Author: Albert Savana

Generational economics and structural transformation in the age of Covid-19 in West Africa was on the menu at the first meeting of African think tanks and experts. The United Nations Economic Commission for Africa (ECA / West Africa sub-regional office) organized this virtual meeting to analyze the economic prospects of the 15 ECOWAS countries from the perspective of the Post-Covid 19. The Government of the Federal Republic of Nigeria (through the Ministry of Budget and Finance) strongly participated in the success of this event, which also made it possible to seriously reflect on the methods of capturing the demographic dividend.…

Orange announces the launch of its 5G network in 15 French municipalities, from December 3, 2020, while the anti-Huawei decree, taken by the whole West (USA, European Union and Australia) in a flawless alignment, under the dictation of Donald Trump, could evolve, it is said, with the defeat of its designer in the US presidential...

Central Africa’s financial market, a sleeping giant, is no less resilient. Far from the major financial highways, this market formed between oil states, endowed with immense mineral resources, is slowly beginning to take shape between Libreville and Douala. Things are moving as shown by the ranking of portfolio management companies authorized by the Central African Financial Market Surveillance Commission (COSUMAF), at the end of September 2020, delivers unprecedented results. Thus, Harvest Asset Management chaired by Marc Kamgaing, is the very first entity in terms of funds under management with CFAF 41.6 billion, ahead of ASCA Asset Management (a subsidiary of…

All it took was a dialogue between Ghana and the Ivory Coast, between them producers of 70% of the cocoa bean, for international prices to soar. In the same way as this nascent cartel which should, in our opinion, also include Cameroon, why not urge the signatory countries of fishing agreements with the European Union to join forces to negotiate better? Morocco, Mauritania and Senegal are individually signatories of agreements with the 27 EU countries united in a bloc, with a single team of negotiators and a single imperative: to obtain the maximum amount of fish for the minimum cost.…

The Central Bank of the People’s Republic of China will be one of the very first in the world to issue its own Central Bank Digital Currency (CBDC) or central bank cryptocurrency. The bill concerning this innovation, the Digital Yuan, submitted to public criticism for a month, between October 23 and November 23, aims to position the Middle Empire in the war against the dollar for control of the internet of money and, beyond, to be the currency of global transactions. According to article 19 of the bill in question, “The unit of the Renminbi is the Yuan and the…

China’s historic 2020 participation in the G20’s Debt Service Suspension Initiative (DSSI) marks an important moment in China’s increasing multilateralism. However, while the DSSI gives African governments short-run fiscal space, it also accentuates medium-term debt distress. An ambitious DSSI+ architecture that enhances the transparency and consistency of China’s participation, ensures equal treatment across creditor types, and brings to the fore debt forgiveness is needed to address solvency crises in addition to liquidity ones. Such a DSSI+ framework of sovereign debt measures could raise the creditworthiness of borrowers post-restructuring. China (A+/Negative) has significantly expanded its economic and financial ties with African…

Bloomfield Investment Corporation has maintained unchanged the “A + with a stable outlook” rating awarded to NSIA Banque Côte d’Ivoire, the executives of the Abidjan-based rating agency said. This structure also kept the short-term rating “A1 with a stable outlook” unchanged. The rating is valid from August 2020 to July 2021. To justify its long rating and the outlook attached to it, Bloomfield refers to the bank’s high credit quality, adding that the protective factors are good . However, agency officials believe that the risk factors are more variable and more important in times of economic pressure. In the short…

Development Partners International (“DPI”) through its ADP III fund, CDC Group, the UK’s publicly owned impact investor, and the European Bank for Reconstruction and Development (“EBRD”) have joined forces in a ground-breaking deal to create a major new player in the pan-African pharmaceuticals industry. The three founding investors have committed an initial $250 million of capital that have been used to fund the acquisition and combination of Adwia Pharmaceuticals, an Egyptian generic drugs manufacturer, and Celon Laboratories Pvt, an Indian oncology and critical care specialist. The platform will leverage its manufacturing and R&D centre of excellence in India to strengthen…

The pre-tax profit of the company Bernabé Côte d’Ivoire, specializing in the marketing of hardware products, recorded a decrease of 17.48% in the third quarter of 2020 compared to the same period of 2019, announced the leaders of this company. based in Abidjan. This result fell from FCFA 587.346 million as of September 30, 2019 to FCFA 484.691 million as of September 30, 2020, i.e. a decline of FCFA 102.655 million in absolute value. Turnover, for its part, stood at 29.175 billion FCFA against 31.038 billion FCFA as of September 30, 2019, a decrease of 6%. According to the leaders…

While the African Continental Free Trade Area (AfCFTA), although having reached its minimum threshold of ratification, is struggling to get out of the rut (because, it is argued, of the coronavirus) China, Japan, South Korea, Australia, New Zealand and the countries of the Association of Southeast Asian Nations (ASEAN), in a virtual conference on November 15, 2020, launch the largest free trade area in the world in terms of GDP and populations, with 2 billion inhabitants, or 30% of the world population. Important point to sign, the Regional Comprehensive Economic Partnership (RCEP), under negotiation for ten years, was achieved without…

IT services group Atos on Monday announced the launch of Atos OneCloud, an initiative that will help it accelerate the migration of its customers to cloud computing, through a one-stop shop for offerings. “Atos OneCloud is the answer to further accelerate the digital transformation of our customers towards secure and carbon-free cloud environments,” said group CEO Elie Girard, quoted in a statement. IT services group Atos on Monday announced the launch of Atos OneCloud, an initiative that will help it accelerate the migration of its customers to cloud computing, through a one-stop shop for offerings. Atos will support this initiative…

The inflation rate in the West African Economic and Monetary Union (UEMOA) countries registered a slight decrease of 0.4 percentage point in September 2020 compared to the previous month, according to data from the Central Bank of West African States (BCEAO). This rate would come out, over one year, to 2.9% at the end of September 2020, after an achievement of 3.3% in August 2020. According to the issuing body, “the deceleration in the rate of increase of the general level prices in September 2020 is printed in particular by the Food and Alcoholic Beverages components, whose overall contribution to…

Faced with his French counterpart, Emmanuel Macron, President Macky Sall of Senegal addressed the issue of Islam in what will be one of the highlights of the Peace Forum opened on November 12 in Paris in the context of a sort of vaccine diplomacy in vogue in recent days at the Elysee. “We need to expand the spectrum of discussions and take into account each other’s realities to build common values. It is quite possible ”, declared the Senegalese Head of State at the outset, weighing his words carefully. And to continue. “We don’t necessarily have the same values, we…

Captain Jerry John Ralings, former President of Ghana, died on Thursday, November 12 from the aftermath of Covid-19. Interned at Korl Bu hospital nearly a week ago following his infection with the virus, Ghana’s rebirth father is said to have died of the disease at the age of 73. He had ruled Ghana between 1981 and 2001. Withdrawn, but deeply involved in the settlement of political disputes both in Ghana and in other African countries, the former air pilot of the Ghanaian army symbolized for his country, the model of democracy.

The State of Senegal will proceed on November 25, 2020 to the payment of half-yearly interest and to the partial repayment of the capital of its bond called State of Senegal 6.30% 2015-2025 for an amount of 3.740 billion FCFA (5.610 million euros ). The Senegalese government authorities had successfully launched, between October 30 and November 20, 2015, a bond loan by public offering on the financial market of the West African Monetary Union (UMOA) for an amount of 50 billion euros. FCFA. This operation required the issuance of 5 million bonds at a unit price of 10,000 FCFA. The…

Gabonese village chiefs designated by the technical term of “command auxiliaries” will receive a salary according to the budget forecasts of the Ministry of the Interior currently under consideration by the National Assembly. The village and canton chiefs have been deprived of their salaries for a year. In 2021, some 28.6 billion FCFA will finance the collection of household waste and cover the emoluments of command auxiliaries. In this jackpot, FCFA 18.4 billion will have to be directly allocated to the salaries of village chiefs. In addition to its desire for greater social inclusion, Gabon’s 2021 Budget marks a major…

The International Bank for Trade and Industry of Côte d’Ivoire (BICICI), a subsidiary of the French banking group BNP Paribas, made a loss of 3.612 billion FCFA (5.418 million euros) at the end of the 2019 financial year. , announced the leaders of this banking establishment based in Abidjan. This financial year under review contrasts sharply with that of 2018 when this bank made a significant profit of CFAF 9.793 billion. The loss of 2019 is unprecedented, especially since over the past five years BICICI has only made profits with ups and downs. From 10.834 billion FCFA in 2014, the…

The ECOWAS Investment and Development Bank (EBID) has secured two lines of credit worth 95 million euros from the banking consortium AKA Ausfuhrkredit-Gesellschaft mbH (AKA). Thus, George Agyekum Donkor, President of EBID and Marck WENGRZIK, Managing Director (CEO) of AKA, ratified the agreement via a symbolic virtual conference on Thursday, November 12, 2020. This unprecedented loan agreement marks the start of the agreement. a mutually beneficial partnership between bIDC and AKA. The loan agreement includes a credit line in the amount of 45 million euros for a period of ten years and a one-year revolving credit line of 50 million…

The speculative fund “Black Swan” Universa Investments is, as its name suggests, specialized in the improbable shocks of the black swan type, these inexplicable events which come to severely disrupt the foreseeable trends of a stock exchange like the crisis of 1929, that of 1987 or even that, more recent, of subprimes. The investment strategy of this fund is simple: assure its clients that their losses will be minimal in times of economic prosperity, but that if a sudden shock occurs in the markets, the gains can reach astronomical sums. The fund posted a return of 4,144% in the last…

The German university couple behind the Pfizer vaccine have been as famous as Adam and Eve for 72 hours. He, Ugur Sahin, 55, is the CEO of Biontech, a specialist in molecular medicine and immunology. She, Özlem Türeci, 53, is the chief physician of the laboratory, the daughter of a Turkish physicist. Together, they conducted research on the vaccine developed with the American Pfizer and which is now in phase 3 of its trials. Since January, they have devoted their days and nights to discovering a vaccine against Covid-19. About forty scientists are mobilized day and night. In 2001, the…

Loans to the economy of Tunisian banks increased slightly by 1.04% at the end of June 2020 compared to the previous month, according to data from the Central Bank of Tunisia (BCT). These credits amounted to 85.138 billion dinars against 84.262 billion dinars in May 2020, an increase of 876 million dinars. As for credits from ordinary resources, they stood at 82.195 billion dinars against 81.354 billion dinars in May 2020 (+ 1.03%). For their part, credits from special resources amounted to 2.94 billion dinars against 2.908 billion dinars a month earlier. During this period under review, Tunisian banks carried…

The Commission of the Economic Community of West African States (ECOWAS) congratulated on Tuesday, November 10, President Alassane Ouattara reelected as head of Côte d’Ivoire for the 2020-2025 five-year term. “ECOWAS sends the president-elect its warm congratulations along with its sincere wishes for success in carrying out the mission entrusted to it by the sovereign Ivorian people”, indicates a statement from the body chaired by Jean-Claude Kassi Brou . Who also invited the Ivorians to place “above all peace and social cohesion” and “to resolve all disputes through dialogue and legal channels”. In a speech to the Nation on Monday…

The President of the African Import-Export Bank (Afreximbank) Benedict Oramah, and the Director General of the French Development Agency (AFD) Rémy Rioux, during an online seminar in Cairo (Egypt), discussed, on scaling up climate finance in Africa as part of their joint effort to advance sustainable development as the continent recovers from the COVID-19 pandemic. For Afreximbank, “the event aimed to increase participants’ knowledge of the opportunities and challenges associated with aligning economic development and climate finance to build sustainability and resilience in Africa.” The role of public development banks in financing sustainable development projects and their contribution to partnerships…

Euphoria in Paris, Frankfurt, London, Tokyo. Global financial centers waltzed on the second day Tuesday in hopes of progress towards a possible coronavirus vaccine that could allow the world to return to normal life. Only Shanghai resisted the trend, closing lower. Japan’s Nikkei 225 benchmark is trading at a 29-year high with stocks driven by Joe Biden’s victory in the US presidential election. News about possible progress on a COVID-19 vaccine has pushed prices even higher. Investors were enthusiastic after Pfizer Inc. said Monday that the first data on a vaccine in development suggests that it may be 90% effective…

The State of Côte d’Ivoire, through its public treasury, raised on November 9, 2020 on the financial market of the West African Monetary Union (UMOA) an amount of 33 billion FCFA (49.500 million euros ) at the end of its issue by auction of equivalent treasury bonds (BAT) with a maturity of 28 days. The objective of this fundraising is to meet the financing needs of the state budget. During this month of November 2020, the intentions of issuing public securities expressed by the Ivorian authorities amount to 90 billion FCFA against 60 billion FCFA for the month of October.…

Is there a correlation between criticism of France and seeing its currency tumble? Turkish President Recep Tayyip Erdogan sees the damage caused by this improbable correlation, which has been added, moreover, to inflation of 12%. The massive withdrawals of foreign investors from the Turkish lira took it to its lowest point. Fearing a hackneyed plot from abroad and reinforced by an imaginary fifth column, the Turkish president on Saturday sacked central bank governor Murat Uysal, a technocrat who refuses to follow the presidential directive to lower interest rates. The decision was announced by decree published in the Official Journal. Murat…

China, the world’s leading economic power from 2024, ahead of the United States. As IMF data put into perspective by Statista shows, Asia continues to climb in the rankings of world economic powers while Africa is absent in the world top 10. According to forecasts, the world’s top 5 countries with the highest GDP will be occupied by four Asian countries by 2024, relegating the European powers to a lower rank. China, whose economic growth exploded from the 1990s, is expected to see its GDP surpass that of the United States within four years and take the top spot. India…

The net income of Bank Of Africa (BOA) Côte d’Ivoire, a subsidiary of the banking group of the same name, increased by 23.3% at the end of the third quarter of 2020 compared to the same period of 2019, announced the leaders of this banking establishment based in Abidjan. This net result thus stood at 11.781 billion FCFA as of September 30, 2020 against 9.556 billion FCFA as of September 30, 2019, an increase of 2.225 billion FCFA. During the period under review, the resources collected by the bank shrank by 7.535 billion FCFA, with an output which fell from…

Senegal’s total public debt stock is projected at CFAF 9,176.3 billion (€ 13.764 billion) in 2020, according to the economic and financial report appended to the 2021 finance law established by the Ministry of Finance and budget. Compared to 2019 when it amounted to CFAF 8,231.8 billion, this outstanding amount has increased by 11.5%. “It should represent 64% of gross domestic product (GDP) in 2020 in connection with the large loans granted as part of the fight against Covid-19 in 2020 and however remain below the standard adopted as part of the pact of UEMOA convergence ”, underline the services…

The State of Burkina Faso, through its General Directorate of the Treasury and Public Accounts, obtained Wednesday, November 4, 2020 on the financial market of the West African Monetary Union (UMOA) the sum of 40.404 billion FCFA (60.606 million euros) following its issue by auction of Assimilable Treasury Bonds (OATs) with a 7-year maturity. The funds obtained are intended to cover the financing needs of the Burkinabé state budget. For the month of November 2020, the intentions of issuing public securities by the Burkinabe government authorities amount to 45 billion FCFA as in October 2020. The amount put out to…