Author: Rédaction Financial Afrik

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…

From our special correspondent in Durban, Issouf Kamgaté. Afreximbank President Benedict Oramah, Prime Minister of KwaZulu-Natal Province Sihle Zikalala and several provincial governments in South Africa have just created a networking platform to develop the internal preparedness and capacity of the economy local to the realities of the Zlecaf and take advantage of the trade agreement. The birth of this network, which took place on the sidelines of the second edition of the intra-African trade fair (Iatf 2021), stems from an observation: the sub-sovereigns currently do not have a platform to discuss issues. local decentralization policies. So this network, according…

The African Import-Export Bank (Afreximbank) and the National Bank for Economic Development (BNDE) -Senegal signed this Thursday, November 18, 2021 a financing line agreement of 05 million Euros to DURBAN (South Africa) intended to support Senegalese companies in the context of financing the working capital needs of SMEs. This line should enable BNDE to strengthen its financial capacities and to have significant resources to pursue the development of factoring and support businesses in their day-to-day activity. As a reminder, this new financing agreement consolidates a long relationship of trust between the two institutions. Indeed, BNDE has already benefited from a…

In the DRC, the constitutional court has just declared itself incompetent in the case of the agro-industrial park of Bukanga-Lonzo, which pits former prime minister Matata Ponyo and others against the Congolese state. In its argument, the Constitutional Court considered that the objections raised by the defendant Matata ponyo and others are admissible and founded....

Backed by the CFA Franc, Bamako resists ECOWAS sanctions. The Naira dances the Tango on an oil barrel, the Cedi loses its footing against the dollar, the Rand gnawed by inflation, the Egyptian Pound speaks Chinese, the Kenyan Shilling plays on the yoyo, the Ugandan Shilling on a psychological bar, the Shilling Tanzanian helped by farmers. 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. Mali faces sanctions as its…

Establishment of an operational entity in Ivory Coast under the name of Allianz Technology Africa (AZTA) AZTA’s role will be to promote the sharing of Allianz’s technological assets with its entities in Africa Allianz Africa thus aims to assert its technological leadership on the continent. Present in Africa for over 100 years, Allianz, one of the world’s leading insurers and asset managers, is entering a new phase in its expansion on the continent with the launch of Allianz Technology’s activities in Africa. Indeed, Allianz Technology Africa (AZTA) officially started its operations on the continent through the reconversion of an operational…

The second issue of Mon Heure d’Afrique (MHA) will be broadcast on Monday, November 14 at 10:00 GMT on the Financial Afrik group’s TV channel. Former Chadian Minister of Agriculture and Secretary General of the Permanent Interstate Committee for Drought Control in the Sahel (CILSS) for seven years, Djimé Adoum, who officially took office in Brussels on September 16 as High representative of the Coalition for the Sahel, is the guest of honor. The theme chosen for this program: “Developing the Sahel: mission impossible? ”Enabled us to review the major challenges facing the Sahelians today: terrorist threats and underlying conflicts,…

Mathieu Mandeng is the new Chairman of the Board of Directors of Standard Chartered Bank Côte d’Ivoire. An appointment that testifies to the man’s charisma and his career as a hard worker. Already Managing Director of Standard Chartered Bank Mauritius Ltd, PCA of four Standard Chartered Bank funds investing in India, China, Nigeria, Botswana, Hong Kong and Mauritius as well as Non-Executive Director of Standard Chartered Bank Cameroon, to name just a few positions, Mathieu Mandeng is entrusted with the responsibility of the Board of Directors of which he was also a member, a mark of confidence and recognition for…

Canada announced Monday in Glasgow, where the 26th United Nations Conference on Climate Change (COP26) has been taking place since October 31, funding of 10 million Canadian dollars for the Climate Change Fund in Africa. The funding that comes from “Engagement Global du Québec” was announced at the Francophonie pavilion in Glasgow where the partners assessed the Fund’s results and prospects, seven years after its creation in 1994. Global Affairs Canada is also committed to supporting the Fund’s projects that address the impacts of climate change on women and girls. The support was announced as the third call for proposals…

SouthBridge investment bank announces the appointment of Jean-Christ Ametep as director of its office in Abidjan (Ivory Coast). The promoted joined the bank founded by Lionel Zinsou and Donald Kaberuka three years ago and played an important role in its early years in business. “He thus brings a wealth of experience to SouthBridge’s advisory activities in France and in our other offices,” reads a note from the bank. Former KPMG Paris executive, Jean-Christ Ametep has also worked in Private Equity firms, such as AMUNDI Private Equity Funds, ARDIAN and Edmond de Rothschild Investment Partners. Jean-Christ Ametep started his career starting…

Bolloré Transport & Logistics signed in Yaoundé on Wednesday November 03, 2021, a memorandum of understanding with Customs and KiwiPay Afrique Centrale SARL, a company specializing in e-commerce to promote the development of electronic commerce in Cameroon. As part of this agreement, Bolloré Transport & Logistics will be responsible for managing customs formalities and paying the duties and taxes of packages imported by air and sea, thus facilitating the import process and to speed up the delivery times of goods. “This protocol, which commits us over a period of three years, materializes the commitments of the Customs-Business Forum promoted by…

German Government Announces €18m Premium Support to subsidize climate insurance for African Risk Capacity (ARC) Member States. • 18m EUR to subsidize climate insurance across Africa • Goal: Enabling cash-strapped African governments and humanitarian agencies to prepare for disasters by funding insurance coverage for droughts and tropical cyclones. • Mitigating the impacts of climate change for the poorest and most vulnerable communities by providing early support. Glasgow, Scotland, November 3rd, 2021 – The Government of the Federal Republic of Germa today announced, on the margins of the ongoing United Nations 2021 United Nations Climate Change Conference (COP26), the sum of…

The African Development Bank (AfDB) retains its triple AAA with Moody’s, the agency informed in a report from November 2, 2021. Reelected last year for a second term, the Nigerian Akinwumi Adesina, president of the AfDB, also sees through this note renewed confidence in its management following a long so-called whistleblower crisis now forgotten. The...

West Africa Rating Agency (WARA) affirmed, at the end of its semi-annual review, the long-term rating in regional currency “tAAA” of the “senior” bonds of the FCTC NSIA BANQUE 7% 2020-2025, for an initial amount of 40 billion FCFA. These bonds have a maturity of 5 years. For reference, this rating of “° tAAA °” is the maximum rating allowed by the regional rating scale. The outlook remains stable. At the same time, WARA also affirmed the Credit Rating rating of “ec.A / Stable / w-3” to NSIA Banque Côte d’Ivoire, the Assignor of the securitization transaction.

The West Africa Trade & Investment Hub of the United States Agency for International Development (USAID) awarded a co-investment grant of $ 518,000 (CFA) to La Laiterie du Berger, a company that manufactures dairy products from milk produced locally in Senegal. The grant will allow the company to source from 1,150 new breeders and continue its efforts to reduce the country’s dependence on imported milk. In Senegal, nearly 90% of the milk marketed is imported, generally in the form of powdered milk, while 30% of the Senegalese population are dairy producers who offer enough fresh milk to be able to…

AfricInvest, leader in pan-African private equity and Tawhid CHTIOUI (photo), entrepreneur in the field of higher education, announce the acquisition of 80% of the capital of the ISGA Group alongside the DIOURI family, historical shareholder and founder. The new partners officially gave concrete form to their association on November 1, 2021. This transfer operation, under construction for several months with the assistance of the highly reputed investment bank Baker Tilly Burj Finance, takes the form of a contribution commitment significant investment over the next five years, to support the group’s development plan. The deal thus concluded aims to endow one…

A year and a half after the outbreak of the health crisis linked to the coronavirus, the Cameroonian banking sector is trying to revive itself by digitizing its services. Thus, the recent launch of remote banking operations without internet and without smartphone, associating banks and mobile telephone operators through a national electronic communications aggregation platform...

The Raxio group is investing in the construction and operation of a 1.5MW colocation data center in Abidjan, Côte d’Ivoire. With commissioning scheduled for 2023, Raxio Abidjan will be the first level III data center, independent from the country’s operators. The facility will support the strongest economic growth in francophone West Africa, promoting the region’s digital transformation and connecting international and local connectivity. The Raxio Group (“Raxio”), one of the pan-African leaders in the development and operation of data centers, today announced the creation and financing of “Raxio Abidjan”, which will represent the very first level III data center. ,…

The Bloomfield Investment Corporation rating agency has assigned Coris Holding an A + long-term and A1 short-term rating. In the long term, the credit quality is high, notes the agency based in Abidjan. “The protective factors are good. However, the risk factors are more variable and more important in times of economic pressure ”. In the short term, the certainty of timely repayment is very high. Liquidity factors are excellent and supported by good element protection factors. The risk factors are minor. Among the elements strengthening the rating, Bloomfield notes a regional economy that is growing and resilient in the…

Dakar Terminal signs a memorandum of understanding with the Malian warehouses in Senegal to reduce stevedoring rates for new tanker lorries destined for Mali Dakar Terminal, the operator of the El Hadji Malick SY ro-ro terminal, signed a memorandum of understanding with the Malian warehouses in Senegal (Entrepôts Maliens  du Sénégal, E.MA.SE) on 14 October 2021. Under this agreement, Dakar Terminal commits to reducing the cost of port transit for all new tanker lorries in transit through Senegal. This exceptional measure will support the process of renewing the commercial vehicle fleet in Mali, and help to boost the competitiveness of…

Gérardine Mahoro is CEO ACT05, the first African firm specializing in African affairs in Europe, based in Paris, with representations in Brussels and Abidjan. Before being at the head of ACT05, she worked for the AfDB and PWC. Present at the Africa France summit in Montpellier, she gives us her impressions. You just attended the Africa-France summit. What conclusions do you draw from this Franco-African reunion? We can’t really talk about a reunion, the Franco-African relationship is a long, continuous and tumultuous story. I retain the format of this meeting which was favorable to discussion, and the opportunity given to…

Abidjan, October 20, 2021 – The Savings, Investment and Heritage Fair (SEIP 2021), a platform for professionals from the world of finance in the UEMOA space, organized by Ecobank and the Agency, reopens its doors for a 4th edition, on November 18th. After three editions, including the third, exclusively digital, which were very successful (an average of more than 3,000 participants for more than 4,500 registered online), the event returns this year in a hybrid version combining face-to-face and digital, and will be held at the Sofitel Abidjan Hôtel Ivoire. The Salon de l’Epargne, de l’Investissement et du Patrimoine, which…

The Coris Group has taken the decision to suspend the rating process with WARA, the Board of Directors of the Coris Group wishing to explore other alternatives in terms of rating, after seven years of fruitful collaboration with the West African rating agency. , announces the agency in a press release.WARA notes Coris Bank International SA since 2014, Coris Bank International Côte d’Ivoire since 2019 and Coris Holding since 2017. At the date of the withdrawal of the ratings, the ratings of these three entities on the WARA regional scale were as follows: BBB + / Stable / w-3 for…

Bureau Veritas and Bolloré Ports have awarded Meridian Port Services (MPS) two stars under the Green Terminal environmental labelling process. This comes after Bureau Veritas conducted an audit lasting several months to assess the social and environmental performance of MPS’s facilities, equipment, energy consumption and operating processes. MPS is the first container terminal in the Bolloré Ports network to obtain the Green Terminal label, also achieving the highest score with an 86.58% success rate (a two-star rating). This reflects the commitment of MPS and its shareholders to further reducing CO2 emissions. This new distinction demonstrates MPS’s determination to reduce the…

Mr. Thierno Seydou Nourou SY, new President of the Association of West African Banks (ABAO), continues to implement his strategy to revitalize this Association, which brings together the two hundred and fifty (250) Commercial Banks , Financial Institutions and Financial Institutions of the fifteen (15) countries of the Economic Community of West African States (ECOWAS). To this end, he went to Lomé, Togo, accompanied by Mr. Séga BALDE, Secretary General of ABAO, where he held, on October 19 and 20, 2021, important meetings with the following Personalities , surrounded by their main collaborators: Mr. Ade AYEYEMI, Managing Director of the…