Author: Albert Savana

The estimated overall volume of government securities that the member countries of the West African Economic and Monetary Union (UEMOA) plan to issue by auction during the third quarter of 2021 amounts to CFAF 1,075 billion (€ 1.612 billion), announced the officials of the UMOA-Titres Agency based in Dakar. In a note addressed to investors...

More than three weeks after his return to Côte d’Ivoire, ex-president Laurent Gbagbo began his political agenda on Saturday July 10 with a visit to Henri Konan Bédié (also ex-president) in his stronghold in Daoukro (East ). Back in Côte d’Ivoire since June 17 after his acquittal by the International Criminal Court (ICC), Laurent Gbagbo began a 48-hour visit to Henri Konan Bédié, president of the Democratic Party of Côte d’Ivoire (PDCI) in its stronghold in the east of the country. According to indiscretions the staffs of these two “heavyweights” of Ivorian politics will find themselves “out of sight” this…

A global agreement of 6.75 million euros was signed on Friday July 9, 2021 between the State of Senegal and the European Investment Bank (EIB) for the establishment of a production plant for vaccines against the Covid-19. The amount will finance the carrying out of technical feasibility studies and the preparation of a regional production pole within the Institut Pasteur in Dakar. The initiative is supported by the Government of Senegal and international financial partners. The non-repayable funding includes 4.75 million euros from the European Commission and the European Investment Bank (EIB), 200,000 euros from Germany and 1.8 million euros…

-The elephant sheltered from exogenous shocks thanks to its membership in the UEMOA zone. -An increased robustness through the special BCEAO window for the refinancing of “COVID-19 Treasury bills.” S&P Global Ratings has assigned Côte d’Ivoire, as of July 6, 2021, long and short-term sovereign credit ratings in foreign and local currencies “BB- / B”. The outlook is stable denoting the balance between expectations of strong economic growth, supported by improved policymaking supporting a decline in twin deficits in the coming years and, on the other hand, the risk of fiscal slippage and persistent socio-political tensions. S & P’s opinion…

The Senegal Housing Bank (BHS) will proceed on July 10, 2021 to the payment of the half-yearly interest on its bond loan by public offering called “Diaspora bonds BHS 6.25% 2019-2024” for an amount of 625 million FCFA (937,500 euros). During the period from May 16 to June 17, 2019, this banking establishment specializing in housing finance had successfully raised on the West African Monetary Union (WAMU) financial market an amount of 20 billion FCFA. As such, he had issued 2 million bonds with a nominal value and an issue price of 10,000 FCFA. Through the funds raised, the bank…

WAMU’s banking sector net income grew 19.8% compared to 2019, according to data from the Banking Commission’s annual report. It stands at 551.8 billion FCFA (approximately 994 million USD), against 460.6 billion in 2019 in a context marked by the Covid-19 pandemic. According to the 312-page document consulted by Financial Afrik, Ivorian banks posted a profit of 242.5 billion (nearly 45%), leading the list far ahead of those of Burkina (92.5 billion), Senegal ( 85.4 billion), and Mali (61.9 billion). Beninese institutions recorded a profit of 24.5 billion, just ahead of those of Niger (23.9 billion). The Togolese and Bissau-Guinean…

In the Democratic Republic of the Congo, the Public Treasury collected more than USD 945 million in May and June 2021, in execution of the government’s triple strategy of mobilizing revenue through the strengthening of control mechanisms at all levels, rationalization expenditure and the promotion of transparency in the management of public finances. According to data communicated by the Minister of Finance, Nicolas Kazadi, in the Council of Ministers on July 2, 2021, the financial authorities mobilized 938.5 billion Congolese francs (454 million USD at the average budget rate of 2067 FC per US dollar) in June 2021, i.e. an…

Nigeria: First City Monument Bank at the bedside of female entrepreneurship The Board of Directors of the African Development Bank (AfDB) has approved a $ 50 million loan to the First City Monument Bank (FCMB). This amount is intended for local businesses and women-empowered businesses in the agribusiness, manufacturing, health and renewable energy sectors. “The AfDB is pleased to support FCMB’s strategy to become a dominant player to meet the financing needs of local businesses. This project will extend valuable resources to critical but underserved segments during the ongoing Covid-19 pandemic, with its negative macroeconomic impacts, ”said Stefan Nalletamby, AfDB…

The Nigerien Treasury is issuing a simultaneous bond of 60 billion FCFA on the West African Monetary Union (WAEMU) market on Friday July 9. The first bond has a maturity of 5 years, ie July 9, 2026, with an interest rate of 5.9% for a nominal value of 10,000 FCFA. The second has a maturity of 7 years with an interest rate of 6.15 for the same face value. The Treasury announces a 10-year maturity for the third bond with an interest rate of 6.2500%.

Sentenced to fifteen months in prison by the justice of his country, the former South African president Jacob Zuma was taken prisoner Wednesday evening just a few minutes before the deadline for the ultimatum set by the justice. The former head of state in office between 2009 and 2018 thus spent a first night in his new conditions. “Former South African President Jacob Zuma has been taken into custody,” the Police Department said on Twitter. Shortly after the announcement of his decision to “comply with the order of incarceration”, made by the foundation that represents him. This is not “an…

On July 16, 2021, the Ivorian company Uniwax S.A, specializing in the manufacture of textiles, will pay its shareholders, for the 2020 financial year, an overall net dividend of CFAF 373.500 million (€ 560,250). Compared to the 20.750 million shares that make up the company’s share capital, the net dividend per share stands at 18FCFA against 181.80 FCFA in 2018. The 2019 financial year did not result in a distribution of dividends. The net dividend per share to be distributed on July 16 represents 9% of the nominal value of the share, which is 200 FCFA. At the end of…

After shrinking by around 13% in 2020, Seychelles’s gross domestic product (GDP) is expected to grow 7.7% in 2021, according to forecasts released on July 7, 2021 by the International Monetary Fund (IMF). This announcement comes following a two-week mission carried out by the Fund between late June and early July in the country. “The IMF team welcomes the progress made by the authorities in the fight against the Covid-19 pandemic. As Seychelles (…) reopened its borders on March 25, 2021, tourists returned and economic activity started to pick up, ”says the IMF. “There has been a recent upsurge in…

The Bank of Central African States (BEAC) appointed a new national director for Chad on July 1, 2021 following the end of the board of directors of the monetary issuing institution of the sub-region. held in its central services in Yaoundé. A decision which confirms the choice made by the Chadian authorities, in particular the National Transitional Council (CNT), one of the first decisions of which after coming to power in April was the dismissal of the national director of the BEAC Annour Mahamat Hassan, to whom “The highest Chadian authorities have decided to withdraw confidence”. According to our information,…

Since the announcement by the regulator, the National Lottery of Guinea (Lonagui), of the termination of the Guinea Games concession contract and the takeover of the sports betting company headed by businessman Antonio Souaré, the two entities are engaged in a communication battle through interposed media. The first seeking to justify its decision, the second attempting to prove its legitimacy and good faith. The general management of Guinea Games had until then opted for the strategy of silence and presumably to prepare its defense in order to retaliate with its army of lawyers. It had not made any official statement…

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…