Author: Albert Savana

The net banking income (GNP) of the National Agricultural Bank (BNA) of Tunisia recorded at the end of the 2020 financial year, an increase of 4.5% compared to its level of 2019, announced the leaders of this banking establishment. based in Tunis. This GNP stood at 683.716million dinars as of December 31, 2020 against 654.294million dinars a year earlier, an increase of 29.422 million dinars. Banking operating income reached 1.382 billion dinars during the period under review against 1.325 billion dinars as of December 31, 2019, registering an increase of 4.3%. On these products, interest is predominant, reaching 1.116 billion…

The Islamic Republic of Mauritania has signed the Agreement for the Establishment of the Fund for Export-Development in Africa (FEDA), a development impact-oriented subsidiary of Afreximbank. The agreement was signed on 6th January 2021 by the Minister for Foreign Affairs and International Cooperation, Mr. Ismail Ould Cheikh Ahmed, on behalf of the Islamic Republic of Mauritania. Mauritania becomes the second signatory of the Establishment Agreement after Rwanda signed in November 2020. To complete the FEDA Legal Establishment, two Afreximbank member states are required to sign and ratify the Establishment Agreement. Mauritania’s signature helps move FEDA’s Legal Establishment process forward. The Establishment Agreement…

Guinean-American Mahmoud Bah has been named head of the Millennium Challenge Corporation (MCC). This choice of the new American president should revitalize this institution created in 2004 under George W. Bush, with the mission of reducing poverty in the world. Among other things, MCC provides grants and fixed-term assistance to developing countries. For Mahmoud Bah, this appointment rewards consistency. Former regional team leader for the MCC regional portfolio, he was, for three years, country director of the Millennium Challenge Corporation in Côte d’Ivoire, then acting vice-president of the agency for administration and finance and chief financial officer. Fluent in English,…

US President Joe Biden will impose an entry ban into the country from Saturday on most non-US citizens who recently traveled to South Africa in an attempt to contain the spread of a new variant of the coronavirus, US health officials told Reuters. The new White House tenant will also re-impose on Monday an entry ban on almost all non-American travelers who have visited Brazil, the United Kingdom, Ireland and 26 countries in Europe with borders. remain open, the sources said on condition of anonymity. On January 18, former President Donald Trump ordered the lifting of restrictions on Brazil and…

The Minister of Economy and Finance Alousséni Sanou received in audience on January 22, 2020 the President of the West African Development Bank (BOAD) Serge Ekue visiting Mali. The two personalities discussed the state of cooperation between Mali and the financial institution and the prospects After congratulating his host on his appointment at the head of this regional institution, he invited him to work more for a strong strong involvement of BOAD in socio-economic development in Mali, in particular in favor of the financing of infrastructure and private sector heavily impacted by the Covid-19 pandemic. Accompanied by former Malian Minister…

CDC Group, the UK’s impact investor and development finance institution (DFI) has announced a commitment to invest over US$1 billion again in African businesses in 2021. The commitment will enable CDC to invest in many more promising African entrepreneurs and SMEs, and continue to drive inclusive growth and job creation across the continent, where over half of the institution’s portfolio is now invested. The funds will be invested in financial institutions, infrastructure and climate, services, manufacturing, agriculture, real estate and technology. n 2020, CDC committed over $1 billion into Africa with a focus was the economic recovery from COVID-19. CDC…

The State of Côte d’Ivoire, through its General Directorate of the Treasury and Public Accounts, raised on January 19, 2021 an amount of 33 billion FCFA (49.500 million euros) on the financial market of the Union West African monetary (UMOA) at the end of its issue by auction of assimilable treasury bills (BAT) with a maturity of 182 days. Out of a total auctioned amount of CFAF 30 billion, the Ivorian public treasury ended up with CFAF 69.009 billion in global bids made by investors. This corresponds to a coverage rate of the amount put out to tender of 230.03%.…

Jack Ma appeared in public at a rally held Wednesday, January 20 with teachers in his hometown of Hangzhou. With less teeth than usual, the prodigy said he would devote more time to philanthropy without addressing his supposed dispute with the Chinese state. The Chinese financial market, which has been on the lookout for news of one of its icons for three months, hailed the appearance with a rush on Ali Baba stock, which jumped 11% in Hong Kong. The Chinese billionaire, founder of Ali Baba, had not appeared in public since his criticism of the Chinese banking sector last…

Africa’s largest economy sees inflation hitting 15.75 percent in December, its highest in 33 months, according to figures from the National Bureau of Statistics (NBS). Nigeria, which had closed its borders from August 2019 to December 2020 (the import of rice and certain foodstuffs remaining prohibited) to stimulate its process of food self-sufficiency, is moving further away from the convergence criteria for the adoption of Eco, the single currency of ECOWAS. This Olympic inflation, which results in part from the instability of the national currency, the Naira, supported by massive dips in foreign exchange reserves, is felt heavily in the…

CDC Group, the UK’s development finance institution and impact investor, has announced a USD 100 million debt commitment to the Eastern and Southern African Trade and Development Bank (TDB). The investment strengthens TDB’s capacity to provide additional amounts of credit to businesses in need of short-term financing. CDC’s commitment supports the import, export and production of strategic inputs and agricultural commodity goods in the 22 member states where TDB operates, with a strong focus on those economies with the most challenging investment climates. The facility provides further capital for TDB’s new and existing clients emerging from the economic challenges brought…

After setting carbon reduction objectives on its direct emissions in 2018, Bolloré Logistics is now committing to cutting by 30% by 2030 (relative to 2019) its Scope 3 CO2 emissions generated by the execution of transport services. The ambitious goal, considerably lower than the 2°C trajectory, involves making a sustainable offering central to its operations. “Bolloré Logistics has for several years supported its customers in their growth by providing eco- responsible solutions. Focused initially on key account customers, Bolloré Logistics’ sustainable supply- chain offering is being strengthened across all segments and, at the same time, rolled out widely and industrialised,”…

The African Development Bank today announced the addition of two new countries – Mauritius and Morocco – to its Bloomberg African Bond Indices (ABABI), marking a steady progress in the Bank’s efforts to deepen the continent’s local currency bond market. The African Development Bank administers the ABABI, a family of African bond indices launched in February 2015 and calculated by the independent, global index provider Bloomberg. At the launch, the indices included Egypt, Kenya, Nigeria, and South Africa. Botswana and Namibia joined in October 2015, and Ghana and Zambia in April 2017. Effective 1 January 2021, Mauritius and Morocco have…

OCP GROUP NAMED AS A FINALIST FOR THE 2021 FRANZ EDELMAN AWARD. Prestigious award recognizes the application of outstanding operations research, management science and advanced analytics. OCP Group, the world’s largest phosphate mining and leading fertilizer company, has been named as a finalist for the prestigious Franz Edelman Award 2021,  for successfully using advanced analytics and optimization algorithms   to transform its entire production, supply chain and portfolio arbitrage processes. Alongside other renowned finalists Alibaba, Amazon, JD.com, Lenovo, Memorial Sloan Kettering, and the United Nations World Food Programme, the Franz Edelman Award has recognized OCP for achievements in advanced analytics, operations…

The Ambassador of Egypt in Côte d’Ivoire, HE Dr. Wael BADAWI, received today, Friday January 15, 2021, the Babacar NDIAYE 2020 Trophy on behalf of President Abdel Fattah al-SISI , President of the Arab Republic of Egypt, 2020 winner of the Super Prize Great Builder – Trophée Babacar NDIAYE. The Trophy was presented by the Representative of the African Development Bank (AfDB), Mr. Mike SALAWOU, Representative of the President of the Bank, Dr Akinwumi ADESINA, The Godfather. HE Dr. Wael BADAWI said: “It is a great honor for me to accept, on behalf of His Excellency President Abdel Fattah Al-Sisi,…

Rawbank, a major player in the banking sector in the Democratic Republic of Congo and African Guarantee Fund, a financial institution facilitating SME financing in Africa, have signed an agreement to increase the Bank’s line of guarantee to a total of USD 35 million. Following two previously signed guarantee agreements in 2016 and 2017, African Guarantee Fund, the continent’s leading financial guarantee provider, is once again demonstrating its confidence in Rawbank with a loan portfolio guarantee amounting to USD 35 million. This financial guarantee will be entirely dedicated to Small and Medium Enterprises (SMEs) qualified for green financing. The program…

MSF teams are assisting the Ministry of Health with treating severe cases and efforts to contain the virus in several of the city’s communes. Since early December 2020, Mali has seen a surge in positive cases of Covid-19. The second wave of the pandemic is mainly affecting Bamako, where over 60% of cases have been registered. Communes V and VI are particularly hard-hit. Further aggravated by the Harmattan—the cold desert wind that every year causes numerous acute respiratory infections—, this latest wave has been characterised by a sharp rise in infections and patients developing severe forms of the disease requiring…

The business climate in Senegal recorded a slight drop of 0.4 point at the end of November 2020 compared to the previous month, according to an opinion survey carried out among business leaders by the Forecasting and Studies Department. economic (DPEE). The synthetic indicator of this business climate, calculated on the basis of the balances of opinion of business leaders stood at 96.5 during the period under review against 96.9 in October 2020. “This This situation reflects the unfavorable orientations of the opinions of service providers and traders ”, underlines the DPEE. On an annual basis, the business climate also…

After a positive overall balance of CFAF 284.6 billion (€ 426.900 million) in 2018, Côte d’Ivoire’s balance of external payments ended in 2019 with a surplus of CFAF 477.7 billion. FCFA (716.550 million euros), according to data established by the Central Bank of West African States (BCEAO) validated by the Balance of Payments Committee of this country. This performance was achieved in a context marked by growth in economic activity which was less strong than in 2018. Indeed, the gross domestic product (GDP) recorded, in real terms, an increase of 6.2 %, after 6.9% in 2018. As for the current…

Recruited 6 months ago to lead the US vaccine strategy, Belgian-Moroccan Moncef Slaoui resigned Tuesday January 12 at the request of the Biden team. Dr Slaoui will step down in a month, after leading the unprecedented effort of the US government to develop a safe and effective vaccine against Covid-19 before the end of 2020. The Moroccan-American immunologist had previously announced his intention to resign a once two vaccines and two therapies for Covid-19 were on the market, a goal that was achieved last month with the approval by U.S. health officials of Moderna and Pfizer’s vaccines. Although the vaccination…

The African Development Bank Group is pleased to announce the appointment of Directors General for the East, Central and Southern Africa regions and Deputy Directors General for the East, Central, Northern, Southern and West Africa regions. Serge N’Guessan, Director General, Central Africa Region As Director General, Central Africa, Serge will drive and ensure the operational efficiency, effectiveness and overall health of the Bank’s portfolio across the Central Africa Region. He will also spearhead regional business development and investment, driving resource mobilization across the countries under his remit and growing the business of the Bank significantly. Serge, a Canadian citizen, is a…

When we first come to Niamey, the first idea that comes to mind is to imagine the country in one’s mind. How is Niger? How is the atmosphere in Niamey? What are the holidays like at the end of the year. As we landed on the tarmac at Hamani Diori airport, a ventilated sun greeted us. This is the harmattan. A dry wind blowing from the east and northeast over the Sahara and West Africa this representation flashed again in our minds. And here we are in Niamey. Hamani Diori is in a way the independence of Niger, which was…

The official launch of the services of this digital platform took place on December 29, 2020 under the auspices of the Single Window of Foreign Trade Operations (GUCE-GIE). This is the result of a successful pooling of services between different administrations. In particular, the Single Window for Foreign Trade Operations (GUCE-GIE); the National Council of Shippers of Cameroon (CNCC); Cameroon Postal Services (Campost) and YUP of Société Générale du Cameroun (SGC). From now on, it is therefore possible that all foreign trade procedures are done directly and digitally within the Yaoundé-Nsimalen international airport, in particular through the e-GUCE platform.…

The covid-19 vaccination campaign began in Europe on December 27 and is unlikely to hit Africa until March according to the best forecasts. But already, doubt is settling on the old continent while the Pfizer-Biontech vaccine, the only one authorized, pending that of Moderna or even Sanofi (at least 6 months late), continues to to be transported in what constitutes a logistical challenge not to be underestimated. Once the logistical challenge has been met, it will be necessary to address the doubt, fueled by social networks and the conspiracy theory characteristic of this post-truth era that Ralph Keyes predicted in…

The fear of a disappointing tomorrow has not disturbed cryptocurrencies too much. Thus, bitcoin, ethereum and XRP combined to reach a market cap of $ 511.5 billion, up 235% year-on-year. Covid-19 has failed to curb investor appetite for blockchain currencies. According to Finaria.it, these three currencies show triple-digit growth on March 15, 2020, when their capitalization fell to $ 108.1 billion. At the end of the second quarter, queen cryptocurrencies saw their capitalization grow 30% to $ 201.5 billion, then to $ 284.7 billion in September. Over the past three months, the increase was 80%, bringing the valuation to 521.5…

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…