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United Nations Secretary-General António Guterres has appointed Ms. Ahunna Eziakonwa of Nigeria as Assistant Administrator of the United Nations Development Program (UNDP), responsible for the Regional Office for Africa. Ms. Eziakonwa succeeds Mr. Abdoulaye Mar Dieye of Senegal, to whom the Secretary-General expresses his gratitude for the dedication and commitment he has shown to the Organization. Ms. Eziakonwa has several years of experience at the United Nations. Since 2015, she has been Resident Coordinator and Resident Representative of UNDP in Ethiopia (…). In New York, she also worked in the Department of Peacekeeping Operations and the Department of Public Information.…

After having starred in America by aligning four of its banks in the top 5 of the world’s most powerful banking institutions (S & P ranking), China has just broken a new record through one of its companies. Thus, Ant Financial (“the ant of the finance”, in English), which exploits Alipay’s online payment system and Alipay mobile launched in 2004, announced this Friday a fundraising of about 14 billion dollars, the largest ever by an unlisted company. This round of C series, in dollar and partly in yuan, brought together existing shareholders and new investors, sovereign and public funds, such…

Coris Bank International Benin proceeded on Tuesday 05 June 2018 to launch its Islamic window, CBI Baraka at the Azalaï hotel, in the presence of the Minister of State in charge of Planning and Development, Mr. Abdoulaye Bio Tchané, CEO of the Group Coris, Mr. Idrissa Nassa, Iman of the Central Mosque of Cotonou Cadjèhoun, Mr. Mohamed Ligali and several other guests. This opening, which comes after Senegal two weeks ago, is part of the bank’s innovation and diversification strategy. The CBI Baraka window is headed by Ms. Kahady Boye Hanne and offers a plethora of products compliant with…

The 18th General Assembly of the Agency for Insurance of Trade in Africa (ACA) is being held on June 27 and 28, 2018 in Abidjan, Côte d’Ivoire. The event will begin on Wednesday 27 June with the annual Round Table that will bring together representatives of African governments, investors, insurers and financial institutions to discuss possible solutions to increase access to finance by African industries. In the 2017 edition, the roundtable was attended by five finance ministers and a head of state from ACA member countries. The African Trade Insurance Agency (ACA) is a multilateral organization that provides insurance products…

The President of the Federal Republic of Nigeria, Muhammadu Buhari, conducts, on Sunday and Monday, June 10 and 11, 2018, a visit of friendship and official work to Morocco at the invitation of King Mohammed VI, announces a communiqué of the Ministry of the Royal House, Protocol and Chancery, published Saturday. . As part of this visit, King Mohammed VI will hold official talks with his host and will preside with him the ceremony of signing bilateral conventions between the two countries. In the middle of Ramadan (Muslim fasting), the visit will be marked by official Iftar (breaking fast)…

From November 8 to 10, 2018, Abidjan will be the world capital of processing raw cashew nuts. Côte d’Ivoire plans to repeat the success of the last two editions of the International Cashew Processing Equipment and Technology Exhibition (SIETTA). The thorny issue of youth employment in Africa invites itself to this economic and commercial meeting. As a matter of fact, “the cashew industry has enormous potential for creating jobs and even opportunities for wealth. If the 711,236 tons of raw nuts produced in 2017 in Côte d’Ivoire were transformed, at least 100,000 jobs would be generated “. Statement made on…

President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea (left) in handshake with Afreximbank President Dr. Benedict Oramah during the signing ceremony in Malabo   The African Export-Import Bank (Afreximbank) has welcomed Equatorial Guinea as its 50th member state with the country’s signing of the Instrument of Accession to the Bank’s Establishment Agreement in Malabo on Wednesday. Lucas Abaga Nchama, Minister of Finance, Economy and Planning of Equatorial Guinea, signed the Instrument on behalf of the Government during a ceremony witnessed by President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea and an Afreximbank delegation led by Bank President Dr. Benedict Oramah. Addressing the ceremony, Dr.…

Gabon, a small oil eldorado in Central Africa with a population of 1.8 million, has struggled to establish its democracy since 1990, the year of the introduction of multiparty politics. Thus, the national political life has been punctuated for several decades by the Democratic Party of Gabon (CEO-in power), created by the late Omar Bongo Ondimba, in 1968. The presidential election of August 2016 took place in a climate tense. The lack of inclusive national dialogue between the majority, the opposition and civil society puts the social process in harm’s way. The previous government of Prime Minister Issozet Ngondet had…

In 2017, Africa attracted only $ 42 billion, a decline of 21% compared to 2016. A stronger contraction in Southern Africa and Angola, but which does not spare Africa either Central and West Africa. According to the report of the United Nations Conference on Trade and Development (UNCTAD) on investment in the world in 2018, this drastic decline is linked to the lingering effects of the recession of the commodities sector. The document published Wednesday in Geneva also does not close the door to hope: “The beginnings of a restoration of commodity prices, as well as the progress in inter-regional…

The National Society of Transport and Logistics (SNTL) has a general manager in the person of Aziz Alami Gourefti, who succeeds Mohamed Ben Ouda. The appointment was validated by the Council of Government held Thursday, June 7, 2018 in Rabat. As a reminder, Alami is the former Director General of the Office of Fairs and Exhibitions of Casablanca (OFEC). The National Society of Transport and Logistics (SNTL) is a public limited company charged with providing, in the context of competition, freight forwarder services in the field of national and international freight transport.

Africa’s agribusiness and food sector registered strong private equity deal activity during May 2018, according to industry information service Africa Private Equity News. EXEO Capital announced a $6.4-million investment, through its Agri-Vie Fund II, into Capital Fisheries – a Zambian food company specialising in the cold-chain distribution of fish and other animal proteins. Capital Fisheries has an innovative business model of wholesaling frozen products from reconfigured shipping containers placed permanently at markets, small shopping centres and other areas where people congregate. Further north, the Yield Uganda Investment Fund, managed by Pearl Capital Partners, made its maiden investment in the East African country by committing about $421,000 to soy-processor…

The Sierra Leonean government will proceed with the upcoming review of its mining code adopted in 2009, as well as a review of all contracts signed with companies present in the country, according to official sources. “We need to review the conditions under which these licenses were granted,” Yusuf Keketoma Sandi, the presidential media secretary, told Reuters. Among the leading mining companies in Sierra Leone, Shandong Iron and Steel (China), owner of the Tonkolili iron ore project, or Koidu Holdings Ltd, a diamond producer controlled by BSG Resources, Sierra Minerals, owned by the Dutch industrial group Vimetco NV, which operates…

Patrons of mining companies working in the DRC and in disagreement with the DRC government on the new mining code have sent a note to President Joseph Kabila in which they threaten to bring the DRC to justice to claim damages following the losses it new mining code their cause. They warn that the Congolese government could lose in such a soap opera up to 3 billion US dollars in 10 years reveals the agency Bloomberg. The new mining code cancels the ten-year stability clause promised to companies in the event of a change in legislation, and that is what…

Placed the aegis of Ivorian Prime Minister Amadou Gon Coulibaly, a regional seminar on competitiveness in West Africa was held Thursday, May 31. Organized by the Chamber of Commerce and Industry of Côte d’Ivoire (CCI-CI) with the World Economic Forum (WEF), financial experts and business leaders from the public and private sectors have drawn up an inventory of fixtures. the business environment in the sub-region. Prospects were then identified. For the president of ICC-CI, “competitiveness can not be conceived independently of the broader sets that are the sub-region and, more generally, the African continent, continent of all hopes”. However, regrets…

Morose since April, the Kenyan financial market is pulled down by the massive disengagement of foreign institutional investors. A “frontier” market, the Nairobi Stock Exchange has two main characteristics attached to these financial centers in the making: significant growth potential and … a strong downward volatility. An erratic performance that investors positioned on Kenyan listed stocks rediscover, despite themselves: main index of Nairobi, the Nairobi All Share Index (NASI) begins its third consecutive month of decline since its highs in April. In May alone, it sold nearly 4%. A counter-performance that is nevertheless incommensurable with the defeat observed (-11%) over…

Societe Generale announced Monday it has agreed to pay fines totaling $ 1.34 billion to put an end to two lawsuits in the United States and France on charges of manipulation of the Libor interbank rate and corruption in Libya. Of this total, the French bank will pay respectively $ 275 million to the Department of Justice (DoJ) and $ 475 million to the US regulator of derivatives markets (CFTC) to close the dispute related to the manipulation of the interbank rate Libor. Societe Generale was one of the many banks mentioned in this vast deal on the interbank market…

The Agricultural Caravan, launched by the OCP Foundation, will be crisscrossing four regions of the country during the next agricultural season to complete the Ethiopian soils fertility map. This Caravan will strengthen the technical and scientific capacities of small farmers and agronomists of the Ministry of Agriculture and Livestock in Ethiopia, in terms of good agricultural practices focused on the reasoned fertilization of crops. More than 100,000 hectares will be mapped during the pilot phase of the project with more than 1,000 composite soil samples taken and analyzed. Addis Ababa, 1 June 2018. The Agricultural Caravan, launched by the OCP…

Claude Ayo-Iguendha, Director and CEO of the International Bank for Trade and Industry (BICIG), a subsidiary of the National Bank of Paris (BNP / Parisbas) died in Libreville Thursday. Claude Ayo-Iguendha was undoubtedly one of the most experienced bosses in the Gabonese banking sector. Which probably earned him the end of 2011, the presidency of the sovereign fund of the Gabonese Republic (FSRG), the former Sovereign Fund for future generations. Mr. Ayo has led several state-owned companies, from the now defunct national airline Air Gabon to the Gabonese Development Bank, and the National Trucking and Transit Company. Director-General of the…

This is the number of farmers that OCP School Lab will reach in its next stage, which starts on May 31 in Bauchi State, northern Nigeria. After accompanying more than 50,000 farmers in 6 countries of the continent, the Caravan, signed OCP Africa, this time targets one of the largest agricultural regions of the country. The caravan whose ambition is to bring agricultural technological innovations closer to farmers, will provide farmers in the region with recommendations on the use of fertilizers, training in good agricultural practices and educational materials. In addition, 3000 farmers will also benefit from soil analysis services…

By pierre Delval Fishing remains for billions of people around the world a major resource in terms of food, nutrition and livelihoods. Nearly 170 million tonnes of aquatic products have been harvested each year since 2015. In other words, every second 5400 kg of seafood is extracted from the oceans or in wild fisheries by 4.6 million vessels, or in aquaculture. The annual turnover of the sector represents about 218 billion dollars and confirms, despite the overexploitation of species, an upward trend. Experts, international organizations, companies in the sector, civil society, all underline the essential contribution that the oceans make.…

“PHOTOGRAPHER IS TO SEIZE THE REAL, IT IS NOT INVENTER IT” By Maria Nadolu This year, she celebrates 10 years since the release of her first photo “Fashion Week”. Andreea is known as a “front row and backstage photographer”; She covers from New York to Paris and Milan and her photos have been published by the classics, Vogue Paris, UK Elle, Harper’s Bazar UK. But, indeed, she is a storyteller in pictures, who likes to leave the categories fixistes. In search of authenticity, through her lenses, she surprises the human in its perpetual transformation, with its beauty and its shadows,…

The President of the Republic of Cameroon, Paul Biya, signed on May 24, 2018, a decree ratifying the loan agreement for an amount of 30 million euros (19 billion FCFA) expandable to 48.80 million euros. (approximately 32 billion CFA francs) between the Republic of Cameroon and BMCE Bank International PLC, a subsidiary of the Moroccan bank Bank Africa. The loan will be used to finance the rehabilitation of Roumdé Adjia de Garoua stadium, the construction of its annex stadium, and a four-star hotel in the city. This loan is timely for a country engaged in a race against time to…

Ecobank has increased its customer base by 40% in 2017 and aims to reach 100 million customers by the end of 2020. Ecobank was awarded two trophies at the prestigious African Banker ceremony held at the Paradise Hotel in Busan, South Korea. Impressed by the way Ecobank has leveraged digital financial services and an improved service model to establish itself as the retail bank of choice, the jury has named it Africa’s best retail bank. Ecobank also received the Innovation Award for its revolutionary Ecobank Mobile app, which has already been downloaded by over 5 million users. This award was…

The African Export-Import Bank (Afreximbank), the Finance Center for South-South Cooperation (FCSSC) and the Made-in-Africa Initiative (MIAI) have announced a joint effort to mobilise $1 billion in equity fund to channel foreign direct investment from developing (South) economies towards Africa’s industrialization and integration into global value chains. The framework agreement executed by the three organisations in Beijing recently, mark the establishment of a strategic partnership among the institutions aimed at leveraging diversified financial instruments and resources to boost Africa’s industrialization and expand China-Africa economic and commercial cooperation The objective of the arrangement is to develop a common investment platform anchored…

WARA upgraded Coris Bank’s long-term local currency rating International (CBI) from BBB to ‘BBB +’ in May 2018. This rating is at the same level that the Burkinabe national ceiling, which is also established – according to WARA-‘BBB +’. WARA has also upgraded CBI’s short-term rating from ‘w-4’ to ‘w-3’. The perspective attached to this notation is now stable. As a reference, the international currency ratings that WARA assigns to CBI became: iB + / Stable / iw-5. Among the bank’s strengths, Wara mentions: CBI’s strong position in the Burkinabe banking market, built in 8 years, establishing itself as the…

As a prelude to the second edition of the country risk conference Côte d’Ivoire, scheduled for May 31 in Abidjan, Stanislas Zézé, CEO of Bloomfield rating agency, discusses the issues and prospects of this event organized in partnership with Financial Afrik. You are organizing the second edition of the conference “Risk -Pays Côte d’Ivoire”. What are the objectives of this event? The second edition of the conference debate on the Ivory Coast risk country, is part of a logic of pedagogy, discussions and constructive exchanges, and search for solutions for a better organization of the business environment and the strategy…

Already listed on the Rwanda Stock Exchange, Bank Of Kigali has just received the green light from its board of directors (meeting May 25, 2018) for a listing on the Nairobi Stock Exchange (NSE). The planned operation in the second half of this year is part of the bank’s $ 70 million plan. Some $ 20 million will be spent on digital, said Diane Karusisi, chief executive of the bank. Bank Of Kigali’s NSE introductory transaction is a first for a Rwandan company. Founded 51 years ago, Rwanda’s leading banking institution in terms of assets has been listed on the…

Not a free zone but rather a financial zone according to the international nomenclature and definition Casablanca Finance City is progressing well in its continental vocation. Since 2012, about 75% of Morocco’s investments in Africa pass through this structure. At the end of March, the special place set up in the heart of Casablanca to support Moroccan and international investors to Africa counted 150 companies established covering 46 countries of the continent. “These are all companies that cover Africa and invest from Casablanca,” said Manal Bernoussi, Director Strategy, Marketing and Communication of Casablanca Finance City in an interview with Financial…

Intra-regional trade can only be expected to expand economic growth and development if there is improved access to market information, Dr. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has yesterday. Dr. Oramah, who was speaking in Busan, South Korea, on Monday during a breakfast event organized by the Bank to promote the maiden Intra-African Trade Fair (IATF) scheduled to hold in Cairo from 11 to 17 December, said that, unlike in relatively mature markets where information on the sources and suppliers of specific goods and services were seamlessly available, the situation was different in Africa. Most African manufacturers do not…

African Development Bank President Akinwumi Adesina presented the Africa Road Builders -Babacar Ndiaye trophy to the Kenyan delegation on the sidelines of a ceremony held in Busan, South Korea, on May 23, 2018. The Babacar Ndiaye 2018 Trophy is awarded to Kenyan President Uhuru Kenyatta, rewarding the development of road, rail and airport infrastructure in this key East African country. Kenya Road, Kenya Railways Station and Lapsset Development Authority (which manages the corridor connecting South Sudan to Lamu Port) were present at the ceremony. The event held in the prestigious setting of the Park Hotel Busan was preceded by a…