Author: Rédaction Financial Afrik

The 72nd session of the Board of Directors of BMS-SA held on November 30, 2021, proceeded to the appointment of a new Director General at the head of BMS-SA in the person of Mr. Lanfia KOITA, previously Special Advisor of the Managing Director of BMS-sa, replacing Mr. Alioune COULIBALY, former Managing Director of BMS-SA. The new Managing Director combines an academic background with a rich experience that makes him the ideal profile to consolidate good governance within BMS-SA, a national systemically important banking institution according to the WAMU Banking Commission. A native of Bamako, Mr. Lanfia KOÏTA is 49 years…

By Stéphanie Manguele, Lawyer at the Paris Bar, Senior Associate Thiam & Associés. On October 24, 2007, Law L2006 / 010 / AN relating to the fight against money laundering in the Republic of Guinea was promulgated. As its title indicates, this law was limited to defining the legal framework for the fight against money laundering. The financing of terrorism remained a legal vacuum to be filled. This has been done since August 17, 2021 with the adoption of Law 2021/04 / AN on the fight against money laundering and the financing of terrorism, which repeals and replaces the 2007…

In Burkina Faso, the military prosecutor announced on January 11, 2022, the arrest of several soldiers on suspicion of preparations for a coup. Information on which the Minister of the Armed Forces gave more details on Thursday 13th. “Two officers, 7 non-commissioned officers, one non-commissioned member and five civilians. And after the first hearings, three people were released, two civilians and one soldier. As a result, today, there are still twelve who are still in preventive detention for the purposes of the investigation, “said Minister Aimé Barthelemy Simporé without giving an identity. “We must remain calm, the army continues its…

West Africa Rating Agency (WARA) affirms the long-term rating of the Banque de l’Habitat du Senegal (BHS) at “BBB”. Simultaneously, on its international scale, WARA assigns to BHS the following ratings and outlook: iB / Stable / iw-6. According to the Agency’s press release of January 11, 2022, “this rating issued in December 2021 is three notches below the Senegalese national ceiling, which is – according to WARA – A’. The short term rating is “w-4”. The outlook attached to these ratings remains “stable”. BHS was created in 1979 by the State of Senegal in order to finance the real…

L’emprunt obligataire de 50 milliards FCFA 7,15% 2021-2028 émis par Oragroup SA a rencontré un franc succès avec un taux de souscription de 154%. La cotation a lieu ce vendredi 14 janvier sur le compartiment obligataire de la Bourse Régionale des Valeurs Mobilières (BRVM). Le montant collecté, destiné au financement du plan de développement de la banque, a été levé auprès d’une large palette d’investisseurs : compagnies d’assurance, caisses de retraite, OPCVM et investisseurs privés et particuliers. Les obligations ont une échéance de 7 ans avec une première date de paiement d’intérêt semestriel de 7,15% le 26 avril 2022 et un premier…

The group of financial institutions Emrald Securities Services (ESS) creates its new subsidiary called Emrald Securities Services Asset Management (ESS AM). Approved by COSUMAF under number MFAC-SGP-05/2021, its aim is to offer its individual and institutional clients a range of financial investment products via mixed, monetary and bond UCITS responding to different risk profiles and OPCIs. It also offers management under mandate. EMRALD SECURITIES SERVICES is the first independent financial group from the CEMAC zone to provide investors with both a brokerage firm (ESS Bourse which structured and centralized recent bond issues in Congo and Gabon) and a management company…

Experts from IHU Méditerranée Infection in Marseille, a facility run by Professor Didier Raoult, announced the discovery of a new variant of the coronavirus in early December in the south of France. According to media sources, twelve people were infected with this variant, tentatively called B.1.640.2. All tested positive in the same region and their tests showed an atypical combination, it is specified. Patient zero has returned from a trip to Cameroon, experts say. This new variant is currently under review. And is expected to join the coronavirus family, if confirmed.

West Africa Rating Agency (WARA) announces the publication of the fourth rating of Senelec (the National Electricity Company of Senegal). On its regional scale, WARA assigns Senelec a long-term rating of “A-“, in investment grade, while its short-term rating is “w-3”. The outlook attached to these ratings remains stable. Simultaneously, on its international scale, WARA affirms to Senelec the following ratings and outlook: iB + / Stable / iw-5. Senelec was created in 1983 to ensure the production, transmission, distribution and sale of electricity in Senegal. Despite having the status of a public limited company, Senelec is fully controlled and…

Here are the top 5 African Ministers of Economy and Finance. They are all new compared to the ranking of previous years with the exception of Beninese Romuald Wadagni, who was on the short list for the fourth consecutive year. In this exercise of appointing the best ministers, central part of the list of “💯 who are transforming Africa” and of the 18 winners of the Financial Afrik Awards trophies, some 25,000 duly listed voters (a first) cast their vote on a selection. initial made from the crossing of opinions of technical-financial partners (ADB, World Bank, IMF), rating agencies and…

Interview by Rodrigue Fénélon Massala, senior reporter. Businessman Oumar Diawara entered the daily life of Ivorians when he twice recently seized an Air Côte d’Ivoire aircraft in Bamako and Conakry. On the strength of his judicial victory against the State of Côte d’Ivoire, on the basis of a verdict pronounced by the Common Court of ECOWAS, coupled with an execution order, the Congolese-Malian is however faced with a justice Ivorian evolving in contradiction with community justice. Interview. How do you feel and how do you appreciate the verdict of the Ivorian justice which condemns you to 20 years in prison…

Mediterrania Capital Partners (MCP), a Malta-based private equity firm specializing in growth investments for SMEs and mid-sized companies in North Africa and Sub-Saharan Africa, announces, on December 19, the success of the IPO of TGCC, one of its portfolio companies. Founded in 1991 by Mohammed Bouzoubaa, TGCC has grown to become the national leader of the construction industry in Morocco, by carrying out large projects that cover several sectors of activity such as residential, hotel, commercial , industrial and infrastructure. The company has completed more than 1,000 projects since its inception, providing integrated design, engineering, procurement and construction services. TGCC…

Meeting Sunday, December 12 in Abuja (Nigeria), the Conference of Heads of State of the Economic Community of West African States (ECOWAS) discussed several subjects including that of the creation of a single currency called ” Eco ”. And has formulated a (umpteenth) call for the implementation of measures in this direction. “The Heads of State and Government take note of the state of macroeconomic convergence recorded within ECOWAS during the first half of 2021. They urge Member States to take the appropriate measures in order to comply with the provisions of the Pact of macroeconomic convergence and stability between…

Africa No Filter (ANF), an organization dedicated to changing the narrative about Africa, and Meta have announced a partnership to launch the “Africa of the Future: Telling Stories, Building Worlds” program, which aims to stimulate the use of virtual reality in storytelling in Africa. The program will provide grants and mentorship to help augmented reality storytellers develop new and compelling content about Africa. “Africa of the future: telling stories, building worlds”, is part of Meta’s desire to promote immersive technologies and joins Africa No Filter’s investments in innovative storytelling that changes negative stereotypes about Africa. Moky Makura, Executive Director of…

The ASEA conference saw 500 participants. Beyond the technicality of the debates, the integration of stock exchange platforms was approached but at the margin. For the most part, this 24th edition of the Annual Conference of the Association of African Stock Exchanges (ASEA) was a success. Organized under the theme “Financial markets, essential engines of the emergence of Africa”, this edition, hosted by the Casablanca Stock Exchange, was a platform for debate and discussion. The speeches of the plenary session confirm the driving role of African capital markets in the economic recovery of the continent. During the opening session, the…

In a press release sent to Financial Afrik, the friendly and all the staff of the Directorate of Taxes and Domains (DGID) protested and warned “the specialists of the plot and the conspiracy who attack their Director General and to their institution ”. This press release comes in response to press articles accusing the Director...

The startup Yassir announces that it has closed $ 30 million in Series A. The funds were raised from several investors, including WndrCo, DN Capital, DX Ventures (the investment subsidiary of Delivery Hero), Kismet Capital, Spike (Stanford Alumni ) Ventures and Quiet Capital. Endeavor Catalyst (Endeavor co-investment fund), FJ Labs, Venture Souq, Nellore Capital, Moving Capital (AKA the Uber Alumni Investment Club) and others also participated. Notable angel investors include Cleo Sham, former COO of Uber in Europe and China, Thomas Layton, chairman of Upwork and founder of Opentable and Metaweb, Rohan Monga, former COO of Gojek and Hannes Graah,…

The 2021 edition of the African Economic Conference, which kicks off on Thursday, December 2, is expected to provide an opportunity for heads of state and policymakers to share their views on how to reshape Africa’s development finance models . The Deputy Prime Minister and Minister of Finance of Cape Verde, Olavo Correia, declares that the said conference is “an extremely important opportunity” to chart the course for the development of the continent, including exploring ways to mobilize national resources and to create modern and efficient fiscal and fiscal regimes. He says this is especially important given the COVID-19 pandemic.…

Paris, November 29, 2021. Avisa Partners, an economic intelligence, international business and cybersecurity company, and 35 ° Nord, a communications and influence agency specializing in Africa, announce a capital combination. Since its creation in 2010, Avisa Partners has relied on a group of partners and high-level consultants, strong organic growth and numerous acquisitions to accelerate its international development, with an expected turnover of nearly 45 million. euros in 2021. Avisa Partners has 27 partners and 180 consultants and engineers in Paris, Washington, Brussels, London and Geneva. Founded in 2012, 35 ° Nord provides around fifty African and international clients a…

God Dollar watches over Africa against the Yuan. The Naira is losing ground, the Cedi under wraps, the Rand under pressure, the Egyptian pound on green, the Kenyan shilling abused, the Ugandan strong in coffee, the Tanzanian is chained to bonds. In this weekly column on African currencies, experts from AZA, the largest non-bank foreign currency broker in Africa, with a transaction volume of more than $ 1 billion per year, analyze the evolution of currency fluctuations on the continent. The United States seeks to renew its economic influence in Africa The United States is committed to rebuilding its relationship…

Libreville, GABON – November 24, 2021. The BGFIBank Group condemns in the strongest terms, acts contrary to the law and to ethics which could have been committed in the past within its subsidiary BGFIBank RDC SA, and of which its agents could possibly have been perpetrators or accomplices to varying degrees. Since 2018, the Bank has taken measures to strengthen governance and the necessary control mechanisms, in particular through: – Restructuring of its share capital; – Strengthening its governance, both at the level of the Board of Directors and of the General Management; – Carrying out an internal audit in…

The Forum on Sino-African Cooperation opens this Monday, November 29 at the Abdou Diouf International Conference Center (CICAD), in Diamniadio, 30km north of Dakar, capital of Senegal. The general theme of FOCAC is: “Deepening the China-Africa partnership and promoting sustainable development to build a shared future between China and Africa in the new era.” Jointly...

LafargeHolcim Côte d’Ivoire, Ivorian subsidiary of the world leader Holcim, famus in Côte d’Ivoire thanks to BÉLIER cement, has been chosen by Neulandt to supply it with the concrete necessary for the production of the prefabricated walls which will soon come out of its brand new factory. mobile. Indeed, Neulandt, a subsidiary of the global UMDASCH group, announced the deployment from January 2022 of a factory for the production of prefabricated concrete walls. The start of production of this unit with a production capacity of 1000m² of walls per day is scheduled for April 2022. “This is the equivalent of…

A free e-book and podcasts provide talent seeking career opportunities with entertaining tips on how to get hired. The challenges of the labor market in West Africa are particular. On the one hand, there are companies that are struggling to find executives and managers, whether on the continent or beyond. On the other hand, there are talents who have difficulty in getting recruited, especially those who want to change careers, to reorient themselves. The latter find it difficult to highlight their profile, to find the professional opportunities that correspond to them. They do not know the channels of access to…

“The strong macroeconomic fundamentals entering COVID-19 have provided Benin with much needed fiscal space and continued access to finance, which has helped to increase economic activity by 3.8% in 2020, l ‘one of the strongest growth rates among developing countries’. This is the finding of the last IMF mission to Benin. In its press release published on November 23, the mission chaired by Constant Lonkeng and which conducted virtual and physical meetings from November 15 to 23, noted a “solid economic recovery underway”, with the normalization of goods traffic at the port of Cotonou , one of the main economic…

As part of its ambition to become a world leader in the production of green hydrogen and by pursuing its capacity building and continuing training program, the Ministry of Petroleum, Mines and Energy (MSME) is organizing, in collaboration with its partner the company Chariot, on 22, 23 and 24 November 2021 in Nouakchott, a training course to strengthen the expertise of its staff in green hydrogen. This training, considered a first in the country or even in the sub-region, is provided by IFP Training, a subsidiary of the Institut Français du Pétrole Energie Nouvelles (IFPEN), the leading French research and…

Allianz Congo Assurances has been officially part of the SUNU Group since Friday, November 5, 2021, the date on which the acquisition-sale transaction was finalized between the SUNU groups and Allianz. Allianz Congo Assurances will change its name to SUNU Assurances IARD Congo before the end of the first half of 2022. With this acquisition, the SUNU Group is entering the Congo-Brazzaville market, with the objective of offering companies, populations and institutions, but also all internal and external customers, solid and lasting insurance. The SUNU Group’s expansion strategy in Africa continues, following the creation of SUNU Assurances IARD RDC in…

According to the World Bank’s Global Transfer Costs Database, the tariff for sending $ 200 between countries remains high and represents an average of 6.4% of flows in the first quarter of 2021. This figure is over twice the 3% target by 2030 set by the Sustainable Development Goals. It is in sub-Saharan Africa that it is most expensive to send money (8%) and in South Asia that the rate is lowest (4.6%). Data shows that fees are often higher when funds are transferred through banks, rather than through digital channels or operators offering cash transfer services. Moreover, and this…

The Naira plays mountaineering, the Cedi in the trough of the tourist wave, the Rand continues to fall, the Egyptian Pound in marble, the Kenya Shilling suspended from reserves, the Ugandan Shilling doped, the Tanzanian Shilling coaxed by the IMF. In this weekly column on African currencies, experts from AZA, the largest non-bank foreign currency broker in Africa, with a transaction volume of more than $ 1 billion per year, analyze the evolution of currency fluctuations on the continent. Look at IATF for $ 40 billion increase in African trade The second Intra-African Trade Fair (IATF) was held last week…

Bolloré Transport & Logistics Guinea has just granted the International Trade Center for Development (CECIDE) financial assistance of 166,290,000 GNF or € 15,000 which will be used to fully finance the training of 20 young Guineans in agribusiness. The project aims to support young farmers working in the regions of Forest Guinea, Upper Guinea, Middle Guinea and Lower Guinea to enable them to develop agricultural techniques for many locally grown products such as coffee, cocoa, cotton, butter. shea or potato. This funding also marks Bolloré Transport & Logistics Guinea’s desire to support Guinean youth through two main areas: vocational training…

The AXIAN Group announces its subscription to Actis Energy 5, a new energy fund being managed by Actis, an investment company known for its investments in the energy sector of developing economies throughout Africa, Asia and South America. AXIAN JOINS ACTIS ENERGY 5 AXIAN continues to pursue its investment strategy through its commitment to the Actis Energy 5 fund. This commitment is an opportunity for Let´ s Renew Energy—the AXIAN group’s energy cluster— to support companies that are committed to bolstering financial inclusion across the energy industry as well as throughout developing markets. In line with its belief that energy…