Author: Editor

The prosecutor’s office on Friday ordered the confiscation of 250 million euros against the oil group Total, tried for corruption of foreign public officials on the sidelines of the conclusion of contracts in Iran in 1997. In addition to this confiscation by the State, by way of additional penalty, the alleged proceeds of the offense, he also asked for a fine of 750,000 euros, the maximum incurred by a legal person in this type of case. The judgment was reserved on December 21st. Total is believed to have paid some $ 30 million in bribes between 2000 and 2004 under…

As a reference organization for training and certification of professionals in the sector in Africa, CAVIE organized an international seminar on strategic intelligence and economic intelligence specific to African markets from 9 to 12 October 2018 in Ouagadougou. 35 Sankara promo professionals have been certified. On the initiative of Honoré Kietyeta, Representative of CAVIE Burkina, the session held in the capital of Burkina Faso from 9 to 12 October 2018 saw the participation of 35 professionals from Burkina Faso, Côte d’Ivoire, Togo, Senegal and La France. Public and private actors from the state administration, banks, telecoms, mines, media and investment…

Sunu Assurance and the Unacois Yessal network (group of merchants of Senegal) will sign an important agreement on Tuesday November 6th, 2018. The objective is to market the “Xodeeku” package to take care of the following aspects: savings, disability, death, fire and repatriation of bodies. The product targets resident traders in Senegal and the diaspora. The pooling of these different components makes it possible to smooth out the fire risk of the markets while covering aspects related to the daily lives of traders and auto-entrepreneurs. The Unacois Yeessal network of more than 120,000 merchants offers its affiliates an opportunity to…

Politically Exposed Persons (PEPs) are major risks for banks. The South African VBS Mutual Bank, recovering since March 2018, will have learned at his expense. The institution had granted former South African President Jacob Zuma a mortgage loan of 8.5 million rand (1 rand = 0.06 euros), at least nine months before signing the documents certifying the guarantee. of the loan. In September 2016, Zuma used this obligation to repay part of the public funds used in the refurbishment of its refurbishment. The Constitutional Court had then forced him to reimburse extraordinary expenses used in this renovation denounced by the…

By Eric Maniable and Maurel Tchouonla Noubi. Since 2012, life insurers in the CIMA zone have been required to use life tables built on data from the insured populations of the fourteen countries. They are supposed to reproduce the behavior of the insured in terms of mortality. These tables had a definite impact on life insurance product prices, provisioning and profitability. Six years after the introduction of these new tables, the Integr-All actuarial firm, based in Cameroon, studied the portfolio of a company in the CEMAC zone and assessed the differences and their impact on the solvency of the company.…

Saudi Arabia announced on Sunday that it would react to any “threat” against it, as its stock market collapsed following US President Donald Trump’s warning of “severe punishment” following the journalist Jamal Khashoggi, a contributor to the Washington Post, was murdered in the premises of the Saudi embassy in Turkey. The Riyadh Stock Exchange fell Sunday by 7% early in the session and following the threats of the US President. This is the biggest fall of the Saudi financial center since December 2014. Some 182 of its 186 registered shares have recorded losses in the early afternoon of Sunday. The…

The governor of Bank Al Maghrib (Central Bank of Morocco), Abdellatif Jouahri, was awarded Saturday in Bali (Indonesia) as one of the best central bank governors in the world and the best for the Middle East and Africa region. North (MENA), reports the Moroccan daily L’Economiste. The wali of the central bank won the two distinctions awarded respectively by the American magazine Global Finance and the Global Markets newspaper, during a ceremony organized in conjunction with the annual meetings of the World Bank and the International Monetary Fund (BM-IMF ). Jouahri earned the “A” rating, the highest honor awarded, according…

Following the receipt of the necessary regulatory approvals, Wendel announced that it has finalized the sale of its stake in Saham Group. This transaction generated a net cash position of $ 155 million for Wendel. Remember that five years ago, Wendel had invested 100 million euros in the insurer. In five years, the capital gain generated is approaching 50 million euros. Wendel also has a right to 13.3% of capital gains realized in the event of the sale by Saham of the other activities of the Group (Customer Relationship Centers, Real Estate, Health and Education) during the next 24 months,…

Not surprisingly, the union federation of mobile telephony workers (FESATEL) strongly protested this Friday, October 12 against the closure of the INTERCEL PLUS telephony company which it describes as brutal and “unilateral” and violating, according to her, the legal principles in the matter. The General Secretariat of FESATEL, which is concerned about the situation of more than a hundred employees of INTERCEL, denounced in a statement the violation of the regulatory deadline for the cessation of activities of an SA (ARPT), the the deadline set by the State being only 30 days. Considering that all remedies were not exhausted to…

The Executive Director of APEX-CI (Association of Exporters of Côte d’Ivoire), Guy Mbengue, has just been co-opted into the Consultative Committee of the International Trade Center (ITC) to support supporting institutions Trade and Investment (TISI). ITC’s Advisory Committee (ITC) is an independent body established to assist ITC in continuously improving the quality, relevance and effectiveness of the TISI Enhancement Program and all related activities. Committee members provide advice and strategic direction in the area of ​​institution building. The appointment of Guy Mbengue, who is also the president of the Network of UEMOA Trade Promotion Organizations (ROPC) and director of the…

All staff of the National Bank for Economic Development (BNDE) is currently in strategic retirement from 12 to 14 October 2018 under the chairmanship of the General Management accompanied by the Chairman of the Board of Directors of the BNDE, Mr. Mamoudou DEME . The program of this 4th annual edition includes several panels under the theme of strengthening the financing strategy for economic development and financial inclusion. The BNDE Team Building 2018 “BOLLO” has enabled, through its workshops, to evaluate the progress of the implementation of its Strategic Plan 2017 – 2021, to discuss the first challenges already identified,…

Jeffrey Sachs: “Africa should be a unified region politically and economically” Former Nigerian President Olusegun Obasanjo and Development Economist Jeffrey Sachs today in Bali, Indonesia, called for the creation of an African Education Fund at the second Babacar Ndiaye Conference in Bali held on October 13 in Bali, Indonesia. The two personalities, invited to the series of international conferences introduced by the African Export and Import Bank (Afreximbank) in 2017 to honor the late Dr. Babacar Ndiaye, said that such a fund would guarantee every child in Africa a quality education. “Africa needs to help all children stay in…

The cold war is raging between the shareholders of Viettel Cameroon S.A. The joint venture controlled by Vietnamese Viettel Global Investment Company to the tune of 70% and BestCam by promoter Baba Ahmadou Danpullo to 30% through a creeping crisis. The cause of unease, the intention of the influential Cameroonian billionaire to want to take control of the company operating the brand Nexttel by administrative and judicial maneuvers. Ahmadou Danpullo claims to his partners 98 billion FCFA corresponding to what he would have spent in procedures and various for the allocation of 2G and 3G licenses to Viettel. The request…

The 47th Assizes of Tsaghkadzor, in Armenia on the theme, “Media and Migration” formally closed on Thursday, 11 October with the adoption of a number of resolutions to deal more responsibly with issues related to migration. The participants considered that migration has always been part of history. And if they have been in the spotlight for a few decades, it is simply because the range of immigration has excessively branded the estimate of international migrants. According to statistics, there are about 25 million, or just under 3 percent of the world’s population. And 75% of this population works and contributes…

A month before his abduction in Dar es Salaam, Thursday, October 11 by hooded unknown, the youngest African billionaire had told Financial Afrik (See FA from September 15 to October 14) on its course and prospects. Interview by Szymon Jagiello, Financial Afrik’s European Affairs Correspondent. Could you tell us briefly how your company has developed since you joined it in 1999 to become this company which now weighs $ 1.5 billion? Mohammed Dewji: It was at the insistence of my father, who ran a business specializing in the import / export of raw materials and whose income was around $…

From our special envoy to Yerevan, Antoine Lawson The ballet of heads of state, which began on Thursday in Yerevan, where the 17th summit of the Francophonie will take place, on October 11 and 12, 2018, should end this Friday with the election, by consensus, of Louise Mushikiwabo supported by the France to the detriment of Canadian Michaëlle Jean. The 54 full members should, in fact, appoint the Rwandan general secretary of the organization for the next four years. Behind the scenes of the Summit of the International Organization of the Francophonie (OIF) and the assizes of the Union of…

The West African Development Bank (BOAD) will celebrate the 14th of November, its forty-fifth anniversary. This commemoration will be under the sign of reflection. Thus, on this occasion, a high-level forum will be held in Lomé, Togo and will be on the theme: “Solar energy in the economy of WAEMU countries: state of play, issues and policies”. This forum will review various issues related to the theme of renewable energies and particularly solar energy including: i) the state of play of the market and the ecosystem in connection with the strategies for the development of the solar energy in…

The man considered the youngest billionaire on the African continent, the Tanzanian businessman Mohammed Dewji, was kidnapped Thursday by gunmen in Dar es Salaam (Tanzania), official sources said. A 43-year-old METL Group leader in a dozen countries in the fields of agriculture, insurance, transport, logistics or agribusiness, Mr. Dewji was kidnapped while entering the gym of a hotel in the economic capital of the country, specified the administrative and police authorities. “The first information indicates that he was kidnapped by whites from two vehicles,” Dar es Salaam governor Paul Makonda told reporters, adding that “this type of incident is new.…

BESIX Group S.A., SIXCO (subsidiary of BESIX Group) and TGCC were awarded the design and construction of “Bank of Africa Tower”. It will culminate at 250 meters and can claim the title of the tallest tower in Morocco and Africa. On Thursday, October 4, 2018, in Dubai, BESIX, SIXCO and TGCC signed a contract for the design and construction of the “Bank of Africa Tower” developed by O TOWER, a subsidiary of the FinanceCom Group. CRCCI will continue to accompany the new winning group. The work will begin November 1, 2018 and will be delivered on May 30, 2022.…

At the end of the first half of 2018, the BGFI Bank Group’s net banking income rose by 4% to 102 billion CFAF *. This is apparent from the meeting of the group’s board of directors held on September 28 in Sao Tome under the chairmanship of Henri Claude Oyima. In a context of innovation and transformation of its service offering, the first commercial bank in the CEMAC * zone improved its financial solidity and confirmed the relevance of its model. Thus, the net result stands at 15 billion FCFA, up 6% compared to the first half of 2017. For…

The latest report of the Intergovernmental Panel on Climate Change (IPCC), published on Tuesday, October 8, 2018, warns of the need to do everything possible globally to limit global warming to 1.5 degrees. With such a base, this report even states conclusively that the consequences of such a warming would be severe for life on Earth as well as for the health of our economies. Occasion could not be better hoped to resume my pen of “think differently” to, through these few lines to question me on the relevance of the management of the environmental problem. Of course, we will…

From our special envoy to Tsaghkadzor, Antoine Lawson More than 270 participants, members of the International Union of Francophone Press (UPF), from 40 countries, are in conclave from 9 to 12 October in Tsaghkadzor, a town located about sixty kilometers from Yerevan, the Armenian capital, on the occasion of the 47th international meeting of the corporatist organization. Armenian UPF Section President and UPF International Treasurer Zara Nazarian, who worked for the success of this meeting on “Media and Migration”, thanked participants at this meeting. Before recalling that they “coincide with the Summit of La Francophonie”, whose theme is “Living together”.…

Mamoudou Ibra Kane, Alassane Samba Diop, Boubacar Diallo, aka Dj Boubs and Mamadou Ndiaye, associated with leading partners, launched on 8 September 2018, a multimedia press group called e-media Invest. This is an integrated media platform including an emedia.sn site, which switched on October 11 at midnight. The radio should follow shortly, according to the promoters. Ditto for TV. Men of media cumulating several years of services, the promoters are part of the most famous journalists and animators of Senegal.

Informal trade has taken off in the streets of Libreville, the capital of Gabon, in recent years and is a lucrative business that bursts several billion CFA francs per year, according to an estimate by the Ministry of Finance and Finance. Economy. In addition to escaping the control of the state, it disturbs the public authorities. The once-virtually informal sector did not really come into existence with rampant inflation that began in 1986. During the 1993-1995 period, prices had risen from 32.4 to 35.6% and in a smaller 1996. Informal trade has created waves of inflation spontaneously maintained by traders…

The delegations representing the four governments of Canada members of the International Organization of La Francophonie (OIF) went to Yerevan with a determination to promote the French language and preserve the fundamental values ​​that must be defended at all costs by the Francophonie. Fundamental values ​​such as the rule of law, respect for human rights, democracy and freedom of expression, which are cherished by Canadians, and which Canada is continually promoting in Canada. OIF. Before flying to Yerevan, where she participated in the Ministerial Conference of Francophonie (CMF), on October 8 and 9, the Canadian Minister of Tourism, Official…

The Mo Ibrahim Foundation (MIF) is pleased to announce the launch of the 12th annual Ibrahim Index of African Governance (IIAG), taking place on Monday 29 October 2018, when the results and analysis will be shared with the public at mo.ibrahim.foundation. To mark the launch, Dr Mo Ibrahim will participate in a Facebook Live event to discuss this year’s striking results and the trends measuring Africa’s public governance progress. Mo will be joined by a panel of African experts representing the continent’s growing next generation voices, Yvonne Apea Mensah from Ghana and Nasi Rwigema from South Africa, who will provide their…

The Air Senegal SA company following the defunct Air Senegal International (ASI), a joint venture with Royal Air Maroc, which went bankrupt in 2009 and Senegal Airlines (controlled by the State, which went bankrupt in 2016) will it meet with more merciful heavens? Under the direction of Philippe Bohn, former Africa director of the EADS group, the new company Air Sénégal SA launched on October 5, 2018 its first international flights, with Abidjan (Ivory Coast) and Cotonou (Benin) thanks to an Airbus A319 belonging to the aircraft charterer Avolon (Chinese conglomerate HNA). The lease of a second A319 will “make…

The Gabonese authorities can blow. The rating agency Fitch Rating has just reduced the perspective attached to the rating of the country from “negative” to “stable”. This is a positive prospect for strengthening the appreciation of the signature of this small oil country around “B”, common note to almost all countries in sub-Saharan Africa. According to Fitch Ratings, the Extended Credit Facility (MEDC), which the government has signed with the International Monetary Fund (IMF), has helped the country limit its cash flow. The agency also believes that the reforms initiated by the government are going in the right direction. “Following…

Bpifrance creates an Executive Direction of the Export. It groups together all insurance and export financing activities, as well as export development and support actions. “This continuum of solutions offers companies a unique and complete range of financial tools, to simplify their access to international markets and support them in their ambitions of setting up abroad,” reads a statement dated October 10 2018. Bpifrance offers a range of solutions for export that covers all the needs of a company wishing to develop internationally: International Growth Loan, Export Credit, Support for development or implementation (in partnership with the Team France Export,…

The great finance financier of South Africa, Nhlanhla Nene, may be targeted by an investigation for its proven links with the sultry family Gupta, the country’s public debt is still sought after. Despite uncertainties about the future of the Minister of Finance, authorized traders placed $ 7.04 billion ($ 485 million) in underwriting demand, nearly three times the 2.4 billion rand (166 million dollars) of securities offered for sale at the weekly Treasury auction held on Tuesday, according to data published by the Central Bank. An appetite for South African bond paper confirmed by Ashley Dickinson, head of fixed income…