Author: Dominique Mabika

El Amana Takaful has officially announced the change of its commercial name. Since January 1, 2026, the company operates under the name “Al Baraka Assurances”. This decision, made following its General Assembly held on November 28, 2025, is part of its strategic integration within the Al Baraka Group, which has become the majority shareholder of...

Algeria’s national insurance market maintained solid growth momentum over the first nine months of 2025. According to data released by the Conseil national des assurances (CNA), total sector output reached 142.9 billion Algerian dinars between January and September 2025 (approximately USD 1.06 billion), marking a 7.3% increase compared with the same period in 2024. The...

Remittances sent home by Egyptians living abroad recorded a sharp acceleration in 2025, reaffirming their central role in financing the national economy. According to a statement released on Monday, January 5, by the Central Bank of Egypt, these financial inflows increased by 42.5% over the first eleven months of the year, reaching approximately $37.5 billion,...

In the DRC, $58 million USD were paid out in compensations to victims in 2024, compared to $2 million USD in 2018, according to data released on December 27, 2025 by the Insurance Regulatory and Control Authority (ARCA). According to the 2023-2024 report on the state of the insurance market, compensations only amounted to $2 million in 2018. In 2024, out of a volume of $377 million in premiums and contracts subscribed, $58 million were actually paid out to victims, “evidence that the compensation mechanism is now working,” said Alain Kaninda Ngalula, CEO of ARCA. This progress, he also explained,…

under the auspices of the National Payment Committee (CMN), the Professional Association of Banks and Financial Institutions of Senegal (APBEF), and the Interbank Payment Group (GIM-UMOA), the first edition of the National Payment Salon was held on December 10 and 11 in Dakar. Under the theme: “Digital payments and financial inclusion: Issue of monetary sovereignty in West Africa”, this meeting brought together banks, fintechs, payment operators, regulators, public institutions, and the general public. Several actors also showcased their solutions at the stands. On this occasion, Financial Afrik met with the exhibitors to better understand their activities and gather their impressions.

With more than 53% of the population now covered, compared to only 10% ten years ago, and more than 70% of women among the insured, mainly in rural areas, Senegal continues to progress towards universal health coverage. The country aims to reach 75% coverage by 2029 to ensure equitable access to care across the entire...

The first edition of the National Electronic Payment Fair opened on Wednesday, December 5 in Dakar, under the theme: “Digital Payments and Financial Inclusion: A Challenge for Monetary Sovereignty in West Africa.” Organized jointly by the National Electronic Payment Committee (CMN), the Professional Association of Banks and Financial Institutions of Senegal (APBEF) and the Interbank...

The Moroccan leader in insurance continues its ascent. Under the leadership of Boubker Jaï, Chairman and CEO of the Group, Wafa Assurance has reported a consolidated revenue of 10.919 billion dirhams — equivalent to $1.2 billion — for the first nine months of 2025, an increase of 7.6%. This symbolic milestone confirms the Group’s growth,...

Caarama Assurance, a subsidiary of CAAR and a player in personal insurance in Algeria, continues its technological shift. Its general manager, Mounir Ghernouti, announced on December 2 in Algiers that online claims declaration will be fully operational and accessible to all policyholders from 2026. “This digital solution was designed to offer simplicity, speed, and transparency...

A decision explained by strong growth and a significant decrease in inflation The Monetary Policy Committee of the Central Bank of West African States (BCEAO), meeting on December 3, 2025, decided to maintain the current direction of its monetary policy. The main key interest rate at which the central bank refinances banking institutions remains at 3.25%, while the marginal lending facility interest rate remains at 5.25%, a level in effect since June 16, 2025. The reserve requirement ratio applicable to banks in the Union is also maintained at 3%. These decisions are based on the analysis of recent economic conditions:…

The Agency for the Development and Supervision of Small and Medium Enterprises (ADEPME) launched a workshop for media professionals on Tuesday, November 18th in Dakar. This meeting aims to present the institution, its 2025-2029 strategy, its missions, and the impact results recorded in recent years. Discussions focused on several areas: raising awareness about the challenges...

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the only Sharia-compliant multilateral insurance company and a member of the Islamic Development Bank Group, and the African Export-Import Bank (Afreximbank) have signed a memorandum of understanding to strengthen their collaboration in support of trade and investments between Arab and African countries. The...

In a new report dated November 10, 2025, the international rating agency AM Best highlights that the results of the National Insurance Company (SAA), the public insurer, are mainly driven by strong investment income. It confirms its financial strength rating at “B” (Satisfactory) and the long-term issuer credit rating at “bb+” (Satisfactory), both with stable...

The National Savings and Insurance Fund (CNEP-Bank) and Cash Assurances have signed a strategic partnership aimed at promoting the marketing of insurance products related to real estate risks. The objective is to strengthen the protection of real estate assets, facilitate access to insurance services, and support financial inclusion, in line with the national strategy to...

Vicenne, a Moroccan company specializing in medical equipment and technological solutions for the healthcare sector in Morocco and French-speaking Africa, achieved a consolidated turnover of 696 million dirhams (approximately 75.2 million USD) in the first nine months of 2025, up 25% from the 557 million dirhams (approximately 60.2 million USD) recorded in the same period...

The African Development Bank Group (AfDB) has approved a $310 million financing for FirstRand Bank, a subsidiary fully owned by the FirstRand Group. This support aims to expand access to credit for micro, small and medium enterprises (MSMEs) in South Africa, with a particular focus on businesses owned or led by women and those active...

The Moroccan insurance and reinsurance sector continues its recovery momentum, initiated in 2024. According to data published by the Insurance and Social Welfare Supervisory Authority (ACAPS), the market recorded a total revenue of 37.7 billion dirhams (approximately 4.07 billion dollars) in the first half of 2025, an increase of 7.7% year-on-year. Direct insurance premiums increased...

The European Bank for Reconstruction and Development (EBRD) has announced a new investment of $40 million in Infinity, an Egyptian company specializing in renewable energy. This investment aims to support projects by Infinity Power, a subsidiary of the group, which is currently developing nearly 3 gigawatts of renewable capacity in several key markets across the...

Egypt is preparing to issue a new offer of sovereign sukuk worth 200 billion Egyptian pounds (approximately $4.1 billion) by the end of 2025, announced the Ministry of Finance responsible for fiscal policies. This initiative is part of the government’s strategy to diversify public financing sources and stimulate private sector participation in the national economy....

The Rwandan government aims to facilitate access to financing for farmers, cooperatives, and SMEs engaged in green agriculture. This initiative is part of the fifth strategic plan for agricultural transformation, launched in December 2024, which aims to strengthen food systems, promote inclusive growth, and increase resilience to climate change, according to the Ministry of Agriculture...

The Central Bank of West African States, through its training and research center, the West African Center for Banking Training and Studies (COFEB), organized on November 7 in Dakar the awarding of certificates for the Executive Strategic Banking Management Program – Level 2, in partnership with HEC Paris. Intended for leaders and executives in the banking and financial sector, this program strengthens skills in strategic management, digitalization, innovative financing, and financial technologies. The result of thirteen years of collaboration between BCEAO, COFEB, and HEC Paris, CEMSTRAT 2 is establishing itself as a regional reference in banking leadership in the WAEMU…

The Central Bank of West African States (BCEAO), through its training and research center, the West African Center for Banking Training and Studies (COFEB), organized in Dakar the certificate award ceremony for the Executive Management Strategic Banking Program – Level 2 (CEMSTRAT 2), in partnership with HEC Paris. This program, aimed at executives and senior managers in the banking and financial sector, aims to develop new managerial postures to enable participants to effectively mobilize and support their organizations in implementing their vision and strategic ambitions. Focused on performance, leadership, and digital transformation, the program highlights modules dedicated to strategic management,…

The African Export-Import Bank (Afreximbank) has approved a $1.3 billion financing for the construction of an ammonia and urea plant in Angola, announced the Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo. With a total estimated cost of $2 billion, the project is being developed as a joint venture between the state-owned company...

At the 2nd edition of the West Africa Sustainable Finance & Investment Forum (WASFIF 2025), the CEO of BRVM, Dr Edoh Kossi Amenounvé, delivered an analysis on the levers of financing growth in Africa, around the theme: “Sustainable finance in Africa, what levers for accelerating development?”. According to him, Africa faces a dual imperative: greening its economy while strengthening its capacity for internal financing, so that climate change does not become a lasting economic catastrophe. The CEO of BRVM pointed out that the continent’s financing needs have quadrupled in twenty years, without a significant increase in Africa’s share of foreign…

The Senegalese capital is hosting the 2nd edition of the West Africa Sustainable Finance & Investment Forum (WASFIF 2025) since Thursday, October 30th. The forum, themed “Green finance, a financing tool for the economies of the Union”, is organized by the Financial Markets Authority of the West African Monetary Union (AMF-UMOA). This event brings together public decision-makers, institutional investors, private sector actors, and technical partners with a common goal: to accelerate the transition towards sustainable and inclusive finance within the Union.

During the 2nd edition of the West Africa Sustainable Finance & Investment Forum (WASFIF 2025), held under the theme “Green finance, a financing instrument for the economies of the Union”, Olivier Buyoya, Regional Director for West Africa at the International Finance Corporation (IFC), delivered a presentation on the theme “Sustainable finance: history, future, challenges and opportunities”. This was an opportunity for the Burundian to provide an overview of the evolution of sustainable finance on a global and regional scale, highlighting the transition from the first socially responsible investment funds of the 1980s to the era of green and social bonds…

The Senegalese capital is hosting the 2nd edition of the West Africa Sustainable Finance & Investment Forum (WASFIF 2025) on October 30, the West African Forum on Sustainable Finance and Investment, this year under the theme: “Green finance, a financing instrument for the economies of the Union”. Organized by the Financial Markets Authority of the West African Monetary Union (AMF-UMOA), this event brings together public decision-makers, institutional investors, private sector actors and technical partners around a common goal: to accelerate the transition towards sustainable and inclusive finance within the Union. This edition aims to build on the achievements of the…

The Algerian insurance market continued to grow in the first half of 2025, mainly supported by the strong performance of the automobile sector. According to the latest report from the National Council of Insurance (CNA), the overall turnover of the sector reached 99.3 billion dinars (approximately 736 million dollars), representing an 8.1% increase compared to...

The Transitional Legislative Assembly (ALT) adopted, on Tuesday, October 28, the bill confirming the dissolution of the Independent National Electoral Commission (CENI), an institution now considered unsuitable for the political and institutional context of Burkina Faso. According to the Parliament radio, this dissolution is part of the authorities’ desire to “rationalize institutions” and ensure better...

The Central Bank of Egypt (CBE) announces that it has withdrawn nearly 3 billion dollars (equivalent to 146 billion Egyptian pounds) in liquidity from 13 banks during its weekly auction in the open market, at a yield rate of 21.5%. This operation is part of the liquidity management policy implemented by the institution to regulate...