Author: Nephthali Messanh Ledy

The Bank of Central African States (Beac) announced, at the end of the third monetary policy committee on 31 October, that the interest rate for tenders has now increased from 2.95% to 3.5%. This measure comes a few months after a first increase of 50 basis points occurred on March 22, 2017. According to the BEAC, it aims to strengthen the ongoing recovery in the volume of foreign exchange reserves of the Central African Economic and Monetary Community ( Cemac), and thus puncturing liquidity. The region had, in fact, lost a total of $ 10.6 billion between 2014 and 2016.…

After experiencing a deceleration in 2017 due to socio-political tensions, economic growth should accelerate to reach a rate of 4.7% in 2018, according to the International Monetary Fund (IMF). “Overall, economic activity is showing signs of stabilization, despite persistent weaknesses in some sectors,” said a team from the institution who was program supported by the Extended Credit Facility (ECF). According to the same source, inflation stood at 0.9% (yoy) in September 2018. “The major fiscal consolidation effort continued in the first half of 2018; the overall fiscal balance showed a surplus of 0.7 percent of GDP during this period, “said…

The World Bank officially releases tomorrow mid-day Wednesday, its report Doing Business 2019, the sixteenth of its kind. Beyond the reference tool that it has become, the ranking faces a few years ago to many critics; and not least. Launched in 2002, the Doing Business report has emerged in debates on economies – especially in...

Preliminary estimates indicate that Benin’s economic growth “will accelerate further mainly because of dynamic port activity,” according to a note from the International Monetary Fund (IMF). “Economic activity remained strong in 2017 (with an estimated growth of 5.8%), supported by high public investment, record production and processing of cotton and the recovery of the Nigerian economy. The current account deficit has widened in 2017 due to an increase in imports of goods, reflecting the increase in public investment, “said the organization in a press release issued Monday, October 29 after a mission in the country. He added that the medium-term…

Beninese authorities and International Monetary Fund (IMF) team reached preliminary agreement on third review under Extended Financing Facility (ECF) program, announces press release on IMF website ‘organization. “The results achieved under the ECF-supported program remain satisfactory. On the basis of available data, all the program monitoring indicators (quantitative and structural) defined for the end of June 2018 have been globally achieved, “says the team led by Luc Eyraud from 18 to 29 October 2018 in Cotonou. According to the statement, discussions focused on the 2019 draft budget, recent economic and financial developments and the policies needed to foster inclusive growth,…

In Morocco, interbank transfers recorded a slight increase of nearly 2%, from 94,012 orders in 2016 to 95,860 in 2017, according to the latest annual report by Bank Al-Maghrib on financial market infrastructures and investment vehicles. their monitoring and financial inclusion initiatives. They represent 51% of the total volume of payment orders settled by the Moroccan Gross Settlement System (SRBM), with a 62% increase in value in 2017 compared to 2016 (more than 330 billion dollars, compared with around 203 billion). As for transfers on behalf of customers, the report of the regulator and supervisor of financial market infrastructures and…

The State of Burkina Faso issues since Thursday, October 18 on the regional financial market, a bond issue by public offering to mobilize 75 billion CFA francs. According to an opinion issued to this end, this fundraising aims to finance growth-enhancing projects included in the National Economic and Social Development Plan (PNDES). Subscriptions extend until November 8, and are open to institutional investors and individuals resident or not in the EUMOA area. Identified by the Regional Council for Public Savings and Financial Markets (CREPMF), the financial market regulator of WAMU, the transaction offers a 6.5% interest rate net of tax.…

The Agency for the Development and Promotion of the Grand Inga Project (ADPI-DRC) announced Tuesday, October 16, to have signed an exclusive development agreement with consortiums China Inga III of China and Pro Inga of Spain, at the end a call for tenders launched in 2010. “Under this agreement, the Democratic Republic of Congo ratifies the constitution of a single consortium by the two groups, candidates for the tender for the Inga 3 Project and remained in contention,” reads a statement Press. By decision of June 12, 2017, recalls the document, the Agency represented by Bruno KAPANDJI KALALA, Chargé de…

The Eranove group was selected for the construction of a 65 MW tri-fuel thermal power plant after a “competitive dialogue” launched in January 2018, according to an announcement made Friday, October 12 by the Togolese authorities. “Despite the efforts in the sector, the government continues to import electricity, hence the need to increase our own capacity by building a new plant. It is for this purpose that the Government has agreed to have a new 65 MW power plant on the Lomé port site, “he said in an official statement. The Council of Ministers had just adopted the decree authorizing…

The Togolese government has examined and adopted this Friday in the Council of Ministers, a decree on the establishment, attributions, organization and operation of the institutional framework for implementation of the Green Climate Fund (GCF). This instrument “plays an important role in the implementation of the Paris agreement on climate. It deploys a range of financial instruments namely grants, loans, equity investments and guarantees, “says an official statement issued to that effect. Launched since March 2017 at the national level, the activities of the preparation process for access to the Green Climate Fund “have made it possible to strengthen the…

The Inga 2 hydroelectric plant will increase production at the end of October, according to an announcement made by its director, Alidor Ntumba. To this end, he informs, new machines will be added to the plant in order to cover Kinshasa, the capital of the Democratic Republic of Congo, and other major cities of the country. “The World Bank has funded two large groups at Inga II. It’s the G 21 and G 22 machines that are virtually in operation and there is also the KCC mining company that has funded two groups, G 27 and then G 28, “said…

The chairman of the Angolan Postal Bank, João Freire, announced in September, nearly 18 billion kwanzas (about 60 million dollars) for the opening of new windows Xikila Money in the 16 provinces of country. Speaking on the sidelines of the third edition of the Postal Forum on “Financial Inclusion, a fundamental right,” Freire said the institution had already invested $ 35 million in ticket windows. They only work since the launch of the bank in Luanda and Huambo. According to the chairman of the postal bank’s board of directors, the institution aims to “grant a financial personality to the Angolan…

Angolan President João Lourenço, leading a delegation on an official visit to China, has obtained a $ 2 billion loan for financing infrastructure projects and reducing the weight of the country’s public debt. Signed by his Minister Archer Mangueira of Finance, on October 9, 2018 with the China Development Bank (China Development Bank), the agreement whose interest rate and terms of repayment are still unknown relates to the financing of several projects already identified in the fields of construction, energy, water and industry. The loan “will be intended to finance projects likely to have a leverage effect on the productive…

The Italian company Eni will buy the British BP, half of its 85% stake in an oil and gas license in Libya in order to restart exploration and development activities in 2019, according to an announcement made Monday, October 8 by both groups. Indeed, a letter of intent was signed in London by the Libyan state oil company, the National Oil Corporation (NOC) and the two companies, paving the way for the finalization of the agreement, the financial terms of which remain unknown. The agreement, according to NOC President Moustafa Sanalla, reflects a renewed confidence in the oil and gas…

This is an old dream caressed in recent years, the Nigerian billionaire Aliko Dangote: see his cement company listed on the London Stock Exchange, the London Stock Exchange. Speaking this week at the fifth edition of the FT Africa Summit, the businessman said his company Dangote Cement was finalizing the preparations to this effect. Adding...

The International Monetary Fund (IMF) has revised down Nigeria’s economic growth rate for 2018, with a new forecast of 1.9 percent, according to its latest report on the World Economic Outlook. In December 2017, the organization announced a growth rate of 2.1% of GDP, thanks in particular to reforms undertaken by the government. She had nevertheless drawn attention to the fragility of Nigeria’s economic situation, despite a recent exit from recession. In terms of inflation, the IMF announces a forecast of 12.4%, after the 16.5% recorded in 2017, and 13.5% for 2019. A forecast that it attributes to the tightening…

Tito Mboweni, former minister of labor under Nelson Mandela and former governor of the Central Bank, was appointed Tuesday, finance minister of South Africa, replacing Nhlanhla Nene, targeted by a corruption investigation. “Mr. Mboweni brings to this position a vast experience in the fields of finance, economic policy and governance,” said Cyril Ramaphosa, the South African president in a message broadcast Tuesday night. “He is assuming this responsibility at a crucial time for our economy, as we intensify cooperation among all social partners to increase investment, accelerate growth and create jobs on a large scale,” he added. “Thank Mr. Nene…

The government of the Democratic Republic of Congo (DRC) adopted and sent to the National Assembly, a draft budget law, management 2019, balanced in revenue and expenditure to 10,352.3 billion Congolese francs (about 5.923 billion dollars), down 0.01% from 2018 (10,353.2 billion). In terms of revenue, Kinshasa expects to mobilize 9,604.9 billion against 8,927.9 in 2018, an increase rate of 7.6%. In the appendix, the government expects $ 169.7 billion and $ 577.8 billion in special account receipts. On the expenditure side, the nomenclature is almost the same: 9,604.9 billion under general budget expenditure, against 8,927.9 billion in 2018, an…

Albert Zeufack, World Bank chief economist for Africa, said on Wednesday, October 3, 2018 that Congo is “coming out of recession, notwithstanding the conclusion of a program with the International Monetary Fund (IMF), which is lagging behind to be recorded “. Speaking from Washington via a video conference organized by the institution on the occasion of launching its report on Africa’s economic prospects, Zeufack said that “the road is full of pitfalls, but it is necessary to huge efforts in reforms to maintain this growth “, which the rate is estimated at about 4% in 2018 according to the government,…

The Togolese government adopted on Wednesday (October 3rd) a bill authorizing the transfer of a state stake in the capital of the Holding of Electronic Communications (togocom), to the private sector. With a registered capital of one billion CFA francs (about $ 1.75 million), this company announced since July 2017 will eventually be formed of 3 subsidiaries that will be born from the ashes of the incumbent operator Togo Telecom , and its subsidiary Togo Cellulaire. It also controls the results of wholly-owned subsidiaries, subsidiaries whose capital amounts to 500 million CFA each. Called “Fixed / Mobile Infrastructure”, the first…

The 2019 management budget bill is up 11.5% compared to 2018, due in particular to the increase in cash transactions, which went from 475.6 billion FCFA in 2018 to 576 , 8 billion in 2019. It balances, in fact, revenues and expenses to 1.461 billion against a forecast of 1.311 billion for 2018, according to an announcement made Wednesday, October 3 by the Council of Ministers has adopted. As in the past, announces the government, the budget forecasts for the year 2019 are based on the guidelines of its economic and social policy, and “on the macro-fiscal framework consistent with…

The Togolese government is returning its jacket. Public banks announced in 2015 to be merged will finally be privatized, as initially planned, in 2011. This option, announced the Council of Ministers of 3 October 2018, “is consistent with the government’s desire to gradually withdraw from the productive sectors to make way for the private sector as part of its policy of partnership with the private sector” on the one hand, and secondly, “because of the current opportunities in the banking market and the opportunity cost that would be the first option for the state”. The first option was, in effect,…

Niger reinstates, as of 2019, the tax on international calls suppressed in recent months, according to the draft budget adopted by the executive. This is a response from the government, whose Minister of Finance, Hassoumi Massoudou, notes that the commitments to which the telephone companies “have subscribed, have not been fully honored.” In particular, they pledged in 2018 to make investments to improve the coverage and quality of their services. Estimated between 50 and 88 F CFA per minute of communication on incoming international calls, this tax had brought about 20 billion to the Nigerian state. Its suppression was condemned…

Nigeria’s state-owned petroleum company NNPC is targeting 2.3 million barrels a day in 2019, compared with 1.7 million currently, according to Malam Mele Kyari, head of crude oil marketing. According to the company, this is an objective “born of the willingness of the Organization of the Petroleum Exporting Countries (OPEC) to balance the market, since oil prices have reached their highest level in the world. four years “. Note that the fall in the price of a barrel, late 2014, had plunged the country into a recession that is not over, despite the improvement announced with the rise of prices.…

Togo welcomed, in 2017, 566,764 tourists who generated 44.7 billion F CFA of hotel receipts, against 425 669 tourists with 37.987 billion of receipts in 2016, according to a message from the Minister supervising, Gabriel Ihou, published at the occasion of the World Tourism Day. Over the same period, “Togo has achieved a good performance of more than 46% in terms of growth in business tourism and congresses, making it the second largest destination in the world for this type of tourism,” says Minister which quotes the World Tourism Organization (UNWTO). For him, this is the fruit of the organization…

The Valley where the bank of the future is invented is in sub-Saharan Africa, according to Yves Eonnet and Hervé Manceron, co-founders of TagPay in their book “Fintech: the banks counterattack”. For the authors, African banks have taken advantage of the technological revolution, in a context where “the rise of fintechs is shaking up the banking sector in developed countries”. Thus, the traditional bank is reinventing itself in digital and human bank, indicates a press release published Wednesday, September 26th. In their book, continues the source, “the authors analyze more particularly what has made the keys to this success, showing…

The Central People’s Bank (PCO) is about to add 4 new banks to its African portfolio. The Moroccan group has indeed seen its offer retained by the French BPCE which will give up its African subsidiaries in Cameroon, Madagascar, Congo and Tunisia. The agreement was concluded on September 25 in Paris and comes to crown exclusive negotiations initiated between the two parties. It opens the way for the acquisition of 68.5% of the capital of the International Bank of Cameroon for Savings and Credit (BICEC), the third largest banking player in the country. In Madagascar, 71% of the assets of…

Arrived Monday, September 24, 2018 in New York for the General Assembly of the United Nations, the Togolese president, Faure Gnassingbé, is announced to take part in the works of the 2nd edition of the “One Planet Summit” which is held Wednesday. Focusing on the theme “Accelerate the implementation of the Paris Agreement, putting finance at the service of climate action”, this meeting is jointly organized by French President Emmanuel Macron, United Nations António Guterres, Jim Yong Kim from the World Bank, and Michael Bloomberg, the United Nations Special Envoy for Climate Action. It will also bring together all the…

Egyptian President Abdel Fattah El Sisi on Sunday (September 23rd) in New York with Christine Lagarde, Executive Director of the International Monetary Fund (IMF), on the progress of Egypt’s economic reform program $ 12 billion over three years by the international organization. “The Egyptian economy is showing strong signs of recovery and its economic growth is among the highest in the Middle East,” said the IMF Managing Director. “We agreed on the importance of taking advantage of Egypt’s macroeconomic gains to advance the authorities’ local structural reforms,” ​​she said. These reforms, according to Christine Lagarde, will contribute to more sustainable,…

At the head of Orabank Togo since late April 2018, the Cameroonian Guy Martial Awona was officially presented Thursday, September 20 in Lomé, during a cocktail organized in honor of his predecessor Cheick Tidiane Ndiaye. Several challenges await him. The former chief executive of Orabank Gabon will, mainly, maintain the Togolese subsidiary to the rank of the first bank of the place. With a record net income of 8 billion CFA francs in 2017, Orabank Togo holds about a quarter (22.5%) of market share in terms of deposits (317.4 billion CFA francs). and loans (292 billion) at 31 December 2017,…