Author: The Editorial Staff

The Federation of African National Insurance Companies (FANAF) is preparing for a major deadline. In February 2026, at its 50th General Assembly scheduled in Abidjan, the pan-African organization will have to appoint its new president to replace Gabonese Cesar Ekomie Afene, who has been in office since 2020. Two figures in the sector are already emerging: Ivorian Mamadou G.K. Koné and Senegalese Mamadou Faye. Currently the president of the Association of Insurance Companies of Côte d’Ivoire (ASACI), Mamadou G.K. Koné heads Sanlam Allianz CI, an entity resulting from the merger of two insurance heavyweights. Re-elected as the head of ASACI…

London, June 27, 2025 – The international group Gerald, specialized in metal trading, has issued a warning against two tender offers issued by the Congolese company Soremi SA for the sale of 10,000 tons of copper cathodes and 40,000 tons of zinc ingots. According to Gerald Group, these tender offers are deemed illegal, issued without valid authorization, and in violation of several court decisions made in the jurisdictions of Hong Kong and the British Virgin Islands (BVI). Soremi SA, operating in the Boko Yanga mining corridor in the Republic of Congo, is a subsidiary of Soremi Investments Ltd (SIL), a…

Abidjan, June 27, 2025 – The Board of Directors of the pan-African industrial group Eranove has endorsed the appointment of Ahmadou Bakayoko as Chief Executive Officer, replacing Marc Albérola, who held the position since 2009. This relay, presented as a strategic transition, marks a new milestone in the group’s trajectory, active in the management of public electricity and water services in Africa. “After 16 years at the helm of Eranove, I proposed a governance transition to allow the Group to continue its development, in a logic of continuity and operational excellence,” said Marc Albérola. He said he was “happy to…

The Congolese Senate approved, on Wednesday, June 25, 2025, during a plenary session in Brazzaville, the ratification of a new financing from the World Bank (WB) aimed at strengthening budget management and inclusive growth in the Republic of Congo. With an amount of 46.3 billion CFA francs (equivalent to 70.6 million euros), this third support...

Ethiopia will start exporting crude oil to the international market for the first time in its history starting from September, according to Prime Minister Abiy Ahmed speaking in a discussion with industry stakeholders and journalists. This East African country began its oil extraction and exploitation activities six years ago. After a long period of preparation,...

By enacting four major tax laws on June 25, 2025, Nigerian President Bola Tinubu is leading the country in a structural overhaul of its public revenue mobilization policy. These texts, praised by business circles and economists, aim to improve tax collection, reduce regulatory distortions, and boost the economic competitiveness of a country grappling with a...

Algeria aims to export one million tons of green hydrogen per year by 2040. The announcement was made by the Director of Exploration at the Ministry of Energy, Sofiane Dekkiche, on Thursday, June 26, 2025, on the sidelines of the 12th edition of the scientific and technical days (JST) of Sonatrach, the state-owned company responsible...

The State of Senegal, through its Public Treasury, raised an amount of 225.5 billion CFA francs (406 million dollars) on the West African Monetary Union (UMOA) financial market on Friday, June 27, 2025, following a targeted auction of Treasury assimilable bonds (BAT) with a maturity of 364 days and assimilable Treasury bonds (OAT) of 3 and 5 years. The Senegalese Public Treasury had put up for auction an amount of 205 billion CFA francs and received total bids of 264.302 billion CFA francs, representing a coverage rate of 128.93%. Out of the total bids, the issuer retained 225.5 billion CFA…

On June 21, 2025, in Parakou, Paulin Akponna, then Minister of Energy, Water, and Mines, caused a stir by publicly denouncing a massive embezzlement of public funds within his ministry. Referring to “tens of billions” of CFA francs that had disappeared, he blamed his predecessor, Samou Seïdou Adambi, without naming him. Since no evidence was provided, his statements were deemed untimely at the highest level of the state. Five days later, on June 26, his dismissal was officially announced by decree, in the absence of President Patrice Talon, who was currently on a trip to Brazil. José Tonato was appointed…

Libreville, June 27, 2025 – BGFI Holding Corporation, the parent company of the pan-African banking group BGFIBank, is preparing to take a major strategic step with its listing on the Central African Securities Exchange (BVMAC) scheduled for July 15, 2025. The operation, which could raise between 80 and 100 billion CFA francs, marks a turning point in the trajectory of this financial institution present in more than ten African countries and in Europe. Held in Libreville on June 25, the Extraordinary General Meeting of shareholders endorsed three key decisions: the IPO, a capital increase of 15.7 billion CFA francs, and…

Al Ahly Pharos, the investment banking arm of the National Bank of Egypt (NBE), announced its collaboration with Arab African International Bank to lead the second securitization bond issuance under the twelfth Capital Securitization program, worth 4.7 billion Egyptian pounds (approximately $100 million). In this operation, Al Ahly Pharos and Arab African International Bank act...

Burkinabe state-owned enterprises achieved remarkable performances in 2024, with a total revenue of 3,090 billion CFA francs (approximately $5.51 billion), compared to 1,910 billion in 2023, representing a 61.7% increase. This growth is attributed to the integration of new state-owned companies and the improvement in the performance of existing enterprises, according to an official report...

The World Bank has approved additional financing of $41.3 million, through the International Development Association (IDA), to strengthen the economic inclusion of undereducated or uneducated Beninese youth. The announcement was made in a statement released on Wednesday, June 25. This additional funding will support the implementation of the Youth Inclusion Project (PRODIJ), with the aim...

AXIAN Telecom, the pan-African telecommunications giant, has reached a new strategic milestone with the successful issuance of a $600 million bond, with the price set on June 25, 2025. The oversubscribed operation resulted in the issuance of senior notes due in 2030 with a coupon of 7.250% and a yield of 7.375%, below the initial forecast of 7.875%. This tightening of conditions reflects the sustained interest of investors, with the order book reaching nearly three times the proposed amount. The operation allows AXIAN Telecom, present in nine African markets including Tanzania, Madagascar, Uganda, and the DRC, to refinance its existing…

Ivory Coast has reached a new milestone in its strategy to add value locally to cocoa with the inauguration, on Thursday, June 26, of the industrial complex TRANSCAO PK 24, located in the commune of Anyama, north of Abidjan. The inaugural ceremony was presided over by the Vice President of the Republic of Ivory Coast,...

Kenyan start-up Peach Cars has raised $11 million in a Series A funding round led by Suzuki Global Ventures (SGV), aimed at transforming the African used car market through a digital platform focused on trust, transparency, and accessibility. The round brought together several Japanese institutional investors. Suzuki Global Ventures, the venture capital arm of Suzuki...

As the curtain falls on Professor Benedict Oramah’s presidency, the numbers and achievements attest to a profound transformation of Afreximbank, both financially and strategically. At the helm of the institution since June 2015, the Nigerian economist leaves behind a solidly capitalized bank, expanded in its missions, and has become essential in the African financial landscape. Unprecedented financial results Between September 2015 and April 2025, Afreximbank’s assets and guarantees multiplied by eight, reaching $43.5 billion. Annual revenue increased from $408 million to $3.24 billion, while net profit reached $1 billion in 2024, compared to $125 million a decade earlier. Equity jumped…

On the eve of the formal General Meetings of the African Export-Import Bank (Afreximbank), scheduled for June 28 in Abuja, Nigeria, all eyes are turning towards the succession of the outgoing president, Professor Benedict Oramah. While the process remains shrouded in strict secrecy, several reliable sources mention Cameroonian Dr George Elombi as the favorite to lead the institution. Quiet but influential, Dr Elombi has been serving as Executive Vice President in charge of corporate governance and legal services since 2015. Recruited in 1996, he is considered an institutional memory of the bank, having accompanied its gradual expansion for nearly three…

The International Monetary Fund (IMF) has approved an immediate disbursement of approximately $758 million to Ivory Coast, under the programs supported by the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF). The announcement was made in a statement released on Wednesday, June 25. According to the IMF,...

AXIAN Telecom, the pan-African telecommunications giant, has reached a new strategic milestone with the successful issuance of a $600 million bond, priced on June 25, 2025. The oversubscribed operation resulted in the issuance of senior notes due in 2030 with a coupon of 7.250% and a yield of 7.375%, below the initial forecast of 7.875%....

The British government has ended its support for the Xlinks project, which was supposed to transport solar and wind energy from Morocco to the UK via a nearly 4,000 km long underwater cable, the longest in the world. Estimated at 25 billion pounds (33 billion USD), this mega project was supposed to cover up to...

The Zambian economy grew by 4.5% in the first quarter of 2025, up 2.3 points from the same period last year, the Zambian Statistics Agency announced on Thursday, June 26. This performance is mainly attributable to the strong momentum in several key sectors, including agriculture, forestry and fishing, as well as mining and quarrying, information...

The pan-African banking group Ecobank Transnational Incorporated (ETI) has launched a $250 million fundraising through the issuance of additional Tier 1 (AT1) equity instruments, aimed at strengthening its capital base and supporting its strategic growth. This decision follows an extraordinary general meeting (EGM) held in late May in Lomé, Togo, during which shareholders approved the...

Russian President Vladimir Putin gave his approval on Tuesday, June 24, to the agreement allowing Egypt to repay in rubles the $25 billion loan it obtained from Russia for the construction of the Dabaa nuclear power plant. This strategic project is being carried out by the Russian state-owned company Rosatom on the Egyptian Mediterranean coast....

The Central Depository/Clearing Bank (DC/BR) of the West African Monetary Union (UMOA) gathered economic press actors in Abidjan on Wednesday, June 25 for an exchange session. This meeting is part of an educational approach aimed at popularizing ongoing structural projects in the regional financial market. At the heart of the discussions: speeding up the settlement-delivery cycle, a strategic issue for the modernization of the regional financial market.

The government of the Democratic Republic of Congo (DRC) raised $55.107 million, according to the results of an auction held on June 24, 2025. This operation, organized by the Ministry of Finance, was based on the issuance of three-month Treasury bills, exceeding the initial target of $40 million with a coverage rate of 140.32%. This...

In its Economic Outlook Note 2025 published this Thursday, June 26, the World Bank paints a contrasting picture of the Gabonese economy. While GDP growth reached 2.9% in 2024, mainly supported by the oil sector and the resumption of public works, this progress remains insufficient to stop the worsening of poverty, which now affects more than a third of the population (34.6%). According to this report, the economic rebound recorded last year is mainly based on traditional drivers: hydrocarbons and public investments. Inflation has indeed decreased, but the deterioration of public accounts, linked to the drop in oil revenues and…

Throughout the 32nd General Assemblies of the African Export-Import Bank (Afreximbank) in Abuja, the Gabonese Minister of Economy, Finance, Debt and Public Investments, Henri-Claude Oyima, was highly sought after and engaged in strategic commitments. The highlight of his participation was the securing of a concessional loan of $200 million, aimed at supporting ongoing economic reforms in Gabon. This long-term financial support contributes to strengthening the government’s capacity to stabilize its budgetary balances while boosting productive investment. Following this, Minister Oyima signed a Memorandum of Understanding (MoU) worth $3 billion with Afreximbank. This ambitious partnership aims to support the development of…

Special envoy to AAM2025 – Abuja In a packed room at the Transcorp Hilton in Abuja, at the heart of the 32nd Annual Meetings of Afreximbank, Jason Miller, former communication strategist for Donald Trump, delivered a sharp – sometimes unsettling, often impactful – vision of the future relations between Africa and the United States. It was neither a diplomatic speech nor a conventional address, but a political statement tinged with an assumed commercial strategy: for Miller, it is no longer the time for promises, but for partnerships. Trump’s former advisor begins by outlining a continent on the verge of takeoff.…

The economic capital of Ivory Coast is hosting, since this Wednesday, June 25, the sub-regional symposium of media from the West African Economic and Monetary Union (UEMOA), bringing together economic journalists from the eight member states of the organization. The event, organized by the UEMOA Media Platform, is taking place on June 25 and 26,...