Author: Dominique Mabika

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....

Zambian reinsurer Finsbury Reinsurance Limited has announced that it has received an “A” rating on the national scale and a “B” rating on the international scale from the International Credit Rating Agency (ICRA) Limited, a globally recognized rating agency based in Dubai and licensed by Zambian regulatory authorities. According to the company, these ratings reflect...

Delta Insurance recorded a consolidated net profit of $6.1 million in the first quarter of 2026, compared to $5.6 million in the same period of the previous year, according to the financial results published by the company. The individual financial statements covering the period from January 1 to March 31, 2026, show a net profit...

MAE Assurances has announced the appointment of Hatem Amira as CEO. He succeeds Lassaad Zarrouk, who is stepping down after nine years at the helm of the company. This appointment has been effective since June 1, 2026. With over thirty years of experience in insurance, management, and governance, the new CEO has a solid expertise...

On the occasion of the Annual Meetings of the African Development Bank held in Brazzaville, Michel Djombo, Minister of Industrial Development, Special Economic Zones, and Private Sector Promotion, answered Financial Afrik’s questions. In this interview, he details the structuring projects aimed at attracting investors, the national strategy for local transformation of raw materials to enhance value-added on the territory, as well as the reforms undertaken to improve the business climate and support the emergence of a competitive private sector. Interview Congo aims to accelerate its industrialization. What are the main industrial projects or special economic zones that the government considers…

“The Promise program is Congo’s bet to develop 50,000 SMEs and boost economic transformation” The integrated multisectoral program to support entrepreneurship, called “Promise,” was initiated by the authorities of the Republic of Congo, through the Ministry of Small and Medium Enterprises and Handicrafts, as part of accelerating progress towards development. On this occasion, the United Nations Development Programme (UNDP) was called upon to provide its expertise in fiduciary management, through an agreement signed in July 2025 for the establishment of a “basket fund” or common financing pool. This program was the subject of a round table organized on the sidelines…

During the 2026 Annual Meetings of the African Development Bank in Brazzaville, economist and former Executive Secretary of the United Nations Economic Commission for Africa, Carlos Lopes, spoke to Financial Afrik about the challenges of the New African Financial Architecture (NAFAD). At the heart of the discussions: mobilizing African savings, reforming the continent’s financing mechanisms, and the urgent need to build financial sovereignty capable of supporting Africa’s economic transformation.

The African Development Bank (AfDB) announced on Tuesday, May 19, the temporary exclusion of Esiko Kenya Enterprises Limited, as well as Chen Chao and Huang You, for fraudulent practices related to an electrification project in the Republic of Kenya. The Kenyan civil and electrical engineering company is suspended for a period of nine months, while the two Chinese nationals are excluded for twelve months. This decision follows an investigation conducted by the AfDB’s Integrity and Anti-Corruption Office. Irregularities identified in an electrification market According to the investigation findings, the parties involved engaged in fraudulent practices in a market for the…

Egypt has significantly reduced its arrears owed to foreign oil and gas companies, now brought down to $440 million, from $6.1 billion previously, according to an announcement from the Ministry of Petroleum and Mineral Resources on Wednesday, May 20th. The progress was presented by Minister Karim Badawi during a strategic seminar organized by the Egyptian-British...

Delta Holding, a Moroccan industrial group, recorded a consolidated turnover of 599 million dirhams (around 59.9 million dollars) in the first quarter of 2026, an increase of 3% compared to the same period in 2025. A start of the year marked by a generally resilient activity, according to the group’s financial statement on its quarterly indicators. A controlled investment policy Investment expenses (CAPEX) amounted to 16 million dirhams (approximately 1.6 million dollars), a stable level year-on-year, reflecting the continuation of a prudent policy. At the social accounts level, the parent company posted a turnover of 22 million dirhams (approximately 2.2…

Sanlam Morocco and TotalEnergies have officially signed a strategic partnership aimed at bringing together insurance, mobility, and value-added services, in a logic of integrated customer experience, according to a statement published on Tuesday, May 19. This collaboration marks a new step in the convergence between the energy, insurance, and automotive services sectors. The two groups...

Maghrebia Vie continues its growth trajectory. For the year 2025, the net income reached 23.4 million Tunisian dinars, approximately 7.5 million dollars, up 15.8% year-on-year, benefiting from a favorable financial effect that amplifies operational performance. Return on equity (ROE) improves to 18.1% from 17.1% a year earlier, reflecting a more efficient capital allocation and an...