Author: Rédaction Financial Afrik

WAEMU’s first 100% digital bank has a new Managing Director, Cameroonian John Mokom. Chartered accountant with the State of Michigan, in the United States, John Mokom takes on the management of Standard Chartered Bank Côte d’Ivoire, a bank he knows well having joined him in 2018 as a director financial, after having served for a long time in the Cameroonian sister subsidiary as a member of the board of directors (2008), general secretary and financial director (2012-2015). His appointment comes in an increasingly competitive local context where the bank must first and foremost not only consolidate its leadership in digital…

Nigerian President Muhammadu Buhari will launch the eNaira on Monday (October 25th) from the presidential villa of Aso Rock in Abuja with the slogan “even naira, more possibilities”. One of the objectives of this new currency is to counter the use of cryptocurrencies, of which the West African giant (170 million inhabitants) is, with 400...

Designer of the ministerial city of Diamniado, a new town located 30 km from Dakar, the capital of Senegal, the Envol Immobilier group, through its subsidiary Envol Partenariats CI, has just delivered the first phase of the University of San Pedro. There are two amphitheatres (500 seats and 200 seats), a health center and work rooms (TD). The university campus, the library building and other buildings are under construction. Built on an area of ​​302 hectares, the university center should receive 20,000 students at the end of its four phases of development. The re-entry of higher education institutions was held…

The Togolese Republic and the United Nations Economic Commission for Africa (ECA), organizer of the Cybersecurity summit, have decided to postpone the event initially scheduled for October 25 and 26, 2021 in Lomé. “For reasons beyond our control, the summit on cybersecurity has been postponed to a later date which will be communicated to you shortly,” read a statement dated 23 October. The organizers reaffirm their commitment to make cybersecurity a top priority for African states. Achieving this major objective requires the continued collaboration and cooperation of all stakeholders, Heads of State and Government, private sector leaders as well as…

Bring Africa closer to Scandinavia. By Michel LOBE EWANE Madeleine Taylor has just been co-opted to join the Board of Directors of a leading Danish financial institution, the Nordic Global Investment Foundation (NGIF). Another promotion for the one who, last July, was appointed Strategic Director for the development of projects and investments of this institution. In her mission letter, the former Special Advisor to the Government and Special Representative of the Republic of Guinea Bissau in Scandinavia (from 2019 to 2020) will be responsible for representing the Nordic Global Investment Foundation (NGIF) on the continent. Its Focus, the financing of…

The Regional Insurance Control Commission, regulator of the insurance sector of the Inter-African Conference of Insurance Markets (CIMA), has granted assistance reinsurance approval to the branch of Wafa IMA Assistance based in Abidjan in Côte d ‘ Ivory. Wafa IMA Assistance Abidjan will thus be able to offer its capacities, its know-how and that of its large network of service providers in the 14 insurance markets of the CIMA. Initially, Wafa IMA Assistance plans to start its activities in 4 CIMA countries: Côte d’Ivoire, Cameroon, Senegal and Mali. In these markets, the start-up offer will revolve around: • A range…

As part of internal promotions within the BGFIBank Group, the Boards of Directors of BGFIBank Europe and BGFIBank RDC, headed by their Chairman, Mr. Henri-Claude OYIMA, made the respective appointments of Mr. Boris Bilé COFFI and Mr. Francesco DE MUSSO as General Managers. Boris Bilé COFFI, until then Deputy Managing Director of the BGFIBank Europe subsidiary, joined the BGFIBank Group in 2009 as part of the opening of the BGFIBank subsidiary in Côte d’Ivoire, after managerial experiences within institutions international financial benchmarks. He took part in the launch of the subsidiary in Côte d’Ivoire by successively performing the functions of…

Bloomfield Investment Corporation has confirmed the long-term “A with a positive outlook” rating previously awarded to Bank Of Africa (BOA) Burkina Faso, a subsidiary of the banking group of the same name, announced the executives of this rating agency based in Abidjan. The short-term rating also remains maintained at “A1 with a stable outlook.” The validity of the rating is from May 2021 to April 2022. In the long term, Bloomfield’s management justifies the rating and the outlook attached to it by the high credit quality. They also believe that the protective factors are good. “However, Bloomfield points out, the…

Bloomfield Investment Corporation has confirmed the long-term rating “A with a positive outlook” previously awarded to Bank Of Africa (BOA) Burkina Faso, a subsidiary of the banking group of the same name, announced the executives of this rating agency based in Abidjan. The short-term rating also remains maintained at “A1 with a stable outlook.” The validity of the rating is from May 2021 to April 2022. In the long term, Bloomfield’s management justifies the rating and the outlook attached to it by the high credit quality. They also believe that the protective factors are good. “However, Bloomfield points out, the…

Former Chadian President Hissène Habré was killed on Tuesday August 24 by Covid-19 at the age of 79. He had been admitted to the emergency room in a hospital in Dakar (Senegal) following complications related to diabetes and hypertension, we learned from media sources. Sentenced to death in absentia for crimes against humanity by a court in N’Djaména (Chad), Hissène Habré fled to Senegal and is then charged with crimes against humanity, war crimes and acts of torture. The old man with the white goatee was sentenced to life imprisonment on appeal in 2017, following a first trial held in…

La Francophonie économique will be in the spotlight of La Rencontre des entrepreneurs francophones (LaREF21), extended to around twenty French-speaking employers’ associations invited by MEDEF (Algeria, Wallonia-Brussels, Cambodia, Cameroon, Congo DRC, Côte d’Ivoire, Djibouti, Gabon, Lebanon, Madagascar, Morocco, Mauritius, Monaco, Quebec, G-5 Sahel employers, Republic of Congo, Senegal, Switzerland, Togo, Tunisia). At the invitation of MEDEF, organizer of LaREF, the Secretary General of La Francophonie, H.E Ms. Louise MUSHIKIWABO, will present on August 24 at the opening of this unprecedented edition, the new economic dynamic carried by the International Organization of La Francophonie. “La Francophonie is not an organization with…

In Abidjan, a signing ceremony held on August 14, 2021 enshrined the approval of a € 6 million line from the development institution, Oikocredit International, in favor of the banking financial institution Fidelis Finance Burkina Faso. During the said ceremony, Abdoulaye Sory, Managing Director of Fidelis Finance, expressed his gratitude to his partner Oikocredit International for the trust. He also expressed “his clear desire to continue to contribute to the development of the economic fabric in the UEMOA * space, through financing well suited to businesses.” Oikocredit representative, Cedrick Montetcho said: “We have been a partner of Fidelis Finance since…

Objective: to be a champion in mining catering! Interview by Rodrigue Fénelon Massala Engineer graduated in management from the University of Johannesburg, Lauretta Muinda defines herself as a multidimensional woman who aspires to be the first Congolese businesswoman leader in mining subcontracting and catering. The young entrepreneur, hotelier, sponsor of the program “The Voice Afrique Francophone” spoke with Financial Afrik. Can you briefly tell us about your activities as a businesswoman? I am the head of Karibu Wote (Pty) Ltd, a company legally established in South Africa and the DRC. It is an international company that covers different lines of…

The African Development Bank Group announced on August 17, 2021 that it had excluded, for a period of 18 months, for fraudulent practices, the company Sargittarius Nigeria Limited and its subsidiaries including Sargittarius Henan Water Conservancy Engineering Limited, as of the 28 July 2021. An investigation by the Integrity and Anti-Corruption Office of the African Development Bank found that Sargittarius Nigeria Limited, a limited liability company registered in the Federal Republic of Nigeria, had engaged in fraudulent during a tender for the construction of water infrastructure in Ibadan, as part of the Urban Water Supply and Sanitation Improvement Project in…

It is known to the public that malicious people produce messages, documents, e-mail addresses and websites which they present as being from the Central Bank of West African States (BCEAO). Reserving the right to initiate legal proceedings against the authors and accomplices of fraudulent acts affecting its image, the Central Bank invites Internet users to be extremely vigilant and to refer to its website https: / /www.bceao.int for information from her. In addition, the BCEAO recalls that it is an international public establishment. Therefore, the services it provides do not require any financial compensation.

The first private initiative green bond issue from francophone West and Central Africa could pave the way for new issues in the region. The eight-year bonds of Emergence Plaza, owner of Côte d’Ivoire’s most visited shopping complex, Cosmos Yopougon, were issued today at a yield of 7.5%. The proceeds of the issue of 10 billion CFA francs (18.1 million dollars) will be used to refinance a bank loan from a local bank and to support the company’s future projects by strengthening its financial and operational solidity. . The issue, which was oversubscribed, was listed at 150 basis points, below the…

At the end of 2020, the decentralized financial systems (DFS) of the West African Monetary Union (WAMU) falling under article 44 of the law regulating DFIs (level of activity reaching a threshold of 2 billion FCFA of outstanding deposits and loans) posted a balance sheet total of 2,561.044 billion FCFA (3.841 billion euros), according to data from the Banking Commission based in Abidjan. The financial and statistical data analyzed by this Commission concern 182 SFDs, or 96.8% of large institutions. Compared to 2019 when it stood at CFAF 2,347.851 billion, the balance sheet total of these DFIs is up by…

Building on a 25-year relationship, Bolloré Transport & Logistics and supply chain services company Czarnikow are collaborating to support Bolloré Transport & Logistics’ sustainable development in East Africa, through the VIVE Sustainable Supply Programme. VIVE is designed to create fully sustainable supply chains in which all actors commit to sustainable improvement.   Through its participation in this programme, Bolloré Transport & Logistics is strengthening its footprint as a player in fully sustainable trade. Will Rook, Head of VIVE, says; “The VIVE Programme is committed to supporting its participants in reaching their sustainability goals through third party verification and bespoke improvement plans.…

Nowcasting was used for a long time in very short-range weather forecasting exercises before being applied to economics in 2008. In this context, nowcasting allows the monitoring of economic conditions in real time. This modern approach is relevant because one of the key measures of the current level of the global economy, in particular the gross domestic product, is only available in Côte d’Ivoire quarterly and annually with a considerable delay in addition to the revisions only. it needs. Consequently, economic agents whose activity requires real-time information on the state of the economy, are penalized. Bloomfield Forecast, is a forecasting…

Anxious to offer the best quality of service to its customers, Attijariwafa bank Europe has improved its money transfer services with faster availability of funds while ensuring a reinforced level of security, in order to facilitate the return of MRE. in Morocco and thus allow them to enjoy their summer holidays serenely. Attijariwafa bank Europe customers now benefit from funds within 2 hours for their money transfers to Morocco (1). Attijariwafa bank Europe offers many money transfer solutions (2) to quickly send money to Morocco: by transfer, online, direct debit, cash, bank card and check. Always with the objective of…

Up to 37% of children in school worldwide are taught in a language they do not speak at home, the World Bank finds in a new report. Read below the summary of the report signed by Jaime Saavedra, Director General, Education, Michael Crawford, Lead Education Specialist and Sergio Venegas Marin. Teaching students in the language they understand seems to be obvious. But for many, it isn’t. Over the past decades, we have seen tremendous progress in improving access to education, but the world continues to face a global learning crisis. Although most countries have universal or near universal enrollment in…

In the case opposing the Autonomous Port of Douala (PAD) against the APM / Bolloré consortium on August 05, 2021, the Littoral Administrative Court declares itself competent to judge the request of the APM TERMINALS BV / BOLLORE SA consortium on the cancellation of the decisions of the PAD board of directors creating the Régie du Terminal à containers du port de Douala. This is the 9th legal victory won by the APM / Bolloré consortium in this case where the PAD asked the Littoral Administrative Court to declare itself incompetent to try this case. The case is postponed until…

Child of globalization, Ilan Benhaïm is an entrepreneur and business angel – with a triple origin: Moroccan, Austrian and French. A graduate of NEOMA Business School, in 2001 he co-founded veepee.com (formerly vente-privee.com), a company specializing in event sales with a turnover of 3.8 billion euros. He is also a shareholder of Blablacar. Since 2019, Ilan Benhaïm has created IB Participations, an investment holding company specializing in the financing of French and international start-ups operating in the world of fashion, tech and retail. To date, around twenty start-ups have already received its support. From its subsidiary based in Casablanca, IBP…

Ahmat Abdelkerim has been Managing Director of the Horn of Africa cluster of Bolloré Transport & Logistics since July 2021. He will lead the company’s activities in three countries: Djibouti, Ethiopia and Eritrea. He succeeds Patrick Gerenthon who has been called to other functions within Bolloré Transport & Logistics. A Chadian national, Ahmat Abdelkerim graduated from Sup’Management in Morocco and holds a master’s degree in development policies and management from Sciences Po Paris. During his 20-year career within the various subsidiaries of Bolloré Transport & Logistics, he held several managerial positions before being promoted to Chief Executive Officer of Bolloré…

The Ivorian Federation of Small and Medium-Sized Enterprises (Fipme) did not go all the way, she said, to denounce “the actions and actions of the ministry in charge of SMEs” aimed at “excluding” it from national bodies. Facing the press on August 4, 2021, the organization’s officials indicated that the state press release relating to the activities of the celebration of the Independence Day of Côte d’Ivoire “does not mention the Fipme in the list of structures and organizations invited ”. “This is the place to underline the actions of the Ministry of SMEs against the Fipme, whose vocation is…

In contact with a person who has just been tested positive for the Covid-19 test, President Alassane Ouattara has been placed in quarantine. According to the press release sent to Financial-Afrik, the Ivorian head of state followed “health recommendations in this area and in accordance with the government’s provisions to put himself in confinement”. In the press release dated August 3, 2021, President Alassane Ouattara urges his compatriots and foreigners residing in Côte d’Ivoire to be vaccinated.

From August 9 to 27, 2021, Côte d’Ivoire will host the Universal Postal Congress organized by the Union Postale Universelle. Since 2016, the UPU has been deploying a digital solution to facilitate e-commerce on the continent: the Ecom @ africa initiative. By its nature, this event is as much an opportunity as it is proof of the growing economic maturity of the Ivory Coast. Founded in 1878, the UPU is one of the oldest international organizations. Forced to reinvent itself with the advent of the digital age, and the decline in the volume of mail (except parcels), the UPU has…

By Andrew Chimphondah On 31st December 2019, coronavirus cases were discovered from Wuhan City in China. This then lead to an outbreak of the novel Corona Virus disease (COVID-19) throughout the whole world, with devasting and disruptive impacts to global livelihoods ranging from health, to economic establishments, to social interactions. In Africa, governments and health authorities across the continent are striving to limit widespread infections of COVID-19. As of July 26th ,2021, Africa had 5,984,572 cases, 152,406 deaths and 5,177,733 recoveries. With the rising number of COVID-19 cases in Africa, it is becoming a source of concern considering the region’s…

[Photo: Karim AIT Talb, Deputy Managing Director of Géocoton]. Bboxx, a new generation electricity operator, is partnering with Advens Geocoton in a joint venture to enter and develop the Burkina Faso market. This is the first step in a long-term strategic partnership that will see the two companies develop clean energy in other countries in the future. The government of Burkina Faso has announced ambitious plans to accelerate access to energy, with electrification rates currently averaging 18%, and only 5% for the rural population1. Through this partnership, Bboxx and Advens Geocoton aim to improve the lives of 2 million people…

In July 2021, Dr Edoh Kossi AMENOUNVE, Managing Director of the Regional Stock Exchange (BRVM), became a member of the Nasdaq Exchange Review Councils for a three-year term until 2024. The Exchange Review Council is a standing independent advisory committee responsible for ensuring the consistent and fair application of market rules related to the discipline of members and member organizations for each of the Nasdaq exchanges. The Managing Director of BRVM and DC / BR has thus risen to the top of Global Finance by joining one of the Nasdaq Specialized Stock Exchange Committees (Nasdaq USA, Nasdaq Nordic and Nasdaq…