Author: Editor

The project to locate Cevital on Peugeot (PSA) sites in Charleville-Mezieres (Ardennes) will be operational end of 2019 and will result in the creation of 1,000 direct jobs, said Wednesday the CEO of the Algerian group Issad Rebrab. The Algerian diversified group, and the main private group of the country, will manufacture machines for water treatment, he said during a visit on site of Emmanuel Macron, on the fourth day of “roaming” “Memorial and political head of state in eastern and northern France. The plant is composed of three industrial units, one for the manufacture of membranes and ultra pure…

A political and inflationary decision according to the experts. Under pressure from the union, including the Nigeria Labor Congress, President Muhammadu Buhari, 75, is about to approve a report on raising the minimum wage to 30,000 naira, or 83 dollars or 44,500 CFA. The problem, the majority of citizens of this country, employed by the informal sector, should not, a priori, benefit from the measure. This 66% increase over the current minimum wage (81,000 naira) would be justified more by the proximity of the presidential elections than by macroeconomic considerations. President Muhammadu Buhari is running for his own presidential election…

While non-life insurance remains the driving force of activity in Africa, in the world it is rather the life branch that generates the results. This can be seen from the results of the Axa group for the first 9 months of the current year. Thus, revenues, up 3.7%, are mainly driven by life insurance, retirement, savings and health. The French group, number two insurance in Europe after Allianz, said in a statement that its turnover amounted to 75.8 billion euros at the end of September against 75.37 billion a year earlier; which represents 44 times the results of all the…

At AfricaCom, Orange presents its latest innovations to democratise access to smartphones, encourage e-education and support the startup ecosystem Democratise access to digital In the field of telephony as in many others, Africa has jumped a technological step by moving directly to mobile. The outlook of the smartphone market is still seeing exponential growth. It is estimated that at least 660 million Africans (against 336 million in 2016) will be equipped with a smartphone by 20201. This breakthrough can be explained by several factors, led largely because Orange is fully mobile: it has established mobile payment services (via the Orange…

The second Steering Committee Meeting for the AU-ECA-AfDB African Land Policy Centre (ALPC) for 2018 was held at the African Union headquarters on 09 November 2018. Chairing the meeting, Mr. Godfrey Bahiigwa, Director of the Directorate of Rural Economy and Agriculture (DREA), AUC noted the critical role played by ALPC in coordinating the implementation of the AU Agenda on Land, noting that “it is easy for AUC to report to AU organs on progress made, because the ALPC provides timely reports and updates to the Commission.” He encouraged Members and observers support and collaborate with ALPC, given its role in…

France has just granted 24 million euros to the Central African Republic. This aid, which will be followed by a delivery of arms, is intended to pay back the salaries of the administration and, above all, to counteract the growing influence of Russia in the old Oubangui Chari. France wishes to continue its historic partnership with the Central African Republic, “Foreign Minister Jean-Yves Le Drian announced in Bangui on 1 November 2018, on the sidelines of a 24-hour express visit. A quick visit that will have been used to measure the loss of real influence of Paris both in the…

While Chad’s GDP increased from 220.8 dollars in 2002 to 660.2 in 2005, there has been no economic and social transformation since the discovery of black gold, according to two reports from the Bank. world. The two documents entitled “How can Chad get out of the maze of growth?” And “Chad: Fostering export diversification to stimulate growth”, propose possible actions in the short and medium term, to accelerate the transformation of the pats economy, said Francois Nankobogo, World Bank Resident Representative in Chad. Both reports indicate that higher oil revenues during the 2000s have not been used optimally to improve…

The Ivorian Minister of Petroleum, Energy and Renewable Energies, Thierry Tanoh, wants to connect 5000 localities at the end of 2018. “The President of the Republic has promised the electrification of villages with more than 500 inhabitants in 2020. At the end of 2017, we were 4,600 localized electrified out of 8,000. I think that at the end of this year, we will exceed 5,000 and we should be in 2020, within the deadlines set by the President of the Republic, “assured Minister Thierry Tanoh. A big obstacle remains, however, acknowledged the minister. This is resource mobilization, which is still…

As we wrote, the Gabonese Development Bank is in liquidation. The temporary administrator, Steeve Saurel Legnongo, has until December 31 to close this painful file. Contacted by Financial Afrik, the Associate Audit & Council of Parthenon Finance did not want to comment. According to our information, the potential buyers announced a few months back, discouraged by the level of liabilities. The Gabonese government had in particular contacted the Moroccan BMCE Bank Of Africa without success. The BGD should be liquidated by December 31st. A page in the financial history of Gabon is turning. And with it, hundreds of jobs.

The Central Bank of Kenya has offered dollars directly to banks on the foreign exchange market to support the weakened shilling against the dollar. The central bank also absorbed 5 billion shillings ($ 49.21 million) of money market surplus cash through buy-sell agreements, which also provided support for the local currency. Tensions on Kenya’s national currency came on the heels of an IMF report released on October 23, 2018, pointing to a low-to-moderate past default risk. In this note, the IMF noted that the high level of debt, combined with the increasing use of non-concessional borrowing, has increased budget vulnerabilities…

And if the short sentence of President Alassane Ouattara on Saf Cacao, pronounced on September 25, on the sidelines of the forum of the Ivorian employers, was the drop of water too much? As a reminder, the Ivorian president said: “Everyone says that for Saf-Cacao, if there are no special measures, there will be a bankruptcy of the banking system, it is not a question of what to do to arrange things in quotation marks for a company that has been mismanaged and has speculated. ” And President Ouattara continued: “I want to be very clear on this and say…

The Pan African Mutual Risk Management Organization (ARC) has welcomed the approval of the African Disaster Risk Financing Program (ADRF) by the African Development Bank (AfDB) ). Discussions to establish the ADRiFi Program as a mechanism to strengthen resilience and response to climate change and natural disasters in regional member countries were formalized in March 2017. Since then, the African Development Bank and the Pan-African Risk Management Mutual Institution have started to orchestrate, as part of the signed technical collaboration agreement, activities aimed at improving infrastructure and management policy. risks in Africa, as well as helping countries build resilience to…

The redistribution of land will be one of the main themes of the South African political debate in 2019. On 17 October in Empangeni, KwaZulu-Natal province, President Cyril Ramaphosa put the issue in historical perspective. . “” We write the story (…) we repair a historical injustice by returning their property to its legal owners “. According to a recent study by the government, black South Africans make up 79% of the population, but they directly own only 1.2% of the country’s rural land. Like the rest of the economy, agriculture remains largely in the hands of whites, who hold…

“Invictus informed us that the findings are positive and indicate oil and gas deposits in the region. The result communicated by Invictus is an exciting development for our country, “Zimbabwean President Emmerson Mnangagwa told the local press on November 1, 2018. Even more emphatic than its president, Winston Chitando, the Minister of Mines, described “the largest unexploited field in Africa.” And to hazard a figure, 200 km2, representing the surface of this deposit. However, it seems that the announcement was premature according to the statements of the firm itself, in response to the Australian authorities: “No discovery of oil or…

President Abdel Fattah Al Sissi’s Egypt is still expected to receive $ 2 billion from the IMF. The disbursement to be approved by the board of directors of the fund is part of the $ 12 billion program concluded in November 2016 for this country. The new envelope will bring disbursements to Egypt to $ 10 billion. During its tour of the country, in October 2018, the IMF noted an acceleration of growth to 5.3% and a drop in unemployment below the 10% threshold as well as a control of macroeconomic ratios. Remittances from diaspora funds combined with increased tourism…

The Association Financement Participatif Afrique et Mediterranee (FPAM) organizes an important forum on crowdfunding and participative financing on November 15, 2018 in Dakar. This meeting which is held under the general theme of “financial innovation for development” comes after the success of the first edition of the forum, held in Tunisia, on October 27 and 28, 2016, will be an opportunity to update on technological and regulatory advances in an expanding business. For Thameur Hemdane, founder of Afrikwity & Cofundy and co-chair of the FPAM network, initiator of the event, this forum will include the state of the art of…

In Morocco, microcredit organizations can now grant up to 150,000 dirhams (15,000 euros) loan against 50,000 dirhams (5,000 euros) previously. This measure described in the bill n ° 85-18 modifying the law n ° 18.97 relating to the microcredit, was presented in council of government by the secretary general of the government on behalf of the minister of the Economy and Finances, Mohamed Benchaaboun . The new law, inscribed in the Finance Act 2019, emanates from the 12 proposals of the Moroccan confederation of TPE-SME addressed to the head of the government. The employers’ organization had asked, among other things,…

The unfortunate candidate in the presidential election of August 2016, Jean Ping, addressed Saturday from his residence in Libreville, through a speech to the nation. Cantoned under house arrest for several months; he proclaimed himself the winner of the last presidential election and invited the Gabonese to mobilize. Without commenting on the news Gabon strongly tainted by the news of hospitalization on October 24 in Riyadh, Saudi Arabia, President Ali Bongo Ondimba, the President of the High Council of the Resistance (UNHCR-Opposition) and unfortunate candidate of the Presidential election of August 31, 2016, mainly said Saturday at his home that…

The decision comes into effect as of January 1, 2019. An advanced motive, the persistence of slavery in this country of West Africa on the edge of the Maghreb. Known as AGOA for the African Growth Opportunities Act, the US measure allowed certain African countries fulfilling certain conditions (democracy, human rights and the business environment), to export local products to America free of all customs duties. The initiative was launched in the year 2000. Mauritania will have to wait until the democratic transition of 2007 to access it while remaining under surveillance on the sensitive issue of slavery. Abolished in…

With a 6% growth in revenue to CFAF 4 659 million (7.11 million euros) in the first half of 2018, Bank Of Africa Mali (BOA-Mali) maintained its upward trend. The Bank has experienced the current trends in the sector, namely shrinking interest margin and strong competition. Hence the contraction of the order of 4% of the BNP of the Malian subsidiary of BMCE Bank Of Africa, from CFAF 15 billion at the end of June 2017 to 14, 4 billion FCFA at June 30, 2018. This downward trend is still more pronounced at the level of the gross operating result,…

On the menu of this summit of the Union of Maghreb Banks (UBM) scheduled for 7 and 8 November in Tunis, topics on the bank of tomorrow and digitalization. The official theme, “Evolution of Banking: Challenges and Prospects for Maghreb Banks” reflects the concerns of central Maghreb authorities regarding the necessary regulatory changes and the transformation of the traditional bank. The supervision of new services thanks to Big Data, Blockchain, AI, and other innovations will be on the menu of this 14th General Assembly. The banking summit will see the participation of the central banks of Morocco, Tunisia, Algeria, Libya…

By Mohamed Ba, special correspondence. The meeting was held in a large hall of the Saint Michel district in Cotonou. It was in a packed enclosure, in the presence of Honorary Consul Ibrahim SOW and senior leaders of the RPA and the Benno Bobkk Yakkar coalition, that the Honorable Seybatou AW, MP for the West Africa Diaspora, is welcomed in sounds and rhythm this afternoon of October 31, 2018. Even the torrid heat that has swept through Cotonou today could not be enough to mobilize the activists and supporters of the RPA and the Benno Bokk Yakaar coalition. In his…

The Regional Fund for Mortgage Refinancing (CRRH-UEMOA) issues its 8th public bond issue on the regional financial market. The peculiarity of this operation is that it is issued in 2 tranches, according to the following denominations: “CRRH-UEMOA 5,95% 2018-2030” for 25 billion Fcfa and “CRRH-UEMOA 6,05% 2018-2033” for 5 billion Fcfa. With a total indicative amount of CFAF 30 billion, the proceeds of this loan will be used, by the CRRH-UEMOA, for its housing loan refinancing operations in favor of seven (07) shareholder banks having previously indicated their need and whose files were studied and approved by the Commitments Committee…

The products of the soil had the honor, this 2 November 2018, on the esplanade of the Monument of the African Renaissance on the occasion of the opening of the Salon Samasen. The goal is to focus on the products “Made In Senegal”, says Amina Thiam, the promoter of the event and presidency of the agency Atcom. Note the strong presence of local structures such as SONES, CBAO, and various promoters of local products in food, decoration and textile clothing. The presence of the Union of traders of Senegal, Unacois Yessal, through its general manager, Alla Dieng, testifies to the…

Enko Capital has invested in Nigeria Mortgage Bank Mortgage Bank Ltd. (IHMB) through the Africa Private Equity Fund (“EAPEF”). This is the fifth investment for EAPEF, which supports the IHMB expansion strategy in Nigeria. The investment will be used to increase the capital of the IHMB to increase its loan portfolio and improve its operational performance and efficiency through the participation of EAPEF in the strategic direction of the company at the level of the Board of Directors. ‘administration. ECM Director Ralph Gilchrist, who led the transaction on behalf of the investor, said, “EAPEF is delighted to team up with…

By Daniel Aggre, SIKA ADVISORY Abidjan. The downward trend observed since the 2nd quarter of 2018 continued in the 3rd quarter. During this quarter, the BRVM Composite index fell by almost 13%. This downward trend does not seem specific to our market. Indeed, this is a trend observed in the majority of the markets comprising the MSCI index of the EMERGING and FRONTIER countries of which we are part. When we analyze African markets, (for example, image 1, on the cover), the Kenyan (red), Nigerian (blue), BRVM (dark blue) and the MSCI Emerging Market (red Bordeaux) markets us. The Nigerian…

The African Development Bank (AfDB) and the African Insurance Agency for Trade (ATI) announce the signing of a US $ 500 million credit insurance contract structured to cover part of the portfolio. non-sovereign operations of the Bank in Africa. This transaction covers approximately 22% of the $ 2.3 billion of the Bank’s non-sovereign commitment portfolio. The Pan African Bank thus covers itself against non-payment of loans from about 30 financial institutions. Which, in principle, should release enough capital to create nearly US $ 500 million of leeway for the new loan. While ATI will be the direct insurer of the…

Despite a beautiful hand reserved for sub-Saharan Africa in its latest edition of the Doing Business 2019 report, the World Bank indicating a new record with 314 reforms in 128 economies, Guinea has won only one place, rising from 153rd to 152nd out of 190 countries. With forty of the sub-Saharan economies having completed 107 reforms, Guinea has implemented five reforms that have led to this growth, albeit a timid one, whose weak progress can be explained by the level of efficiency and the impact of the reforms. reforms carried out. For example, Togo has carried out six reforms and…

Meeting on November 1, the Board of Directors of Banque Centrale Populaire endorsed the appointment of Mohamed Karim Mounir as CEO. The new CEO was installed on the sidelines of a ceremony chaired by his predecessor and current Minister of Economy and Finance, Mohamed Benchaaboun. The opportunity for the latter to congratulate the newcomer for the royal trust placed in him and to say reassured about the development prospects of the institution. Officiant at the BCP since 1997, Mohamed Karim Mounir is laureate of the Mohammadia School of Engineers of Rabat (super major of the class of 1982) and the…

On 8 November 2018, Bolloré Transport 8 Logistics won the golden trophy for the best port, airport and railways infrastructure project at the second edition of the AIFA (Africa Investments Forum & Awards). The jury singled out the Sitarail project for its rote in the Iogistic transformation of the African continent and its significant potential for development. Eric Melet, Chief Development Officer of Bolloré Transport & Logistics and CEO of Bolloré Railways, was present at the awards ceremony, held at the Pavillon d’Armenonville in Paris. First organised in 2017, the AIFA brings together public and private players working in sectors…