Author: Rédaction Financial Afrik

Press Release Casablanca, Kingdom of Morocco, November 12 2024 – Amid an unprecedented reconfiguration of the African financial industry, the Africa Financial Industry Summit (AFIS) 2024 will bring together private sector leaders and government representatives from across the continent and around the world with one goal: to develop strategies that enable African finance to become a driver of development, economic growth, and resilience. The event, founded by Jeune Afrique Media Group in 2021, co-hosted by the International Finance Corporation (IFC), hosted with the with the Ministry of Economy and Finance and Bourse de Casablanca will take place this year in…

Banjul, The Gambia – October 23, 2024 The Institute for Inclusive Digital Africa (IIDiA) and the Central Bank of The Gambia (CBG) are holding a technical training workshop on the Mojaloop real-time payment switch. This intensive capacity-building program, supported by the Bill & Melinda Gates Foundation, will empower Gambian financial institutions with essential skills to implement and operate this interoperability infrastructure. From October 23 to November 1, 2024, IIDiA and Mojaloop will host an intensive training program in Banjul. The workshop will focus on providing technical expertise in Mojaloop’s open-source tools and technologies, ensuring that participants—including Digital Financial Service Providers, Microfinance Institutions,…

Kenya has settled the balance of $556.97 million of the 2014 Eurobond that was maturing in June 2024, using a part of the proceeds of a $1.2 billion World Bank loan. The Central Bank of Kenya has said in its latest weekly briefing that the move has pushed the reserves above the four-month statutory requirement...

Kenyans from around the world have taken to the streets to protest against the Finance Bill for the second week, even as the government says it is open to dialogue. The diaspora communities in Washington, DC are up in arms to reject the finance bill that has introduced a raft of new taxation measures including...

The proceedings of the first regular session of the Council of Ministers of the West African Monetary Union (WAMU) for the year 2024 began this Thursday, March 28 in Dakar. Gathered at the headquarters of the Central Bank of West African States (BCEAO), several items are on the agenda, notably the examination of the report...

The Eighth Regional Forum for Sustainable Development (ARFSD 2022) concluded today, with the adoption of the Kigali Declaration on Good Practices and Solutions to Strengthen the Implementation of the Sustainable Development Goals in Africa . Adopted by the 54 Member States present, the Kigali Declaration urges African countries to link mutually reinforcing policies for sustainable development and post-COVID-19 recovery to ensure an inclusive exit from the pandemic. The document calls on African countries to take advantage of new tools, innovative solutions and technologies, including through strengthened partnerships with the private sector, academia, non-governmental organizations, civil society and other stakeholders. ,…

BH Assurance, an insurance company operating in Tunisia, signed, on March 2, 2022, a technological partnership agreement with Axxis Systems, the Spanish subsidiary of ERP insurance, for the overhaul of its information system. Presented as a leader in the digitalization of the insurance sector in the country, the insurer indicates that it declares itself, through...

The Algerian Fund for Start-ups (AFS) has granted 510 million Algerian dinars (about 3.5 million USD) in financing to initiators of innovative projects, said its director of participations, Hachani Okba, on March 5, 2022 in Algiers. . According to the official who was speaking at the 2nd edition of the National Conference of Start-ups, the...

The course of the price of a barrel of oil continues impetuously. Consequence of the sanctions imposed on Moscow in the context of the war in Ukraine. Indeed, the data show a rise in the price of a barrel of Brent from the North Sea to 139.13 dollars on Sunday March 6 around 11 p.m....

Since December 20, the share price of Ecobank Transnational Incorporated (ETI) on the Regional Stock Exchange (BRVM) of the West African Economic and Monetary Union (UEMOA) has left its floor value of 13 CFA francs, on which it had been frozen for 18 months. The stock has since moved in a very volatile fashion. In the space of two months, the title has experienced variations of up to +100% (going from 13 F CFA to 27 F CFA), then equally marked declines, until returning in recent days to levels close to the floor price, with a last price quoted at…

It is through a press release published Thursday, March 3 that the Senegalese Ministry of Foreign Affairs and Senegalese Abroad informs that it has sent to the Ukrainian ambassador in Dakar, a note of verbal protest against a process of enlistment of volunteers to help Kiev against the Russian military offensive. Serious facts, according to...

Albert Ouédraogo, economist and specialist in business development and management, was appointed Prime Minister of Burkina Faso on Thursday 3 March. An announcement made by presidential decree six weeks after the January 24 coup. Originally from Dori, a city in the north-east of the country, the new tenant of the prime minister, a civilian as...

Inflation continues to panic the counters in the Uemoa zone. Its rate fell from 6% in December 2021 to 6.5% in January 2022 according to data from the monthly statistics bulletin published on Wednesday March 2 by the Central Bank of West African States (BCEAO). By country, Mali records the highest rate with 8.7%. It...

The UN General Assembly voted Wednesday, March 2, a resolution condemning the Russian military intervention in Ukraine. Of the 193 member countries of the Organization, 141 countries (including 28 in Africa approved the text), against 5 five who voted against. These are Russia, Belarus, North Korea, Syria and Eritrea, the only African country in this list. For their part, 35 States abstained. Among them, China and 14 African states: Senegal, Mali, South Africa, Angola, Algeria, Uganda and Tanzania, among others. In detail, this resolution “deplores in the strongest terms Russia’s aggression against Ukraine” and affirms “its attachment to the sovereignty,…

The International Finance Corporation (IFC), a member of the World Bank Group, announced on February 28, 2022, the appointment of Kyle Kelhofer as Senior Regional Representative for Benin, Ghana, Liberia, Sierra Leone and Togo . The American thus succeeds Ronke-Amoni Ogunsulire and will have to focus on supporting private sector growth, job creation and post-Covid-19...

The African Union (AU) spoke out, on February 28, 2022, on the accusations of racist behavior which are multiplying at the borders of Ukraine. Saying in particular “concerned” by the “shocking and racist” reports according to which Africans wanting to leave the country at war against Russia are the subject of different treatment. In a...

The work of the national assizes of the texts of the constitutional charter of the transition in Burkina Faso ended on the night of Monday February 28 to Tuesday March 1. The document subsequently signed by Lieutenant-Colonel Paul-Henri Sandaogo Damiba (photo) provides for a period of three years for the transition from the date of...

The war in Ukraine weighs on African currencies. Naira jostled by port chaos. The CEDI is losing ground against the dollar. The Rand rebels. The Egyptian pound immunized by the Chinese vaccine. The Kenyan Shilling blames expensive oil. Headwinds on the Ugandan shilling. The Tanzanian Shilling bets on gas. The Ugandan Shilling bets on Europe. Here are the trends of the main currencies of Africa for the week of February 28 to March 06, 2022 presented by AZA Finance, the largest non-bank foreign exchange broker in Africa, with a transaction volume of more than 1 billion dollars per year. War…

The current events in Ukraine, invaded since Thursday, February 24 by Russian troops, do not leave the United States and the European Union, two great allies of Kiev, indifferent. Both parties have decided to wage war on Russia by hitting it on the wallet, even if they do not intervene militarily on the ground. On...

The inaugural act of the celebration of the 45th anniversary of the African Guarantee and Cooperation Fund (Fagace) took place this Thursday, February 24 in Cotonou. It was in the presence of the director general of the institution, the representative of the Beninese Minister of Economy and Finance, partners of the institution and personalities at various levels. It is, according to the director general, Ngueto Tiraina Yambaye, a ceremony that launches the celebration. In his opening speech, he paid tribute to the founders of Fagace before recalling the chronology of its creation. “The only thing missing in the link of…

Uhuru Kenyatta formalized, Thursday, February 24, his support for the candidacy of Raila Odinga, his former opponent. The Kenyan president has indeed called on his supporters to vote for the 76-year-old presidential candidate scheduled for August 9. This support is announced at the expense of the current vice-president, William Ruto, candidate of the United Democratic...

The Central Bank of Kenya (CBK) launched this Wednesday, February 23, the National Payments Strategy at an event that brought together representatives of key regional and international institutions. The document covers the period 2022-2025 and aims to consolidate the gains made since then in the Mobile Money sub-sector, and “to pave the way towards a...

The Togolese authorities signed, on February 22, 2022 in Lomé, a memorandum of understanding with the Saudi Fund for Development (FSD) concerning the financing of two projects of the Togo 2025 government roadmap. agricultural land in Mission Tové and the rehabilitation of the Adagali -Atakpamé road. “This memorandum, which illustrates the quality of relations between...

Bank of Uganda (BoU), Uganda’s central bank, kept its key rate at 6.5% this month, with the aim of containing inflation to 5% in the medium term while supporting the recovery of economic growth. The latter, after contracting by 1.5% in 2020, rebounded at a rate of between 6.5 and 7% in 2021 according to...

Commercial International Bank’s consolidated net profit for the full year 2021 was approximately EGP 13.3 billion (approximately USD 845 million), at EGP 6.10 per share, up 30% compared to the year 2020. Data contained in a press release published on February 21, 2022 by the Egyptian bank on its activities for the 4th quarter of...

The explosion of a stockpile of dynamite left at least 59 people dead and several injured on the afternoon of Monday February 21 at the Gomgombiro gold panning site market in the village of Gbomblora, in western Burkina Faso . A provisional report communicated by the official information agency and national television which quote a...

The updated data confirms that the Rwandan economy has maintained a recovery trajectory towards achieving the projected annual growth of 10.2%. This is according to a document published on February 17, 2022 by the country’s central bank. Indeed, details the issuing institute, the Rwandan economy is recovering thanks to “relevant measures” and the “successful vaccination...

The gross domestic product (GDP) of Nigeria, the largest economy on the African continent, grew by 3.98% year-on-year in real terms in the 4th quarter of 2021 according to data from the National Bureau of Statistics (NBS). Against an achievement of 4.03% in the previous quarter, and 3.87% in the 4th quarter of 2020. This...

➢ Africa50 has made an investment in PAIX Data Centres, a company that owns and operates a pan-African carrier-neutral data center platform. PAIX Data Centers today announced the completion of a $20 million Africa50 equity investment in PAIX Data Centers (PAIX). The funding is the first tranche of Africa50’s Series B investment in PEACE, which will be dedicated to expanding the company’s data center capacity and its growth plans in new African markets. Since its creation in 2016, PAIX has built a solid reputation thanks to the high quality of service and the operational efficiency of its data centers which…

In this interview conducted on the eve of the European Union-African Union summit, economist Carlos Lopes discusses the crucial issues of a relationship that needs to be rebuilt on new foundations. What is the state of Europe-Africa economic relations on the eve of the summit described by the most optimistic as the summit of refoundation? As is the case for several regions, the pandemic has caused a halt to commercial relations as well as investments. The current trade balance is not favorable to Africa. The trade deficit in 2020 is estimated at 23 billion euros. But it must be remembered…