Author: The Editorial Staff

Sterling Financial Holdings Company Plc (Sterling HoldCo), the parent company of Sterling Bank, recorded a significant 157% increase in after-tax profits in the first half of 2025, reaching 41.78 billion nairas (53.9 million USD) compared to 16.26 billion (21 million USD) in the same period in 2024. These unaudited results, published on July 30 on...

AXA Mansard Insurance Plc, a subsidiary of global giant AXA, has released its financial results for the second quarter and the first half ending on June 30, 2025. These results reveal a marked decline in the financial performance of the Nigerian insurer, in a still constrained local economic context. In the second quarter of 2025,...

Former Nigerian President Goodluck Jonathan has been appointed to the position of United Nations Special Envoy for the global crisis. This historic appointment is supported by the five permanent members of the Security Council (United States, United Kingdom, France, China, Russia). The Nigerian will thus make history by becoming the first African to hold this...

The Board of Directors of the Central Bank of Tunisia (BCT) decided on Wednesday, July 30 to maintain the key interest rate at 7.50%, after having lowered it in March for the first time in five years. This decision comes in a context of gradual disinflation, but still uncertain. According to a statement published on...

First National Bank (FNB) has announced the appointment of Ghana Msibi as the new CEO of FNB Business. This change, the bank emphasizes in a statement released on Thursday, July 31, is part of a desire to accelerate the growth of local businesses, with a focus on innovation and expanding access to financing. FNB presents...

Antananarivo, July 31, 2025 – Ivorian banker Gervais Atta has been elected as the head of the Southern African Development Community Business Council (SADC Business Council), with unanimous support from the Malagasy employers’ organization. This appointment comes as Madagascar is preparing to assume the rotating presidency of the SADC at the state level for the current year. Comprising the main employers’ organizations of the 16 member states, the SADC Business Council serves as the official interface between the private sector and regional institutions. It plays a strategic role in economic integration, facilitating intra-regional trade, and promoting investment within the SADC.…

On July 31, 2025, Orabank officially inaugurated a new premium agency in the heart of Almadies, a prestigious neighborhood in Dakar favored by the economic and diplomatic elites. This strategic opening marks a new step in the upscale development of the banking network in Senegal, with the stated ambition of attracting a wealthy clientele composed of executives, entrepreneurs, and high-income individuals. Located on the prestigious Almadies road, the agency aims to showcase the group’s premium offering, combining contemporary design, refined customer space, and personalized services. It targets individuals with high potential and business leaders seeking wealth management advice, investment solutions,…

The African Development Bank (AfDB) approved on July 29, 2025, a loan of $144.27 million to Niger to support the first phase of an ambitious program aimed at improving access to energy, reforming the governance of the sector, and boosting the country’s economic competitiveness. Named the Support Program for Governance and Competitiveness in the Energy...

The International Air Transport Association (IATA) is calling on African governments to make aviation a priority lever for economic growth, social development, and connectivity. With an estimated contribution of $75 billion to the continent’s GDP and 8.1 million supported jobs, the African aviation sector is expanding, with an expected growth rate of 4.1% per year by 2044. “Support for aviation underpins employment, trade, and tourism,” said Somas Appavou, IATA’s regional director for Africa. During a virtual conference dedicated to Africa on Wednesday, July 30, the international organization defined three key priorities: first, improving safety and security. Despite progress, the implementation…

In a notice published in the official journal on July 28, 2025, the Tanzanian government has banned foreigners from participating in 15 specific types of activities, ranging from general trade to service provision such as travel, mobile money, hairdressing, media, and light industry. Other services include offering domestic, office, and environmental cleaning services, small-scale mining...

NEM Insurance Plc released its financial statement as of June 30, 2025, confirming a strong growth in its assets, which reached approximately 1.07 billion dollars (159.9 billion nairas), compared to around 812.9 million dollars (121.9 billion nairas) at the end of the 2024 financial year. This growth reflects a strong performance in the first half...

The General Authority of the Suez Canal Economic Zone (SCZone) has signed an investment contract with CWA Textiles, an Egyptian company specialized in spinning, weaving, embroidery, and knitting, to establish a new factory in Sokhna, southwest of Suez. The announcement was made on Wednesday, July 30th by the SCZone. With a value of 19.9 million...

To revive its national airline, Guinea is counting on an African investment company: Gewan Africa Holding. The Guinean Ministry of Transport announced on Wednesday, July 30, 2025, the signing of a memorandum of understanding with this Holding for the revival of Air Guinea. The Guinean Civil Aviation Authority (AGAC) and Gewan Africa have indeed signed...

Bangui, the capital of the Central African Republic, will host from July 30, 2025, until August 2, the African Caucus of the Bretton Woods institutions, namely the International Monetary Fund (IMF) and the World Bank. This is an annual meeting during which central bank governors and ministers from around twenty African countries, as well as...

The Ethiopia Agricultural Insurance Consortium (AICE) was officially launched by the Swiss company Pula Advisors. This ambitious initiative aims to extend index-based insurance to 3 million small-scale farmers by 2026. The consortium brings together five Ethiopian insurers, Nyala Insurance, Oromia Insurance, Abay Insurance, Ethiopian Insurance Corporation (EIC), and Africa Insurance Company. This initiative also benefits...

Crédit Agricole Egypt Bank (CIEB) has released its financial results for the first half of 2025, reporting a decline in profits compared to the same period of the previous year. For the period from January 1st to June 30th, 2025, the bank recorded a consolidated net profit of 3.554 billion EGP (approximately 74.0 million USD)...

to the Chadian government, the ten-year national plan for the circular economy (2025-2035), adopted on July 29, 2025, aims to reduce unvalued waste by 40%. Supported by the African Development Bank (AfDB), this plan aims to create more than 25,000 green jobs to strengthen access to electricity through local solutions, such as energy from waste....

an agreement signed in September 2024 between the Indian group Arise Integrated Industrial Platforms (Arise IIP) and the Autonomous Port of Douala (PAD), Cameroonian Prime Minister Joseph Dion Ngute launched construction works on July 24, 2025, by Arise IIP of a 500-hectare industrial zone in Douala, the country’s economic capital. The cost of these works,...

The energy transition in the Sahel region takes a new step with the announcement by the African Development Bank (AfDB) of a $7 million financing to support the construction of an 18 MW solar power plant in Dédougou, western Burkina Faso. This project is part of the Desert-to-Power initiative, a flagship program of the AfDB...

The trade deficit of Morocco increased by 18.4% to reach 162 billion dirhams (around 15.4 billion euros) at the end of June 2025, compared to the same period of the previous year, according to data published on Tuesday, July 29 by the Office of Changes. Imports grew by 8.9% on an annual basis to around...

Canal+ SA, a major global player in media and entertainment, has finalized its first credit line by raising over 285 million euros through its first Schuldschein loan. Announced by the group in a press release published on Tuesday, July 29, this oversubscribed financial operation comes a few months after its listing on the London Stock...

Ariana Resources plc, based in London, announced in May that the latest explorations on its Dokwe gold project, located in the Tsholotsho district in Zimbabwe, reveal a potential of over one million ounces of gold. Based on current metal prices, this resource would represent approximately $3.29 billion. This project, located 110 kilometers from Bulawayo, has...

Endeavour Mining, listed on the London Stock Exchange, as well as the producers Faboula Gold and Bagama Mining, have signed a memorandum of understanding with the Malian government to adopt the provisions of the new mining code, enacted in August 2023. This decision marks a turning point in the relations between the State and gold...

AM Best has confirmed the financial strength rating (FSR) of B- (Fair), the long-term issuer credit rating (Long-Term ICR) of “bb-” (Fair), as well as the Egyptian national scale rating of aa+.EG (Superior) of Egyptian Takaful Property and Liability Insurance Company (EGTAK), a joint-stock company based in Egypt. The outlook associated with these ratings remains...

Orange SA has revised upwards its profit forecasts for the year, boosted by sustained growth in Africa and the Middle East. Despite a slight decrease in overall revenue, this region is more than ever the main driver of the group’s performance. The announcement made on Tuesday, July 29th by the telecom group reports a 12.8%...

At the end of the 2024 fiscal year, Bank Al-Maghrib (BAM), the Moroccan Central Bank, achieved a profit of 6.459 billion dirhams (710.598 million dollars), announced the leaders of this issuing institute based in Rabat. Compared to the 2023 fiscal year where it stood at 5.105 billion dirhams (561.624 million dollars), this profit saw an increase of 27%. “The increase of +1.354 billion dirhams in net income is mainly explained by the growth in results from the management of foreign exchange reserves (+1.264 billion dirhams), the conduct of monetary policy (+840.729 million dirhams) and non-recurring income (+549.853 million dirhams),” explain…

Attawfiq Microfinance, a subsidiary of the BCP Group, has obtained the AML 30001 certification (2025 version), an international reference in the fight against money laundering and the financing of terrorism (LAB/FT) issued by the independent body COFICERT. This certification attests to the robustness of the compliance, governance, and internal control system implemented by the institution in the fight against money laundering and terrorism financing (LAB/FT). It evaluates the mechanisms adopted by Attawfiq Microfinance related to risk management, in compliance with international standards. With this distinction, Attawfiq Microfinance becomes the first microfinance institution in Morocco to be certified AML 30001. This…

Conakry, July 30, 2025 – Thiam & Associates advised Hillside Triumph as the sole advisor in its majority acquisition of the capital of LafargeHolcim Guinea, a leading cement producer in the Republic of Guinea. Following this strategic transaction, the company changes its name to Ciments de Guinée S.A., a name that reaffirms its national roots and historical presence in the local economy. This operation concerns one of the most successful assets of the LafargeHolcim group in West Africa. In a context marked by the growth of the mining sector and infrastructure in Guinea, this takeover paves the way for the…

Nairobi, July 31, 2025 – Shelter Afrique Development Bank (ShafDB) has signed a strategic agreement with the Arab Bank for Economic Development in Africa (BADEA) for a concessional financing of $120 million to support its capital increase program. This financing aims to enable eligible member states to settle and increase their subscriptions to the capital of the pan-African institution specializing in affordable housing and urban development. This innovative mechanism, supported by BADEA, offers cascade loans on competitive terms, thus facilitating the involvement of member states in strengthening the bank’s capital. The agreement marks a crucial step in consolidating the financial…

Africa Global Logistics Congo was awarded the CSR 2025 prize during a QHSE seminar organized by the Group, bringing together all representatives of this department in the countries where it is present, totaling more than 60 French and English-speaking collaborators. This trophy is awarded annually to one of the entities of the AGL group to reward its outstanding performance in implementing the group’s CSR policy. This distinction rewards the strong commitment of the Congolese subsidiaries of Africa Global Logistics to stakeholders and the numerous impactful actions carried out by each entity: AGL Congo and Congo Terminal. The strengths of the…