Author: Rédaction Financial Afrik

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”.

Bernard Bartoszek is the new boss of Rawsur SA. The Congolese company therefore sought an expert in insurance in general and African insurance in particular. With 30 years of experience, 20 of which with Axa in France, Bernard Bartoszek also led Ogar, the Gabonese leader in insurance, which he will lead from 2010 to 2016 with remarkable performances. Director of several independent companies, the French executive brings strategy, auditing and above all a huge address book in his bags. As a reminder, Rawsur Assurances is a company of the Rawji Group, a major player in the Congolese economy for over…

The 2x Challenge will raise $ 15 billion by 2022 to benefit women-led businesses. After raising $ 7 billion between 2018 and 2019, surpassing its initial objective of raising $ 3 billion by 200%, the initiative founded by several G7 development institutions (CDC, United Kingdom; Proparco, France; JICA and JBIC, Japan; DFC, US; FinDev Canada, Canada; DEG, Germany and CDP, Italy) is stepping up a gear. Over the past 3 years, over 200 transactions have qualified for a 2X investment. So far, companies in Latin America have secured the most 2X funding, followed by sub-Saharan Africa where the volume of…

Mr OUATTARA, you took office in November 2019. Can you share with us your actions which have favored your results obtained in 2020 during the Covid-19? First of all, it must be said that it is the work and commitment of the whole team. I was very well received on my arrival and we immediately conducted a strategic reflection with all of the top management and middle management. At the end of this reflection, we have identified major initiatives for the year 2020. These so-called “BRIGH” initiatives have been managed as projects with at the head of project managers and…

Thursday June 17 from 10am GMT on financialafrik.com, YouTube and Facebook. Pathé Dione, CEO of the SUNU Group, looks back on his entrepreneurial journey and the latest news from his group. Exclusive information, in particular on the arrangement reached with Sanlam, now withdrawn from Sunu’s capital, and the creation of Sunu Participations Holding West Africa in Dakar, an entity which will bring together all the West African subsidiaries. Beyond the news, we mainly asked the man about the Sunu saga. Founded in 1998 and today with 29 companies including a bank, a microfinance company, a health management company, the SUNU…

For a few weeks, the rumor has been running. Exxonmobil is packing up to leave Mauritania. Today, the rumor has turned into near certainty after a meeting between officials of the US major and the Mauritanian Minister of Oil. The meeting mainly focused on the practical modalities of abandoning exploration activities in the deep offshore of the coastal basin of Mauritania. In the absence of an official statement from the parties, this information remains in the conditional. Recall that ExxonMobil Exploration and Production Mauritania Deepwater Ltd had signed three oil and gas exploitation and production contracts with the Mauritanian state.…

On June 7, 2021, the IMF Executive Board approved a Standby Agreement and Standby Credit Facility Arrangement in the amount of SDR 453 million (approximately $ 650 million or CFAF 350 billion) and thus completes the third review of the program supported by the instrument for the coordination of economic policy. The approval of the FCC agreement and standby agreement paves the way for an immediate disbursement of approximately SDR 129.4 million or approximately $ 187 million. It follows an emergency aid that the IMF had granted to Senegal in April 2020 for an amount of 442 million dollars at…

On the occasion of World Environment Day, celebrated every year on June 5, Attijariwafa bank organized, in collaboration with the association Toit En Vert *, a “Green Day” in the form of workshops, in order to discover urban agriculture to its employees and make them aware of its positive impact on the environment. This event, which took place on one of the terraces of the Group’s Headquarters in Casablanca, is part of the Group’s approach undertaken for several years in terms of CSR and in the continuity of the campaign to raise employee awareness of environmental protection and their support…

Bolloré Ports, the benchmark operator of port terminals in Africa, Asia and the Americas, has just launched the “Green Terminal” labeling process with the objective of contributing to the reduction of the carbon footprint of its activities by relying on on a precise methodology covering all environmental concerns. This approach, a first in the port sector, has been validated by Bureau Veritas, one of the main world leaders in testing, inspection and certification. The Bolloré Ports Green Terminal label is based on eight fundamental pillars: Optimized management thanks to an environmental management system based on the ISO 14001 Standard, Eco-societal…

BNDE, LAS and 2AS signed two agreements on Wednesday June 02, 2021, which mark the start of a strong partnership that is greatly appreciated by the three parties. Indeed, through these agreements, BNDE undertakes to support the two airport structures within the framework of the Economic and Social Resilience Program (PRES), set up by the State of Senegal, following the occurrence of the pandemic. COVID-19. This partnership will also allow BNDE to have better visibility within AIBD with strategic locations. The Bank will thus be able to extend its network with automatic teller machines and dedicated offices in order to…

Can the resilience of the Ivorian economy absorb the consequences of the pandemic and boost growth? It was with this open question, up to the challenges of the African and global economy that the fifth edition of the Bloomfield Investment Corporation conference kicked off. The opening panel, moderated by journalist Alain Foka, will be broadcast this Sunday, June 6, 2021 on RFI and France 24. Beyond the Sofitel Abidjan and the virtual world, all classes of market finance but also so-called seated finance (accountants, lawyers, legal advisers, notaries) were represented. Credit risk and insurance specialists, economic intelligence strategists, the…

The State of Mali, through the National Directorate of the Treasury and Public Accounts, obtained on June 2, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 44 billion FCFA (131.697 million d ‘euros) following its simultaneous issuance of 5- and 7-year Treasury stimulus bonds (ORD) organized in partnership...

Alongside the companies Gridworks Partners and AEE Power Ventures, the Pan-African industrial group Eranove has signed with the government of the Democratic Republic of Congo (DRC), represented by the Congolese Minister of Hydraulic Resources and Electricity, Mr. Mwenze Mukaleng, the 22-year concession agreement for the design, development, financing, construction, production, operation, maintenance, marketing, distribution and maintenance of three solar mini-grids in the towns of Gemena , Bumba and Isiro, in the north of the Democratic Republic of Congo. Also present at this signing ceremony were the Governors of the three provinces concerned, the Ambassador of the United Kingdom in the…

Senegal proceeded, this Wednesday, June 02, 2021, to the pricing of a new Eurobond issue (sovereign bonds) for 775 million euros, or 508 billion FCFA, with a fixed interest rate of 5.375% over a final maturity of 16 years. This operation was a resounding success in terms of the level of mobilization of international investors, with an oversubscription rate equal to nearly six times the amount sought by Senegal, and in terms of the quality of the order book, with institutional investors. reference in this field. Faced with the high interest after three years of absence from the markets, Senegal…

The Board of Directors of AFG Holding SA, which met on Tuesday, June 01, 2021, appointed Mr. SIONLE YEO as Chief Executive Officer of AFG Holding SA and Mr. Antoine GANGA as Secretary General. Mr. Sionlé YEO, previously Regional Director of Société Générale for Central and East Africa, has held senior positions including those of Managing Director Société Générale Ghana, Managing Director of Société Générale Burkina Faso, Deputy Managing Director and Managing Director Financial and IT of Societe Generale Côte d’Ivoire. He has more than thirty (30) years of experience in the banking sector in sub-Saharan Africa and the Indian…

NAIROBI, Kenya, 1 June 2021  – Adenia Partners, a private equity firm investing in Africa, today announced it has completed the acquisition of Africa Biosystems Limited (ABL), a leading distributor of life sciences and clinical diagnostics equipment in East Africa. Financial terms of the deal were not disclosed. Established in 1999, ABL is headquartered in Kenya with subsidiary offices in Uganda and Tanzania. The Company’s instruments are used to conduct research and diagnosis across the animal, human and crop sectors with product applications that span molecular, cell and protein biology and DNA forensics. ABL’s customers fall into various end markets including…

The strategy to protect local milk in the region is still not funded by ECOWAS and its member states On the occasion of the celebration of World Milk Day, marking the 3rd anniversary of the “My milk is local” initiative, more than 55 organizations of local milk producers from Burkina Faso, Mali, Niger, Senegal, Mauritania and Chad accompanied by a large coalition made up of regional farmer organizations, consumers, researchers, NGOs, mini-dairies and local industrialists have combined their voices to ask the heads of State of ECOWAS member countries to finance the national milk action plans arising from the regional…

France announces a 1 billion euro plan to strengthen cyber security. The US president signs an executive order on cybersecurity that provides for the establishment of a cyber incident review committee by creating a body that would investigate major hacks. Faced with the risks induced by the numerous digital transformation projects initiated by several African countries, the issue of digital security or even cyber security is more than ever a national security priority. In this interview, Didier SIMBA, Head of Information Systems Security (RSSI), President and Founder of the Club of Experts on Information Security in Africa (CESIA), explains the…

The shareholders of the company Bernabé Côte d’Ivoire, a subsidiary of the multinational of the same name and specializing in the marketing of hardware products, will be weaned, for the second consecutive year, from dividends for the financial year 2020, according to the financial statements of summary verified by the statutory auditors and made public by the managers of this company based in Abidjan. In fact, in the profit allocation plan for the fiscal year ended December 31, 2020, which will be submitted for approval to the Ordinary General Meeting of June 28, 2021, no amount was mentioned under the…

StarNews Mobile, the main mobile video network enabling celebrities and influencers to monetize their fan bases in Africa, has announced its agreement with Orange Content, a subsidiary of Orange SA, to give access to its high-quality video platform to 150 million Orange subscribers in 15 African countries. Through this alliance, StarNews Mobile and Orange will fulfill their joint commitment to provide Orange subscribers with the most relevant local video content, while creating a new revenue model for the talented but too often overlooked African content creators. The challenge is great: Africa has 650 million mobile phone users, more than the…

Cameroon’s Minister of Housing and Urban Development, Ms. Célestine Ketcha Courtès, will assume the presidency of the AGM Bureau during the company’s 40th AGM. Nairobi: May 28, 2021: Kenya Transport, Infrastructure and Housing Cabinet Secretary James Macharia, who is the current Chair of the Shelter-Afrique Annual General Assembly (AGM) Bureau, will convey the coat to the Minister of Housing and Urban Development of Cameroon, the Honorable Célestine Ketcha Courtès, during the 40th AGM of the Company and the annual housing symposium which will take place from June 20 to 26, 2021 in Yaoundé, Cameroon. Ms. Courtès was elected first vice-chair…

Relief and hope are the feelings best shared by the women and other actors of the Yoff Fishing Pier following the opening of the DER / FJ nano-credit bureau this Thursday, May 27, 2021. The official launch ceremony of this nano-credit bureau took place under the chairmanship of the Minister Delegate General of the DER / FJ Mr. Papa Amadou Sarr, the Mayor of the Municipality of Yoff Mr. Abdoulaye Diouf Sarr and in the presence of the managers of the Yoff fishing wharf , beneficiaries, DER / FJ partners and the Pikine Fish Market Director. The establishment of the…

The Attijariwafa bank group and Al Amana Microfinance, faithful to their vocation as benchmark societal players committed to strengthening access to financial services and proactive financing for very small businesses and project leaders, are joining forces through an innovative mechanism of financing for these operators. It is thus, and within the framework of a common ambition to support the dynamic growth of the entrepreneurial fabric, that the two parties concluded a partnership agreement on May 26, 2021 in the presence of Mr. Mohamed EL KETTANI, Chairman and CEO. General of the Attijariwafa bank group, and Mr. Ahmed GHAZALI, President of…

Ecobank Transnational Incorporated (“ETI”), parent company of the Ecobank Group, the leading pan-African bank present in 34 countries, today held its 33rd Annual General Meeting (AGM) and Extraordinary General Meeting online. The President of the Ecobank Group, Mr. Alain Nkontchou, clarified: “I became President of the Ecobank Group in June 2020, when our world was already facing the Covid-19 pandemic. We have offered our support in many forms to customers, employees, communities, health authorities and governments. Thanks to our multiple distribution channels and our substantial investments in technology, we have been able to ensure flawless service continuity. We intend to…

Scholarship applications will open on May 3, 2021 for entrepreneurs working and living in Ethiopia, Ghana, Nigeria, Kenya, Rwanda, Senegal and Uganda. MIT’s Legatum Center for Development and Entrepreneurship has launched the Foundry Fellowship, a groundbreaking leadership program for successful entrepreneurs who are reflecting on their role in shaping the future of the African innovation ecosystems in which they work and live. . At an inflection point in their entrepreneurial journey, fellows will learn from MIT faculty how to connect with investors and expand their network of innovative peers. The scholarship is open to entrepreneurs who work and live in…

On the sidelines of the second stage of its “Regional Investment” roadshow, which took place on Tuesday, May 25 in Rabat, the BCP group signed a partnership agreement with the Moroccan Agency for Energy Efficiency (AMEE). This aims to encourage the decarbonisation of companies in order to enable them to improve their competitiveness and reduce their carbon footprint. This meeting was broadcast online in real time, in strict compliance with the health rules imposed by the local authorities. In the preamble, Mr. Mohamed Karim Mounir, President of the BCP group addressed a word of welcome to all the participants. In…