Author: The Editorial Staff

“Our priority today is to restore the human connection” As CEO of Sunu Bank Togo since January 2024, Bénito Fado shares, in this extensive interview with Financial Afrik, his analysis of the Togolese banking sector. The leader also addresses several other key points including the crisis the bank experienced earlier this year, the outlook and challenges of the former Banque Populaire de l’Epargne et du Crédit. What is your analysis of the Togolese banking sector since joining SUNU Bank Togo? The Togolese banking sector is one of the most dynamic in the sub-region. There is intense competition, particularly due to…

SUNU Assurances Nigeria PLC has unveiled its forecast for the period ending on September 30, 2025. The company expects a strong growth in its activity, with a significant increase in its gross premiums, but anticipates a decrease in its net profitability. According to the published estimates, gross premiums issued are expected to reach 14.57 billion...

The construction of the High Grand Falls dam, with a cost of 337 billion Kenyan shillings (approximately $2.61 billion), has been halted, announced the Kenyan Ministry of Finance. It is a hydroelectric power plant planned on the Tana River, the country’s largest river, harnessing the energy of the Kibuka Falls. The High Grand dam was...

On July 11, 2025, the day before the deadline set by Cameroonian electoral law, President Paul Biya convened the electoral body by decree for the presidential election scheduled for Sunday, October 12, 2025. The announcement was made on the airwaves of the National Radio and Television Office (CRTV). Following this decree, and according to electoral...

The AFMA group continues its growth strategy in the Moroccan insurance market by taking full control of the company SAFE ASSUR SARL. The operation, which involves the acquisition of the remaining 49% of shares, now allows AFMA to hold the entirety of the company’s capital and voting rights. This takeover was announced in a statement...

The Malian government seized over a ton of gold, valued at $117.2 million USD, belonging to the Canadian mining giant Barrick Gold Corporation. According to the company based in Toronto, army helicopters landed without warning on Thursday, July 10, at the Loulo-Gounkoto gold complex site to carry out this seizure. This latest operation marks a...

The works of the second annual ordinary session of the council of ministers of the West African Economic and Monetary Union (Umoa) were launched at the national headquarters of the Central Bank of West African States (BCEAO) by Ivorian Adama Coulibaly, president of the institution, this Friday, July 11 in Lomé. The meeting takes place in “an international context marked by rising uncertainties, notably fueled by commercial and geopolitical tensions, as well as the persistence of security challenges in our region,” said the Minister of Finance and Budget of Côte d’Ivoire. “Within our zone, economic activity has nevertheless remained dynamic.…

The United Bank for Africa (UBA) banking group, following its semi-annual review held at its global headquarters in Lagos, announced new initiatives aimed at consolidating its position as a leading banking player on the African continent and beyond. Through this operation, UBA intends to accelerate its expansion strategy in key markets on the continent and...

The Cameroonian government will seek the local banking system for a loan of 250 billion CFA francs (446 million USD) with the guarantee of the African Export-Import Bank (Afreximbank). This is what has been planned in the amending budget that the State is preparing to submit to the deputies, to modify the 2025 State budget...

Abidjan is hosting, since Thursday, July 10, a high-level workshop focused on mastering the complete cycle of green, social, and sustainable (GSS) bonds. Organized jointly by the Global Green Growth Institute (GGGI) and the Regional Stock Exchange (BRVM), the event is part of a partnership initiated in April 2024. Speaking about West African countries, Olola...

From July 7 to 8, 2025, Libreville hosted the Gabon Economic Forum, a high-level meeting initiated by the Ministry of Economy and Finance, bringing together public and private stakeholders to chart a path for a new development model that is ambitious, inclusive, and sustainable. This strategic forum focused on three major areas: enhancing priority sectors, local resource transformation, and a profound reform of public finances. Participants formulated concrete and bold recommendations to build a resilient and competitive economy. Key proposed measures include: – Adoption of a structured sectoral strategy around agriculture, forests, mining, digital, and tourism; – Economic transparency through…

Brazzaville, July 8, 2025 – Mr. Thierno-Habib Hann, Managing Director of the Shelter Afrique Development Bank (ShafDB), carried out an official mission in the Republic of Congo on July 7 and 8, 2025, under the high patronage of His Excellency Denis Sassou N’Guesso, President of the Republic and one of the founding fathers of the pan-African institution. Received in audience by the Head of State, Mr. Hann received reaffirmed support for Shelter Afrique’s mission. President Sassou N’Guesso praised the strategic role of the Bank in the development of the continent and encouraged the continuation of its efforts in favor of…

Flutterwave, a pan-African fintech giant, has just obtained approval from the Central Bank of West African States (BCEAO), allowing it to offer all of its services in Senegal, thus consolidating its presence in West Africa. With this license, Flutterwave is now able to provide its full range of digital payment solutions, including collection services, mobile...

The Middle East and Africa (MEA) are among the most dynamic emerging markets in the insurance sector in 2024, according to the report “Global Insurance in 2025: A Riskier and More Fragmented Global Order” published by the Swiss Re Institute (SRI). The region has stood out with above-average growth, contrasting with the slowdown observed in...

The Congolese Treasury intends to raise a total of 70 million FCFA (121 million USD) on the public securities market of the Bank of Central African States (BEAC) through eight Cameroonian banks approved as Specialists in Treasury Securities (SVT). Indeed, Afriland First Bank, Commercial Bank Cameroon (CBC), United Bank for Africa (UBA), Ecobank, Société Générale,...

On July 8, 2025, the fintech company Cauri Money, based in Paris and Dakar, announced its establishment in Cameroon through Gajo Money, an electronic wallet designed to facilitate money transfers, payments, and access to basic financial services for Cameroonians living abroad. To do so, and to access the national financial system, Cauri Money has partnered...

After being listed on the Egyptian Stock Exchange (EGX) in June, becoming the first consumer credit company to enter this market, ValU has received initial approval from the Central Bank of Jordan to launch its Buy Now, Pay Later (BNPL) services in the country. The company emphasizes that Jordan represents a rapidly growing market for digital financial services, with consumers increasingly seeking accessible payment tools tailored to their needs. “Expanding into Jordan with our BNPL services is a major step forward, unlocking new opportunities for consumers and merchants,” said Habiba Naguib, Valu’s Market Expansion and Strategy Director. This expansion is…

Since its creation on April 20, 2009, the Deposit Guarantee Fund in Central Africa (Fogadac) had been in hibernation until its Board of Directors, chaired by the Governor of the Bank of Central African States (BEAC), revived it. Indeed, this body held its very first regular meeting on June 24, 2025 in Bangui, the capital...

In his circular letter concerning the preparation and elaboration of the budget bill for the year 2026, signed on July 7, 2025, Chadian President Mahamat Idriss Deby Itno dedicated the operationalization of the National Debt Recovery Company (SNRC) aimed at improving the management of the country’s public finances in 2026. After the approval of the...

The Organization of the Petroleum Exporting Countries (OPEC) predicts a sustained increase in global oil demand in the medium and long term, despite a temporary slowdown linked to China. In its World Oil Outlook 2050 report, the organization anticipates a nearly 19% growth in oil demand by 2050, reaching 123 million barrels per day. By...

The Nigerian insurance market experienced strong growth in 2024, with gross written premiums (GWP) reaching 1.56 trillion nairas (approximately 1.02 billion dollars), according to data published by the Nigerian Insurers Association (NIA). This figure represents a 56% increase compared to the 1 trillion nairas collected in 2023. This growth was mainly driven by non-life insurance,...

In June 2025, monthly inflation in Egypt slightly decreased by 0.1%, after a surge of 9.1% observed in May, according to the latest data published by the Central Agency for Public Mobilization and Statistics (CAPMAS). This decline is mainly due to the decrease in prices of several basic food items. Meat and poultry prices dropped by 3.8%, while vegetable prices decreased by 1.0%. These declines helped offset the slight increases recorded in other categories: cereals and bread +0.3%, fish and seafood +1.1%, dairy products, cheese and eggs +0.1%, oils and fats +0.2%, fruits +0.5%, sugar and derivatives +0.4%, non-alcoholic beverages…

The Federal Government of Nigeria has secured a syndicated loan of USD 747 million, coordinated by Deutsche Bank, to finance the first phase of the Lagos-Calabar highway. This funding supports the ongoing work on the section connecting Victoria Island to Eleko village, which is 47.47 kilometers long and already 70% completed, according to Nigerian authorities....

According to a study evaluating the sustainable management of mineral resources in Cameroon, commissioned by the African Minerals Development Centre of the African Union and funded by the European Union Technical Assistance Facility (EU-TAF) as well as instruments of the African Continental Free Trade Area (AfCFTA), the Geological and Mineral Information System, covering the period from 1929 to the present, has some shortcomings. In addition to data considered mostly outdated, the evaluation mentioned above highlights that the lack of funding is an obstacle to carrying out geological mapping. There is also “insufficient standardization of data that are not consistently shared…

From July 9 to 11, 2025, Donald Trump is organizing a mini-summit at the White House with five African presidents. Namely, those of Senegal, Gabon, Guinea-Bissau, Liberia, and Mauritania. Officially, this summit aims to strengthen economic and security ties between the United States and these “strategic” countries on the African Atlantic coast. This is a...

WASHINGTON, July 9, 2025 — The World Bank has approved a concessional financing of 57.5 million euros as additional funding for the Program for Employment, Economic Transformation, and Recovery in Senegal focused on results. This financing will enhance support for the Senegalese government’s Accelerated Program for Competitiveness and Employment (PACE), a flagship initiative aimed at unlocking the potential of the private sector, creating jobs, and stimulating inclusive economic growth. The additional financing will expand the program’s scope in four key result areas: strengthening competitiveness, promoting the adoption of innovative technologies, improving access to financing, and fostering private investment. It will…

At the end of a simultaneous issuance of Treasury bills (BAT) with a maturity of 364 days and Treasury bonds (OAT) with maturities of 3, 5, 7, and 10 years, Mali, through its Public Treasury, obtained on Wednesday, July 9, 2025, an amount of 43.999 billion CFA francs (79.199 million dollars) in the West African...

The State of Senegal will proceed on July 26, 2025 to the payment of semi-annual profits and partial repayment of the capital of its Islamic bond named “SUKUK State of Senegal 6% 2016-2026” for an amount of 13.631 billion CFA francs (24.536 million dollars). The net profit amounts to 1.131 billion CFA francs and the...

BlueFive Capital, an international investment company, announced today that it has successfully closed the BlueFive Reef Private Equity Fund I. This $2 billion fund is registered in the Abu Dhabi Global Market (ADGM) and targets private equity investments in large-cap companies in GCC countries. The fund will be managed from Abu Dhabi and will focus on majority and minority investments in large and fast-growing companies and conglomerates in the United Arab Emirates and other GCC countries, with a focus on five key sectors: healthcare, technology, hospitality, aviation, and industry. The fund will leverage the momentum resulting from the region’s economic…

Sustainably mobilizing internal financial resources to finance priority public investments is one of the objectives put forward by the government of the Democratic Republic of Congo (DRC), which is preparing to create a Deposits and Consignments Fund. The new instrument will have an initial capital of 150 million US dollars, according to details provided by...