Author: Albert Savana

The State of Burkina Faso, through its General Directorate of the Treasury and Public Accounts, raised on May 26, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 87.931 billion FCFA (131.896 million euros) at the end of its issuance of Treasury stimulus bonds (ORD) with maturities of 3, 7 and 10 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 natural…

It was eagerly awaited. Handed over to King Mohammed VI on May 25, the general report of the Special Commission on the Development Model (CSMD) is a new stage in the economic and social development of Morocco, in search of more inclusiveness. The report presented by Chakib Benmoussa at the Royal Palace in Fez was commissioned by the King in December 2019. The document was drawn up after extensive consultations involving political parties, economic operators, academics, unions, civil society, public administration and specialized international organizations. In addition, there is a digital platform (CSMD.ma) allowing any Moroccan citizen to enter the…

Standard Chartered Bank Kenya announced on Monday, May 24, that it posted net income up 18.9 percent to 2.39 billion shillings (22 million USD) for the fiscal year ended March 2021. This is thanks to the growth in non-interest income and lower operating expenses. “Our performance in the first quarter was supported by positive business momentum which led to improved transaction volumes, particularly in wealth management, low credit impairment charges and operating cost efficiency. Said Kariuki Ngari, CEO of StanChart Kenya. As for net interest income, it fell 2.8 percent to 4.59 billion shillings (US $ 43 million), while the…

The consolidated profit of the company Oragroup SA, parent company of the Orabank banking group, plunged by 8.887 billion FCFA (13.330 million euros) at the end of the 2020 financial year compared to that of 2019, announced the managers of this company based in Lomé. This profit thus fell from 18.327 billion FCFA in 2019...

Jeddah, Kingdom of Saudi Arabia, May 25, 2021 – The President of the Islamic Development Bank (IDB), Dr Bandar Hajjar and the CEO of the Arab Bank for Economic Development in Africa (BADEA), Dr Sidi Ould TAH , signed a historic agreement to stimulate co-financing of development projects in common member countries in Africa. Over the past ten years, IDB and BADEA have co-financed more than a dozen projects in Côte d’Ivoire, Guinea, Gambia, Sierra Leone, Mali, Senegal, Chad, Niger, Togo and Mozambique. These co-financing operations covered sectors such as education, water, sanitation, urban development, agriculture, transport, energy, health and…

On May 25, 1963 in Addis Ababa (Ethiopia), the founding fathers divided into two blocs (the Casablanca group and the Monrovia group) on the need to immediately create where gradually the United States of Africa resolved to progressive place of the project by favoring decolonization and the fight against Apartheid in South Africa. In 1999 in Sirte (Libya), Colonel Gaddafi resuscitated the idea of ​​the Ghanaian Nkrumah after evaluating the success of the Organization of African Unity (OAU) in achieving its main objective focused on the decolonization of the continent and the eradication apartheid. The Libyan leader proposed to his…

In Mali, the Vice-President of the Transition, Colonel Assimi Goïta, indicated that he saw himself in the obligation to act to preserve the Transition Charter and that, by withdrawing the prerogatives of President Bah N’Daw and its Prime Minister Moctar Ouane, as well as all the people involved in the situation following the “violation” of this charter. In a statement released this Tuesday, May 25 on the ORTM, the state channel, the head of the junta indeed indicates that the government led by Moctar Ouane has shown itself incapable of constituting a reliable interlocutor, likely to mobilize confidence. social partners,…

Since May 20, 2021, the TEYLIOM Properties group has launched its Common Credit Securitization Fund (FCTC) by public offering on the financial market of the West African Monetary Union (UMOA) called “FCTC TEYLIOM IMMO 7% 2021-2028 ”for an amount of 20 billion FCFA (30 million euros). The subscription period which runs until June 18, 2021 falls within the framework of the search for innovative financial mechanisms allowing this group to refinance its portfolio of receivables in order to optimize its intervention capacity, in a context marked by the increased demand for credit. Thus, in the eyes of the managers of…

From our permanent corespondent in Bamako. In Mali, several states and international organizations have condemned the coup that took place in the afternoon of May 24, 2021. These include the UN mission in Mali (Minusma), the Community of Western States. -africans (ECOWAS), the African Union, France, the United States, the United Kingdom, Germany and the European Union. In this article, Financial Afrik sheds light on the identity of the coup plotters and the motivations behind their coup. In a joint statement, the Heads of State of the Economic Community of West African States (ECOWAS) and the African Union (AU) strongly…

In Mali, the president of the Transition, his prime minister and their new defense minister were arrested hours after the proclamation of a new government on Monday 24 May. A look back at the latest events, the identity of the putschists, the reasons for a new coup less than a year after that of August 2020, and the reactions of the political class and the international community. In the aftermath of the arrest of President Bah N’Daw and Prime Minister Moctar Ouane by the military, Bamako woke up on Tuesday in uncertainty over the fate of the Transition. The night…

Considered an official national holiday in Ghana, Gambia, Guinea, Namibia, Zambia, Mali, Mauritania, Lesotho and Zimbabwe, Africa Day is also celebrated at the UBA group. Whose president Tony Elumelu is organizing a high-level panel, this Tuesday, May 25, by video conference with the president of Rwanda Paul Kagamé, the director general of the World Trade Organization, the Nigerian Ngozi Okonjo-Iweala, the director as guest General of the World Health Organization, the Ethiopian Tedros Adhanom Ghebreyesus and the Senegalese Makhtar Diop, director general of the International Finance Corporation (IFC). “We mark this day by highlighting our diversity and the collaborations that…

The Ministry of Petroleum, Energy and Mines is shortlisting 5 candidates to carry out a strategic environmental and social assessment of the hydrocarbon sector in Mauritania (EESS). Thus, the consortium The Ciera Group (Canada); Strategia Worldwide led by Sir Richard Shirref, retired British general who held senior positions in NATO, and Nouakchottois Meen & Meen – a pioneer in the field of hydrocarbon consulting in Mauritania – will compete with Portuguese Nemus; the British Xodus and RSK Environment Limited as well as the Malian ID Sahel, which intends to follow in the footsteps of its compatriot Kanaga Consulting, who won…

After officially ending more than two decades of state monopoly and opening up the telecoms sector to competition on June 10, 2019, Ethiopia on Saturday awarded a license for the deployment of 4G and 5G internet. to a British-Kenyan consortium. They are the Kenyan Safricom and the South African Vodacom, a subsidiary of the British giant Vodafone for a license worth 850 million dollars with an investment of 8.5 billion dollars over the next ten years. This very first license was awarded at the expense of the consortium led by the South African giant MTN, supported by the Chinese giant…

“The Ivory Coast lost 80% of its forest cover from 1900 to 2015; and at the rate of this deforestation, the country could lose all of its forests by 2034 if nothing is done ”, indicates a report of the United Nations Development Program (PND) presented in Abidjan, Wednesday 19 May, after its launch in Oslo (Norway) on the theme “Human development and the anthropocene: the next frontier”. During this presentation, the UNDP Resident Representative in Côte d’Ivoire, Carol Flore-Smereczniak, noted the inequalities in human development despite the economic performance recorded at the global or national level. Before pointing the…

The State of Senegal will proceed on May 25, 2021 with the payment of half-yearly interest and the partial repayment of the capital of its bond loan called the State of Senegal 6.30% 2015-2025 for an amount of 3.653 billion FCFA (5.479 million euros ). Interest amounts to 875 million FCFA and the capital to 2.778 billion FCFA. In order to partially finance its budget deficit for the year 2015 estimated at CFAF 396.2 billion, the State of Senegal had successfully launched, from October 30 to November 20, 2015, a bond loan by public appeal to the savings on the…

Kizzmekia “Kizzy” Shanta Corbett is an African American viral immunologist working in the Vaccine Research Center of the National Institute of Allergy and Infectious Diseases, National Institutes of Health located in Bethesda, Maryland, United States. Zoom on one of the key pieces of the fight against Covid-19. Corbett has been revealed since the outbreak of the pandemic as the scientific expert at the forefront of the global race to manufacture the SARS-CoV-2 vaccine, and as one of the scientists whose name will be inscribed in the pantheon of history of humanity as one of the key players in the development…

The after-tax profit of the company Bernabé Côte d’Ivoire, a subsidiary of the multinational of the same name and specializing in the marketing of hardware products, recorded an increase of 57.91% at the end of the 2020 financial year compared to that of 2019. This profit stood at 668 million FCFA against 423 million FCFA in 2019, an increase of 245 million FCFA in absolute value. The turnover also recorded a decrease from 1.814 billion FCFA to 39.472 billion FCFA against 41.285 billion FCFA in 2019. In terms of expenses, the item Purchases of goods fell by 3.759 billion FCFA…

Anger and exasperation. About 100 carriers and shipping companies signed a petition on May 18 calling on the international community to urgently address the problem of piracy in the Gulf of Guinea. This area now concentrates almost all cases of piracy and violence. In 2020, 130 crew kidnappings for ransom demand out of the 135...

In Côte d’Ivoire, 715,759 megawatt-hours (Mwh) of energy are wasted per year in households, or $ 103 million and 813,691 Mwh ​​in shops and services equivalent to $ 104 million, according to Emmanuel Yéo, the CEO of the Lynas company specializing in the intelligent management of energy movements and energy saving. Which, he says, gives a total of 1,529,450 Mwh / year, or a loss of 207 million dollars per year, more than enough to fill the current energy deficit in the country. The official was speaking this Thursday, May 20, in Abidjan, on the occasion of “the leaders’ speech”,…

At the end of its annual review, the international financial rating agency Fitch Ratings has just notified the West African Development Bank (BOAD) of the renewal of its “Investment Grade” “BBB” rating with a negative outlook. , announces the agency. (See the original report) The negative outlook reflects the risk of weakening shareholder support for...

The State of Mali, through the National Directorate of the Treasury and Public Accounts, raised on May 19, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 65 billion FCFA (97.500 million euros) at the end of its simultaneous issuance of Treasury stimulus bond (ORD) with maturities of 3, 5 and 10 years. This issue is the third of its kind after the 87.798 billion FCFA and the 44 billion FCFA raised respectively on February 24 and March 31, 2021. ODR issues are initiated by the UMOA-Titres agency in collaboration with the Central Bank…

Reappointed to the post of Minister of Justice in the new government of Prime Minister Collinet Makosso published by decree on May 15, Aimé Bininga intends to carry out a vast project of reforms of the judicial system and state bodies through the digitization of the justice, the reform of criminal and civil procedures, the meaning and effectiveness of penalties and the territorial organization of jurisdictions. From the independence of the judiciary to the reform of the prosecutor’s office to the conditions of detention of prisoners, through juvenile justice and the improvement of the working conditions of magistrates, the projects…

The 2020 financial year of NSIA Banque Côte d´Ivoire, a member of the financial group of the same name, was not prosperous in terms of profitability with an after-tax profit which fell by 47.11% compared to the 2019 financial year. According to the summary financial statements for this fiscal year, verified but not yet certified by the auditors, this profit stood at 7.11 billion FCFA against 13.617 billion FCFA in 2019, a decrease of 6.416 billion FCFA. According to the managers of this banking establishment, this result came “in a context combining management of the impact of COVID-19 on activity,…

The Group’s strong performance was driven by EFG Hermes’ robust results at its NBFI platform and Investment Bank (Cairo, Egypt) — EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), reported today its first quarter results for 2021, with revenues climbing a solid 30% Y-o-Y to EGP 1.3 billion on the back...

Consumer prices in Togo recorded an increase of 2.7% at the end of April 2021 compared to the previous month, according to data established by the National Institute of Statistics and Economic and Demographic Studies (INSEED) based in Lomé. The National Harmonized Consumer Price Index (INHPC) thus stood at 109.7 against 106.8 in March 2021. “This change is mainly due to the increase in the indices of the Food and Beverage functions. alcoholic beverages (+ 7.7%), Housing, water, gas, electricity and other fuels (+ 0.5%), Health (+ 0.6%), Restaurants and Hotels (+ 0.1%) and Goods and various services (+ 0.2%)…

The Central African Forests Initiative (CAFI) is making 45 million euros available to support the Republic of the Congo in its strategies for land use planning and preservation of natural resources, as part of the finalization of the instruction of a sustainable land use program in the country. This is to accompany and support the various milestones of the memorandum of intent that Congo President Denis Sassou N’Guesso signed with French President Emmanuel Macron in October 2019, according to the director of the French Development Agency (AFD) in Congo, Lionel Cafferini, who made the announcement to Arlette Soudan-Nonault, Congolese Minister…

The General Delegation for the Rapid Entrepreneurship of Women and Youth (DER / FJ) structured 19 billion FCFA ($ 37 million) for the cashew nut campaign. In this amount, an envelope of 15 billion FCFA is devoted to the campaign itself and 4 billion FCFA to production. The announcement was made on May 18, 2021 from the Ziguinchor region, in southern Senegal, by the Minister Delegate General of the DER / FJ Papa Amadou Sarr, during a regional development committee (CRD) dedicated to the launch of the 2021 cashew nut marketing campaign. Chaired by the Minister of Trade and SMEs,…

The State of Côte d’Ivoire, through its General Directorate of the Treasury and Public Accounts, raised on May 18, 2021 an amount of 59.500 billion FCFA (89.250 million euros) on the financial market of the Union West African monetary (UMOA) at the end of its issuance by auction of assimilable treasury bonds (BAT) with maturity of 364 and 182 days. This fundraising is intended to cover the financing needs of the budget of the State of Côte d’Ivoire. For the second quarter of 2021, intentions to issue public securities amount to 530 billion FCFA against 480 billion FCFA for the…

Present in Paris, on May 17, as part of the international conference for Sudan, the transition authorities in place in Khartoum since the fall of Omar Hassan Ahmed al-Bashir in April 2019, have had no words strong enough to greet this event. This allows the country to reintegrate the international community after chaotic decades punctuated...

After a record loss of 21.857 billion FCFA in 2019, Unilever Côte d’Ivoire SA, a subsidiary of Unilever Overseas Holdings Limited and specialized in the production and marketing of consumer products (toothpaste, soap, Lipton tea, mayonnaise) strongly mitigated this loss by achieving a net deficit of 3.690 billion FCFA at the end of the 2020 financial year. The financial situation of Unilever Côte d’Ivoire was bleak. Its equity showed cumulative losses over several years with a loss carryforward of CFAF 32.599 billion and negative equity of CFAF 21.964 billion under the last approved accounts. This situation had also prompted the…