Author: Albert Savana

The Ivorian government has endorsed the proposal of the Ministry of Agriculture and the Coffee and Cocoa Council (CCC) to systematically and compulsorily grant 20% of the purchases of export contracts of the 6 multinationals to local traders who will be appointed by the Coffee and Cocoa Council. . This is what emerges from the press release of the Council of Ministers of May 26, 2021. “The Council decided, in order to promote the emergence in the sector, of national champions and to create the conditions for the sustainability of their activities, to allocate 20% of beans exports to Ivorian…

The State of Benin, through the General Directorate of the Treasury and Public Accounts, raised on May 27, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 66 billion FCFA (99 million d ‘euros) following its simultaneous issuance of a 3-year Treasury stimulus bond (ORD). ODR issues are initiated by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO). They aim to allow the issuer to mobilize the savings of natural and legal persons in order to cover the financing needs of the Benin State budget as part of…

At a virtual ordinary general meeting this Thursday, May 27, Ecobank shareholders validated the group’s 2020 results with an annual profit which amounted to 201 million USD, against 184 million USD in 2019. An increase of result that the pan-African bank based in Lomé owes to the acceleration of the use of technology during the year. “The pandemic has accelerated the gradual migration of consumers to digital channels, which has transformed the way we work in many ways. Thanks to our technological investments over the years, we were prepared and made sure to provide our customers with permanent 24/7 access…

The World Bank will disburse USD 100 million in connection with the Emergency Project for Equity and Strengthening of the Education System (PERSE) of the Ministry of Primary, Secondary and Technical Education, according to correspondence addressed to Minister Tony Mwaba, the May 26, 2021, by Jean Christophe Carret, the institution’s director of operations in DR Congo. During his meeting on May 21, 2021 with the Minister of PTSD who had provided him with evidence from the Congolese government in compliance with the withdrawal conditions announced in the financing agreement, Jean-Christophe Carret had ensured the availability of the Bank world to…

After a decrease of 1.104 billion FCFA (1.656 million euros) in 2019, the drop in after-tax profit of Total Côte d’Ivoire, a subsidiary of the oil multinational of the same name, was accentuated at the end of the financial year. 2020 with a contraction of CFAF 2.771 billion (€ 4.156 million). The summary financial statements for the period under review of this Abidjan-based company indeed highlight a profit of CFAF 7.648 billion against CFAF 10.419 billion in 2019, a decrease of 26.60%. The turnover and other products are down 7.88% to 417.986 billion FCFA against 453.734 billion FCFA in 2019.…

Saham insurance companies change their name from June 1, 2021 in their various markets including Togo, Benin, Guinea and Senegal. The announcement was made officially on Wednesday 23 May by the subsidiaries concerned. “This rebranding follows the acquisition by Sanlam Group of all the capital of Saham Finances, finalized in October 2018,” said a statement from the group. “This rebranding operation also reflects a strong potential for creating value for our clients as well as a source of growth for the insurance sector in our country”, adds the same source. First from 30% to 46.6% in December 2016 then from…

The African Import-Export Bank (Afreximbank) recorded strong growth in the first quarter compared to its unaudited financial statements for the first quarter of 2021, released Thursday, May 27. Results for the first three months ended March 31, 2021 show resilient and above average growth for the previous year over the same period. “The Bank reported net income of $ 87.3 million, an increase of 4% over the 2020 performance of $ 84.2 million, achieved largely through 23% growth in net income from interests. The increase in net interest income stems from a 41% growth in net loans and advances and…

Arriving in Kigali on May 27 for a two-day visit, Emmanuel Macron focused his trip on the memorial aspect through a speech delivered this day, in the morning, at the Tutsi genocide memorial in the Gisozi neighborhood. The French president in particular recognized the responsibility – but not the complicity – of France in this...

Dy Ould Zeine, until then Minister of Rural Development of Mauritania, was appointed on Wednesday, May 26, Minister of Fisheries and Maritime Economy. He replaces Abdel Aziz Ould Dahi who himself inherits the portfolio of Digital Transformation, Innovation and Modernization of Administration in the government of Prime Minister Ahmed Ould Bilal. This appointment comes in a context marked by a drastic drop in fishing income, the second pillar of the Mauritanian national economy; the maintenance of a leonine agreement with the Chinese company Poly Hong Dong denounced in the report of the parliamentary commission of inquiry at the origin of…

The president of the company Ivanhoe Mines, Marna Cloete, announced on May 26, 2021 the press in the Democratic Republic of the Congo, the launch of its mining activities in August 2021, in collaboration with Gécamines within the framework of the Kamoa project. Kakula, after investing more than $ 2 billion. Kakula will be the first of multiple “high grade” mining areas planned on the Kamoa-Kakula mining license, covering an area of ​​400 km² with an initial mining production rate of 3.8 million tonnes per year, at an average feed grade of more than 6% copper over the first 5…

Symbolized by Emmanuel Macron’s visit to Kigali on May 27 and 28, the normalization of the Franco-Rwandan relationship should lead to the appointment of an ambassador. The two countries have been without representatives at such a level since the rupture of their diplomatic relations at the initiative of Rwanda, in November 2006, following the publication...

Cameroonian Head of State Paul Biya signed an ordinance amending and supplementing certain provisions of the 2021 finance law in order to allow Cameroon to honor its commitments to its international creditors. The presidential act made public on May 26, 2021 primarily targets the settlement of a debt of CFAF 450 billion ($ 838 million) contracted during the issue of the Eurobond in 2015, the repayment deadline of which is at the end of the year. ‘horizon. “The government is authorized to negotiate and possibly to conclude during fiscal year 2021, under conditions safeguarding the financial interests of the State…

Held in the Kati military camp since Monday afternoon by the junta of the National Committee for the Salvation of the People (CNSP), the now ex-president of the transition, Bah Ndaw, and his prime minister were released this Thursday, May 27 . Previously, they had been received in audience yesterday morning, Wednesday May 26, by a strong delegation from the international community, in particular ECOWAS, the African Union and Minusma. This delegation led by the mediator of the ECOWAS, Goodluck Jonathan, was held within the framework of a first mediation going in the direction of finding a solution to the…

The Togo Electronic Communications and Postal Regulatory Authority (ARCEP) announced on May 26, 2021, that it had fined nearly 600 million CFA F (a little over one million USD) against of Moov Africa Togo, a subsidiary of Maroc Telecom, for failure to comply with the obligation of permanent, continuous and regular availability of mobile electronic communications services. According to the regulator, this sanction taken and notified on May 18 to the company “stems from the observation of significant, recurring and lasting cases of unavailability of its networks and services, from June 2020 to April 2021, in a large number of…

The fourth ordinary general assembly of the Federation of Air Traffic Controller Associations of the Agency for the Safety of Air Navigation in Africa and Madagascar (Asecna) opened on Tuesday, May 25 in Abidjan on a salty note with the announcement a 52% decline in operating revenues in the first quarter of 2021. This fall was preceded by a 53% drop in said revenue in 2020. Covid-19 contributed to this deterioration in performance, testifies Louis Bakienon, director of air navigation operations who represented the CEO of Asecna . He says the agency’s monthly activities fell to 20% of normal during…

The Ivory Coast distribution company (CDCI), a subsidiary of the Moroccan group Retail Holding, has just set up an 11,000 m² warehouse within Agility logistic park, in the new industrial zone of Attingué ( PK24). This new warehouse will be inaugurated this Friday, May 28 by the government. According to the group’s managing director, Riyad Laissaoui, the choice of the Ivory Coast for the establishment of his group reflects its strong growth and its strong development potential. “The Ivory Coast has a good business and governance climate, a control of inflation in line with community standards, an economic and commercial…

The State of Burkina Faso, through its General Directorate of the Treasury and Public Accounts, raised on May 26, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 87.931 billion FCFA (131.896 million euros) at the end of its issuance of Treasury stimulus bonds (ORD) with maturities of 3, 7 and 10 years organized in partnership with the UMOA-Titres Agency based in Dakar. Launched by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO), the issuance of ODRs aims to allow the issuer to mobilize the savings of natural…

It was eagerly awaited. Handed over to King Mohammed VI on May 25, the general report of the Special Commission on the Development Model (CSMD) is a new stage in the economic and social development of Morocco, in search of more inclusiveness. The report presented by Chakib Benmoussa at the Royal Palace in Fez was commissioned by the King in December 2019. The document was drawn up after extensive consultations involving political parties, economic operators, academics, unions, civil society, public administration and specialized international organizations. In addition, there is a digital platform (CSMD.ma) allowing any Moroccan citizen to enter the…

Standard Chartered Bank Kenya announced on Monday, May 24, that it posted net income up 18.9 percent to 2.39 billion shillings (22 million USD) for the fiscal year ended March 2021. This is thanks to the growth in non-interest income and lower operating expenses. “Our performance in the first quarter was supported by positive business momentum which led to improved transaction volumes, particularly in wealth management, low credit impairment charges and operating cost efficiency. Said Kariuki Ngari, CEO of StanChart Kenya. As for net interest income, it fell 2.8 percent to 4.59 billion shillings (US $ 43 million), while the…

The consolidated profit of the company Oragroup SA, parent company of the Orabank banking group, plunged by 8.887 billion FCFA (13.330 million euros) at the end of the 2020 financial year compared to that of 2019, announced the managers of this company based in Lomé. This profit thus fell from 18.327 billion FCFA in 2019...

Jeddah, Kingdom of Saudi Arabia, May 25, 2021 – The President of the Islamic Development Bank (IDB), Dr Bandar Hajjar and the CEO of the Arab Bank for Economic Development in Africa (BADEA), Dr Sidi Ould TAH , signed a historic agreement to stimulate co-financing of development projects in common member countries in Africa. Over the past ten years, IDB and BADEA have co-financed more than a dozen projects in Côte d’Ivoire, Guinea, Gambia, Sierra Leone, Mali, Senegal, Chad, Niger, Togo and Mozambique. These co-financing operations covered sectors such as education, water, sanitation, urban development, agriculture, transport, energy, health and…

On May 25, 1963 in Addis Ababa (Ethiopia), the founding fathers divided into two blocs (the Casablanca group and the Monrovia group) on the need to immediately create where gradually the United States of Africa resolved to progressive place of the project by favoring decolonization and the fight against Apartheid in South Africa. In 1999 in Sirte (Libya), Colonel Gaddafi resuscitated the idea of ​​the Ghanaian Nkrumah after evaluating the success of the Organization of African Unity (OAU) in achieving its main objective focused on the decolonization of the continent and the eradication apartheid. The Libyan leader proposed to his…

In Mali, the Vice-President of the Transition, Colonel Assimi Goïta, indicated that he saw himself in the obligation to act to preserve the Transition Charter and that, by withdrawing the prerogatives of President Bah N’Daw and its Prime Minister Moctar Ouane, as well as all the people involved in the situation following the “violation” of this charter. In a statement released this Tuesday, May 25 on the ORTM, the state channel, the head of the junta indeed indicates that the government led by Moctar Ouane has shown itself incapable of constituting a reliable interlocutor, likely to mobilize confidence. social partners,…

Since May 20, 2021, the TEYLIOM Properties group has launched its Common Credit Securitization Fund (FCTC) by public offering on the financial market of the West African Monetary Union (UMOA) called “FCTC TEYLIOM IMMO 7% 2021-2028 ”for an amount of 20 billion FCFA (30 million euros). The subscription period which runs until June 18, 2021 falls within the framework of the search for innovative financial mechanisms allowing this group to refinance its portfolio of receivables in order to optimize its intervention capacity, in a context marked by the increased demand for credit. Thus, in the eyes of the managers of…

From our permanent corespondent in Bamako. In Mali, several states and international organizations have condemned the coup that took place in the afternoon of May 24, 2021. These include the UN mission in Mali (Minusma), the Community of Western States. -africans (ECOWAS), the African Union, France, the United States, the United Kingdom, Germany and the European Union. In this article, Financial Afrik sheds light on the identity of the coup plotters and the motivations behind their coup. In a joint statement, the Heads of State of the Economic Community of West African States (ECOWAS) and the African Union (AU) strongly…

In Mali, the president of the Transition, his prime minister and their new defense minister were arrested hours after the proclamation of a new government on Monday 24 May. A look back at the latest events, the identity of the putschists, the reasons for a new coup less than a year after that of August 2020, and the reactions of the political class and the international community. In the aftermath of the arrest of President Bah N’Daw and Prime Minister Moctar Ouane by the military, Bamako woke up on Tuesday in uncertainty over the fate of the Transition. The night…

Considered an official national holiday in Ghana, Gambia, Guinea, Namibia, Zambia, Mali, Mauritania, Lesotho and Zimbabwe, Africa Day is also celebrated at the UBA group. Whose president Tony Elumelu is organizing a high-level panel, this Tuesday, May 25, by video conference with the president of Rwanda Paul Kagamé, the director general of the World Trade Organization, the Nigerian Ngozi Okonjo-Iweala, the director as guest General of the World Health Organization, the Ethiopian Tedros Adhanom Ghebreyesus and the Senegalese Makhtar Diop, director general of the International Finance Corporation (IFC). “We mark this day by highlighting our diversity and the collaborations that…

The Ministry of Petroleum, Energy and Mines is shortlisting 5 candidates to carry out a strategic environmental and social assessment of the hydrocarbon sector in Mauritania (EESS). Thus, the consortium The Ciera Group (Canada); Strategia Worldwide led by Sir Richard Shirref, retired British general who held senior positions in NATO, and Nouakchottois Meen & Meen – a pioneer in the field of hydrocarbon consulting in Mauritania – will compete with Portuguese Nemus; the British Xodus and RSK Environment Limited as well as the Malian ID Sahel, which intends to follow in the footsteps of its compatriot Kanaga Consulting, who won…

After officially ending more than two decades of state monopoly and opening up the telecoms sector to competition on June 10, 2019, Ethiopia on Saturday awarded a license for the deployment of 4G and 5G internet. to a British-Kenyan consortium. They are the Kenyan Safricom and the South African Vodacom, a subsidiary of the British giant Vodafone for a license worth 850 million dollars with an investment of 8.5 billion dollars over the next ten years. This very first license was awarded at the expense of the consortium led by the South African giant MTN, supported by the Chinese giant…

“The Ivory Coast lost 80% of its forest cover from 1900 to 2015; and at the rate of this deforestation, the country could lose all of its forests by 2034 if nothing is done ”, indicates a report of the United Nations Development Program (PND) presented in Abidjan, Wednesday 19 May, after its launch in Oslo (Norway) on the theme “Human development and the anthropocene: the next frontier”. During this presentation, the UNDP Resident Representative in Côte d’Ivoire, Carol Flore-Smereczniak, noted the inequalities in human development despite the economic performance recorded at the global or national level. Before pointing the…