Author: Editor

By Valérie K. Moroccan Minister of Energy, Mines and Sustainable Development, Aziz Rabbah, reported on Wednesday (January 9th) that the share of renewable energies in the national electricity mix reached 35% at the end of 2018, with an installed capacity of more than 2,965 MW. “The ministry is looking to develop an additional capacity of about 10,000 MW of renewable energy, divided into 4,500 MW solar, 4,200 MW wind and 1,300 MW hydroelectric by 2030”, added the minister who spoke to the opening of a media day initiated by his department in Rabat. It should be noted that the draft…

By Cédric T. The Tunisian Stock Exchange (SBT) has announced the sale on the market of 1,340,000 shares of Universal Auto Distributors Holding (UADH), during the meeting of Tuesday, January 15, 2019. The minimum price of this sale is 1,840 dinar Tunisian. The sale was the subject of a court decision. Subsidiary of LIG (Loukil Investment Group), the Tunisian company UADH has subsidiaries that operate in several sectors of activity namely Industry, agro-industry, automotive, technology, etc. In the second quarter of 2018, its figures showed an 8.4% increase in revenue year-over-year.

Mr. Karim HAJJI, President of the Association of African Stock Exchanges (ASEA) and General Manager of the Casablanca Stock Exchange and the Vice-President of the Association, Dr. Edoh Kossi AMENOUNVE, Director General of the BRVM, made a working visit , January 09, 2019 at the Bank African Development Bank (ADB) in Abidjan. This visit is part of the actions to be undertaken for the launch of the African Exchanges Linkage Project (AELP). The AELP project is a joint initiative of ASEA and AfDB to connect African exchanges to facilitate cross-border trading and securities settlement / delivery. This project currently includes…

Liquid Telecom has appointed Mohamed Abdel Bassit as Regional General Manager for the Middle East and West Africa (MEWA), within the Pan-African Telecom Group, effective January 1, 2019. Based in Cairo, Bassit will oversee the expansion of the group within MEWA after recently announcing the $ 400 million investment in the Egyptian market and the completion of the first fiber optic network from Cape Town to Cairo. Bassit will also explore new markets in West Africa as Liquid Telecom begins to expand its service offering in the region. The regional CEO of MEWA is a new position at Liquid Telecom…

I propose to you at the end of the year inspirational quotes and proverbs relating to what characterizes leaders on fundamental qualities: action, perseverance, resistance and shifted vision The action : Being able to realize, to test in situation and to advance in a concrete way is an unavoidable quality of the leader. You have to know what you want. When we know it, we must have the courage to say it, when we say it, we must have the courage to do it. – Georges Clemenceau. Whoever pursues the road called “tomorrow” will arrive in the place called “never”.…

to a constitutional law imbroglio In a communique issued today (December 26, 2019) of which we have a copy, the Independent National Electoral Commission (CENI) announces that the elections in Beni_ville *, Butembo * and Yumbi * are postponed until March 2019. A partial report in three localities which represents about two million voters, a reserve of voice capable of tipping a poll to a turn. The argument of the CENI The electoral commission advances as argument of the postponement of the presidential election planned the 30 in the three localities raised reasons security and health in Beni, Butembo and…

By Valérie K. The African Development Bank (AfDB) and a Chinese fund signed on December 21, 2018, two loan agreements totaling 115 million euros with the Moroccan National Office of Electricity and Drinking Water (ONEE). This is indeed an envelope intended to finance a program for the sustainability and securing of access to water in the country. This program, it is said, benefits a current global population of 2.5 million who will reach 3.3 million by 2040. ONEE also specifies that the first agreement concerns a loan granted by the ADB for 79.33 million euros, while the second loan is…

By Valérie K. The Greek national airline Aegean Airlines will add three new destinations to its network in April 2019. These are Marrakech, Casablanca and Tunis that are added to Cairo, the only African destination of the Greek national airline. The company intends to strengthen in the north of the continent. As of June 30, 2018, Aegean Airlines serves 153 destinations in 44 countries, operating one of the youngest fleets in Europe with 58 aircraft. In 2017, it was awarded for the 8th time by Skytrax as “Best Regional Airline in Europe”.

By Valérie K. The Djibouti Minister of Energy and Natural Resources, Yonis Ali Guedi, and Mohamed Shaker El-Markabi, Egyptian Minister of Energy signed on December 19, 2018 in Cairo, an agreement which stipulates the reinforcement of the bilateral cooperation in the fields of electricity and renewable energies. According to the text, Djibouti will notably benefit from capacity building through the development of operational plans for renewable energy projects, and technical assistance in various fields. These include the construction of photovoltaic solar power plants in isolated villages, the development of energy legislation in the light of the Egyptian model, the planning,…

By Valérie K. The International Monetary Fund (IMF) completed on December 19, 2018, the fifth review of the Extended Credit Facility (ECF) agreement for the Central African Republic, and approved a disbursement of approximately $ 31.6 million. USD in his favor. “The results obtained by the Central African Republic under the ECF-supported program have been satisfactory despite a difficult security environment and difficult humanitarian conditions. The authorities remain committed to maintaining fiscal policy consistent with macroeconomic stability, which is essential for economic growth and poverty reduction. The 2019 budget is anchored to the national primary balance target while allowing for…

One of the three pillars of the Emerging Senegal Plan Dakar Finance Cluster, a major competitive cluster of leading universities, start-ups and leading economic operators, was formally established in Paris on December 17, 2018. This project, initiated and co-founded by Finance Innovation, will be one of the pillars of the Senegal Emergence Plan (PSE). “Mazars ‘participation in the Dakar Finance Cluster roundtable is an opportunity to affirm Mazars’ commitment to developing innovation for the benefit of the continent’s youth and to contribute to the emergence of Africa” says Abdou Diop, Managing Partner of Mazars Audit & Conseil and co-signatory of…

At the origin of one of the greatest Senegalese and African successes in the field of telecommunication, Kabirou Mbodj does not leave indifferent. In an exclusive interview with Financial Afrik, the tycon brushes the prospects of a sector in change. You are known in the finance sphere and your success does not leave you indifferent. Who is Kabirou Mbodji? If I have to talk about my career since leaving, I would say that I did a normal school and university course. I turned my attention to my interests, which were to help improve the lives of people, to help…

By Cédric T. Chad and the Central African Republic, two neighboring countries of Central Africa, signed on 18 December 2018, a bilateral agreement on air services. Indeed, the two parties have agreed on the designation of the airlines for the operation of the services between the different airports, the traffic rights of the companies designated by each party without frequency limits, the capacity module that they wish to put in operation and the free fixing of tariffs. It should be noted that no aerial link exists, to date, between the two countries. The N’Djamena-Bangui line is announced to be serviced…

By Noel K. Tshiani The Democratic Republic of Congo is the second largest African country by territory, and it has a population of nearly 80 million people.  Congo is a developing country, and its diaspora in Europe, America, and Asia can play an active and major role in contributing to its economic development in sectors ranging from finance, technology, construction, agriculture, to energy.

By Noel K. Tshiani As we move closer toward the beginning of the new year, professionals and entrepreneurs need to be aware of the five terms that will distinguish them in business in 2019.  These five terms are professional network, project, impact, financing, and expertise.  Success in business or in professional life going forward will be determined by those who have a good understanding of these terms, especially by those who have developed a proactive approach and not by those who act in a sporadic way.

By  Noel K. Tshiani The Democratic Republic of Congo is at crossroads in its path toward its economic development going forward. Digital strategy must be at the heart of its development both in the public and private sectors in the new year and beyond.  And for the digital sector to develop and grow not only in Kinshasa but also in other cities such as Lubumbashi and Goma in the coming months, a strong and reliable foundation must be put into place by the public and private sectors across the country one step at a time.

Congo Business Network is hosting its fourth online event on January 5, 2019 on Cisco WebEx from 18:00 to 19:30 Kinshasa time. The theme of this conference is: The Role of Chambers of Commerce in the Development of Congo.

The African Export-Import Bank (Afreximbank) has signed a financing agreement with Securiport SUARL, Senegal, to provide Securiport with a $15-million term loan to finance the design, construction and commissioning of a civil aviation and immigration security system for the Juba International Airport in South Sudan. The facility, which was approved for five years, will assist South Sudan to modernize equipment and systems at the Juba International Airport, leveraging on future flows of airline fees. Speaking during the signing ceremony at the Afreximbank Headquarters in Cairo on Thursday, Prof. Benedict Oramah, President of the Bank, highlighted the importance of transport links and logistics…

By Valérie K. The Sudanese government approved the 2019 budget on Wednesday (December 19th). The text forecasts an economic growth of 5.1% in 2019 against 4% in 2018, as well as a reduction of the budget deficit to 3.3%. According to government forecasts, exports are expected to grow by 30 percent while state revenues increase by 39 percent next year. “The 2019 budget is based on real resources and disciplined spending,” said Moataz Moussa, Sudan’s prime minister. The government plans to focus on increasing production of oil, wheat and sugar and significant investments in the digital economy, he added. Sudan…

By Valérie K. Chaired by Trade Minister Said Djellab, a national meeting was held on December 17, 2018 in Algiers, focusing on export success for income diversification. In the long term, banks were asked to support economic operators and a simplification of administrative procedures. It is indeed more commitments for the extension and strengthening of the prerogatives of the entities concerned by the promotion of foreign trade. Participants also noted the need to establish an Export Skills Upgrade Fund to support training programs that focus on skills needed for export. They stressed, moreover, the importance of targeting high-growth foreign markets…

In a joint statement released on December 20, 2018, Maryse Jamain, CEO of Brazzaville MBA and Guy Gweth, President of the African Center for Business Intelligence and Intelligence (CAVIE), announced the signing of a strategic partnership to to increase the exposure of Congolese decision-makers to economic intelligence. On December 20, 2018, Brazzaville MBA and CAVIE entered into a strategic partnership agreement. Objective: to reinforce their respective capacities in terms of training and support for Congolese students, companies, executives and decision-makers. The 2019 agenda For the year 2019, the parties plan five main activities in Brazzaville: Launch…

By Cédric T. The Algerian telephony operator Djezzy, 51% owned by the National Investment Fund (FNI), registered an increase of one million subscribers in 2018, now with 15.6 million subscriptions, an increase of 4.7%. This boost, it is said, also resulted in an increase in the company’s 49% -owned turnover by the Russian-Norwegian telecom group Veon. In the third quarter of the year, the semi-public telephone operator posted sequential growth of 5.6% (around 180 million euros). For its part, data revenue grew by 71.8% in one year thanks to the growing use of the mobile Internet, according to Matthieu Galvani,…

By Cédric T. The South African government has launched the Project Development Partnership Fund (PDP), a joint venture to finance technology companies to address the country’s socio-economic challenges, in collaboration with the management body of the public service pension fund (Public Investment Corporation) and the Unemployment Insurance Fund (UIF). It is a fund that aims to finance small start-up companies developing technological solutions. With a starting point of approximately $ 141 million, it will focus on SMEs and start-ups in the agri-food, ICT, water, infrastructure, food and beverage industries. housing, manufacturing. According to Mildred Oliphant, Minister of Labor, “There is…

By Valérie K. Stanbic Bank Ghana’s Managing Director and President of the Alhassan Andani Association of Bankers of the Country (GAB) has been recognized as the best CEO of the banking sector at the inaugural Ghana Industry CEO Awards 2018 held on December 7, 2018. “This is the culmination of a collective effort to provide not only excellent and tailored banking solutions, but also a commitment to creating a strong and respected banking sector in Ghana. So it’s entirely appropriate that I dedicate this recognition and this award to the wonderful team I work with at Stanbic Bank, “he said.…

By Cédric T. Emergent Technology Holdings Ip, a US financial company, is buying up the shares of Ghanaian Interpay Africa, which will have to change its name shortly. “Africa offers opportunities for growth in e-commerce. The young population is rapidly adopting technological innovation and is demanding more and more goods and services, local and foreign. The landscape of payment companies is growing rapidly. We are delighted to be part of Emergent Technology’s vision of advancing local payment services in the region, “said Saqib Nazir, CEO of Interpay Africa. Founded in 2017 and headquartered in Santa Clara, California, Emergent Technology Holdings…

By Valérie K. It was from Paris that Senegalese President Macky Sall announced on December 18, 2018, his decision to put an end to the tax exemption granted for several years to cement plants installed in the country. “They have to pay the taxes,” he said during the second fundraising day for financing the second phase of his Emerging Senegal Plan (PSE). “Exemptions can be understood when one is in an exploration phase. For example, for mining, oil or gas companies that are doing exploration that is at risk of losing a lot of money, “said Mankeur Ndiaye, chairman of…

The Africa Road Builders – Trophée Babacar NDIAYE is honored to announce that its Inaugural Conference 2019 will be held on March 21 in Nairobi, Kenya. This conference marks the launch of the 4th edition of this prestigious event which will culminate in the presentation of the Babacar NDIAYE Trophy, scheduled for June 12, 2019, at the Annual Meetings of the African Development Bank (AfDB) in Malabo in Equatorial Guinea. The Inaugural Conference in Nairobi will focus on this year’s theme: Mobility, Regional Integration and Africa’s Economic Prosperity. It will also translate a tribute to President Uhuru KENYATTA,…

 SouthBridge Group announced today that Andrew Alli, former CEO of Africa Finance Corporation, will join and lead the SouthBridge group as CEO.   SouthBridge Group announced today that Andrew Alli who stepped down in July as Head of the Africa Finance Corporation will join the firm in the new year as its Chief Executive Officer (CEO). A dual citizen of Nigeria and the UK, Andrew is a Chartered Accountant, who holds a BEng in Electronics and Electrical Engineering from King’s College, University of London, and an MBA from INSEAD. After a decade at the International Finance Corporation (IFC) in different positions including Country…

He could give you his full attention for a few seconds and leave you with the feeling you mattered. This is a quality you will recognize in very few individuals. It is emotional and profound. That’s because people occupying powerful positions more commonly portray arrogance and impatience. It could be true such people are usually quite busy, which explains their limited time for kindness or small talk. That is the normal behaviour you sort of expect. And, then, there was the Kofi Annan way. From a secular pope to a rock star of diplomacy, from a Nobel Prize laureate to…

Congo Business Network is planning its third online event on Saturday, December 15, 2018 on Cisco WebEx. Noel K. Tshiani, president of Agere Global, took the initiative to organize this event on the theme: Entrepreneur from the diaspora: How do you register a company in Congo? Confirmation of participation will take place through LinkedIn Events, where nearly 300 people have already confirmed their willingness to participate in this highly anticipated event by entrepreneurs from the diaspora, especially in America and Europe. There are nearly 400,000 Congolese in these two continents, according to the latest available statistics from the Canadian and…