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ECP Africa Fund IV has just completed its fundraising and is thus the largest African investment fund raised since September 2016. ECP has brought together many public and private investors, based in Africa, Europe and North America. Pan-African venture capital investor Emerging Capital Partners (ECP) announces the closing of its fourth pan-African fund, ECP Africa Fund IV (AFIV). Headquartered in Mauritius, AFIV and its associated co-investment vehicles earned over $ 640 million in commitments, attracting many investors based in Africa, Europe and North America. ECP is particularly pleased to gather through AFIV the largest proportion of African investors in its…

The Gabonese Prime Minister has appealed to the Constitutional Court to rule on Articles 13 and 16 of the Constitution concerning the vacancy of power. In his approach, the Prime Minister wanted the Court to designate an authority that chairs the Council of Ministers to evacuate urgent files. In its response, the Constitutional Court admits a temporary unavailability of the Head of State. Thus, the Vice-President of the Republic, Pierre-Claver Maganga Moussavou, was authorized to preside over a Council of Ministers. The Court explains that it took this decision “in order to ensure the continuity of the State and the…

Emerging market debt rose by $ 1 trillion in the second quarter to $ 71 trillion, and China alone accounted for more than 80 per cent of this increase, a study by the Institute of International Finance (IIF) shows on Wednesday. . Driving this acceleration, China saw its total debt exceed 300% of its GDP, boosted by the appetite of global investors on the bonds of the world’s largest economy. Emerging economies will also face record debt maturities over the next two years, totaling more than $ 4 trillion in bond and syndicated loans by the end of 2020, including…

The US group lost 1.07 billion dollars (946 million euros) over the period July-September, 20% more than in the second quarter but 27% less than in the corresponding period last year ; the third quarter of 2017 was marked by the worst result in its history after the departure of its co-founder and former managing director Travis Kalanick. Adjusted quarterly loss before financial charges, taxes, depreciation and amortization amounted to $ 592 million, compared to $ 614 million in April-June and $ 1.02 billion in the third quarter of 2017. Chief Financial Officer Nelson Chai, who has been in the…

The investment firm Wendel announced Wednesday evening that all the accounts of IHS, a telecom infrastructure company that represents one of Wendel’s main holdings in the unlisted, were now released. “As of 14 November 2018, all IHS banks in Nigeria have cleared blocked accounts as a result of the ‘post-debit’ measures sent by the EFCC (Economic and Financial Crime Commission). IHS, no formal allegation or investigation has been notified to it in the context of EFCC requests, “adds Wendel. IHS had seen its accounts frozen at the end of 2017 on order of the EFCC. Wendel had nonetheless indicated in…

The management of RFI deplores the cancellation of the accreditation of its correspondent in Conakry, Mouctar Bah, sanction taken after an approach initiated by the Guinean Ministry of Defense. Mouctar Bah did only his work, reporting evidence collected on the night of November 7, 2018 on the circumstances of the death of two young people. He also tried, the next morning, to join the civil and military authorities to obtain their comment on these testimonies. The authorities concerned did not respond to his repeated calls and messages. Radio France Internationale is surprised by the notice issued by the High Authority…

The 22nd Meeting of the Intergovernmental Committee of Experts of the Sub-regional Office for Eastern Africa (ICE 2018) opened in Kigali Tuesday with Rwanda’s Finance and Economic Planning Minister, Uzziel Ndagijimana, urging African countries to speedily ratify the African Continental Free Trade Area (AfCFTA). Mr. Ndajimana said the AfCFTA was crucial to Africa’s inclusive growth and prosperity hence the need for more countries to urgently ratify the agreement so it can go into force. Forty-nine of Africa’s 54 countries have so far signed the agreement establishing a free trade area that is seen as vital to the continent’s economic development.…

The 14th subregional edition of the BRVM Days was held in Ouagadougou on 12 and 13 November under the theme of “innovation and development of financial markets”. The event was held first in the form of a university conference on November 12 at the 2IE institute, in front of 250 students and researchers, and then in the form of a workshop of four thematic workshops held the second day, at the Laico hotel, in the presence of the BRVM’s local partners, business leaders and the business community in general. The activities were chaired by Prime Minister Paul Kaba Thiéba, who…

For this discerning reader, the decline experienced by the BRVM goes beyond the law of supply and demand. Behind daily quotations and buying and selling pressures, there would be an invisible hand. For the small investors of the BRVM There is one and only one explanation for the continuous decline in prices at the BRVM: the heavyweights of the stock market who sold us the shares two to three times more expensive when the stock market was at the top have their cases still full of billions and are, quietly, buying us the same actions at low prices to replenish…

This Capital Opening Operation, Targeted and Strategic to the tune of 30% has just allowed the arrival of about sixty Shareholders who, according to the Executive Director Fabrice Kom Tchuenté, “have in common to be with a strong commitment to resolving African financial, banking and insurance issues and recognized international expertise, acquired for more than a decade “. FinAfrique is positioned today as the first panafrican consulting firm bringing together in its shareholding sixty experts committed men and women, from fifteen countries in Africa and Europe, and cumulating a double experience ( African and international). This new intervention…

After the Interafrican Coffee Organization (IACO), which has its headquarters in Abidjan, it is the turn of the International Cashew Advisory Council (CICC). In his opening remarks at the 3rd Cashew Processing Equipment and Technology Show (SIETTA), on Thursday, November 8th, Daniel Kablan Duncan (Ivorian Vice President) had wished the signing in a short time. It’s done Monday, November 12th. The documents relating to the Agreement making the Ivorian economic capital the seat of the CICC were initialed by Souleymane Diarrassouba (Minister of Commerce, Industry and SME Promotion of Côte d’Ivoire) and his counterpart in Benin, Ahissou Serge. Benin’s Minister…

The West African Development Bank (BOAD) is celebrating its 45th anniversary. The festivities that began on November 14, 2018 in Lome in the presence of President Alassane Ouattara of Côte d’Ivoire and the Prime Minister of Togo, representing President Faure Gnassingbe, include a forum on “Solar Energy in WAEMU, State of play, issues and prospects “. The choice of this theme expresses the growing strength of the financing of renewable energy projects in the portfolio of the development bank, one of the first African institutions approved by the Green Climate Fund. In 45 years, the activities of the West African…

By Daniel Aggre, Sika Advisory. In a context of difficult exploitation with the entry into force of the Baloise provisions and the liquidation of the SAFCACAO Group, banks listed on the BRVM have been tested, but they still managed to generate a net profit up + 11% at 192.6 billion FCFA at June 30, 2018 against 173.5 billion FCFA a year earlier. The ECOBANK Group and the SIB are the institutions with the strongest net profit growth. For both institutions, net profit rose by 31%, to 94.7 billion FCFA for the ECOBANK Group and 12.6 billion FCFA for the SIB,…

Special Advisor to the Executive Secretary of the African Capacity Building Foundation, Abdoulaye Diop is head of CAVIE after being Minister of Foreign Affairs of Mali from 2014 to 2017, Africa Director of the World Food Program from 2009 to 2014 and Ambassador from Mali to the United States of America from 2003 to 2009. The number one honorary office of the African Center for Business Intelligence and Intelligence (CAVIE) recently served as Mali’s foreign minister as the country was recovering from a political and security crisis. As head of Malian diplomacy, he was chief negotiator during the drafting of…

The release of the Regional Council of Public Savings and Financial Markets (CREPMF) was expected in the case between Senelec (electricity supplier in Senegal) to the financial rating agency Bloomfield Investment. here is the full communiqué of the UEOMOA Financial Market Constable as published in the BRVM’s official bulletin dated Tuesday, November 13, 2018. The Regional Council for Public Savings and Financial Markets has noted the publication by press releases, during the period from 6 to 10 November, of information related to the rating of the Société d’Electricité du Sénégal (Senelec) in the context of of public bond borrowings…

On November 6, 2018, Katanga Mining Limited issued a press release announcing the temporary suspension and until further notice of exports and sales of cobalt from the Kamoto Copper Company (KCC) project. Gécamines wishes, as far as it is concerned, to make the following clarifications: Gecamines was notified by its KCC representatives of the discovery in some of its trucks of a high level of uranium in cobalt hydroxide produced by KCC. Gécamines has not been involved in Katanga Mining Limited’s recent market communications, including the decision to stop exports and sales of cobalt, as well as additional investments. The…

The raising of the minimum capital in the CIMA zone has been talked about on the sidelines of the Markets Forum currently taking place in Cotonou (Benin). Taking note of the last meeting of the Council of Finance Ministers in Paris on October 5, 2018, the Regional Council of Insurance Markets (CRCA) of the CIMA zone threatens to place under provisional administration, all companies that do not fulfill the new conditions. As a reminder, only 20 companies out of 127 fulfill the new conditions described in regulation 007 / CIMA / PCMA / CE / 2016 of April 8, 2016…

The African Export-Import Bank (Afreximbank) has launched a project preparation facility aimed at increasing the availability of viable well-prepared projects in Africa and at making such projects bankable and attractive to investors. The Afreximbank Project Preparation Facility (APPF), launched in Johannesburg, South Africa, on 8 November on the sidelines of the Africa Investment Forum, will provide technical and financial support to early stage companies in the preparation and development of projects from conceptual stage to bankability stage, the point at which such projects can attract interest from equity investors and debt financiers. Afreximbank has set up the APPF with an…

The International Finance Corporation, a member of the World Bank Group, at the Global SME Finance Awards Forum in Spain, has recognized the outstanding innovations and leadership of 15 financial institutions and investment companies. financial technology around the world working to reduce the global financial gap of $ 5.2 trillion micro, small and medium enterprises (MSMEs). It was on this occasion that the Attijariwafa bank group won the prestigious platinium trophy of the “Best Bank of the TPME” in the MENA region for the year 2018, and it is Mr. Karim Idrissi Kaitouni, Executive Director in charge of the Corporate…

The signing of a new agreement punctuated the second day of the Africa Investment Forum (AIF) in Johannesburg, endorsing the entry of the Arab Bank for Economic Development in Africa (BADEA) into the capital of the Bank of Commerce and East and Southern Africa (formerly PTA Bank, now known as TDB for Trade and Development Bank). Sidi Ould Tah, Director General of BADEA, and Admassu Tadesse, President of TDB, ratified the agreement on November 8, 2018. “This is a historic milestone, moving us to a higher level of strategic partnership,” said TDB President. “We are delighted to welcome BADEA as…

A rebound in the contract for the exploitation and distribution of drinking water in urban and peri-urban Senegal. The Dispute Settlement Committee of the Public Procurement Regulatory Authority (ARMP) declared admissible, on November 7, the legal action of the Société des Eaux du Senegal (SDE), filed on November 5, to denounce adjudication provisional allocation to Suez by the Ministry of Hydraulics and Sanitation. The admissibility of the appeal of the SDE by the ARMP entails de facto, according to a source close to the file, the suspension of the provisional allocation to Suez. The decision of the Dispute Settlement Committee…

Chance of the calendar. While President Ali Bongo has been absent from the country since 24 October, suffering from a stroke according to several media, edema according to La Lettre du Continent, a “severe fatigue” according to his teams, an IMF team arrives in the field. The mission of the International Monetary Fund opened on November 7 and will look for ten days on the Economic Recovery Plan (PRE) around the Minister of Economy, Jean-Marie Ogandaga. This visit comes as Gabon prepares the third IMF review led by the head of mission for Gabon, Boileau Loko with the relevant Gabonese…

The Senators of Gabon and the members of the Committee on Finance, Budget and Accounts of the Senate, have suspended the hearing, in one of the rooms of this upper house, the Minister of State, in charge of the Budget, Fidele Otandault for cause non-payment of the arrears of session expenses and condition the resumption of work in the hemicycle to the settlement of these arrears. This situation also affects Senate staff. This Friday, reacting on the spot, the Ministry of Budget has, in a statement, made it clear that “the government has paid 1400 million CFA francs for the…

The third regular meeting of the Board of Directors of the Millennium Challenge Account (MCA-Côte d’Ivoire) was held on Tuesday, November 06, 2018, at the TIAMA Hotel, under the chairmanship of Mr. Patrick ACHI, Secretary General of the Presidency of the Republic of Côte d’Ivoire. The Chairman of the Board, Mr Patrick ACHI, opened the meeting by welcoming the members of the Board of Directors and thanking them for their effective presence. The meeting continued with the presentation of the new Director General of MCA-Côte d’Ivoire, Ms. Florence RAJAN-HAUDEBERT, selected through a rigorous, competitive and transparent selection process. Ms. RAJAN-HAUDEBERT…

Mauritania is in advanced discussion with consortium formed by Singaporean Olam and local ARISES Mauritanie-SA for the financing, construction and operation of a container terminal and oil jetty at Port Autonome Nouakchott . The concession covers a period of 30 years, with an investment of $ 390 million and the creation of 500 permanent jobs, according to a public document leaked by the press bearing the stamp of a “ministerial committee on PPPs” led by the prime minister and composed of 7 ministries. In response to these leaks, the Minister of Economy and Finance, Moctar Ould Djay, denies any agreement…

Is Mali finally to reconnect with the good times of cotton farming? The Sahelian country is forecasting a record cotton crop of 750 000 tonnes for 2018/19 due to higher than expected rainfall. This record taken by the Malian Chamber of Agriculture (APCAM), restores the country on the podium. As the leading producer of cotton in Africa, Mali is hard-pressed by Burkina Faso, much less fit because of the consequences of genetically modified crops. Burkina Faso, which lost its leading position in the sub-region in 2017 for the benefit of its neighbor, produces an annual average of 600,000 tons of…

The first African high-speed line (LGV), which will connect Tangier to Casablanca via Rabat, Morocco, will be inaugurated on November 15, in the presence of King Mohammed VI of Morocco and French President Emmanuel. Macron. With the TGV, the trip between Tangier and Rabat falls at 1h 20 minutes against 3h40 minutes today. The total journey, from Tangier to Casablanca, will last 2 hours 10 minutes with the new TGV, against 5 hours before. Launched in 2007 in the presence of the King of Morocco, Mohammed VI, and Nicolas Sarkozy, the project did not really start until 2011. If the…

West Africa Rating Agency (WARA) announces that the financial rating mission of the Senegal Electricity Company (SENELEC) started on October 26th, at the end of the bidding process by which WARA was selected under for the year 2018-2019. SENELEC had indeed called for tenders in accordance with the texts of the Central Directorate of Public Procurement (DCMP). The methodology that WARA will use for SENELEC’s rating is the rating methodology for public-sector industrial and commercial companies, published on July 15, 2012, and updated in August 2018. The sources of information that will be used by WARA to conduct SENELEC’s rating…

On the sidelines of the Africa Investment Forum, the African Development Bank and Africa50 signed on November 7, 2018, an agreement with the Democratic Republic of Congo and the Republic of Congo on the development and financing of the first railway bridge. road project linking their capitals – Kinshasa and Brazzaville. Under the framework agreement, the two governments mandated Africa50 and the African Development Bank to develop the project as a public-private partnership. This bank will be the debt provider under the aegis of the Economic Community of Central African States. As lead developer, Africa50 will lead the development of…

Wilderness Safaris, a leading eco-safari company and environmental organization in southern Africa, has opened the doors of its Serra Cafema camp in the most northwestern region of Namibia after the construction of a new building more respectful of the environment. The camp is part of a joint venture and has been designed with respect for the culture and traditions of the Himba people. Serra Cafema, thanks to its location in one of the most remote areas of southern Africa, on an island located on the banks of the Kunene River in the Hartmann Valley, allows guests to experience unique experiences…