Author: Editor

Atlantic Microfinance For Africa (AMIFA), subsidiary of the BCP Group, and International Finance Corporation (IFC), a member of the World Bank Group, concluded on Wednesday, October 24, 2018, a partnership for an assistance and consulting agreement with a total budget of $ 1.4 million. On this occasion, a signing ceremony was held at the headquarters of the BCP between Mr. Kamal MOKDAD, General Manager in charge of International within the BCP group, and Mr. Riadh NAOUAR, IFC Manager in charge of Financial Sector Advisory Services for the Middle East and Africa region. This agreement will enable AMIFA to strengthen, in…

The Senegalese Water (Sde) is no longer in charge of the production and distribution of drinking water in urban and peri-urban Senegal. The Eranove subsidiary, which has been managing this lease contract since 1996, has been ousted by Suez as part of an international call for bids. The allocation notified on October 23 by a provisional opinion of the Ministry of Hydraulics and Sanitation opens a period of negotiations between this group and the State of Senegal. For its part, SDE intends to appeal within 5 days. The other unfortunate bidder, Veolia, already fired in Gabon, abstains for the moment…

By Mohamed KADERGUELI, CEO Sahel Investment Partners The purpose of this article is to analyze, in the African context, the Diaspora Bonds (Diaspora Bonds) as an innovative instrument for financing development, fiscal stabilization and balance of payments support. Since 2014, the fall in commodity prices on world markets has highlighted the structural weakness of African economies. It weighed on current and government revenue as well as national currencies, and created inflationary pressures. In addition, the recession of industrial economies reduces the exports of African economies, limits direct investment and increases risks. Africa had the lowest growth rate of the…

The Africa Trade Forum 2018, hosted by Nigeria’s Ministry of Industry, Trade and Investment, and co-organised by the United Nations Economic Commission for Africa (ECA), The Rockefeller Foundation, and the African Union Commission (AUC), is set to take place on 2-3 November, 2018 in Lagos. The Forum will bring together stakeholders from across the continent, from political and governance spheres, the private sector and entrepreneurs, philanthropies, academia, researchers, and development partners, to discuss the process for realizing the African Continental Free Trade Area (AfCFTA). The AfCFTA was signed in March 2018 by 44 African countries and, if ratified, will become…

The Republic of Seychelles has launched the world’s first sovereign blue bond-a pioneering financial instrument designed to support sustainable marine and fisheries projects. The bond, which raised US$15 million from international investors, demonstrates the potential for countries to harness capital markets for financing the sustainable use of marine resources. The World Bank assisted in developing the blue bond and reaching out to the three investors:Calvert Impact Capital, Nuveen, and Prudential. “We are honored to be the first nation to pioneer such a novel financing instrument. The blue bond, which is part of an initiative that combines public and private investment to mobilize…

The Federation of National Associations of Charter Brokers and Maritime Agents (FONASBA) held, on Friday, October 19, 2018 in the city of Cancún in Mexico, its Annual General Meeting. At the end of this meeting Mr. Aziz Mantrach, was elected president of the federation for the next three years (2018-2021). FONASBA has been working since 1969, supervising the profession and defending the interests of international shipping agents. The Federation of National Associations of Charter Brokers and Maritime Agents (FONASBA) held, on Friday, October 19, 2018 in the city of Cancún in Mexico, its Annual General Meeting. At the end of…

Chicago IL USA – Impact fund manager Equator Capital Partners LLC announced the first investment from its new ShoreCap III, LP fund in MFS Africa. MFS Africa is a leading PanAfrican fintech company, operating the largest digital payments “hub” on the continent. The MFS Hub is connected to over 170 million mobile wallets in Sub-Saharan Africa, offering exceptional reach for financial services providers. Investment terms were not disclosed. Financial technology applications by Microfinance and Micro insurance companies, SME Banks, leasing companies, and housing finance companies give rise to a strong set of new investment opportunities across the continent. Franklin Kennedy,…

The Government of Seychelles committed today at the Our Ocean Conference 2018 in Bali to host the International Secretariat of the Fisheries Transparency Initiative (FiTI), starting April 2019.   The 5th Our Ocean Conference, hosted by the Government of the Republic of Indonesia, brought together more than 5,000 participants from countries across the globe, including governments, commercial sectors, financing entities, scientific communities, civil society organizations, and young leaders. The Fisheries Transparency Initiative (FiTI) is a global multi-stakeholder initiative which increases transparency and participation for a more sustainable management of marine fisheries. Through its global standard, the FiTI sets clear requirements of…

By Nassrallah Belkhayate, reporter Covering an area of ​​53,789 km2, or 7.6% of Moroccan territory, the Souss Massa region is home to two prefectures, four provinces, 154 rural communes and 21 municipalities. Its population is 2,676,847. The region has many natural resources, including fertile land, large forest areas (argan, cedar, oak, etc.), fish reserves, attractive tourist sites and mineral deposits (silver, manganese, barite, iron and gold ). “Despite a dry climate, reads in – the Conjoncture -, one of the main economic sectors of the region is agriculture which totals a useful surface of 616 500 hectares of which 30%…

The Francoreal Real Estate Investment Summit was held on Tuesday 16 and Wednesday, October 17, 2018 in Dakar, at the Radisson Blu, on the theme of “developing real estate investment opportunities in French-speaking Africa”. Victor NDIAYE, president and founder of Performances Group, opened the summit with a keynote speech on Emergence and Urban Development. Its message has, from the beginning, been clear: urbanization is not a consequence of development, but rather an accelerator of emergence. Mr. NDIAYE, in fact, took the example of Singapore, city-state that, by optimizing its urbanization, has become one of the flags of emergence. Singapore is…

The Impact Investment Group dedicated to the African continent, Investors & Partners (I & P) led by Jean Michel Severino, organized for the first time its annual Investor and Entrepreneur Meetings in Africa. Held in Abidjan on 19 October, this event highlighted I & P’s Africanization, particularly through the growth of its teams, ambitious recruitment targets in all countries of operation and the creation of five new funds. impact in sub-Saharan Africa in the next 5 years. A TEAM OF 50 PROFESSIONALS DISTRIBUTED ON 8 SITES OF WHICH 7 IN AFRICA Pioneering group of impact investment in Africa, I &…

Capital flows to emerging markets (excluding China) slowed sharply in 2018, driven by rising interest rates, the strong US dollar and trade tensions, S & P Emergents said in a report of 19 October. In this report, the agency points to three key trends: 1- Foreign capital flows to emerging markets are likely to be affected by the tightening of monetary policy in the major advanced economies. These flows are likely to decline further and become more volatile over the next two years. 2- Emerging European economies are more exposed than those in other regions to the risk of tightening…

The application period for the Fintech Projects Competition “BRVM Fintech Innovation Challenge” expired on October 17th. This initiative, which aims to select talent initiators of innovative projects that will benefit from support to implement their projects in its laboratory “BRVM Fintech Lab” was launched on September 18, 2018. At the end of this period, the BRVM announced that thirty-five (35) applications were registered. These files will be carefully scrutinized and scrutinized by a panel of experts to pre-screen innovative projects that have the potential to contribute to real business challenges in the financial services sector in the sub-sector. region. Holders…

The end of the contract between Libreville Airport (ADL) and the Gabonese state had been expected for several months. This is now done in what, according to some observers, is described as a new illustration of economic nationalism in Ali Bongo. Less prosaic, other sources speak of the continuation of the “olamization” of the Gabonese economy. In the meantime, the ADL General Manager, Daniel Lefebvre, has just confirmed, after more than 30 years spent serving 21 million passengers who have transited at Libreville airport, the company signs its withdrawal. The transition from the management of the Libreville airport to the…

In the wake of the recent election of Louise Mushikiwabo at the head of the OIF, the event was expected: the Rwandan Presidency has proceeded Friday, in the evening, to a reshuffle of his government after the appointment of the Minister of Foreign Affairs from Rwanda to the post of Secretary General of La Francophonie. Present in Parliament at the swearing-in ceremony of new cabinet members and other senior government officials, the Head of State reminded that “build the country, achieve the goals of socio-economic transformation and improve life citizens is a daily task that requires unwavering commitment. ” In…

An exhibition of Algerian products under the sign of the conquest of the Mauritanian and West African market, will be organized at the former International Conference Center of Nouakchott (CICN-Palais des Congrès) from 23 to 29 October, announces a statement from the organizers distributed to the press Friday night. The official kickoff of this event will be given in the presence of the Mauritanian Minister of Commerce, Industry and Tourism, Khadijettou mint MBareck Fall, and his Algerian counterpart, Said Djellab. Some 170 exhibitors, 3 times more than the previous edition, organized in 2017, will be present in the Mauritanian capital.…

Africa’s leading private sector institutions and corporates have established a Pan-African Private Sector Trade and Investment Committee (PAFTRAC) to serve as an advocacy platform to support the implementation of the African Continental Free Trade Area (AfCFTA) and enhance African private sector participation in trade and investment policy formulation, including trade negotiations. A communique issued in Addis Ababa on 19 October 2018, at the end of a meeting co-hosted by the African Export-Import Bank (Afreximbank) and the African Union Commission, said that PAFTRAC would enhance African private sector participation and galvanize the views of the African private sector, mainstreaming them into trade and…

Mali and Côte d’Ivoire benefit from a context of favorable financial aid to develop educational projects, while the UN has made school for all one of the pillars of its 2030 Agenda for Sustainable Development . Multiple initiatives – such as the Education Development Center (EDC) project in Mali, or the distribution of school kits and classes by the Orange Foundation and Dominique Ouattara in Côte d’Ivoire – are emerging in sub-Saharan Africa. Last February, the UNESCO Institute for Statistics (UIS) revealed that in sub-Saharan Africa, one out of every three young people is out of school – the world…

Opinions are divided in France, the day after the election of Rwandan Louise Mushikiwabo at the head of the International Organization of La Francophonie (OIF) at the end of the Summit of Heads of State held in Yerevan , in Armenia, on October 12th. As expected, the one that succeeded the Canadian MIchaëlle Jean, did not unanimous consensus where a consensus appointment in camera in Yerevan. Rwandan Minister of Foreign Affairs, Mushikiwabo has been the subject of many criticisms that point to the few cases that Rwanda would make of fundamental rights and the defense of French. His candidacy, supported…

The Moroccan group Banque Centrale Populaire (BCP) is finalizing the acquisition from Groupe BPCE of the Banque des Mascareignes in Mauritius after obtaining all regulatory approvals. On this occasion, an official ceremony was held this Tuesday, October 16, at the headquarters of the Mascarene Bank in Ebene (Mauritius), in the presence of Mr. Kamal MOKDAD, General Manager of the BCP group in charge of International, and Mr. Abdelwafi ATIF, next Director General of the Mascarene Bank. BCP Group is the sixth largest banking group in Africa by the size of equity and banking leader in Morocco. It is present in…

The $ 40 new tax announced in The Gambia will come into force on January 15, 2019, and applies to all passengers traveling to and from Banjul Airport. This intention of the authorities is part of the measures introduced by the government of President Adama Barrow to finance the contract for the provision of security and immigration services and the management of electronic visas. The fees will also cover the training of airport security officers and the maintenance of the system. According to the authorities, this measure will make it possible to very quickly modernize the filtering system for travelers…

After the success of the first edition in Paris, the 2d PPP Africa Forum will be held on November 12 and 13, 2018 at the Sofitel Hotel in Casablanca (Morocco), under the theme: “Promoting Agriculture and Information Technologies” and communication (ICT) in Africa through Public-Private Partnerships (PPP) “. Africa is facing the major challenges created by unprecedented urbanization, strong demographics with a predominantly young population, sustained economic growth for a decade, and an emerging and challenging middle class. At the same time, the scarcity of public financial resources makes it difficult to implement viable development policies based on quality infrastructure.…

The South African head of state is accused by his country’s press of having been made aware of the irregularities of the VBS Mutual since 2017 and of having done nothing to stop the bleeding. Vice-president of the African National Congress (ANC, party in power in South Africa) at the time of the facts, Cyril Ramaphosa would have closed his eyes to defend his private interests. The case makes a lot of noise. One of the first billionaires of the post-Apartheid era, now propelled to the helm of the country, vehemently denies. If his name does not appear in the…

SANLAM EMERGING MARKETS IRELAND, SAHAM FINANCES, SAHAM INSURANCE and SAHAM FINANCES PARTICIPATIONS, acting in concert, filed with the Moroccan Capital Markets Authority (AMMC) on October 12, 2018, a proposal for takeover bid for SAHAM ASSURANCE shares. This offer will be exercised In accordance with Article 28 of Law 26-03 on public offerings on the stock market. As a consequence of this filing, the AMMC asked the Casablanca Stock Exchange to suspend the listing of SAHAM ASSURANCE shares as of October 15th. This proposed takeover bid was made following the acquisition by SEM IRELAND of 100% of the share capital…

This is one of the major conclusions heard in court this October 15 in the long record of liquidation of the first refinery in Morocco. The prosecution demands the extension of the liquidation of the Samir to the patrimony of the members of the board of directors, who represent 73% of the shareholding. The Moroccan refinery ceased operation since 2015 is majority owned by Corral Holding Saudi Mohammed Hussein Al Amoudi. After 11 months of hearing, the verdict should fall. The prosecutor’s harsh indictment of “fictitious dividend distributions” and “irregular accounting” speaks volumes about the complexity of the case, which…

Ghana will join the 37 countries of the world that have already issued green bonds. The objective of these bond issues will be to finance the fight against the effects of climate change through the implementation of environmentally friendly projects. The “First National Bank” should be put to use, according to the approach of the Ghana Ministry of Finance to “issue sustainable, ecological and socially responsible bonds with the aim of developing innovative solutions to finance projects with social and environmental impact positive on Ghana’s economy » The long-term challenge for Ghana, according to the officials, is to accelerate the…

The contemporary discourse on migration has become emotional and devoid of rationality. It suggests in aging countries that population movements around the world will have a negative effect on them. The financial cost of receiving migrants and their integration is among the arguments often put forward to justify policies to limit migration flows – including legal migration. Currently, 3.4% of the world’s population lives in a country other than the country of origin. Between 2000 and 2017, a 49% increase in movements was recorded – and this increase will not slow anytime soon for several reasons. Firstly because half of…

Tony O. Elumelu: “In just four years, we directly reached 4,460 entrepreneurs and we are starting to see the results.” The 4th annual Tony Elumelu Foundation (TEF), Africa’s leading philanthropic organization focused on entrepreneurship, will be held on October 25 in Lagos, Nigeria. A meeting that will bring together more than 5,000 entrepreneurs, global investors, leaders of the African public and private sectors and development organizations. An event considered as “a unique opportunity to generate ideas, create networks and bring together decision-makers and the private sector”, in a spirit of lively debate and interaction where “mentors and partners will be…

The mystery has deepened since the abduction of Tanzanian Mohamed Dewiji, the youngest African billionaire, gathered in the middle of Dar Es Salam, on October 11 at around 5 am by masked men. https://twitter.com/brightmasambu/status/1051820634160988160 Four days after the abduction, the family of the manufacturer promises 1 billion shillings ($ 437,000) to anyone who has new information that would lead to his rescue. Three telephone lines were opened to gather information on the abduction of the 43-year-old owner of the MeTL group. Tanzanian police arrested 26 people in connection with the abduction. The Tanzanians remain very mobilized for this affair which…

The Standard and Poor’s agency maintains Morocco’s rating for “BBB-” in the long run, but with a perspective that goes from “stable” to “negative”. The kingdom should improve its financial situation within 24 months at the risk of losing the so-called investment grade. In its report of October 5, 2018, the agency said Morocco has moved away from its target of a budget deficit of less than 3% due to growth less strong than expected. The budget deficit stands at 3.8% this year and the current account deficit of the balance of payments at 4.2% of GDP. Real GDP growth…