Author: Rédaction Financial Afrik

PRCA, the largest professional public relations association in the world, representing more than 35,000 public relations professionals in 70 countries around the world, set up the 1st board of directors of its African network composed of 10 members . Kwame Senou, Managing Director of Opinion & Public is one of 10 high-level professionals appointed to be in the proceedings. One of the founders of Opinion & Public, the public relations firm affiliated with Burson Cohn & Wolfe and distinguished at the 2021 Saber Awards Africa, Kwame Senou is known for his activism in favor of the profession. He is a…

After an initial agreement in principle signed in June 2020, Tasiast Mauritanie Limited S.A (TMLSA), a subsidiary of Kinross, and the Mauritanian government signed a final agreement on July 15, 2021. The agreement should anchor Kinross’s mining activities and its close cooperation with Mauritania in the long term. Designed as a win-win partnership, the agreement should ensure a solid foundation for Kinross’s activities on technical, fiscal and operational aspects. In return, Kinross provides guarantees of transparency to the Mauritanian government while committing to pursue its development aid activities ($ 16.3 million in community support) and local employment (97% of TMLSA…

Benin has carried out its first issue of international bonds dedicated to the financing of projects with a high impact on the achievement of the United Nations Sustainable Development Goals, the first for an African state. This operation made it possible to mobilize an amount of 500 million euros (328 billion FCFA), with a repayment deadline set in 2035. The funds mobilized will be used exclusively to finance various social and environmental projects contributing to Benin’s commitments to achieve the United Nations SDGs. Benin thus reaffirms the highly innovative nature of its debt management strategy and renews its commitment to…

Jeddah-Dakar, July 13, 2021, The Islamic Society for the Development of the Private Sector (SID), the private sector arm of the Islamic Development Bank Group (IDB), and the National Bank for Economic Development (BNDE) – Senegal, signed a € 12 million Sharia-compliant line of financing agreement to support Senegalese SMEs affected by the COVID-19 epidemic. This agreement is part of the allocation of the $ 250 million COVID-19 financing line deployed by ICD in support of the private sector affected by the pandemic, drawing on the expertise of the banking system of its member countries . Mr. Ayman Amin Sejiny,…

The visit of Senegalese President Macky Sall, on July 12 and 13, 2021, in Nouakchott where he will be received by his counterpart Mohamed Cheikh Ould Ghazouani will have as main themes gas and fishing. The two countries share the Great Turtle Ahmeyim field, the largest deposit in West Africa. Partners BP and Kosmos have issued some warning signs that the investment cost of the project will be 30% over budget. This overrun is due to administrative delays and non-compliance with certain exemptions appearing in the agreement between the parties. The meeting in Nouakchott is more than decisive for the…

Determined to offer its Member States innovative products against the risks of climate disasters, while taking their concerns into account, the African Risk Capacity Group (ARC), headed by its Managing Director, Ibrahima Cheikh Diong, has recently visited Malawi and Sudan. As a specialized agency of the African Union at the service of its Member States, the ARC is committed, through its new strategy focused on the diversification of its products and the establishment of intelligent partnerships, to play fully its role in helping governments to strengthen their national disaster risk management systems. The two official visits to Malawi and Sudan…

July 9, 2021 – Around the world, interest in bitcoin and other cryptocurrencies continues to grow and Africans are increasingly looking to learn about cryptocurrencies and the inner workings of the blockchain industry in their together. To help with cryptocurrency education, Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is hosting a FREE cryptocurrency masterclass for cryptocurrency enthusiasts across the world. French speaking Africa. Since its launch in 2020, Binance Masterclass has grown into the premier crypto training for crypto beginners and enthusiasts. This edition aims to provide an introduction to cryptocurrencies, learn how crypto changes the lives…

Organizers of major events dedicated to the luxury industry in Paris and Geneva, Coralie Ombga and Anouch Sedef, initiators of All Sees Limited, are holding their very first in Abidjan. It will be July 15 in the form of a dinner around distinguished guests and a very relevant theme: “Luxury tourism and Investments”. After aperitifs and other civilities and elegance, accompanied by champagne offered by Moët et Chandon, hostilities will continue in the form of a conversation with Coralie Omgba, Anouch Sedef and Jean-Michel Lavoizard. The games, between pear and cheese, will focus on the challenges of luxury tourism in…

Fitch Ratings downgraded Tunisia’s currency rating from “B” to “B-” with a negative outlook. The downgrade to “B-” and the negative outlook reflect increased fiscal and external liquidity risks in the context of further delays in agreeing to a new program with the IMF, which is required to access budget support from the IMF. most official creditors. The fragmented political landscape and social opposition limit the government’s ability to adopt strong fiscal consolidation measures, complicating efforts to secure the IMF’s program. In the absence of strong reforms, public creditors may find that debt restructuring is necessary before they can provide…

Shelter-Afrique received US $ 9.2 million (KES 1 billion) from the Government of Kenya as additional capital subscription, solidifying the country’s position as the largest shareholder in the Pan-African Housing Development Finance Company. This contribution brings Kenya’s stake to 18.72%, ahead of Nigeria and the African Development Bank which now hold 13.71% and 13.25%, respectively. Speaking in Nairobi, Managing Director of Shelter-Afrique, Mr. Andrew Chimphondah, applauded the Government of Kenya for its continued financial and diplomatic support which has enabled the company to achieve its recovery plan on time. “We are grateful to the Government of Kenya for their continued…

Orange Côte d’Ivoire, a multiservice operator committed to the digital and entrepreneurial ecosystem on a long-term basis, presented the investment fund, Orange Ventures, to Ivorian startups via its Orange Fab accelerator. With an investment capacity of 350 million euros, including 50 million euros for the Africa and Middle East region, Orange Ventures recently launched its seed investment initiative in countries where Orange operates. It is in this context that this Orange Group fund is returning to Côte d’Ivoire in search of young Ivorian start-ups among the most promising in order to strengthen their expansion capacities and accelerate their development. It…

Following on from the tour started by the Banque Populaire through the different regions of Morocco, the ocher city hosted, this Wednesday, June 30, the 7th stage of the “Regional Investment” roadshow. This event, which aroused great interest from businesses in the region, saw the signing of a partnership agreement with the Solar Cluster, aimed at strengthening support for SMEs in accelerating their energy transition. The work of this stage was kicked off by Mr. Jalil Sebti, Director General of the Commercial Bank and Mr. Ahmed Akhchichine, President of the Marrakech-Sa fi Region, who insisted on the opportunities abounding this…

The Central Bank of West African States (BCEAO) through its training center, the West African Center for Training and Banking Studies (COFEB), in partnership with AFREXIMBANK and the international factoring network FCI, announces the organization of a series of three (3) international webinars on the theme “Factoring and Financing of receivables”. Scheduled for July 13, 14 and 15, 2021, these webinars aim to build the capacities of actors involved in factoring activities in Africa, namely central banks, credit institutions and microfinance institutions. To this end, a specific session will be devoted to regulatory authorities while training will be provided to…

In a webinar discussion hosted by TagPay and moderated by Omar Ben Yedder from African Banker; Yves Eonnet (TagPay), Djiba Diallo (Ecobank Group), Obinna Ukwuani (Bank of Kigali) and Carl Manlan (VISA), discussed how the digitalisation of banks is a huge opportunity across Africa and partnerships with fintech would address the challenges of financial inclusion and the rapid scaling up that is needed across the continent. Banks have to be equipped with the tools that enable them to pre-empt the market and respond quickly to customer demands in a secure and cost-effective way. For the banks to stay relevant Djiba…

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), has provided Murabaha financing of 10 million euros to the Bridge Bank Côte d’Ivoire Group (BBGCI). This agreement will facilitate a significant portion of BBGCI’s trade finance needs and support its private sector clients including small and medium-sized enterprises (SMEs). BBGCI, Côte d’Ivoire’s ninth largest bank in terms of assets, will make the funds available to its growing clientele, in particular importing companies operating in sectors such as energy (petroleum), foodstuffs, agrifood and construction. Speaking on the occasion, Mr. Nazeem Noordali, Chief Operating Officer…

Created in 2009, with a first extension of its authorization in 2015 which enabled the subsidiary of the BGFIBank Group to collect sight and term deposits from corporate clients, BGFIBank Europe is now authorized to collect funds from the public , in accordance with article 18 of the decree of December 4, 2017, by the College of the Prudential Control and Resolution Authority (ACPR). The ACPR’s decision recognizes the robustness of internal control and the good performance of the subsidiary for several years. This extension is a key step in the international development of the BGFIBank Group and is part…

By Yaye Hélène Ndiaye, Founder and Director of KITAMBAA and Yacine Djibo, Founder and Executive Director of Speak Up Africa. The COVID-19 pandemic has plunged the world into deep economic crisis and deepened inequalities. Among those most affected: women and girls, especially those living in vulnerable situations in low and middle income countries. While COVID-19 has exacerbated gender inequalities, many of us – activists and agencies working on gender and development issues – have joined forces to advocate for gender equality and rights. women. A debate on the management of health and menstrual hygiene upstream of the Generation Equality Forum…

Birimian, the first operational investment company dedicated exclusively to luxury and premium brands of African heritage, announces the signing of two partnerships with the Institut Français de la Mode, one of the world’s leading fashion schools, based in Paris, and WSN (Who’s Next, Première Classe, Impact, Traffic, Bijorhca), a strategic player in the international fashion scene specializing in the exhibition and distribution of emerging and independent creative brands. These two exclusive partnerships illustrate the will of the three players to be part of a long-term dynamic dedicated to the emergence of emerging brands with African heritage. Birimian and the Institut…

The project development company Financing Access Congo announces the signing of two power purchase agreements concerning two solar photovoltaic plants located in the province of Haut-Katanga (in Likasi and Kolwezi) with the Company National Electricity Company (SNEL), the public electricity company of the Democratic Republic of the Congo. The project is led by Financing Access Congo in partnership with the Green Power Capital (GPC) investment fund. Led by Song Donsheng, ex-president of Sinohydro, the latter specializes in financing renewable energy projects and is based in Hong Kong. The OTEC Group, specializing in the design of high added value buildings, will…

Huawei has just announced the appointment of Terry HE as Chairman of Huawei Northern Africa. As such, he will be responsible for coordinating all of the group’s activities in the 28 African countries [1] in the region. With a bachelor’s degree in Electronic Information Engineering from Wuhan University in China, Terry HE joined the Huawei Group in 2005. Prior to his current appointment, Terry HE had 15 years of experience in the Middle East where he has successively held the positions of COO of Huawei Pakistan, Managing Director of Huawei Kuwait, President of Huawei Middle East Enterprise Business Group and…

The Teyliom Group appealed to the regional financial market to raise FCFA 20 billion by ceding to FCTC TEYLIOM IMMO 7% 2021-2028 of real estate debts. This operation, launched on May 20 for a subscription period of one month, was closed early on June 1 with an oversubscription level of 145%. A major player in real estate in French-speaking West Africa, the Teyliom Group aims to become a benchmark investor on the African continent, innovative and proactive. With a view to financing the development of real estate projects in the West African region, particularly in Côte d’Ivoire and Senegal, the…

The National Company of Industrial and Mineral Engineering of Mauritania provides JESA with technical assistance for monitoring the rehabilitation and modernization works of the Guelb 1 factory in Zouerate. This project will put a stone in the edifice that JESA and SNIM will build for a radiant industrial future for the region. June 22, 2021 – Casablanca, JESA today announced the signing of the technical assistance mission to monitor the rehabilitation and modernization works of the Guelb 1 factory, on behalf of SNIM. As part of this two-year contract from the placement of the lots with the beneficiaries, JESA will…

LafargeHolcim Côte d’Ivoire, leader in the construction materials industry and producer of the very famous Ciment Bélier, announces the appointment of Rachid YOUSRY as Chief Executive Officer. Computer analyst by training and holder of an MBA from the Ponts Business School in Paris, Rachid YOUSRY has more than thirty years of experience in Commerce and Logistics. He held major positions in various markets for companies such as Teleinfo 5, Unilever, AMS Baeshen, before joining the LafargeHolcim Group in July 2011. Mr. YOUSRY succeeds Xavier SAINT MARTIN TILLET, Managing Director West Africa, who has acted in this position since November 2020.…

The Financial Afrik newspaper publishes its special issue “Mauritanie, perspectives”. This 40-page special issue addresses the salient points of Mauritania’s development strategy, business environment reforms and investments likely to be made in PPP mode or even the stability of the banking and financial system through a exclusive interview with the governor of the Central Bank. To the analyzes of the experts on the legal environment of the private sector, the evolution of the agro-pastoral sector, the prospects of green hydrogen, are added the interviews with Kane Ousmane, Minister of Economic Affairs and the Promotion of the Productive Sectors , Mrs.…

Rabat, Morocco – OCP Group, the world’s largest phosphate mining and leading global fertilizer group, and IFC signed a milestone financing agreement. This partnership will help support OCP in expanding its value chain in Africa, as part of its effort to contribute to the economic development of the continent and to set up sustainable food systems in the region. IFC’s $100 million financing will help OCP Africa, a subsidiary of OCP, expand its logistics networks and increase the availability of fertilizers, adapted to local soils and crops, in Cote d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal, and Tanzania. The funds will…

Senegal and France concluded, on Friday June 25, 2021, a second agreement within the framework of the Debt Service Suspension Initiative (ISSD) launched in 2020 by the member countries of the G20 and coordinated by the Paris Club. , indicates a press release from the Senegalese Ministry of Finance. This agreement was signed by Mr. Abdoulaye Daouda DIALLO, Minister of Finance and Budget and His Excellency Mr. Philippe LALLIOT, Ambassador of France in Senegal. “The suspension agreement for the period from January to June 2021 covers an amount of CFAF 13.7 billion. It follows a first suspension over the period…

By H.M, international expert. Today, around 120 million tonnes of hydrogen are produced, 96% of which is from natural gas and coal by steam methane reforming and coal gasification. Green carbon-neutral hydrogen can serve as a next-generation sustainable energy carrier and can be stored and transported over long distances. Green hydrogen has the potential to...

Ashinaga Senegal, West Africa office of the Japanese non-profit organization Ashinaga, and the Inter-African Institute for Training in Insurance and Business Management (IFAGE) proceeded, Friday, June 18, 2021, in the premises of IFAGE in Dakar at the signing of a partnership for the granting of scholarships in order to strengthen their collaboration. IFAGE, the first private higher education institute specializing in insurance in the CIMA zone (Inter-African Conference on Insurance Markets) has set itself the task of contributing to the development of the financial sector of CIMA member countries. The institute offers numerous bachelor’s or master’s degree courses such as…

On Thursday, June 10, 2021, African Guarantee Fund inaugurated in Lomé, the head office of its West African subsidiary, AGF West Africa. This inauguration ceremony was held under the chairmanship of HE Mr. Faure Essozimna Gnassingbé, President of the Togolese Republic, represented by Mr. Kodjo Adedze, Minister of Trade, Industry and Local Consumption, in the presence of Mr. Felix Adahi Bikpo, Chairman of AGF and Chairman of the Board of Directors of AGF West Africa, Mr. Jules Ngankam, Group Ceo of AGF, Ms. Sibi Lawson, CEO by Interim of AGF West Africa, diplomatic representations and institutions Togolese banks. Designed by…

The Chairman of the Board of Directors of African Guarantee Fund (AGF) received the Lifetime Achievement 2021 award from the African Banker Awards, organized by African Banker magazine and IC Events. Flagship event of the year for African banks, the African Banker Awards are held each year during the general assemblies of the African Development Bank and bring together African and international leaders to distinguish bankers and financiers who are successful, create economic opportunities. for Africans and inspire new generations of bankers who help shape the continent’s future. This Lifetime Achievement Award rewards his entire career and the remarkable work…