Author: Editor

The latest news at the BRVM (Abidjan), the Casablanca Stock Exchange, Tunis, Douala and the JSE do not allow to establish a uniform trend. African markets remain volatile and a bit bearish. -After the launch of the first cohort on March 19, 2018, the Regional Stock Exchange (Brvm) will proceed on Monday, December 10, at the launch of the second cohort of SMEs Program Elite Brvm Lounge. The program, which aims, in addition to capacity building, to prepare companies in the zone of the West African Economic and Monetary Union to access the third compartment of the Brvm, was created…

A high-level meeting between the Regional Council for Public Savings and the Financial Market (CREPMF) and the issuers of securities listed on the Regional Stock Exchange (BRVM) should take place in Abidjan. The agenda is important. As part of the actions to enhance the attractiveness of the regional financial market and in the margin of the commemoration of the 20 years of the anniversary of the Professional Association of Management and Intermediation Societies (APSGI), the Regional Council of the public savings and the financial market (CREPMF) is organizing, on Thursday, December 13 at 8:30 am at Radisson Blu, a high-level…

Paul-Harry Aithnard succeeds Charles Dakoiko (called on to retire) at the head of Ecobank Côte d’Ivoire. The decision taken last August and confirmed at the end of the ordinary and extraordinary general meetings of 4 December 2018 in Abidjan, must still receive the approval of the Banking Commission of the Central Bank of West African States ( BCEAO). The new Managing Director, a graduate in Management from Sorbonne University Paris-IV and a Master of Finance from HEC Montréal, began his banking career in 1998 in Canada with BNP Paribas Securities as Analyst. A year later he joined BBSP, an independent…

Officially, it is for violating the US embargo against Iran that Meng Wanzhou, 46, chief financial officer of Chinese telecoms giant Huawei and daughter of group founder Ren Zhengfei, was arrested on Saturday, December 1st. The United States issued an arrest warrant against Meng on August 22nd. In fact, this arrest occurred in a third country (Vancouver, Canada) and while a few thousand miles away, Donald Trump and his American counterpart, were tasting a steak, in a reunion on the sidelines of the G20 supposed to end to their trade war, is a new testimony of Washington’s unilateralism in…

Summoned to choose his side, Guillaume Soro, president of the national assembly of Côte d’Ivoire, is, more than ever, back to the wall. His refusal to take a stand between the supporters of the unification of the parties of the presidential majority and those who hold the independence of the PDCI of Henri Konan Bedié, tactically defensible, would be politically ambiguous. Decryption. “Little by little, the bird is nesting”. It is by this small sentence posted, Friday, December 6, on its Facebook page that Guillaume Soro answered to Adama Bictogo, president of the Committee of organization of the next congress…

By Magaye Gaye * France does not seem willing to restore all the works of art stolen from Africa during colonization. Of the 90,000 works officially listed, representing 90% of the cultural heritage produced during the occupation, it seems for the moment to be willing to return only 26 in Benin, which is insignificant. This attitude reflects an unsuitable state of mind exacerbated by legislation to protect an ill-gotten legacy. In fact, Article 3111-1 of the General Code of Public Ownership stipulates that “The property of public persons in the public domain is inalienable and imprescriptible. More specifically, the Act…

Senegal plans to acquire two new ports (Ndayane and Sendou) to replace the Autonomous Port of Dakar, almost suffocated by the volume of traffic and left behind by the ports of Lome, Lagos, Tema and Abidjan. Thus, the port of Ndayane (50 km south of Dakar), devolved to DP Word, will start in 2019 for an investment estimated at $ 2 billion as part of an innovative PPP. “We are finalizing the agreements with the strategic partners for the construction of the port of Ndayane which, in its first phase (2019 and 2020), will require more than 500 billion FCFA…

By Valérie K. South African President Cyril Ramaphosa announced on Friday (December 7th) during a speech in Johannesburg that South African workers will benefit from the minimum wage as of January 1st, 2019. It is a minimum wage of 20 rand or 3,500 rand (244 euros) per month on a 42-hour basis per week, which should benefit 70% of agricultural and 90% of the house staff, according to the authorities. “This is a historic step forward for South African workers, who have been exploited for generations,” said the South African president. In power since February 2018 after the resignation of…

By Valerie K. The Chadian Minister of Finance and Budget, Allali Mahamat Abakar, and the Ambassador of France to Chad, Philippe Lacoste, signed Thursday, December 6 in N’Djamena, two financing agreements for a total amount of 50 million euros . This assistance is part of the economic and financial program launched in 2016 between the two countries. According to Mr. Lacoste, the first convention is a donation of 10 million euros which “will be entirely allocated to the health sector. This will include ensuring budget allocations for the country’s main hospitals and the National Blood Transfusion Center, as well as…

By Cédric T. The construction of the Taïba Ndiaye wind farm (PETN) in western Senegal was initiated by the initiators of the “first industrial scale wind energy project in West Africa”. “The project combines the supply of electricity to two million Senegalese to a significant local socio-economic impact throughout the duration of the project,” says Chris Antonopoulos, Chairman and CEO of Lekela, the project’s financial partner. cost is estimated at CFAF 150 billion. “With a capacity of 158.7 MW that will be sold to Senelec, the Taïba Ndiaye Wind Farm will position Senegal as a pioneer of clean, reliable and…

The Banque Centrale Populaire (BCP) will accompany Senegal in phase 2 of the Emerging Senegal Plan which will be launched on the sidelines of the Consultative Group scheduled for Paris on December 18th. “This commitment will be multifaceted, and aligned with the government’s ambitions for extractive industries, but also the development of agriculture, including the groundnut sector, and further strengthening of infrastructure,” Kamal said. Mokdad, director general of the BCP in charge of international development. Visiting Senegal, on December 4, at the head of a large delegation of bank executives, Mr. Mokdad recalled the constant commitment of the bank in…

The 100% independent portfolio management company, Harvest Asset Management has chosen the asset management software ATLANTIS SGO, developed by INEXA CÔTE D’IVOIRE, to manage its portfolio management activity in order to respond more fully and optimally the investment and investment needs of its clients. Douala, December 4, 2018: ATLANTIS SGO is a platform that offers Harvest Asset Management modules allowing it to manage the life cycles of all the funds entrusted to it in a simple, transparent and optimal manner. This solution includes several advanced features such as its automation, intuitive user interface and strong data capture capabilities that are…

Sawari Ventures today announced the US$35 million first closing of Sawari Ventures North Africa Fund I (SVNFI) during a press conference on the sidelines of the Africa 2018 Business Forum in Sharm El Sheikh, to invest in technology and knowledge driven companies in Egypt, Tunisia and Morocco. The first closing investors are composed of global financial institutions including the European Investment Bank (EIB), the UK’s CDC, the French Development Agency’s private sector financing arm Proparco and the Dutch Good Growth Fund (DGGF) managed by Triple Jump. Sawari Ventures will be soon announcing the closing of an Egypt only fund in…

As part of its commitment to make entrepreneurship more inclusive in the 22 Member States it serves, the Eastern and Southern African Trade and Development Bank (TDB) is signing today an MOU with Enat Bank. The MOU will support Ethiopian SMEs, with a special focus women-owned and managed export-oriented businesses. The MOU is signed by Admassu Tadesse, TDB President and Chief Executive, and Wondwossen Teshome, Enat Bank President, in the presence of H.E. Hailemariam Desalegn, Former Prime Minister of Ethiopia, H.E. Rupiah Banda, Former President of the Zambia and Member of the TDB Eminent Panel of Advisors, H.E. Meaza…

By Cédric T. Since 3 December 2018, Togo has become the 20th member state of the Africa Finance Corporation (AFC), an infrastructure development financial institution dedicated to Africa. “A few months ago, we followed the presentation of the country’s ambitious program to modernize its economy, and in particular its infrastructure, through the PND (National Development Plan) announced last August. As the leading African investor in the sector, we are ready to support Togo in the financing and development of its infrastructure, “said AFC President and CEO Samaila Zubairu in a statement. To face up to its various socio-economic challenges, Togo…

By Valérie K. Togolese President Faure Essossimna Ganssingbé on Monday (December 3rd) laid the foundation stone for the construction of a Carrier Hotel, the very first data center in Togo. The infrastructure is financed by the World Bank under the West African Regional Communication Infrastructure Development Plan (WARCIP). It will require an investment of 15.3 million euros, and its work will end in 15 months from January 2019. According to the Minister of Posts and Digital Economy, Cina Lawson, it is about “A real opportunity for Togo, which will enable the country to significantly improve the lives of its citizens…

West Africa Rating Agency (WARA) announces the publication, on December 3, 2018, of the first rating of the Bank of Habitat of Senegal (BHS). On its regional scale, WARA assigns BHS the long-term rating of “BBB” in investment grade, while its short-term rating is “w-4”. The perspective attached to these ratings is stable. At the same time, on its international scale, WARA assigns to BHS the following ratings and perspectives: iB / Stable / iw-6. BHS was created in 1979 by the State of Senegal to finance the real estate sector in general, and social housing in particular. Today, BHS…

Coris Bank International launched “CORIS MONEY” on Friday, November 30, 2018 in Ouagadougou. It is an electronic purse that allows Burkinabe to send and receive money and pay bills and many other operations. Starting in 2019, Coris Money will be gradually rolled out in the group’s other subsidiaries in Côte d’Ivoire, Mali, Togo, Benin, Senegal and Niger. “CORIS MONEY” relies on a distribution network of 1,800 points of sale where it is possible to open an account. Speaking in the week of the financial inclusion of the BCEAO, this new product allows Burkinabe who do not have a bank account…

This transaction represents Vantage Capital’s 27th mezzanine financing transaction on three generations of mezzanine funds, with its mezzanine investment portfolio now spread across nine African countries. Africa’s largest mezzanine fund manager announced on December 3 that it has granted € 19 million of mezzanine financing to Pétro Ivoire, a leading distributor of oil and gas products in Côte d’Ivoire. The company, which operates a network of 72 service stations across the country (3rd network after Total and Vivo Energy), is also the leading gas distributor in Côte d’Ivoire, with more than 1.7 million gas cylinders in circulation by the end…

The Citi Foundation and JA Africa are pleased to announce the renewal of their partnership for another year. Citi Foundation’s programs that help young people, especially low-income youth, link education goals with skills development and employment motivated this partnership renewal. The program launches in seven countries. Through the ‘Turning Youth Potential into Enterprise Program’, JA Africa will reach 4,550 youth in school and out of school through two programs: JA Company Program and ITS TYME (Immersion Training Strategy Targeting Young Marginalized Entrepreneurs). The programs will provide young men and women with training that develops their understanding of business and entrepreneurship,…

AfricInvest, a leading pan-African mid-cap-focused private equity firm, is pleased to announce the final close of its North African Fund, Maghreb Private Equity IV (“MPEF IV”). The African Development Bank joined the third and final investment round, committing EUR20m to the fund and taking the fund’s total capital commitments to EUR194m, in line with the fund’s target size. MPEF IV is a 10-year fund managed by AfricInvest. It will invest in small and medium enterprises in North Africa (including Algeria, Egypt, Morocco, and Tunisia), looking to take substantial minority stakes. The fund’s strategy will target companies that are well-established in…

The StartUp Manifesto, Egypt’s first comprehensive documentation of the challenges facing the entrepreneurship ecosystem, is now launched and available online. An initiative powered by RiseUp, the Manifesto tackles the most pressing issues ranging from access to data, access to funding, the talent brain drain out of Egypt, investment opportunities and policies and regulatory requirements. Launched ahead of the 6th annual Riseup Summit, the Start-Up Manifesto is a reflection of this year’s theme “Aim High, Stay Grounded”, because, according to the team behind it, it “captures the realities on the ground and suggests solutions that can really make a difference.” A group of…

Published on December 1 in the Official Journal of the West African Economic and Monetary Union (WAEMU), the directive establishing audiovisual legal deposit in the eight member states of this zone is a world first. The only example of a Community initiative on audiovisual legal deposit, this directive will make it possible to organize the preservation of audiovisual heritage in an economic area of ​​112 million inhabitants including Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. Audiovisual legal deposit is a legal device that allows states to collect audiovisual material for conservation, research and education purposes.…

By Valentine F. As the end of the year approaches, Qatar is stepping up strategic choice declarations to achieve diversification of its economy and self-sufficiency, driven by its recent five-year development plan. The Kingdom of Qatar airline has announced its possible separation from the Oneworld alliance. Qatar Airways could thus stand on its own. Akbar al Baker, president since 1997 held a speech on Tuesday, November 13 in Madrid at a conference organized by the International Air Transport Association (IATA). The origin of this position stems from the refusal of the founding companies of the alliance Oneworld to make agreements…

Central African Republic today in Cairo formalised its membership of the African Export-Import Bank (Afreximbank) with the deposit of the instrument of the country’s ratification of the Bank’s Establishment Agreement with the continental trade finance institution. Speaking during a ceremony at the Bank’s headquarters, Claude Rameaux Bireau, Minister of State and Economic Adviser to the President, who led a five-member delegation, said that Central African Republic had very high expectations from Afreximbank and looked forward to strengthened cooperation with the institution. Mr. Bireau said that Central African Republic would move quickly to take up shareholding in the Bank and announced that…

The African continent must no longer “outsource its security,” declared, in January 2017, Cheikh Tidiane Gadio, former head of Senegalese diplomacy, for nine years, under the regime of President Abdoulaye Wade. These remarks, made during the inaugural session of the fourth edition of an international exhibition dedicated to security and defense, held in Abidjan, signaled an urgency: we must find endogenous solutions to our defense and security problems. security, contrary to the sad reality that currently prevails in the Sahel, particularly in Mali. In a context in which the functioning of the African Union (AU), an annual budget of approximately…

Given by some observers as a winner in the first round of presidential elections in February 2019, President Macky Sall gave a show of strength during his inauguration by the Benno Bok Yaakar * alliance on 1 December in Diamniadio, 30 km away. north of Dakar. More than 15,000 activists were present in the den of “Dakar Arena”, a brand new sports complex delivered just three months ago. The inauguration held in the wake of the 26th Congress of Liberal International, saw Presidents Alassane Ouattara of Côte d’Ivoire, Adama Barrow of Gambia, Mohamed Abdel Aziz of Mauritania and George Weah…

President Joseph Kabila, who will not run for his own succession in the presidential, legislative and provincial elections on December 23, has some idea of ​​what he will be. The strong man of Kinshasa sees himself as a future farmer, respectful of nature and in love with the environment. Interviewed by Colette Braeckman of Belgium Evening, the most Congolese of Belgian journalists, Kabila said he will retire to his farms. “My farms, in Kingakati or Katanga, are the result of years of work, I built little by little … This is also a lesson I would like to give to…

Africa50, the pan-African infrastructure investment platform, has acquired 15% of the equity stake in the Nachtigal Hydro Power Company (NHPC) which runs the Nachtigal hydropower project in Cameroon. Under the terms of the agreement signed today in Yaoundé, Africa 50 purchased its stake from the Government of Cameroon, an Africa50 shareholder, helping free-up public funds for other pressing development needs. The project entails the construction and operation of a 420 MW hydropower plant on the Sanaga river near Nachtigal Falls, 65 kilometers from Yaoundé, as well as a 50 kilometer transmission line to Nyom. It will be operated under a…

By 2020, Africa will spend $7-15 billion annually to adapt to climate change, and the price tag could hit $50 billion by 2050. Fortunately, proactive policies and investments in sustainable development could unleash a wave of economic opportunity, which in turn could make adaptation more manageable. CAPE TOWN – The fight against climate change could be reshaped in the final month of the year, with the just-completed G20 summit in Argentina followed this week and next by the United Nations Framework Convention on Climate Change(COP24) in Katowice, Poland. But will leaders be bold enough to push for bold policies to keep…