Author: Albert Savana

Currently valued at 4000 billion dollars, the global market for Islamic finance arouses a strong desire of West African countries that weigh only 5% of the volume of transactions. This is the meaning of the fifth edition of the forum on Islamic finance planned from 19 March 2018 in Dakar. West Africa wants to make Islamic finance a lever for growth in its economy. For the CEO of the African Institute of Islamic Finance (AIIF), Mouhamadou Lamine Mbacké, Islamic finance is growing exponentially as the volume of transactions has increased from 800 to 4000 billion. Yet it is the capital of…

The February 2 2018, S & P Global Ratings confirmed the long-term “CCC +” and short-term “C” debt ratings of the Democratic Republic of Congo (DR Congo). The perspective remains “stable”. Clearly, says S & P, the country’s ability to repay its current and future financial commitments is precarious, although debt service obligations are minimal in the short term. This fragility is linked to the persistent political stalemate in which Democratic Republic of Congo (DR Congo) has been diving since December 2016. In S & P’s view, the stable outlook accompanying the rating reflects both the anticipations of persistent political…

The anti-corruption purge, launched last October in Saudi Arabia by order of Crown Prince Mohammed bin Salman, reported 400 billion riyals (about 107 billion) in the form of cash, real estate assets seized and securities financial. This explains Saudi Attorney General Saoud Al Mojeb at a press conference held last Saturday. The 381 personalities (including several Princes) arrested in November 2017 by the regime and locked up at the Ryad Ritz Carlton had to go to the cashier to regain freedom. The most famous al-Walid bin Talal, Twitter shareholder and owner of the hotel George V in Paris, was released…

King Mohammed VI on Monday sent a message to the 30th summit of the African Union (AU), whose work is taking place at the headquarters of the continental organization in Addis Ababa. The document on the “African Agenda for Migration” was designed with an inclusive and participatory approach. This Agenda should aim to make migration a lever for co-development, a pillar of South-South Cooperation, and a vector of solidarity. For this purpose, it is proposed: -The creation of an African Migration Observatory whose work will be based on the triptych “understand, anticipate and act”. Its mission will be to develop…

The 30th summit of the African Union opened on Sunday 28 January and should close on Monday.

The Senegalese businessman Baba Diaw, the West African hydrocarbon magnate, officially launched 22 January 2018 at the launch of 25, the banking institution of the Dakar financial center. The Bustard Bank has an initial capital of 14 billions of francs. The new financial institution installed in Senegal. It will be added to the list of 24 financial institutions in the Dakar square that share the national market. According to the BCEAO, the approval was finally granted to Abdoulaye Baba Diaw, magnate of the strategic hydrocarbon sector and owner of the trading company International Trade and commodities (ITOC). The armor and…