Author: Albert Savana

“In the second quarter of 2025, Benin’s merchandise exports decreased by 20.2% compared to the first quarter of 2025, according to data from the National Institute of Statistics and Demography (INStaD). According to this institution, during the period under review, cotton (excluding linters), not carded or combed (-18.1 percentage points), oilseeds and fruits, n.e.s. (not...

S&P Global Ratings has announced that it has placed Madagascar’s sovereign rating (‘B-/B’) on CreditWatch with negative implications, while lowering its Transfer and Convertibility (T&C) assessment from ‘B’ to ‘B-‘. This decision follows the military takeover, which occurred after several weeks of anti-government protests that led to the departure of President Andry Rajoelina. The agency...

At the end of its meeting on October 9, 2025, the Board of Directors of Arab Tunisian Bank (ATB), a Tunisian bank founded on June 30, 1982, through the integration of the Tunisian branch of Arab Bank and the contribution of Tunisian individuals, decided to convene an Extraordinary General Meeting (EGM) to be held on...

At the end of a simultaneous issuance of Treasury assimilable bills (BAT) with a maturity of 364 days and Treasury assimilable bonds (OAT) with a maturity of 3 years, Senegal raised an amount of 33 billion CFA francs (59.4 million dollars) on the West African Monetary Union (UMOA) financial market on Friday, October 17, 2025....

A few weeks before the COP and under the leadership of its president, Donald Trump, a self-proclaimed neo-conservative and climate skeptic, Washington disarms green finance. Banks, majors, funds: a major setback with negative consequences on the GDP of African and Global South countries. On October 16, the Federal Reserve repealed guidelines requiring large banks to...

Interpellated by a journalist from 2STV about the recent downgrade of Senegal’s rating, IMF Managing Director Kristalina Georgieva chose clarity over political correctness. “I do not comment on the decisions of rating agencies,” she first reminded, before praising “the courage of the Senegalese authorities” for bringing to light a debt that was previously hidden. “They deserve credit for revealing a serious problem of false declaration. It took time to measure the extent of it and find the way forward. But today, the situation is clear,” she said. The head of the IMF confirmed that following this clarification, Dakar officially requested…

On October 15, 2025, on the sidelines of the IMF and World Bank Annual Meetings, US Treasury Secretary Scott Bessent delivered a clear statement: the Bretton Woods institutions must return to their “core missions” and move away from “peripheral issues” such as climate or gender. Under the guise of efficiency and budget discipline, the representative...

The public treasury of Mali raised, on October 10, 2025, an amount of 28.786 billion CFA francs on the regional financial market, through a simultaneous issuance of treasury bills and bonds. The issued securities – T-Bills at 364 days and Treasury Bonds at 3 and 5 years – have respective average yields of 7.67%, 9.32%...

“In the first quarter of 2025, the turnover index in the construction sector in Burkina Faso recorded a decrease of 40.0% compared to the previous quarter, according to data from the National Institute of Statistics and Demography (INSD) based in Ouagadougou. This index stood at 159.3 points against 265.4 in the fourth quarter of 2024....

Long a discreet officer of the CAPSAT camp (Autonomous Corps of Personnel and Administrative and Technical Services), Colonel Michael Randrianirina, 51 years old, emerged in a few days in October 2025 as a central player in the political shift in Madagascar. “This is not a coup d’état, it is a taking of responsibility,” he declared...

“The cumulative revenues of the venture capital investment company Tuninvest Société d’Investissement à Capital Risque (SICAR), created in 1994 and whose purpose is to participate in the capital of companies in order to restructure them and create value, recorded a significant increase of 172% at the end of the first nine months of the 2025...

In the first half of 2025, the tax-free turnover of Servair Abidjan, specialized in aircraft refueling, increased by 10% compared to the same period of the 2024 fiscal year, announced the leaders of this company based in Abidjan. The certified half-yearly activity and results table by the auditors highlights a turnover of 6.584 billion FCFA...

Ethiopia has failed to reach an agreement with its eurobond holders after several months of formal negotiations that began in 2025. According to sources close to the matter, the discussions did not lead to a consensual restructuring of the country’s only Eurobond, amounting to $1 billion, which matured in December 2024. The main sticking point...

At the end of their Ordinary General Meeting (OGM) on September 28, 2025, the shareholders of the public limited company Carthage Medical, specialized in the production, marketing, and export of pharmaceutical products and medical devices, decided to allocate the deficit result of the 2024 fiscal year to the Retained Earnings account, announced the leaders of...

Businessman Mamy Ravatomanga extricated himself from the Malagasy turmoil on the night of October 12. After midnight, his Cessna 5R-HMR from Trans Ocean Airways landed on the tarmac of Plaisance, in Mauritius. Officially, a simple emergency landing. Unofficially, a carefully orchestrated escape. According to reports, he is said to be placed under house arrest in...

At the end of August 2025, gold and cocoa were the only main raw materials exported by the countries of the West African Economic and Monetary Union (WAEMU) to have recorded price increases, according to data from the Central Bank of West African States (BCEAO), based in Dakar. Gold saw its price increase by 36.3%...

At 92 years old, Paul Biya follows a pre-written script. The presidential elections on October 12, 2025, organized in a quiet atmosphere, seem tailor-made to open the door for an eighth term for him. The strongman of Yaoundé, in power since 1982, is once again preparing to extend the world record for the longest reigning...

Moody’s Investor Services has downgraded Senegal’s sovereign credit rating from B3 to Caa1, with a negative outlook. This decision, made public on October 10, 2025, raises serious concerns about the sustainability of the public debt and the liquidity of the Senegalese government. What does a Caa1 rating mean? The Caa1 rating is considered highly speculative and very risky. It reflects a high risk of default in the event of economic or financial shocks. In comparison, investment grade ratings (A, Baa) indicate a better credit quality, while Caa1 falls into the category of high yield bonds, often called junk bonds. The…

On October 10, 2025, S&P Global Ratings upgraded Egypt’s long-term sovereign credit rating from “B-” to “B”, while confirming the short-term rating at “B”. The agency also raised the transfer and convertibility assessment to “B” from “B-” previously. The outlook remains stable. Growth and Macroeconomic Reforms: This upgrade reflects the reforms implemented since 2024, including...

“In August 2025, Guinea’s trade balance showed a surplus of 2,302.2 billion Guinean francs (GNF), equivalent to 276.264 million dollars, compared to a deficit of 535.0 billion GNF (64.200 million dollars) the previous month, according to data from the National Institute of Statistics (INS) based in Conakry. “This improvement is mainly explained by the surpluses...

The consolidated profit of the Zellidja group, whose activities are organized around trading, hotel operation, and real estate sectors, recorded a 9.03% increase at the end of the first half of 2025 compared to the same period in 2024, announced the leaders of this company based in Casablanca. This revenue amounted to 374 million dirhams...

On November 3 and 4, 2025, Casablanca will become the focal point of African finance. For its fifth edition, the Africa Financial Summit (AFIS) presents an impressive lineup: finance ministers, central bank governors, heads of banking groups, and institutional investors. The event is shaping up to be the major meeting of decision-makers who think—and shape—the financial sovereignty of the continent. A stage where politicians and financial strategists intersect At the forefront are the top financial leaders of the continent. Morocco will be represented by Nadia Fettah, Minister of Economy and Finance, and Abdellatif Jouahri, Governor of Bank Al-Maghrib, a symbol…

The provisional total volume of public securities issuances (treasury bills and bonds) through auctions projected by the member countries of the West African Economic and Monetary Union (UMOA) for the 4th quarter of 2025 amounts to 2,344 billion CFA francs (4.219 billion dollars), according to a note sent to investors by Mrs. Oulimata Ndiaye Diassé,...

Funding granted by the Central Bank of West African States (BCEAO) in the West African Economic and Monetary Union (WAEMU) money market experienced a slight decrease of 0.3% in August 2025 compared to the previous month, according to data from the Dakar-based issuing institute. The average amount of this funding amounted to 7,994.2 billion CFA...

Libreville, October 6, 2025 – Radical decision by the Gabonese government: all pending payment orders at the Treasury dating back to before 2023 are simply deleted. The announcement was made by the Minister of State in charge of Economy, Finance, Debt and Investments, in an official statement published on October 6, 2025. This measure is...

Lomé, October 6, 2025 – By increasing the size of its sovereign credit insurance policy to 297.6 billion CFA francs (454 million euros), the West African Development Bank (BOAD) is taking a new step in the active management of its sovereign risk and in mobilizing long-term resources. “This mechanism enhances our risk profile and that...

According to information obtained by Financial Afrik, no recapitalization or sale file has yet been officially submitted to the Central Bank of West African States (BCEAO) or the banking commission. “In any case, as far as the increase in capital is concerned, the subsidiaries will submit their files separately,” confides an internal source close to the regulator, specifying that the chosen architecture will be fragmented rather than consolidated. This requirement follows the decision of the UMOA Council of Ministers on December 21, 2023 in Cotonou to increase the minimum capital of banks from 10 to 20 billion CFA francs, a…

On September 30, 2025, the scheduled date for the release of the initial capital of the Confederation Bank for Investment and Development of the Sahel States Alliance (BCID-AES), passed without any joint statement or official announcement. Neither in Niamey, nor in Ouagadougou, nor in Bamako, did the “white smoke” appear. The institution, presented as the...

Economic activity (excluding agriculture and forestry) in Senegal recorded a 10.1% increase on a monthly basis at the end of July 2025 compared to the previous month, according to data from the Directorate of Forecasting and Economic Studies (DPEE) based in Dakar. According to this organization, the increase in economic activity took place “thanks to...

Shareholders of Vivo Energy Côte d’Ivoire, specialized in the distribution of petroleum products, will receive on October 22, 2025, for the 2024 financial year, a gross total dividend of 5.390 billion CFA francs (9.702 million dollars), announced the leaders of this company based in Abidjan. Based on the 63 million shares that make up the...