Author: Dominique Mabika

The Central Bank of West African States (BCEAO) has reacted by warning the public against the dissemination, on social networks, of information about the circulation of counterfeit banknotes in the UEMOA area and presenting identification methods that are not validated by the issuing institute. In a statement released on August 21, 2026, the BCEAO emphasizes that the use of unofficial authentication methods can mislead users. These practices may lead to the acceptance of counterfeit notes as well as the unjustified rejection of authentic notes. Faced with the spread of this information, the central bank urges the population to be vigilant…

The Financial Market Surveillance Commission of Central Africa (Cosumaf) has just granted the very first accreditation to a financial rating agency in the CEMAC region. This decision paves the way for the emergence of regional expertise in credit risk, in a sub-region still largely dependent on large international agencies. Meeting in ordinary session on August...

SAMB’A Assurances launches SAMB’A Exploitation Agrikol, a new micro-insurance solution aimed at agricultural operators in Gabon. Presented as a first in the country, this offer aims to strengthen the protection of farmers against the main risks that could affect their activities and contribute to a more resilient agriculture. In a press release published on August...

In Tunisia, the inflation rate stood at 5.1% in July 2026, down from 5.3% in June, confirming the continued slowdown in price increases in the country. This development is mainly attributable to the deceleration of prices in the “Food and beverages” category, with annual growth falling to 6.6%, down from 7.1% the previous month. However,...

The Suez Canal continues its recovery. In the second quarter of 2026, revenues generated by this strategic maritime route reached $1.26 billion, up 13% from the approximately $1.1 billion recorded in the first quarter. This is the highest level of quarterly revenue since the first quarter of 2024, driven by a recovery in maritime traffic....

The Moroccan automotive market continues its growth momentum. By the end of July 2026, sales of new vehicles reached 152,486 units, compared to 131,739 a year earlier, representing a 15.7% increase, according to statistics published by the Association of Vehicle Importers in Morocco (AIVAM). In July alone, 20,738 vehicles were registered, up 5.2% from the 19,713 units recorded in the same period in 2025. While the market remains on an upward trend, its growth rate has slowed down after the strong 16.7% increase observed in June. In detail, sales of passenger cars (PC) increased by 2.1% in July to reach…

CIH Bank announced the completion of its cash capital increase open to the public, carried out with the removal of the preferential subscription right, for an amount of 750 million dirhams, or approximately $82.5 million. The operation involved the issuance of 2,142,857 new shares. According to a press release published on Wednesday, August 5, subscriptions...

After several delays, the Economic Community of West African States (ECOWAS) intends to relaunch its ambitious project of a single currency. Gathered on July 19 in Freetown, Sierra Leone, during the 69th ordinary session of the Conference of Heads of State and Government, West African leaders reaffirmed their willingness to launch the ECO starting from 2027. This time, the approach is intended to be gradual. Countries that meet the macroeconomic convergence criteria would be prioritized for joining the monetary union, while others would be supported to gradually join the process. However, is this new schedule truly credible? Are the economic,…

The Egyptian Financial Regulatory Authority (FRA) continues to strengthen the non-banking financial sector. In a statement on Tuesday, August 4th, the regulator announced that it has granted licenses to four companies to engage in various non-banking financial activities as part of its strategy to diversify service offerings, improve market competitiveness, and enhance investment attractiveness. Among...

The Algerian Insurance Company (SAA), a public Algerian insurer, announced that it has increased its share capital from 35 to 40 billion Algerian dinars (DZD), through the incorporation of reserves, according to a statement released on July 30, 2026. The operation, which results in an increase of the capital from 261.6 to 299 million US...

On Wednesday, July 29, the European Union unlocked a new disbursement of 1.5 billion euros in favor of Egypt, as part of its macro-financial assistance program (MFA). This payment is part of the European support for the economic reforms undertaken by Cairo and its efforts towards macroeconomic stabilization. According to a statement from the European...

Moroccan fintech company Cash Plus processed 62 billion dirhams worth of transactions in the first half of 2026, a 21% increase compared to the previous year. Driven by money transfers, payment accounts, and proximity services, the group also improved its profitability. The total volume of transactions processed by Cash Plus reached 62 billion dirhams (approximately...

The Egyptian Tax Authority (ETA) announced on July 26, 2026, the implementation of a set of tax measures targeting activities related to securities, as part of a reform package developed with the Ministry of Finance and the Financial Regulatory Authority (FRA). These announcements come after the adoption by the House of Representatives on June 23...

The payment systems of the West African Economic and Monetary Union (UEMOA) reached a record level of activity in 2025. According to data provided by the Central Bank of West African States (BCEAO) in Dakar, STAR-UEMOA, dedicated to high-value payments, processed 1,247,988 trillion FCFA, or approximately 2,209 billion dollars. On the other hand, SICA-UEMOA, which handles mass payment clearing, recorded 88,465 trillion FCFA, or nearly 157 billion dollars. During a seminar organized in Dakar on July 20 and 21, 2026 for UEMOA journalists, BCEAO reviewed the evolution of its payment systems over the past two decades. The institution presented the…

The Central Bank of West African States (BCEAO) continues to modernize its payment infrastructure to promote instant, secure, and accessible transactions within the West African Economic and Monetary Union (WAEMU). Beyond the Union, this strategy is now part of a dynamic of financial integration at the level of the Economic Community of West African States (ECOWAS) and the African continent. This was indicated by Massi Lawson, Deputy Director of Payment Systems and Means at the BCEAO, on the sidelines of a seminar organized for journalists of the Union on July 20 and 21, 2026 in Dakar. BCEAO engaged in the…

Egypt exported over 2.3 million tons of petroleum products in the first half of 2026, a volume already equivalent to that recorded for the entire year of 2025, according to a statement released on July 25, 2026 by the Ministry of Petroleum. This development is attributed, by the authorities, to the intensification of exploration activities,...

Morocco is intensifying its efforts to gather the necessary funding for the realization of the Atlantic African Gas Pipeline (AAGP), developed in partnership with Nigeria. Rabat is seeking to mobilize $26 billion from the Export-Import Bank of the United States (US Exim Bank) and the World Bank, as indicated by Morocco’s ambassador to the United...

Egyptian insurance companies paid out 19.08 billion Egyptian pounds (approximately $386 million) in compensation to their policyholders in the first four months of 2026, compared to 18.45 billion pounds ($373 million) in the same period in 2025, representing a 3.4% increase, according to the latest monthly report from the Financial Regulatory Authority (FRA). Commercial insurance...

The board of directors of the African Development Bank (AfDB) has approved a €100 million loan to Gotion Power Morocco, a subsidiary of the Chinese group Gotion High-Tech. This financing is intended to contribute to the construction of an integrated lithium-iron-phosphate (LFP) battery factory in the Rabat-Salé-Kénitra free zone, according to a statement released by the institution on July 24, 2026. AfDB also indicates that it plans to mobilize up to an additional €141 million from financial partners to support the project’s implementation. It specifies that it is acting as the lead arranger mandated under the New African Financial Architecture…

The West African Training and Banking Studies Center (COFEB), a training and research center of the Central Bank of West African States (BCEAO), organized a ceremony in Dakar on Saturday, July 25 marking the end of the first phase of training for the 48th promotion of its diploma cycle. This step comes before obtaining the COFEB diploma. It marks the completion of the theoretical phase of a training focused on banking, financial, and economic disciplines related to the environment of the West African Economic and Monetary Union (UEMOA). The 48th promotion consists of 30 auditors from the eight member states…

Did you know? The visual identity of the BCEAO, the central bank of the 8 UEMOA states, does not begin in the offices of a modern graphic designer, but on the gold trade routes. Between myths, Akan art, and institutional realities, Financial Afrik focuses precisely on the famous sawfish and explores the origins and true meaning of this unique monetary symbol. Long before the appearance of banknotes and coins in the West African Monetary Union (WAMU) space, commercial exchanges were based on barter, cowries, salt, or even gold dust. Among the objects used in this system was a small bronze…

The Central Bank of West African States (BCEAO) pursued a cautious monetary policy in 2025, reconciling inflation control and support for economic growth. Presented on July 22 in Dakar, the institution’s 2025 Annual Report shows that this strategy has brought inflation down to 0.0%, from 3.5% a year earlier, while maintaining robust economic growth of...

The Central Bank of West African States (BCEAO) provided an update on its work regarding a potential central bank digital currency (CBDC) during the presentation of its 2025 Annual Report on July 22, 2026 in Dakar. Unlike cryptoassets, this currency would be issued and backed by the BCEAO, similar to the banknotes and coins currently in circulation. However, the Central Bank emphasized that no deployment decision had been made yet. A study phase is currently ongoing to assess the relevance of such an instrument for the West African Economic and Monetary Union (WAEMU). “A central bank digital currency does not…

On the sidelines of the presentation of its 2025 Annual Report on Wednesday, July 22 in Dakar, the Central Bank of West African States (BCEAO) highlighted the progress made in financial inclusion and innovation. At the heart of this strategy is the regional instant payment platform PI-SPI, which now has over 30 million users, representing nearly 40% of the adult population of the UEMOA, estimated between 75 and 80 million people. Launched on September 30, 2025, this infrastructure allows users to send and receive money in real time, 24 hours a day, 7 days a week, between different financial institutions,…

The Central Bank of West African States (BCEAO) presented its 2025 Annual Report on Wednesday, July 22 in Dakar. The document outlines the actions taken, decisions made, and results achieved in the exercise of its missions, in an economic and financial environment marked by profound changes. In 2025, the institution structured its actions around three strategic priorities: controlling inflation, strengthening financial system stability, and accelerating financial inclusion and innovation. The year 2025 unfolded in an uncertain international context, marked by rising protectionism, tightening trade barriers, persistent fragmentation of global trade, and financial market volatility. Regionally, security challenges and the effects…

Banks and microfinance institutions in the West African Economic and Monetary Union (UEMOA) increased their contribution to financing the economy in 2025. According to data presented by the Central Bank of West African States (BCEAO) during a training seminar organized on July 20 and 21, 2026 for journalists in the Union, outstanding bank loans to customers amounted to nearly 39,000 billion CFA francs at the end of December 2025. On this occasion, the Central Bank presented an overview of the financial sector as well as the main reforms initiated to improve financing conditions in the Union. A support role in…

The Central Bank of West African States (BCEAO) opened a two-day seminar for economic journalists of the West African Monetary Union (UMOA) in Dakar, Senegal on Monday, July 20. This session brings together media professionals from the eight member states of the Union. According to BCEAO, the aim is to enhance their understanding of the institution’s missions, policies, and actions. During these two days, there will be exchanges between participants and several experts from the Central Bank on topics such as monetary policy, financial stability, the banking system, financing the economy, digitalization, and financial innovations. Issues related to payment systems…

Sanlam Emerging Markets Ireland Limited, an international investment vehicle of the South African financial services group Sanlam, has directly crossed the thresholds of 5% and 10% ownership in the capital of Sanlam Morocco, according to a statement from the Moroccan Capital Market Authority (AMMC) published on July 16, 2026. This crossing of thresholds comes as...

Tunisia’s foreign exchange reserves have recorded a sharp decline, standing at 23,150 million dinars (approximately 7.98 billion dollars) on July 14, 2026, equivalent to 92 days of imports, according to data published by the Central Bank of Tunisia (BCT). This decrease marks a departure from the upward trend observed during the first week of July....

In Kenya, a bill being examined in the Senate proposes to introduce mandatory annual emissions testing for vehicles. The text, entitled the Environmental Management and Co-ordination (Amendment) Bill, 2026, aims to make an emissions certificate a prerequisite for several procedures, including obtaining a vehicle inspection certificate and taking out or renewing car insurance. In detail,...