Author: Editor

Global Mind Consulting co-organized the panel “Role and Impact of the Media in Economic Development: What Place for Women? At the 3rd Annual WIA Summit in Marrakech. Fully committed to an innovative and enterprising Africa, Global Mind Consulting Gabon co-organized a panel on “Role and Impact of the Media in the Emergence of the Continent” in Marrakech (Morocco) on Thursday 27 June. opening of the 3rd Annual Women In Africa Summit (WIA-17 and 28 June 2019). “The overall drive for economic development in which Africa has embarked is making a profound change in the perception of the continent. More than…

Benin’s Minister of Economy and Finance, Romuald Wadagni, has officially opened the Regional Office for West Africa of the African Trade Insurance Agency (ACA) on Wednesday 03 July 2019 in Cotonou. “This opening is the culmination of a fruitful six-year relationship between the Republic of Benin and the Agency,” the ministry said in a statement. Benin is the first country in West Africa to guarantee its sovereign bonds in currencies using the credit risk insurance of the Agency for Commercial Insurance in Africa, thus attracting the first commercial financing of international banks of Benin. For Minister Romuald Wadagni, “the opening…

United Nations Deputy Secretary-General, Amina J Mohammed, on Sunday pledged the UN’s full support to the African Union as nations begin to earnestly operationalise the landmark African Continental Free Trade Area (AfCFTA) that is expected to unleash the continent’s all-inclusive economic potential. In remarks to the 12thextraordinary session of the African Union on the AfCFTA, Ms. Mohammed said the UN stands ready to work in partnership with African countries as they move to implement the historic and game-changing AfCFTA. “We are already working with 16 African governments to develop national strategies to maximise the opportunities created by this agreement, and…

The ninth edition of the flagship Assessing Regional Integration in Africa report (ARIA IX) was launched on 6 July 2019 during the African Business Forum in Niamey, Niger. It is titled ‘Next Steps for the African Continental Free Trade Area (AfCFTA).’ The report argues that AfCFTA’s success will be measured largely by its ability to actually change lives, reduce poverty and contribute to economic development in Africa. During the launch – which took place in the presence of Niger’s president, the chairperson of the African Union Commission (AUC), heads of UN Agencies and top business persons from across the continent…

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 27 African countries, and two African Central Banks, is pleased to announce the appointment of Opuiyo Oforiokuma as Head of Strategy and Investor Relations. He assumed his position on July 1, 2019. Mr. Oforiokuma, a Nigerian and British national, is an infrastructure specialist with over 30 years of experience in the UK and Europe, the Americas, Asia, and Africa. In a wide-ranging career, he has worked in business strategy, operations and financial management, fundraising, investor and media relations, project development and financing, and mergers and acquisitions. Prior to joining…

The African Export-Import Bank (Afreximbank) today in Niamey announced a grant to the United Nations Economic Commission for Africa (UNECA) to conduct a one-year pilot project to collect data on informal cross-border trade (ICBT) along the Abidjan-Lagos corridor in West Africa. The grant, which is part of Afreximbank’s effort to promote intra-African trade and support the implementation of the African Continental Free Trade Area (AfCFTA), was announced during a ceremony on the sidelines of the AfCFTA Business Forum organised as part of the African Union’s Summit of Heads of State being held to mark the implementation phase of the AfCFT.…

The Stock Exchange of Mauritius (SEM) has announced the inclusion of the African Export-Import Bank (Afreximbank) in the SEM-10 index. An announcement posted on the SEM website on Wednesday listed Afreximbank among the SEM-10 Constituents for the third quarter starting 3 July 2019. Other companies on the list are: MCB Group Limited; IBL Ltd; SBM Holdings Ltd; Grit Real Estate Income Group Limited; ENL Limited (Ordinary A Shares); CIEL Limited; New Mauritius Hotels Limited; Rogers & Company Limited; and Lux Island Resorts Ltd. The index tracks the performance of the 10 largest stocks on the SEM in terms of market capitalization and the…

Cameroon’s Minister of Mines, Industry and Technological Development, Mr. Gabriel Dodo Ndoke has solicited the support of the Subregional Office for Central Africa of the UN Economic Commission for Africa (ECA) in the updating of Cameroon’s Industrial Development Masterplan (PDI, in French) and coordinating the contribution of a league of development partners in the implementation of its next phase. The PDI is seen as a switchboard for Cameroon’s sustainable development, especially with the advent of the African Continental Free Trade Area (AfCFTA), which requires a transformation of production systems in favor of the manufacturing sector from any country that wants…

The Bank is pleased to announce the secondary listing of its benchmark 2024 USD-denominated Eurobond on the Stock Market of Mauritius (SEM), a first for an African Eurobond issuer for SEM, thanks to which, Mauritian investors will be able to access the global Eurobond market through their own stock market. The secondary notes are issued under TDB’s USD 2bn Euro Medium Term Note Program. With a rare negative new issue premium – a remarkable achievement given the current rising interest rate environment – TDB’s senior unsecured 5-year USD 500mn Eurobond issued this past May 16th, was TDB’s lowest-cost-ever global Eurobond.…

SAVE THE DATE 18-24 March 2020 | Addis Ababa, Ethiopia   Fifty-third session of the Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development Committee of Experts | 18 and 20 March 2020 Conference of Ministers | 23 and 24 March 2020   Join Africa’s top ministers and other global leaders as they discuss ways to industrialize the continent in a faster and cleaner way in the digital era. RSVP: Sophia Denekew on denekews.uneca@un.org Theme: “The future of Africa: Industrialization in the digital era”

From June 26 to 28, Chad welcomed 13 delegations from the Arab world, with over 180 entrepreneurs, CEOs, industrialists, and investors. Numerous G2G, B2B and B2B panels, workshops, and meetings fostered dialogue during the three-day business rendezvous at N’Djamena. “A SYNERGY-CREATING FORUM”, SAYS PRESIDENT IDRISS DEBY ITNO The first edition of the Invest in Chad Forum greatly exceeded even the most optimistic expectations. For the first time, the economic and financial elite from the Arab countries, the subregion and the Republic of Chad reunited at N’Djamena. After an fruitful three-day business reunion, with several exchanges, presentations, roundtables, networking and strategic…

The European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa. This was revealed by Ambassador Ranieri Sabatucci, the EU Ambassador to the African Union, in an opening address to a two-day Horn of Africa AfCFTA forum focusing on the pharmaceutical industry. “As was highlighted by the EU Commission President, Juncker, in his state of the union speech in September last year, referring to the AfCFTA, he expressed the wish that the long term perspective is to…

Conscious of a new digital era marked by innovation and hyper-communication due to the internet, the Attijariwafa bank group is constantly innovating to respond to the new uses and expectations of web users. Indeed, the Group has redesigned its institutional interface by appropriating the new digital codes to make it a genuine modern, interactive and innovative digital hub. www.attijariwafabank.com, now reflects Attijariwafa bank’s DNA-embedded innovation, and rein-forces its image as a pan-African banking and fnancial group, frmly focused on the future. Modernizing, harmonizing and offering a new digital experience The Attijariwafa bank group has redesigned its Group corporate digital ecosystem…

International and Pan-African organizations agree to collaborate on initiatives following successful ABEF2019 The prospect of a fully sustainable Blue Economy for Africa gathered significant momentum following the second Africa Blue Economy Forum (ABEF2019) held in Tunis on 25-26 June. Fishing, aquaculture, shipping, ports, energy and finance industries all came under the spotlight at ABEF2019, which drew in Government ministers, business leaders, international investors, academics and environmental organisations from across the globe. The need for direct action to deliver the environmental, economic and social benefits for Africa, and particularly its coastal nations given 90 per cent of Africa’s trade is conducted…

A retreat to size up the stakes of the African Continental Free Trade Area (AfCFTA) for the Republic of Chad and lay the foundation for the country’s strategy to leverage it, ended in Mara, Chad, at the weekend, with experts from the UN Economic Commission for Africa (ECA) allaying fears around the county’s participation in the continental common market. At the retreat, co-organized by Chad’s National AfCFTA Negotiation Committee and ECA’s Subregional Office for Central Africa, bringing together State officials and members of the private sector, the main worries raised were Chad’s readiness to compete with Africa’s industrial giants and…

The Ordinary General Meeting of BGFI Holding Corporation was held on Monday, June 17, 2019 at the headquarters in Libreville, under the chairmanship of Mr. Henri Claude OYIMA. At the opening of the meeting, Mr. OYIMA presented the report of management of the BGFIBank Group’s activities as well as its financial performance for the year ended December 31, 2018. As a result of this general meeting, the BGFIBank Group consolidated its leading position in the sub-region. Despite a contrasting economic environment and an increasingly demanding legal and regulatory environment, the BGFIBank Group has managed to maintain its gains by achieving…

The announcement was made to energy sector stakeholders at a sideline event held during the Africa Energy Forum, which took place in Lisbon, Portugal The African Development Bank (www.AfDB.org) announced a EUR 40 million investment from the European Commission for the Facility for Energy Inclusion (FEI), a new platform for financing small-scale renewables in Africa. The announcement was made to energy sector stakeholders at a sideline event held during the Africa Energy Forum, which took place in Lisbon, Portugal from 11-14 June. The Bank, the European Commission, in partnership with Lion’s Head Global Partners and Fieldstone and the Lusophone Renewable…

By Victor Oladokun, Director of Communication and External Relations at the African Development Bank I’ve always been fascinated with stories. It’s one of the reasons why in high school I jettisoned physics, chemistry, and math in favor of literature and history. The decision has served me well in my media and communication career. I realized early on – to quote the poet Muriel Rukeyser – that “the universe is made up of stories, not atoms.” The truth is, stories are not loaded with hard data but rather with something more powerful: emotional data. That’s why we remember good stories long…

Africa and Russia must harness their immense resources to foster a greater economic future for their people, Dimitri Medvedev, Chairman of the Government of the Russian Federation, said yesterday in Moscow. Mr. Medvedev, who was declaring open the Annual General Meeting of Shareholders of the African Export-Import Bank (Afreximbank), held as part of the Bank’s 2019 Annual Meetings, noted that Africa and Russia accounted for half the world’s resources. He said that although Russia’s presence in Africa had weakened in the 1990’s, the country had since then done a great deal of groundwork on joint projects in geology and mining,…

Jobberman Nigeria announces a new appointment of leadership. Mrs. Hilda Kabushenga Kragha has joined the business on 10th June 2019, appointed as the company’s Chief Executive Officer, responsible for the growth and operations for the company. Mrs. Hilda Kabushenga Kragha Mrs. Kragha was previously an Engagement Manager at McKinsey & Company, advising blue chip clients on strategy, human capital, and organisational transformation projects. Jobberman Nigeria is the country’s No.1 jobs and careers platform, bringing the best employers and candidates together and improving productivity in the country. Jobberman has over 2.5 million candidates, matching them with more than 100,000 employers in their…

The aim of the Parque Agro-industrial de Moamba (PAM) agricultural project is to build reliable and resilient food production capacity in Mozambique AGCO and AT Capital S.A have signed a memorandum of understanding to collaborate and work together towards the implementation of the Parque Agro-industrial de Moamba (PAM) Agri-Industry Park in Maputo, Mozambique. The announcement was made at the sidelines the 12th U.S. – Africa Business Summit “Advancing a Resilient and Sustainable U.S.-Africa Partnership” in Maputo. The aim of the PAM agricultural project is to build reliable and resilient food production capacity in Mozambique, for domestic demand and export. Estimated…

The panel session ‘Mining Industry: A Sustainable Approach to Field Development’ was held in Moscow during the open Russia–Africa Economic Conference, part of the Afreximbank Annual Meetings with the support of the Roscongress Foundation and Russian Export Center. One of the key focal points of the session was Russian and African cooperation in the development of the mining industry. The discussion was moderated by IHS Markit Russia’s Director for Consulting Maksim Nechaev and participants included: President and General Director of Wassoul’Or and Chairman of Petroma Inc Canada Aliou Diallo; ALROSA Vice President Vladimir Marchenko; General Director of Vi Holding, Doctor…

The Bank’s support to the Comoros Energy Sector Support Project is in line with the priorities set out in the Comoros Country Strategy Paper The Deputy Director General of the Bank for East Africa, Nwabufo Nnenna, and the Comoros Minister of Finance and Budget, Saïd-Ali-Saïd Chayhane, signed on Thursday, an additional financing agreement of 8, 63 million euros on the sidelines of the Bank’s Annual Meetings in Malabo, Equatorial Guinea. With this funding from the Bank, the Government of Comoros will be able to continue its energy sector reforms, initiated in 2014, under the Energy Sector Support Project (PASEC). “We…

Emerging Capital Partners (ECP) announces an investment to acquire a substantial stake in Mauritius-based Inter Africa Transport Forex (IATF). IATF operates a financial technology platform that enables its customers – transport companies, especially cross-border ones – to better procure, manage and track their costs. IATF’s online platform centralizes payments for diesel, cash pay-outs, road tolls, border payments, parking, insurance, mechanical payments and other electronic payments making planning of journeys, cost control and fleet management simpler and more efficient. IATF is able to substantially reduce costs for its customers based on its purchasing scale and through improved cost control by providing…

TDB racks up four nominations and two awards at the 2019 African Bankers Awards The race for the 2019 African Bankers Awards came to an end on the night of the 11th of June in Malabo, Equatorial Guinea, at a high profile gala dinner of bankers and financial sector stakeholders. TDB President and Chief Executive Admassu Tadesse brings home the ‘African Banker of the Year’ award, one of the top two most prestigious of the competition. The Bank also jointly received with Crédit Agricole the 2019 ‘Infrastructure Deal of the Year’, for its co-financing of the ground-breaking Coral South Floating Liquified…

The African Export-Import Bank (Afreximbank) yesterday in Malabo received the award for the African Bank of the Year at the African Banker Awards 2019 ceremony held on the sidelines of the Annual Meetings of the African Development Bank. Amr Kamel, Afreximbank’s Executive Vice President for Business Development and Corporate Banking received the award on behalf of the Bank. The award to Afreximbank was one of two big ones that went to development finance institutions as Admassu Tadesse, President of Trade Development Bank, was also named African Banker of the Year. The organisers, in explaining the award to Afreximbank, said that, in the past 18…

Congo Business Network is planning an online session on June 15, 2019 on Cisco WebEx from 5 pm to 7 pm Kinshasa time. The theme of this discussion is: How to find financing for drinking water, energy or health projects in the DRC? The objective of this session is to allow Pako Tshiamala to educate and inform participants on what they need to do to find funding for drinking water, energy or health projects from $250,000 to $1,000,000 in the Democratic Republic of Congo from Grands Défis Canada, a Canadian investment fund. According to the program, Pako Tshiamala, Regional Consultant…

Your Excellency, President OBIANG NGUEMA MBASAGO of Equatorial Guinea – our host President; Your Excellencies Heads of State and Governments (names), Governors of the African Development Bank, honorable Ministers, Ambassadors and Heads of Diplomatic Missions, members of the Board of Directors, senior management and staff of the African Development Bank, partners, members of the press, distinguished guests, ladies and gentlemen. I welcome you to the Annual Meetings of the African Development Bank Group. This annual event is always a unique opportunity to share with you the Bank’s perspectives on the state of Africa’s economy, provide updates on the Bank’s work and…

10 June 2019 – Global broking business Brokerslink has announced the appointment of Tiago Mora as the new Regional Manager for Middle East and Africa. Tiago Mora is MDS Re Director and has been with MDS Group for 12 years. He has spent a number of those years developing the Group’s operations in Africa and running the Angolan business. He replaces Ana Cristina Borges who is relinquishing her responsibilities with Brokerslink to become Board Director of MDS Portugal. In the role of Regional Manager, Tiago will focus on the development and expansion of Brokerslink’s presence across the region. He will…

Addis Ababa, Ethiopia, 10 June 2019 (ECA) – The regional forum, taking place on 24 and 25 June in Dakar, Senegal will focus on issues related to the implementation of the African Continental Free Trade Area (AfCFTA) and its impact on the regions of West and Central Africa. The forum, which is jointly organized by the Economic Commission for Africa (ECA), the Senegalese Government, the African Union Commission and the European Union, will be a space for regional and multi-stakeholder dialogue on issues related to the implementation of the AfCFTA in the French-speaking Economic Community of West African States (ECOWAS) and…