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Helios Investment Partners (“Helios”), the largest dedicated private equity fund in Africa with more than $ 3.6 billion in assets under management, today announced a partnership with BİM BİRLEŞİK MAĞAZALAR (“BIM ”), The Turkish leader in discount food distribution, listed on the Istanbul Stock Exchange with a market capitalization of over $ 5 billion. This partnership aims to support the development plan of BIM’s activities in Morocco through the acquisition of 35% of this subsidiary by Helios, valuing the company at more than $ 200 million. Created in 2009, BIM Maroc is the leader in food distribution at discount prices…

BGFIBank is the first bank in the DRC and one of the few in sub-Saharan Africa to obtain AML 30000® certification, an international standard designed to combat money laundering and the financing of terrorism (AML / CFT). BGFIBank RDC was advised for 18 months, for the upgrade process, by the Paris office of the first American law firm Hughes Hubbard & Reed LLP. The certification process took 4 months and ended on December 4, 2020. The assessment was carried out by Maghreb Corporate (member of the IWK Group) and the certification issued by COFICERT (Commission for Financial Certifications); two independent…

For reasons related to the Covid-19 pandemic, the 5th edition of the AFRICAN BUSINESS & SOCIAL RESPONSIBILITY FORUM will take place on Wednesday 19 and Thursday 20 May 2021, in Marrakech, MOROCCO. This new edition, which has the theme “RETHINKING CSR IN AFRICA TO DEFINE ITS REASON TO BE”, will see the participation of many companies but also of institutions such as the African Continental Free Trade Area (AfCFTA), the Arab Bank for Economic Development in Africa (BADEA), etc. Organized by LATITUDE MONDE, CSR Consulting Firm, the AFRICAN BUSINESS & SOCIAL RESPONSIBILITY FORUM has become a force of proposal to…

The diasporas have a new tool to transfer funds without exorbitant cost nor long queues in front of the counters. This is the challenge which the company TapTap Send has set itself to propose an alternative to the already existing solutions. The startup explains that has found a way to send money directly from Europe to beneficiaries’ mobile phones, betting on interoperability. “With our accounts, our customers can send funds directly via MTN or Orange Money which are the most widespread operators in West and Central Africa, particularly in Cameroon with the promo code CMR237”, explains Fatimatou Ousmanou, Head of…

Cairo, 24 November 2020: – African Export-Import Bank (Afreximbank) and the Republic of Rwanda, on 22 November 2020, in Cairo, signed key documents related to the establishment of the Fund for Export-Development in Africa (FEDA), a development-oriented subsidiary of Afreximbank. The Establishment Agreement and Memorandum of Understanding were signed by His Excellency Alfred Kalisa, Ambassador of the Republic of Rwanda in Egypt, and Afreximbank’s President, Professor Benedict Oramah in the presence of His Excellency Mahamadou Labarang, Dean of the African Ambassadors in Cairo and FEDA Chief Executive Officer, Dr. Philip Kamau. The Establishment Agreement creates FEDA while the Headquarters Agreement…

According to the latest Bloomberg ranking, US entrepreneur Elon Musk is now the second richest person on the planet, ahead of Bill Gates. Originally from South Africa, the boss of Tesla, who wins in 5 minutes, what a Swiss worker earns in 12 weeks, or an Ivorian minimum wage in 9.8 years. Taking advantage of Tesla’s meteoric rise in the stock market, Elon Musk’s fortune currently stands at $ 127.9 billion, an increase of $ 100 billion since the start of the year. He is now just ahead of the founder of Microsoft, whose fortune amounts to 127.7 billion dollars.…

The Economic and Monetary Community of Central Africa (CEMAC) announced on Tuesday, November 17 at the end of a round table of donors, that it had raised 3.8 billion euros in funds to finance eleven integration projects. regional, to be implemented between 2021 and 2025 in the six CEMAC countries. “The total amount of funding announced or mobilized (at the end of the roundtable) amounts to around 3.8 billion euros, well beyond the amounts sought. The financing of eight projects out of the eleven has been fully completed, ”declared the permanent secretary of the CEMAC Economic and Financial Reform Program…

EBI SA, the international subsidiary of the pan-African banking group Ecobank, is launching Rapidtransfer International, a digital payment service for the African diaspora between Europe and the 33 African countries where Ecobank operates. In 2018, financial flows from the diaspora to sub-Saharan Africa were $ 46 billion according to World Bank data. That same year, $ 5.596 billion was transferred from the UK to Africa and $ 1.356 billion from France to the African continent. While the UK and France are the two main target countries, Rapidtransfer International is also available in other important markets such as Italy, Spain and…

Following the approval by the Council of Ministers of the Government of the Republic of Guinea, and on behalf of the Guinean government, the Ministers in charge of Mines, Budget and Transport have officially signed with Winning Consortium the Railway Agreement for Evacuation of the Iron Ore of Blocks I and II of Simandou and the Port Agreement for the Evacuation of Iron Ore of Blocks I and II of Simandou. The ceremony was attended by HE Mr. Minister of Mines and Geology, HE Mr. Minister of Transport and HE Mr. Minister of Budget, as well as representatives of WCS.…

The Board of Directors of the African Development Bank approved, Monday 09 November 2020 in Abidjan, the update and extension until December 2022, of the Country Strategy Paper (CSP) of Djibouti for the period 2016 -2020, pending the new five-year development strategy in preparation. The CSP articulates how the Bank intends to support development efforts over a given period in a regional member country (RMC). The strategy is generally formulated in a participatory manner, guided by selectivity and aligned, on the one hand, with the development objectives of the countries embodied in the national development strategies or plans, and on…

Cyber ​​SecureTM offers the first set of integrated cyber capabilities for banks and their businesses Mastercard today announced the launch of Cyber ​​Secure, a set of artificial intelligence (AI) tools, the first of its kind, which enables banks to assess cyber risk across their ecosystem and prevent potential breaches . With these capabilities, banks can identify and prioritize threats and vulnerabilities across their cyber environment. In addition, acquiring banks can help merchants understand their own cyber risk, preventing hundreds of millions of dollars in potential fraud. As the digital economy grows, both in size and complexity, its vulnerable points of…

The Chinese Poly Changda withdraws the contract to build the Rosso bridge and its access viaducts for 47 million euros. It beats a whole host of competitors including the Chinese giants China State Construction Engineering Corporation (CSCEC); Hunan Road and Bridge Construction, China Railway Seventth Group and Stecol Corporation, the Egyptian Arab Contractor, the Portuguese Teixeira Duarte, the Senegalese Rizzani De Eccher / Ecotra / Spic …… Poly Changda won over Nouakchott and Dakar all the more as his bid was by far the best compared to those of 16 other contenders. The Chinese have 30 months to complete their…

Signature of a new partnership between the French Development Agency and the Sahara and Sahel Observatory for the establishment of a regional initiative: “Water stress and climate change in North Africa”. North Africa, with a naturally arid or semi-arid climate, is already suffering the effects of climate change such as exacerbated water stress, declining agricultural yields as well as the increase in frequency and the intensity of extreme events. According to a recent report from the Mediterranean Network of Experts in Environment and Climate Change (MedeCC), the area is experiencing an increase in temperatures at a rate 20% higher than…

African development will create centers of competence First phase of development: e-gov projects, banking & telecom sectors Start of activities since August 2020 Launched in January 2020, Intelcia IT Solutions -ITS- is continuing its development by setting up in Cameroon and Ivory Coast. This deployment comes in response to the Group’s desire to invest in the IT services market in West Africa, but also to the growing need of international groups, particularly Moroccan groups, to have a multi-country outsourcer capable of supporting them in their development. Specialized in the outsourcing of IT solutions, Intelcia IT Solutions aims to establish new…

President of the National Transitional Council (CNT) Henri Konan Bédié is under house arrest, while some opposition leaders and activists have been arrested. The situation remains tense in the country as voices are raised to call for dialogue. According to information from the Chief of Staff of the Executive Secretary, Jan Baptiste Kouamé, since Tuesday, November 3, “the security forces on duty have informed President Bédié that he was under house arrest. The domestic staff were released after checks ”. The same source reports the arrest of several members of the Democratic Party of Côte d’Ivoire (PDCI). Among others, Maurice…

The Board of Directors of the African Development Bank Group and the founding partners of the Africa Investment Forum 2020 (AIF) have approved the postponement of the event to 2021 due to the current Covid-19 pandemic. This annual forum of investors in Africa was initially planned for three days, in November, in the South African metropolis of Johannesburg. The collegial decision is the result of a careful assessment of the impact of Covid-19 and its evolution, the associated risk of a second epidemic wave and its repercussions on worldwide travel, investments as well as the rules. of physical distancing. The…

The United States is holding its breath. After an election given to Democratic candidate Joe Biden by all polls, the reality looks more complicated. The whimsical Donald Trump, chaining the meetings in recent days, has still foiled many forecasts. Thus, Texas, which has voted Republican since 1976, would have remained as deeply red as its oil wells are sunk in its symbolic soil of the military-industrial complex. To win in this federation of 52 states, a candidate must obtain at least 270 of the 538 elected voters at the state level. So far, Joe Biden is ahead of Donald Trump…

On November 2, 2020, in the presence of HE the Ambassador of France to Morocco, Mrs. Hélène Le Gal, the company Casa Transport en Site Aménagé SA and the French Development Agency (AFD) and signed a loan agreement of 1, 1 billion dirhams (100 million euros), associated with a technical assistance grant of 5.5 million dirhams (500,000 euros). This new financial and technical support from AFD to Casa Transport consolidates the quality of their partnership relations and will (i) expand the public transport offer accessible to as many people as possible, (ii) promote the use of a clean and low-carbon…

The Arab Bank for Economic Development in Africa (BADEA) is stepping up its partnership with the International Islamic Trade Finance Corporation (ITFC) to help African countries fight COVID-19 by signing a joint program within the framework of of the Arab African Trade Bridges (AATB) program. This signing took place at the headquarters of the International Islamic Trade Finance Corporation (ITFC) between Ing. Hani Salem Sonbol, Director General of ITFC and Dr. Sidi Ould Tah, Director General of BADEA. BADEA’s contribution will finance key initiatives targeting, among others, the health sector and pharmaceutical products in Africa, especially with the implementation of…

In a publication dated Sunday, November 1, opposition activists announced on social networks that during the opposition’s declaration announcing the failure of the presidential election on October 31, there was a diplomatic ballet at the residence of Konan Bédié, in particular the ambassadors of the United States and France. Faced with contradictory statements on the political situation in Côte d’Ivoire following an uncertain tomorrow’s election, the United States has made known its position to dispel any ambiguity. The United States Embassy denies this denial through its twitter account: “The US ambassador did not meet with Bédié this weekend. The United…

Sudanese Prime Minister Abdalla Hamdok and Economic Commission for Africa (ECA) Executive Secretary Vera Songwe on Friday launched a new publication proposing actions to be taken to stem financial flow leaks illegal before they leave the African coast. The report notes that once these resources leave Africa, recovering them involves a complicated process requiring capacities often scarce in African countries. In addition, the speed and ease of losses beyond national borders easily cross the lines of defense of Africa’s national financial security. This trend, says the report, must be stopped. The report, titled “The Institutional Architecture to Combat Illicit Financial…

Called “HPS Tv”, the New Cameroonian Channel, a subsidiary of HPS International Consulting S.A, is the very first economic and financial information television channel in CEMAC. On October 20, 2020, the firm HPS International Consulting S.A Cameroon obtained the green light from the Ministry of Communication for the launch in Cameroon of its television channel “HPS Tv”. The channel is intended to be an economic and financial information media whose editorial line is communication on the economic performance and growth potential of financial institutions, SMEs and public and private organizations. Designed as a space for reflection, analysis and expertise, it…

The Attijariwafa bank group organized the first edition of the “African Talents” digital conference, on October 26 and 27, 2020, in Casablanca. Chaired by Mr. Mohamed EL KETTANI, Chairman of the Attijariwafa bank group, and initiated by the Group’s Human Capital department, this edition under the theme “The Development of African Talents, a Major Issue for the Transformation of the Continent” aims to create the conditions constructive synergy and momentum among senior talents, business experts and senior executives on an international and continental scale. Honored by the presence of Mr. Mohcine Jazouli, Minister Delegate to the Ministry of Foreign Affairs,…

Since October 1, 2020, the World Food Program (WFP), the world’s leading humanitarian organization in the fight against hunger and the 2020 Nobel Peace Prize winner, has renewed its partnership with Bolloré Transport & Logistics Cameroon. The company will be responsible for most of WFP’s logistics operations for Cameroon, Chad, Central African Republic, Nigeria and Congo Brazzaville. A traditional partner of Bolloré Transport & Logistics Cameroon, WFP has once again entrusted it with the management of customs formalities as well as the handling, storage and delivery activities of goods intended for humanitarian operations. From the Ports of Kribi and Douala,…

The imminent restitution of works of art to Africa, voted in the French National Assembly, is a reminder that the looting of cultural property is not over. The illicit art market is even used to launder money and finance terrorism. On Tuesday October 6, the French National Assembly unanimously approved a bill restoring to Benin and Senegal cultural property brought to France during colonial times as “spoils of war”. Twenty-six pieces from the Béhanzin treasury, looted from the Abomey palace in 1892, will leave the quai Branly museum for Benin, while Senegal will have to recover a saber and its…

Hearing the Minister of Petroleum, Energy and Mines Abdessalam Ould Mohamed Saleh speak on the matter, one might be tempted to believe that gold is within reach in Mauritania. In a speech held at the end of the days of reflection on artisanal and semi-industrial mines, Ould Mohamed Saleh suggested that the quantity of gold sold over the last eight (8) months by the gold miners who work in the localities of Chami and Gleib Ndour located in northern Mauritania… is around five (5) tonnes. The minister says this amount of gold represents a third of the output of an…

The Financial Afrik group is pleased to announce that the online newspaper Mercados Africanos has just joined the group and that from November 1, 2020, the new magazine of the FA group, in Portuguese language, entitled FINANÇAS AFRIK / MERCADOS AFRICANOS will see the day with a deeply and firmly African editorial line focused on positivism, afrocapitalism and the structural transformation of the continent without hiding the obstacles inherent in this dynamic, with analyzes and information coming directly from its own network of journalists and correspondents in Portuguese-speaking African countries, Portugal and Brazil as well. Nilza Faria, Managing Director of…

On October 1, 2020, Moody’s Investors Service reaffirmed the A1 ‘Perspective Stable’ rating awarded to the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group. This rating is based on “significant capital”, “prudent cash investment practices and adequate liquidity management policies” and “very high implicit support from shareholders”. According to Moody’s, “The implementation of a rigorous liquidity policy since November 2018, as part of the transition to corporate debt, supports the strength of the company in terms of liquidity and sources of funding.” Moody’s also said: “Beyond improving the liquidity risk policy, management has…

By Daouda Bakary Koné This visit by the French Minister of Foreign Affairs comes a few days after the implementation of the transition contributes to the strengthening of cooperation between the two countries. The visit of the French foreign minister to Bamako was announced by the French Ambassador to Mali. On the menu, the signing of major partnership agreements, particularly in the areas of drinking water, energy, sanitation and infrastructure, as well as the empowerment of women. It is for the first time since the August 18 coup that overthrew former President Ibrahim Boubacar Keita that a French official will…

Following the approval by its board of directors of the project to set up financial assistance of 350 million euros from Societe Générale and JP Morgan, BOAD through its president, Serge Ekué, signed , Wednesday October 21, 2020, in Vienna, an agreement with OeEB, the development bank of the Republic of Austria, relating to a credit line of 30 million euros for the financing of the commercial sector of the UEMOA space. The Austrian capital was also the seat of another signature, with a framework agreement between the International Fund for the Development of the Organization of Petroleum Exporting Countries,…