Author: Albert Savana

In Accra on June 19, 2021 on the occasion of the summit of heads of state of ECOWAS, Akinwunmi Adesina, the president of the African Development Bank (AfDB), spoke about the works of the Abidjan-Lagos corridor supposed to link the economic capitals of five countries in the region. “We expect the construction of this corridor to begin within the next 24 months,” he said. Stating that the feasibility studies were being finalized. The AfDB Board of Directors approved, in April 2020, additional funding of 12.33 million euros for the ECOWAS Commission to cover part of the costs related to the…

In the Democratic Republic of Congo (DRC), commercial banks granted CDF 5,465.84 billion (USD 2.7 billion) in loans to economic operators between January and May 2021, according to the Central Bank of Congo (BCDC). According to the available data, a higher volume of short-term loans was recorded in May with 1570.94 billion CDF (785.470 million USD), or 28.74% of the total volume of loans granted by Standard Bank, Equity-BCDC, Rawbank, Bank of Africa (BOA) and Ecobank. These five banks are among the ten best in the sector which, after a period of relative economic dynamism, suffered a severe depression between…

Congo is taking a deep breath with China’s decision to restructure its debt. This is an overall slate of 1300 billion FCFA ($ 2.2 billion) representing public debt, private and commercial debts. This is the main decision that emerges from the telephone interview that Congolese President Denis Sassou Nguesso and his Chinese counterpart Xi Jinping had earlier this week. A real breath of fresh air for the Congo, which is going through a difficult economic situation following the failure by the Congo to obtain concessional loans from multilateral partners, in this case, the World Bank (WB) and the International Monetary…

The International Monetary Fund’s (IMF) plan to increase Special Drawing Rights (SDRs) by $ 650 billion this year would boost reserve adequacy, and hence credit quality, of low-income sovereign countries in markets emerging markets, says S&P Global Ratings in a report released on June 22, 2021. “Our analysis of the reserve adequacy of sovereigns that we rate at ‘B +’ or less, with an average GDP per capita of $ 4,714, revealed that the creation of these new SDRs would fully restore reserve adequacy for five of the 44 emerging market sovereigns in this category – Zambia, Jordan, El Salvador,…

The net turnover excluding tax of the company Filatures, tissages, sacs, Cote d’Ivoire (Filtisac) SA increased by 4% at the end of the first quarter of 2021 compared to the first quarter of 2020, announced the leaders of this company. company based in Abidjan. This turnover stood at 9.921 billion FCFA against 9.531 billion FCFA as of March 31, 2020, a decrease of 390 million FCFA in absolute value. For its part, Filtisac’s operating income fell by 32%, from CFAF 475 million as of March 31, 2020 to CFAF 322 million a year later. According to company officials, this situation…

The number of complaints received by banking mediators in Tunisia for the year 2019 amounted to 217, keeping the same level recorded during the year 2018, according to the Annual Report on Banking Mediation established by the Bank. Central Tunisia (BCT). However, the analysis of complaints received by bank mediators shows a clear decrease compared...

At the head of the initiative until 2025, Alex Assanvo, the executive secretary of the Ivory Coast Ghana cocoa initiative, is already unrolling his machine with the idea that cocoa cannot be a product that does not evolve only under the theme of poverty. This Monday, June 21, on the occasion of the first meeting of the steering committee held in Abidjan, the former director for Côte d’Ivoire of the Mondelez chocolate group (formerly Kraft Foods) reaffirmed that the Decent Income Differential (Drd ) is a hope… and will not die. For Alex Assanvo, cocoa produced by Côte d’Ivoire and…

A delegation from the Commonwealth is staying in the Togolese capital where it exchanged with Prime Minister Victoire Tomegah-Dogbé and members of the government. The country has, since 2014, expressed its wish to join the organization. After the first officials, it is said, the Commonwealth delegation will interact with civil society organizations, the media and political parties as part of Togo’s process of joining the organization. This is “an assessment mission which will have to submit its conclusions to the heads of state and government of the organization who will then give their response to Togo’s request”, explains Franck Missité,…

This Thursday, June 10, 2021 in Abidjan, the BGFIBank Foundation was awarded the Grand Prix for CSR Communication, during the 8th edition of AS de la communication et du marketing (ASCOM). This distinction rewards the Foundation’s commitment to responsible communication in the implementation of its activities in the field of education and training in Africa. Placed under the patronage of the Minister of Communication, Media and La Francophonie, Spokesperson for the Government of Côte d’Ivoire, Mr. Amadou Coulibaly, this unmissable event in the world of communication in Africa and more particularly in Côte d ‘Ivoire, brought together several public figures…

Protection of eclectic investments in DR Congo will now be ensured under a memorandum of understanding for a partnership signed by the Congolese Minister of Finance, Nicolas Kazadi, and the director general of the Arab Bank for the economic development of Africa (BADEA), Sidi Ould Tah, last weekend in Kinshasa. This signature comes after the approval of the memorandum of understanding in the Congolese parliament by a ratification law. A memorandum of understanding that should help strengthen the bilateral partnership between the two parties and pave the way for increased mobilization of public revenue in the DRC. This partnership, which…

The third edition of the Economic Community of West African States (ECOWAS) Mines and Petroleum Forum will be held in Niamey (Niger), from September 14 to 16, 2021. Called Ecomof in English, the event will take place around the theme “Integrating the mining and oil industries in the development of regional value chains”. And will bring together the main decision-makers of the public and private sectors of the mining and oil industries of West Africa with the same objective set since the first edition: to promote and develop the mining and oil potentials of the Member States, to ensure socio-economic…

ECOWAS, a community of 15 West African states including Nigeria, Ivory Coast and Ghana, projects an economic recovery in 2021 with a projected GDP increase of 3.5%. Announcement made this weekend by the heads of state of the region who gathered in Accra (Ghana). “After negative growth of 0.8% in 2020 linked to the negative effects of Covid-19, the Conference of Heads of State welcomes the recovery announced in 2021 with a projected GDP increase of 3.5% in 2021. It urges member states to speed up the implementation of economic recovery programs and projects to support the ongoing recovery, ”said…

Casablanca, June 21, 2021. Africa50, the pan-African infrastructure investment institution, announces the appointment of Ms. Tshepidi Moremong as Chief Operating Officer. Her appointment is effective July 1, 2021. The new COO will lead a multidisciplinary team responsible for fundraising, investor relations, strategy, human resources and administration, communications and governance environmental and social. Ms. Moremong has over twenty-two years of strategic leadership experience in private equity, corporate finance and business development. She joined Africa50 from Rand Merchant Bank (RMB) in South Africa where she was responsible for customer coverage for the rest of Africa outside South Africa, a position she had…

The Central African Financial Market Surveillance Commission (COSUMAF) reviewed market developments during the first six months of the year and decided to issue licenses to seven new market intermediaries whose activities cover all the countries of the Central African Economic and Monetary Community (CEMAC). This is the company Horus Investment Capital SA approved as a brokerage firm; David Clay Azambou Dongmo, Patrick Fomethe Momo, Issongo La-Ngatsesse Kiba and Sondia Gwet marries Nkembe, all four approved as Financial Investment Advisers; the company Okalla Ahanda & Associés as Statutory Auditors with an issuing entity making a public offering and the company LCB…

Adenia Partners, a private equity fund management company in Africa, announced on Monday, June 21, that it has acquired a majority stake in Herholdt’s, one of South Africa’s leading distributors of low-voltage electrical and solar products. . The amount of the transaction was not disclosed. This initiative aims primarily to strengthen the presence of the fund management company in the South African solar market. “We are delighted to begin our trip to South Africa by investing in Herholdt’s, a growing company with an impressive corporate culture. As a responsible investor, we have been particularly attracted by the potential for a…

The net banking income (NBI) of Bank Of Africa (BOA) Niger, a subsidiary of BMCE Bank group, recorded an increase of 7.55% at the end of the first quarter of 2021 compared to the first quarter of 2020, announced the leaders of this banking establishment based in Niamey. This NBI stood at FCFA 5.781 billion against FCFA 5.375 billion as of March 31, 2020. This change is caused by the 29.14% increase in the margin on commission which stood at FCFA 2.056 billion against 1.592 billion. FCFA a year ago. During the period under review, the bank kept its overheads…

Meeting on June 19, 2021 in Accra, the Heads of State and Government of the Economic Community of West African States (ECOWAS) officially announced the reappointment of Ghanaian Nana Akufo-Addo as head of the organization for a one-year term. Elected for the first time in September 2020 for one year in succession to the Nigerien Mahamadou Issifou, Nana Akufo-Addo inherits a new mandate in exchange for the withdrawal of her candidacy for the presidency of the African Union for the benefit of the Senegalese Macky Sall – position which returns to a country of the West African region from February…

In the Council of Ministers on June 18, 2021, President Félix Tshisekedi of DR Congo indicated that his country and the International Monetary Fund (IMF) have agreed on the content of a three-year program, which will be financed. by the Washington-based institution. According to the Congolese authorities, the validation of this three-year program by the management and the board of directors of the institution “would give access to other funding from other bilateral and multilateral donors”. At the end of May, IMF staff announced that they had reached an “agreement” with the Congolese party on “a financing plan of 1.5…

Debswana Diamond Company has announced the discovery of a 1,098-carat diamond at its mines in Botswana. This is the third largest such diamond ever found in the world. This stone, discovered on June 1, was shown to Botswanan President Mokgweetsi Masisi in the capital, Gaborone. It is the largest diamond recovered by Debswana in its more than 50-year history of mining, ”said Lynette Armstrong, acting general manager of the Debswana Diamond Company. The value of the stone discovered could be around 55 to 60 million dollars according to estimates. Established in 1969, Debswana Diamond Company is 50/50 owned by the…

The Democratic Republic of Congo, currently in the trade balance of goods, exports which amounted to 6.550 billion USD at the end of April 2021. Compared to the same period in 2020, they were at 3.8 billion USD of exports, almost double the exported value compared to last year. Thanks to the improvement in copper and cobalt prices on the international market, this increase in exports has led to an increase in liquidity in foreign currency in the Congolese economy. “This is what has made that through currency purchase operations and currency taxation, foreign exchange reserves are increasing today,” said…

The Commission is today announcing an additional € 20 million to finance a new hydropower plant in Rwanguba, which will provide an additional 15 megawatts of electricity. The European Union’s rapid response to the urgent environmental crisis in the Democratic Republic of the Congo has restored up to 96% of power lines and 35% of water pipes damaged in Goma due to the eruption of the Nyiragongo volcano on May 22. This has provided half a million people with access to safe drinking water and electricity in two major hospitals. Speaking at the panel discussion on Virunga Park as part…

By Michel BRIZOUA-BI, Lawyer After June 17, there will inevitably come another day, June 18. We will realize that there was no earthquake at the edge of the Ebrié lagoon when a plane landed, that the day in Eburnie always lasts 24 hours neither more nor less, than after the weather of war one day you have to sit down to discuss how to make peace, that after the tears of the sufferings endured, when the calabash reaches its overflow, think about stopping because everyone wants to move forward , that the sounds of our mythical dances the zaouli, the…

Announced in 2015, the work of the Biokala biomass plant, aimed at increasing the energy mix in Côte d’Ivoire with the promotion of renewable energies, will start in September 2021 according to the project stakeholders. At a cost of nearly 200 million euros, this plant, which will produce 337 GW of energy / year from oil palm residues of more than 400,000 tons / year, will generate nearly 20 billion FCA of additional income in the palm sector and provide 1.7 million people with electricity each year, at a rate of 62 CFA francs / kWh. Located in Aboisso, 100…

After 10 years of absence, Laurent Gbagbo, the former Ivorian president, effectively set foot on Abidjan soil on Thursday, June 17 from Brussels, the Belgian capital where he had been living since his acquittal by the International Criminal Court (ICC). Thursday June 17th. It sounds 4:19 pm local time when the regular Brussels Airlines flight from the Belgian capital lands on the tarmac at Félix Houphouët-Boigny airport in Abidjan. On board, Laurent Gbagbo, the former Ivorian president accompanied by Nady Bamba, his second wife, and some members of his college of lawyers, notably Me Altit (main counsel), Me Jennifer Nouarie…

Investors strongly subscribed to the issue of 3-year Treasury-equivalent stimulus bonds (ORD) launched on June 17, 2021 on the West African Monetary Union (UMOA) financial market by the State of Benin, with a coverage rate of the amount put out to tender of 304.40%. At the end of the auction, the UMOA-Titres agency identified 182.642 billion FCFA in aggregate bids from investors for an amount auctioned by the issuer of 60 billion FCFA. From the amount of these bids, the Beninese Public Treasury retained 66 billion FCFA and rejected the remaining 116.642 billion FCFA, ie an absorption rate of 36.14%.…

BMCE Capital Investments will now be able to take a stake in the capital of companies in need of financing, in this context of crisis linked to the Covid-19 pandemic. Indeed, the investment banking division of Bank of Africa obtained by decree (n ° 1111-21 of May 3, 2021) from the Minister of the Economy, Finance and the Reform of the Administration after opinion of the Moroccan Capital Market Authority (AMMC), approval for the exercise of the activity of management company of collective investment undertakings in capital (OPCC). On the capital market, BMCE Capital will use OPCCs as an investment…

Announced in Abidjan around 3:45 pm from Brussels (Belgium), the plane of the former Ivorian president, Laurent Gbagbo, will arrive with a small delay at the Félix Houphouet Boigny airport in Abidjan. Besides this fact, activists are divided over Simone Gbagbo’s presence at the airport to welcome her husband. In a tweet published on Wednesday, June 16, Me Dadjé Rodrigue, Simone Gbagabo’s lawyer, said he was shocked by a statement by Monnet Léon Emmanuel, advising Simone Gbagbo not to take part in welcoming the ex President. “I learned this evening that Mr. Monnet Léon, the general coordinator of the organization…

Laurent Gbagbo flew on June 17 from Brussels on Brussels Airlines flight SN 299, from which he made a “return to his native country” after ten years of absence. He is accompanied by his second wife Nadiana Bamba known as “Nady” as well as his unwavering lawyer Habiba Touré. For several months, the latter has been busy organizing this trip. In particular, she managed the granting of the passport to the former Ivorian president when the Alassane Ouattara regime had long been reluctant to grant it to her. Arrested in April 2011 at the end of the troubled presidential election…

The International Criminal Court (ICC) has a new attorney general. This is the British lawyer Karim Khan (51 years old) invested on June 16, 2021. He succeeds the Gambian Fatou Bensouda, who came to the end of her term started on June 15, 2012. He became the third prosecutor general of the ICC, which was created in 2002 to try the worst atrocities in the world. Elected for nine years, the attorney general is responsible for initiating investigations and laying charges against suspects. “We can’t invest that much, we can’t raise so much expectation and get so little, so often…

Ten years after its shipment as a bulky package to the International Criminal Court (ICC), Laurent Gbagbo returned to the fold aboard Brussel Airline at around 2 p.m. Seen from the ordinary Ivorian, the event as important as the Big Bang, should be visible from the international space station. The fervor is at its height. But is it really the real Laurent Gbagbo who returns? Left like a hawk with sharp talons, the leader of the FPI returns, like a white dove, an olive branch in his hand. An ideological shift? In any case, the patriotic leader has only one…