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December 19, 2024 The ECOWAS Bank for Investment and Development (EBID) has approved a total funding package of FCFA10 billion and €40 million to support the development of SMEs and SMIs in Côte d’Ivoire. This commitment was made during the 90th ordinary meeting of its Board of Directors, held on Thursday, December 19, 2024, via videoconference. The meeting was chaired by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID. The funding package is in respect of two projects: These approvals align with EBID’s financial sector development strategy, which aims to improve access to financing…

In a landmark achievement, the Advisory Board of the African Sustainability Awards in partnership with United Nations Educational, Scientific and Cultural Organization (UNESCO) has selected the ECOWAS Bank for Investment and Development (EBID) as the winner of the Financial Institution of the Year – Africa category at the Africa Sustainability Awards. The award will be presented during an event slated for 30th December 2024 at the Accra International Conference, Accra, Ghana. This award recognizes EBID’s outstanding dedication to sustainable practices across Africa and its commitment in advancing Africa’s environmental, social and economic progress in line with the UN Sustainable Development…

Rabat, 11 December 2024 – The African Development Bank (AfDB) has signed a coordination agreement with Deutsche Bank and Société Générale to establish a syndication strategy aimed at mobilizing up to $1.2 billion for Tanzania’s Standard Gauge Railway (SGR) project. The agreement was finalized during the 2024 Market Days of the African Investment Forum in...

Cairo, 10 December 2024 – Africa50, the pan-African infrastructure investor and asset manager, has announced a USD 15 million equity investment in Raya Data Center (RDC). Subject to regulatory approvals, the investment aims to strengthen RDC’s existing operations and fund the development of a greenfield tier III data center in Egypt, bolstering the country’s growing...

By Balla Moussa Keita, special correspondent in Brussels. On 30 November 2024, at the Dome Eventhall in Brussels, an unprecedented event was held on the theme of “East Africa, cradle of humanity and the future”, organised by Komera Conseil, founded by Sarah Ndikumwami, and the company Increate, owned by Kevin Mberimfura and alongside Ornella Gateka. The objective was clear: to highlight a region whose potential and visibility are still too modest. The event brought together an audience mainly composed of young people from the African diaspora, ready to contribute to the development of the continent. Warmly welcomed by an impeccable…

McKinsey Africa will pay $122.85 million as fine to conclude a criminal investigation into a years- long bribery ring involving South African officials, the United State (U.S) Department of Justice (DOJ) has revealed. The DOJ was investigating McKinsey and Company Africa which is wholly owned by international consulting firm McKinsey & Company for bribing government...

The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has highlighted the importance of Development Finance Institutions (DFIs) in expanding capital to finance economic growth. He made the remarks during a series of public lectures on the topic “Shaping Africa’s Development Finance Landscape: Challenges and Prospects” held at the University of Development Studies (UDS) School of Business in Tamale, Ghana. Addressing the financing constraints faced within capital markets, the President of EBID pointed out that where private credit may struggle in response to economic crises, DFIs are…

“Between Nigeria and France, there is a Special Relationship at a Special Time” On the sidelines of the State Visit of H.E. Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, to France (November 27 – 29, 2024), Financial Afrik & Kapital Afrik spoke with the Chairman of Access Holdings PLC, Aigboje Aig-Imoukhuede, who presides the France-Nigeria Business Council. He expressed his satisfaction on the way government relationships are evolving between France and Nigeria, but also on the many opportunities given to the private sector -especially the banking sector- to get involved. By Christine Holzbauer, Special Envoy Are the…

Equity has signed a trade credit financing agreement with BpiFrance, the public investment bank of France, to strengthen support for Small and Medium Enterprises (SMEs) across Kenya and the broader East African region. The partnership was signed and unveiled during French Week 2024, jointly organized by the French Chamber of Commerce and the French Embassy in Kenya, which culminated in the business networking event, ‘Inspire and Connect East Africa’. The partnership will provide SME investors with financing options in both US dollars and Kenya shillings, enabling them to scale their operations across the six countries where Equity operates. Dr. James…

The General Commissioner of The Africa Road Builders – Trophée Babacar Ndiaye conducted a mission to Malabo, Equatorial Guinea, from November 16 to 22, 2024. This mission was part of the follow-up to the Babacar Ndiaye Trophy, awarded this year to the President of the Republic of Equatorial Guinea, H.E. Teodoro Obiang Nguema Mbasogo. During his stay, the General Commissioner had the great honor of being received in audience by H.E. Teodoro Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea and Head of State. At the General Commissioner’s suggestion, H.E. Teodoro Obiang Nguema Mbasogo agreed to host, in…

On November 22, 2024, the inaugural session of the U.S.-Senegal Joint Economic Commission took place in Washington, D.C., marking a significant step in strengthening economic ties between the two nations. The U.S. delegation, led by Deputy Secretary of State Kurt Campbell, and the Senegalese delegation, headed by Foreign Minister Yacine Fall, convened to discuss key areas of mutual interest and promote bilateral economic cooperation. The Commission embodies the shared vision of the United States and Senegal to advance investment opportunities, foster business partnerships, and stimulate sustainable economic growth. Both parties reaffirmed their commitment to deepening bilateral economic and commercial cooperation,…

Ecobank Transnational Incorporated (ETI), parent of the leading pan-African Ecobank Group and the largest pan-African bank with a presence in 35 countries, today opened the market at the London Stock Exchange (LSE) to celebrate the successful issuance of its US$400 million Senior Unsecured Eurobond on the London Stock Exchange main market. Jeremy Awori, CEO, Ecobank Group, said: “Our successful Notes issuance demonstrates how Ecobank is blazing the trail for sub-Saharan African financial institutions and corporates in accessing the international capital markets. The Notes are ETI’s third issuance on the international bond markets and the first public Eurobond issuance by a financial…

Kinshasa, DRC – Having recognized the significance of the Democratic Republic of theCongo (DRC) in the global green energy transition, the importance of its strategic minerals, and its food production potential in contributing to global food security, Equity Group Holdings Plc (EGH), noting its position as Africa’s strongest financial brand with a 14 billion USD balance sheet as at 30 June 2024 and global shareholders Norfund, NorFinance, Rabobank Partnerships and FMO through the Arise Investment and the World Bank through IFC, is committed to supporting the DRC to achieve its national objectives as set out in the National Development Plan…

The Emerging Africa & Asia Infrastructure Fund (EAAIF), part of the Private Infrastructure Development Group (PIDG), managed by Ninety One, has acted as the sole impact investor in Africell’s oversubscribed USD300 million debut international bond issuance. With orders exceeding USD550 million, EAAIF scaled back its anchor investment from USD40 million to USD28 million, allowing more private investors to participate. The funds raised will support Africell’s digital infrastructure expansion across Angola, the Democratic Republic of Congo (DRC), The Gambia, and Sierra Leone, benefiting its current 14 million subscribers and paving the way for future growth. Magase Mogale, Africell’s Executive Vice President,…

Shelter Afrique Development Bank (ShafDB), a leading Pan-African multilateral development bank, dedicated to financing and promoting housing, urban & related infrastructure development across the African continent, has been honored with the prestigious “Pan-African Development Bank Leadership Award – A Pioneer in Housing Finance” for its outstanding contributions to the development of the continent. The award, presented during the 40th Anniversary Gala of the African Union for Housing Finance (AUHF) and the International Secondary Mortgage Market Association (ISSMA), recognized Shelter Afrique Development Bank for its pioneering leadership and 42 years unwavering commitment to advancing sustainable development in Africa’s housing sector. This…

Lomé, October 15, 2024 – The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, signed a loan agreement granting a line of credit in the amount of EUR 20 million to the Bank of Commerce and Industry of Guinea (BCI Guinée). This loan facility will be used to finance small and medium-sized enterprises and industries (SMEs and SMIs) in the Republic of Guinea to contribute to the development of entrepreneurship and the promotion of SMEs/SMIs, particularly in the agricultural value chain and related sectors of activity, with…

Lomé, 3 October 2024-The ECOWAS Bank for Investment and Development (EBID) and CORIS Bank International Côte d’Ivoire have extended a loan facility in the amount of EUR 58 million to Atlantic Cocoa Corporation in the Republic of Cote d’Ivoire. This syndicated facility, which was approved during the 89th Session of the Board of Directors of the Bank on Tuesday, 1st October 2024, is intended to finance the construction and operation of a cocoa processing plant in San Pedro by Atlantic Cocoa Corporation Côte d’Ivoire. It is part of EBID’s efforts to support Cote d’Ivoire with the development of key industries…

Washington, DC, USA – 14 October, 2024 – The African Trade & Investment Development Insurance (ATIDI), and the Multilateral Investment Guarantee Agency (MIGA), part of World Bank Group Guarantees, have signed a three-year partnership to accelerate foreign direct investment across Africa. This is the second agreement between the two organizations aimed at maximising development impact. The organizations will collaborate by leveraging ATIDI’s expertise in insurance and guarantee products across the African continent and MIGA’s range of guarantee solutions and guarantee expertise through the World Bank Group guarantee platform. The partnership will also seek to improve efficiency in joint project due…

Nairobi, 11 October 2024 — At its 101st meeting held on 5 October 2024, the Board of Directors of the African Trade Insurance Agency (commonly known as the African Trade & Investment Development Insurance – ATIDI), announced the election of Professor Kelly Mua Kingsly as the new Chair of the Board. He is deputized by Ms. Christina Westholm- Schröder. The election of the new Board leadership follows the appointment of new Board Members by ATIDI’s Annual General Meeting in line with ATIDI’s continued commitment to strong corporate governance. The new Board, which includes ATIDI’s first Independent Director, will play a…

AXA Climate announces the official launch of Altitude for businesses, an innovative platform designed to measure the impact of climate risks, implement an adaptation strategy and feed into their CSRD reporting. Based on a set of proprietary data derived from the latest IPCC report, Altitude quantifies the medium- and long-term climate risk weighing on companies’ sites and activities, taking into account the specific local characteristics of each company, business sector and biodiversity. It helps companies to manage their climate strategy, from anticipating and measuring the impact on their activities to implementing adaptation measures. AXA Climate, which has been working with industrial companies for a long time through its consulting and training activities, is thus strengthening its offer of support to make climate adaptation effective. Capitalising on these years…

On 26 September 2024, on the occasion of the Pointe-Noire Business Forum, Congo Terminal announced the construction of a new port terminal at the port of Pointe-Noire for a total investment of almost 400 million euros. In view of the exclusive terms offered to Congo Terminal and in anticipation of the growth of its activities, the company is building a new container terminal, Congo Terminal ‘Môle Est’, on which work has already begun and which will be operational in 2027. The new terminal will have 750 m of quays with a draught of 17 m, 26 hectares of quayside and…

On September 25, 2024, the pan-African group AXIAN announced its entry into the capital of the Ivorian start-up WiASSUR, specialized in insurance. Through its investment vehicle, AXIAN Investment, the operation carried out in July 2024 allows AXIAN to become the second-largest shareholder of WiASSUR, thereby strengthening its commitment to the insurance sector in Africa. WiASSUR...

The Executive Secretary of the Economic Commission for Africa (ECA), Claver Gatete, has emphasized the need for Africa’s youth to play a central role in shaping the continent’s future. During a meeting on “Transforming Africa with Youth-Driven Solutions” in New York on September 20, he called for concerted efforts to unlock the potential of Africa’s youth for sustainable growth. “Africa’s youth are not just the future; they are the present driving force of our continent, and they must have a decisive role in shaping our pact for the future,” said Mr. Gatete during the session held ahead of the Summit…

In a major development in African finance, just three days after acquiring the Access network, AFG Holding, a pan-African banking group, has now taken control of Société Générale in Guinea. This marks the continued resurgence of Ivorian businessman Koné Dossongui, further cementing his position at the forefront of African finance. Société Générale has signed an agreement with Atlantic Financial Group (AFG), a leading pan-African banking group, to sell its 57.93% stake in Société Générale Guinea. The agreement stipulates that AFG will take over the entirety of Société Générale Guinea’s operations, including all customer portfolios and staff. The transaction is expected…

Khadija Komara is the new Director of Communications and Philanthropy at Africa Global Logistics. She succeeds Dieudonné Gaibai who is now taking over the operational management of AGL Côte d’Ivoire under the leadership of Asta Rosa Cissé, Regional Director of AGL Côte d’Ivoire/Burkina Faso region. After 15 years at Orange as Director of Institutional Communication for Orange Africa, where she managed a communication network across 17 African countries, Khadija Komara will now oversee communication and philanthropy for the leading logistics operator in Africa. As part of her duties, she will contribute as a member of AGL’s Executive Committee to the…

The African Trade and Investment Development Insurance (ATIDI) has announced a donation of USD 40,000 to Street Child to build six classrooms in two primary schools in Gatumba, Burundi. This initiative aims to support the education of children displaced by recent climate-related disasters. Manuel Moses, CEO of ATIDI, stated: “By funding the construction of these classrooms, we are investing in the future of young talent while promoting the continent’s long-term growth.” Jolien van den Broeck, Representative of Street Child in Burundi, added: “This support will help restore hope and create opportunities for the children of Gatumba.” This project aligns with…

Moustapha Sow is a Senegalese financier who firmly believes that Africa should be built by Africans while acknowledging the need for external contributions. According to him, doing business in Africa is challenging. “Sometimes, I’m forced to put a white person forward to make progress,” he admits. He emphasizes the need to change perceptions: “For the same services, they’re willing to pay three times more abroad. Let’s not get discouraged. Let’s follow Mandela’s work. We’re living in a crucial moment. Change will come.” The company he founded in 2017, SF Capital, initially focused on investment and financing banking with only 2…

Lomé, 4 September 2024 The ECOWAS Bank for Investment and Development (EBID) has signed a €20 million Wakala Framework Agreement (loan agreement) with MANSA BANK to support private enterprises in key sectors, including agriculture, agro-industry, services, renewable energy, education and health in Côte d’Ivoire. This financing extended to MANSA BANK aims to stimulate sustainable growth, promoting private sector development, and creating jobs in the ECOWAS region. The agreement follows the first facility of €30 million granted in December 2023, bringing EBID’s total commitments in Côte d’Ivoire to approximately USD 710 million, demonstrating the Bank’s continued efforts to providing financial solutions…

The Consortium comprising IMPAXIS, Lead Arranger and Leader, Coris Bourse and EDC Investment Corporation, respectively Co-Arranger and Co-Leader, is delighted to inform the market of the early closing of the ‘GSS BIDC-EBID 6.50% 2024 -2031’ bond. This FCFA 70 billion transaction is a ground-breaking innovation in the regional public offering market, as it is the first issue of a Green, Social and Sustainability (GSS) Bond on the said market. It was completed in less than 5 days of subscription, thanks to the enthusiasm of investors for the issuer – the ECOWAS Bank for Investment and Development (EBID) – and sustainable…

“In the context of the weakness of the international financial architecture, we must first mobilize internal savings and strengthen our institutions.” President of the African Development Bank (AfDB) for ten years, from 2005 to 2015, Donald Kaberuka was one of the key economists speaking at the Afreximbank Annual Meetings (June 12-15, 2024, in Nassau) alongside Jeffrey Sachs. For this rather ‘sovereigntist’ economist, Africa should continue the fight to reform the global financial architecture while simultaneously building a capital market and deepening second-generation reforms. Our era is marked by repetitive crises. What economic policy should African states implement? Indeed, the world…