Author: Albert Savana

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…

New “Generation Africa” initiative to grow young entrepreneurs and transform Africa’s agri-food sector will award two $50,000 prizes on 4 September at the Africa Green Revolution Forum in Accra, Ghana. 12 young entrepreneurs from across Africa — Botswana, Cameroon, Democratic Republic of Congo, Ghana, Kenya, Nigeria, Senegal, South Africa, Uganda, and Zimbabwe — have been named as finalists in the inaugural $100,000 Generation Africa GoGettaz Agripreneur Prize, a new, continent-wide competition launch ed on 30 May to select two innovative ventures in the agri-food sector to win $50,000 each in social impact investment as well as mentoring support. On 3 September…

The General Directorate of Treasury and Public Accounts of Côte d’Ivoire obtained Tuesday, August 20, 2019, an amount of 27,500 billion FCFA (or 41,250 million euros) on the financial market of the West African Monetary Union ( UMOA) at the end of its issuance of good equivalent of the Treasury (BAT) to 3 months, announced the head of the agency UMOA-Securities based in Dakar. While he was looking for only 25 billion FCFA, the Ivorian public treasury ended up with 44.039 billion FCFA of global bids from investors at the end of the auction. This gives a coverage rate of…

The shareholders of the Multinational Bitumen Company (SMB) Côte d’Ivoire, will receive on 29 August 2019, for the 2018 financial year, a net total dividend of CFAF 1,815 billion (ie 2,723 million euros), announced the leaders of this company based in Abidjan. This corresponds to a net dividend per share of 450 FCFA. At the end of the 2018 financial year, the SMB had realized an after-tax profit of 7.877 billion FCFA against 7.506 billion FCFA in 2017, a slight increase of 4.94%. Its turnover was up sharply by 43.936 billion FCFA, from 90.262 billion FCFA in 2017 to 134.198…

Accused of manipulating his figures on poverty by the Financial Times, Rwanda was quick to react. On a visit to Namibia, President Paul Kagame took advantage of a joint press conference with his host, Hage Geingob, on the theme of poverty, to bring a dry reply to the British daily: “If we manipulate figures, we...

Babatunde Fowler has just received a strange petition from the Nigerian presidency. The letter received by the complainant on August 8, questioned the decline in revenue recorded between 2015 and 2018. Summoned to respond as soon as possible, the director should explain why domestic tax revenues, constantly rising under the Goodluck Jonathan era, have been...

The 6th edition of the FORUM AFRICA SME CHAMPIONS FORUM 2019 will be held on 12 and 13 November 2019 in Johannesburg, South Africa. The two-day program will bring together high-growth African SMEs, large corporations, leading financial institutions, venture capital investors, key business development experts for SMEs, and policy makers. The event revolves around the following points: – a rich program articulated around high level sessions: round tables, thematic master classes, sectoral sessions on business opportunities in Africa; – Internationally renowned speakers specializing in financing and supporting the growth of African champions; -A team of experts specialized in providing individualized…

Coris Bank International posted in the first quarter of 2019 a good performance on its management and financial indicators compared to the same period of 2018, according to the data announced by the leaders of this banking institution based in Ouagadougou in Burkina Faso. The net banking income (GNP) thus rose sharply by 32.97% during...

Oragroup announces a € 20 million loan from AFRICA AGRICULTURE AND TRADE INVESTMENT FUND (AATIF), an investment company specializing in agricultural finance in Africa, whose main investors are the German government and German Development Bank KfW. The funds received by Oragroup will be used to finance private companies involved in agricultural campaigns in the countries...

On August 8, the South African group Standard Bank Limited (SBG, Ba1 Stable) announced that it would exercise a put option to sell its 20% stake in ICBC (Argentina) SA (ICBC Argentina, Ba3 / Ba3 negative, b2) control of the shareholder bank, Industrial and Commercial Bank of China Ltd. (ICBC China, stable A1, baa1), for $ 180.8 million. According to Moody’s, the sale is a positive credit for ICBC Argentina because it reinforces the Chinese company’s commitment to its activities in Argentina in the face of the country’s macroeconomic crisis and the high volatility of the markets. ICBC China already…

Abdalla Hamdok was proposed on August 15 as prime minister of the transitional government set up in Sudan following the agreement concluded on July 17 between the various political forces and the army. The transitional government, which will formally start on August 20, will lead the country for the next three years, or 39 months. The 20-member government will be civilian with the exception of the Ministries of Defense and the Interior. The choice of Abdalla Hamdok should be formalized next Tuesday. The last word comes back to the Sovereign Council, which must lead the transition. Former Deputy Secretary General…

The Ministry of Trade and Industry and the Ministry of Foreign Affairs and Regional Integration and, in partnership with the Economic Commission for Africa and the African Union Commission (AUC), are organising a High-Level Conference on AfCFTA from 19-21 August 2019, at the Accra International Conference Centre, Accra, Ghana focsuing on Harnessing the benefits of the African Continental Free Trade Area (AfCFTA) for a Ghana beyond Aid. The purpose of the National Conference is to bring together key stakeholders in Ghana to discuss national strategies and programme interventions to harness the benefits of the AfCFTA. The President of the Republic…

The case opposes Webcor ITP Limited to the State of Gabon. This Malta-based company, which has no known activity, signed a framework contract on June 12, 2010 for the construction and operation of the Libreville Grand Exchange. For this purpose, a local company is created, on behalf of Grand Marché de Libreville. On 16 November...

Senegal’s trade deficit fell by CFAF 62.8 billion (94,200 million euros) at the end of June 2019 compared to the previous month, according to the economic outlook prepared by the Directorate of Forecasting and Development. economic studies. This deficit amounted to 144.9 billion FCFA against 177.8 billion CFA francs in May 2019. “This situation reflects a decline in exports (-63.1 billion) less pronounced than that of imports of goods (-143 , 1 billion), “says the DPEE. Exports of goods are valued at CFAF 128.3 billion during the period under review against CFAF 191.3 billion in May, a decrease of 33.0%.…

The General Directorate of Treasury and Public Accounts of Burkina Faso raised on August 6, 2019 on the financial market of the West African Monetary Union (WAMU) the sum of 22 billion FCFA (33 million euros at the end its 3-year Treasury equivalent bond (OAT) issue organized in partnership with the UMOA-Titres agency. The total amount put up for auction by the issuer was 20 billion CFA francs (30 million euros). But at the end of the auction, the UMOA-Titres agency has identified 35.762 billion FCFA (53,644 million euros) in the form of global bids. This gives a coverage rate…

The company Bernabé Côte d’Ivoire, a subsidiary of the multinational of the same name, specializing in the marketing of hardware products, will pay to its shareholders on July 19, 2019, for the 2018 financial year, an overall net dividend of € 298.080 million. FCFA (447.120 euros), announced the leaders of this company based in Abidjan. In relation to the 6,624,000 shares that make up the capital of this company, this corresponds to a net dividend per share of 45 FCFA against 63 FCFA in 2017. At the end of the 2018 financial year, Bernabé Côte d’Ivoire had realized an after-tax…

Senegal’s trade deficit deteriorated by CFAF 52.10 billion (78.150 million euros) in May 2019 compared to April 2019, according to the economic outlook of the Directorate of Forecasting and Studies. (DPEE). Senegal’s external trade showed a deficit of 177.8 billion FCFA in May 2019 against a deficit of 125.6 billion FCFA at the end of April 2019. “This situation reflects an increase in exports (plus 33.5 billion FCFA) less than that of imports of goods (plus 97.3 billion FCFA). Exports of goods are valued by the DPEE at 191.30 billion FCFA against 157.9 billion in April 2019, an increase of…

The total provisional amount of issues of public securities by auction in the countries of the West African Economic and Monetary Union (WAEMU) for the third quarter of 2019 amounted to CFAF 616 billion ($ 924 million). euros), according to the UMOA-Securities Agency based in Dakar (Senegal). This amount results from a note addressed to investors operating on the public securities market of the WAEMU States by Mr. Adrien Diouf Director of the UMOA-Titres agency. The amount of projected issues is divided into equivalent Treasury Bills (BAT) for 280 billion FCFA and equivalent Treasury bonds (OAT) for 336 billion FCFA.…

The General Directorate of Treasury and Public Accounts of Niger obtained Thursday, July 4, 2019 on the financial market of the West African Economic and Monetary Union (UEMOA) an amount of 22 billion FCFA (33 million euros) to 364 days, the UMOA-Titres agency, headquartered in Dakar (Senegal), has announced that it will issue its 364-day treasury bills. According to the report of the Agence UMOA-Titres, this program was a great success. Indeed, while he was requesting only 20 billion FCFA, Niger’s public treasury received global bids from investors amounting to 58.254 billion FCFA (1 FCFA equals 0.0015 euros). This gives…

This is a first in a country where foreign private investment still holds the upper hand over the national economy: the Senegalese Investors Club (CIS) was launched in Dakar and is chaired by Babacar Ngom, CEO of Sedima Poultry Group . The objective is to boost investment with structuring and innovative projects. In addition to the boss of the SEDIMA group, the Senegalese investors’ club includes economic leaders such as Youssou Ndour (Cultural Industries and Media), Aimé Sène (Hertz Group), Alioune Ndour Diouf (Insurance), Ameth Amar (Agro -food), Victor Ndiaye (Performances Group), etc. The mission of this Economic Task Force…

In the exclusive interview given to Financial Afrik, the Director General of the National Office of Sanitation of Senegal (ONAS), Lansana Gagny Sakho, evokes the new paradigm that the continent must start by promoting autonomous sanitation. A pilot country chosen by the Bill and Melinda Gates Foundation, Senegal is testing new technologies that will emulate Mali, Côte d’Ivoire and Burkina Faso. Officials from the Bill and Melinda Gates Foundation had recently come to Senegal to find a way out of sanitation issues. What are the solutions? In fact, officials of the Bill and Melinda Gates Foundation came to Senegal as…

The President of the Republic, José Mário Vaz, has, in the afternoon, April 25, 2018, by Presidential Decree No. 9/2018, appointed the 26 members of the Government, including 18 Ministers and 8 Secretaries of State . The African Party for the Independence of Guinea and Cape Verde (PAIGC) and the Party for Social Renewal (PRS) control most of the portfolios. The big surprise of Guinean political observers is the entry into the executive of the leaders of three other parties with seats in parliament, namely Agnelo Augusto Regalla, president of Union for Change; Vicente Fernandes, President of the Party of…

Aminata Kane Ndiaye, 33, has been appointed CEO of Orange Sierra Leone replacing Sékou Dramé promoted to head the group Sonatel. A challenge for this Senegalese graduate of HEC (France) and holds an MBA at the Massachusetts Institute of Technology (USA). Perfectly bilingual, Aminata was previously the head of Orange Money’s marketing department. In Sierra Leone, it will have to put its experience capital to work to develop a subsidiary launched in October 2017 following the acquisition of Airtel by Sonatel. Since the acquisition in July 2016, the group has invested more than 30 million euros in infrastructure upgrades. A…

The African Refining Company (SAR) is the subject of lively exchanges between the now majority shareholder, Locafrique, and the Senegalese Ministry of Energy. In an interview with the daily Obs, Khadim Ba, Director General of Locafrique denies the deficit of 40 billion CFA Sar and accuses the Minister of Energy, Mansour Elimane Kane, wanting to endorse a “robbery” in within the company, the only refiner in Senegal. “It’s bad governance. The SAR is the first cash company in the country. It is 400 billion F CFA of turnover. We can NOT tell you that this structure is causing problems. Concretely,…

A new step towards the construction of a single regional financial market, in execution of the decision of the Extraordinary Session of the CEMAC Conference of Heads of State of 31 October 2017 in N’Djamena, Chad, on a single market unique finanicer. The Chairman of the Financial Market Supervisory Commission of Central Africa (COSUMAF), Mr. Nagoum YAMASSOUM and the President of the Financial Markets Commission (CMF), Mr. Jean Claude NGBWA, signed on April 11, 2018, in the premises of the Ministry of Economy, Industry and Public Portfolio of the Congo, a convention of cooperation and exchange of information. This convention…

On the sidelines of the CSR and Women’s Leadership workshop, organized on March 27 in Dakar with the Embassy of Canada and her Excellency Ms. Filiatraut and Philippe Barry President CSR Senegal, Citibank Senegal CEO Papa Sall recalled the the importance of diversity issues, the gender approach and sustainable development in the Citi Group strategy. “Indeed, at Citi, one of our strategic advantages is undoubtedly a remarkable diversity of cultures, origins and perspectives offered by our work environment with a presence in more than 100 countries. Our geographic presence and cultural diversity provide our clients with proven expertise as a…

President Denis Sassou Nguesso did not finally receive the French Minister of Finance, Bruno Le Maire, during the meeting of the franc zone held on 12 and 13 April in Brazzaville. The French money-maker contented himself with a tête-à-tête with his Congolese counterpart, Calixte Ganongo, Minister of Finance and Budget. Brazzaville was hoping for fresh...

The Portuguese construction giant Mota Engil has been attacking West Africa in recent years. Last big project to date; the imminent revival of the Dakar-Kidira railway line for a total amount of 600 million euros It is difficult to escape the yellow and blue colors of the giant Portuguese construction companies on public works sites in southern Africa in the center and west. For two and a half years, MOTA ENGIL has been working “on the body” with the Senegalese government to entrust to it the concession of two railways DAKAR-KIDIRA and Ziguinchor-TAMBACOUNDA. The gamble of the Portuguese giant is…

The altercation that occurred on March 27, 2018 in Yaoundé between the Central African Minister of Finance, Henri-Marie Dondra, and the chairman of the CEMAC commission, the Gabonese Daniel Ona Ondé, is not ready to fade. Supported by the executives of the institution, Daniel Ona Ondé continues to believe that the situation in Bangui is...