Author: Albert Savana

Treasury bills launched by the government of DR Congo on July 6, 2021 on the internal financial market raised CDF 24.14 billion (USD 12.07 million). Three bidders shared the three-month securities at an interest rate of 7%. The total amount of bids reached 56.64 billion CDF against 20 billion CDF (10 million USD) targeted. During this month of July, the government plans to raise 40 billion CDF on the internal financial market, according to the Ministry of Finance.

The State of Côte d’Ivoire, through its General Directorate of the Treasury and Public Accounts, raised on July 6, 2021 an amount of 33 billion FCFA (49.500 million euros) on the financial market of the Union West African monetary policy (UMOA) at the end of its issue by auction of assimilable treasury bonds (BAT) with a maturity of 91 days. Out of a total amount put up for auction of 30 billion FCFA, the Ivorian public treasury ended up with 43 billion FCFA in global bids made by investors, ie a coverage rate of the amount put out to tender…

The National Telecommunications Company of Senegal (SONATEL) will proceed, on July 16, 2021, to the payment of the half-yearly interest on its bond loan called “Sonatel 6.50% 2020-2027” for an amount of 3.250 billion FCFA (4.875 million of euros), announced the leaders of this Dakar-based telephone company. With a view to financing its 2020 investment plan linked to its operations in Senegal (its main market), Sonatel had launched on the financial market of the West African Monetary Union (WAMU) a bond loan by public call to the savings for an amount of CFAF 100 billion. An interest rate of 6.50%,…

The ECOWAS Investment and Development Bank (EBID) will proceed on July 12, 2021 to the payment of half-yearly interest and the partial repayment of the capital of its bond loan called BIDC-EBID 6.40% 2019-2026 for an amount of 2.883 billion FCFA (4.324 million euros), announced the leaders of this regional financial institution based in Lomé, Togo. At the end of its 59th meeting held in Lomé on October 25, 2018, the Board of Directors authorized EBID to issue a bond loan on the financial market of the West African Monetary Union (WAMU) in the amount of 25 billion euros. FCFA…

Inflation continues its upward trend that began in February 2021 in WAEMU. After 3.1% in April, it stood at 3.3% in May 2021 according to data published by the Central Bank (BCEAO), which represents a new successive increase since the beginning of the year. As in recent months, inflation was mainly driven in May by “food and non-alcoholic beverages” at 2.2% (compared to 2% in April). This item is the engine of successive growth in the rate, its contribution having been steadily increasing since the start of the year. By country, inflation varies between 1.2 and 5.3% respectively for Guinea…

Will the “great” republican dialogue announced last March by the head of state Faustin Archange Touadéra after his re-election in a tense socio-political context be held under inclusive conditions? It is difficult for the moment to be optimistic, as the beginnings of this high mass to restore peace and security in the Central African Republic are the subject of many challenges, particularly within the political class. Following the presidential decree of June 30, 2021 defining the profiles of the participants as well as the conditions of participation, several opposition movements reacted strongly to contest the organizing committee as defined by…

The International Monetary Fund (IMF) on Tuesday, July 6 called for the “rapid” establishment of a creditors’ committee for Ethiopia, which has begun a process of restructuring its debt. “The IMF strongly encourages the early formation of the Ethiopia Creditors Committee to enable timely debt relief,” said Gerry Rice, spokesperson for the Fund in a statement posted on the organization’s website. global. “Ethiopia asked G20 and Paris Club creditors in February to benefit from a debt transaction under the G20 Common Framework. The authorities’ goal is to create fiscal space for development spending and mitigate the risk of debt distress…

Visiting Côte d’Ivoire, the president of the African Import Export Bank (Afreximbank), Benedict Oramah, said on Tuesday July 5 that the institution has invested nearly 3.5 billion USD as part of its cooperation with the country. The Nigerian was received in audience by Ivorian President Alassane Ouattara. He said he took stock of cooperation between Côte d’Ivoire and Afreximbank, before adding that the country has made progress on the Covid-19 vaccine campaign. Before taking leave of his host, the president of Afreximbank announced the prospects of a financial contribution for the continuation of the said campaign within the framework of…

The extractive industries sector is consolidating its place among the main contributors to government revenue. According to the report of the Extractive Industries Transparency Initiative (EITI), the contribution of hydrocarbons amounts to 533 billion (963 million dollars) representing 93.91% of the total budgetary revenues generated by the extractive sector. in 2018 estimated at CFAF 763 billion, approximately ($ 1.3 billion). Crude oil accounts for the bulk of the production and export of the extractive sector with 21,845,145 tons followed by gas 35,636,361 metric tons and gold with 35,200 tons of ounce. During the period under review, cash payments made by…

The African activities of the French multinational Axa are now attached to Asia. Indeed in its strategic plan “Driving Progress 2023”, the world number 2 in insurance announces the creation of a new Asia-Africa entity headed by Gordon Watson, current CEO of AXA Asia. This major change expresses a willingness to take advantage of the rapid growth that Africa and Asia offer. This new plan gives an important place to Health as evidenced by the recent opening of AXA OneHealth and its 16 clinics across Egypt. The new entity brings together on the Middle East and Asia side, China, Hong…

The Regional Council for Public Savings and Financial Markets (Crepmf) has approved Global Capital as a management and intermediation company (SGI) operational in the regional financial market of UMOA. The second of its kind based in Mali, the financial institution with a capital of one billion CFA francs (about 1.8 million USD) is chaired by Alhassane Salif Sissoko, former boss of UBA Mali and Ecobank Burundi. This is a structure that was born from the initiative of Alhassane Sissoko, Chairman of the Board of Directors. This seasoned banker with recognized expertise in the Corporate Banking and Investment Banking businesses was…

InTouch, an aggregator of payment solutions and digital services in Africa created in Senegal in 2014, today announces a strategic merger with the CFAO group. The investment is made through a capital increase in which the CFAO group invests jointly with Mobility54, the investment vehicle created in partnership with Toyota Tsusho Corporation in 2019 and dedicated to the mobility sector on the continent. On the occasion of this transaction, TotalEnergies and Worldline, InTouch’s two historic partners, confirm their commitment to the pan-African startup. Through these new investors, In Touch, present in 10 countries, with 30,000 businesses among its clients, 1,000…

Niger signed on July 3, 2021, a financing agreement of 3.2 billion USD with the Moroccan group Ymmy Finance Holding for the realization of several industrial and infrastructure projects in Niamey, its capital. According to Omar Moumouni Dogari, central mayor of Niamey, this involves the construction of a new town in the capital on 1,050 hectares, the establishment of a free zone on an area of ​​200 ha and the construction of 36,960 housing units. social services including an agro-food complex. “If we combine with harmony and insight, the potential of our city with the capital of expertise of Moroccan…

In its new vision of “the united Ivory Coast”, the government intends to train 500,000 young people whose age varies between 15 and 25 years to revive the agricultural, animal and fishing economy. Switching from a production policy to that of added value is the new paradigm adopted by the government, which intends to enhance the image of producers by strengthening their capacity, especially those who will ensure the succession of Ivorian agriculture, through the acquisition of technologies, construction of research centers, conquest of markets. “From September 1, 2021, the first pilot projects will be set up in each of…

In Mali, Interpol announces an arrest warrant issued against Karim Keita, eldest son of former President Ibrahim Boubacar Keita on Monday, July 5. The case comes as part of an investigation into the 2016 disappearance of investigative journalist Birama Touré. According to information from a source who requested anonymity, it was an investigating judge from the tribunal de grande instance of Bamako commune IV who requested that Interpol’s “red notice” be disseminated. Everything seems to indicate that this is a sensitive issue, as an official of the Interpol representative office in the country, who also spoke on condition of anonymity,…

President Félix Tshisekedi of DR Congo appointed on July 5, 2021, Ms. Malangu Kabedi Mbuyi as governor of the Central Bank of Congo (BCC). The former official of the International Monetary Fund (IMF) succeeds Deogratias Mutombo Mwana Nyembo, himself appointed Chairman of the Board of Directors of the Insurance Regulatory Authority (ARCA). Appointed in May 2013 to the central bank by ex-president Joseph Kabila, the now ex-governor of the BCC was then the director of banking and markets operations of the issuing institute. The new vice-governors of the BCC are Dieudonné Fikiri and William Pambu. The directors are Thomas Batetele…

Previously announced in Kigali (Rwanda), the second edition of the Intra-African Trade Fair (IATF2021) will finally take place in Durban (South Africa), in the province of KwaZulu-Natal from November 15 to 21, 2021, by decision of the Advisory Board chaired by Olusegun Obasanjo, former President of the Federal Republic of Nigeria. “The relocation of IATF2021 to Durban saves us time on the schedule and will allow African countries and businesses, as part of their recovery strategy, to take full advantage of the trade fair, which is also an important element. of the implementation of the African Continental Free Trade Area…

The new Managing Director of Agro Food Industries, a subsidiary of the Sonoco group which manages among others Moulins d’Afrique, Nestlé Guinea and Les Boissons Salam, was officially invested in his new functions on July 3, 2021 in Conakry, in the industrial units. of the SONOCO group. He replaces Aboubacar Camara who now takes the lead of the sales department. Jean Ntambwe arrives at the head of the general management of Agro Food Industries Guinea with experience in Africa and Guinea. He notably held the position of Managing Director of Bonagui SA Guinea, a subsidiary of ECCBC; Director of Distribution…

Heads of companies operating in industry in Senegal complained about the difficult supply of raw materials and difficulties in debt collection in April 2021, according to the results of an opinion survey carried out by the Department of Forecasting and Economic Studies (DPEE) based in Dakar. The DPEE underlines in fact that the business leaders that its teams surveyed mostly mentioned the difficult supply of raw materials (40%) and the difficulties of debt collection (40%) as being the main factors limiting development. of the sector. Far behind these two factors, the survey of this structure identified supposedly unfair competition (24%)…

The Bank of Central African States (BEAC) announced, in a press release published on July 2, 2021, the suspension of the readjustments of the conditions of eligibility of guarantees for its refinancing operations. The measure was adopted on June 24, 2020 as part of the fight against the effects of the Covid-19 pandemic. The issuance institute also announced further “adjustments” to the stance of monetary policy implemented since March 2020 in support of the economy. This, after the meeting of the Monetary Policy Committee (MCP) held on June 28, 2021 by video conference under the chairmanship of Governor Abbas Mahamat…

Former South African President Jacob Zuma, who on June 29, 2021 was sentenced to 15 months in prison for contempt of justice, has just obtained from the same justice a review of his conviction at first instance. A transitory decision, certainly, but which serves as a milestone victory for the former president of the party in power, the African National Congress (ANC), which some already saw as inevitable imprisonment. A decision with enormous consequences, the main one of which protects Zuma from arraignment at least before July 12, as his previous conviction required. The Constitutional Court will examine the appeal…

The number of COVID-19 cases in Africa is increasing at an alarming rate, breaking all records set by previous peaks, reports the World Health Organization (WHO) in its July 3, 2021 bulletin. he international organization which, we remember, predicted the worst for the continent at the very beginning of the health crisis, “new variants are spreading like wildfire and fueling the third wave of the pandemic on the continent”. Over the past 6 weeks, the UN has seen an increase of 25% to a total of 202,000 cases during the week ending June 27, nine-tenths of the previous record of…

At the end of the first meeting of the Steering Committee of the Côte d’Ivoire-Ghana Cocoa Initiative, the Director General of the Coffee-Cocoa Council (Ccc), Yves Brahima Koné, announced the possibility of ending the sustainability program of chocolatiers to force them to pay the Drd, which requires the purchase of $ 400 / tonne. “Our will is that those who have programs with us here, continue to work in harmony. I think it’s unreasonable to come and do sustainability programs and get rich in some way and refuse to pay the planter. They are not consistent ”he argues. According to…

At the end of its 124th Board of Directors held on June 25, 2021, the West African Development Bank (BOAD) announced its decision to support the company Énergie du Mali (EDM SA), in charge of production, transport and distribution of electricity in the country, through financing of 8.5 billion CFA francs (over 15 million USD). The overall objective is to strengthen the transmission and distribution network of EDM-SA to avoid overloading of electrical works, and improve the security of electricity supply in Mali, according to the West African institution based in Lomé. In fact, this financial support aims to reinforce…

The net income of Bank Of Africa (BOA) Senegal, a subsidiary of the banking group of the same name, saw a strong increase of 79.68% in the first quarter of 2021 compared to the same period of 2020, announced the managers of this establishment. bank based in Dakar. This result stood at 3.304 billion FCFA...

The General Confederation of Businesses of Côte d’Ivoire (Cgeci) held its annual general meeting on Tuesday, June 29, marked by the renewal of some of the members of the Board of Directors and the membership of the Groupement des miniers de Côte of Ivory Coast (Gpmci). If jobs were contained in the private sector in Côte d’Ivoire, at the start of the pandemic, the president of the organization, Jean Marie Ackah, notes however that companies have suffered a drop in their turnover ranging from 20 to 25%. “The Confederation has thus mobilized to seek, in partnership with the public authorities,…

Nothing will be the same in the government securities market in the Central African Economic and Monetary Community (CEMAC). The regulator of the said sector, the Bank of Central African States (BEAC) has just ordered the banks and brokerage firms acting as Specialists in treasury securities (SVT) the compulsory application of the new specifications governing their activities. . The new regulatory framework entered into force on December 20, 2019 after its adoption by the Central African Monetary Union (UMAC) and its validation by the Monetary Policy Committee (CMP) and the BEAC Board of Directors as well as its approval by…

The limited company Filatures, tissages, sacs, Cote d’Ivoire (Filtisac) will pay its shareholders on July 30, 2021, for the 2020 financial year, an overall net dividend of FCFA 3.314 billion ($ 4.971 million), have announced the leaders of this company based in Abidjan. Compared to the 14,103,740 shares that make up the capital of Filtisac,...

Former South African President Jacob Zuma (79) was sentenced, Tuesday, June 29, 2021, to 15 months in prison by the Constitutional Court “by a majority of its members” for contempt of justice after his refusal to appear before an anti-corruption commission ordering him to surrender within “5 days”. “The Constitutional Court has no choice but to find that Mr. Zuma is guilty of contempt of justice,” said Judge Sisi Khampepe. After explaining that “this kind of reluctance and defiance is illegal and will be punished”, she stressed that she has “no choice but to imprison Mr. Zuma, in the hope…

The International Monetary Fund (IMF) has announced approval of a loan of approximately $ 1 billion to Uganda. Objective, support the post-Covid-19 recovery and increase household income for inclusive growth. According to the international organization, the Ugandan economy has been severely affected by the health crisis. The results obtained in ten years of struggle for poverty reduction have been canceled, indeed indicates the IMF, which also notes that the budgetary balances deteriorated, then the pressures on the external reserves intensified. However, notes the institution, a slight recovery is underway in some sectors, and economic growth is expected at 4.3% in…