Author: Dominique Mabika

Investments in African start-ups specializing in insurance technologies (InsurTech) have exceeded $300 million over the past five years. According to the African InsurTech Landscape 2026 report, published on October 19, 2026 by AfricInvest, a pan-African multi-asset investment platform, sector financing reached $80.6 million in 2025. Between 2019 and 2025, they grew at a compound annual...

Bank Al-Maghrib, the Moroccan Capital Market Authority (AMMC), the Insurance and Social Welfare Supervisory Authority (ACAPS), and the National Authority for Probity, Prevention, and Anti-Corruption (INPPLC) have adopted a new roadmap to strengthen the fight against corruption in the Moroccan financial sector. This decision was made on Tuesday, October 20, 2026 in Rabat, during the sixth annual high-level meeting of the four institutions, signatories since November 2019 of a cooperation agreement dedicated to the prevention and fight against corruption in the financial sector (CASF). The meeting allowed for the evaluation of actions taken during the period 2025-2026 and the approval…

Félix Mabende Issembé, CEO of Ogar Assurances and Ogar Vie, was elected on October 8, 2026 as the head of the Gabonese Federation of Insurance, Reinsurance, and Microinsurance Companies (Fegasa). He succeeds Stephen Moussirou, who has joined the BGFIBank Corporation holding. A graduate of the International Institute of Insurance (IIA) in Yaoundé, the new president...

The 42nd General Assembly of the Council of Bureaus of the ECOWAS Brown Card Insurance System opened on Tuesday, October 20, 2026 in Dakar, Senegal. Under the theme “The ECOWAS Brown Card at a decisive turning point: institutional reform, digital transformation, and pursuit of excellence in cross-border automobile insurance”, the meeting brings together some 200 delegates from national bureaus, insurance companies, and regulatory authorities. The discussions focus on improving the governance of the system, generalizing digital certification, and reducing the compensation delays for victims of traffic accidents that occur across national borders. This 42nd General Assembly marks a new stage…

The Tunisian budget bill for 2027 provides for the State to cover 50% of insurance premiums related to export operations to the African market. This measure aims to facilitate Tunisian companies’ access to markets on the continent, particularly within the Common Market for Eastern and Southern Africa (COMESA) and the African Continental Free Trade Area...

The National Insurance Company (SAA), the leading Algerian insurer, and CNEP-Bank have entered into a partnership aimed at facilitating the financing and insurance of buses acquired as part of the national public passenger transport fleet renewal program. The agreement includes comprehensive coverage and preferential conditions for professionals in the sector. This initiative is part of...

Fitch Ratings has confirmed Misr Insurance Company’s financial strength rating at “AAA(egy)”, with a stable outlook. In its analysis published on October 14, 2026, the agency highlights the insurer’s dominant position in the Egyptian market, strong capitalization, and financial performance, despite an economic environment marked by inflation and risks related to sovereign debt. In the...

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...

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...

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 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…