Author: Albert Savana

Shoprite announced on Monday, August 23, that it was withdrawing from Uganda and Madagascar after two decades of activity. This, he said in a statement without further details, in line with the group’s review process outside South Africa, its local market. Present since 2000 in Uganda where it operates five stores, and since 2002 in Madagascar where it has 10 stores, the South African supermarket chain had already registered its withdrawal from Kenya and, since last June, from Nigeria. Indeed, after 16 years in the country, it sold the ownership of its subsidiary Retail Supermarkets Nigeria Limited, to Ketron Investment…

At the end of the first half of 2021, the Norwegian Sovereign Fund (Government Pension Fund Global) earned 990 billion crowns or 95 billion dollars coming mainly from its investments. In a statement, the head of the fund, Nicolai Tangen, noted the particularly strong performances of the sectors of energy and finance but also of...

By Abashi Shamamba. Bank Al-Maghrib has implemented the directive on the financial risk management system related to climate change and the environment. The directive has been in force since March 4, 2021 and is part of the consensus between international regulatory authorities, grouped within the Network of Central Banks and Supervisors for the Greening of...

On August 16, 2021, the Congolese government and the Central African States Development Bank (BDEAC) signed a financing agreement of CFAF 32.8 billion ($ 59 million) for the construction of infrastructure. This is the development of the Dolisie-Kibangou road, the 93 km of which constitutes the first phase of the Libreville-Brazzaville corridor to link the Congo to Gabon, and which will make it possible to open up this production basin with a view to improving economic and commercial exchanges in the sub-region. The development of this section contributes to the implementation of integrative road link programs between the capitals of…

From our special correspondent in Lilongwe, Rodrigue Fenelon Masala After a long closed camera and diplomatic negotiations, the member countries of the Southern African Development Community (SADC) favored consensus in the appointment of the executive secretary. And in this hushed diplomatic ballet, it was the Botswanan Élias Magosi who was chosen this Tuesday, August 17 at the end of the 41st summit of heads of state and government to the detriment of the Congolese Faustin Luanga, who showed himself to be fair. -play by congratulating the winner. Until then permanent secretary to the presidency of Botswana, Elias Magosi succeeds Stergomena…

In Mali, the military junta is celebrating its first anniversary this Wednesday, August 18, 2021. For this, Colonel Assimi Goita addressed the Nation through a short speech Tuesday evening. “A message of remembrance and hope,” according to the Malian head of state. “A year ago,” to the day, the “people took their destiny in hand,” said Colonel Assimi Goita, leader of the Malian coup leaders. The August 18, 2020 coup, he said, was intended to turn the page of a story and start “writing a new chapter.” “Making this wish, I have a pious thought for those who have been…

At the end of the summit of heads of state and government of the Southern African Development Community (SADC) held this Tuesday, August 17 in Lilongwe (Malawi), the post of executive secretary returned to Botswanan Elias Mpedi Magosi, until -the permanent secretary to the presidency of his country, to the detriment of the economist Faustin Luanga of the DR Congo. Appointed for a four-year term, he succeeds Stergomena Lawrence Tax who has completed eight years of service. The Batswana thus becomes the seventh executive secretary in the history of SADC founded in 1980. His candidacy was brought by the President…

The business climate in Senegal deteriorated by 3.8 points, on a monthly basis, in June 2021 according to an opinion survey carried out by the Directorate of Forecasting and Economic Studies (DPEE). The indicator that summarizes this business climate, calculated on the basis of the balances of opinion of business leaders, stood at 96.4 against 100.2 in May 2021. It is thus found below its long-term average which is 100. “This deterioration reflects the loss of confidence of service providers and traders,” explains the DPEE. In the services sub-sector, the business leaders questioned mostly mentioned the difficulties in debt collection…

Following the arrival on her soil of a Guinean national who was confirmed positive for Ebola virus disease (EVD), on Saturday August 14, the Ivorian authorities, beyond the surveillance and monitoring system put in place. place to contain the disease in order to avoid an epidemic, have decided to close their land borders with Guinea. Although this closure has not yet been formalized by Conakry or Abidjan, whether temporary or prolonged, it remains effective according to the authorities of the Guinean sub-prefecture of Zoo, located on the border with the Ivory Coast. A situation that risks slowing down commercial cross-border…

In order to strengthen the recovery in activity and support the economic recovery plans of the WAEMU states, the BCEAO has taken new measures to support the issuance of government securities. Thus, by a Notice of August 12, 2021, the BCEAO informed the market of the establishment of the “Support and Resilience Window”. This special 12-month refinancing window at a rate of 2% dedicated to short securities called “Bons de Support et de Résilience” (BSR) was initiated to allow the States of the UMOA zone to raise resources under the best possible financial conditions. . With this support from the…

The difficulties for companies to access bank financing, generally because they do not offer guarantees, have increased with the outbreak of the health crisis linked to the coronavirus. Through “Flash leasing”, Afriland first bank offers a new offer to Small and medium-sized enterprises (SMEs) with a view to increasing their sustainability and supporting their development. According to the bank, nearly 90% of financing by leasing is mainly allocated for the acquisition of vehicles, while companies have the possibility of extending this financing for the purchase of other productive equipment, among others, the construction and equipment of factories. Since the launch…

The Ryselai Participations Ltee group has today finalized the sale of 100% of the capital of the company Assuredxpat Ltee for its benefit. This sale is part of the dynamic of strengthening the digital activities of the Ryselai Participations Ltee group. Assurexpat Ltee is a great opportunity to become a major player in digital insurance and the sale of online insurance products in the region and around the world. Speaking on this transaction, Nicolas FAKHRY, CEO of the Ryselai Participations Ltee group, particularly thanked Mr. XAVIER ETIENNE JEAN DUBOURG DU FAYET DE LA TOUR and Mr. Guillaume ROVERE for the…

In one year, several companies listed on the Casablanca Stock Exchange should renew the mandate of their auditors or appoint a new auditor. Some banks and finance companies are in this case. Behind the scenes, the battle is head-on between members of the famous auditing “Big Four” (PwC, Deloitte, KPMG and E&Y) and very enterprising challengers. By Abashi Shamamba. If for football stars, signing in a new club takes place between early July and late August, with the auditors, the transfer window occurs during the season of ordinary general meetings (AGO) of companies. The appointment of the auditors and the…

From our special correspondent in Lilongwe, Rodrigue Fenelon Massala. In Lilongwe, the adrenaline rises. This August 17 will see the epilogue of the duel between Professor Faustin Luanga Mukela of the DRC and the Botswanan Elias Magosi. The two executives are competing for the post of executive secretary of the Southern African Development Community (SADC). The scene of this diplomatic showdown, the hills overlooking the gigantic Binhu Wa Mu Ntarika convention center. The negotiations are intense there. Between disagreements and reservations observed during the work of the panel and the Council of Ministers with a view to submitting a consensual…

Cryptocurrencies have been driving the local and international news of recent times. They are on everyone’s lips, for speculators, they constitute a wonderful vehicle for speculation, but for the political and monetary authorities, the question is more worrying and needs to be debated. In the West African area in general and in my Burkina Faso in particular, the appetite of young people for crypto-currencies even if some do not know enough about it, is increasing day by day. If the system is qualified as a scam system by detractors, it should be noted that the meeting of parliamentarians on the…

An armed attack took place this Monday, August 16, in the village of Darey-Daye in Niger. According to several security sources, the tragedy was committed by armed men who came on motorcycles around 3 p.m. GMT. “They shot people cultivating in their fields,” said a local elected official. This umpteenth attack caused a heavy toll: “there were 37 deaths, including four women and thirteen minors”. According to a journalist from the region, this attack is considered “very bloody”. As a reminder, the village of Darey-Daye, located 40 km east of the town of Banibangou, has already been the target of…

120,000 CFA Francs in one go. This is the amount each of the 22,000 vulnerable families targeted in the city of N’Djamena will receive. Objective, to help them cope with the socioeconomic consequences of the COVID -19 pandemic. The operation, which will be launched today, August 17, 2021, is being carried out as part of the Refugee and Host Communities Support Project (PARCA) supported by the World Bank. The overall amount mobilized for this financial assistance is approximately three (3) billion of our CFA francs. For the Minister of the Economy, Development Planning and International Cooperation, Issa Doubragne, the aim…

Negotiations have accelerated in recent weeks in Lomé, the Togolese capital, and resulted in the government announcing the sale of BTCI, the Togolese Bank for Commerce and Industry, to IB Holding de homme Burkinabe businessman Mahamadou Bonkoungou. The culmination of this process launched several years ago comes following the withdrawal of the favorite, the Agir consortium, led, among others, by the Ivorian banker Charles Kié and the Beninese entrepreneur Oscar Daaga. Thus, on Wednesday August 11, 2021, the Council of Ministers of Togo announces that it has adopted a draft decree setting the terms and price for the sale of…

The indicators of tourism activity in Tunisia continued their downward trend, in particular for the flow of foreign tourists which experienced a drop of 75.8% during the first quarter of 2021 against -16.6% a year earlier, according to the Central Bank of Tunisia (BCT) based in Tunis. According to the Tunisian Emission Institute, these indicators covered 258,500 visitors. << This decrease concerned the different nationalities, in particular, European tourists (-80.9% against -29.6% in 2020), like the French (-79.7% against-22.4%) , the English (-93.4% against -67.6%) and the Germans (-85.3% against -34.8%) >>, adds the services of the BCT. Likewise for…

The Heads of State of the Economic and Monetary Community of Central Africa (CEMAC) will hold by videoconference on August 18, 2021, an extraordinary summit primarily devoted to “the evolution of the macroeconomic situation in the CEMAC zone in the context of the pandemic of Covid-19 and the analysis of remedial measures ”. The event initially planned face-to-face in the Cameroonian capital Yaoundé, will ultimately take place by videoconference, “not only for reasons related to the health crisis, but also for timing reasons” indicate sources familiar with the matter. However, the initial format remains maintained, with alongside the leaders of…

In Zambia, the President of the Electoral Commission, Esau Chulu, declared this Monday August 16, the opponent and businessman Hakainde Hichilema (59 years) 7th “elected president” of the Republic with a total of 2,801,757 votes against 1,814,201 for the outgoing head of state, Edgar Lungu (64), after a third confrontation which registered more than 70% of registered voters. “I declare Hakainde Hichilema elected president of the Republic of Zambia on August 16, 2021,” he told reporters late at night. Noting that one constituency out of the 156 in the country has not been officially counted, he reassured that the Electoral…

As these lines are published, Kabul is back under the mantle of the Taliban. The government fell in the face of the lightning offensive of the Islamist group which in recent hours conquered Mazar-e Charif, the fourth largest Afghan city, then Jalalabad, 50 km from Kabul, the Torkham border post, on the border with Pakistan and Kabul Airport. President Ashraf Ghani fled Afghanistan on Sunday (August 15th), effectively handing over power to the Taliban, who reached Kabul. Less vindictive than in the past, the new masters of Kabul promise not to give in to the desire for revenge. The rout…

The Casablanca Stock Exchange (BVC) continues to advance with a weekly gain of 0.75% to 12,623.11 points on the composite index (MASI). The leading financial center in French-speaking Africa has posted an increase of 11.83% since the start of the year. The market capitalization reaches 649.8 billion dirhams (72.3 billion dollars). Over the week, the volume of transactions amounted to 328.16 million dirhams, transacted mainly on Attijariwafa Bank (17.02%), BMCI (9.87%), LafargeHolcim Maroc (8.32%) and Itissalat Al-Maghrib (8.03%). The best weekly performances came from the pharmaceutical company Sothema (+ 16.39%), the banking company BMCI (+ 6.03%), and the supplier of…

After a significant drop in the number of daily infections between mid-April and mid-July, Togo has been facing, for a few weeks, a new wave of Covid-19 infections … and deaths. Indeed, the figures reported by the services in charge of the management and response to the pandemic continue to climb. The country has more than 1,000 new cases in the week of August 7 to 13, 2021 alone, against 935 between July 31 and August 6. The previous week, figures still showed 654 new infections, up from 516 between July 17 and 23. By way of comparison, and according…

Abdel Karim Konaté, CEO of the Office du Niger © DR The Office du Niger achieved a turnover of 7.6 billion CFA francs (about 13.6 million USD) in 2020, compared to 7.5 billion in 2019. According to its CEO Abdel Karim Konaté, who presented the figures on August 10, 2021 on the sidelines of an ordinary session of the board of directors, the provisional assessment of the 2020-2021 campaign shows a production of 837,136.72 tonnes of rice. paddy, 326,299 tonnes of market garden products and 71,950 tonnes of diversification products. Regarding the current 2021-2022 agricultural campaign, he set out the…

According to the World Health Organization (WHO), a case of Ebola was confirmed on Saturday August 14 in Abidjan, Côte d’Ivoire. In a statement, the institution said that the first investigations revealed that the patient carrying the virus comes from Guinea and was admitted to a hospital to receive first aid. However, specifies the WHO, there is nothing to indicate that the present case is linked to the previous epidemic that occurred in Guinea and more in-depth research and genome sequencing should make it possible to know the origin of the virus identified in the bedridden patient. receives treatment. WHO…

By Abashi Shamamba. For its results for the first half of 2021. Maroc Telecom can say thank you to its African subsidiaries grouped together under the identity of Moov Africa. The group’s consolidated turnover drops 3% to 17.78 billion dirhams (1.8 billion euros) following a sharp contraction in mobile activities in Morocco and intensifying competition....

Four letters will soon disrupt the economic order in the French-speaking world. This is “FAOS”, an economic entity of the Groupement du patronat francophone (GPF), which aims to create economic synergy and a business platform. Among the three promoters of the project, the Senegalese Bara Ndiaye, founder of AMS, who shares with us his vision of the instrument intended to mark the French-speaking business space over the next 20 years. How did this FAOS project mobilize you and what is Bara Ndiaye’s paw in this adventure? This project particularly mobilized me, because it was a dream to create this economic…

In the Democratic Republic of the Congo, Vancouver-based Canadian mining company Ivanhoe Mines reports an overall loss of $ 95.7 million in the second quarter of 2021, compared to revenue of $ 300,000 for the same period in 2020 and 16 , $ 2 million in the previous quarter. In its report published Wednesday August 11 on its financial results for the quarter and the six-month period ended June 30, 2021, Ivanhoe Mines justifies this situation by a loss on the fair measurement of the embedded derivative financial liability of 85.7 million USD for the period. Hence, she notes, “the…

Malawi’s anti-corruption office announced on Monday the arrest of big money. Indeed, Malawi’s Energy Minister Newton Kambala was arrested along with presidential adviser Chris Chaima Banda and Enock Chihana, a member of the ruling Alliance. Anti-Corruption Bureau director Martha Chizuma told a televised press conference that the arrests were the result of investigations into complaints by the National Oil Company of Malawi (NOCMA) regarding interference in the attribution of contracts to fuel suppliers. “The other part of this investigation was alleged serious political interference and certain corrupt practices in the procurement process,” Chizuma said. And, she recalls, “there is a…