Author: Albert Savana

“The Government of Côte d’Ivoire has been consistent in its relationship with African Risk Capacity. The expected trigger of a payout to the country will, once again, validate ARC’s proof of concept and enable the Government to quickly come to timeously assist the affected population thereby significantly reducing vulnerability and promoting resilience”, – Dolika Banda, CEO, ARC Insurance Limited Abidjan, September 12, 2019 – The African Risk Capacity Insurance Limited (ARC Ltd) has confirmed that it will pay out the sum of $738, 835 to the Government of the Republic of Côte d’Ivoire following the severe rainfall deficits experienced in the central region…

On October 4th and 5th, 2019, the 6th edition of the Rebranding Africa Forum will open its doors to more than 500 participants from all over the world. At the heart of the debate: African mines. On the sidelines, an intensive and certified Mining and Energy Intelligence training will be organized by the CAVIE in the capital of Europe. Under the theme “The socio-economic challenges of mining in Africa”, the 6th edition of the Rebranding Africa Forum (RAF2019) will open its doors to more than 500 participants from around the world on October 4 and 5, 2019. On the sidelines…

By Amath Ndiaye Associate Professor FASEG-UCAD. The decision of the Senegalese government to stop the orientation of new graduates in private higher education institutions (EPES) is not based on criteria of financial and economic efficiency. This measure is taken in haste and the illusion that the billions paid to EPES are excessive and that they could have been used to develop public university education. Before coming to our argument, we would like to recall that the conditions that had pushed the state to direct students in the private sector are still there: public universities still suffer from lack of everything…

In terms of convergence in the West African Economic and Monetary Union (UEMOA), no state has met in 2018 the three criteria of first rank, according to the UEMOA Commission based in Ouagadougou. These first-order criteria concern the ratio of the overall fiscal balance, including grants, to nominal GDP, greater than or equal to -3%, the average annual inflation rate of up to 3% per year and the ratio of the outstanding amount of the domestic and external debt relative to nominal GDP, less than or equal to 70%. The report on multilateral surveillance in the UEMOA prepared by the…

The Union of Comoros joins the group of intermediate countries according to the new classification of the World Bank. “After analyzing the economic performance of our country, and particularly the last three years, the World Bank has decided to classify Comoros in the Group of Intermediate Countries,” said President Assoumali Azali, who made the announcement. to the Comorians. In the new classification of 1 July 2019, involving 7 new intermediate countries outclassed, there are 3 African countries, Comoros, Senegal and Zimbabwe.

The General Directorate of Treasury and Public Accounting of Togo raised on September 6, 2019 on the financial market of the West African Monetary Union (WAMU) an amount of 22 billion FCFA (33 million euros) at the end of its tender of equivalent bonds of the treasure (OAT) to 5 years month organized in partnership with the UMOA-Titres Agency. The total amount sought was 20 billion FCFA (30 million euros). But at the end of the issue, the issuer was offered by the investors 48.465 billion FCFA (72.698 million euros) of global bids, ie a coverage rate of the amount…

Murdoch hosted Kingdom Business Network (KBN) Chief Executive Officer Joarina Matthys and four of its entrepreneurs to participate in a panel at the 9th Annual Africa Australia Research Forum A new partnership between Murdoch University (www.Murdoch.edu.au) in Western Australia and the South African-based Kingdom Business Network (KBN) took a first step towards formation after a visit to Perth for Africa Week by a delegation of five of its members. The KBN is a programme created and funded by the South-African diversified investment company, the Beryl Group, to inspire entrepreneurs to create and acquire sustainable wealth, enabling them resources and training…

Extraordinary Summit of ECOWAS Heads of State and Government on Terrorism in Ouagadougou, 9 to 14 September 2019 While the ECOWAS Heads of State and Government meet on Saturday, September 14, in an extraordinary summit on terrorism, the signatory organizations, working alongside local communities affected by insecurity in the Sahel countries, are alerting the importance of placing the protection of civilians at the heart of responses to insecurity in the Sahel and recall the human cost of the fight against terrorism. Civilians are the first victims of conflicts in the Sahel, affected by an unprecedented humanitarian crisis. In one year,…

– 10-TIME NBA ALL-STAR RAY ALLEN ATTENDS JR. NBA LAUNCH EVENTS IN KHOURIBGA AND BENGUERIR, MOROCCO – The OCP Group (OCP), a world-leader in the phosphate industry, and the National Basketball Association (NBA) today announced a new, multiyear partnership to expand Jr. NBA programs, teach life skills and build new basketball courts in Khouribga and Benguerir, Morocco and in the Rwandan capital of Kigali, while using the transformative power of basketball to empower Moroccan and Rwandan youth and their communities. The announcement was made today during the opening ceremony on the newly built basketball court at Ennahda in Khouribga, Morocco…

The accumulation of term deposits made in the accounts of the West African Economic and Monetary Union (WAEMU) banks decreased by 15.1% at the end of 2018 compared to 2017, according to data from the Central Bank. West African States (BCEAO). The cumulation of these deposits increased from CFAF 8,396.2 billion in 2017 to CFAF 7,130.3 billion in 2018, a drop of CFAF 1265.9 billion. By country, the decreases were observed in Senegal (-49.1%), Niger (-26.2%), Mali (-10.6%), Benin (-4.6%) and Togo (-3.9%). On the other hand, new term deposits increased in Guinea-Bissau (+ 34.9%), Côte d’Ivoire (+ 4.2%) and…

The grants are designed by the Bank’s Africa Fertilizer Financing Mechanism (AFFM) to provide sustainable financing solutions to boost the fertilizer value chain in Africa The African Development Bank (AfDB.org) and the African Fertilizer and Agribusiness Partnership (AFAP) have signed two grant agreements to implement trade credit guarantees worth $5.4 million to support fertilizer value chains in Nigeria and Tanzania, potentially benefitting hundreds of thousands of smallholder farmers. The organizations held a signing ceremony at the African Green Revolution Forum in Accra, Ghana on 5 September 2019. Dr. Jennifer Blanke, African Development Bank Vice President for Agriculture, Human and Social Development…

On September 28, 2019, the ECOWAS Bank for Investment and Development (EBID) will pay the half-yearly interest and the repayment of the capital of its bond BIDC-EBID 6.50% 2014-2021 for an amount of 3.766 billion euros. FCFA (5.649 million euros), announced the leaders of this financial institution based in Lome in Togo. EBID launched during the period 18 February to 18 March 2014, a public bond loan for an amount of 40 billion FCFA (60 million euros). The price of the bond was fixed at 10,000 FCFA (15 euros) with an annual interest rate of 6.50%. The duration of the…

The African Export-Import Bank (Afreximbank) will allocate $500 million from its Nigeria-Africa Trade and Investment Promotion Programme to support Nigerian manufacturers to take advantage of the opportunities offered by the African Continental Free Trade Area (AFCFTA) agreement, Bank President Prof. Benedict Oramah, has announced in Lagos. Prof. Oramah, who was the Guest Speaker at the Annual Lecture and Presidential Luncheon organised on Tuesday as part of the 47th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), said that the facility would support Nigerian manufacturers to expand trading in their products into, and to source raw materials from, other…

Bolloré Transport & Logistics inaugurated its new multimodal logistics hub, Aerohub, in Abidjan on Wednesday 4 September 2019. Attending the event was Thierry Ehrenbogen, CEO of Bolloré Logistics. Featuring latest-generation equipment, Aerohub will receive, store and distribute via a tri-temperature platform (frozen, positive cold, ambient temperature) goods intended for the Côte d’Ivoire and sub-regional market for companies in the mass retail, telecoms, pharmaceutical and catering sectors. Aerohub is ideally located at the Félix Houphouët Boigny airport and close to the Port of Abidjan, making it a connection point between international sea and air logistics flows as well as final consumers.…

How can Africa realize economic prosperity without contributing further to climate change? The solution lies in a kind of Green New Deal – a comprehensive strategy for achieving sustainable growth, including through coordinated, large-scale investment in renewable-energy deployment. CAPE TOWN – Earlier this year, Tropical Cyclone Idai tore through southern Africa, killing hundreds, injuring thousands, and displacing even more. In Mozambique, as much as half of all annual crops and critical infrastructure were destroyed. In total, over three million people in the region were affected. It was a stark reminder of Africa’s vulnerability to the intensifying consequences of climate change. Cyclones are…

“There is a business case for governments to invest in grey matter – Jennifer Blanke By investing in Africa’s food markets, governments can win the fight against stunting and improve nutrition across the continent. And with support from institutions like the African Development Bank, the results would be a win-win situation for all. “What a huge potential the food markets represent. “Feed Africa,” which is one of the Bank’s High 5 priorities, has nutrition at its core,” Bank Vice President for Agriculture, Human, and Social Development, Jennifer Blanke said Thursday at a panel discussion on day two of the 7th Tokyo International Conference…

The Harmonized Index of Consumer Prices (HICP) in the West African Economic and Monetary Union (WAEMU) zone decreased by 0.6% at the end of April 2019 compared to its April 2018 level, announced the UEMOA Commission based in Ouagadougou, Burkina Faso. This index stood at 102.5 against 103.1 in April 2018. According to the WAEMU commission, the evolution of the HICP varies depending on the country. Compared to the price level of April 2018, the index of April 2019 falls for Benin (-1.6%), Burkina Faso (-2.5%), Mali (-1.2%), Niger (-2.8%) and Togo (-0.3%). In the other three countries, the index…

Resumed 51.6% by Canadian Westbridge Mortgage REIT since January 2018, the Côte d’Ivoire Habitat Bank (BHCI) is running out of cash. The recapitalization of CFAF 10.7 billion of the bank was not enough to cover its commitments and follow a spectacular rise in the staff turnover curve from 170 employees to 270 in the space...

The turnover of Vivo Energy Ivory Coast, a company specializing in the distribution of hydrocarbon products, recorded a 4% increase at the end of the first quarter of 2019 compared to the same period of the year 2018, announced the leaders of this company based in Abidjan. This turnover amounted to 88.179 billion FCFA against...

Africa50 and Rwanda Development Board will establish a joint venture company to co-develop, finance, construct, and operate the commercial components of the project. Rwanda Development Board (RDB) and Africa50, the pan-African infrastructure investment platform, signed a Joint Development Agreement (JDA) to further the development of the Kigali Innovation City (KIC) project. This follows the signing of a Term Sheet during the Africa Investment Forum in November 2018 in the presence of Right Honorable Edouard Ngirente, Prime Minister of Rwanda. KIC is a pan-African focused innovation hub that will house four international universities, innovative firms focused on agriculture, healthcare and financial…

The outstanding domestic claims of the West African Economic and Monetary Union (UEMOA) depository institutions increased by CFAF 2,585.7 billion (or € 3.878 billion) at the end of December 2018 compared to its level at the end of December. 2017, according to data from the Central Bank of West African States (BCEAO). This outstanding amount stood at CFAF 30,023.8 billion during the period under review against CFAF 27,438.1 billion at the end of December 2018, an increase of 9.4%. “This development is driven by the combined effect of the consolidation of net claims on the Central Public Administration (APUC) and…

The net result of Bank Of Africa (BOA) Mali, a subsidiary of the banking group of the same name, fell by 17.35% at the end of the first quarter of 2019 compared to the first quarter of 2018, announced the leaders of this banking institution based in Bamako. This result stood at 1.572 billion CFA...

BMCE Bank Of Africa has succeeded the first phase of its capital increase operation, made necessary following the implementation of the “capitalivore” IFRS 9 standard. Thus, from July 9 to 31, the Bank controlled by the holding company Finance.com of the businessman Othman Benjelloun realized a capital increase by optional conversion of dividends and by subscription in cash. Two twinned transactions that solicited the shareholder portfolio. Thus, more than 5,540,044 shares were subscribed at the unit price of 180 dirhams. The conversion of dividends worth MAD 730 million saw the creation of 4,083,101 new shares. At the end of these…

According to the financial statements released on 9 August by the five institutions of the World Bank Group, total commitments to help countries improve their lives and development outcomes are 59.5 per cent. billions of dollars for the 2019 financial year. These financial statements include the management report of the four World Bank Group institutions engaged in financing development: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the Financial Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). “Today’s four sets of financial statements for fiscal 2019 prove that the World Bank Group has the…

Following the resounding arrest of Nigeria’s business icon Obinwanne Okeke, federal prosecutors at the United States Department of Justice said on Thursday that 80 people in the United States and Nigeria have stolen about $ 1.1 billion across the country. fraudulent schemes in seven months, reports the Washington Post. “In the first seven months of this year, the FBI (Federal Bureau of Investigations) online crime complaint centers have received nearly 14,000 complaints from victims reporting incidents of compromised e-mail ( BEC), with a total loss of $ 1.1 billion, “said Paul Delacourt, deputy director of the FBI in charge of…

Industrial production in the West African Economic and Monetary Union (UEMOA) rose by 4.3% at the end of 2018, according to data from the Central Bank of West African States ( BCEAO). Compared with 2017, when growth of 3.5% had been observed, WAEMU’s industrial production increased slightly by 0.8 percentage points. “This evolution reflects mainly the acceleration of the pace of manufacturing production, which rose 9.5% in 2018 against 5.0% recorded the previous year, particularly in connection with the rebound in production in the United States. chemical industry (+ 24.2% vs. + 3.7%), says the BCEAO. On the other hand,…

The management indicators of Bank Of Africa (BOA) Côte d’Ivoire, a subsidiary of the banking group of the same name, deteriorated at the end of the first quarter of 2019 compared to the same period of 2018, announced the leaders of this establishment bank based in Abidjan. Net banking income (NBI) thus decreased by 3.12% from CFAF 8.212 billion at 31 March 2018 to CFAF 7.956 billion at March 31, 2019. According to the leaders of the BOA Côte d’Ivoire, this evolution This is mainly attributable to the decline in interest income earned on the securities portfolio, as the bank…

Investors in the financial market of the West African Monetary Union (WAMU) have shown a real craze for good equivalent of the Treasury (BAT) to 12 months issued August 21, 2019 by the General Directorate of Treasury and Public Accounting of Burkina Faso in partnership with the UMOA-Titres Agency. At the end of the auction, the UMOA-Titres agency has registered 70.994 billion FCFA (or 106.491 million euros) of global investor bids while the issuer only requested 20 billion FCFA ( 30 million euros). The rate of coverage of the amount tendered by the bids was 354.97%. Finally, the General Directorate…

Harvard Kennedy School (HKS) today announced the creation of a new graduate student fellowship program funded by a $1 million gift from Harvard College alumnus Hazem Ben-Gacem AB 1992. For the next three years, the fellowship, will cover the costs for up to two accepted applicants from Tunisia per year, enrolled in the HKS Master in Public Administration (MPA) degree program. The fellowship program honors Ben-Gacem’s father, Hamida Ben-Gacem MPA 1972, the first Tunisian graduate of Harvard Kennedy School. “We appreciate Hazem’s continuing generous support of Harvard University and Harvard Kennedy School,” said Kennedy School Dean Douglas Elmendorf. “Tunisia is…

Seedstars World, the largest seed-stage startup competition for emerging markets and fast-growing startup scenes, brought its Senegal round to a successful close during Seedstars Dakar. The event took place this Thursday, at Sonatel Headquarters, and 8 selected startups were invited to present their companies in front of the local jury panel. The local winner, Afrikamart, an agri food tech startup that aims to become the largest quality fresh food supplier in West Africa without owning any farm. Through their solution they tackle the challenges of access to market, logistics and efficient agriculture in the fresh food sector, was named “Best…