Author: Contribution

By: Dr. Mohamed H’Midouche, former senior official of the African Development Bank – Author and CEO, Inter Africa Capital Group. Context Africa is at a decisive turning point in its energy history. Endowed with over 13,000 billion cubic meters of proven natural gas reserves (about 7% of the global total) and exceptional renewable potential, the continent has the necessary assets to reconcile energy security, industrialization, and low-carbon transition. However, behind the ambitious announcements of large gas and green hydrogen projects, the reality remains mixed: many projects on the continent are still at the planning stage, lacking confirmed technical and financial…

By Denis CHEMILLIER-GENDREAU and Géraldine MERMOUX, FINACTU Group As Côte d’Ivoire approaches a new major political deadline, with the presidential election on October 25th, many commentators praise the achievements of President OUATTARA and his various governments in terms of infrastructure (nearly 2,000 km of roads rehabilitated since 2011, nearly 40,000 km of rural tracks back in service, 2,000 km of new roads, and 442 bridges and interchanges), economic dynamism (around 7% average annual growth over the period 2011-2025), and the control of key economic aggregates (inflation, budget deficit, and trade deficit under control). We could not expect less from a…

As African trade intensifies, Central Africa emerges as a key link in global exchanges. At the heart of this dynamic, Cameroon stands out for the modernization of its ports, the growth of air freight, and the strengthening of maritime security. These issues were highlighted during Africa Day 2025 at Sciences Po Paris, where experts and economic actors emphasized that the country’s competitiveness will depend on its ability to combine innovation, local anchoring, and reliability. Cameroonian ports and airports at the heart of exchanges On October 4, PortSec, a company specializing in securing critical infrastructure, participated in the second edition of…

By Mamadou Faye, General Director of BNDE / National Bank for Economic Development of Senegal. The recent decision by Moody’s to downgrade Senegal’s sovereign rating is, in many ways, unjustified and disconnected from the reality of our economic fundamentals. Our country remains strong, reform-oriented, and firmly committed to maintaining its macroeconomic balances. But beyond the technical debate, this episode should lead us to a collective reflection on our dependence on external assessments and the need for a national awakening for endogenous financing of our development. We must, more than ever, believe in our institutions, in our companies, and in our…

By Pr Amath Ndiaye, Economist, Cheikh Anta Diop University of Dakar. The statement by IMF Managing Director Kristalina Georgieva, expressing the Fund’s willingness to conclude a new program with Senegal, marks a new phase in the relationship between Dakar and the Bretton Woods institution. But this opening should not overshadow an imperative: stabilizing public finances without undermining the country’s social and political cohesion. An essential lever to be handled with caution The IMF is not a crisis exit strategy, but a stabilization lever. Its intervention aims to restore confidence, rebalance public accounts, and restore financial credibility to the country.Senegal, whose…

By Professor Amath Ndiaye, FASEG-UCAD. The BCEAO is preparing to take a historic step with the launch of the e-CFA, a fully digital version of the CFA franc. No more banknotes and coins: tomorrow, everyone will be able to use their currency directly via their phone, a card, or an application, securely. An official and secure currency Unlike cryptocurrencies like Bitcoin, the e-CFA will not be a private currency. It is an official currency, guaranteed by the Central Bank of West African States. Its value is the same as that of the current CFA franc. Every citizen, even without a…

ST Digital group is set to inaugurate its very first data center in Ivory Coast on October 2nd. The infrastructure, located in the VITIB technology free zone in Grand-Bassam, aims to be a cornerstone of the country’s digital sovereignty strategy. A local response to a continental deficit With this Tier III data center, the pan-African group aims to help bridge the continent’s gap in data hosting. In 2024, Africa accounted for only 1% of the global data center capacity, generating approximately $3.5 billion in revenue, compared to a global market estimated at $386 billion. For comparison, North America holds over…

By Serge KOUAMELAN, Executive Director APBEF-CI. Sending money from a bank to a mobile wallet, or from one telecommunication operator to another, without complications? Thanks to interoperability, the BCEAO is transforming the daily lives of millions of UEMOA citizens. A financial world in UEMOA undergoing major changes We pay our bills, make purchases, and send money in just a few clicks. But until now, each system functioned as an isolated “island.” For example, it was impossible to directly send money from a bank to a mobile money account, or from one operator to another as easily. To remove these barriers,…

By George Pavel, Managing Director of Naga.com Middle East The Gulf Cooperation Council (GCC) entered 2025 with a clearer dynamic known as the “non-oil economy driving growth alongside hydrocarbon production dual engine”: non-oil growth ensuring the majority of progress, while hydrocarbons remained limited by previously decided OPEC+ quotas. This pattern is particularly visible in the United Arab Emirates where, in the first quarter, the overall GDP grew by 3.9% year-on-year, with a 5.3% increase in the non-oil sector, which now represents 77% of the economy. Saudi Arabia and Qatar also showed strong non-oil momentum. In the second half, the negative…

By Luc Gnacadja* As world leaders gather for the New York Climate Week starting on September 22, they will have to face an undeniable truth: even if all greenhouse gas emissions were to cease today, the planet would still be on a trajectory exceeding +2°C, due to the irreversible footprint of past emissions, as recently demonstrated by James Hansen and his colleagues[1]. Adapting to climate change is no longer an option: it has become a universal necessity, especially for developing countries. In this concerning context, financing for adaptation remains fragmented, insufficient, and misaligned with the needs of the most vulnerable.…

The Osaka 2025 World Expo represents a significant milestone in Côte d’Ivoire’s international strategy. At a time when world fairs serve as platforms for nations to express their identities, the West African country has framed its participation around the promotion of heritage and cultural diplomacy. This initiative forms part of a broader dynamic epitomised by 2024, a year marked by a series of events designed to strengthen Ivorian soft power and enhance the country’s visibility on the global stage. In Côte d’Ivoire, 2024 was most notably defined by the hosting of the Africa Cup of Nations, a major organisational and…

By Djeinaba Kane, specialist in public policy and international relations As many countries strengthen their engagement with their diasporas around the world, Mauritania finds itself at a decisive moment to deepen collaboration with its citizens living abroad. Following recent directives from President Ghazwani aimed at strengthening ties with Mauritanian communities overseas and enhancing their role as partners in national development, the Ministry of Foreign Affairs announced the organization of a forum for Mauritanians abroad, scheduled to take place in Nouakchott in November 2025. This forum represents a unique opportunity to amplify the voices of Mauritanians living abroad, showcase diaspora initiatives,…

Beyond selfies and viral videos, Facebook, WhatsApp, or TikTok are becoming real tools for economic development for farmers in West Africa. In Benin and Ivory Coast, a new generation of “agripreneurs” is using social networks to increase their income, share knowledge, and conquer new markets. According to a study by Caribou Consulting, conducted with the Mastercard Foundation, this “social agriculture” already reaches millions of people. WhatsApp serves as market intelligence, allowing producers to compare prices and avoid scams. Facebook is used as a commercial showcase, TikTok as a training platform, and Instagram as a tool for promoting agricultural products. These…

In 2020, I invested five million CFA francs in two flagship stocks of the BRVM: Sonatel, the undisputed star of the regional market, and Ecobank Transnational Incorporated (ETI), once the flagship of a certain idea of ​​banking pan-Africanism. Should I keep quiet about the name of the SGI that accompanied me? Probably. Five years later,...

Par Dr Mohamed H’MIDOUCHE* Recapitalizing African financial institutions remains a major challenge. With its new mechanism, the Arab Bank for Economic Development in Africa (BADEA) offers an innovative solution that paves the way for the continent’s progressive financial autonomy. Recapitalizing African regional banks has always been a puzzle: constrained public budgets, unpaid capital subscriptions, financial institutions lacking equity. By proposing to provide concessional loans to shareholder states so they can fulfill their commitments in regional or pan-African financial institutions, BADEA has introduced a major methodological innovation. This approach allows institutions to strengthen their capital without incurring debt, while enhancing…

By Professor Amath Ndiaye, FASEG – UCAD. Africans are often told that all they need is a national currency and to “open it like a tap” to finance schools, build roads, or pay civil servants. But this is an illusion. A currency is not a magical source: if too much is created without a link to real wealth, it causes inflation and, ultimately, an economic crisis. Many believe that wealthy countries, such as the United States, Japan, or France, freely resort to printing money. In reality: Conclusion: even wealthy countries have not found a miracle in unlimited money creation. Why…

Financial column by Michael Brown, Senior Research Strategist at Pepperstone The trading week started with a mix of strength and uncertainty. Stock markets continue to rise, sovereign bonds rally, the dollar weakens, and gold, the ultimate safe haven, has just hit a new historical high above $3,600 per ounce. Everything seems aligned for a “risk-on”...

By Alpha Seydi BA, Senior Expert in Strategic Communication and Public Relations. The debate on local content in Mauritania is now part of a strategic transformation context where political will is demonstrated through the adoption of new legal and institutional instruments. The recent promulgation of Law No. 2024-045 and its implementing decree marks an undeniable turning point in the management of the country’s extractive and energy industries. The fundamental objective of this reform is to align the exploitation of natural resources with a logic of creating shared value, where the population, businesses, and local industrial fabric become the primary beneficiaries,…

By Professor Amath Ndiaye, FASEG UCAD The aim is to analyze the trade balance of ECOWAS countries and to show that external imbalances are more the result of the outward-oriented structure of economies than of fixed or flexible exchange rates. Contrasting trade balancesExamination of average data for the period 2013-2023 highlights significant differences between UEMOA and ZMOA countries (source: WDI). Exchange rate regime and trade performanceThe figures clearly show that countries with a fixed exchange rate (UEMOA) on average have less pronounced deficits than those with a floating exchange rate (ZMOA). The exchange rate pegged to the euro has helped…

By Antonio Di Giacomo,Financial markets analyst for Latin America at XS – August 28, 2025. “The S&P 500 continues to defy uncertainty and set new records, reaching the 6,500 point threshold. The rally comes in a context of high volatility, fueled by Nvidia’s recent results and the release of key economic indicators in the United States. These factors have tested the market’s resilience, which, despite some occasional declines, remains positively oriented. Since the beginning of the month, the index has risen by more than 2.5%, reflecting investors’ confidence despite mixed outlooks. The market’s strength indicates that participants continue to favor…

By Dr. Jean TCHANGAI and Franck-Fidel N’DA. -Dr. Jean TCHANGAI is Director of Commitments in a banking group, Researcher, member of CREFE and LISST – Rural Dynamics (DR). -Franck-Fidel N’DA is Partner at Forvis Mazars West and Central Africa, in charge of the Consulting service line, Former Financial Director of a banking group. Size matters… but it doesn’t tell everything. Every year, bank rankings attract a lot of attention. And often, it’s the “Total Assets” that make the headlines. The higher a bank’s Total Assets, the bigger and more powerful it appears. At first glance, it seems simple. Total Assets…

By Dr. Abdourahmane Ba, International Development Consultant, Senior Expert in Policy Evaluation, Management, and Development Strategy. In this century, Africa is faced with a choice that goes beyond simple resource questions. The minerals needed for clean energy, soils capable of ensuring food security, sun suitable for powering industry, and a vast cohort of young people exist in abundance. However, abundance without strategy offers few levers. Sovereignty stems from the ability to transform assets into power, mastery of rules, norms, and terms of trade, as well as institutions aligning public interest with private initiative. Control of value chains lies at…

By Dr. Papa Demba Thiam, International Economist, Expert in Integrated Industrial Development through Value Chains, Thielle, Switzerland. Here is a strategic mistake that should no longer be made, under penalty of falling into the poverty trap in Senegal. Analyzing the IMF’s end-of-mission statement (August 19-26, 2025) gives me the following. New farcical concepts: “Wrong statement”, “systemic problems identified in the report of the Court of Auditors” and “undisclosed liabilities”. We no longer talk about “falsified accounts” or “hidden debts”, but about “identified systemic problems”! This is a radical change in language, which reduces the problem of evaluating the stock of…

By Jean-Pierre Mfomy, former banker, compensation expert. The chronic trend of many African states to turn to external sources for financing solutions, despite the latent production capacities and untapped growth potential in their economies, raises the following issue: the need to invent an endogenous financial development solution to promote optimal economic functioning while limiting reliance on external aid and debt. “Shadow banking”, also known as “shadow finance”, offers African states a model that they can judiciously “replicate” (without necessarily breaking ties with their major partners), by combining it with compensation, in order to bypass the monetary and financial constraints imposed…

On August 20, 2025, Mali requested the regional public debt market of the UEMOA to mobilize 20 billion CFA francs. The operation, which combined Treasury bills and assimilable bonds, generated a demand of 23.09 billion CFA francs, representing a coverage of 115%. Ultimately, Bamako chose to raise 18.79 billion, below its initial target. Behind these technical figures lies a strong political and economic reality: the CFA franc and the financial integration of the UEMOA provide states with a unique lever of resilience in Africa. *Higher demand than supply* The breakdown of the instruments is revealing: T-Bills (364 days): 13.12 billion…

By Yousif Awad Ahmed Mohamed. On any given day in Africa, a young innovator is sketching the blueprint for a solution that the world has yet to imagine. In a modest workshop, a prototype is taking shape — blending local knowledge with state-of-the art technology. In a bustling marketplace, a mobile platform connects producers directly with customers, bypassing long-standing barriers. In a co-working hub, a team is refining an idea that could transform access to clean energy, finance, and education.  These are not isolated moments. They are signals of a continent in motion, driven by the creativity, ambition, and resilience of its youth.  While many regions of the world face economic strain due to aging populations, Africa’s growing youth…

Encouraging macroeconomic performance in 2024 similar to that of 2022 and 2023 Strong growth in a context of inflation deceleration Despite the security and socio-political crisis in some member states, the Russo-Ukrainian war, and the situation in the Middle East, economic activity within the Union continued its dynamism with a growth rate of 6.3% in 2024 compared to 5.2% in 2023. This strength is linked to the positive trend in activity in all sectors, especially primary and secondary, driven by a good agricultural season and the dynamism of extractive activities. The Union’s average annual inflation rate decelerated to 3.5% in…

By Dr. Mohamed H’MIDOUCHEHonorary Consul of the Republic of Cape Verde to the Kingdom of Morocco. On July 5, 2025, marks a historic moment for the Republic of Cape Verde: the fiftieth anniversary of its independence. As Honorary Consul of Cape Verde in Morocco, I wish, on this solemn occasion, to extend my warmest congratulations to the Cape Verdean people, as well as to all its past and present leaders, for this half-century of independence marked by progress, peace, and institutional maturity. Since 1975, Cape Verde has overcome the challenges related to its island geography, the scarcity of its…

By Ndongo Samba Sylla and Peter Doyle. In early November 2024, we raised the alarm that the IMF forecast for inflation in Senegal was completely nonsensical. In its flagship global publication, the WEO published in October 2024, the IMF predicted that 12- month inflation in Senegal in December 2025 would be -13.4 percent and a year later 41.9 percent. There was no foundation to those forecasts. And indeed, 12-month inflation in Senegal in December 2024 was 0.8 percent, confirming if such were necessary that the IMF forecasts were way off track. We indicated at the time that this episode reflected…

Upon the launch of AFD’s “Economic Outlook 2025,” Financial Afrik had an extensive conversation with Rémy Rioux, the head of AFD Group, which includes the public bank, its subsidiary Proparco for the private sector, and Expertise France. With its novel structure and new funding mixes, it achieved a record year in 2024 on the continent with 5.5 billion euros committed out of 13 billion globally. Key findings from the study include the resilience of African economies after the COVID shock, growth prospects of 4% in 2025 (identical to Asia), and a debt ratio that has doubled from 30% to 60%…