Author: Contribution

By Aboubakr Kaira Barry, CFA, Managing Director, Results Associates, and Chair, Omou Financial Literacy Center, Bethesda, Maryland, USA BusinessDay carried a story on August 24 raising fresh questions about the $5 billion Total Return Swap (TRS) the National Assembly approved on March 31, 2026 — a facility now being drawn in tranches. The paper quoted Dele Oye, chairman of the Alliance for Economic Research and Ethics Ltd/GTE, saying the government needs to be far more transparent about the terms of the deal and how the proceeds are being spent. As of now, Abuja still hasn’t published a term sheet or…

Gregory P. Tosi, a lawyer in Washington, D.C., and former legal advisor to the U.S. House of Representatives and Senate, believes that the extension granted to the AGOA (African Growth and Opportunity Act), a U.S. trade law that allows eligible sub-Saharan African countries to export products to the U.S. market duty-free, should not be wasted. While the U.S. Senate has voted to extend the program for three years, the author urges African governments to take the initiative and present a concrete proposal for a permanent trade framework between the United States and Africa, based on reciprocity, critical minerals, and the…

By KONÉ Péléni Jonathan Aimé, PhD in private law, specialist in banking law, credit law, and consumer law. Temporary teaching and research assistant (ATER), Toulouse Capitole University – Business Law Center. Independent consultant. The rapid rise of cryptoassets is one of the most significant changes in contemporary financial architecture. Born from the convergence of cryptography and distributed ledger technologies, these instruments deeply question the traditional foundations of currency, banking intermediation, and prudential regulation. In the West African Economic and Monetary Union (UEMOA), this dynamic takes on a particular dimension. As an integrated monetary zone, sharing a common currency – the…

By Lansana Gagny SAKHO Adm.A, C.M.C The recent increase in fuel prices in Senegal has reopened a debate that cyclically resurfaces in our public space: could we not do things differently? Could we reduce taxes, contain subsidies, maintain artificially low prices to preserve the purchasing power of households? These questions are legitimate in their social concern. They become intellectually problematicwhen formulated without answering the fundamental question they inevitably raise: who will pay the difference? After nearly a decade at the heart of the Senegalese state, arbitrating real budget constraints and managing public institutions under financial pressure, I can say one thing with the…

What twenty-eight years in telecoms, postal services, and payments have taught me about the Africa we are building I remember the silence in the room. I said this almost spontaneously, in front of an international audience that, once again, was measuring our African postal services against the giants of global logistics. “Don’t ask us to be Amazon here in Africa.” It was neither a confession of weakness nor a surrender. It was the opposite: the calm assertion of our own path. Since then, this phrase has stuck with me. It is quoted to me, challenged, demanded. Despite myself, it has…

By Soukeyna LY, Energy Engineer and Macroeconomist, Founder of the think tank PRONA FUTURES. Montreal, August 18, 2026 When oil becomes more expensive on international markets, the increase eventually makes itself felt. The State absorbs part of it through subsidies; companies, through the increase in their costs; and households, through their daily expenses. The recent increase in fuel prices in Senegal must be understood in light of this reality. The debate is therefore not only about a few more francs at the pump. It raises a more fundamental question: who will bear this increase? The State, companies, or households? Since…

By Emmanuel LoWilla*, President of the East Africa Caucus of the Pan-African Parliament Rio Tinto left Bougainville unrepaired for thirty-seven years. The same pattern is unfolding in Madagascar and may now threaten Guinea and Mozambique as well. In 1989, a mine on the island of Bougainville in Papua New Guinea stopped work. Rio Tinto had been extracting copper and gold there for seventeen years, and close to a billion tonnes of waste had entered the rivers. The landowners rose against it. What followed was a civil war that killed thousands. Rio Tinto never returned. In 2016 it handed over its…

By Aboubakr Kaira Barry, CFA, Managing Director, Results Associates and Chair of the Omou Financial Literacy Center, Bethesda, Maryland, United States The IMF’s 2026 Article IV consultation on Nigeria includes a dedicated annex on the rapid spread of cryptocurrencies in the country. Between July 2023 and June 2024, Nigeria received approximately $59 billion in crypto-asset value, according to Chainalysis data cited by the IMF. Stablecoins accounted for more than 65 percent of crypto inflows in 2024, and Nigeria represented around 60 percent of all stablecoin inflows into Sub-Saharan Africa between late 2019 and early 2025. What Are Stablecoins? Stablecoins…

By Prof. Abderrahmane Mebtoul, university professor, international expert, Doctor of Strategic Management. Published on August 15, 2026, the Shanghai Academic Ranking of World Universities (ARWU) offers a new snapshot of the international hierarchy of knowledge. Beyond the ranking of institutions, this edition highlights a fundamental reality: in an increasingly knowledge-based global economy, research, innovation, and human capital are now essential determinants of a nation’s power. According to the United Nations and the World Bank, good governance is based on five pillars: the rule of law, transparency, accountability, participation, and the effectiveness of institutions. But governance, important as it may be,…

By Dr. Mohamed H’MIDOUCHE* The tragedy of Ceuta prohibits reducing migration to border control alone. It requires Morocco, Spain, and Europe to protect lives, organize mobility, and offer young people credible prospects in their country. Our youth is not a threat to be contained: it is the primary capital of Morocco and Africa. On August 14, 2026, a national holiday throughout the Cherifian Kingdom, the 47th anniversary of the recovery of Oued Eddahab provides an opportunity to calmly revisit the migration crisis of July 30 and 31 in Ceuta. On August 2, the Moroccan Ministry of the Interior reported 40,000…

By Yves Daniel Adoum, Foundation for Innovation in Democracy Since 1999, International Youth Day has been celebrated every August 12th. A day that highlights the challenges and role of young people in society. This year’s edition coincides with the holding a few days earlier of the inaugural session of the Pan-African Youth Parliament for Democracy with a stated goal: to no longer let democratic decisions be made without them. From August 3 to 5, the inaugural session of the Pan-African Youth Parliament for Democracy was held in Accra. The event was co-organized by the Foundation for Innovation in Democracy, at…

By Diallo Safayiou And since everyone is talking about it, let’s not give Mr. Everybody’s answer. For us, it is important that our country, through the Central Bank of the Republic of Guinea (BCRG), manages to respect the commitments made at the level of the West African sub-region, with a view to a possible monetary union. But meeting convergence criteria does not mean blindly adhering to a project whose implications for the Guinean economy are largely underestimated in public discourse. A lesson not to forget: the previous CFA franc In our humble opinion, this monetary integration project should be publicly…

By Christian Kazumba* In the DRC, a digital tax suspended after twelve days of protest. A symptom of a larger problem: often, on the continent, governments choose the quickest fiscal solution rather than the most effective one. On July 20, 2026, the Democratic Republic of Congo signed a decree introducing new taxes on digital activities: up to $100,000 for certain categories of services and $5,000 for the authorization to operate fintechs or online banks. The objective, legitimate a priori, was clear: to increase state revenues. Twelve days later, a massive protest from the local ecosystem led to the suspension of…

By Mohamed Souleymane, former Secretary General of the Association of Mayors of Northern Mauritania. The incident that occurred in Dakar during the presentation of the book “Moroccan Sahara: Geopolitical Stakes of a Major Issue for Morocco” was not just a controversy between diplomats. It revealed a difficulty: that of distinguishing the memory of civilizations from the sovereignty of states. Cheikh Tidiane Gadio is an experienced diplomat, a talented speaker, and a man with longstanding ties to Mauritania. His esteem for the maraboutic family of Ahmed ben Mohamed Al-Aqil, his role in Mauritanian mediations, and his knowledge of regional balances are…

How Africa finances, every year, the mistake of those who rate it By Junior Mbuyi Kanganga, Founder & CEO of JPG Consulting Partners Group, President of Africa Risk – Strategic Institute for African Sovereignty & Transformation. Op-ed based on the author’s work and upcoming essay, From Chaos to Prosperity: Towards an African Revolution?(L’Harmattan Editions, September 2026, foreword by Dr. Cheikh Tidiane Gadio). The world we thought was stable is completing its dissolution before our eyes. Washington is breaking with its own multilateral dogmas, Beijing is advancing its pieces on critical infrastructure and minerals, Moscow is playing the diplomatic balancing act, and…

By Professor Amath Ndiaye, FASEG-UCAD The latest data from the UNCTAD’s World Investment Report 2026 highlights a dramatic reversal of foreign direct investments (FDI) in Senegal. After several years of exceptionally high flows, FDI sharply contracted in 2025. According to UNCTAD, FDI inflows were: – 2020: $1.846 billion; – 2021: $2.588 billion; – 2022: $2.929 billion; – 2023: $4.790 billion; – 2024: $3.319 billion; – 2025: only $337 million. Between 2020 and 2024, Senegal attracted $15.472 billion in FDI, averaging $3.094 billion annually. The country had never seen such a level of foreign investment before. This performance is mainly explained…

In this op-ed, Damilola Ogunbiyi, CEO of Sustainable Energy for All and Special Representative of the UN Secretary-General for Sustainable Energy, and David McNair, Executive Director of Global Policy and Strategy at ONE, argue a simple idea: resilience is no longer just a development goal, but a condition for economic security for both Africa and Europe. Faced with geopolitical, climate, and financial shocks, they advocate for reforming development financing to accelerate investments in clean energy, resilient infrastructure, and sustainable industrialization. As tensions escalate in the Gulf and uncertainties surrounding the Strait of Hormuz shake global markets, Africa and Europe once…

By Laurent CAIZERGUES* An entrepreneurial heritage is not only judged by its value or its performance. It must be able to absorb a decrease in dividends, a currency shock, the founder’s incapacity, or the exit of a shareholder without selling the strategic asset in urgency. African family fortunes are often concentrated in the business, real estate, and unlisted investments. This structure generates long-term value, but makes liquidity, currencies, and governance more crucial than the performance of an isolated portfolio. Therefore, the right diagnosis consists of subjecting the heritage to rupture scenarios. 1. Liquidity test What needs to be covered if…

Prof. Amath Ndiaye, FASEG-UCAD The latest data from the UNCTAD’s World Investment Report 2026 highlights a spectacular reversal of foreign direct investments (FDI) in Senegal. After several years of exceptionally high flows, FDI sharply contracted in 2025. According to UNCTAD, FDI inflows were: – 2020: $1.846 billion; – 2021: $2.588 billion; – 2022: $2.929 billion; – 2023: $4.790 billion; – 2024: $3.319 billion; – 2025: only $337 million. Between 2020 and 2024, Senegal attracted a total of $15.472 billion in FDI, with an average annual of $3.094 billion. The country had never experienced such a high level of foreign investments.…

Since June 1, 2026, a new legal ceiling regulates the cost of credit in the eight states of the West African Economic and Monetary Union. By Decision No. 19/29-12-2025/CM/UMOA, signed in Cotonou on December 29, 2025 under the presidency of Aboubakar Nacanabo, the Council of Ministers of the Union redefined the usury rate applicable to credit operations: 14% for banks, down from 15% previously, and 24% for credit financial institutions and decentralized financial systems (DFS). Presented from a strictly numerical perspective, the evolution may seem technical. However, it has direct consequences on access to credit, bank pricing, and consumer protection…

By Aboubakr Kaira Barry, CFA, Managing Director, Results Associates, and Chair of the Omou Financial Literacy Center Every year, Sierra Leoneans watch prices climb. The Leone weakens. Government debt grows. Roads, schools, and hospitals barely improve. This isn’t bad luck. It’s the predictable result of two decisions, repeated year after year. Government creates too much money. It also takes on debt that too often isn’t matched by investment. What is “broad money,” and why does it matter? Broad money is the total money circulating in an economy — cash plus savings and checking account balances. Sometimes the central bank or…

By Eric Topona Mohamed Bazoum was the 10th president of Niger, in office from April 2, 2021 to July 26, 2023, when he was overthrown by a military coup led by General Abdourahamane Tiani. Three years after his fall, he is still detained with his wife, Hadiza Ben Mabrouk Bazoum, within the premises of the presidency in Niamey. Several international organizations, including ECOWAS, UN bodies, the European Parliament, and Human Rights Watch, are calling for his release. Eric Topona. On March 21, 2021, Niger closed a political chapter that was hailed throughout Africa and beyond its borders. Following a democratic…

In this op-ed, Gregory P. Tosi, a lawyer based in Washington and former legal advisor to the United States Congress, argues for enhanced coordination between the DRC, Angola, and Zambia around the Lobito corridor. According to him, the success of this strategic project will depend not only on infrastructure, but also on a common economic diplomacy capable of presenting a coherent African vision of development, investment, and industrialization in Washington. The Lobito corridor has entered a decisive phase. Rehabilitation and investments continue along the Angolan railway network, while planned and ongoing connections with the Democratic Republic of Congo (DRC) and…

In this opinion piece, Louis Marie Kakdeu analyzes the contradictions of the Cameroonian car market, marked by the obsolescence of the fleet and the persistent weight of used vehicles. While recent Chinese cars are offered at competitive prices on the international market, their access to Cameroon is indeed hindered by import costs and customs constraints. The author highlights the consequences of this situation on road safety, the environment, household expenses, and the national economy. He argues for a broader reflection on the renewal of the car fleet and the reforms to be undertaken. By Louis Marie Kakdeu, MPA, PhD &…

In this opinion piece, Louis Marie Kakdeu analyzes the contradictions of the Cameroonian automobile market, marked by the obsolescence of the fleet and the persistent weight of used vehicles. While recent Chinese cars are offered at competitive prices on the international market, their access to Cameroon is indeed hindered by import costs and customs constraints. The author highlights the consequences of this situation on road safety, the environment, household expenses, and the national economy. He argues for a broader reflection on the renewal of the automotive fleet and the reforms to be undertaken. By Louis Marie Kakdeu, MPA, PhD &…

“At a time when Africa is seeking its place in global governance of artificial intelligence, the question of digital sovereignty cannot be limited to political declarations or major international summits. For Kuate Joël Parfait, engineer, entrepreneur, and author, this sovereignty is first and foremost played out on the ground, in SMEs, local skills, and practical uses of technology. Contrary to purely institutional approaches, this article defends a pragmatic vision: it is through training, productive investment, and the adoption of AI by small businesses that Africa can become a full-fledged player in the digital world.” By Kuate Joël Parfait* In a…

“In the Democratic Republic of Congo as elsewhere in Africa, the question is not about choosing between national sovereignty and economic attractiveness, but about defining the conditions for their coexistence, according to the author. The recent statements by President Félix Tshisekedi on mining taxation illustrate this central tension. A strong state is not one that discourages investment, he says, but one that imposes stable, predictable rules that are respected by all.” By Gregory P. Tosi Recent developments in Kinshasa highlight one of the most complex governance challenges in contemporary Africa. On July 13, 2026, President Félix Tshisekedi instructed state collection…

When words replace action and discourse serves as economic strategy By Lansana Gagny SAKHO Adm.A, C.M.C, As I participate in Senegalese economic debates, I often observe a phenomenon that twenty years of institutional experience have not made commonplace: the moment when some academics, rich in theoretical knowledge but disconnected from economic realities, utter the words sovereignty or patriotism, and the audience rises, applauds, approves without ever questioning what these words actually mean in a country with a public debt approaching 26,000 billion FCFA, a suspended IMF program, and a struggling private sector. These words have an immediate, almost physiological effect.…

By Aboubakr Kaira Barry, CFA, Managing Director of Results Associates, and President of the Omou Center for Financial Education, Bethesda, Maryland, United States Economists explain the dominance of the dollar by the depth of the American capital markets, network effects, and the credibility of institutions. A fourth pillar, equally important, is rarely mentioned: the eurodollar market. This is the vast reservoir of U.S. dollars held and lent outside the United States, beyond the reach of the Fed. It is arguably the most underestimated factor in the supremacy of the dollar, with real lessons for Africa. Bretton Woods and the Triffin…

By Professor Abderrahmane MebtoulUniversity Professor, State Doctor, International Expert The war that now openly opposes Iran to the United States and their regional allies has entered, since mid-July 2026, into a phase of unprecedented gravity. After strikes targeting military, nuclear, and oil installations, a new strategic threshold is crossed: attacks on seawater desalination infrastructure, the true backbone of survival for the Gulf States. The risk no longer lies solely in a surge in oil prices or a disruption of global energy flows. It now touches on a much more vital resource: water. While the Strait of Hormuz, through which nearly…