Author: Albert Savana

The inflation rate of the West African Economic and Monetary Union (UEMOA) countries increased by 0.5 percentage point, year-on-year, at the end of October 2020 compared to the previous month, according to data from the Central Bank of West African States (BCEAO). This inflation rate stood at 3.4% during the period under review, after rising to 2.9% a month earlier. This situation contrasts with that of September 2020 with a slight drop of 0.4 percentage point in the inflation rate. According to the issuing body, the acceleration in the rate of price growth in the UEMOA zone is mainly driven…

The gold cash of the Central Bank of Tunisia (BCT) increased by 89.241 million dinars (27.043 million euros) on November 30, 2020 compared to the same period of the year 2019, according to data from this issuing institution based in Tunis. This gold bank thus rose from 555.843 million dinars on November 30, 2019 to 645.085 million dinars a year later, i.e. an increase of 16.05% in annual variation. However, compared to its level on October 31, 2020 with an achievement of 693.540 million dinars, the BCT’s gold cash flow contracted by 48.455 million dinars. As for foreign currency assets,…

By leveraging technological innovation and Big data, Africa’s economy has remained resilient in the face of the Covid-19 pandemic, while driving an inclusive economy for its citizens. To ensure sustainability of the continent’s initiatives, digital monitoring, tax transparency, and innovative funds for development, have become pivotal. Daryl Bhana, VP of Commercial Sales and Strategy at Global Voice Group, details how the use of Big data analytics mitigates governments revenue losses and contributes to the continent’s resilience.  How would you assess the impact of the Covid-19 pandemic on African economies? As a result of the global Covid-19 pandemic, Africa will go…

The State of Côte d’Ivoire via its public treasury will proceed on December 28, 2020 to the payment of the half-yearly margin and the last repayment of the capital of its Islamic loan called Sukuk State of Côte d’Ivoire 5.75% 2015-2020 for a global amount net of tax of CFAF 15.438 billion (€ 23.157 million). The Ivorian government authorities had raised, during the period from November 20 to December 21, 2015, on the financial market of the West African Monetary Union (UMOA) by public offering an amount of CFAF 150 billion backed by assets. compatible with the principles of Islamic…

Arrived in Abidjan by private flight on December 13, accompanied by his son, Jean, and the son from the union between Carla Bruni and the philosopher Raphaël Enthoven, Nicolas Sarkozy is much more than a guest among others came to attend the investiture of Alassane Ouattara, scheduled for the next day. For the Ivorian head of state, he acts as a real guarantee after a candidacy and a presidential election contested by the Ivorian opposition, which have also raised skepticism from France. During his meeting with his counterpart at the beginning of September in Paris, Emmanuel Macron reiterated the wish…

Pending the handover between Donald Trump and Joe Biden, Republican and Democratic parliamentarians will present to the Senate a $ 908 billion stimulus plan on Monday. A part of the plan worth $ 748 billion will focus on helping small businesses and the unemployed as well as funding the distribution of COVID-19 vaccines, the source said. The other aspect will concern in particular the points of contention between Republicans and Democrats: the protection of companies and funds for communities and local administrations. Congress has already voted $ 3 trillion in aid this year to offset the economic impact of the…

The Covid-19 vaccine will be administered to Americans before the end of 2020. Donald Trump said so last spring, sparking sarcasm from most analysts. Finally, time proved him right. Pfizer-BioNTech’s first vaccine was administered on Saturday, 24 hours after its approval by the US Medicines Agency (FDA) and just three weeks after filing. A gigantic logistics operation was immediately launched to distribute the vaccine to the four corners of the country. Right now, three million doses will be shipped by Pfizer directly to hospitals, pharmacies and designated sites in individual states and some major cities. The federal government has decided…

The Tony Elumelu Foundation (TEF) announced this Friday, December 11, a collaboration with the European Union (EU) to identify, train, mentor and finance 2,500 African entrepreneurs. This partnership will allow the European institution to provide significant support of 20 million euros to women-owned businesses in 54 African countries. “We are delighted to partner with the European Union, sharing our unique ability to identify, train, mentor and finance young entrepreneurs across Africa. This joint effort will prioritize and provide economic opportunities to African women, who for too long have faced systemic barriers to start, grow and maintain their businesses, ”said Tony…

After successive increases recorded since May 2020, the business climate indicator in the countries of the West African Economic and Monetary Union (UEMOA) was almost stable during the month of October 2020 compared to the previous month , according to data established by the Central Bank of West African States (BCEAO). This indicator stood at 98.5 against 98.4 in September 2020. It is thus close to its long-term average which is 100. This makes the issuing institute say that “overall, business leaders show fewer fears about the evolution of the economic situation ”. However, the services of the BCEAO note…

Airbnb’s IPO has kept its promises on Wall Street. The hosting services giant’s share that went public on Thursday (Dec. 10) ended the session up 144% from the IPO price of $ 68. The starting valuation of 45 billion, or 7 times the turnover of the company, soared to reach 100 billion $ at the close of the markets. Airbnb’s capitalization therefore exceeds that of Booking ($ 86bn), which is much more “big” in this furnished rental market. Those who equated this introduction of a company that is making losses and laying off a quarter of its employees as a…

The bill against Islamist separatism presented this Wednesday before French parliamentarians is sharply criticized by Washington, which associates it with a possible attack on freedom of religion. “I am concerned, of course, about what is going on in France,” US envoy for religious freedom Sam Brownback said in an exchange with reporters. Unlike Anglo-Saxon multicultural societies, France builds its model on assimilation and a secularism which means that religion is strictly a private matter. Hence the astonishment of this American high commissioner against this law that President Macron defends but which meets few followers outside of France. “There can be…

The turnover of Tractafric Motors Côte d’Ivoire (TMC), which specializes in the sale of new motor vehicles, fell by 8.5% at the end of the third quarter of 2020 compared to the same period of 2019. This turnover amounted to 37.009 billion FCFA against 40.463 billion FCFA as of September 30, 2019, a contraction of 3.454 billion FCFA. This situation is the result of less dynamic activity during the period under review. According to TMC executives during the third quarter of 2020, there were 1,466 new vehicles sold against 1,658 in the third quarter of 2019, a decrease of 2%.…

An awareness campaign will be initiated by the Central Bank of West African States (BCEAO) and the International Finance Corporation (IFC), a subsidiary of the World Bank group, to facilitate better knowledge of the services offered by, the Credit Information Office (in English Creditinfo west africa). Designed since 2013 for the 8 countries of the West African Economic and Monetary Union (UEMOA), the International Credit Bureau (BIC) will be explained to consumers to businesses in this monetary zone. For Bceao, taking charge of your finances is the first step towards financial well-being and having a good credit rating, allows you…

Fidelity Bank Plc has launched an operation to raise 75 billion naira ($ 196 million) in local currency to support small and medium enterprises. The issue is through unsecured fixed subordinated bonds and is expected to close on Monday, December 14, 2020. The bank launched the issue as part of its 100 billion naira ($ 261 million) bond issuance program in the local currency to increase its capital ratios and financing capacity. The proceeds from the Series 1 bonds will be used to support the Bank’s small and medium-sized enterprises (SMEs) and retail banking services, as well as its information…

Since the UK cleared the use of Pfizer and BioNTech’s COVID-19 vaccine, the US pharmaceutical giant has taken center stage in the fight against COVID-19. According to data presented by StockApps.com, the market capitalization of the US multinational pharmaceutical company has jumped by more than $ 26 billion since the UK announced the use of its vaccine. Yet, as one of the world’s largest pharmaceutical companies, Pfizer had witnessed a sharp decline in its market capitalization amid the COVID-19 crisis. In December 2019, the combined value of shares of the US pharmaceutical giant was $ 216.8 billion, data from Yahoo…

Investors operating in the financial market of the West African Monetary Union (WAMU) have strongly tendered to the auction issue of 28-day assimilable treasury bills (BAT) called Bons Social Covid-19 with a coverage rate of the amount put up for auction of 563.33%, announced the UMOA-Titres Agency, organizing the operation. While the State of Côte d’Ivoire, through its public treasury, requested only 110 billion FCFA, the Agence UMOA-Titres listed at the end of the auction operation 619.660 billion FCFA in global bids. The largest amounts come from the Ivory Coast (209 billion), Burkina (105 billion) and Mali (105 billion). But,…

Initially set at € 2.5 billion, the “Choose Africa” initiative is scaling up its private sector financing fleet in Africa. Designed by Proparco, a subsidiary of the French Development Agency (AFD), this initiative now brings its participation in the recovery of VSEs and SMEs strongly impacted by the Covid 19 crisis to € 3.5 billion. “Now increased to 3.5 billion euros, this program also contributes to the collective effort of public development banks towards African SMEs announced at the Common Finance Summit for all those who do Africa the leading continent for entrepreneurship and innovation ”, underlined, AFD Director General…

The West African Development Bank (BOAD), will proceed on December 26, 2020 to the payment of annual interest and the partial repayment of its bond loan called BOAD 5.95% 2014-2021 for a total amount net of tax of 25.046 billion FCFA (37.569 million euros). By decision N ° 042/2013 / CA / BOAD, the board of directors of BOAD had authorized a bond issue by public offering on the financial market of the West African Monetary Union (UMOA) for an initial amount of 40 billion FCFA. The bond price was set at 10,000 FCFA with an annual interest of 5.95%…

Tunisia’s food balance deficit declined sharply by 50.9% during the first nine months of 2020 compared to its level in the same period of 2019, according to data from the Central Bank of Tunisia ( BCT). This deficit stood at 546.400 million dinars against 1.114 billion dinars during the first nine months of 2019, a contraction of 568.100 million dinars. The issuing body explains this development mainly by the resumption of exports (+ 16.2% against -14.3%), in particular those of olive oil (78.3%) against a drop in imports. (-1.3% against + 9.6% a year earlier). “Thus, underlines the BCT, the…

The rate of return on deposits from customers of West African Economic and Monetary Union (UEMOA) banks fell by 0.3 percentage point in October 2020 compared to the previous month, according to the survey on the banking conditions carried out by the Central Bank of West African States (BCEAO). This rate of remuneration thus stood at 4.9% during the period under review compared to 5.2% in September 2020. The results of the survey on banking conditions also reveal a stability in lending interest rates during the month of October 2020. Excluding charges and taxes, the average lending rate calculated at…

The State of Benin, through its General Directorate of Treasury and Public Accounts, raised on December 2, 2020 on the financial market of the West African Monetary Union (UMOA) an amount of 133 billion FCFA (199.500 million d ‘euros) at the end of its auction issuance of 28-day assimilable treasury bonds (BAT) called Covid-19 Social Bonds. This fundraising aims to allow the Beninese authorities to mobilize the savings of natural and legal persons in order to cover the cash flow gaps created by the fight against the pandemic caused by COVID-19 and its consequences. Investors tendered strongly with a total…

 A Framework Agreement was signed on December 1st in Cairo between the African Export-Import Bank (Afreximbank), the pan-African multilateral EXIM bank, and the African Energy Investment Corporation (AEICorp), an affiliated entity of the African Petroleum Producers’ Organization (APPO) that was established to support the development of Africa’s hydrocarbon and energy sectors. The Agreement was signed by Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank and Mr. Zakaria Dosso, Managing Director of AEICorp in the presence of H.E Tarek El Molla, Minister of Petroleum and Mineral Resources and H.E Dr. Omar Farouk, Secretary General of the APPO.…

A loan of 15 million euros has been signed between Proparco (a subsidiary of the French Development Agency) and Arab Tunisian Lease (ATL), with the aim of supporting Tunisian SMEs. Tunisia has more than 80,000 SMEs, they represent more than half of jobs and 40% of GNP. They are a real lever for the Tunisian economy for growth, export, investment, employment and innovation. However, they encounter constraints in financing their activity, in particular in the current context aggravated by the covid-19 crisis. “Leasing”, also called leasing, has developed a lot in Tunisia since the 2000s. It offers a financing solution…

Wall Street’s Volatility Index (VIX) has returned to its February level, before the coronavirus disease was declared a global pandemic by the World Trade Organization (WTO). The fear or stress gauge, based on the volatility of the S&P 500 index of 500 top stocks in the United States, briefly fell below the 20-point line last Friday before waltzing earlier this week to stabilize at 22.5 points on Wednesday, December 2. This downward trend in the volatility index coincides, among other things, with the announcement of effective vaccines against Covid-19 by Pfizer-BioNTech and Moderna, but also with the defeat of Donald…

Expired since February 2020 and extended until this month of December, the new Africa-ACP partnership is being negotiated, on December 3, 2020, for an imminent renewal. The framework agreement, on the European side, comes up against a demand for a joint EU-ACP assembly, which is reinforced, beyond its consultative role. Thus, the chairman of the...

Former kLab General Manager will structure and deploy the Digital Africa network across the continent Created to support the development of African digital entrepreneurs, the Digital Africa Initiative has just announced the recruitment of a very recognized entrepreneurial figure, Rwandan Aphrodice Mutangana, as Chief Operations Officer, deputizing the CEO. A Former General Manager of the kLab incubator, which has become a reference in Africa, with experience on several other projects contributing to digital capacity building such as Future Coders or the Refugee School of Coding, Aphrodice Mutangana will be specifically in charge of strengthening Digital Africa’s presence on the continent…

Ivory Coast: NSIA Bank opens a 30.5 million euro financing line for SMEs Ivorian small and medium-sized enterprises (SMEs) can take a sigh of relief with this new contribution from Nsia Banque Côte d´Ivoire. The institution has entered into a partnership with the Ministry for the Promotion of SMEs to open a financing line of 30.5 million euros aimed at boosting their activities. In line with the Phoenix program (financial and technical support mechanism for SMEs), this funding was recorded by the signing of an agreement on December 1, 2020 between the Minister for the Promotion of SMEs, Anoblé Félix,…

Global broking business, Brokerslink, announces the appointment of Twan Hoste as General Manager as it continues to invest in infrastructure, digitalisation and strengthening the range of support and services it provides to its growing network of partners and affiliates. Twan will be responsible for driving Brokerslink’s growth strategy, focusing on bolstering relationships with the network’s independent brokers in 120 countries, investment in operating infrastructure and developing digital solutions to support the network’s partners and affiliates. He will have overall management responsibility of Brokerslink’s senior team and report to the Brokerslink board. Speaking about importance of Brokerslink in today’s global risk…

The Tunisian Ministry of Equipment, Housing and Infrastructure and the Ministry of Local Affairs and the Environment have published a call for expressions of interest to select the municipalities that will benefit from the historic centre regeneration programme (PRCA). To mark the occasion, the European Investment Bank (EIB) and Agence française de développement (AFD) have reaffirmed their commitment to support and assist local authorities working to protect and preserve their historic urban heritage. Between them, AFD and the EIB will provide €12 million (TND 39 million) of financing to the PRCA programme in equal contributions. The objective of the programme…

Bolloré Transports & Logistics Côte d’Ivoire, a subsidiary of the French multinational of the same name, will pay its shareholders on December 18, 2020, for the 2019 financial year, an overall net dividend of FCFA 5.443 billion (8.165 million ‘euros) at term compared to 2018, announced the leaders of this Abidjan-based company. Compared to the 54,435,300 shares that make up the share capital, this corresponds to a net dividend per share of 100 FCFA against 184 FCFA in 2018, i.e. a decrease of 84 FCFA. The dividend that will be paid represents 50% of the nominal value of the share,…