Author: Editor

Noel K. Tshiani, a native of the Democratic Republic of Congo, has lived in the United States since 1996. He holds three university degrees in finance, marketing and political science, and has also participated in the executive education in finance program at the Wharton School of Business in Philadelphia, and another in entrepreneurship through the Kauffman Foundation in New York. Currently President of Agere Global, a New York-based investment advisory and business strategy firm, he is also the founder of Congo Business Network, an international network of Congolese professionals and entrepreneurs. Its mission is to connect the diaspora to the…

In the presence of Messrs. Wang Haimin and Cyrille Bolloré, COSCO SHIPPING Lines and Bolloré Transport & Logistics and signed a strategic memorandum of understanding on January 29, 2019 in Shanghai. Partners for more than 20 years, the two companies want to densify their commercial relations while exploring new opportunities for cooperation in transport, logistics and joint investments. Through this agreement, the two companies agreed in particular to explore the possibilities of commercial and operational collaboration to develop their respective activities and meet the needs of their customers, particularly in terms of digitalization. Bolloré Transport & Logistics and COSCO SHIPPING…

By Gérard Lafont The meeting between the Egyptian Abdel Fattah Al-Sissi and the African Union enjoys a favorable alignment of the planets. The first is the natural candidate to lead the second towards its transformation into a supranational organization able to meet the challenges of the continent. Last Sunday, Rwandan President Paul Kagame passed the torch of the presidency of the African Union to his Egyptian counterpart – Abdel Fattah Al-Sissi – during the 32nd ordinary session of the Assembly of the African Union. is held in Addis Ababa. A passage of witness which is in the continuity and which…

At the end of the 1990s, the Senegalese realized the unsavory situation of their country and the imperious need to observe an alternation that finally sounded the death knell of a party-state (Socialist Party, 39 years power) which will finally have been there only for itself, more than for the people. For fear that the first alternation – despite its immense wind of hope – will be transformed into a monarchy (passage of power from father to son among the Wade, Senegalese Democratic Party), the people took their responsibilities to elect the man of rupture , President Macky Sall. A…

The online conference organized by Congo Business Network, Legal Tech Africa and Tribune Justice took place via Cisco WebEx on February 16, 2019, from 18:00 to 20:00 Paris time on the theme: “Legal Tech: its advantages for success in business in Africa.” Confirmation of participation took place on LinkedIn Events, where 590 people overwhelmingly confirmed their willingness to participate in this international event whose objective was to bring together entrepreneurs who have experience in business in the diaspora and in Africa. According to the program, each speaker spoke on a topic based on his expertise by analyzing the current environment…

By Abdoulaye Sow Nissan Motor Co Ltd. moved to Algeria with the opening in 2020 of a plant in Oran. The group was approved by the government on December 6, 2018. It’s $ 160 million in investment for a capacity of 63,500 light-duty and touring vehicles a year that Nissan plans to carry out in partnership with the Hasnaoui group. It is planned to create 1,800 direct jobs for the needs of the factory. The creation of a joint venture in charge of the project is also underway and will be launched in the coming weeks.

By Abdoulaye Sow Investors & Partners (I & P) completed the intermediate closing of I & P Afrique Entrepreneurs 2 (IPAE 2), thus reaching a total financing amount of 75 million euros. The impact group intends to support more than 30 small and medium-sized companies in sub-Saharan Africa by 2022. This closing allows IPAE 2 to be part of the same dynamic as IPAE 1, which has invested in 29 companies African. The fund headed by Jean Michel Severino plans to reach the target size of the IPAE 2 program (80 to 90 million euros) by the end of 2019…

“We are looking forward to working with the Government of Ghana to deepen the relationship not only with the Agency and our sister company ARC Ltd, but also to build solidarity with its neighbours and the African continent at large.”- Mohamed Beavogui The Government of Ghana has signed a Programme of Work (Programme) with the African Risk Capacity (ARC) on the margins of the Joint Board Meeting of the African Risk Capacity Agency, and its financial affiliate, African Risk Capacity Limited which commenced today in Accra. The Programme will help the Government of Ghana to improve responses to extreme weather…

In the presence of Messrs Wang Haimin and Cyrille Bolloré, COSCO SHIPPING Lines and Bolloré Transport & Logistics have signed on January 29, 2019 a strategic Memorandum of Understanding in Shanghai. The two companies, partners for over 20 years, want to densify their commercial relations while exploring new opportunities for cooperation in transport, logistics and port infrastructure. Through this agreement, the two companies have agreed to explore the possibilities of commercial collaboration in order to develop their respective activities and satisfy the needs of their customers, particularly in terms of digitalization. Bolloré Transport & Logistics and COSCO SHIPPING Lines share…

Wendel has agreed to sell its 40% holding in PlaYce (formerly SGI Africa) to CFAO for net proceeds of €32.2 million, following an initial investment of €25.3 million at the end of July 2016. PlaYce was created in 2015 by CFAO, primarily to support the development of the Carrefour brand, which CFAO operates through a joint venture with the Group, across several West African countries. Since inception, PlaYce has opened three shopping centers (two in Abidjan and one in Douala), representing a total selling area of around 21,400 sq. m. (with over 15,000 additional sq. m. currently being developed) and…

This online event is organized by Congo Business Network, Legal Tech Africa and Tribune Justice. The event will take place on Cisco WebEx on February 16, 2019 from 6pm to 8pm Paris time on the theme: “Legal Tech: its advantages for success in business in Africa”. Congo Digital went to meet these key people involved in organizing the event. Interview: Noel K. Tshiani and Gibran Freitas tell us about the event “Legal Tech: its benefits for success in business in Africa.” Hello, can you introduce yourself to our readers please? Noel K. Tshiani: I came from the Democratic Republic of…

By Amath Ndiaye, Senior Lecturer, University Cheikh Anta Diop of Dakar. The debate on the CFA arouses a lot of passions, because it sends us back to our colonial past. This coinage of colonial origin is part of this multidimensional heritage that binds us to France. We can not and must not reject everything from the colonial legacy because what matters is to be free to take what is good for us by choosing the reason and not the heart. Our dignity is certainly abused on continents and seas because of our economic suffering and the violence that devour us…

The volume of premiums issued in life and non-life is down slightly for Africa (1.3%) over the period 2013 to 2017 (US $ 70.3 billion in 2013, US $ 66.7 billion in 2017 ): probably due to the fact that a lot of data were not available for some markets when compiling the figures in 2017. The global trend, for its part, is up 1.6% for the same period. period: US $ 4,593.6 billion in 2013 to US $ 4,891.7 billion in 2017. The relative share of African insurance worldwide is down 0.3 percentage points; from 1.5% in 2013 to…

The election campaign started off in Senegal. Five candidates selected according to a system of sponsorship introduced for the first time will solicit the suffrage of Senegalese during a first round scheduled on February 24, 2019. Financial Afrik has spent their economic programs comb through. In a Sahelian country where 44 per cent of the population is under the age of 15, the quality of any vision should be based on its ability to create employment and cope with the challenges of climate change. We believe that the currency issue is no more important than the deepening of West African…

OCP Group and Cummins Africa Middle East have announced the signing of a strategic partnership related to the implementation of a Master Rebuild Center (MRC) for Cummins High Horsepower engines in Khouribga, Morocco. The new facility will serve both North and West Africa and the scope of the agreement includes the on-site maintenance of the Cummins engines. The MRC will be based at the heart of OCP Group’s industrial ecosystem, within the Fertiparc of the Oued Zem Complex, located in Khouribga. This partnership is the first investment in this new industrial area, which offers an attractive environment for investors (connectivity,…

Kinshasa – Citi is pleased to announce the appointment of Willy Mulamba as Citi Country Officer (CCO) for the Democratic Republic of Congo (DRC). Willy will report to Akin Dawodu, Citi Country Officer for Nigeria and Cluster Head for West and Central Africa. He retains his responsibilities as Markets Head for DRC, and continues to report to Nabil Khemiri, Regional Markets Head for North & West Africa. Willy joined Citi in 2007 in his current role as Deputy CCO, Executive Board Director, Markets Head and Country Treasurer for DRC. Prior to joining Citi, Willy was a Senior Analyst with Pilgrim’s…

At the end of the first half of 2018, the Gabonese reinsurer saw a decrease of 2.56% of the turnover compared to the same period of 2017, ie 6,698 billion FCFA against 6, 873 billion FCFA in 2017. According to the SCG-Re newsletter, this deceleration is consecutive to that of the 16% legal divestments resulting from the market Gabonese insurance of -5%, despite an increase of more than 46% in sales. The claims burden is up and stands at FCFA 3.4 billion. The technical result stabilizes at FCFA 1.7 billion, while the financial result is up 44%, due to financial…

The General Directorate of Customs (DGD) has awarded four Bolloré Transport & Logistics (BTL) Awards of Excellence for its performance in implementing transit facilitation measures and contributing to the strengthening of foreign trade operations. By Achille Mbog Pibasso, Douala. Beyond the recognition of the performances achieved by this company over the past ten years, particularly for the facilitation of transit and the strengthening of foreign trade operations, these awards also make it possible to highlight the contribution of Bolloré Transport & Logistics to the improvement of merchandise export operations, a growth lever for Cameroon. These include the Award of Excellence…

After the February 1, 2019 dismissal of Hassoumi Massaoudou, Minister of Finance, replaced at short notice by Mamadou Diop, former vice-governor of the BCEAO, the way emerges for the powerful Mohamed Bazoum, likely candidate but still no declared for the presidential elections of 2021. But, it is clear, the Minister of Public Security, Decentralization and Customary and Religious Affairs theoretically no longer has obstacles in his path. This son of the great desert, a member of the Arab tribe of Ouled Slimane, straddling southern Libya, northern Chad and northeastern Niger, could compensate for his weak electoral base if he gets…

Carlos Lopes is a professor at the Mandela School of Public Governance at the University of Cape Town, High Representative of the African Union for partnerships with Europe post-2020, and a member of the Global Commission on the Economy & Climate This week, heads of African states are convening at the African Union Summit in Addis Ababa, Ethiopia, where they will discuss the African Union’s strategy for socio-economic development, known as Agenda 2063. This agenda casts a vision of inclusive growth and sustainability, in the face of the growing risk of climate change. It is true: rising global temperatures pose a serious challenge to the lives and livelihoods of Africans. But climate change also offers an unprecedented opportunity to steer our continent towards a more sustainable, inclusive and prosperous future. The most recent report of The New…

Ethio Telecom, which has around 66 million customers, took a major step forward in its much-anticipated privatisation last month by pre-selecting six consultancies in partnership with the World Bank Telecom, media and tech investment and consolidation activity in Africa is predicted to reach a record high for 2019 as a number of significant deals including the opening up of Ethiopia’s telecom sector are scheduled, reports specialist news provider TMT Finance (www.TMTFinance.com). Pan-African telecom operators MTN, Orange and Vodacom are among those vying to enter Ethiopia for the opportunity to serve its 105 million population following progress in the telecom privatisation…

Economist and banker Cheickna Bounajim Cisse has just published “FCFA – Hidden Face of African Finance” (Ed BoD, 2019). The author reviews the controversy related to the presence of France in the decision-making bodies of the African central banks of the franc zone. Money is a tool of hunting, an instrument of domination, in the hands of those who guarantee it, manufacture it, emit it, create it and circulate it. In a word, of those who control it. The CFA Francs, these 70-year-old currencies shared by 14 African countries in the franc zone, are increasingly attracting the attention of the…

The Cameroonian government and this financial institution initialed a financing agreement of 62 billion FCFA for the improvement of the cotton production. By Achille Mbog Pibasso, Douala The Ministry of Economy, Planning and Spatial Planning (MINEPAT) that the Islamic Development Bank (IDB) through the International Islamic Finance Corporation (ITFC) has opened a line of credit of 62 billion CFA intended for the financing of the 2018/2019 cotton campaign for the benefit of the Cotton Development Company (SODECOTON). The Murabaha loan agreement includes the purchase of agricultural inputs, including fertilizers, pesticides and grain and soybean herbicides. The Ministry of Economy said…

“It is imperative to encourage AU Member States to subscribe to the ARC mechanism considering the level of success it has achieved in bringing a complementarity that can address challenges associated with the causes of migration within the five years of its existence.” – H.E. Sacko Josefa Leonel Correa   The AU Commission (AUC), African Risk Capacity (ARC), African Development Bank (AfDB), and the UN Economic Commission for Africa (UNECA), on the margins of the ongoing 32nd Ordinary Session of the Assembly of the African Union in Addis Ababa, Ethiopia, held a High-Level Side Event under the theme: “Migration and…

The Federal Government of Nigeria has allocated a 5.12-hectare piece of land in Abuja to the African Export-Import Bank (Afreximbank) for the development of a centre of excellence for medical services to serve Nigeria and the west African subregion. The centre of excellence, the first by Afreximbank in Nigeria, will be completed 24 months after a groundbreaking exercise expected to take place in December. It is being developed by Afreximbank in collaboration with Kings College Hospital (KCH), United Kingdom, which is serving as the strategic partner. Afreximbank said that allocation of the land, which took place on 29 January, would…

The World Bank has opened a line of credit in the form of a guarantee for project developers including Electricité de France for the construction of this hydroelectric dam which will bring a substantial energy supply for the country. By Achille Mbog Pibasso, Douala Cameroon, which aspires to become an emerging economy, must improve the energy supply, which currently covers only 62% of the country’s total population. With a view to improving electricity production, the World Bank, through the Multilateral Investment Guarantee Agency (MIGA), has granted a loan of FCFA 108 billion to Cameroon for the construction of the Nachtigal…

At a hearing with Mohamed Ould Abdel Aziz, President of the Islamic Republic of Mauritania, held on 29 January in Nouakchott, ECA Executive Secretary Vera Songwe congratulated Mauritania for ratifying the Free Trade Agreement. exchange for the African continent (AfCFTA or ZLECA in French), a major project for the economic development of the region. Mauritania is one of the first countries to sign AfCFTA documents, which shows that its president and government are convinced of the importance of regional integration, Songwe said. The talks with President Ould Abdel Aziz focused on the strategic choices regarding ECA’s activities in Mauritania and…

The Regional Stock Exchange (BRVM) and the Côte d’Ivoire SME Agency (CIPME) signed a memorandum of understanding under the Chairmanship of the Ivorian State Secretary for SME Promotion, on Monday, January 28, 2019. Abidjan. This agreement, which formalizes the collaboration between the two institutions, aims at pooling their efforts with a view to, among other things, making available information on the financing opportunities available in the WAEMU regional financial market, promoting the Third Sub-Fund of the BRVM to SMEs and to reinforce the capacities of SMEs on the management of companies and the different modes of financing.

The I & P Afrique Entrepreneurs 1 (IPAE 1) fund, launched by Investisseurs & Partenaires in 2012, is now completing two new outings: the CONERGIES group, based in Côte d’Ivoire and Mali, and the Senegalese company Delta Irrigation. Both are with strategic partners who can lead these companies to a new stage of development while respecting the vision and values ​​of I & P and entrepreneurs. Strategic partnerships to continue the development of promising African SMEs Founded in 2003 in Senegal, Delta Irrigation specializes in the design and construction of hydraulic systems, especially in the agricultural field and water treatment.…

Afreximbank President Prof. Benedict Oramah addressing participants at the opening of the Financing Investment and Trade in Africa conference in Tunis.  The Fund for Export Development in Africa (FEDA), the equity investment fund created recently by the African Export-Import Bank (Afreximbank), will catalyse foreign direct investment (FDI) flows into Africa’s trade and export sectors, Prof. Benedict Oramah, President of the Bank, said yesterday. Speaking in Tunis during the opening of the Financing Investment and Trade in Africa conference organized by the Tunisia-Africa Business Council, Prof. Oramah said that Afreximbank’s vision was to leverage $1 billion in support of FEDA’s mission and to…