Author: Albert Savana

Kenya Airways (KQ) announced Tuesday, June 8, that it had chosen a British consulting firm, Steer Group, to develop its recovery plans. This decision follows the situation of an airline which is suffering the full brunt of the effects of the coronavirus pandemic. The disease resulted in considerable financial losses as well as a drop in the number of passengers. Allan Kilavuka, CEO of KQ, said Kenya Airways has developed short, medium and long term strategies to help achieve two main goals. It’s about surviving today’s depressed market, and implementing strategies that will make the business more sustainable in the…

The cumulative net money transfers (difference between transfers received and those made) received by credit institutions in Senegal reached CFAF 330.4 billion (€ 495.600 million) at the end of the first quarter of 2021, according to data from the Department of Currency and Credit (DMC) of the Ministry of Finance and Budget based in Dakar. Compared to the first quarter of 2020 when they amounted to CFAF 254.2 billion, these net money transfers have increased by 30.0%. During the period under review, rapid money transfers received by Senegalese credit institutions amounted to CFAF 374.4 billion against CFAF 298.3 billion in…

Inaugurated on June 6 by the Togolese head of state, Faure Gnassingbé, the Adétikopé industrial platform (PIA) is a major milestone in the country’s development policy, which it aims to transform into an industrial hub. Close-up on this PPP model which, after having proved its worth in Gabon, has already been replicated in Benin under the leadership of ARISE IIP, developer of special economic zones in Africa. Eleven years after developing its first SEZ in Nkok (1,126 ha 27km from Libreville), Gabon, ARISE IIP inaugurated two other industrial zones four months apart, in West Africa this time: first in Benin…

As part of the strategic redeployment of the “Securities” activity of the BCP group, Médiafinance is changing its name and is now called BCP Securities Services (BCP2S). The new name notably reinforces its backing to the BCP group and marks its specialization in all securities-related services (“Securities Services”). This change comes in the continuity of the evolution operated by the BCP group in terms of its brand identity with the aim of supporting its in-depth transformation, initiated in Morocco and internationally. BCP Securities Services is thus sporting a new logo, incorporating the emblem of the circled horse, marking its membership…

The International Monetary Fund (IMF) and Gabon are in negotiations to complete a new program supported by the Extended Credit Facility (ECF). These talks are slated to end on June 7, before the board of directors of the Bretton Woods institution decides “on the agreement to a new program before July 15,” a source tells us in Washington. The IMF preparatory mission has decided, according to the information in our possession, to extend the credit period to a new extended credit facility program for 2021-2023. Indeed, the mission of the Washington administrators was to agree on the budgetary framework for…

For the protection of its cyberspace, Côte d’Ivoire has just adopted a National Cyber ​​Security Strategy 2020 – 2025, revealed the Ivorian Minister of the Digital Economy, Telecommunications and Innovation, Roger Adom, at the opening of the Cyber ​​Africa Forum held this Monday, June 7 in Abidjan. According to Roger Adom, this new ambition of the government can be explained by the new impetus set in motion at the level of the policy to protect its cyberspace. “The vision of the State of Côte d’Ivoire in defining its strategy is to support the growth of the national economy by providing…

The Paris Court of Appeal dampened the hopes of the Congolese President, Denis Sassou Nguesso, of flying one day on his luxurious Falcon 7X acquired in 2014. In a judgment of June 3, the court did not grant the request of Brazzaville to release the plane seized, in June 2020, at Bordeaux-Mérignac airport, in the...

As part of the response to the Covid-19 pandemic, donations received by member countries of the West African Economic and Monetary Union (UEMOA) increased sharply by 60.4% at the end of 2020 compared to 2019, according to data from the Central Bank of West African States (BCEAO) based in Dakar. These donations, which mainly come...

After his second coup in nine months, Colonel Assimi Goita has just been sworn in on Monday, June 07, 2021 in Bamako. This oath took place in the presence of members of the Supreme Court. Speaking to the Malian people, Assimi Goïta said he has decided to reduce the state’s standard of living. “From that moment I decided to reduce the state’s standard of living. For this, the first measure is to cancel 2/3, the sovereignty fund, “he suggested. According to several observers, the seizure of power by the high-ranking even reassures some Bamakois, disappointed with the policies: “I want…

The President of the Togolese Republic, H.E.M. Faure Essozimna Gnassingbé, proceeded, Sunday, June 6, 2021, to the inauguration of the Industrial Platform of Adétikopé (PIA). The achievement of this flagship of the country’s agro-industrial policy is part of the National Development Plan 2018-2022 (PND) and the Government Road Map Togo 2025. The result of a public-private partnership, this Integrated ecosystem spread over 400 hectares and located 15km north of the capital will play a catalytic role in supporting economic growth and regional integration. Fueled 90% by renewable energies, this integrated industrial zone will promote the local processing of raw materials,…

The after-tax profit of the Société d’études et de travaux pour d’Afrique de l’Ouest (SETAO), a subsidiary of the Bouygues group specializing in consulting and engineering services in the field of building and public works (BTP ), saw a sharp increase of 168% at the end of fiscal year 2020 compared to the previous fiscal year. The provisional annual results for the year under review highlight a profit of 2.321 billion FCFA against 866 million FCFA as of December 31, 2019, an increase of 1.455 billion FCFA. SETAO’s turnover stood at 15.900 billion FCFA against 9.277 billion FCFA in 2019,…

The restrictive measures linked to the response against Covid-19 enacted by the Kingdom of the Cherifian are starting to give results. This is in essence what is stated in a press release from the Moroccan Ministry of Foreign Affairs, published this Sunday, June 6, which announces the resumption of flights to and from the Kingdom of Morocco as of Tuesday, June 15, 2021. The document specifies, however, that these new progressive measures to relax restrictions on the movement of travelers mainly aim to facilitate the return to the country of Moroccans residing abroad. As the Kingdom’s airspace is still closed,…

The depreciation of commodity prices on the international market, in particular the fall in the price of oil, which constitutes more than 80% of the country’s income, has plunged Chad into a worrying difficult socioeconomic situation. At the end of the humanitarian-development-peace meeting and the joint launch of the 2021 humanitarian response plan and the response plan for refugees held on June 4 in Ndjamena, it emerges that the humanitarian needs are greater because of the economic slump. and security concerns that swallow up large sums of money that could have been injected into the economic circuit. In response, the…

For the first time in a decade, the profit made by Nestlé Côte d’Ivoire will allow dividends to be distributed to shareholders at the rate of CFAF 363.665 net per share. What is more, this decision endorsed by the general meeting of June 4 comes at a time when the Nestlé CI (NTLC) share, up 868, 75% compared to the previous year, is currently one of the most popular stocks. on the regional stock exchange (BRVM). “The activities in 2020 took place in a relatively difficult social and economic environment, marked by an unprecedented health crisis linked to the COVID19…

The Monetary Policy Council of the Central Bank of Mauritania held a meeting on Friday, 05/28/2021, under the chairmanship of Mr. Cheikh El Kebir Moulaye Taher, Governor of the Central Bank of Mauritania. During this meeting, the Council followed a presentation on the analysis of recent developments in national and international economic conditions. Internationally, the global economic recovery remains dependent on the evolution of the Covid-19 pandemic. The vaccination campaign and the ongoing deconfinement in most developed and emerging countries are raising optimism for a rapid improvement in growth prospects globally. According to the latest IMF forecasts, global growth is…

Bitcoin has seen its value drop from $ 64,000 in April to $ 36,000 today. While the big conference on cryptocurrency, bringing together stars and stock marketers was held on June 4 in Miami, virtual currency continued to tumble on trading platforms, raising concerns and questions especially on the part of those who joined the wave of buyers from the month of April with the ardent faith of the new converts. To those who hoped for the Promised Land on the strength of an angry tweet from Elon Musk, the disillusionment is great. In two months, the gains of the…

Changes have taken place within the Association of Insurance Companies of Cameroon (ASAC) with the election of Thierry Kependen as the head of this professional organization. Managing Director of AXA-Cameroon, he replaces Théophile Gérard Moulong, Managing Director of Saham, now Sanlam Assurance, who will have spent four years at the head of this corporation. During his term of office, the new president of ASAC will be assisted respectively by Richard Lowé, president and CEO of the Activa Assurance group and Olivier Marâtre of Allianz Assurance. At the head of AXA Assurance for more than ten years, Thierry Kependen, who began…

In the perspective of the presidential elections of 2023 in the Democratic Republic of the Congo, Noël Tshiani Muadiamvita, former presidential candidate of December 2018, set fire to the powders with his bill specifying that “one must be Congolese of father and mother ”To claim the supreme chair and certain functions. A proposition that smacks...

Thanks to savings made in tax charges, in particular on industrial and commercial profit, the net profit of Sucrivoire SA, which specializes in the manufacture of sugar, jumped 35% in the first quarter of 2021 compared to the same period. of 2020, announced the leaders of this company based in Borotou, a locality located in...

The first pan-African insurer approved for insurance on the Congolese market since 2019, the ACTIVA Group confirms its ambitions for this country by creating a second company, Activa Vie RDC, which has just been approved by ARCA to underwrite risks related to death, savings and capitalization. The company starts with a fully paid-up share capital of $ 9,894,165. The ACTIVA Group thus becomes the first pan-African to offer a one-stop-shop for life and non-life insurance needs, underwritten and managed by insurance professionals recognized across the continent. It relies on a network of subsidiaries operating in 10 countries and insurance partners…

Ainina Diallo, founder of Trading Versity, has found a niche that could be a significant growth breeding ground for West Africa. “The Pan-African Stock Market University” is what Trading Versity might call itself. This is the first West African campus dedicated to finance and trading. This structure trains 834 students per year. Created by the...

••• But the country’s risk profile is still moderate As part of the investment risk assessment, Côte d’Ivoire scores 5.6 in 2021 against 5.7 last year, a drop of 100 basis points. This is what emerges from the report by the agency Bloomfield Investment Corporation on the country risk assessment of the Ivory Coast. Highlight of the 5th edition of the Bloomfield conference on country risk, held on Thursday, June 3 in Abidjan, face-to-face and online, this report provides a complete diagnosis of the risks of the first WAEMU economy in its economic situation and its structure. . For Bloomfield…

The announcement comes after Emmanuel Macron said in an interview with the Journal du Dimanche that the question of a French army withdrawal from Mali arose after the new military coup in Bamako in May. “Pending these guarantees, France (…) has decided to suspend, as a precautionary and temporary measure, joint military operations with the Malian forces as well as national advisory missions for their benefit,” he said. added. “These decisions will be reassessed in the coming days in the light of the answers that will be provided by the Malian authorities”, explains a press release from the French government.…

A certain excitement gripped the passengers on flight AF 865 from N’Djaména, Chad, after arriving at Roissy airport on the afternoon of June 3. As soon as the aircraft landed, the French government’s interministerial crisis unit chaired by the Minister of the Interior, Gérard Darmanin, in the absence of Prime Minister Jean Castex, traveling in...

From green copper (corn) to rice cultivation, Moïse Katumbi is expanding his agricultural activity. Land is indeed the resource without which there can be no crops, livestock or forestry. Thus, the potential for expanding cultivated areas is one of the main aspects to be considered in planning the development of agriculture in a country. This is what explains the return to the land of Moses Katumbi. Two years after his return from exile, favored by the coming to power of President Felix Tshisekedi, Moïse Katumbi, who has returned to his business in the country, particularly in his stronghold of Lubumbashi,…

Bilateral trade between the Democratic Republic of Congo and China has reached 4.2 billion USD with annual growth of 4.6% between January and April 2021, Chinese Ambassador to the DRC Zhu Jing told reporters. June 2, 2021 at his residence in Kinshasa. Soon to be 50 years old, Sino-Congolese cooperation and friendship are going “wonderfully,” he said. On the bilateral trade front, the Chinese diplomat said that in 2020, the two countries achieved 19 billion USD with a surplus of 5 billion in favor of the DRC. Compared to 2015, Chinese investments have achieved growth for 6 years. Sino-Congolese cooperation…

The Gigalab laboratory, one of the leaders in the distribution of equipment and reagents for medical biology in Morocco, launched on Thursday, June 3, the first production unit of Covid-19 Made in Morocco tests. Created in 2007 by Karim Zaher, an immunologist, a pure product of Moroccan education, Gigalab, in harmony with the orientations of His Majesty King Mohamed VI, aiming to develop innovations and productions allowing Morocco to guarantee its health security, in early 2021, transferred technology to the Korean company PCL Inc., a world leader in the production of tests. Indeed, this technology transfer and the approval of…

Mohamed Ahmed Salem Bouna Moktar, Deputy Director General and member of the board of directors of Banque El Amana (BEA), was elected head of the Federation of Financial Institutions (FIF), one of the eleven federations of the National Union of Mauritanian Employers (UNPM). He succeeds Moulaye Ould Abass, CEO of the Mauritanian Bank of International Trade. The election took place between the second generation of Mauritanian bankers. The winner is in fact the son of Ahmed Salem Bouna Moktar, the businessman who bought the Banque de l’Habitat, a mixed capital institution, then renamed Banque El Amana, of which he now…

After Fez and Rabat, the Banque Populaire is continuing its roadshow “The Regionals of Investment”, with a rich meeting organized in Agadir. This was marked by the signing of 3 partnership agreements aimed at encouraging entrepreneurial initiatives in the Region and support for the productive sectors. In his introductory remarks, President Mohamed Karim Mounir emphasized the potentialities and development projects that abound in the region. He also expressed his confidence in the economic dynamics instilled in the different regions of Morocco: “With what we experience every day on the ground, we are very optimistic about an imminent economic recovery”. Several…

The French multinational of hydrocarbons wants to develop its fuel distribution infrastructure. At the end of an interview this Wednesday, June 2, with the Guinean Prime Minister, Kassory Fofana, the Africa Marketing and Services Director of the Total Group, Stanislas Mittelman announced that his group plans to upgrade the Total service stations and to open new ones to boost its offer. Beyond stimulating investments, the possibility of developing oil exploration and production projects was also discussed. The Guinean Head of Government encouraged Total to develop projects in this direction, which of course would allow Guinea to speed up exploration of…