Author: The Editorial Staff

The African Export-Import Bank (Afreximbank) has finalized the increase of its reserve-based lending facility granted to Oando Oil Limited, bringing the total amount to $375 million. With this increase, Oando is strengthening its capacity to play a leading role in the revival of oil production in Nigeria, with expected effects on employment, infrastructure, and technological development in the sector, according to a statement released on Monday, July 1. In July 2025, Afreximbank, with the support of Mercuria Asia Resources PTE Limited, concluded the extension of the facility, presented as a strategic pillar in Oando’s capital management. This partnership will enable…

According to the Cameroonian Minister of Finance (Minfi), Louis Paul Motaze, “despite a 15% to 17% increase in the price of a barrel on the international market, Iranian refineries have not been affected. The pump price therefore remains stable in Cameroon.” Translation: the conflict between Israel and Iran will not lead to an increase in fuel prices in Cameroon. Louis Paul Motaze made this statement on June 30, 2025, in front of members of the finance and budget committee of the National Assembly who were concerned about this issue. From official sources, it is learned that the Minfi’s intervention before…

The board of directors of the Banque de l’habitat de Côte d’Ivoire (BHCI) confirmed Karna Patrice Coulibaly as the managing director during its meeting on May 23, 2025. He had been appointed acting managing director in July 2024, following the resignation of Désirée Eliane Yace. This unanimous decision of the board, it is believed internally,...

The Tunisian Parliament approved, on Tuesday, July 1st, a €50 million loan agreement granted by the French Development Agency (AFD) to the Tunisian State. This financing is intended to modernize the National Office of Civil Protection and strengthen its intervention capabilities in the face of natural disasters. This loan, granted in the form of equipment...

Cape Verde has officially been reclassified as an upper middle-income country, according to the criteria of the World Bank Group. The new classification was published on Tuesday, July 1, 2025 by the institution. This reclassification is mainly due to a significant increase of 16.8% in gross national income (GNI) per capita between 2023 and 2024....

African Rail Company has signed a $3.6 million contract with the Indian company RITES, specialized in transportation consulting and engineering, aimed at modernizing the railway networks in Zimbabwe, Mozambique, and Botswana. As part of this agreement, RITES will provide two fully refurbished Cape Gauge ALCO diesel-electric locomotives. These equipment, suitable for the narrow gauge tracks...

In Cameroon, in 2024, the State managed to contain the price of domestic gas thanks to a subsidy of 52.6 billion XAF (approximately 93 million USD), an increase of 10.1 billion XAF compared to the 42.5 billion XAF (75 million USD) spent in 2023. The announcement was made by the Minister of Trade, Luc Magloire...

ENGIE North Africa has appointed Rik De Buyserie, a Belgian national, as Chief Executive Officer, succeeding Loïc Jaegert-Huber. This strategic change at the helm of the regional subsidiary is in line with the Group’s ambitious growth policy in a key region for energy transition. In a statement released on Wednesday, July 2, ENGIE emphasized that...

During its ordinary session on June 30, 2025 in Yaoundé, the Monetary Policy Committee (MPC) of the Bank of Central African States (BEAC) maintained the level of its key interest rates. According to the final communiqué of the meeting, “the interest rate on open market operations (TIAO) remains fixed at 4.5%, while the marginal lending...

Out of the 22 commercial banks licensed by the State of Cameroon as Specialists in Treasury Securities (SVT) on the public securities market of the Bank of Central African States (BEAC), four (Société Générale, Attijariwafa Bank through its local subsidiary SCB Cameroon, Ecobank, and Afriland First Bank) have been selected to lead the transaction of...

By Professor Abderrahmane Mebtoul, University Professor, International Expert, Doctor of State (1974) in Management, Chartered Accountant from the Higher Institute of Management in Lille, France. The official exchange rate of the dinar went from 4.94 dinars for 1 dollar in 1970 to 5.03 dinars in 1980. In 2001, it was 77.26 dinars for 1 dollar and 69.20 dinars for 1 euro. In 2005, the rates were 73.36 dinars for 1 dollar and 91.32 dinars for 1 euro; in 2010, 74.31 dinars for 1 dollar and 103.49 dinars for 1 euro; in 2015, 100.46 dinars for 1 dollar and 111.44 dinars…

Johannesburg, July 1, 2025 – GCR Ratings (GCR), the leading credit rating provider in Africa, has announced the appointment of Nicole Gibb as Group Head of Ratings and Research. This appointment marks a strategic milestone in the agency’s evolution, one year after its 100% acquisition by Moody’s Corporation. With over twenty years of experience in financial services, Nicole Gibb has held leadership positions at several renowned institutions, including Absa Group, Fitch Ratings, Rand Merchant Bank, and Commerzbank. Until recently, she was the Head of Credit for Non-Bank Financial Institutions at Absa, with broad responsibility for portfolios of banks, financial institutions,…

By Claver Gatete, Executive Secretary of the Economic Commission for Africa. While 600 million Africans still lack access to electricity, the continent faces a major energy deficit, especially in rural areas. To achieve the goal of universal access to electricity by 2030, between 70 and 80 million people would need to be connected each year. However, Africa, which represents 17% of the world’s population, only produces 3% of global electricity. This “energy poverty” hinders industrialization, limits progress in health and education, and hampers economic transformation, even as the continent exports uranium and other essential resources for electricity production in other…

The African Development Bank (AfDB) has approved a $474.6 million loan to South Africa to modernize its infrastructure and green projects. This loan, intended for the Infrastructure Governance and Green Growth Program (IGGGP), is expected to help the country intensify its efforts towards a sustainable, low-carbon economy. This amount is in addition to the $1.5...

The Moroccan National Tourism Office (ONMT) and China Eastern Airlines signed a strategic agreement on Monday, June 30 in Rabat to boost the promotion of Morocco in the Chinese market. The agreement was signed during an official ceremony presided over by Fatim-Zahra Ammor, Minister of Tourism, Crafts, and Social and Solidarity Economy, in the presence...

The African Development Bank (AfDB) and the Asian Infrastructure Investment Bank (AIIB) have signed a new memorandum of understanding to strengthen their cooperation in favor of sustainable economic development in Africa. The announcement was made in a statement released on Monday, June 30. This new agreement, signed by the President of the AfDB Group, Akinwumi...

Senegal aims to become a leading technological hub in West Africa through various initiatives, including the Demo Day of the “Challenge+ Dakar” program, whose second edition was held on Tuesday, July 1st in Dakar. Led by HEC Paris, in partnership with the Delegation for Rapid Entrepreneurship of Women and Youth (DER/FJ) and the Embassy of France in Senegal, the event brought together investors, economic decision-makers, institutional partners, and key players in African innovation. At the heart of this 2025 edition were 17 start-ups representing 7 key sectors (education, environment, agriculture, services, culture, communication, and real estate), led by 21 entrepreneurs…

In Morocco, the index of producer prices in the sector of “Manufacturing industries excluding petroleum refining” recorded a decrease of 0.1% in May 2025 compared to April 2025. According to data published on Monday, June 30 by the High Commission for Planning (HCP). This decrease is the result of a 0.7% decrease in prices of...

The African Development Bank (AfDB) approved, on June 27 in Abidjan, a trade financing facility totaling 25.5 million euros in favor of the Banque Générale de Mauritanie (GBM). This initiative aims to strengthen the financing capacities of the Mauritanian bank for the benefit of large companies, SMEs, and women entrepreneurs in the country, according to...

Banque du Caire has announced that its first cumulative equity fund has exceeded the symbolic threshold of one billion Egyptian pounds in assets under management for the first time (approximately $20.2 million). This performance ranks the fund among the largest in the Egyptian market in terms of size and places it in the exclusive circle...

Annual inflation in Kenya remained stable at 3.8% in June 2025, the same rate as recorded in May, but higher than in June 2024. This was revealed in the report on the Consumer Price Index (CPI) published on Monday, June 30 by the Kenya National Bureau of Statistics (KNBS). This moderate increase in prices is...

On July 1, 2025 in Riyadh, the capital of Saudi Arabia, a significant transition took place at the helm of the Arab Bank for Economic Development in Africa (BADEA). After over a decade of leadership, Mauritanian Dr. Sidi Ould Tah handed over the reins to Kuwaiti Abdullah ALMUSAIBEEH. The decision was formalized last April at the annual meeting of the Board of Governors. This handover comes at a time when BADEA is experiencing unprecedented momentum. Since taking office in 2015, Sidi Ould Tah has orchestrated a profound strategic transformation of the institution: tripling of capital, threefold increase in transaction volume,…

In the first quarter of 2025, agricultural activity in the Senegal River valley (North of the country) is marked by an 8.1% increase in credits allocated to producers by the Agricultural Bank (LBA) North Zone for the 2025 hot dry season campaign, according to data from the Directorate of Forecasting and Economic Studies (DPEE) based...

The Agency for the Promotion of Congolese Middle Classes (APROCM) and Access Bank DRC officially signed a strategic partnership of 25 million US dollars on Saturday, June 28 in Kinshasa, aimed at strengthening the financial inclusion of Congolese Small and Medium Enterprises (SMEs), which often face significant challenges in accessing financing. Signed within the framework...

The African Development Bank (AfDB) approved, on Monday, June 30, 2025, financing of over 300 million euros for Morocco, aimed at supporting entrepreneurship, strengthening economic resilience, and improving governance in the face of climate change. This funding, approved by the AfDB Group’s Board of Directors, is divided between two key programs: 181.8 million euros for...

Egypt is about to finalize the privatization strategy for 11 of its airports, including Hurghada International Airport, the country’s second busiest in terms of traffic. Structured as a public-private partnership (PPP), this operation is supported by the technical assistance of the International Finance Corporation (IFC), a member of the World Bank Group. This program is...

From the School of Mines to global connectivity networks… Born in Aioun, in eastern Mauritania, Ibrahima Ba took his first steps in the national education system, between Bassiknou, Atar, Aioun, and Nouakchott. After his baccalaureate, he went to study medicine in Dakar, but then switched to mathematics and physics. The events of 1989 forced him to leave the country to continue his studies in France, where he joined the École Nationale Supérieure des Mines de Saint-Étienne. His final internship took him to the Argonne National Laboratory in the United States, where he worked on superconductivity. He was then hired as…

The International Bank for Industry and Commerce of Benin (BIIC), now listed on the BRVM under the symbol BICB, continues its momentum. According to the financial results for the year 2024, the institution recorded a net profit of 30.3 billion FCFA, an increase of 11% compared to the 27.3 billion FCFA achieved in 2023. This performance confirms the growth momentum initiated by the bank, which reached a decisive milestone in April 2025 with its resounding introduction to the regional financial market. The analysis of the income statement for the year ended December 31, 2024 reveals a banking activity in clear…

On June 30, 2025, Africa Global Logistics (AGL) Congo announces the participation of 6 employees in the Aspire Leaders Program training. This is a high-level training on leadership and professional skills development, aimed at young people aged 18 to 29 and delivered by professors from Harvard University. “The participants undergo a transformative program to become inspiring leaders. It is a rewarding program with a very high level of demand and delivered in English. I am proud of our 6 employees who have been selected alongside young people from around the world. They work within the Finance, Human Resources, and Operations…

The Burkinabe mining sector has just reached a decisive milestone with the production of the first gold ingot from the Kiaka mine on June 26th. This milestone marks the official entry into the production phase of one of the country’s most ambitious mining projects, led by the Australian company West African Resources (WAF). Weighing 5.7...