Author: Editor

Written by Eric MANIABLE and Raissa FOTIA SANTSA. In the previous episode, our actuaries had built surrender rate tables based on the seniority of the contracts. The objective was to be able to estimate the volume of redemptions that should be observed in the year to better manage cash. However, the DAF has read somewhere that there are two types of buybacks. So-called structural buy-backs, which represent the “natural” part of insured persons who are in need of cash. These repurchases are reputed to be independent of the evolution of the financial markets and the policy of revaluation of the…

The CEO of the Ethiopian Airlines group deeply regrets the fatal accident of flight 302 of March 10, on a planned flight from Addis Ababa to Nairobi. The group GM who is on the scene of the accident at the moment is sad to confirm that there are no survivors. He expresses his deepest sympathies and condolences to the families and loved ones of the passengers and crew members who lost their lives in this tragic accident. Ethiopian Airlines will post additional information as soon as it becomes available. Updated information will also be available on the Ethiopian Airlines website…

ACCRA, Ghana. 18 March marked the start of structured dialogue around Nationally Determined Contributions (NDCs) at Africa Climate Week hosted by the Ghana Government. Delegates from all over the world gathered in Accra to, “discuss climate change actions and to strengthen stakeholders’ engagement in key sectors including energy, agriculture and human settlements. This very important event highlights Africa’s commitment to the implementation of NDCs in the lead up to the United Nations Summit for Climate in New York later in the year. The United Cities and Local Governments of Africa’s (UCLG Africa) Climate Task Force are playing a critical role…

A few weeks before the oil summit in Malabo (APPO Cape VII) , Ann Norman, Africa Managing Director of Pioneer Energy, gives us her thoughts on the business environment in Africa and the outlook for the oil and gas sector.

The information went around Mauritanian social networks. President Mohamed Abdel Aziz would hold a $ 2 billion (720 billion Ouguiyas) credited account in Dubai. The US Treasury would have “frozen” this account housed in a “Mauritanian fund”, we curse without any other form of precision. Several Mauritanian netizens, warmed to white by what gathered to a big scoop of precampagne, abundantly relayed the information. Some have sent inflamed pleadings begging the Emir Mohammed bin Rashid to return to the Mauritanian people his money. According to our sources, the Mauritanian president will file a complaint against Al-Quds Al-Arabi based in London…

Immediately following the tragic accident, Kenya’s Transport Minister James Macharia and Kenya Airport Authority (KAA) General Manager Jonny Andersen held a press conference on March 10, 2019. The 149 passengers and eight crew members would be flying Ethiopian Airlines, ET302, which ensured, Sunday, March 10, the Addis Abeba- Nairobi, Kenya, all died. There were 33 nationalities on board. In all, 32 Kenyans, 18 Canadians, 9 Ethiopians, 8 Chinese, 8 Italians, 8 Americans, 7 French, 7 British, 6 Egyptians, 5 Dutch, 4 United Nations (UN) staff, 4 Indians, 3 Russians, 2 Morocans, 2 Israelis, 1 Belgian, 1 Ugandan, 1 Yemenite, 1…

Founder and CEO of Janngo, a term that means “future” in Fulani, this 32-year-old Senegalese entrepreneur with pegs in her body. With the provision of digital platforms serving African startups and SMEs, she is fulfilling her dream of investing and undertaking in pan-African digital champions with proven business models and inclusive social impact. “By developing solutions to improve logistics for export, I hope to propel Africa, which currently accounts for only 3% of trade in global trade,” she said between two planes in Paris and Abidjan where she has her offices. 1 million euros Its first round of € 1…

In the secular conservatism of the Arab-Muslim world, Tunisia has broken an old taboo. Everything went in August 2017 when Beji 90 year old Caid Sebsi, president of the country’s Maghreb and Mashrek lab, has set up a commission for individual freedoms and equality. The commission’s recommendations resulted in a bill defended by the executive. This project stipulates that the general rule will be equality, the option for the Islamic heritage to be declarative before the notary. Caution is therefore required in lawmakers who know he has to face social and ideological weightings that do not only concern the party…

In a new report on Moroccan banks, an improved version of the two previous ratings of 2013 and 2016, the rating agency Fitch Ratings points to a low equity of the seven major banks of the kingdom (among others, Attijariwafa bank and BMCE Bank Of Africa). Another conclusion noted is the alarming proportion of outstanding debts. The ratio of “bad debts” on outstanding credit was 9.8% at the end of the first half, “a much higher level than that of developed markets,” says the US agency. With the entry into force of IFRS 9, banks were obliged to increase provisions…

The President of Equatorial Guinea, the Secretary General of OPEC and 20 African Ministers of Oil and Gas will host Africa’s largest gathering in the energy sector. The Cape VII congress and exhibition of the African Organization of Petroleum Producers, to be held from April 2 to 5 in Malabo, is expected to bring together the top officials of the oil and gas sector, the main ministers of energy of the continent and international political leaders. President Obiang Nguema Mbasogo of Equatorial Guinea and Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, will speak at the seventh summit of…

Under the High Patronage of His Majesty King Mohammed VI, may God assist, the 6th edition of the Africa Development International Forum, organized by the Africa Development Club of the Attijariwafa bank group, will be chaired by His Excellency Mr. President, Retired Brigadier, Mr. Julius Maada Bio, from the Republic of Sierra Leone. Accompanied by a strong delegation, the President of Sierra Leone, Brigadier Retirement, Julius Maada Bio, will chair the launch of this edition; centered on: • economic advocacy with regard to intra-African integration • the networking of countries and investors in the Investment Market; and • connecting more…

Experts from the African Union who will report to the heads of state. By Rodrigue Fénélon Massala, special envoy to Yaoundé. The 3rd Specialized African Union Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration is being held in Yaounde from 4 to 8 March under the theme “Public Policies for Productive Transformation”. The participants address various themes including productive transformation in Africa, the role of regional integration and the private sector, transformative leadership and Africa’s productive transformation. The meeting takes place in a context where subregional and regional harmonization is a problem in some parts of the continent,…

Allianz Africa formalizes its new strategic skills cluster in Africa, according to a statement from the group to Financial afrik. After Casablanca and Nairobi, it is now in the Ivorian economic capital that Allianz Africa concentrates its operational teams to pilot its transformation and improve the service delivered to its customers and partners. For the past three years, the group has identified Africa as a major growth driver and has made significant investments to expand its business in high-growth countries. In order to support its ambition, Allianz has initiated an operational transformation with the aim of bringing the best of…

AUDA-NEPAD hosts the 3rd Africa CSA Alliance Forum Following the success of the first two Africa Climate Smart Agriculture (CSA) Alliance Forums in 2015 and 2016, AUDA-NEPAD and the African Union Commission, with support from GIZ and Norad, are convening the 3rd Africa CSA Alliance Forum from 27-28 March 2019 in Dakar, Senegal. Under the theme “Towards Vision 25×25 – Taking stock of CSA in Africa” the Forum aims to review progress made towards Vision 25×251, and share lessons and insights on how to drive sustained adoption of CSA in the African context. The Forum will also discuss how CSA…

 The African Export-Import Bank (Afreximbank) has made the case for factoring as a viable and sustainable solution to address the challenge of access to financing which is hindering the growth of Africa’s small and medium-scale enterprises (SMEs). Kanayo Awani, Managing Director of the Intra-African Trade Initiative at Afreximbank, said on 12 March during a factoring promotion conference held in Gaborone that factoring, a form of trade finance provided a solution to address the SME financing gap and would help innovative SMEs to grow and support Africa’s structural transformation and trade development. Ms. Awani, who noted that access to appropriate and affordable…

By Pierre Delval, chronicler. On April 15, 2018, in issue 49 of Financial Afrik, I devoted a full column on the criminological deciphering of cryptocurrency. I cautioned, in particular, the unwary who would be tempted to minimize the weight of potentially tortious transactions in this financial market of a new kind. And, without taking too much risk, I felt that this lark mirror would become, sooner or later, a target of choice for criminal organizations. While I was writing this analysis, criticized by the Bitcoin, Litecoin, Peercoin, Namecoin and other cryptodevises aficionados, a character, as he knows how to…

NASDAQ and the Regional Stock Exchange (BRVM) have signed an agreement for the provision of market surveillance technology to the BRVM. The BRVM will implement NASDAQ technology to monitor cross-market and multi-asset trading activities. “We are excited to begin this new collaboration with NASDAQ using its world-leading SMARTS market surveillance technology,” said Félix Edoh Kossi AMENOUNVE, Managing Director of the BRVM. “Over the past five (5) years, we have taken a number of aggressive steps to reinvigorate our market and increase investment opportunities in West African member states. The BRVM is seeking to implement its growth strategy for the period…

The democratic horizon is moving away while the time of the retreats of the civil and political liberties settles everywhere in Africa. Who does not see this grave danger that is so close! By Adama Gaye * It’s just a long nightmare. Like porcelain under the feet of an elephant, the African democratic dream is reduced to a heap of scattered debris. It is hard to believe that this was, long ago, the main justification for renewed hope around the African continent. When it’s gone, there’s nothing left or nothing left. Everywhere is desolation. Democratization, under siege, is being pushed…

The Regional Stock Exchange (BRVM) announces the release (Go Live), in real time, on the Refinitiv platform of Thomson Reuters, Monday, March 4, 2019, market information on all its listed lines (stocks and bonds) and as his clues. This is a significant step forward for the regional financial market must contribute to improving the dissemination of market trends. The initiative of the BRVM is part of the reinforcement of the dissemination of stock market information with a view to giving easier access to international and regional investors. Thomson Reuters is one of the largest data providers and infrastructure in the…

Leader of the telecom sector in Senegal, Sonatel embodies the concept of “National and Regional Champion” by its contribution to the economy, its social impact and its eminent role in the development of the new economy. This makes Sékou Dramé, Chief Executive Officer, say that “Sonatel remains a major player in all its countries of presence”. Interview. In concrete terms, what is the company’s contribution to the Senegalese economy in terms of jobs, taxes and dividends? Sonatel continues to remain a major player in all its countries of presence, and particularly in Senegal. In 2017, the group contributed more than…

Bolloré Transport & Logistics signed with CLS Logistics, its partner for over 11 years, a Memorandum of Understanding to create a joint-venture. The signing took place in Addis Abeba in the presence of Jean-Yves Le Drian, Minister for Europe and Foreign Affairs. Already supplying transit and logistics services in Ethiopia, Bolloré Transport & Logistics and CLS aim to offer their customers dedicated services meeting the highest international standards. More broadly, they aim to improve the supply chain of strategic sectors in the country such as textiles, coffee, industrial projects and infrastructure following the partial opening of the logistics sector in Ethiopia.…

Launched in February 2017, Outlierz Ventures, the Moroccan-based venture capital fund dedicated to African technology startups, announces the first five investments on the African continent. The fund headed by Kenza Lahlou will present its first assessment on March 21 in Casablanca, two years after its launch. Outlierz Ventures is the first private venture capital fund from French-speaking Africa with a pan-African approach. The fund focuses primarily on the most dynamic African markets in terms of technology and innovation, namely Nigeria, Kenya, South Africa, Egypt and Morocco, with the ambition of investing equally in the nuggets of the most mature French-speaking…

The US investor will announce its decision during the first half of 2019 on the Alen natural gas production project even if the final decision to invest will depend on the execution of commercial agreements between the two parties. The fate of the Alen natural gas production and exploitation project in Equatorial Guinea will soon be decided, with the decision of the US multinational to be known over the next three months. This is the quintessence of an announcement made by the company Noble Energy which operates the license located offshore and whose production is scheduled for 2021. According to…

The African Development Bank and Sophia University in Japan, have signed a Memorandum of Understanding to promote capacity development within the two institutions for their mutual benefit and the entire African continent. The agreement was signed Friday at the Bank’s Abidjan headquarters. “It is our sincere wish that this day will be an opening of bright future possibilities for all of us. We strongly hope our coming together today is not for a mere signing of an agreement, but a step towards shaping the future world,” said Professor Terumichi Yoshiaki President of the university, who signed for his institution. Sophia…

While the Democratic Republic of Congo (DRC) is experiencing a historic alternation, the price of cobalt collapses on international markets. Owing to 60% of the reserves of this mineral used for the manufacture of cathodes, Kinshasa declared it “strategic”. The market will remind the Congolese authorities that it is he who will always have the last word. Thus, after reaching the record high of $ 95,000 per tonne at the end of the first quarter of 2018, the colbat now stands at $ 33,000 on the London Metals Exchange (LME). Blame it on an offer disconnected from market prices, a…

On the occasion of the Women’s Day, Jeanne SISSOKO-ZEZE, Coach in Personal Branding and General Director of Reflet Consulting, joins the editorial staff of Financial Afrik to discuss the big topic of the day. Below is his editorial (to be found also in the monthly FA number 58 download) addressed to all those who dream of reconciling work and family life. To be oneself simply! Source of life, pillar of the family, foundation of society; the extent of our role and responsibility often makes us forget that we also have the right to live for ourselves. In our modern African…

In 2018, Poland reached a peak in economic recovery with a GDP growth of 5.1%, the highest level of economic expansion since 2011. Despite this positive macroeconomic environment, payment delays appear to be standard practice on the Polish market. Nearly 99% of the Polish companies surveyed by Coface experience payment delays. Only one out of ten companies reports receiving payments on time.

H.E. Obiang Nguema Mbasogo, President of Equatorial Guinea, and H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, will both speak at APPO CAPE VII Secretary General of APPO H.E. Mahaman Laouan Gaya and H.E. Emmanuel Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources, will present on the foundational reforms of the African Petroleum Producers’ Organization H.E. Mohammed Sanusi Barkindo, Secretary General of OPEC; Dr Sun Xiansheng, Secretary General of the International Energy Forum and H.E. Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF) are all speaking at APPO CAPE VII APPO CAPE VII welcomes…

If 8 companies have applied for membership of the Federation of African National Insurance Companies -FANAF (including East Africa Global Non-Life Insurance Company of Burundi, Atlantic Insurance IARD Cameroon, the African Insurance of Congo- Brazzaville, Hannover Ré Côte d’Ivoire, Helvetia Assurance Dakar), it should be noted that Damane Assurance of Mauritania and Axa Assurance Morocco and Wafa Imma Assistance of Morocco withdrew, was it learned at the end of the general meetings of the Federation which took place in Tunis from 17 to 21 February 2019 .. No explanation has been given in what seems to be an unprecedented event…

3 will not have been a Sunday like any other in Algeria. The president Abdelaziz Bouteflika, 82 years old, had cost to present his candidacy before midnight, last legal deadline to apply for the presidential elections of April 18, 2019. In the middle of the afternoon and while some media claimed that he submitted his candidacy, the strong man of Algiers had not yet returned from Switzerland where he underwent a series of medical examinations in the VIP service. University Hospitals of Geneva (HUG). Meanwhile, the street rumbled against the fifth mandate of a sick man, who has not made…