Author: Albert Savana

The State of Togo, through its General Directorate of the Treasury and Public Accounts, raised on April 30, 2020 on the financial market of the West African Monetary Union (UMOA) an amount of 22 billion FCFA (33 million euros) at the end of its 5-year Treasury stimulus bond issue (ORD), organized in partnership with the UMOA-Titres agency based in Dakar. initiated 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 legal entities in order to ensure the financing…

The mobile operator Nexttel, a subsidiary of the Vietnamese group Viettel, has a new managing director Benoît Yaoussou, following a decision by the board of directors. A former consultant within this company, he takes over the management of a company whose social climate has been disrupted in recent months because of the repetitive strikes initiated by the National Autonomous Union of Workers in New Information and Communication Technologies. (Syntic). The act of appointment signed by Baba Danpullo, Chairman of the Board of Directors of Viettel specifies that “Mr. Yaoussou Benoît, whose post is based in Douala, will carry out his…

Mali currently has gold reserves estimated at around 703 tonnes, according to the Ministry of Mines. The country’s industrial production reached 65.2 tonnes in 2020, according to data collected from mining companies. The estimate of 703 tonnes can thus allow all companies in the country to together produce 65 tonnes of gold per year until at least 2031, even if no new gold discoveries are observed. However, the country’s gold potential remains significant, as evidenced by the results of exploration work carried out at Diba (Altus) or Dandoko (Oklo). As a reminder, Mali claims third place among producers on the…

The turnover of the Sonatel group (National Telecommunications Company) of Senegal, which includes subsidiaries in Mali, Guinea, Guinea-Bissau and Sierra Leone, increased by 9.9% in the first quarter of 2021 compared to the same period of 2020, announced the leaders of this Dakar-based telecommunications company. This turnover increased from 274.10 billion FCFA in the first quarter of 2020 to 314.20 billion FCFA during the period under review, an increase of 28.4 billion FCFA in absolute value. According to Sonatel officials, “this good growth is mainly driven by Retail (data, orange money and fixed line services) in all countries and mainly…

At the Berkshire Hathaway fund’s general meeting held on Saturday, May 1, attention was no more focused on the first quarter results of this famous structure, marked by a profit of 11.7 billion dollars albeit with performance. less than those of the S&P 500, that its founder, appeared in videoconference with his collaborators. At 90, Warren Buffet remains the most popular investor in the stock market thanks to his wise advice. For this vintage, his word has focused on fashionable instruments. Mute on the Bitcoin on which he was arrested, the oracle of Omaha was harsh on Robinhood, these platforms…

The Prime Minister of the Democratic Republic of Congo (DRC), Jean-Michel Sama Lukonde, promised the delegation of the Générale des Carrières et des Mines which he received on Thursday April 29 in Kinshasa to “do everything so that Gécamines is developing and prospering ”. A company of which the head of government was himself the managing director. He “reassured us by saying that Gécamines being a state enterprise, it is the backbone of the economy of this country. He will do everything to ensure that Gécamines develops, prospers and contributes to providing solutions to the challenges that will arise, “Albert…

After a loss of 3.517 billion FCFA (5.276 million euros), Nestlé Côte d’Ivoire, a subsidiary of the Swiss Nestlé group and specializing in the manufacture of food products, made a real comeback at the end of the 2020 financial year by realizing an after-tax profit of 20.899 billion FCFA (31.349 million euros), announced the leaders of this company based in Abidjan. Turnover rose from 156.103 billion FCFA as of December 31, 2019 to 175.021 billion FCFA in 2020, an increase of 12.11%. Nestlé Côte d’Ivoire’s charges were slightly reduced by 0.98% to 123.259 billion FCFA against 124.480 billion FCFA a…

Following the closing of the accounts for the 2020 financial year of the pan-African banking group Oragroup during its Board of Directors, Oragroup is starting 2021 under good auspices. The banking group announces in the first quarter of 2021, an increase in net income of 314%, or 2,664 billion CFA francs in view of a moderate economic recovery in sub-Saharan Africa. In fact, deposits from customers of the entire Orabank network, which amounted to 2,261 billion CFA francs, justify an increase of 25%. As are net customer loans which show an increase of 10% to reach 1675 billion CFA francs.…

A new era is opening for the Inter-African Conference on Insurance Markets (CIMA) with the entry into office of the new secretary general of this institution. Appointed in December 2020 as the head of the insurance sector regulator in West and Central Africa, Cameroonian Blaise Ezo’o Engolo officially took office at the end of April 2021 at the institution’s headquarters in Libreville, Gabon. While it is true that this is a change in continuity as noted by Nicole Jeanine Lydie Roboty Mbou, Gabonese Minister of the Economy in the presence of Calixte Nganongo, Congolese Minister of Finance and Budget, representing…

ABIDJAN, Côte d’Ivoire, 29th April 2021 – Adenia, a private markets investment firm in Africa, today announced that it has finalized the sale of its 100% equity stake in Ademat to SPE Capital, a private equity firm focused on Africa and the Middle East. Founded in Abidjan in 1983, Ademat is the leading provider of power security solutions in Côte d’Ivoire. It provides a wide range of technical solutions for companies in various industries, including telecommunications, financial services, manufacturing, healthcare and hospitality. Since acquiring Ademat in September 2016 through its Adenia Capital (III) fund, Adenia has implemented a series of strategic value…

The State of Burkina Faso, through its General Directorate of the Treasury and Public Accounts, raised on April 28, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 66 billion FCFA (99 million euros) at the end of its issuance of 3 and 5-year Treasury stimulus bonds (ORD) 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 and legal persons with a…

The international partners of the Democratic Republic of Congo (DRC) have, in a joint statement released Tuesday, April 27 in Kinshasa, assured of their support the government of Prime Minister Jean-Michel Sama Lukonde, invested Monday by the National Assembly. “As international partners, we assure the new government of our support for the implementation of reforms reflecting the will of the Congolese people and the improvement of the socio-economic situation to which it aspires”, declared Germany, Belgium, Canada, South Korea, Spain, United States, France, Greece, Italy, Japan, Norway, Netherlands, Portugal, United Kingdom, Sweden, Switzerland, the Czech Republic and the European Union.…

For the four knights of American tech, the social distancing born of the coronavirus pandemic is rather a godsend. The apple brand led by Tim Cook surpassed $ 100 billion (exactly $ 111.4 billion) in quarterly earnings for the first time. By the way, Apple, which has seen its sales soar by 26%, is doubling Samsung for the very first time, too, driven by sales of the iPhone 12, which is compatible with 5G. The American giant has sold 82 million smartphones against 62 million units for its Korean competitor. Likewise, Amazon has for its part exceeded 100 billion in…

French Minister of the Economy, Finance and Recovery, Bruno Le Maire is in Abidjan from Thursday April 29 to Friday April 30 to take stock of economic cooperation between Côte d’Ivoire and France. On the menu for this visit, “the minister will discuss with the President of the Republic of Côte d’Ivoire, Alassane Ouattara and meet with Patrick Achi, Ivorian Prime Minister. They will discuss bilateral economic cooperation as well as the Summit on the financing of African economies to be held in Paris on May 18, ”informs French diplomacy. In addition, the Abidjan Metro project, funded by France and…

Bénin Terminal signed a partnership agreement in Cotonou on 1 April 2021 with the Beninese start-up Green Keeper Africa. The aim is to roll out GKSORB, the first industrial absorbent produced in Africa using hyacinth water, at its facilities at the Port of Cotonou. A specialist in innovative and natural pollution-control solutions, Green Keeper Africa has committed to supplying Bénin Terminal over the next two years with 100% organic absorbents to effectively control and manage accidental liquid leaks at the container terminal. As part of the partnership, Green Keeper Africa will train Bénin Terminal employees on eco-responsible practices. The start-up…

Following the protest of exporters grouped within the Ivorian traders group (GNI), to denounce the hand of multinationals on the purchase of almost all cocoa beans, the government, through the Coffee and Cocoa Council (CCC ) would like 20% of these giants to go to local exporters. A decision previously trampled despite the texts that govern the sector. If the measure is applied, nearly 450,000 tonnes of cocoa beans will now be allocated to local exporters, which will allow them to cope with their cash flow hard hit by Covid-19 and its effects. Speaking to Reuters, a source working at…

The African Development Bank (AfDB) will support Mali in the creation of agropoles or Special Agro-Food Processing Zones (ZSTA) in the large production basins of the Ségou and San regions (conflict zones) and Koulikoro and Sikasso ( areas of insecurity) to better enhance its past investments, and create more added value, decent and sustainable jobs for women and young people, according to the Country Strategy Paper (CSP 2021-2025) published on April 19 2021. In a press release published on April 27, the institution predicted that Mali should thus experience an increase in the number of SMEs and SMIs created in…

Ivanhoe Mines Energy announced on Monday April 26 that it had signed a memorandum of understanding with the National Electricity Company (SNEL) for the modernization of turbine 5 of the Inga II hydroelectric dam in Kongo Central province ( north-west of DR Congo), as part of the renovation of the Mwadingusha hydroelectric plant to supply its future Kamoa-Kakula copper mine. “This public-private partnership will allow the mining company to obtain the 162 MW of power produced by Inga II to power the Kamoa-Kakula copper complex and its associated processing plant, both currently under construction. This new power supply agreement is…

West Africa Rating Agency (WARA) affirmed, on April 20, 2021, at the end of its second semi-annual review, the long-term rating in regional currency “tAAA” of the “senior” bonds of the FCTC of NSIA BANQUE 7% 2020-2025, with an initial amount of CFAF 40 billion. These bonds have a maturity of 5 years. For reference, this rating of “tAAA” is the maximum rating allowed by the regional rating scale. The outlook remains stable. At the same time, WARA also affirmed the Credit Rating rating of “ec.A / Stable / w-3” to NSIA Banque Côte d’Ivoire, the Assignor of the securitization…

The Military Council for the Transition (CMT), the self-proclaimed governing body in Chad following the death of President Idriss Deby Itno, has appointed Albert Pahimi Padacké, 54, as prime minister. The latter is already responsible for forming a government whose action will be supervised by the future National Transitional Council (CNT) which acts as Parliament....

The after-tax profit of Société Ivoirienne de Banque (SIB), a subsidiary of the Moroccan banking group Attijariwafa Bank, recorded at the end of the 2020 financial year an increase of 8% compared to the 2019 financial year, announced the managers of this establishment. bank based in Abidjan. It must be said that this increase is far lower compared to the previous year where it stood at 21%. The profit for the year under review stood at 30.261 billion FCFA against 28.057 billion FCFA on December 31. 2019, i.e. an increase of CFAF 2.204 billion against CFAF 4.857 billion in 2019.…

The State of Senegal, through its General Directorate of Public Accounts and the Treasury raised on April 23, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 55 billion FCFA (82.500 million euros) at the end of its issuance of 5-year and 10-year Treasury stimulus bonds (ORD), 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 and legal persons with a view…

The net banking income (NBI) of Attijari Bank of Tunisia recorded a slight increase of 3.31% at the end of the first quarter of 2021 compared to the same period of the year 2020, announced the leaders of this banking establishment based. in Tunis. This GNP stood at 129.915 million dinars against 125.753 million dinars as of March 31, 2020, an increase of 4.162 million dinars. As far as they are concerned, banking operating income fell by 5.78% with a level which fell from 215.269 million dinars in the first quarter of 2020 to 202.836 million dinars during the period…

After receiving the necessary regulatory approvals, First Abu Dhabi Bank (FAB), led by its CEO, Hana Al Rostamani, announced that it had initiated the process of transferring shares for 100% of the share capital of Bank Audi sae ( Egypt), a subsidiary of Bank Audi based in Lebanon. Once the share transfer is complete, FAB...

French Total and Chinese CNOOC signed a series of agreements in early April for the construction of the Uganda-Tanzania pipeline. The $ 3.5 billion (3 billion euros) project led by Total and CNOOC provides for the management of oil fields in the Lake Albert region in western Uganda and proposes to transport the crude to...

(1 USD = 3,607 Ugandan Shilling). The Uganda Revenue Authority (URA) has initiated digital revenue stamps (SDRs) on cement and sugar. Kampala thus follows a trend followed by Kenya, Rwanda and Tunisia which have all adopted digital tax stamps to increase their tax revenues. Data from Uganda shows that as of March 2021, the URA...

(1 dollar = 382 Sudanese pounds). A candidate for the Heavily Indebted Poor Countries (HIPC) Debt Relief Initiative in June, Sudan hopes to clear $ 50 billion in debt. Many donors have already given their agreements. Thus, France says it is ready to grant a bridging loan of up to $ 1.5 billion to clear...

(1 dollar = 42.78 Birr). The National Bank of Ethiopia (NBE) now requires new banks to have capital of Birr 5 billion ($ 116 million) to be released after a transition period of five to seven years. One way to curb the rush to this relay country for the Asian textile industry? Currently, 20 banks...

The Senegalese President, Macky Sall, presented this April 22 in Diamniado (30 km north of Dakar), his employment plan of 450 billion FCFA (827 million dollars) in three years. This program, the beginnings of which had been unveiled during the speech of April 3, on the eve of Independence Day, gives substance to decree 2021-172 of January 27, 2021 establishing and setting the operating rules of the National Council for the ‘Integration and Youth Employment. “These resources will be used to finance the Emergency Program for the employment and socio-economic integration of young people, XËYU NDAW ÑI, which will result…

In Mali, cotton farmers can drink “whey”. Since their production will be entirely purchased and at the price agreed with the Malian Textile Development Company (CMDT). The cotton giant has maneuvered well to obtain the necessary amounts on time to finance the 2020-2021 campaign. It is true that the production of this ending season was starved in the face of forecasts (147,200 tonnes out of 810,000 forecast). But the main thing for everyone involved is to sell the production and prepare the new campaign under the right conditions. In doing so, Mali would easily regain its place as the number…