Author: ISSOUF KAMAGATE

Commercial banks in Nigeria deposited 4.74 trillion naira with the Central Bank of Nigeria (CBN) through the Standing Deposit Facility (SDF) mechanism on Monday, July 20, representing a 14.24% increase from the previous session’s 4.15 trillion naira. This increase occurred in a context of abundant liquidity in the financial system. The increased use of SDF indicates that banks preferred to place their excess cash with the central bank on a day-to-day basis rather than lending it in the interbank market. This mechanism allows institutions to earn interest on their excess liquidity. According to the Financial Markets Dealers Association (FMDA), liquidity…

Minister of Planning and Development, Souleymane Diarrassouba, presented the main macroeconomic indicators of Ivory Coast, as part of the “Government’s rendez-vous” forum organized on July 20, 2026 by the Government Information and Communication Center (CICG). According to the minister, the Ivorian economy recorded an average growth rate of 8.1% between 2012 and 2019, before slowing down to 0.7% in 2020 due to the Covid-19 pandemic. He indicated that it then stabilized at an average of 6.5% over the period 2021-2025. Souleymane Diarrassouba also stated that GDP per capita increased from 1,546.9 US dollars in 2012 to 3,148.2 US dollars in…

Senegal takes over the rotating presidency of the Economic Community of West African States (ECOWAS). Following the 69th ordinary session of the Conference of Heads of State and Government, held on Sunday, July 19 in Sierra Leone, President Bassirou Diomaye Faye was elected to lead the sub-regional organization. He succeeds Sierra Leonean Julius Maada Bio, who was previously serving as the President of the Conference of Heads of State and Government. “I am happy to pass the baton to my younger brother, His Excellency Bassirou Diomaye Diakhar Faye,” said the outgoing president during the ceremony. Bassirou Diomaye Faye’s assumption of…

The legal battle between GN Savings and Loans and the Bank of Ghana (BoG) has seen a new development with the Supreme Court’s decision to grant a stay of execution against the Court of Appeal’s ruling ordering the restoration of the financial institution’s operating license. As a result, the execution of the Court of Appeal’s...

The Senegalese political and diplomatic landscape is expecting a first this Friday, July 17, 2026. Former president Macky Sall announced on his social media accounts on Tuesday 14 that he will make a brief visit to Dakar to meet with his successor, Bassirou Diomaye Faye. According to Macky Sall, this meeting will focus on his approach towards the position of Secretary-General of the United Nations. The former head of state also indicated that this trip will be of short duration. However, he announced a soon return to Dakar to meet more broadly with his supporters and sympathizers. This visit comes…

On July 11, 2026, the Minister of Planning and Development, Souleymane Diarrassouba, and Ahunna Eziakonwa, Under-Secretary-General of the United Nations and Director of the Regional Bureau for Africa of the United Nations Development Programme (UNDP), formalized the strengthening of their cooperation. During the African Economic Conference, this meeting allowed for the discussion of a common roadmap aimed at mobilizing the necessary resources and accelerating the structural reforms planned within the framework of the National Development Plan (NDP) 2026-2030. In a context marked by the contraction of official development assistance and concessional financing, both parties emphasized the need to diversify sources…

African Risk Capacity Limited (ARC Ltd.), a parametric insurer dedicated to development in Africa, officially announced on Tuesday, July 14, the appointment of David Maslo as Executive Director. With over twenty years of experience in the insurance sector, Mr. Maslo is recognized for his work in institutional transformation and innovation in climate risk financing, in...

On July 10, 2026, during an inter-ministerial forum dedicated to critical minerals in Abidjan, the Minister of Mines, Petroleum and Energy, Mamadou Sangafowa Coulibaly, unveiled the Integrated Policy for Mineral Resources and Energy (PIRME). For the period 2026-2040, this roadmap, aimed at establishing a performing extractive industry, will require an investment of 38,000 billion CFA francs (around 63 billion USD). According to the minister, this transformation must be part of a dynamic of enhanced regional cooperation, essential for building interconnected value chains on a continental scale. This meeting, organized by the African Development Bank (AfDB), brought together around thirty African…

To enable Ivory Coast to access the category of upper middle-income countries, Ousmane Diagana, Vice President of the World Bank for West and Central Africa, recommends a targeted strategy. According to him, the country must focus its efforts on key growth sectors such as energy, agriculture, and digital technology, while strengthening human capital through investments...

Ivory Coast marked a turning point on Wednesday, July 8, 2026 during the first day of the Consultative Group meeting for the financing of its National Development Plan (NDP) 2026-2030. Gathered in Abidjan under the chairmanship of Vice-President Tiémoko Meyliet Koné, representing President Alassane Ouattara, development partners expressed renewed confidence in the Ivorian economy. The announced financing intentions reached a total amount of 47,820 billion CFA francs (80 billion US dollars), nearly four times the initial target set at 11,138.2 billion CFA francs (20.3 billion US dollars). The meeting brought together more than 3,000 participants from 49 countries. This financial…

Bridge Bank Group Côte d’Ivoire (BBGCI) announced on Monday, July 6 in Abidjan, its listing on the Regional Stock Exchange (BRVM). According to Myriam Ouattara, CEO of Bridge Securities, the lead arranger of the operation, this involves the sale of 20% of the bank’s capital, representing 10 million shares offered at a unit price of...

The Ivorian political landscape is witnessing a new development. Moïse Lida Kouassi, former Minister of Defense under Laurent Gbagbo, regained his freedom under judicial supervision on Monday, July 6, 2026, after more than ten months of detention. The information was relayed by sources close to the African People’s Party – Ivory Coast (PPA-CI), a political party of which he is an influential member. His release comes as the former minister, a prominent figure in the post-electoral crisis of 2010-2011, is facing health issues requiring special care. Cyberactivist Ibrahim Zigui, close to the PPA-CI, also benefited from temporary release on the…

On July 3, 2026, Ivory Coast inaugurated its Ferké Solar photovoltaic solar power plant in the north of the country. Developed by PFO Energies, the project was completed in 13 months with an investment of 41 billion CFA francs. With an installed capacity of 52 megawatts-peak (MWc), this infrastructure is among the solar power plants...

Endeavour Mining claims to have contributed 1,710 billion CFA francs (approximately $2.85 billion) to the Ivorian economy between 2021 and 2025. This report was presented on June 29, 2026 in Abidjan by Laetitia Gadegbeku-Ouattara, Vice President of Public Affairs and Country Director of the group, during a ceremony attended by representatives of the State. Public...

Egypt plans to increase the share of the private sector to 59% of the total volume of national investments for the fiscal year 2027. This direction was announced on June 29, 2026 in Cairo, during the launch of the economic impact study of L’Oréal Egypt. On this occasion, the Minister of Planning and Economic Development, Ahmed Rostom, outlined the main points of a strategic plan aimed at strengthening the private sector’s contribution to the national economy. This policy is part of an effort to create a more attractive environment for business and investments. The Egyptian authorities particularly highlight the development…

The Ivorian diaspora contributes to the national economy with over 900 billion CFA francs (over 1.5 billion dollars) per year, according to government statistics. An amount higher than official development assistance. Facing the diaspora on June 26 and 27, 2026 in Paris, the Minister of Planning and Development, Souleymane Diarrassouba, expressed the government’s wish to further direct this financial capacity towards productive investment, in line with the priorities of the 2026-2030 National Development Plan (NDP). The government’s policy in favor of the Ivorian diaspora is based on three axes. The first concerns the establishment of financial instruments aimed at mobilizing…

In the context of its policy to streamline the state workforce, the Guinean government has announced the dismissal of 5,125 civil service employees. The measure is included in several decrees signed on June 18, 2026 by the Minister of Modernization of Administration and Civil Service, Faya François Bourouno. According to the information provided, 4,906 employees are dismissed for desertion. The other 219 cases concern civil servants who have exceeded the legal duration of five years provided for in a placement on leave. This operation concerns several sectors of the administration, including the presidency of the Republic as well as the…

Norwegian company Scatec plans to invest an additional $5 billion in Egypt over the next two years. This investment project, discussed on Sunday, June 28 during a meeting between the Egyptian Minister of Investment and Foreign Trade, Mohamed Farid, and representatives of the company, aims to expand the group’s project portfolio in the country. According...

The European Bank for Reconstruction and Development (EBRD) announced on Monday, June 29, the finalization of a $180 million financing in Ivory Coast. Structured around a syndicated loan, the operation includes a direct contribution of $30 million from the EBRD, alongside an international banking pool composed of FirstRand, Absa, Mauritius Commercial Bank, and Abu Dhabi...

During a reflection workshop dedicated to the creation of a national label, organized by the Ivorian Export Agency, Dr. Koffi Paul Assandé, Director General of the Ivorian Office of Intellectual Property (OIPI), highlighted the country’s already achieved successes. Ivory Coast has indeed obtained the labeling of three emblematic products: attiéké, Baoulé cloth, and mountain coffee. According to him, a new step is about to be taken with five other products currently in the process of being labeled: shea butter, Kent mango, red oil, Danané rice, and purple onion from Comoé. To ensure the protection and valorization of these exportable products,…

The deputy chief of staff of the Minister of Economy, Finance and Budget, Vassogbo Bamba, revealed on Thursday, June 25, during the second edition of the National Microfinance Days in Abidjan, that the number of clients increased from 2.5 million at the end of December 2025 to 2.9 million in the first quarter of 2026,...

The Ivory Coast has reached a historic milestone in the management of its public finances. The Ministry of Economy, Finance and Budget announced on June 24, 2026, the successful completion of the economic and financial program conducted with the International Monetary Fund (IMF). “The Republic of Ivory Coast is taking a major step in strengthening...

The World Bank officially launched the SIRA program (Skills for Innovation, Resilience, and Aspirations) on June 22, 2026 in Washington. With a budget of $642 million (approximately 360.1 billion CFA francs), this regional initiative aims to improve the employability of young people in West and Central Africa, with a priority on the integration of young...

4G Capital, a fintech company, announced from Nairobi (Kenya) on Tuesday, June 23, that it has reached the symbolic threshold of one billion dollars in loans granted to small businesses in Kenya and Uganda. Since its establishment in 2013, the company claims to have assisted nearly 800,000 clients through over 7.6 million working capital loans,...

Ivory Coast has recorded a new oil discovery on the offshore block CI-709. Murphy Ivory Coast, operator of the block, and its partner Petroci Holding announced this in a statement relayed on Tuesday, June 23 by the Ministry of Mines, Petroleum and Energy. According to the information provided, this discovery resulted from the drilling of...

NSIA Banque Côte d’Ivoire and British International Investment (BII), the British development finance institution, have signed a partnership agreement for a term loan of over €32 million (€30 million). The agreement was signed on June 17, 2026 in Abidjan. This funding aims to strengthen access to credit for small and medium-sized enterprises (SMEs) in Côte...

“The African continent displays remarkable economic vitality, notes the Report on African Trade 2026, entitled “Harnessing Geopolitics for Global Trade and Africa’s Industrialization”, published on June 21, 2026. Prepared by the Research Division of the African Import-Export Bank (Afreximbank), this document indicates that real GDP growth increased from 3.4% in 2024 to 4.5% in 2025....

Valency International, in partnership with Revata Carbon, officially commissioned the first industrial biochar production unit in Côte d’Ivoire on June 18, 2026. Located in Attinguié, on the western outskirts of Abidjan, this infrastructure marks a new milestone in the valorization of biomass at the national level. This plant has a processing capacity of nearly 20,000...

The Dutch Development Bank (FMO) has indicated that the amount of its investments already made in Côte d’Ivoire amounts to nearly 200 million euros, or approximately 131 billion CFA francs. The announcement was made by Rob Beeker, chairman of the institution’s board of directors, during a meeting held in Abidjan on Thursday, June 18, 2026. The FMO management also announced its intention to soon open a permanent representative office in Abidjan. According to the institution, this structure is intended to strengthen its operational presence in the country and support the deployment of its financing in several sectors of the Ivorian…

Presidents Alassane Ouattara and John Dramani Mahama strengthened their cooperation during a summit held on June 16, 2026 at the Presidential Palace of Côte d’Ivoire, in Abidjan. This high-level meeting, dedicated to the joint Côte d’Ivoire-Ghana initiative, aims to establish a fairer and stronger cocoa economy. By harmonizing their field price policies and promoting local...