Author: Contribution

By Professor Amath Ndiaye, FASEG-UCAD There is much talk of the “March Wall” to describe the significant debt deadlines that Senegal must face. In reality, this image is misleading. It is not a single obstacle. The current management of public debt more closely resembles a 400-meter hurdle race run over several laps, where each quarter represents a significant financial hurdle to overcome. In 2026, the total debt service is estimated at nearly 5,500 billion CFA francs. This burden is spread throughout the year, in the form of successive deadlines that keep the public treasury under constant pressure. First quarter: around…

INVESTING IN WOMEN IS BUILDING THE CAMEROON AND AFRICA OF TOMORROW Afriland First Bank’s vision for the economic empowerment of women Every March 8, the world pauses for a moment to celebrate women. Beyond flowers and speeches, this day should be an opportunity for sincere and measurable commitment. In Central Africa where women represent nearly 52% of the population and are the backbone of the informal economy, the issue is no longer whether we should act, but how we should accelerate social inclusion. At Afriland First Bank, we have made a strategic choice: the economic empowerment of women is not…

By Demba Moussa Dembélé Since the discovery of the hidden debt left by the regime of Macky Sall, Senegal has been caught between the International Monetary Fund (IMF) and major Western rating agencies. This has resulted in the suspension of disbursements from the IMF and the downgrading of the country’s sovereign rating. To loosen the grip, some “experts” claim that the regime has no choice but to sign an agreement with the IMF, which calls for the restructuring of the country’s external debt. Negotiating with the IMF: At What Cost? But it’s not just the “experts” who think this way.…

By Jérémie Wakilongo* As tensions between Iran, the United States, and Israel reach a climax on March 4, 2026, the world is no longer content to observe the risk of a military conflagration; it is witnessing the doctrinal collapse of the multilateral order born in 1945. By refusing to provide a diplomatic “way out” to Tehran, Western strategy of asphyxiation is breaking the very tool of global stability: the United Nations. The paradox of the cornered rat: the failure of strategic planning In military strategy, Sun Tzu already taught that one should never completely block an enemy’s way out, lest…

In a context of accelerated ecological and social transition, Africa finds itself at a crossroads. The needs for infrastructure – energy, transportation, water, telecommunications, responsible mining – are immense, estimated at over $130 billion per year. Yet, a significant portion of these projects struggle to achieve the bankability required to attract international financing. The reason is well known: the gap between global ESG standards and local operational capacities. Faced with this reality, a pragmatic response is necessary: the generalization of so-called “light” ESG frameworks. These proportionate, voluntary, and evolving mechanisms allow for the anchoring of ESG culture from the outset…

By Loïc MPanjo Essembe On March 13, 2026, Senegal will have to honor €333.3 million — equivalent to 219 billion CFA francs — for the eurobonds issued in March 2018. Including principal and interest, the total amount owed to bondholders amounts to $485 million, as confirmed by Reuters and Bloomberg on February 17. The Treasury has raised 510 billion CFA francs on the UEMOA regional market since the beginning of the year. The payment will be made. However, paying in March does not solve the issue for 2026. The total financing needs of the state for the year amount to…

Professor Amath Ndiaye’s Tribune, FASEG-UCAD. The statement released on February 8, 2026, following the statutory meetings of the Economic Community of West African States (ECOWAS) in Monrovia once again confirms the failure of the strategy adopted for the creation of the West African single currency, the ECO. After more than twenty years of announcements, successive timelines, and repeated delays, the reality is clear: the approach based on the prior respect of macroeconomic convergence criteria does not lead to the creation of a single currency in West Africa. This does not mean that the ECO is an unrealistic ambition. On the…

By Fernand Dagoudo, Risk Management, Internal Control, and Compliance Professional. The international anti-corruption organization Transparency International released on February 10, 2026, its Corruption Perceptions Index (CPI) ranking, placing Benin in 8th position in Sub-Saharan Africa and 70th globally with a score of 45 out of 100, identical to that of 2024. This result is in line with the reforms carried out by President Patrice Talon over the past decade, but it also indicates a gap between the actions taken and their recognition in the evaluation by the international organization. Stability that resembles more of a transition phase than a halt…

By Rostand CHOUATAT DANTSE, Systemic Analyst, Heterodox Economist, Expert in frugal innovations for Africa. Rethinking the CFA from its undeniably African DNA Prologue The end of economic innocence Long before the advent of modern currencies, banks, and financial markets, African societies had fully functional economic systems organized around relationships, redistribution, and social recognition. Exchange was first and foremost a mechanism of connection; work produced a sense of belonging; wealth was demonstrated by the ability to redistribute rather than accumulate. Value was based on a form of social energy: relational density, human strength, and community continuity. Money—when it existed—was not an…

By Thierno Seydou Nourou SY, Banker, President and Founder of Nourou Financial Consulting (NFC) Dakar-Senegal As international banking regulation enters a new phase with the finalization of Basel III – often referred to as “Basel 4” by practitioners –, countries in the West African Economic and Monetary Union (UEMOA) are faced with a strategic question: is it appropriate to further strengthen prudential requirements in a region where the banking system is already strong, while the need for financing the real economy remains significant? Contrary to popular belief, “Basel 4” is not a new international agreement. It is the latest stage…

By Seynabou Dia Sall*, Founder & CEO, Global Mind Consulting, Strategic Advisory & Public Affairs. Africa – Europe – Middle East. Africa is not only evaluated on its economic performance. It is equally judged on how these performances are perceived, interpreted, and translated into trust. This perception directly influences the cost of capital, investment decisions, institutional credibility, and ultimately, the maneuvering room of states. Mastering its narrative is therefore not a luxury or an exercise in image. It is a major economic and strategic issue, at the heart of the competitiveness and sovereignty of the continent. In my work with…

By Dr. Abderrahmane Mebtoul, University Professor, international expert in strategic management The tensions between the United States and Iran, both members of the BRICS+ and the Shanghai Cooperation Organization (SCO) — two cosmopolitan groupings bringing together heterogeneous political regimes and strategic alliances — clearly show that the current and likely future architecture of international relations is based not on feelings, but on interests. The recent experience of Venezuela is a striking illustration of this. In this context, the UN appears largely powerless to influence major contemporary world events, often limiting itself to verbal condemnations with limited effects, underpinned by implicit…

Family businesses are the backbone of our economies, generating nearly 70% of the continent’s GDP. However, only a minority of them survive beyond the second generation. When these businesses collapse, the consequences extend far beyond the family realm: jobs disappear, supply chains weaken, and local economies lose essential stabilizing forces. This vulnerability is not inevitable. It is the direct result of two chronic weaknesses that continue to undermine family businesses across the continent: poorly structured governance and the lack of succession planning. As long as these flaws are not addressed, Africa risks facing further business losses. For example, the downfall…

By Benoit S NGOM, President of the African Diplomatic Academy. The year 2026 must be solemnly celebrated as marking the 40th anniversary of the entry into force of the African Charter on Human and Peoples’ Rights, which occurred in October 1986. This anniversary is a moment of memory, but above all of critical reflection on the African trajectory in terms of promoting and protecting human rights. Indeed, by adopting this fundamental legal instrument, Africa asserted, as early as the mid-1980s, to the world that it was fully sensitive to the issue of human rights, while claiming the right to offer…

In a context where economic relations between Africa and Europe are scrutinized in terms of demand, sustainability, and transparency, Note 35 of SYSCOHADA could well constitute a silent revolution. Still largely unknown, not public and not published, this too discreet specific and unique provision paves the way for a real African extra-financial reporting, focused on environmental, social, and governance (ESG) issues. However, in a world where investors, regulators, and economic partners demand more transparency, Africa has here a leading normative weapon that the African Union should even seize by generalizing it!!! A unique African proprietary tool to reduce information asymmetry…

By Charles Blondin Since the military junta took power following the Z generation protests in Madagascar, a hardening of the political climate has occurred in recent months. Contrary to a peaceful political transition, the government seems to have embarked on a palace revolution that could harm the interests of the Malagasy people in the long term. In the fall of 2026, protests by the Z generation (Gen Z) erupted on the red island. Denouncing water and electricity distribution issues, the population took to the streets at the urging of opposition members of the Antananarivo Municipal Council, the capital of Madagascar.…

Why do we accept the rule… and why does its transgression shock us so much? By Idrissa Diabira, Founder Sherpafrica The Senegal-Morocco final not only aroused sporting emotions. It provoked a deeper, almost collective disturbance. What unfolded in Rabat went beyond the score and referee decisions to touch on something much more fundamental: our relationship to the rule, order, justice, and legitimacy of contestation. Organizational sociology reminds us of an often forgotten truth: the rule is never neutral. As Michel Crozier and Erhard Friedberg have shown, it is not simply a tool designed to discipline behavior or resolve conflicts. It…

By Thierno Seydou Nourou SY President and Founder of Nourou Financial Consulting (NFC) – Dakar, Senegal www.nouroufinancial.com For decades, the Senegalese peanut sector has been evolving in an almost immutable cycle: produce, collect, store, arbitrate in urgency, and repeat. This system, inherited from a time when the state structured the entire value chain, is now running out of steam. The question is no longer who should buy the peanuts, but how to transform them sustainably into economic, social, industrial, and environmental value. A historically integrated sector, now fragmented The creation of ONCAD, then SONACOS, was based on a systemic vision:…

By Prof. Amath NDIAYE, FASEG-UCAD. In the UEMOA, the question of bank liquidity is often mentioned without being clearly explained. However, the figures for the third quarter of 2025 provide a central lesson: banks in the region are structurally dependent on the Central Bank, and this dependence is closely linked to the financing of state budget deficits. Bank liquidity refers to the ability of banks to meet their immediate obligations: withdrawals by depositors, interbank payments, settlements with the State, and normal credit granting. It is, in a way, the daily fuel of the banking system. A bank can be financially…

By Pr Amath Ndiaye, FASEG-UCAD. The public debate in Africa often attributes to the CFA Franc (FCFA) the responsibility for underdevelopment and the maintenance of many African countries in the category of Least Developed Countries (LDCs). However, a factual analysis of United Nations data shows that this accusation does not hold up to scrutiny. According to the official list of LDCs established by the United Nations for the year 2024, Africa has 32 LDCs. Among them, only 10 countries belong to the CFA Franc zone, representing 31.25%. And if we exclude Senegal, which has been engaged in a process of…

By Prof. Amath Ndiaye, FASEG-UCAD. The African public debate often attributes to the CFA Franc (FCFA) the responsibility for underdevelopment and the maintenance of many African countries in the Least Developed Countries (LDC) category. However, a factual analysis of United Nations data shows that this accusation does not hold up to scrutiny. According to the official list of LDC established by the United Nations for the year 2024, Africa has 32 LDC. Among them, only 10 countries belong to the CFA Franc zone, which is 31.25%. And if we exclude Senegal, which has been engaged in a process of exiting…

By Abderrahmane Mebtoul, University Professor, international expert accountant from the Higher Institute of Management in Lille, France, Doctor of Economics

By Abderrahmane Mebtoul, University Professor, international expert accountant at the Higher Institute of Management in Lille, France, Doctor of Economics

By Thierno Seydou Nourou SY, President and Founder of Nourou Financial Consulting (NFC) Dakar-Senegal. Despite a satisfactory evolution of the main indicators of the microfinance sector in the WAEMU over the past two (2) decades, marked notably by a predominance of large institutions representing nearly 90% of the sector’s assets by the end of 2024, a significant portion of our population, especially the most vulnerable groups, remains excluded from access to financial services. The promotion of a new type of microfinance institution called Participatory Microfinance Cooperative Companies (SCMP) could be a relevant first step in addressing this issue. For two…

By Fatimetou Mint BOUTEBIB, PhD in Law. Today, we are witnessing a radical transition towards renewable energies worldwide, where green hydrogen is one of the most promising solutions contributing to environmental sustainability and carbon emissions reduction. It is in this context that Mauritania has taken the lead in Africa by enacting its Green Hydrogen Code, which aims to regulate the sector, attract investments, and ensure sustainable development based on clean energy sources. Green hydrogen is a key pillar of Mauritania’s strategy to achieve an inclusive and sustainable energy transition, as it is produced from renewable sources, making it an environmentally…

By Mr. Raphaël Nkolwoudou Afane Doctor of Law, Legal Tech Specialist and Legal Ops Officer In Africa, mobile phones are more than just communication tools: they have become the digital wallets of hundreds of millions of people. With over a billion active mobile money accounts since the advent of MPesa in Kenya – by Safaricom,...

For decades, the economic history of Africa has been characterized by a repetitive scenario: exporting raw materials, importing finished products, leading to a constant imbalance in the trade balance. In collaboration with public authorities, Afreximbank and its industrialization partner Arise IIP are contributing to the development of industrial zones that promote the flow of value-added products that transform Africa’s contribution to international trade. The development of these industrial zones is based on the availability of raw materials and the significant technological advancements that the African continent can leverage to accelerate its industrial transformation and create a different economic experience. One…

By Thierno Seydou Nourou SY, Banker, Founder of Nourou Financial Consulting (NFC) Dakar- Senegal. Senegal is going through a complex economic period, characterized by high public debt (nearly 110% of GDP), persistent twin deficits (Budget deficit forecasted at 7.1% of GDP in 2025 and current account deficit between 12% and 14% in 2025), and eroded partner confidence. Yet paradoxically, the country has considerable assets: natural resources (oil, gas, minerals), a young population, a dynamic diaspora, and ambitious vision plans (SND 2025-2029, Vision 2050). The central question is not one of lack of vision, but one of financing and execution means.In…

By Yasmine Aboubacar Sedikhe SY* A continent in motion, elites out of sync? Africa is going through a phase of transformation of an intensity rarely seen in its contemporary history. Data from the African Development Bank (AfDB, African Economic Outlook 2024) indicates that six of the ten fastest-growing economies in 2024 are African. At the same time, demographic projections from the United Nations (World Population Prospects 2022, United Nations Department of Economic and Social Affairs) predict a continent that will have nearly 2.5 billion inhabitants by 2050, with around 60% being under the age of 25. This dynamic creates an…

Dr. Laëtitia MAKITA-NGADI, Founder & CEO SEMEN AFRICA Consulting, Initiator of the Summit on Investments in Health Systems in Africa (SISSA) Within the Central African Economic and Monetary Community (CEMAC), the high number of medical evacuations abroad is no longer just a symptom of fragility: it now embodies a true financial hemorrhage and a revealer of systemic dependence. Member states, already weakened by chronic budget deficits and debt sometimes exceeding 70% of the annual GDP, a threshold set by Regulation No. 12/07-UEAC-186-CM-15, see their foreign exchange reserves evaporate to cover external care. This currency drain is not just a budget…