Author: Editor

The economic and financial press provides financial information at the base of the anticipation decisions of economic agents. This is the final conclusion to remember from the Economic and Financial Press Forum which just took place on March 25 and 26, 2021 in Abidjan. Organized by Michel Russel Lohore, Journalist, Member of the Club de la Presse de Lille (France), Winner of the 2019 National Award of Excellence for the Development of Communication in Côte d’Ivoire, this mass focused on the role of the information in the structuring of an economy or a market. The law is the same for…

Bolloré Ports has placed an order for two mobile port cranes which will strengthen the handling capacities of Tincan Island Container Terminal Limited (TICT) in Lagos. They will enable the container terminal to support the growth in volumes of Nigeria, the leading country in the African economy. TICT’s new mobile cranes, Konecranes Gottwald Model 7, will be equipped with a new generation power supply system that will significantly reduce CO2 emissions as well as energy consumption. “The mobile cranes ordered for TICT under its investment program are helping to provide Nigeria with a quality port platform. As soon as they…

To be continued on Tuesday March 30 from 10am GMT on the financialafrik.com, YouTube and Facebook websites. On the occasion of the release of his book “The Bank Explained to All – Focus on Africa”, published by RB Edition, Mamadou Sene engages in the game of questions and answers with Adama Wade, publication director of Financial Afrik. Member of the board of directors of CBAO Groupe Attijariwafa bank, former Managing Director of Société Financière d’Équipement au Senegal, Bank of Africa-Niger, Bank of Africa-Mali and Orabank Guinea, in his book Mr. Mamadou Sene reviews key concepts of the banking industry in…

In an effort to help member states gain access to a facility that will boost their short-term liquidity and boost longer-term growth, the Economic Commission for Africa (ECA) has partnered with PIMCO, a company asset management, to set up a Liquidity and Sustainability Facility (LSF) that would reduce governments’ borrowing costs by increasing demand for their sovereign bonds. This will be achieved by allowing existing sovereign bondholders to deposit these instruments as collateral for low-interest loans funded in part by a new issuance of Special Drawing Rights (SDRs). The resources mobilized through such repurchase agreements will then be used to…

Once again, SUNU Bank takes a new step in Togo with the introduction of a new feature in its product: WhatsApp Banking. This is the instant credit simulation allowing you to know your borrowing capacity for online credit. A year ago, SUNU Bank revolutionized the Togolese banking market with the launch of WhatsApp Banking. Thanks to this service, you no longer need to go to a branch for banking operations. The customer has direct access from his phone via the WhatsApp application to several features such as checking their bank account balance, the history of the last ten transactions on…

The government of Togo is also committed to unblocking its capital arrears. The pan-African housing development finance institution Shelter-Afrique has received US $ 2 million (€ 1,724,397.54) from the government of Mali, being the full settlement of its capital subscription arrears. Mali becomes the fifth shareholder to fully settle Shelter-Afrique’s 2013 and 2017 calls for funds after Zimbabwe, Lesotho, Morocco and Namibia. The move comes days after the Togolese government pledged to pay for its capital subscription, which currently stands at US $ 103,000. In addition, the government of Togo is in talks with Shelter-Afrique to increase its capital subscription…

Kinshasa, Democratic Republic of Congo, March 19, 2021. BGFIBank RDC formally denies the erroneous information disseminated yesterday and today on social networks and taken up by some online media. Contrary to what has been claimed by some bloggers and online media, without prior verification, no BGFIBank RDC executive has been guilty or complicit in a money laundering operation. BGFIBank RDC recalls that in December 2020 it obtained the AML 30000 certification, a prestigious certification designed to combat money laundering and the financing of terrorism and that under this new dynamic the Bank maintains a privileged relationship with CENAREF and all…

African countries are looking for inventive ways to close the annual development finance gap of US $ 92.8 billion to implement the 2030 Agenda for Sustainable Development, achieve Agenda 2063 and update the Accord. Paris as well as responding to the COVID-19 crisis while addressing increasing levels of inequality. This is the special message sent this Thursday to delegates attending the expert meeting of the 53rd Conference of Ministers (COM), in Addis Ababa by Nassim Oulmane, Head of the Green and Blue Economy Section, of the Division of Technology, Climate Change and Natural Resource Management, ECA. Mr. Oulmane, who presented…

Until then director of Citi in Senegal, Pape Sall was promoted to head of the West and Central Africa (WCA) division, subject to regulatory approval. As head of WCA, Pape will lead the overall franchise, including driving Citi’s business and client strategy. The Senegalese banker will also support the transformation of the bank by ensuring that the appropriate control environment is in place in WCA. Papa will report to Akin Dawodu, head of the sub-Saharan Africa division. Pape Sall has over two decades of banking experience and has held various positions at Citi over the past 13 years, including Country…

Depuis le 1er mars, les foyers ivoiriens et sénégalais équipés d’un kit solaire de Baobab+ peuvent acquérir un smartphone en bénéficiant d’une facilité de paiement. Une initiative pionnière permise grâce au partenariat entre cette entreprise qui accompagne les foyers et les micro-entrepreneurs dans leur autonomie énergétique et leur digitalisation et Samsung, le géant coréen de l’électronique. C’est une nouvelle étape dans la volonté de Baobab+ d’élargir l’accès des Africains aux services numériques. Après la vente de kits solaires selon le système du « Pay as you go » (paiement progressif) au Sénégal, en Côte d’Ivoire, au Mali et à Madagascar depuis 2015…

The Economic Commission for Africa on Wednesday urges African countries to adopt policy measures that encourage green investments aimed at increasing productivity to facilitate a sustainable recovery from the coronavirus crisis and achieve sustainable industrialization. This is what Hopestone Kayiska Chavula, acting as the Section of Macroeconomic Analysis, Division of Macroeconomics and Governance, ECA, said at the start of the 39th meeting of the Committee of Experts of the ECA. ECA, of the Conference of African Ministers of Finance, Planning and Economic Development. Mr Chavula, in his report focusing on recent economic and social developments in Africa, argues that countries…

The State of Cameroon is preparing to allocate 50 billion, over five years, to the benefit of national cocoa and coffee producers. Administrator of the Coffee and Cocoa Sectors Development Fund (FODECC), Samuel Donatien Nengue unveils the main features of this new financing vehicle. What is the origin of the subsidies that will be allocated to producers? It should be noted from the outset that the Fund’s resources come from the export levy on cocoa and coffee, products resulting from fines resulting from the export of poor quality products, various contributions, donations and bequests of any kind. . These resources…

The African Development Bank Group is pleased to announce the appointment of Ms. Atsuko TODA as Acting Vice President, responsible for Agriculture and Human and Social Development, effective March 16, 2021. A Japanese national, Atsuko is a seasoned professional who has over 20 years of experience serving international institutions. She joined the Bank in December 2016 as Director of the Agricultural Finance and Rural Development Department. In her current role, she oversees the Bank’s investments in private sector agribusiness enterprises, the integration of disaster risk financing, and the development of special agribusiness transformation zones on the African continent. Atsuko brings…

On the occasion of International Women’s Rights Day, the employees of Bolloré Transport & Logistics made a donation, on March 16, 2021, to the association of disabled women of Leboutou (AFHL) in Dabou, 50 kilometers from Abidjan , several equipment intended to facilitate the production of attiéké, an income-generating activity. This cooperative brings together nearly a hundred women aged between 21 and 60 years old and whose disabled situation hinders the speed of the process of transforming the raw material into the finished product, with a view to its commercialization on the local market. Composed of cassava grinders, creek presses,…

(1dollar USD = 549.93 CFA Franc). The profit of the Ivorian Cable Company (Sicable CI, code CABC), a member of the Prysmian Group, world leader in electric cables, increased sharply by FCFA 528.706 million (€ 793,059) at the end of the 2020 financial year compared to the previous year, announced the leaders of this Abidjan-based company. This profit stood at 1.166 billion FCFA against 637.951 million FCFA as of December 31, 2019, an increase of 82.87%. At the BRVM, Sicable CI (CABC), down -3.48% on the March 15 session, is on an annual uptrend of 38%. Regarding the turnover of…

The five member countries of the G5 Sahel – Burkina Faso, Mali, Mauritania, Niger and Chad – call for a deep restructuring of their debt in order to allow them to continue to meet the urgent and legitimate expectations of their populations in terms of security and development . In a declaration adopted after their 7th Summit organized on February 15 and 16, 2021 in N’Djamena, the capital of Chad, the five Sahelian countries believe that the moratorium on the debt of the poorest countries decided in April 2020 by the G20 does not is not enough. “The heads of…

Abidjan, Ivory Coast, March 15, 2021 – The African Development Bank Group (“AfDB”) issued a sanction decision on February 2, 2021 against Mitsubishi Heavy Industries, Ltd. (“MHI”). This decision comes within the framework of the 1300 MW Abu Qir steam power plant project (hereinafter the “project”) in Egypt. On January 15, 2008, the Bank entered into a loan agreement with the Arab Republic of Egypt for the partial financing of the project, the overall objective of which was to improve the supply of electric power in Egypt. MHI, as a member of a consortium, submitted an offer and was awarded…

In this time of pandemic, the women of sub-Saharan Africa have shown extraordinary resilience more than ever. In the face of adversity, the strength and intelligence of African women have enabled the continent to hold out, proving once again that investing in them is essential, that women’s economic empowerment is the key to prosperity for all. This question will be at the heart of the webinar that the World Bank and AllAfrica Global Media, world leader in the distribution of information from Africa, are co-organizing on Monday, March 8, 2021 on the theme: “COVID-19, Revealer of the Incredible Resilience of…

The President of Niger has shown exceptional leadership and respect for democracy in the face of an unprecedented array of challenges The 2020 Ibrahim Prize for Excellent Leadership in Africa has been awarded to the President of Niger, Mahamadou Issoufou. The Mo Ibrahim Foundation announced the award today, following a meeting of its independent Award Committee. President Issoufou served two presidential terms, from 2011 to 2020. He is the sixth recipient of the Ibrahim Prize, which rewards and celebrates excellent African leadership. The Ibrahim Prize aims to recognize outstanding leaders who, during their tenure, have developed their country and strengthened…

Converted into the private sector at the head of his company Parnasse International, Dominique Strauss-Kahn “DSK” has just completed a mission in Benin. In the economic capital Cotonou, the former CEO of the International Monetary Fund (IMF) from 2007 to 2011 attempted to obtain a mandate from the Beninese authorities for advice on debt management and financial governance. He notably spoke with Finance Minister Romuald Wadagni. DSK took advantage of this visit to meet with French Ambassador Marc Vizy. Benin is the umpteenth African country visited in recent months. On the strength of his notoriety and his address book, the…

The Mauritanian Electricity Company (Somelec) expanded its organization chart on February 25, 2021. It has six central departments, thus increasing the number of director positions from eleven to nineteen, apart from director positions. general and deputy general manager. The number of advisers’ posts increased from six to eleven, and those in charge of missions from six to ten. The split of the company into two independent entities (electricity production and transmission company and electricity distribution and marketing company) scheduled for September 2021 would be at the origin of this new organization chart. The “revolution” gives pride of place to a…

Accused of being at the base of the violent demonstrations of recent days after the proclamation of the results of the presidential election by the Independent National Electoral Commission (CENI), the leader of the opposition party Moden Fa Lumana, Hama Amadou (ally of Mahamane Ousmane), was heard by a judge, and was the subject this Monday, March 1, of a committal for the prison of Filingue located north-west of Niamey, about 183 km from the capital. For his part, retired army general Tchianga Boureima has been transferred to Ouallam prison. The presidential candidate in the first round, Djibrilla Baré, was…

SouthBridge Investments (SBI) and New African Capital Partners (NACP) are proud to announce the launch of their joint venture: SBNA. SBNA will act as a “permanent capital fund” with the mission of attracting investors with a long-term vision for Africa. The joint venture wants to invest in the future of the continent by mobilizing “long capital” and by focusing in particular on FinTech, financial sector integration, microfinance and mesofinance. Charles Kié, CEO and co-founder of New African Capital Partners, will preside over the destinies of SBNA. During his professional career, he held senior positions at Citibank, Banque Atlantique, Ecobank, AFC…

The African Development Bank, in partnership with the African Center for Training and Administrative Research for Development (CAFRAD), organized on Thursday February 25, a virtual seminar to present the new strategy for modernizing the said center. Under the theme “Promoting good governance of regional public bodies: the example of CAFRAD”, the meeting brought together representatives of the Moroccan authorities, the private sector and national partner institutions. In the context of the Covid-19 pandemic, the event provided an opportunity to discuss the new challenges facing regional public bodies in Africa. The discussions focused on the presentation of CAFRAD’s new modernization strategy,…

The Guinea Investment Forum started on February 24, 2021 under the effective chairmanship of Professor Alpha Condé, President of the Republic of Guinea. Organized by the Agency for the Promotion of Public and Private Investments, the meeting brings together potential investors, the State through its various branches, private actors and development institutions. This business forum materializes the vision of His Excellency the President of the Republic of Guinea, Professor Alpha Condé and his Government, to transform Guinea’s tremendous potential into an economic, sustainable and inclusive reality. We will come back to the highlights. President Alpha Condé inaugurates the Guinea Investment…

Vista Group is pleased to announce that the Central Bank of The Gambia has formally approved the rebranding of First International Bank (Gambia) Limited to Vista Bank (Gambia) Limited. A formal launch of the new Brand shall be announced in due course. Simon Tiemtore, Chairman of Vista Group said: “This rebranding is a milestone in Vista’s declared intent of establishing a world class pan-African financial institution promoting financial inclusion and contributing to socio-economic development in The Gambia. It further expands Vista Bank’s existing operations in Guinea and Sierra Leone, which we will be augmenting through our impending purchase of La…

Emerging Capital Partners (ECP), a pan-African leader in private equity, announced on February 3, 2021 that it had crossed the threshold of 5% of the capital of the Tunisian group Société d’Articles Hygiéniques (SAH), better known under the name of Lilas , Tunisian champion of hygiene and cleaning products. This operation reflects the group’s willingness to support the economic champions of North Africa, who for many are showing strong resilience in the face of the Covid-19 crisis. The partnership between ECP and SAH Lilas began in 2008, when the company created by Jalila Mezni and Mounir El Jaiez opened its…

Banker Mamadou Sène announces the publication of his book “The Bank Explained to All – Focus on Africa” ​​on March 4, 2021. The preface is written by Mohamed EL Kettani, Chairman and CEO of Attijariwafa bank. The book is edited by RB Edition of the Revue Banque group. Written in the form of questions and answers, this book answers the questions that everyone might have about banking. The two hundred and a few questions which constitute its framework are of all kinds and relate to its definition, its history, its different forms, its functioning and its operations. The topics covered…

Following a successful digital revolution, Estonia – a small Baltic state considered today as one of the most technologically advanced countries in the world – exports its digital know-how abroad and seeks to strengthen its cooperation with various actors, including Africa. What are the ingredients of its success? How could the continent benefit from this collaboration? Mari Hanikat, CEO of Garage 48, sheds some light on this issue for Kapital Afrik. By Kapital Afrik Financial Afrik: Estonia is considered as the most technologically advanced society in Europe. Can you briefly explain how Estonia’s digital revolution occurred? Mari Hanikat: After…

Terminal 3 of MPS (Meridian Port Services Limited) in Ghana is the backbone of the maritime service between Africa and South America. The container terminal at the port of Tema enables the CMA CGM and MSC ship owners to connect Africa with the South American market. MSC benefits from a berthing window on the MPS docks for its connections between Africa and South America. Meanwhile, CMA CGM recently launched the “SAMWAF” (South America – West Africa) service that makes the port of Tema a leading hub for containers coming from or going to Ghana and countries in the sub-region. These…