Author: Nephthali Messanh Ledy

In Nigeria, Guinea Insurance Plc’s activities were suspended by the National Insurance Commission (NAICOM) in a decision issued on January 29, 2019 by the regulator. Reasons, the delay in the appointment of a new Director General and the non-compliance with certain measures, including the renewal of certain reinsurance treaties, among others. According to NAICOM, the company will no longer be able to take out new business. However, it is authorized to continue the management of its risk portfolio. Listed on the Lagos Stock Exchange, Guinea Insurance Plc is a non-life insurance group organized around 4 business lines: accident insurance which…

In Togo, less than 1% of bank loans go to the agricultural sector, which accounts for 60% of the active population and whose relative share in GDP is around 40%, according to the National Development Plan (NDP). Indeed, although Lomé is the third financial center of UEMOA with 13 banks established, “the financing of the Togolese economy, although at a favorable level compared to other WAEMU countries, remains far from the contribution brought by this system in emerging economies, “notes the document. The problem, he explains, is not only at the level of access to finance but also at the…

Since becoming the leading container port in the region since 2017, Lagos has been ranked first. Lomé owes its rank to some investments made in recent years by the Bolloré Group and Lomé Container Terminal (LCT). And in the medium term, Togo does not intend to stop there. In a competitive climate between West African...

This is the reason given by an airline that suspends next Tuesday, service between Lusaka and its hub. “We regret to have to announce that due to the current situation in Zimbabwe and the difficulties related to the repatriation of funds from Zimbabwe, we are temporarily suspending our Lusaka / Harare link from January 29 to March 1”, says the company Proflight Zambia in a statement released on January 24. “All passengers will be fully reimbursed for tickets purchased for travel during this period,” said Philip Lemba, director of government and industry affairs for the Zambian airline. Launched only in…

This is what we learn from a statement issued on Thursday (January 24th) by the French banking group which denies rumors about the sale of BMCI in Morocco: “BNP Paribas wishes to recall that its establishment in Africa is today fully part of its international system and does not intend to withdraw from the continent, “he said. In this outing aimed at clarifying its development strategy in Africa, the bank recalls that it “adopted [on the continent] a targeted strategy and continues to strengthen where market characteristics match its strengths and conditions desired in terms of development and risk management…

[This content has been subject to several regular amendments during the investiture ceremony.] The outgoing President of the Democratic Republic of the Congo (DRC), Joseph Kabila passed this Thursday the power to his successor Felix Tshisekedi during an inauguration ceremony held at the Palace of the Nation, ceremony meanwhile interrupted following a unease of the new president in full speech. He had just taken an oath before the Constitutional Court in the presence of his predecessor, who in turn handed him the symbols of power: historical. “This Thursday, January 24th is a great day,” said Tshisekedi in his keynote speech.…

The African continent recorded 67 million tourist arrivals in 2018 according to figures released this week by the World Tourism Organization (UNWTO). That’s an increase of 7% compared to 2017 data. According to the world body, this rate varies according to regions: for example, growth is 10% in North Africa and 6% in Sub-Saharan Africa. The same source indicates that the global total of international tourist arrivals is estimated at 1.4 billion in 2018. This is the second highest growth rate since 2010. As a reminder, the UNWTO long-term outlook study published in 2010 forecast the level of 1.4 billion…

The Africa Finance Corporation (AFC) announced Thursday the financial close of a bridge loan contracted by Ivory Hydro Energy (IHE) for the development of a 44 MW hydropower project in Singrobo-Ahouaty on the Bandama River 140 km north of Abidjan and associated infrastructure. The AFC’s commitment to IHE amounts to a total of 174 million euros, including a majority equity investment of 24.4 million euros and a bridge loan of 149.6 million euros. euros, indicates the financial institution for infrastructure development, stating that the first installment of the bridge loan took place in December 2018. For the Singrobo-Ahouaty Hydropower Project…

In a note published on the Mena region and Turkey, the US rating agency Standard and Poor’s (S & P) shares the high exposure of the Moroccan banking sector to the risks related to real estate. “The Moroccan banking sector remains constrained by its high exposure to the risks associated with commercial real estate. This is reflected by the over-indebted promoters who are facing a decrease in real estate transactions, “she says. “We expect total nonperforming loans to remain high over the next two years (around 7%), with steel, tourism, commercial real estate and construction recording the largest credit losses.…

Egypt will rank 7th among the 10 largest economies in the world by 2030, according to new long-term forecasts released by Standard Chartered on Tuesday (January 8th). In fact, the British bank estimates, the country would be ahead of several current major economic powers including Russia, Japan and even Germany. In fact, seven of the ten largest economies in the world by that time will likely be savings from emerging emerging markets, according to the institution. “Our long-term growth forecast is based on a fundamental premise: countries’ share of global GDP should finally converge with their share of the world’s…

The real GDP growth of the Democratic Republic of the Congo on the basis of production output at the end of September 2018 would be 4.1% according to the Central Bank (BCC), the same pace of wealth creation previously estimated in terms of data available at the end of June. Up 0.4 percentage point from 2017, this level, according to the conclusions of the 11th meeting of the Monetary Policy Committee (CPM) held on December 21, 2018 in Kinshasa, is mainly due to the performance of the primary sector driven by the extractive industries. The Central Bank has also called…

Announced since September 2016, the measure of the Central Bank of Congo (BCC) which triples the minimum capital of banks takes effect on January 1, 2019. This new standard which should come into effect in 2017 was delayed by the institute of emissions . “The minimum capital of banks is fixed at the equivalent in Congolese francs of 30,000,000 USD. Banks in activity, whose core capital as defined by the Central Bank of Congo are less than this minimum capital, have a period of 12 months to raise the funds to the required regulatory level, “said Governor Deogracias Mutombo in…

The Central Bank of Nigeria (CBN) announced on Monday (December 24th) that it has resolved its dispute of more than $ 8 billion with MTN, the South African mobile phone operator that it accuses of illegally releasing cash flows from the country. violation of the exchange regulations. In a late-night statement, the institute, which last August ordered the group to repatriate $ 8.13 billion, said MTN had provided additional information and documents, clarifying its remittances made between 2007 and 2015. All legal proceedings opened in the context of the case will therefore be suspended, he said. According to local media,…

The People’s Central Bank (BCP) has obtained the authorization of the Moroccan Capital Market Authority (AMMC) for the release of 2 billion dirhams (nearly 200 million euros) of subordinated debt over the period from 13 as of December 17, 2018. According to the information, the total amount of the issue is spread over 4 tranches. The issue covers 20,000 subordinated bonds with a par value of MAD 100,000, and is exclusively reserved for institutional investors under Moroccan law. “All tranches are ultimately refundable and have no guarantees. The total amount of the transaction awarded on the different tranches must not…

Closed and abandoned since 1989, the legendary Lincoln Hotel will soon come to life again under the colors of the French group Réalités which has just won the call for expressions of interest for the acquisition, redevelopment, renovation and operation of the establishment based in Casablanca (Morocco). With a surface area (SDP) of 9,500 m ², the programming planned by the group which has just opened a subsidiary in Morocco will include 2 000 m ² of shops and offices, 124 rooms of 4 to 5 stars, as well as a restaurant, a swimming pool and a rooftop, says Réalités.…

After Orange in late November, it is the premises of Airtel Niger that the tax closed on Friday in Niamey for non-payment of taxes. According to the local press, the subsidiary of the Indian group Bharti is sanctioned by a tax adjustment of 62 billion CFA francs (94 million euros), and should pay 15% of the fine no later than 7 December 2018 before start any negotiations. The country’s largest telephone operator, present since 2001, holds more than 51% of the market and contributes, economically, “to the national boom of Niger with more than 200 direct jobs and nearly 50,000…

The National Industrial Credit Bank (NIC) group and Commercial Bank of Africa have announced that they are in talks about a possible merger between the two banks. “The boards of directors of both banks believe that combining the activities of two highly profitable entities would create increased capacity to seize strategic growth opportunities, through capital consolidation and strong liquidity,” they said in a statement. Joint communiqué released December 6, 2018. Eventually, the new structure will have to “invest heavily in new technologies,” “optimize products for customers” and “generate higher returns,” according to the two institutions. The announcement triggered a 32.45%…

On Thursday, December 6, the Board of Directors of the International Monetary Fund (IMF) authorized an immediate disbursement of $ 22 million in Benin, after the third review of the agreement under the Extended Credit Facility (ECF). . The decision follows a preliminary agreement reached between the two parties in early November 2018. According to a statement released on Friday, this amount brings to about $ 88.1 million, the total disbursements under the three-year agreement (totaling $ 154.2 million) approved in April 2017 and which aims to support the country’s economic and financial reform program, raise living standards and preserve…

According to official data from the Central Bank of Morocco, inflation stands at 1.1% year-on-year at 31 October 2018, and thus remains unchanged compared to the rate recorded in September. “The decline in prices of volatile food products rose to 3.7% after 3.5% while the rate of increase in fuel and lubricant prices accelerated from 7.4% to 8.1%. %. For their shares, tariffs for regulated products continued to grow at the same pace observed in September, a rate of 2.7%. Excluding these products, underlying inflation stood at 1.2% after 1.4%, “says the central bank. Moreover, she says, the price index…

Mozambique is forecasting growth of 4.7 percent of GDP by the end of 2019, according to an announcement made on December 4, 2018 by Prime Minister Carlos Agostinho do Rosario. Presenting the Government’s Economic and Social Plan for next year in parliament, Carlos Agostinho do Rosario said that this growth will be driven by agriculture (+ 5.5% in 2019), fisheries and the extractive industry . “These three sectors will experience significant growth in 2019 and the highest growth rate of 14% is expected in the mining industry, followed by fishing (6%) and agriculture (5.5%),” he said. said Augusto Fernando, the…

By Nephthali Messanh Ledy, Special Envoy to Nairobi It was at the Radisson Blu in Nairobi that the 14 winners of the L’Oréal-Unesco For Women In Science program in sub-Saharan Africa started this Tuesday in Kenya, the various activities included in the program of this 9th edition. Coming from five countries in sub-Saharan Africa (Ghana, Mauritius, Kenya, Nigeria and South Africa), these fellows benefit from a training program designed to complement their scientific background. They will also have a research grant ranging from 5,000 euros to 10,000 euros at a ceremony on Thursday 6th December. Organized by the L’Oréal Foundation,…

The South African National Institute of Statistics (StatsSA) announced Tuesday (December 4th) that the country has officially emerged from the recession, after growing 2.2% in the third quarter of the current year. From 2.6% in the first quarter to 0.7% as of June 30, 2018, the GDP owes its new rise to the improvement of industry, agriculture and the transport sector, according to the Institute of the statistical. A few months before the legislative elections, this increase is a boon for President Cyril Ramaphosa, successor to Jacob Zuma. In particular, he promised to revive the economy of the most…

Bank of Kigali does not intend to deploy full banking in Nairobi in the short and medium term, reports the local press quoting Diane Karusisi, the director general of the institution on the move in the Kenyan capital. “The Kenyan market is already very competitive. So we really want to meet the needs of our market (Rwanda) before thinking about venturing into new markets in the region, “she said. “We still have a lot of opportunities in our national market. It’s a market we know very well, “she added. With a representative office operating since 2013 in Nairobi, the group…

The Coordination, Audit and Accounting Expertise Trustee tate & associés, an accounting, auditing, consulting, studies and training firm based in Lomé (Togo) commemorates the beginning of December 2018, the 25 years of its activities. The FICADEX INTERNATIONAL network is a network of nearly thirty firms located both in Europe and in Africa and whose “noble ambition”, it is said, is “to play an important role in the exercise. and the development of their profession “. Indeed, its African, European and international presence makes it possible to intervene in different languages ​​and to provide solutions to the multiple needs of companies…

The Central Bank of Tunisia (BCT) announces having signed, Friday, November 16, two cooperation agreements with its Moroccan sister, Bank Al-Maghrib. According to a statement issued on the Tunisian Broadcasting Institute on its website, the first concerns the formalization of the general cooperation between the two institutions in a conventional framework to serve future cooperation actions, and the second relates to cooperation in banking supervision and information exchange. “Its purpose is to organize and implement cooperation actions between the two authorities, in particular in the fields of cross-border institution surveillance, on-the-spot checks, the handling of difficulties and bank resolution, the…

“Insurer, a poorly known job”. This is the title of an essay published this weekend by Magloire Dochamou, former director of insurance companies. According to the author, the title is an interpellation of all socioeconomic actors who can find some small recipes to act on the levers necessary for a better penetration of insurance in Africa. Indeed, he says, the insurance business and its operation remain largely unknown to the public. “This largely explains the low rate of insurance penetration in Africa in general and in the sub-Saharan zone in particular,” he says. Through this book published by the Editions…

In Ghana, the mobile operator, AirtelTigo, has entered into a partnership with BIMA, the provider of mobile health and insurance services, with the aim of offering products mainly related to life insurance, hospitalization or accident. “The new partnership with BIMA further consolidates our financial inclusion proposals and is another innovation in the Ghanaian telecommunications industry,” said Murphy Chaganti, AirtelTigo Ghana’s Director of Operations at the inauguration of a joint office. . With an offer of 10 pesewas (about $ 0.03) a day, the insurance program covers 2 million people in Ghana. It offers customers the ability to process their payment…

Heads of State and Government of the African Union (AU), about fifteen, are in conclave since Saturday in Addis Ababa for an extraordinary summit on the reform of the institution. In his opening address, the organization’s chair, the organization’s chairman, Moussa Faki Mahamat, said that “this reform is also and above all a matter of political will,” after having praised the efforts already made in this direction. Despite the road traveled, he insisted, many of the projects open to reform remain to be concluded. And call on heads of state to take into account the need for the Commission to…

Held Friday, November 16 in Libreville, the first cabinet without the President Ali Bongo Ondimba, hospitalized, adopted a draft text authorizing the State to contract a loan equivalent to 19.8 billion CFA francs from from China Construction Bank Corporation. Presented by the Minister of the Economy, Foresight and Development Programming, this operation, according to the executive, is part of the financing plan for the construction of the Palais des Sports Libreville. This is the first cabinet meeting held in the absence of Ali Bongo Ondimba since his disputed re-election in August 2016. He was led by his vice-president Pierre-Claver Maganga…

Between Brazzaville and the International Monetary Fund (IMF), the agreement on a possible financial arrangement under the Extended Credit Facility (ECF) is still far. Witness the statement issued by the institution at the end of a new mission in the Congolese capital. Officially, the mission was in Congo to continue the discussions. “The planned program, supported by the ECF, is intended to help the Republic of Congo restore macroeconomic stability and achieve higher and more inclusive growth,” the statement said. In particular, he continues, the program seeks to restore debt sustainability and provides for a wide range of reforms to…