Author: Albert Savana

The health crisis linked to the coronavirus, the impact of which is significant on economic activities, affects more small and medium-sized enterprises (SMEs) which saw their turnover fall by more than 80% at the end of 2020. A difficult situation for the national economy whose SMEs represent more than 90% of the economic fabric and contribute more than 35% of the GDP (gross domestic product). The study conducted by the Ministry of Small and Medium Enterprises, Social Economy and Handicrafts reveals that the tertiary sector, which accounts for 51.5% of GDP and employs 42% of the working population, is the…

As of the end of December 2020, 10 Ivorian public enterprises have achieved cumulative losses of 56.6 billion CFA francs against a cumulative forecast deficit of 26.4 billion CFA francs (approximately 103 million USD), according to the government spokesperson, Amadou. Coulibaly. We can cite, among others, Sodexam (-4.4 billion Fcfa), Petroci Holding (-4.4 billion Fcfa), Poste CI (-4.3 billion Fcfa), Sotra (-1.8 billion Fcfa ) and Sodertour-Lacs (-1.4 billion Fcfa). “This poor performance can be explained, for the vast majority of these companies, especially those in the transport and hotel sectors, by the context of the health crisis. For the…

The Togolese government announced, on June 16, 2021, its intention to sell all or part of the State’s shares in the capital of the company “Mécanisme incitatif de financement agricole (MIFA SA)” to the PIA and ARISE Special Economic Zone, two entities controlled by Olam International and the Africa Finance Corporation (AFC). This entry of the two new shareholders in the round table, according to an official note, aims to “better mobilize this tool to support the agro-industrial development strategy of our country, in particular within the framework of the development of the Industrial Platform of Adétikopé” inaugurated June 6,…

Discreet but ambitious, Barbados intends to become a key economic player between Africa and the Caribbean region. Indeed, Bridgetown wants to develop its economic partnerships through an investment policy focused on the continent. In this interview with Financial Afrik, Senegalese Modou Diagne, in charge of relations with Africa at Barbados Investment and development corporation, a government agency in Barbados, reviews the strategy implemented by the Caribbean island state in this effect. Many Africans do not locate Barbados on a world map. However, this Caribbean island state will develop an investment policy towards the African continent. You who are Senegalese and…

The National Council of the Order of Architects of Côte d’Ivoire (CNOA) is organizing, from December 8 to 11, 2021 in Abidjan, the eighth edition of the Architecture and Building Fair called “Archibat”. A biennial for professionals in the built environment which, this year, is held around the theme: “The making of the city for professionals”. According to the organizers, this theme was chosen well because, according to Koupo Gnoléba, interim president of the CNOA, “not everyone builds the city”. While the current observation is that “for three decades, the urban environment has changed. But these socio-economic transformations have produced…

Like the Inter-African Conference on Insurance Markets (CIMA) where the insurance penetration rate remains very low, covering barely 1.1% of inhabitants, insurance is struggling to become established. in Cameroon, with less than 2% of the population covered regardless of enormous potential. The Association of Insurance Companies of Cameroon (ASAC), based on “the real possibilities” of market development, militates for the generalization of insurance through the establishment of compulsory insurance subscription in order to boost the activity and improve national coverage. In this perspective, it plans to “amplify the action of the State in favor of the development of insurance by…

European digital banking platform provider Layer announced on Wednesday (June 16) its partnership with United Bank for Africa (UBA) to help the bank digitize its banking services. This new partnership involves around 18 million users in 25 countries in Africa and Europe. Essentially, the initiative aims to provide better access to a wider range of financial services to UBA clients. “We have conducted a very thorough evaluation process of digital banking providers / platforms in the global market, considering technological advancements, feature richness, cost effectiveness of ownership and smooth implementation approach. Said Kennedy Uzoka, general manager of the UBA group.…

Another setback for AstraZeneca. The Anglo-Swedish pharmaceutical group announced on Tuesday that the treatment against the coronavirus it is currently developing has not proven effective in people exposed to the virus. “The trial failed to achieve the primary goal of preventing symptomatic Covid-19 cases after exposure” to the virus, AstraZeneca said in a statement. Antibody therapy, codenamed AZD7442, was expected to both prevent and treat the disease. It was in phase 3 of development, that is, in large-scale clinical trials to measure its safety and effectiveness. The 1,121 participants were adults over the age of 18 who had not been…

The Sopam SA company of Burkinabé businessman Panguéba Mohamed Sogli announces the seizure of the accounts and property of the Bolloré group in connection with the Komsilga electronic central case against Sagatrans, a subsidiary of the French group. This is a rebounding case relating to the delivery of a power plant signed in 2010 and...

Kounsitel, a little over 18,000 inhabitants, is a peaceful village and one of the seven rural communes of the Gaoual prefecture located in the north-west of Guinea, just over 378 km from Conakry. Anchored in Fouta Djallon, the locality comes under the administrative region of Boké. The annual rainfall oscillates around 1,900 mm, which makes the locality an agricultural area par excellence. In fact, the populations of the Kounsitel sub-prefecture are straddling livestock, which is the main activity of the region, and is also recognized as being the first in Guinea in this area and agricultural and commercial activities. The…

The Kinshasa / Gombe Court of Appeal on Tuesday (June 15) reduced the sentence of the president’s former chief of staff, Vital Kamerhe, from 20 to 13 years of forced labor. He was convicted at first instance in June 2020 for “embezzlement of public funds” and “aggravated corruption” as part of the work of the “100 Days Program” launched by Félix Tshisekedi after his inauguration in January 2019. His co-accused, the Lebanese entrepreneur Samih Jammal, owner of the companies Samibo Congo SARL and Husmal, is sentenced to six years of hard labor on appeal. He was sued for having benefited…

The State of Côte d’Ivoire, through its Public Treasury, raised on June 15, 2021, an amount of 65 billion FCFA (97.500 million euros) at the end of its simultaneous issue of bonds and bonds. stimulus (ORD) of the Treasury with a maturity of 182 days and 3 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 individuals and moral standards in order to ensure the financing needs of…

Conakry Terminal, a subsidiary of Bolloré Ports and operator of the Port Autonome de Conakry container terminal, has just launched new online payment solutions for its customers. Thanks to dematerialized payment, the pillar of the “Green Terminal” label, Conakry terminal will limit its customers’ journeys and reduce CO2 emissions linked to the port operator’s bill processing and payment operations. These electronic payment solutions will indeed facilitate the payment process and improve the processing time of customer files. They have been deployed within Conakry Terminal in partnership with various organizations including Intouch, Orange Money, MTN-MoMo and YUP Money. The electronic payment…

After acquiring the agricultural bank Grobank last March, the Nigerian Access Bank Group officially landed on the South African banking market. The Lagos-based bank proceeded, Monday, June 14, to the official launch of its activities of its subsidiary called “Access Bank South Africa”. “We will do everything to make our mark on the South African banking market and also face competition in the retail sector,” said Bennie van Rooy, Managing Director of Access Bank. “We will be launching a retail bank in South Africa, with a combination of physical branches. We are going to open at least three, if not…

Total Senegal, a subsidiary of the multinational Total Energies Marketing and specializing in the distribution of petroleum products, will pay its shareholders at the end of July 2021, for the 2020 financial year, an annual net dividend of 7.284 billion FCFA (10.926 million euros ), announced the leaders of this Dakar-based company. Compared to the 32,577,700 shares that make up the capital of this company, this corresponds to a net dividend per share of 223.6 FCFA against 105.30 FCFA in 2019, an increase of 118.3 FCFA. At the end of fiscal year 2020, Total Senegal had made an after-tax profit…

Cotton production is on the rise again after poor performance in recent seasons which almost led to the liquidation of the state-owned company, Coton-Tchad. Updated statistics show that the capital acquisition in 2018 by the Singaporean multinational Olam, which controls 60% of the company’s shares, 35% going to the State and 5% to producers, has made it possible to revive activity and increase production. yield. For the 2020-2021 season, cotton production reached 125,000 tonnes against 116,000 tonnes the previous season and 76,000 tonnes three years ago. An evolutionary trend which should be consolidated through the increase in cultivable areas and…

Amazon mogul Jeff Bezos is the most interested entrepreneur whose net worth people are with an astonishing 971,000 global average monthly online searches for “Jeff Bezos net worth,” reports MoneyTransfers. In second place (see table) is Tesla maverick Elon Musk who receives an average of 779,000 online searches worldwide per month from those who want to discover his net worth. Facebook boss Mark Zuckberg is in fourth place with an average of 125,000 global online searches per month for “Mark Zuckberg’s net worth.” Sports entrepreneurs also feature prominently in the top 10, with Ultimate Fighting Championship (UFC) President Dana White…

The International Finance Corporation (IFC), the African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) announced on June 13, 2021 on the sidelines of the summit of the G7 held in the United Kingdom, their commitment to mobilize $ 80 billion for the benefit of the African private sector over the next 5 years. The aim is to boost the economic recovery on the continent and lay the foundations for sustainable growth. By injecting these funds into the African private sector, these financial institutions are supported in long-term development through job…

Building on the success of the conference organized on Saturday, June 15, 2019 on the theme: “The New Silk Roads and Africa: the case of Côte d’Ivoire” – in partnership with the Houphouët-Boigny Foundation for Research in Peace, the district of Yamoussoukro and the National Polytechnic Institute Houphouët-Boigny (INPHB) – the Association for the Safeguarding and Promotion of Thought of El Hadj-Boubacar Gamby Sakho (ASPP-BGS) held on Friday, June 11 2021, a second conference on the theme: “Africa enters the space age: the case of Côte d’Ivoire”. The conference was held in the Ufr of Medical Sciences of the Houphouët-Boigny…

Nicknamed Rambo, the former prime minister and president of the Mauritian Republic, Sir Anerood Jugnauth (the great SAJ), died Thursday, June 3 at the age of 91 after 56 years of presence in the political life of this island country . Six times prime minister and president for 9 years, he was the antithesis of Putin’s interventionism for which democracy must give way to reason of state and the economy. Leader of the political opposition between 1976 and 1982 in a political party, the MMM, of Marxist obedience, he became Prime Minister for the first time in 1982, chaining four…

The overall situation in the countries of the Economic and Monetary Community of Central Africa (CEMAC) in the first half of 2020 is marked by a downward trend in the supply of credit observed since the second half of 2018, reports the Bank of States of Central Africa (BEAC). In a conjuncture note published on June 14, 2021 that Financial Afrik was able to consult, the Central Bank notes that the total amount of new loans put in place during this semester stood at 3,009 billion FCFA (5.5 billion) down 17.98% compared to the previous semester of 3,668 billion ($…

The Egyptian agency responsible for the development of medium, small and very small enterprises (MSMEDA) has partnered with Banque Misr to support Egyptian micro enterprises. The agreement provides for funding of 500 million Egyptian pounds, EGP (32 million USD) to companies. This agreement was signed this weekend by Tarek Shash, deputy executive director of MSMEDA, and Akef El Maghraby, vice-president of Banque Misr. “About 10,000 micro-loans will be granted throughout Egypt, with a maximum of EGP 250,000 (USD 16,043.04) per loan, depending on the production and marketing capacities of each company,” said Nevine Gamea. , Minister of Commerce and Industry…

The World Bank approved a loan of $ 250 million to Botswana on Monday (June 14th). This amount will be used to finance its development policy support loan program (DPL). This plan is also designed to support reforms aimed at strengthening private sector development and promoting green recovery. “The Covid-19 pandemic has placed a heavy burden on the country’s economy, its people and its businesses. With this operation, the World Bank will support government reforms to ensure that social spending reaches the poorest and helps Batswana people who are most affected by Covid-19, ”said the World Bank’s country director for…

The World Bank is granting USD 50 million to the Disarmament, Demobilization, Recovery, Community and Stabilization Program (P-DDRCS) in DR Congo, a financial support that President Félix-Antoine Tshisekedi welcomed on Sunday, June 13, 2021 in Goma, capital from the province of North Kivu. “This time, there is something concrete. I salute the support of the World Bank which gives us 50 million USD to start. It’s a process that will work. Because, we will take care of these militiamen from their release until their reintegration “, rejoiced the head of the Congolese state, who made the announcement. Pending the issuance…

Industrial production in the West African Economic and Monetary Union (UEMOA) recorded a moderate increase of 1.3% in 2020 after achieving 6.5% a year earlier, according to data from the Central Bank of the States of the United States. West Africa (BCEAO) based in Dakar. “This deceleration is imprinted by the 3.9% decline in production in industries in the food sector, in connection with a contraction of their production capacities and the disruption of distribution circuits”, indicates the institute of issue in its 2020 annual report. However, this deceleration was mitigated by an increase in production in the extractive industry…

Nigeria’s public debt stood at USD 87.24 billion in the first quarter of 2021 according to a report by the National Debt Management Office (DMO). That is an increase of 10% year-on-year. This development, it is said, can be explained, among other things, by the bond loans contracted by the Nigerian authorities on the local market in order to finance infrastructure projects over the period. Moreover, the stock is made up of 62.33% of domestic debt, and 37.67% of external debt. As of December 31, 2020, Nigeria’s public debt stood at USD 86.5 billion according to the DMO, up 20.13%…

The Moroccan group OCP announced the success of a bond issue on international markets for a total amount of US $ 1.5 billion, composed of two tranches of 10 and 30 years maturities, with respective coupons of 3.750% and 5.125%. The operation, entrusted to Barclay’s banks, BNP Paribas and JPMorgan, recorded a subscription of more than 4.7 times for a total of around 7 billion dollars for the two tranches, allowing a significant tightening of the rates for both. maturities. OCP was advised on this transaction by Rothschild & Co. The funds raised will be used to finance the second…

GDP at current price per capita in WAEMU increased from 675,000 FCFA to 735,000 FCFA (about 1,355 USD) between 2019 and 2020, according to estimates by the Central Bank of West African States (BCEAO). This represents an annual increase of around 9%. With a GDP / capita estimated at 463,600 FCFA in 2020 against 448,800 in 2019, Burkina Faso records the largest increase in the West African region with the CFA Franc in common (around +3.2), ahead of Benin (+1, 5) and Niger (+0.32). Those are the three economies that ended the year in positive territory out of the eight.…

CFAO Motors Côte d’Ivoire will pay its shareholders as of June 25, 2021, for the 2020 financial year, an overall net dividend of 4.017 billion FCFA (6.025 million euros), according to the draft resolution proposed by the Board of Directors for the Ordinary General Meeting to be held on June 15, 2021. It results from the proposal to allocate the result for fiscal year 2020 (of CFAF 3.779 billion, down 28.08% compared to 2019) gross dividends to be paid of CFAF 4.463 billion, i.e. a gross dividend per share. of 24.61 FCFA. After deducting the 10% tax on income from…

By announcing on June 10 the withdrawal of the Barkhane force as an External Operation (Opex) does Emmanuel Macron assume the possibility of a rise in Russia’s power in Mali, a country in his area of ​​influence? Launched in August 2014 to replace operations Serval in Mali and Epervier in Chad, this force of 5,100 men engaged in the fight against terrorism in five states (Burkina Faso, Mali, Niger, Chad and Mauritania) is falling back on an admission of failure . Not only were intra-community violence and jihadist expansion not contained in West Africa like the recent Solhan massacre in…