Author: Adama WADE

In a media landscape where fake news often overshadows the truth, Yacoub Sidya, CEO of MSS Security, Global Aviation, and Phoenix Precious Metals, believes that disinformation is one of the weapons used by hidden lobbies. In this interview, Sidya, who refuses to see himself as a victim, discusses business in general, his entrepreneurial journey, and addresses alleged connections with Russia. Some newspapers have accused you of having ties with Nordgold, a mining company owned by sanctioned Russian billionaire Alexei Mordashov. What do you have to say about this? To clarify, I have never denied knowing or working with NordGold. They…

Appointed Senior Executive Vice President (Finance, Administration, and Banking Services) of Afreximbank in December 2023, Denys Denya has a clear view on the evolution of the bank’s operations, the treasury situation, market exposure, and, among other things, outstanding credit. Having been with Afreximbank for ten years, the finance executive has played a role in increasing and diversifying the bank’s funding sources, seeking liquidity, and growing the balance sheet, asset quality, and financial reporting fidelity. Financial Afrik interviewed him on the sidelines of the latest Afreximbank assemblies held in the Bahamas from June 12 to 15, 2024. Afreximbank announced a disbursement…

Adama Wade, Special Envoy to Nassau, Bahamas. The 31st annual assemblies of the African Export-Import Bank (Afreximbank) opened on June 12, 2024, in Nassau, Bahamas, with a welcoming speech by John A Rolle, Governor of the Central Bank of the Bahamas. Speaking next, Denys Denya, Vice President of Afreximbank, emphasized the need for a strong...

“Our exposure in West Africa is the highest among all regions ” Manuel Moses, the General Director of the African Trade and Investment Development Insurance (ATIDI), granted an interview to Financial Afrik regarding the positioning of this multilateral insurer, which contributes to covering various risk classes for partners, donors, investors, and suppliers. Leading ATIDI since 2020, this Zimbabwean executive, a former IFC member, brings 25 years of experience in finance, banking, insurance, and investment on an international scale, including 15 years at the IFC where he held the position of Country Manager for East Africa. He has also held senior…

Chadian financier Abbas Mahamat Tolli has just been endorsed by the heads of state of the Economic Community of Central African States (ECCAS) as a candidate for the presidency of the African Development Bank (AfDB). Here are his impressions in an exclusive interview with Kapital Afrik. The ECCAS has designated you as a candidate for...

By Adama Wade  In a world where financial markets are increasingly interconnected, Africa is taking a major step forward. On Thursday, November 23, 2024, during the 30th anniversary celebration of the African Securities Exchanges Association (ASEA) in Nairobi, a historic event occurred: for the first time, shares listed on the Nairobi Stock Exchange were traded on the Regional Securities Exchange (BRVM). This moment marked a giant leap in African economic integration. This operation, which took place under the watchful eye of Kenyan President William Samoei Ruto, illustrated the immense potential for collaboration between African financial markets. It was carried out…

« AIF provides a unique platform for the project developers » For Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC) and the Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), this AIF edition in Marrakech is unique as it is focus on value chain. The CEO who represented Islamic Developpement Bank president H.E. Dr. Muhammad Al Jasser, has answered to our questions. How can this Africa Investment Forum (AIF) bring investors together and create great opportunities for the continent? This forum is unique as it focuses on project investment and financing opportunities,…

By Adama Wade, Marrakech Far from the devastation that followed the deadly earthquake on Saturday, September 9, the wooden, aluminum, and renewable material structures set to house the annual assemblies of the World Bank and IMF have absorbed the shock well. “No significant damage,” said one of the officials responsible for this massive construction site, covering 50 hectares and expected to host 140,000 delegates from 190 countries worldwide. The event is scheduled from October 9 to 15, 2023, at the Bab Ighli site. Over a thousand workers labor daily at this site, adjacent to the old city, the Medina, which has…

“Our vision is to build a world-class bank and contribute to the financial and economic integration of Africa!” Having taken office in March 2023 as the CEO of the foremost Pan-African banking group, Kenyan banker Jeremy Awori gave an exclusive interview to Financial Afrik. He discussed the outlook for Ecobank Transnational Incorporated (ETI), his top priorities to boost profitability, the situation in specific strategic countries, and the disconnection between the stock price of the group and its fundamentals. Exclusive. You’ve been at the helm of the Ecobank TI Group for a few months, the first Pan-African group by its geographical…

Head of the U.S. Trade and Development Agency (USTDA), Nigerian-born lawyer Enoh Ebong was among 17 senior U.S. officials who were in Marrakech from July 17-20 2022, on the sidelines of the USA-Africa business meeting. Established in 1992, the USTDA promotes growth in developing countries, while creating American jobs through exports. What conclusions can we draw from this USA-Africa business meeting? The USTDA is a US government agency with a unique dual mission. We are a foreign aid agency that develops high quality sustainable infrastructure in emerging economies overseas. At the same time, we have a mandate to support American…

The appetite of investors is turned towards renewable energies, Fintechs and high-impact startups. This is what we see through this Focus on investments and exits of private equity funds in Africa produced with data from the African Venture Capital Association (AVCA). Amethis and IFC sell their stake in the Kenyan distributor Naivas to Proparco and DEG Amethis, alongside its partners, DEG, MCB Private Equity and IFC, a member of the World Bank Group, reached an agreement at the end of June 2022 to sell its stake in Naivas International (Mauritius), which owns 100% of the shares of Naivas Limited, a…

A perfect illustration of the need for African powers to invest in trading and group purchasing to overcome the high cost of living A solemn photo taken on August 1 under the clichés of cameras around the world and a humanitarian cause highlighted. But the Razoni cargo ship, one of the first 5 to leave the port of Odessa thanks to the Russian-Ukrainian treaty obtained under Senegalese-Turkish auspices, has still not reached the port of Beirut. The Ukrainian ambassador stationed in the land of cedars had nevertheless invited the press and prepared the petit fours but had to cancel at…

While the talks between Ukrainians and Russians, conducted under Senegal-Turkish auspices, have enabled a first shipment of cereals from Odessa, Africa holds its breath and counts the days. The disruption of international supply chains, already weakened by the pandemic, has been compounded by the war in Ukraine creating a snowball effect on food and fertilizer markets, which are interdependent. In June 2022, the number of acutely food insecure people – that is, people whose short-term access to food has reduced to the point of putting their lives and means at risk livelihoods – reached 345 million in 82 countries, according…

In three years, BNP Paribas will have liquidated its holdings in 8 subsidiaries in Africa excluding Morocco, Algeria and South Africa. In Côte d’Ivoire, the sale process of the Banque internationale pour le commerce et l’industrie de la Côte d’Ivoire (BICICI), a subsidiary of the French group BNP Paribas, is in its final phase. The offer is almost closed. Only one candidate is in the running because of the solidity of its technical and financial offer and the will of the Ivorian State to constitute a large public banking pole. According to our information, it is a consortium made up…

“Our success is based on strict adherence to the fundamentals of good governance” President of the Republic of Botswana since 2018, Mokgweetsi Masisi was one of the stars of the United States – Africa business summit which took place in Marrakech from July 18 to 21, 2022. At the head of the only African investment grade country ( A3 with Moody’s and BBB+ with S&P Global Ratings), this professor of social sciences has been able to maintain his country’s good reputation with foreign investors and the financial market in general by continuing in the tradition of administrative transparency initiated by…

Tunisie Telecom, BSA telecommunication and COMATEL announce the signing, on March 14, of an exclusive agreement with the company TELECEL Group for the sale of 100% of the shares of the company Mauritano-Tunisienne des Télécommunications (Mattel) Mattel is the first mobile operator in Mauritania to have launched the GSM service. Since its creation on May 11, 2000, the result of cooperation between Mauritanian and Tunisian economic operators, Mattel has always relied on the quality of its network, the professionalism of its staff, the leadership of its management team and proximity to its customers. Mattel is a major player in the…

On the eve of the meeting of African insurers, the Secretary General of CIMA, Blaise Abel EZO’O ENGOLO talks about the achievements of the Institution and the challenges to be met in terms of technological and financial innovation as well as communication. . You were elected a year ago and you took up your duties as Secretary General of the Inter-African Conference on Insurance Markets (CIMA) in April 2021. Could you tell us about this institution, particularly with regard to concerning the objectives and missions assigned to it? Thank you for this opportunity which allows me to provide you with…

The Regional Stock Exchange (BRVM) hosted on February 28, 2022, the listing ceremony of the bond loan “FTC Teyliom Immo 7% 2021-2028 (FTIMC.01). The public offering made it possible to raise 20 billion FCFA (30 million euros) at the rate of 7% over a subscription period spread out from May 20 to June 18, 2021. The UCITS subscribed to the volume collected for about 67%. In addition, 56% of subscriptions came from Côte d’Ivoire against 8% for Senegal. The early closing of the loan, in one week, testifies to the depth of the market and the appetite of investors for…

The perpetrators of the three coups in Mali, Guinea and Burkina Faso have in common the attempt to legitimize their putschs by denouncing the failures of democratically elected presidents and the subjugation of their victims to the West. It’s true, neither Alpha Condé, who remained in power for more than ten years (a lost decade for Guinea), even less Ibrahim Boubacar Keita (7 years on the heights of Koulouba) or Roch Marc Christian Kaboré (tenant of the Koysam palace since 2015) have improved the standard of living of their citizens. Worse, they have for the most part seen corruption scandals…

The managing director of Shelter Afrique, Andrew Chimphondah, has just been sacked with immediate effect, Financial Afrik has learned from well-informed sources. The CFO, Kingsley Muwowo, will take over until the announcement of the vacancy of power and the appointment of a new director. This is what emerges from a tense board meeting held on Thursday, February 17, 2022 and which continued late into the evening. Of Zimbabwean origin, Andrew Chimphondah saw his management splashed by a series of scandals which led to the shortening of his mandate which would run until 2024. The scandals revealed by Financial Afrik are…

Shelter Afrique is holding a session of its board of directors at the beginning of February 2022, coupled with a retreat for directors. The face-to-face meeting comes as the pan-African institution specializing in the financing of social housing has been mired in a crisis that has not ended for a year. On the eve of this board of directors, there is reason to wonder if in the end the directors will look into the many files revealed by Financial Afrik or hide the dust under the rug and move on. As a reminder, most of the fraudulent acts denounced by…

Visiting Senegal, the Managing Director of the IMF was welcomed on Saturday December 11 at the headquarters of the Delegation for Rapid Entrepreneurship (DER / FJ) of women and young people. Setting the scene, the Minister Delegate for the DER / FJ, Pope Amadou Sarr first recalled the economic situation in Senegal. The country is counting on growth of 5.1% in 2021 and a projection of 10.8% in 2023. “We are heading towards emergence irreparably,” said Pope Amadou Sarr. And to present to the Director of the IMF this innovative structure created in 2017 under the leadership of President Macky…

The herd reflex of turning in on oneself seems to have taken over science. Long before the dangerousness of the Omicron variant of the Sars-Cov-2 virus, discovered less than a week ago in South Africa, was formally established, politicians seem to have given in to panic, ignoring the recommendation of the Organization World Health Organization (WHO) especially not to close the borders and to trust science. The WHO said in a statement on Friday that the new variant of Covid-19, B.1.1.529, had a large number of mutations, some of which are of concern. For her part, Dr Angelique Coetzee, president…

Convergence, integration and governance. These are the three areas of intervention broken down into 23 flagship actions of the West African Economic and Monetary Union (UEMOA) within its framework of Priority Actions “CAP25” for the period 2021-2025. Africa’s most integrated area is developing a roadmap focused on accelerating integration, economic convergence and deepening the common market. The college of commissioners, which took office last May under the chairmanship of Senegalese Abdoulaye Diop, has thus equipped itself with an instrument for planning and steering its flagship interventions during his term of office. The exercise was all the more urgent given that…

Arrived in January 2021 at the head of Rawsur SA with a clear roadmap, Bernard BARTOSZEK has just completed his mission. The insurance professional passed the torch to Tarik LEFRIYEKH, new general manager. Tarik LEFRIYEKH. As COO (Chief operating officer) of Rawsur since 2017, the new CEO, of Moroccan nationality, is also a seasoned professional, graduate of HEC, former deputy director general of Axa Maroc and, among others, former member of the Moroccan advisory committee insurance, body co-opted by the Ministry of Finance. With 30 years of experience, including 20 with Axa in France and 6 years with Ogar, Gabon’s…