Author: The Editorial Staff

In the first quarter of 2025, Senegal’s trade deficit decreased by 305.5 billion CFA francs (550 million dollars), according to data from the Direction of Forecasting and Economic Studies (DPEE) based in Dakar. This trade deficit stands at 238.9 billion CFA francs, due to the increase in goods exports (+173.3 billion) combined with a decrease in imports (-150.2 billion). “Thus, as highlighted by the DPEE in its conjuncture note, during this period, the import coverage rate by exports is estimated at 85.5% compared to 69.0% the previous month.” During the first quarter of 2025, goods exports are estimated by the…

Isuzu East Africa, a regional vehicle assembler, plans to test the Kenyan electric vehicle (EV) market with the launch of its first battery-powered truck before the end of the year. The company is positioning itself to meet the country’s evolving transportation needs as part of a broader global transition towards sustainable mobility solutions. In an interview with Financial Afrik, Rita Kavashe, Chairperson of the Board and Managing Director of Isuzu East Africa, stated that one of the main concerns regarding the introduction of a new electric vehicle to the Kenyan market and the reason it took them some time before…

New face at the helm of the Central Bank of the Congo (BCC). By presidential decree made public this Wednesday, July 23, André Wameso was officially appointed governor of the issuing institute, succeeding Malangu Kabedi Mbuyi. This appointment marks a new milestone in the career of a technocrat known for his rigor and expertise in economic management. Until his appointment, André Wameso held the position of deputy chief of staff to the head of state, in charge of economic and financial issues. Before joining the Presidency in April 2021, Mr. Wameso had been one of the five roving ambassadors of…

While Angola is striving to stabilize its declining crude oil production, the country has reached a new milestone with the start of the Begónia project, which will contribute 30,000 barrels per day to national production. The announcement was made on Wednesday, July 23 by the National Agency for Oil, Gas and Biofuels (ANPG). Located about 150 kilometers off the coast, Begónia represents the country’s first inter-block subsea development, connecting blocks 17 and 17/06 at depths ranging from 800 to 1,200 meters. The project connects five subsea wells to the existing infrastructure of the FPSO Pazflor, located in block 17, for…

The Congolese government continues the modernization of the N’djili International Airport, a strategic gateway to the Democratic Republic of the Congo. A major project, estimated at $570 million, includes the construction of a new state-of-the-art terminal of 50,000 m², capable of accommodating up to 5 million passengers per year, compared to around 800,000 currently. It...

Santam Limited, one of South Africa’s leading general insurers, has received principle approval from Lloyd’s of London to establish a reinsurance syndicate based in the United Kingdom. This authorization is subject to meeting operational requirements set by Lloyd’s. South African regulatory approvals have already been obtained, while final underwriting approval is expected in the fourth...

For the first six months of 2025, cement manufacturer Lafarge Africa Plc reported a profit after tax of 132.7 billion naira (88.5 million USD), a significant increase compared to the 29.4 billion naira (19.6 million USD) recorded in the same period in 2024. Revenue also increased by 75%, reaching 517 billion naira (344.7 million USD),...

The Kenyan government has officially launched its very first fertilizer insurance program, a joint initiative between the Ministry of Agriculture and several private sector partners. This innovative scheme aims to protect smallholder farmers against climate-related risks, such as drought and floods, while enhancing the resilience of the agricultural sector. Developed in partnership with Pula Advisors,...

DP World Trade Finance has mobilized over 1 billion USD in working capital for businesses based in emerging markets, according to a company statement released on Wednesday, July 23rd. This financing was made possible through DP World’s exclusive loans and partnerships with over 32 financial institutions, including J.P. Morgan, Standard Bank, and Nedbank. The initiative aims to address a portion of the global trade finance gap, estimated at 2.5 trillion USD by various international institutions. DP World’s model is based on integrating financing into its logistics operations. The company provides both capital and real-time visibility on supply chains, enabling faster…

The Guarantee Fund for Priority Investments (FONGIP) signed three major agreements on Tuesday, July 22, with the Ministry of Tourism and Handicrafts of Senegal. This triggers a new dynamic of regional financing to allow regional financial institutions to play a central role in supporting the hospitality and crafts sectors, which are strategic but often penalized...

The Nigerian Senate has approved President Bola Tinubu’s plan to borrow over $21 billion in external loans to fill the deficit in the 2025 federal budget, announced Solomon Adeola, chairman of the credit committee, on Tuesday, July 22. The borrowing program includes loans of 4 billion euros (approximately $4.7 billion), 15 billion Japanese yen (approximately...

The Oyass Capital fund, born from a strategic partnership between FONSIS (Sovereign Strategic Investment Fund of Senegal) and the German bank KfW as part of the G20’s Compact with Africa initiative, launched its first operations on Tuesday, July 22 by injecting 2.7 billion CFA francs (4.5 million USD) into two Senegalese SMEs with high potential:...

Breton Technology, the African subsidiary of the 15th Metallurgical Construction Group, a Chinese state-owned company, delivered around thirty fully electric mining trucks to a copper extraction site in Zambia on Sunday, July 20, 2025. This initiative marks the first large-scale deployment of this type of vehicles on the African continent. These vehicles, designed to operate...

The Actuarial Society of South Africa (ASSA) has launched a unique framework to help life and health insurers assess the impact of climate change on mortality and morbidity. This new tool, developed by a group of actuaries, aims to model the health effects of extreme weather events on policyholders, especially in the most vulnerable areas...

The Nigerian economy recorded a 3.13% year-on-year growth in the first quarter of 2025, according to the National Bureau of Statistics (NBS), which recently revised its GDP calculation base to better reflect the current economic structure. The gross domestic product is now estimated at 372,822 billion naira (approximately 243.7 billion dollars), after a rebase from...

A new page is turned, another is written with determination and ambition. The Brown Family, led by the vision of Mr. Eddie Ford BROWN, shareholder and former Regional CEO French-speaking Africa of Prudential Africa, announces the total takeover of activities resulting from the joint venture between Prudential plc and the Beneficial Group, initiated in 2019, and the birth of a new entity: Belife Insurance. As a result of a strategic decision shared with Prudential Plc, this turning point marks the Brown Family’s commitment to continue the mission initiated since 1974 in Africa. All of Prudential Plc’s operations in French-speaking Africa,…

“GTA Assurances, a subsidiary of the Banque Centrale Populaire (BCP) Group, has handed over two modern sanitary blocks to the public primary schools Centrale C/E and Gadjanga, located respectively in the prefectures of Blitta and Agou. Intended for more than 1,400 students, this program aims to ensure a healthy and inclusive educational environment, an essential factor for academic success, especially for young girls. This action is part of the three-year community engagement plan launched in 2022 by GTA Assurances, in partnership with the Ministry of Primary and Secondary Education of Togo. It reflects GTA Assurances’ commitment to sustainably support public…

Ghana has reached a major milestone in the fight against climate change by transferring 11,733 tons of carbon credits to Switzerland, becoming the first African country to issue credits compliant with the Paris Agreement. This operation, considered the largest in the world in terms of volume of carbon credits registered in this framework, was carried out through Ghana’s national carbon registry and transferred to the Klik Foundation via the Swiss emission trading registry. It is part of a bilateral agreement signed in 2020 between the two nations, in accordance with Article 6 of the Paris Agreement. These carbon credits, called…

In her forward-looking vision to position her country and make the country’s seaport more attractive, the new president of Namibia has succeeded in attracting the Nigerian oil giant Dangote Petroleum Refinery, which has announced its intention to build a major oil terminal in the strategic port of Walvis Bay. Aliko Dangote, Africa’s richest man, is preparing to build fuel storage tanks with a capacity of at least 1.6 million barrels of gasoline and diesel. These tanks will supply countries in Southern Africa, including Namibia, Botswana, Zambia, Zimbabwe, and potentially the southeastern part of the Democratic Republic of the Congo, positioning…

In Gabon, the World Bank has some reservations about acquiring stakes in companies. This information is revealed in a conjuncture note recently made public by the international financial institution. The note mentions some of these acquisitions, such as “the acquisition, through the state-owned company Gabon Oil Company (GOC), of two oil producers, Assala Energy and...

The reduction of the protection deficit against natural disasters requires increased mobilization around innovative insurance solutions, participants affirmed at a parallel event organized within the framework of the G20 in South Africa. The event, held on July 17, 2025 in Durban, emphasized the central role that insurance can play in managing climate risks and the...

In order to stimulate American investments in the Democratic Republic of Congo (DRC) and modernize the mining sector through the use of advanced technologies, the Congolese government signed a principle agreement with the American company KoBold Metals on July 17, 2025 in Kinshasa. The agreement aims to strengthen cooperation in the field of mining exploration,...

According to the results of the liquidity offer of 430 billion CFA francs (762 million USD) issued on July 15, 2025 by the Central Bank of Central African States (BEAC) to commercial banks in the countries of the Economic and Monetary Community of Central Africa (CEMAC), they expressed needs of 639.1 billion CFA francs (approximately...

Three commercial banks operating in Cameroon want to take control of the Cameroonian subsidiary of the French banking group Société Générale by buying the shares currently held by the State (83.68%), following the agreement reached between the two parties and announced on July 15, 2025 by the Cameroonian Minister of Finance, Louis Paul Motaze. These banks are BGFIBank, NSIA Bank, and Zenith Bank. These credit institutions would like to take advantage of the government’s willingness, expressed by the Cameroonian Minister of Finance, Louis Paul Motaze, to open the capital of Société Générale Cameroon “to national and/or international financial partners”. First…

In Chad, a presidential decree signed on July 7, 2025 puts an end to the existence of the National Electricity Company (SNE), created in 2011, to make way for Tchadienne d’électricité (TchadElec), which becomes the public concessionaire of electrical energy in the country, with 100% of its shares owned by the Chadian state. This transformation...

Mozambique has obtained support from the World Bank for the construction of the Mphanda Nkuwa hydroelectric power plant, a $6.4 billion project aimed at strengthening its position in the regional energy market. The World Bank’s financial contribution is estimated at $1.4 billion, mainly for transmission lines and guarantees and assurances necessary to mobilize private financing. With a capacity of 1,500 megawatts, the project is part of Mozambique’s strategy to become a major electricity exporter within the Southern African Development Community (SADC). Mozambican President Daniel Chapo declared that the country aims to become an energy hub for the region. The infrastructure…

The Insurance Regulatory Authority of Uganda (IRA) has called on taxi drivers to take out car insurance, especially for third-party liability, in order to protect themselves against unforeseen risks and protect their loved ones. This call was made by the Director General of the IRA, Alhaj Kaddunabbi Ibrahim Lubega, during an awareness session held at the Insurance Tower with members of the Uganda Taxi Operators Federation (UTOF). This initiative aimed to better explain how third-party liability car insurance works and inform drivers about ongoing reforms. The goal is to increase the rate of enrollment in this mandatory insurance. The IRA,…

The Central Bank of South Sudan (BoSS) has taken a major step in digitizing the national economy by announcing, on July 18, 2025, the official recognition of Mobile Money as a legal means of payment for the purchase of goods and services throughout the country. This decision is part of the BoSS’s strategic plan for...

The Nigerian banking sector shone at the Euromoney Awards for Excellence 2025, with the ceremony taking place on July 17th in London. Two heavyweights of the country, Zenith Bank Plc and Wema Bank, were recognized, showcasing the strength and innovation of the Nigerian financial system on the international stage. Zenith Bank was awarded the prestigious title of “Best Bank in Nigeria”. This award reflects its outstanding performance, commitment to excellence, and ability to generate significant value for its customers and shareholders. The bank stands out for its consistency: leading in Tier-1 Capital for the sixteenth consecutive year according to The…

The Nairobi Stock Exchange (NSE) has received approval from the Capital Markets Authority (CMA) to remove the requirement of a minimum of 100 shares per transaction. Starting from August 1, 2025, investors will be able to buy and sell shares individually. According to the NSE, this measure aims to broaden access to the stock market,...