Author: The Editorial Staff

Egyptian delivery platform Breadfast has secured $10 million from the European Bank for Reconstruction and Development (EBRD) as part of the second closing of its Series B2 round, originally led by Novastar Ventures. This transaction values the company between $382 and $400 million. The funds will be used to strengthen distribution centers in Cairo, Giza,...

The Algerian Transport Insurance Company (CAAT) closed the 2024 fiscal year with a net profit of 837.8 million Algerian dinars (approximately 6.23 million USD). This was achieved in a highly dynamic and competitive national insurance market. Indeed, the sector maintained its growth in 2024, with a total turnover exceeding 181 billion Algerian dinars (approximately 1.35...

Standard Bank Group closed the first half of 2025 with a total profit of 24 billion rand (1.32 billion USD), up 6% year-on-year, and a return on equity (ROE) of 19.1%, at the high end of its annual target range (17-20%). This was reported by the group in its report published on Thursday, August 14. On the other hand, net banking income increased by 8%, driven by balance sheet growth, increased fee and trading income, as well as strict cost control. The group also announced an interim dividend of 7.80 rand (0.43 USD) per share, up 9%, reinforcing the confidence…

7% annual economic growth by 2027. This is the goal set by Nigerian president Bola Tinubu, with the ambition of lifting millions of Nigerians out of poverty. Furthermore, Nigerian authorities forecast a fourfold increase in the size of the economy by 2030. The announcement was made on Wednesday, August 13 by the head of state who, taking office in May 2023, has implemented radical measures including the removal of subsidies on fuel and electricity, and the devaluation of the local currency, the naira, twice in order to boost growth. One of the consequences of these actions is the exacerbation of…

During its meeting on August 12, 2025, the Council of Ministers adopted the Ordinance authorizing the Gabonese state to borrow 91 billion CFA francs (158.5 million USD) from the International Bank for Reconstruction and Development (IBRD). The approval of the Council of Ministers follows the loan agreement signed on July 18, 2025 for the financing of the Gabon Urban Development Project (PDUG) included in a comprehensive Gabon Infrastructure Development Program (PADIG). The latter aims to improve access to climate-resilient urban infrastructure, strengthen public facilities, and reduce flood risks in several cities in the country (Oyem, Lambaréné, Koulamoutou, Franceville, Mouila, Lebamba,…

The government of the Democratic Republic of Congo (DRC) and the Spanish club Barcelona FC announced at the end of July that they had reached a four-year agreement with the aim of promoting football and the culture of sport and peace. The initiative divides opinion, as it follows the signing of similar partnerships with AS Monaco and AC Milan in June. According to the announcement made by both parties, the Club will contribute, as part of this agreement, to enriching the training of young athletes in the country through the transmission of its ecosystem of values. It also includes the…

In Algeria, a new mining law, adopted last July, came into force on August 10, 2025, profoundly redefining the legal framework of the sector. Indeed, the text regulates mining activities, excluding hydrocarbons and water. It reserves the exploitation of mines for Algerian companies, relaxes foreign participation (removal of the 49/51 rule for mines but maintained...

The World Food Programme (WFP) is sounding the alarm. The UN agency announced on August 11, 2025, that it urgently needs $270 million to maintain its humanitarian operations in the Democratic Republic of Congo (DRC) from July to December 2025. This appeal comes at a time when humanitarian needs are exploding and funding prospects remain...

In June 2025, Senegal’s exports recorded a 9.6% increase compared to the previous month, according to data from the National Agency of Statistics and Demography (ANSD) based in Dakar. These data indicate exports amounting to 514.6 billion CFA francs (926.280 million dollars) compared to 469.7 billion CFA francs (845.460 million dollars) in May 2025. “This...

The outstanding bank credit in Morocco increased by 5.8% by the end of June 2025 compared to the same period in 2024, according to data from Bank Al-Maghrib (BAM), the Moroccan Central Bank based in Rabat. This outstanding amount stood at 1,175.5 billion dirhams (129.305 billion dollars) compared to 1,110.5 billion dirhams (122.155 billion dollars)...

rridors of Standard Bank, the announcement on August 14 was like a coded signal: Sim Tshabalala, CEO since 2013 and historical figure – the first black leader of the parent company – will leave at the end of 2027, along with his CFO, Arno Daehnke. Officially, it is a planned departure as part of a governance renewal. Unofficially, several internal sources mention a desire from the board to prepare for a faster transition than announced. The retirement age for executives has been raised from 60 to 63, but this measure will not apply to Tshabalala and Daehnke, who are kept…

“Our profitability remains one of the strongest on the continent” In this exclusive interview published in Financial Afrik magazine issue 122, Mustafa Rawji, CEO of Rawbank, discusses the exceptional results of the leading Congolese bank in 2024, its positioning in structured finance, the growing importance of the Illicocash application, the impact of the “20,000 SMEs” program, and the ESG ambitions of the institution. With a tone that is both direct and rooted in the Congolese reality, he advocates for a vision of a strong, inclusive bank focused on the future. Rawbank recorded a net banking income of 514 million USD…

Between Colonel Assimi Goïta, president of the Malian transition, and his Minister of Defense, General Sadio Camara, the simmering war is now out in the open. The two men, once allies in the coups d’état of August 2020 and May 2021, are now watching each other with barely concealed hostility. The night of the generals On the night of August 10-11, 2025, the National Guard – Sadio Camara’s original corps – was struck at its core: General Abass Dembélé, a respected figure of the Malian Armed Forces (FAMa), former zone commander in the North, governor of Mopti, wounded in the…

Ghanaian President John Dramani Mahama has appointed Professor William Coffie as the interim Managing Director of Cocoa Processing Company Limited (CPC), a key player in cocoa processing in Ghana. This decision comes at a time of significant financial losses and ongoing operational challenges for the company, which plays a crucial role in Ghana’s cocoa value...

For the 2025 campaign, the Ivorian government has set a minimum price of 250 CFA francs per kilogram for well-dried and sorted shea nuts at the farmgate. This measure, which is one of the key points of the new regulation, aims to ensure a fair income for the more than 152,000 women active in the...

The Nigerian economy confirms its diversification with a historical record of non-oil exports. In the first half of 2025, they reached $3.225 trillion, up 19.59% from the $2.696 trillion recorded in the same period in 2024, according to data released on Sunday by the Nigerian Export Promotion Council (NEPC). In terms of volume, shipments totaled...

The African Consumer Organization (ACO) officially launched its satisfaction survey project related to financial services on Tuesday, August 12. This initiative, carried out in 15 countries across the continent, aims to evaluate and improve the reception and satisfaction of financial services consumers. This includes assessing the terms of credit granting and recovery in financial institutions,...

As part of its strategy to combat inflation, the State of Gabon has agreed to the creation of a purchasing center called the “National Purchasing Center of Gabon (CEAG)”. The information was made public on August 12, 2025 by the government following the Council of Ministers held the same day under the chairmanship of the...

With 135,200 millionaires and 21 billionaires totaling nearly $2,500 billion in investable assets (2023 figures), Africa now represents a significant portion of global wealth – and the number of millionaires is expected to grow by 65% over the next ten years, according to the Africa Wealth Report 2024 by Henley & Partners/New World Wealth. Africa is witnessing the emergence of a new generation of fortunes, particularly thanks to booming sectors such as agro-industry, the financial sector, extractive industries, and digital technology. Faced with this unprecedented concentration of capital, a structural question arises: how can this wealth be transformed into sustainable…

Two executives of the African People’s Party – Ivory Coast (PPA-CI, opposition), including Lida Kouassi Moise, former Minister of Defense under Laurent Gbagbo, were brought before the Anti-Terrorism Section of the Abidjan Court on Monday, August 11, 2025. This measure follows acts of violence committed on August 1, 2025 in Yopougon, in the West of...

Statistics South Africa published data on Tuesday, August 12, highlighting an increase in the official unemployment rate. For the second quarter, the indicator rose to 33.2% at the end of June 2025, compared to 32.9% in March. Statistics South Africa notes in its publication that the number of unemployed people increased to 8.367 million in...

In a statement released on August 10, 2025, the African Refiners & Distributors Association (Arda) emphasizes that energy security is a vital imperative for the development of the continent. According to the pan-African organization for the downstream oil sector, energy sovereignty is not limited to infrastructure construction, but conditions the economic and social future of...

In a recent report, the African Development Bank (AfDB) reveals that in 2024, the volume of non-performing loans reached 205 billion CFA francs (around 357 million USD), up by 19.8% on an annual basis. The AfDB also reports that these loans now represent 10.2% of the total outstanding credits, compared to 8.6% in 2023. The...

During the African Caucus 2025 held in Bangui from July 31 to August 2, 2025, the Central African president, Faustin-Archange Touadéra, expressed his wish to see United Bank for Africa establish itself in the Central African Republic (CAR). This was during an audience granted to Tony Elumelu, CEO of the Nigerian group. The realization of...

Absa Bank Kenya PLC recorded a 9% increase in after-tax profit to 11.7 billion Kenyan shillings (79 million USD) for the first half of 2025, with a return on equity of 26.5%. Revenue stood at 31.5 billion KShs (213 million USD), slightly down due to lower interest rates, according to the bank’s financial report released...

As part of the Integrated Development and Development Program of the Dja Mining Loop (PADI-Dja), on August 12, 2025, the Cameroonian Minister of Economy, Planning and Regional Development (Minepat), Alamine Ousmane Mey, and the President of the Central African Development Bank (BDEAC), Dieudonné Evou Mekou, signed a financing agreement totaling 142.5 billion CFA francs (approximately...

The French mining group Eramet is adapting its strategy in Gabon in response to the new regulations announced by the Gabonese government, which plans to ban the export of raw manganese starting in January 2029. This legislative shift aims to encourage local processing of ores and strengthen national industrialization. In this context, Eramet announced on...

In its latest economic outlook on the country’s public debt, the Congolese Amortization Fund (CCA) informs that the Public Treasury must repay a debt of 1,072.6 billion CFA francs (1.9 billion USD) by the end of December 2025. “This amount represents the majority of the remaining annual effort, after a first part of the year...

Will this umpteenth attempt be successful? South Africa, trying to “bend” the United States, announced through its Minister of Trade, Parks Tau, that it will present a revised offer to Washington on Tuesday, August 12, as part of a trade agreement. The goal of this offensive is to reduce the 30% customs duty rate imposed...

In 2024, the net profit of insurance companies in Morocco increased by 2.9% to reach approximately €407 million, according to the 12th annual report on financial stability jointly published by Bank Al-Maghrib (BAM), the Insurance and Social Welfare Supervisory Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC). This increase is the result of the...