Author: Editor

On March 20, 2024, Africa Global Logistics (AGL) signed the contract to manage the Walvis Bay Multipurpose Bulk Terminal in Namibia, in the presence of Tony Stenning, Regional Director South Africa and Andrew Kanime, CEO of the National Port Authority of Namibia, Namport. This agreement follows an international call for tenders launched by Namport in January 2023. This decision demonstrates the confidence of the local authorities in AGL’s industrial project and reinforces its commitment to Africa’s economic transformations. Located on the southwest coast of Africa, the Port of Walvis Bay is a natural gateway for international trade. Thanks to its…

Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa, has successfully closed its fifth fund, Adenia Capital V (the “Fund”, “AC(V)” or “Fund V”) at its $470 million hard cap. The Fund, which was significantly oversubscribed, attracted commitments from new and existing investors globally. Fund V continues Adenia’s long-term investment strategy of...

In an evolving financial world, the rise of cryptocurrencies, led by Bitcoin, has revolutionized how we perceive investment and value preservation. Yet, in the shadow of this digital revolution, lies an innovative and future-oriented investment opportunity: HYDROKKEN. This dialogue, enriched with arguments from the provided documents and in-depth analysis, explores the relationship between HYDROKKEN and Bitcoin, highlighting HYDROKKEN’s unique attributes in the current financial ecosystem. *Financial Afrik: The rise of Bitcoin has marked a new era in finance, offering a refuge against inflation and centralized monetary control. However, its story reminds us of the Dutch Tulip Mania, a symbol of…

The president-elect Bassirou Diomaye Faye took the oath this Tuesday, April 2, 2024, in front of the Constitutional Council. The ceremony was held at the Abdou Diouf International Center (CICAD), in Diamniadio, 30 km north of Dakar, the capital. The event took place in the presence of the heads of state of Cape Verde, Gambia, Guinea-Bissau, Guinea Conakry, Mauritania, Sierra Leone, as well as the Prime Ministers of Mali and Rwanda. The presidents of the commissions of the African Union, the Economic Community of West African States (ECOWAS), and the West African Economic and Monetary Union (UEMOA) attended the oath-taking…

African Export-Import Bank (Afreximbank) has partnered with Sterling Bank to introduce the innovative supply chain finance product ‘Payables Finance’, in Nigeria. This product, branded as ‘Afreximbank Tradelink,’ is one of Afreximbank’s digital offerings under the umbrella of the Africa Trade Gateway (ATG). ATG provides African corporates and commercial banks with relevant digital tools to access market information, connect with buyers and sellers across the continent for efficient marketing and procurement, facilitate Know Your Customer (KYC) processes, and promote trade payments between African countries in local currencies. Payables Finance enables suppliers to access financing from the banking system by obtaining early payment for…

Access Holdings Plc, the largest finance holding company in Nigeria, has announced a remarkable profit after tax of N612.4 billion, reflecting an astounding 300% surge compared to the previous year. This unprecedented profit stands as the highest ever recorded by the company, a testament to its robust performance under the leadership of the late Herbert...

A strategic dialogue on new investment ideas for West Africa The Bourse Régionale des Valeurs Mobilières (BRVM), one of the world’s most successful regional stock exchanges is coming to South Africa for the highly anticipated launch of its third BRVM Investment Days Roadshow. The BRVM investor tour will start in Johannesburg on 7 – 8 May, followed by roadshows in London, New York and Dubai. The Johannesburg event starts with an in-depth workshop on the future of African Commodities Stock Exchanges with the Johannesburg Stock Exchange. The second day of the roadshow offers an investment conference with the opportunity for…

CMOC Group Limited (CMOC) has announced on March 22nd its record-breaking financial and operational performance for the year 2023. Demonstrating a robust YoY growth of 35.98%, the company’s net profit attributable to the parent reached 1.17 billion USD, on the back of revenues that escalated to 26.52 billion USD. The mining segment has been a standout performer, with operating cash flow reaching 2.21 billion USD. The trading sector represented by IXM concluded a historic 613% YoY growth of net profit. A historical milestone positioned CMOC as a leader in the industry. “Our exceptional financial performance this year is a testament to all the entities’…

• The financing will support the Bank’s interventions in food security and climate smart agriculture.• The two also signed an MoU to enhance cooperation between Italian and African companies. Cassa Depositi e Prestiti S.p.A (CDP) Italy, the official Italian financial institution for international development cooperation and Africa Export-Import Bank (Afreximbank) have signed a new financing facility worth €100 million to support the Bank’s interventions in food security and climate-smart agriculture in Africa. The financing adds to an initial commitment from CDP of €100 million, lifting the total financing from CDP to €200 million. The two financial institutions also entered into…

ANAVA, the fund of funds backed by the World Bank, CDC, and KFW, is excited to announce its commitment to invest €4 Million in Janngo Capital Startup Fund (JCSF), Africa’s largest gender equal technology fund and Janngo Capital Partners’ second investment vehicle. With a target size of €60 Million, the fund commits to invest in about twenty-five startups in francophone Africa, including Tunisia, targeting early-stage tech and tech-enabled startups that (1) enable Africans to improve their access to essential goods and services such as healthcare, education or financial services, (2) enable African Start-ups to improve their access to market &…

Senegal wakes up on Monday, March 25, 2024, awaiting liberating results and, at the very least, with the assurance of having consolidated its democratic model. The voting on Sunday, March 24, unfolded smoothly, almost in real-time on social media across the entire territory. And on Monday, at the crack of dawn, while it is undeniable...

The Africa Export-Import Bank (Afreximbank’s) MANSA Digital Initiative, a Pan-African due diligence platform, has been awarded four ISO standards for the effective implementation of its Information Management Systems (IMS). MANSA Digital Initiative is a pan-African customer due diligence platform created by Afreximbank to promote, expand and support both intra and extra African trade, with a special focus on value-added exports from Africa.These four certifications recognize the successful implementation of Integrated Management Systems, encompassing: ISO/IEC 27001:2022 Information Security Management Systems (ISMS), ISO 22301:2019 Business Continuity Management Systems (BCMS), ISO/IEC 20000–1:2018 Service Management System (SMS), and ISO 27701:2023 Privacy Information Management (PIMS).…

The African Export – Import Bank (Afreximbank) has officially unveiled its Fund for Export Development in Africa (FEDA) office in Kigali, Rwanda. FEDA was established to tackle Africa’s US$110 billion financing gap for intra-African trade, value-added export development, and industrialisation value chains, with Rwanda being the first among fifteen African nations to ratify its establishment agreement. The event was graced by the Right Honourable Dr. Edouard Ngirente, the Prime Minister of the Republic of Rwanda who was accompanied by the President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, Executive Vice Presidents of Afreximbank, members of the…

Nairobi, 14 March 2024 – ATIDI, the African Trade Insurance Agency, has supported Songa Energy’s 1.65 MW run-of-the-river hydro project on the Ruvyironza River in Burundi. The project, which will be the first hydro Independent Power Producer (IPP) in the country, is valued at USD 7.7 million and is set to benefit from ATIDI’s Political Risk Insurance, which will cover the risk of default by the Government of Burundi following an Arbitral Award under the Project Agreements. The project will lead to an increase in the country’s electricity generation capacity, creation of employment and avoidance of greenhouse gas emissions. The…

As the African Union (AU) continues to chart its course towards harnessing the potential of digitalisation across the continent, a significant milestone has been achieved through the signing of a memorandum of understanding (MoU) between AUDA-NEPAD and Meta. The MoU signed by CEO of AUDA-NEPAD, H.E Ms Nardos Bekele-Thomas and Mr Sir Nicholas Clegg, President of Global Affairs Meta, aims to support the implementation of the African Union Digital Strategy, the African Union Data Governance Strategy, the African Union Artificial Intelligence Roadmap, and Meta’s Data for Good initiative. Through this cooperation, both parties are committed to driving positive change and fostering a…

Adenia Partners, a prominent private equity firm focusing on sustainable investments in Africa, has reached an agreement to acquire 12 subsidiaries from Air Liquide, a global leader in industrial and medical gases. The acquisition encompasses Air Liquide entities across West and Central Africa as well as the Indian Ocean region, specifically in Benin, Burkina Faso,...

Airtel Africa, a leading provider of telecommunications and mobile money services with a presence in 14 countries across Africa, has officially broken ground on its first data centre in Lagos, Nigeria.  Nxtra by Airtel is set to be one of the largest networks of data centres in Africa, with high-capacity data centres in major cities located strategically across Airtel Africa’s footprint, complementing its existing edge sites. This development underscores the company’s commitment to meeting the continent’s data management needs by providing trusted and sustainable data centre capacity to serve the fast-growing African digital economy. The ground-breaking ceremony of the new…

  Unlimit, the global fintech company, today announced its entry into the Tanzanian market and the receival of the Bank of Tanzania (“BOT”) licence, marking another significant step in the company’s expansion within the region. The approval of Unlimit as an authorised payment service provider by the BOT will allow the fintech to provide a range of new offerings such as business payments, merchant services and outbound payments, among other things, to the Tanzanian market. The launch of Tanzanian operations marks an important step in Unlimit’s broader strategy of expanding into Africa, and follows the approval of similar licences last year in Nigeria and…

Avisen’s story began in 2000 with the meeting of two veterinarians in Senegal, sharing a common idea: develop the animal feed industry to facilitate access to animal protein. Twenty years later, the modest initial artisanal unit has grown into Senegal second largest poultryfeed manufacturer. Avisentoday produces over 100,000 tons of feedstuff per year and processes broilers in its brand-new slaughterhouse. To pursue this success story, the shareholders have decided to seek a successor able to take Avisen to the next stage while preserving the vision of the founders: to offer high-quality products at an affordable price for the benefit of…

In 2020, the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) and the Eastern and Southern African Trade and Development Bank (TDB) signed a first-of-its-kind credit enhancement facility providing a 10-year EUR 359 million guarantee for commercial bank financing extended to TDB for trade finance, with longer tenors and lower interest rates. In December 2023, MIGA and TDB expanded their cooperation, with MIGA issuing an additional EUR 349 million 7-year guarantee for a loan provided by Standard Chartered Bank (SCB) as agent on behalf of a syndicate of banks, including Citibank as arranger. The TDB-MIGA partnership has so far succeeded…

The Government of Kenya and ATIDI, the African Trade Insurance Agency, have today signed the Regional Liquidity Support Facility Memorandum of Understanding. RLSF, a joint initiative of ATIDI, the KfW Development Bank and the Norwegian Agency for Development Cooperation (Norad), is a credit enhancement instrument provided by ATIDI to renewable energy Independent Power Producers (IPPs) that sell the electricity generated by their projects to state-owned power utilities. The instrument’s scope has recently been extended to provide support for eligible transmission projects; allowing for possible private sector participation in this key sub-sector. ATIDI will issue liquidity instruments, or “RLSF policies”, backed…

Nairobi, Kenya – The banking industry is on the cusp of a digital revolution, and Nairobi, Kenya, is set to host the 11th Edition Connected Banking Summit – Innovation & Excellence Awards East Africa 2024. This summit, organized by The International Center for Strategic Alliances (ICSA), promises to be a pivotal event in shaping the future of banking across the region. The Connected Banking Summit will also feature the esteemed Innovation & Excellence Awards 2024, recognizing leaders and organizations driving innovation and excellence in the banking sector. This prestigious event will unite global executives, experts, and leaders for an insightful…

Kinshasa, February 12, 2024 – The Government of the Democratic Republic of the Congo (DRC) has announced significant progress in structural reforms within the downstream petroleum sector. These measures are part of an overall strategy to clean up and rationalize petroleum subsidies, aiming to ensure more efficient and transparent management of public financial resources. Initially, in 2022, the Ministries of Finance and National Economy jointly initiated a comprehensive audit of the Petroleum Products Price Structure (PPPS) conducted by Mazars. The audit findings, released in May 2023, highlighted several reform avenues to improve governance and efficiency in the sector. Based on…

The Pan African Payment and Settlement System (PAPSS) is proud to announce the entry of Banque Centrale de Tunisie (BCT) into its network as its thirteenth Central Bank member, further strengthening its commitment to promoting seamless cross-border payment services and enhancing financial integration across the African continent. PAPSS, developed by African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, facilitates real-time settlement of intra-African trade and payments, in African currencies, across the continent. By uniting central banks from across Africa, PAPSS seeks to address the existing challenges faced by African businesses and individuals in accessing efficient…

Africa50, the pan-African infrastructure investment platform, today announced that the Republic of Mozambique has started the onboarding process to become its new shareholder during a signing ceremony in Maputo. Honourable Ernesto Max Elias Tonela, Minister of Economy and Finance of the Republic of Mozambique signed the Share Subscription Agreement on behalf of the Government, committing the country to take the necessary steps to become an Africa50 shareholder. In joining Africa50, Mozambique will benefit from accessing world-class project development and financing expertise, fast-track the implementation of its infrastructure programme by catalyzing the participation of the private sector significantly contributing to spurring…

The Board of Directors of CGF BOURSE has appointed Mr. Kalidou DIALLO as the new Chief Executive Officer of CGF BOURSE. He will assume his role on March 16, 2024, succeeding Madame Marie Odile SENE. “Mr. DIALLO, a distinguished and respected figure in the financial sector, has an in-depth knowledge of financial markets and their instruments, investment strategies, portfolio management, and asset allocation,” states the press release from CGF Bourse.Already deeply embedded in the company’s ecosystem since 2016, as the director of CGF Gestion, an asset management subsidiary, Mr. Diallo has enhanced our management capabilities and expanded our portfolio. Before…

Abidjan, Paris 30 January 2023 – Joliba Capital, an African private equity firm majority-owned by LBO France, a multi-specialist and multi-country investment platform, and founded by two seasoned African investment professionals Hamada Tour (Managing Partner) and Yann Pambou (CEO & Managing Partner), is pleased to announce a first close of its inaugural fund, Joliba Capital Fund I, at EUR 89 million. This Rolling First Close reflects the trust and confidence that investors have placed on our vision and strategy. The Fund will principally target investment opportunities across Francophone countries in West and Central Africa to develop a diversified portfolio composed…

Kinshasa, 05 February 2024 – On the occasion of the Mining Indaba Forum, the world’s largest gathering of mining players, Rawbank, the leading bank in the Democratic Republic of Congo (DRC), announces that it has raised 200 million dollars on the international market to support the mining sector value chain in the DRC. Rawbank has now confirmed its position as a strategic bank for the Congolese mining sector. Rawbank continues to support the financing needs of the Congolese economy In order to meet the needs of players in the mining sector value chain – which contributes 25% of the country’s jobs…

Peak orderbook of $6 billion reached The African Development Bank, rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable) has successfully launched and priced its first Sustainable US dollar-denominated 750 million perpetual subordinated hybrid capital notes. On the 30th of January 2024 the African Development Bank launched a hybrid capital transaction with a coupon of 5.75% until August 2034, with a 10.5 year first call date at the Bank’s discretion. The Bank achieved a top quality and granular orderbook with over 275 investors, of which over 190 were allocated. Investor demand was very strong with a peak orderbook of over USD 6…

The African Export-Import Bank (Afreximbank), is pleased to announce that it has successfully acted as Joint Global Coordinator on the inaugural EUR 500M RegS-only senior unsecured social bond issuance by the Arab Bank for Economic Development in Africa (BADEA) under its newly-established Euro Medium Term Note (EMTN) program listed on the London Stock Exchange. BADEA is a development finance institution established in 1974 by 18 member countries of the League of Arab States (LAS) to provide targeted developmental financing to 44 non-Arab Sub-Saharan African countries, with total assets of USD 5.7bn as of June 2023. BADEA, rated Aa2/AA/AAA (positive/positive/stable) by Moody’s/S&P/JCR,…