Author: Dominique Mabika

Africa Specialty Risks (ASR), a group specialized in insurance and reinsurance in emerging markets, has announced the appointment of Yassine Asskour and Keith Barrett to underwriting positions. According to the company, these recruitments are part of its growth strategy to strengthen its technical capabilities and presence in African and London markets. Based in Casablanca, Yassine Asskour joins ASR as a property insurance underwriter. He has over eight years of experience in the insurance and reinsurance sectors in Africa. Prior to joining ASR, he held the position of senior facultative non-life reinsurance underwriter for African markets at Atlantic Re. He also…

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), and the Ivorian government have signed a framework agreement for $750 million to support the implementation of the National Development Plan (NDP) 2026-2030, according to a statement released on Thursday, June 18. Signed on the sidelines of the IDB Group’s 2026 Annual Meetings in Baku, this commitment aims to strengthen strategic sectors of the Ivorian economy and promote growth driven by the private sector. With a budget of $750 million, this new agreement represents a tripling of the amount of the previous cooperation framework…

Tunisian insurer STAR closed the 2025 fiscal year with a net profit of nearly 40 million Tunisian dinars, approximately 13.5 million dollars, an increase of 34% compared to the previous year. This performance was achieved in a context of strong growth in the Tunisian insurance market and improvement in the company’s technical indicators. According to...

The National Insurance Commission of Nigeria (NAICOM) has officially returned operational control of African Alliance Insurance Plc to a new board of directors and a new management team appointed by the company’s shareholders. This decision comes after the satisfactory conclusion of the regulatory intervention initiated by the supervisory authority in October 2024. This transition marks...

The net assets of Collective Investment Schemes in Securities (OPCVM) in Morocco reached 830.14 billion dirhams (approximately $91.3 billion) as of June 12, 2026, up 0.4% from the previous week, according to the latest data published by the Moroccan Association of Management Companies and Investment Funds (ASFIM). Since the beginning of the year, the sector’s...

The General Authority of the Suez Canal Economic Zone (SCZone) launched an industrial project in the tire sector on June 17, 2026, led by the Chinese group Longmarch, one of the world’s leading tire manufacturers for trucks and industrial use. The total investment is estimated at 9.5 billion Egyptian pounds, or approximately $190 million. The...

The Islamic Corporation for the Insurance of Investment and Export Credit (SIACE) has published its 2025 Annual Development Effectiveness Report (ADER), entitled: “Anchoring Sustainability: Boosting Trade, Investment, and Development Impact in a Resilient Manner”. The document was made public on the sidelines of the 2026 Annual Meetings of the Islamic Development Bank Group (IDB), held in Baku, Azerbaijan, from June 16 to 19, 2026. The report provides evidence-based analysis of how Sharia-compliant credit insurance and political risk coverage solutions deployed by SIACE contribute to transforming risk management into tangible development outcomes in member countries. It highlights their role in strengthening…

The World Bank Group and the African Development Bank Group announced that their joint initiative “Mission 300” has connected over 50 million people to electricity in 40 African countries. This major milestone brings the continent closer to the ambitious goal of providing access to electricity to an additional 300 million people by 2030. According to the two institutions, the pace of electrification has significantly accelerated since the launch of the program, with progress now nearly twice as fast as at the beginning of the initiative. This momentum is supported by investments covering the entire energy value chain – production, transmission,…

The net foreign assets (NFA) of the Central Bank of Egypt (CBE) stood at $15.22 billion at the end of May 2026, slightly up from $15.16 billion recorded at the end of April, according to official data from the institution. This development is part of a gradual consolidation trend in the country’s external position, which began with the return to positive territory of the NFA in May 2024. Across the entire banking sector – including both the Central Bank and commercial banks – net foreign assets reached approximately $22.9 billion, equivalent to 1,229 billion Egyptian pounds in April 2026, up…

From June 24 to 26, 2026, the Senegalese capital will host the first edition of the International Forum of Economic Press in West Africa (FIPE-UEMOA), under the theme: “Innovating for the economic future of West Africa”. This regional event aims to become a reference platform for dialogue between economic media, public decision-makers, and development actors. The forum will bring together specialized journalists, government officials, representatives of regional and international institutions, development banks, private sector operators, agricultural stakeholders, as well as entrepreneurs and innovators from African technological ecosystems. An organization supported by community institutions The FIPE-UEMOA is organized by the UEMOA…

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), has announced the signing of three strategic agreements, along with a series of high-level exchanges dedicated to strengthening trade finance, promoting trade development, boosting the private sector, and enhancing regional economic cooperation. These agreements were reached on the sidelines...

The President of the European Commission, Ursula von der Leyen, announced the disbursement of 1.5 billion euros in favor of Egypt in June. This funding is part of the comprehensive strategic partnership between the European Union and Egypt and aims to support the economic reform program initiated by the Egyptian government. The announcement was made...

Life insurance companies that are members of the Association for Savings and Investment South Africa (ASISA) maintained a high level of claims settlement in 2025. According to data published by the organization, 94.1% of death-related compensation claims were accepted and settled under individual life insurance contracts, credit insurance, funeral insurance, and old universal life insurance...

The Kenyan government has initiated a reform of insurance legislation aimed at recognizing agricultural insurance as a standalone class of insurance activity. The announcement was made by the Treasury Cabinet Secretary, John Mbadi, during the presentation of the budget proposal for the fiscal year 2026-2027 (ending on June 30, 2027) to Parliament. According to the...

According to S&P Global Ratings, the South African insurance sector is expected to maintain a strong foundation over the next two years, despite an environment burdened by geopolitical, economic, and climatic risks. In life insurance, premium growth is expected to slow down to between 3.5% and 4.5% per year, after 8.7% in 2025, due to...

The pan-African insurance brokerage group OLEA has announced the opening of a new subsidiary in Mauritania, marking another step in its development strategy on the continent. Named OLEA Mauritania, this new entity aims to strengthen the group’s presence in West Africa and support local businesses and investors operating in the country. The opening of this...

The Senegalese insurance market continues to grow within the CIMA zone (Inter-African Insurance Markets Conference). In 2025, the overall turnover of the sector reached 311 billion FCFA (approximately 536.2 million dollars), compared to 249 billion FCFA (429.3 million dollars) in 2022. This evolution reflects a cumulative growth of nearly 25% over three years, with an...

Tunisia has approved a $500 million financing agreement with the African Export-Import Bank (Afreximbank). This approval was endorsed by a presidential decree published in the Official Journal of the Tunisian Republic (JORT) on June 8, 2026, following a favorable opinion from the board of the Central Bank of Tunisia dated March 18, 2026. This loan is intended to help the Tunisian state cover its financing needs and support budgetary balance, within the framework of the 2026 budget law. According to available information, this financing is intended to cover the general needs of the state and contribute to supporting budgetary balance…

Wafa Assurance recorded a consolidated turnover of 6.4 billion dirhams ($674.4 million) in the first quarter of 2026, an increase of 47.1% compared to the 4.35 billion dirhams ($451.7 million) from the first quarter of 2025, according to indicators published by the company. The growth is driven by the Life branch, whose premiums almost doubled...

The Moroccan Capital Market Authority (AMMC) approved, on June 9, 2026, the information memorandum related to the share buyback program of Banque Centrale Populaire (BCP). The program covers a maximum of 10,165,623 shares, representing 5% of the share capital. The maximum purchase price is set at 374 dirhams (approximately 37.4 dollars) per share, with a...

Sanlam Emerging Markets (SEMM), a Mauritian subsidiary of the South African group Sanlam, has obtained approval from the Competition Commission of India (CCI) to increase its stake in Shriram Life Insurance Company (SLIC), thus strengthening its presence in the Indian life insurance market. The transaction involves the acquisition of an additional 2.80% stake in the...

At its ordinary session, the Monetary Policy Committee of the BCEAO decided to maintain its key interest rate at 3%, prioritizing monetary stability despite international geopolitical tensions and soaring energy prices. This decision comes in a context marked by a nearly 90% increase in oil prices since the outbreak of the conflict in the Middle East, a development that could fuel inflationary pressures in oil-importing economies, including those of the West African Economic and Monetary Union (UEMOA). However, the Governor of the BCEAO, Jean-Claude Kassi Brou, remained reassuring about price stability prospects within the Union. According to the institution’s projections,…

The Monetary Policy Committee (MPC) of the Central Bank of West African States (BCEAO), meeting on June 10, 2026 in Dakar, decided to keep its key interest rates unchanged. The minimum rate for liquidity injection operations remains at 3%, while the marginal lending facility rate is maintained at 5%. The reserve requirement ratio for credit institutions in the Union also remains unchanged at 3%. These levels have been in effect since March 16, 2026. This decision is based on the analysis of recent developments in the global and regional economic environment, inflation outlook, growth dynamics, and external situation of the…

The European Bank for Reconstruction and Development (EBRD) has announced the appointment of George Akhalkatsi as Country Director for Tunisia. He will succeed Nodira Mansurova starting from September 1, 2026, and will be based at the Bank’s resident office in Tunis. In his new role, George Akhalkatsi will be responsible for overseeing all of EBRD’s...

The Central Bank of Egypt withdrew 13.5 billion Egyptian pounds, approximately $270 million, from the banking system through an open market operation on Tuesday, June 9. Carried out at an interest rate of 19.5%, with the participation of two banks, this intervention is part of liquidity management instruments and aims to strengthen the effectiveness of monetary policy in the local market. An adjustment in monetary management In this context, the Central Bank revised the terms of its main deposit placement operations through the open market. Until now, these operations were conducted through weekly fixed-rate auctions, with a proportional allocation of…

The second ordinary session of the Monetary Policy Committee (MPC) of the year 2026 opened this Wednesday, June 10 in Dakar, at the headquarters of the Central Bank of West African States (BCEAO). The Committee members are gathered to examine the report on monetary policy in the West African Monetary Union (WAMU), a document that analyzes the recent evolution of the international and regional economic environment, evaluates short and medium-term prospects, and identifies the main risks that could affect the economic activity of the Union. Presiding over the proceedings, Jean-Claude Kassi Brou, Governor of the BCEAO, provided an overview of…

Fitch Ratings has reaffirmed Tunis Re’s national financial strength rating at ‘AA(tun)’, with a stable outlook. The agency highlights the reinsurer’s dominant position in the Tunisian market, as well as its continued growth internationally. This rating is based on several key factors: Tunis Re’s leadership in Tunisia, deemed adequate capitalization, strong profitability, and an effective...

Spiro, a company specializing in electric mobility in Africa, announced on June 9, 2026, the appointment of Anant Badjatya as Group CEO. This appointment comes as part of strengthening the leadership team to support a new phase of growth and pan-African expansion. Anant Badjatya has over twenty years of experience in leading and developing companies in India, the Middle East, and Africa. He has developed expertise in the electric mobility, energy, and industry sectors, and has led several large-scale transformation and growth projects throughout his career. Prior to joining Spiro, he was the CEO of Indofast Energy, a joint venture…

Egypt has assumed the presidency of the African Insurance Organization (AIO) for the 2026-2027 term. Its representative, Alaa El-Zoheiry, President of the Egyptian Insurance Federation (IFE), was elected to lead the continental institution, succeeding Ethiopia. The announcement was made on the sidelines of the opening of the 52nd Annual Conference and General Assembly of the...

The Moroccan economy grew by 4.9% in 2025, up from 4.4% in 2024, according to the national accounts published by the High Commission for Planning (HCP). This performance was mainly supported by the dynamism of domestic demand, in a context marked by controlled inflation and an increase in the financing needs of the national economy....