Author: Rédaction Financial Afrik

The Board of Governors (BoG) of the African Capacity Building Foundation (ACBF), the African Union’s specialized agency for capacity development, holds its annual meeting on June 25, 2021. BoG is the governing body supreme director of the Foundation, whose role is to define the general policy and strategic orientations of the ACBF. The virtual meeting will be moderated by the Minister of Finance of the Republic of Ghana, H.E Ken Ofori-Atta, Chairman of the Board of Governors of ACBF. Governors will need to discuss the general state of the Foundation, the impact of the COVID-19 pandemic on its activities, and…

Via a publication on her Facebook profile this Monday, June 21, journalist Gaëlle Borgia said that populations in the south of the country, in the grip of extreme poverty, are forced to eat their shoes to survive. This information, questioned by local authorities and the World Food Program, ultimately seems to be “fake news”. In her publication of June 21, the journalist Gaëlle Borgia, international correspondent, in particular of France 24, in Madagascar directly challenged the President of the Republic by affirming that the misery of the population would force some to eat their shoes (zebu skin ). Given its…

The 2021 Annual Meetings of the African Development Bank Group opened on Wednesday, virtually, devoted the first discussions on African debt management. Several participants insisted on the need for internal reforms, debt restructuring and efficient international support to revive African economies and avoid over-indebtedness on the continent. Africa recorded its worst economic recession in the past 50 years in 2020 due to the Covid-19 pandemic. This pandemic has caused enormous financing needs of states, widened budget deficits and pushed into debt. In order to avoid the over-indebtedness that could push African economies into the abyss, the African Development Bank is…

On Wednesday May 26, 2021 in Abidjan, an agreement was signed between the Ivorian Federation of Small and Medium Enterprises (FIPME) and the Ivorian insurance consulting and brokerage company OPTIMUS. The Ivorian Federation of Small and Medium Enterprises (FIPME) was represented on this occasion by Dr Joseph BOGUIFO, Chairman of the Board of Directors and at OPTIMUS by Hermann N’ZI, Founder and CEO. The Ivorian Federation of Small and Medium Enterprises (FIPME) was created on September 28, 1995, at the initiative of the Ivorian State, with a view to representing all SMEs in the Ivory Coast. FIPME is the 1st…

The public “Marhaba” (welcome) campaign to welcome Moroccans living abroad (known as “MRE”) on the occasion of their summer returns has never carried its name so well and illustrated its original spirit. Traditionally located in Moroccan and European ports (Spain, France, etc.) to assist MRE during their road trip of several thousand kms and facilitate their access to the country of origin, the 2021 campaign offers them more than they do. could hope: to return to Morocco by plane at the cost of a coach! Thus and on royal instruction, the RAM (Royal Air Maroc) has been offering since June…

The Economic Commission for Africa (ECA) unveiled on Tuesday, June 22, 2021, the findings of a study entitled “Energy prices in Africa: Transition to clean energy for the industrialization of Africa”. The presentation, which was made at a virtual ministerial meeting, said 600 million people in Africa do not have access to electricity and 900 million do not have access to clean cooking fuel. Meanwhile, electricity access rates in 24 countries are below 50%. “There is no question that Africa will progress better if we do not invest adequately in energy and ensure affordable access for all,” said ECA Executive…

Lomé, 23 June 2021 – Ecobank Transnational Incorporated (“ETI”), the Lomé based parent company of the Ecobank Group, was hosted today by the London Stock Exchange for a market opening virtual ceremony to celebrate the successful listing of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) main market. This represents the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and is now listed on the main market of the London Stock…

Paris/ Nairobi, 23 June 2021 – Bpifrance and the Eastern and Southern African Trade and Development bank (TDB) announce the signing of a Memorandum of Understanding (MoU) which aims at building a mutually beneficial long-term relationship between both institutions, for the benefit of French and TDB Member States companies, with a focus on export activities. This cooperation agreement was signed by Isabelle Bébéar, Director Head of International & European Affairs at Bpifrance, and Admassu Tadesse, Group MD and President Emeritus of TDB, with the presence of the Ambassador of France to Kenya, H.E. Mrs. Aline Kuster-Menager. H.E. Mrs. Aline Kuster…

For evading the bi-weekly obligation to report to the police, the former Mauritanian president, Mohamed Abdel Aziz, was placed under a committal warrant and quarantined in a secure police residence due to the health context. Indicted in March following a report by a Parliamentary Commission of Inquiry relating to his ten-year reign (2009-2019), the former...

Paris, June 23, 2021 – The first issue of “Mon Heure d’Afrique” will be broadcast on Monday, June 28 at 10 a.m. GMT on the TV channel of the Financial Afrik group. The Franco-Beninese economist and former Prime Minister, Lionel Zinsou, co-founder of the pan-African bank SouthBridge, is the guest. The theme chosen for this program, broadcast in partnership with the Financial Afrik group, focuses on short, medium and long-term solutions to restart African economies after the Covid-19 health crisis that brought the planet to a halt. For an hour, Lionel Zinsou is questioned on the major current issues (vaccines,…

The Didier Drogba Foundation and 01Talent Africa signed a strategic partnership in Abidjan to meet the challenges of the continent’s digital transformation through an inclusive and sustainable approach to the development of human capital. The Didier Drogba Foundation reaffirms its mission of promoting the fundamental right to education for all without distinction and more specifically for the most vulnerable populations (unemployed young people, women and girls, migrants, etc.) 01Talent Africa, co-founded by Nicolas Sadirac and Deror Sultan, is committed to the identification, development and professional support of more than 1 million digital talents in Africa by setting up inclusive business…

With precisely 203 billion CFA francs in assets under management at the end of May 2021, the company is consolidating its leadership in the CEMAC zone by achieving great success with institutional investors and individuals. The growth of funds managed by Harvest Asset Management, + 207% since the beginning of 2021, is the recognition of its proven expertise in the collective management segment via mutual funds (FCP) and in that of management under mandate. In fact, Harvest Asset Management offers 3 distinctive funds, mainly the ATLANTIQUE PERFORMANCE FCP, which currently stands at FCFA 101 billion in assets under management. Launched…

High-level meeting platform, the 4th edition of the Benin Investment Forum will be held on August 26 and 27, 2021 in person under the theme Benin land of your projects. A much-awaited moment by all economic players, the forum aims to discover, exchange and share the new economic dynamics of the Republic of Benin. This economic forum represents a unique and multi-stakeholder transactional platform intended to accelerate investments in Benin. The Benin Investment Investment Forum is dedicated to advancing projects in Benin to bankable stages, raising capital and accelerating the financial close of transactions. The Benin Investment Forum for 5…

Injaro Agricultural Capital Holdings Limited (“IACHL”), the impact investment fund managed by Injaro Investments, announces the sale of its 30% stake in seed producer M&B Seeds and Agricultural Services Ghana Limited (“M&B”) to the founder and other shareholders. This share sale represents a full exit from M&B after a holding period of ten (10) years. Injaro invested in M&B in May 2011. The company aimed to leverage the investment from Injaro to expand its processing capacity, increase seed production through both its farm expansion and the set-up of an outgrower scheme, improve marketing and strengthen middle management. Following the investment,…

LafargeHolcim Côte d’Ivoire in partnership with the National Council of the Order of Architects of Côte d’Ivoire (CNOA) and the School of Architecture of Abidjan (EAA), launched this Tuesday, June 22 the third edition of its internship grant program for the promotion of sustainable construction in Côte d’Ivoire. Committed to the development of sustainable solutions to improve the construction of buildings and infrastructure and contribute to a better quality of life, LafargeHolcim Côte d’Ivoire has initiated an internship grant program since 2017, the winners of which are selected by competition. This third edition marks a major innovation through the inclusion…

Returning to Ivory Coast after ten years of absence, Laurent Gbagbo announces the divorce from Simone, his wife and political partner. In a press release from Me Claude Mentenon, counsel to the former president, the reasons are clearly stated: “Mr. Laurent GBAGBO announces that due to the repeated refusal for years by Dame Simonne EHIVET to consent to an amicable separation, moreover. settlement appropriate to their mutual personal and political status, he resolved to seize today, the Judge of Matrimonial Affairs of the Court of First Instance of Abidjan, a request for divorce. This announcement will not be followed by…

Following on from the previous stages of the Regional Investment, the Tangier meeting shed light on the assets and investment opportunities offered by the Tangier-Tetouan-Al Hoceima region. This meeting recorded the online participation of more than 600 people. Like the first five stopovers, the Tangier meeting was structured around 3 panels, dedicated respectively to the themes: “The region’s strengths and opportunities”, “Project banking and investment recovery”, and “Funding and support mechanisms”. The various interventions made it possible to highlight the strengths of the region in terms of industrial platforms and logistics infrastructure offered to operators, as well as the potential…

The launch of Eco, the single currency of the Economic Community of West African States (ECOWAS), will take place in 2027. This is one of the resolutions taken by the 15 member states at the outcome of the summit held on June 19, 2021 in Accra (Ghana). This roadmap is accompanied by a new convergence pact which will cover the period 2022-2026 and 2027 will be the year for the launch of the Eco ”, specified the chairman of the ECOWAS commission, Jean-Claude Kassi Brou . Remember that the convergence pact had been suspended for fiscal years 2020 and 2021…

The eighth judicial round between the APM / Bolloré consortium against the Autonomous Port of Douala (PAD) over the operation of the container terminal is to the advantage of AMP / Bolloré companies through their subsidiary Douala International Terminal (DIT). The third-party opposition lodged by Switzerland Terminal Investment Ltd (TIL) in the case of the call for applications process for the management of the container terminal of the port of Douala was “rejected because unfounded and inadmissible” by the administrative court du Littoral this Thursday, June 17, 2021. Indeed, following the decision of the administrative tribunal of the tribunal of…

The two groups, through their specialized subsidiaries, have signed a memorandum of understanding at the Mohammed VI Polytechnic University (UM6P) in order to pool their respective know-how. OCP Maintenance Solutions (OCP-MS) and BCG GAMMA will cooperate to jointly provide solutions integrating industrial expertise, digital and artificial intelligence (AI) to large industrial groups, in Africa and internationally. An unprecedented collaboration for the implementation of products ranging from production and process optimization, to predictive maintenance solutions. OCP Maintenance Solutions (OCP-MS), a subsidiary of the OCP Group specializing in industrial digitization and predictive maintenance, signs a partnership with BCG GAMMA, the Artificial Intelligence…

Today, Tuesday, June 15, 2021, the day the Moroccan skies reopen, the Moroccan National Tourist Office welcomed the first tourists and Moroccans from the world returning to the country. A “Welcome Back” operation to mark the effective resumption of international tourism activity. Marrakech, June 15, 2021 – Today, Morocco reopens its skies to international flights. This is an important and hopeful moment for all tourism professionals who have been eagerly awaiting this event. Also the ONMT wanted to mark the occasion by organizing a major “Welcome Back” operation at the international airport of Marrakech, one of the main ones in…

This year has welcomed AfCFTA, the pan-African free trade agreement. As of 1st January 2021, AfCFTA has brought in new business standards for 41 countries and 1.2 billion people to increase economic growth across the continent. Alongside that has been an acceleration of digital transformation in the region, heralding a new era of technological advancement. AfCFTA introduces updated trading rules that lower import-export taxes, make commerce more affordable, and increase transaction volume. It means banks in the continent will be primed for pan-African service, a priority that will adjust the importance of ease of payment. Since we began operating in…

The Monetary Policy Committee (CPM) of the Central Bank of West African States (BCEAO) held, on Wednesday, June 9, 2021, its second ordinary meeting for the year 2021, by videoconference, under the presidency of Mr. Tiémoko Meyliet KONE, Governor of the Central Bank, its statutory President. The Committee reviewed the main developments in the international and regional economic situation in the recent period, as well as the risk factors which may affect the medium-term outlook for inflation and economic growth in the Union. Under international conditions, the Committee noted a pick-up in economic activity in the first quarter of 2021,…

The nanocredit adventure continues in the municipalities of Senegal. Podor has had a nano-credit point since Friday, June 11, 2021. The General Delegate for the Rapid Entrepreneurship of Women and Youth Mr. Papa Amadou Sarr launched the Podor nano-credit point under the Presidency of the Mayor of the city, Mrs. Aissata Tall Sall and the presence of the President of the Departmental Council Mr. Mamadou Dia. This launch was preceded the day before by the enlistment of Professional and Interprofessional Organizations of women and young people for whom the first funding was granted thanks to the partners Wave, Yup, Wizall…

Messrs Serge EKUE, President of the West African Development Bank (BOAD) and Lassané KABORE, Minister of Economy, Finance and Development of Burkina Faso signed a loan contract in the amount of 30 billion FCFA relating to the construction and asphalting project of Regional Road No. 11 (RR11) Kolinka-Fara-Poura Carrefour in Burkina Faso. Funding for this project was approved during the 123rd session of the BOAD Board of Directors which was held in May 2021. Its purpose is to contribute to the strengthening of the economic integration of the Boucle du Mouhoun, Center-West and South-West Regions in Burkina-Faso by setting up…

The Board of Directors of the West African Development Bank (BOAD), chaired by President Serge EKUE, announces, on June 9, 2021 in Lomé, the appointment of Mr. Braima Luis SOARES CASSAMA as second Vice-President of the institution for a renewable term of five (05) years. Previously Economic Advisor to the Presidency of the Republic of Guinea Bissau, Mr. SOARES CASSAMA held in Guinea Bissau, several positions related to finance and the economy, including that of Minister Delegate to the Treasury, in charge of fiscal affairs and public accounts . He also served as deputy to the Director of credit institutions…

The French Development Agency (AFD) signed on June 3, 2021, on the occasion of the High Council for Cooperation between France and Tunisia, a tripartite agreement with the National Water Exploitation and Distribution Company (SONEDE) and the company Aquassay for the financing of an innovative project which aims to improve the performance of two desalination plants in Djerba. Intense water stress and climate change threaten to strongly impact Tunisia’s development. SONEDE therefore initiated a national program to strengthen water resources and secure the drinking water supply, using unconventional resources such as desalination of brackish water and now seawater to cover…

On the occasion of the visit to Côte d’Ivoire of Jean-Yves Le Drian, French Minister for Europe and Foreign Affairs, Proparco and Emerging Africa Infrastructure Fund (EAIF) signed this morning a loan of 165 million. euros and a grant of 13 million euros to finance the Biovea project in Côte d’Ivoire. The plant will be the first in Africa to produce renewable energy, from biomass, to feed it into the national electricity grid. The financing was granted by Proparco, a subsidiary of the Agence Française de Développement (AFD) group dedicated to the private sector, and Emerging Africa Infrastructure Fund, to…

The CEO of AXA Côte d’Ivoire, Roger Boa Johnson, received on Tuesday June 8, 2021, the CEO of the ASCOMA group, Chedid Farid, present in Abidjan as part of the celebrations commemorating the 60 years of ASCOMA Côte ivory. With his teams, the CEO of Axa wished AKWABA to the CEO of Ascoma in the pure African tradition. As a reminder, Farid Chedid is the founder of the Lebanese investment company Chedid Capital Holding, which took over 70% of Ascoma’s capital. The Husson family, founder, keeps 20% of the capital of the 11th French broker.

“Rwanda is a country open to business, regardless of nationality” The Kigali International Financial Centre is aiming to become one of Africa’s largest financial centres in the spirit of coordination with the other African financial centres. In this interview, Nick Barigye, CEO of Rwanda Finance Limited, unveiled his country’s strategy to attract global investors and international talents. “We want to connect international investors with opportunities across Africa and to connect African entrepreneurs with global capital”.