Author: Editor

Back to the starting square. Mohamed Ramsés Arroub is again the CEO of Wafa Assurance. The decision was taken at the end of the Board meeting just held today. Former CEO Ali Harraj is eligible to retire. Already co-opted in April as an administration by the general assembly, Ramses Arroub returns to him at the head of a company he led from 2007 to 2014, date of his resignation surprise for “personal reasons.” Since then, two CEOs have succeeded at the head of the Attijariwafa Bank Group subsidiary. The return of Mr. Arroub should according to indiscretions relaunch an…

Patrichi Christian Tanasa, who was appointed by President of the Republic Ali Bongo Ondimba to head Gabon Oil Company (GOC) on April 12, has just taken up residence there. Prior to running this company, he was special adviser to the Head of State for 25 days during which he was in charge of the Industries, Mines and Hydrocarbons Division. He replaces Arnaud Calixte Engandji Alandji in office since November 2015 and appointed to the government, on May 4, 2018, as Minister of Labor, Employment and Youth, in charge of vocational training. Mr. Engandji Alendji was the Secretary General of the…

Meeting on Tuesday, May 08, 2018 in Abidjan, Ivory Coast, the Board of Directors of African Guarantee Fund West Africa, announced the finalization of the process of integration of the Guarantee Fund for Private Investments in West Africa ( Gari Fund) by African Guarantee Fund (AGF) and therefore the name change of the Gari Fund, which became “African Guarantee Fund West Africa”. One of the main strategic focuses of African Guarantee Fund (AGF) is to decentralize its activities in order to get closer to its partners (banks and financial institutions) for a better management of the risks that it has…

By Diary N’diaye Bâ A boycott campaign has been launched on social networks (Facebook, Wathsap …) in recent days aimed at the largest Mauritanian telephone operator, Mauritel, a subsidiary of the giant Morocco Telecom, holder of 51% stake. “Khallouha tfaless” (let it go bankrupt) is the motto of the boycott campaign launched by the operator’s customers to denounce the quality of service and rates deemed high. Indeed, to justify this approach, bloggers evoke, the poor services of the operator charged at high prices. The price of one minute of communication at the national level is very high compared to the…

The Banque Centrale Populaire (BCP) Group and the African Development Bank Group (ADB) signed a $ 100 million Risk Participation Agreement (APR) on Tuesday, May 8, 2018. “This risk sharing program, which is a first in the Moroccan banking sector, would allow the realization of a transaction volume estimated at 700 million USD for three years,” said the BCP in a statement. Through this partnership, BCP and AfDB are joining forces to boost intra-African trade in key sectors, such as industry, agri-food, health and services. This agreement meets the growing needs for trade finance between Moroccan operators and companies on…

In her remarks at the opening of the African Water Week in Addis Ababa, May 7, 2018, Vera Songwe, Executive Secretary of the Economic Commission for Africa (ECA), deplores the mismanagement of resources in Africa. water that affects lives across the continent. “Today, more than 300 million people do not have access to clean drinking water and many women and children spend long hours searching for water points and are denied the opportunity to out of extreme poverty, “says Ms. Songwe. “Access to clean, safe drinking water is a human right, a fundamental basic need that must be available for…

The ship Cherry Blossom has just left the territorial waters of South Africa. Seized on May 1 following a request for seizure with the seal of the separatist movement Polisario, the ship that was carrying a cargo of the Office Cherifien des Phosphates (OCP) was at the center of a legal imbroglio combining politics and diplomacy. Today and after unsuccessful attempts to sell the cargo, the refusal of all potential buyers to acquire the goods is clear and irrefutable evidence of the illegitimacy of the property granted by the Port Elizabeth District Court. to the polisario “says Otmane Bennani-Smires, Executive…

Gauteng Province, South Africa, endorses the 2018 edition of the Africa Investment Forum (AIF) of the African Development Bank, calling it a global initiative that is the only way to transform the development landscape of Africa. continent. From November 7 to 9, 2018, Gauteng Province will host this Africa Investment Forum, the first of its kind, at its Sandton Convention Center in Johannesburg. “The Africa Investment Forum investing in Africa is more than just a forum,” said host province prime minister David Makhura after meeting with the president of the African Investment Bank. development, Akinwumi Adesina, Johannesburg. We Africans are…

Togo mobilized, Friday, May 4, a total amount of 24.7 billion CFA francs, against 20 billion solicited through an issue by auction of treasury bills, a coverage rate of 123.7%. According to the results of the transaction published by Umoa-Titres, the issuer retained an amount of 22 billion. With an interest rate of 6.75% and a unit nominal value of one million, this issue aims to “insure the coverage of the financing needs of the state budget.” The last issue of the treasure of Togo dates back to April 20, 2018, when its similar bonds were subscribed at a rate…

By Christian Kazumba, Director General AdKontact Mali and Burkina Faso The penetration rate of insurance (life and non-life) can be estimated at 1% of GDP in Francophone Africa (“CIMA” zone) and does not compare with the performance recorded in Morocco (around 3%) in France ( more than 9%) or in South Africa (more than 15%). It is the life branch (that is, the insurance of persons and not of property) which lags behind the most, since it represents in this region of the world only 25% of global business of the sector. Thus, in Mali, it is less than 0.12%…

Forty-eight hours after having submitted his resignation to the President of the Republic, Prime Minister Emmanuel Issoze Ngondet was re-elected in the afternoon of Thursday. The head of the government thus prolongs his stay at the Primature and will supervise a ministerial team in charge of preparing the legislative elections. The government, which did not respect the deadlines for unspecified reasons, had to resign after the Constitutional Court had decided to put an end to the powers of the current legislature. Mr. Issoze Ngondet should quickly form a so-called transition government with a more cohesive team and the old framework…

The 6 Bank Of Africa subsidiaries in the UEMOA Zone posted rather mixed results in 2017. This emerges from the brief presentations of the activity presented to the press on 20 April. BOA Benin accuses foreign exchange losses BOA Benin is getting closer to a total balance sheet of 1,000 billion FCFA. At December 31, 2018, BOA’s largest subsidiary by size had assets of 974.5 billion, up 7%. The bank’s net banking income rose 0.7% to 39.6 billion FCFA. As for the net result, it shows a decline of 8.2% to 14.8 billion FCFA. The decrease in net income is…

The African continent will have to mobilize no less than $ 34 billion annually to deal with exogenous shocks including climate change and significantly reduce the poor. This is the opinion of Mohamed Ibn Chambaz, Special Representative of the United Nations Secretary General in West Africa and the Sahel. He was attending the opening of the fourth African Regional Forum for Sustainable Development, held since May 3, 2018 in Dakar. Mohamed Ibn Chambaz estimates that Africa will have to annually seek $ 34 billion to invest in activities related to food security, resilience to climate change, green energy and…

At the end of the deliberations, the selection committee of the Africa Road Builders trophy has proceeded, this May 3, 2018 in Dakar, to the choice of the winner of the Grand Prix Grand Builder – Babacar NDIAYE Trophy. It is Kenya’s President Uhuru Kenyatta, who is nominated for his personal leadership and for the transformation of the road network. “The Selection Committee warmly congratulates the laureate and has the honor to inform him that the presentation of his trophy will take place on 23 May 2018 in Busan, Republic of Korea, on the occasion of the ADB Annual Meetings.…

Seynabou Dia, CEO of Global Mind Consulting, received the “Entrepreneur of the Year” award at Hub Africa awards 2018 in Casablanca, Morocco. The distinction was handed over by the Secretary General of ECOWAS and former Prime Minister of Guinea Conakry. Institutional communication specialist, Seynabou Dia, had to structure a series of projects first at the European Parliament’s office then at Science Po Paris. A supporter of institutional communication in all its dimensions, including through an anthropological approach, the founder of Global Mind Consulting has a series of large companies in her portfolio, making her one of the most influential of…

The Regional Exchange for Securities (BRVM) has completed the second stage of its Road Show “BRVM Investment Days 2018” in London, Wednesday, May 2, 2018 in partnership with Thomson Reuters with the effective presence of Mr. Pierre Atépa GOUDIABY, Chairman of the Boards Board of Directors of BRVM and DC / BR, David CRAIG, President Finance and Risks THOMSON REUTERS and Dr Edoh Kossi AMENOUNVE, Managing Director of BRVM and DC / BR. Setting the objectives of the London meeting, Mr. Pierre Atépa GOUDIABY indicated that this edition of the BRVM Investment Days should favor among other things (i) the…

Engaged in a regional coverage program, Maroc Leasing, a subsidiary of the group BCP, opened during April its first agency in the city of Tangier. This operation is part of a policy of customer proximity which ensures, in addition, better responsiveness in terms of file processing and decision making. Through the opening of its first branch in Tangiers, Morocco Leasing is starting its regional coverage plan, which supports its strategy focused on the decentralization of its services and customer proximity. Morocco Leasing capitalizes, moreover, on the modern and friendly aspects of its agency as well as on the commitment of…

Nigeria’s Central Bank (CBN) and the People’s Bank of China signed a $ 2.5 billion foreign exchange agreement on Thursday (May 3rd) to facilitate bilateral trade and investment and promote the financial stability of both parties. The currency swap agreement allows both institutions to exchange payments in one currency for equivalent amounts in the other to facilitate bilateral trade settlements and provide liquidity support to the financial markets. Already in 2014, former CBN vice-governor Kingsley Moghalu said the bank was seeking to increase the percentage of foreign reserves in Yuan from 2 percent to 7 percent. According to him, 85%…

The African Banker Trophy Jury announces the list of nominees for 2018. It reflects another solid year in the African banking sector, driven by innovation and the resilience of the markets. The nominees for the African Banker 2018 Trophies have been selected Jury members of the Panafrican Financial Magazine jury. This year’s finalists list includes banks from Morocco, Nigeria and Kenya that have a large footprint across the continent, Ecobank, Standard Bank and Standard Chartered are present in several categories. The awards ceremony, organized by African Banker Magazine, will be held at the African Development Bank (AfDB) Annual Meetings from…

Nominees for the 2018 African Banker Awards (http://AfricanBankerAwards.com) have been announced. This year’s shortlist sees another strong year for banks from Morocco, Nigeria and Kenya. Ecobank, Standard Bank and Standard Chartered, which have a large footprint across the continent also feature across several categories. The Awards, which are hosted by African Banker magazine, will be held during the Annual Meetings of the African Development Bank (AfDB) at the end of May in Busan, South Korea. The finalists, selected by an expert judging panel of bankers and business leaders will be announced at the African Banker Awards ceremony which will take…

The Sustainable Development Goals will only be achieved if countries and international organizations work to ensure that the poorest and most marginalized people are not left behind, says Mubarack Lo, Chief Economist at the Office of the Senegalese Prime Minister. Speaking at a pre-event meeting at the beginning of the fourth session of the African Regional Forum on Sustainable Development on the state of affairs of the “Leave no one in Africa” ​​issue, Mr. Lo said that nations must to be more ambitious and aim for a quality of life and not seek to eradicate extreme poverty, as they seek…

The National Commission for Petroleum Product Prices, an agency of the Ministry of Petroleum and Hydrocarbons, set Thursday the selling prices of petroleum products to consumers for the month of May 2018 through a letter from its president Bernardin Mve Assoumou, addressed Directors General of Total Marketing Gabon, Libya Oil Gabon, Engen Gabon and Petro Gabon, of which Financial Afrik obtained a copy. This increase in the price of petroleum products results, in particular, from the provisions of Decree No. 274 PR / MPH of 21 May 2015 regulating the National Commission of Petroleum Product Prices in the Republic of…

Under the Agreement: GTL transfers full ownership of the plant to GÉCAMINES GTL commits to repair the oven of the factory FORREST GROUP entities transfer to GÉCAMINES their shares in the CONGOLESE SOCIETY FOR THE TREATMENT OF LUBUMBASHI SAS TERRIL GÉCAMINES transfers to the FORREST GROUP its shares in GTL GÉCAMINES pays compensation to GTL GÉCAMINES and the FORREST GROUP welcome the conclusion of this Agreement. Read our analysis Albert Yuma, the irremovable patron of the General Careers and Mines (Gécamines) and Georges Fourrest, boss of the group of the same name, have buried the hatchet. Already confirmed by the…

By Antoine Lawson The Prime Minister of Gabon, Prime Minister Emmanuel Issozet Ngondet presented late Tuesday afternoon his letter of resignation to the President of the Republic following a decision of the Constitutional Court to put an end to the powers of the current legislature which resulted in the resignation of the current government. The tenant to the Primature until May 1 had been appointed prime ministers in October 2016 following a disputed residential election, it is recalled. Gabon has been living since April 30, an exceptional situation with the dissolution of the National Assembly and a Senate whose prerogatives…

After fruitful meetings in Abidjan, Accra, Addis Ababa, Cairo, Cape Town and Lagos, the African Private Equity and Venture Capital Association (AVCA) held its annual meeting in Marrakech on April 23 and 24, 2018, in the wake of the return of Morocco in the African Union.

Dr Masra resigns as Chief Economist of the African Development Bank for, he says, “to be part of the political solution for a futuristic Chad”. The economist, a specialist in economic diversification and renewable energies, engages in a Chad under the influence of the amendment of the constitution, on April 30, 2018, which modification establishes the 4th Republic and an “integral presidential regime concentrating the powers between the the hands of the President of the Republic and excluding new generations from the country’s decision-making bodies “. The expert who supported in September 2016, an economics thesis on Africa facing the…

In London, the UEMOA Regional Stock Exchange holds its BRVM Investment day in London, in the auditorium of Thomson Reuters. This stage of the international road show started March 14 at the Johannesburg Stock Exchange (JSE) will take place in the form of a series of exchanges between the stock market authorities based in Abidjan, the representatives of listed companies (Sonatel, BOA, ETI , etc.), SGIs, investors and financial players. The opportunity to present the potential of the 8 WAEMU countries to investors. With an average growth projection of 6.6% by 2021, the West African Economic and Monetary Union is…

The first ministerial spheres at the Diamniadio urban cluster will be inaugurated today, May 2, 2018, by President Macky Sall. The head of state will preside over the weekly meeting of the Council of Ministers. Delivered with 3 months in advance, the four intelligent R + 8 office buildings fully furnished and equipped on nearly 43,000 m2 are developed by Envol Immobilier. The complex which includes “a central area with a water jet, a multifunctional center and a hectare of parking spaces” is built on a plot of 3.5 ha and consists of 4 buildings The 56 billion FCFA project…

The growth of the urban population and its transformation of social habits that leads to seclusion and sedentarization deprives artisans of their age-old marketing approach based on recommendation and proximity. The consequence is that artisans are less accessible in town, because little known and not having means of promotion and visibility. It has therefore been conceived as an independent, collaborative platform that connects individuals and artisans in a framework of trust that takes into account geographical proximity. This platform pursues the major objectives: • Provide visibility and digital identity to artisans, • Create a free directory (identify, sort by location…

By Nassrallah Belkhayate, Marrakech The department in charge of tourism has not yet unveiled the new roadmap of the sector. The announcement was scheduled for April 2 in Agadir. Professionals are asking questions. Should be reviewed according to a committee of experts the overhaul of the Vision 2020 on governance, the Plan Azur, the repositioning of the destination Morocco, the place of digital, the improvement of the quality of the offer or air connectivity and especially the coordination of private-public partnership? The 2020 vision aimed to make the kingdom one of the top 20 destinations of world tourism with…