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AccorHotels announced Monday the acquisition of the hotel group Mövenpick Hotels & Resorts for 560 million Swiss francs (482 million euros) in cash, accelerating its development in the high-end segment in Europe, the Middle East and Africa. The transaction, which involves 100% of the capital, will be Mövenpick Holding, which owns 66.7% and belongs to the German billionaire August von Finck. The remaining 33.3% will be acquired from Kingdom Holding, owned by Saudi Prince Al-Walid Ben Talal, a 5.7% shareholder in AccorHotels and owner of the Georges V hotel in Paris. In February, AccorHotels announced the sale of a majority…

Starting Friday, April 20, 2018 social networks under the # Khalih_Yrib and # Mouqatiâoune hastag, the boycott targeting three major Moroccan brands has grown. According to the Arabic-language “Akhbar Al Yaoum”, Afriqia, would lead the losers, with 145 million cents of losses per day. The fuel distribution company of billionaire Aziz Akhannouch, Minister of Agriculture and Fisheries and President of the party RNI (National Rally of Independents), is particularly targeted. The boycott also targets the brand “Sidi Ali” of the company “Mineral Waters of Oulmès” group Holmarcom which is member Miriam Bensalah, outgoing president of the Moroccan employers (CGEM). Another…

Ecobank Nigeria has published, as of April 30, 2018, its financial statements as at December 31, 2017. The recovery of Ecobank Nigeria is confirmed by the profound restructuring undertaken for a little over 2 years in the bank by the CEO, Charles Kié, and his teams. The net result (in local currency) is 3.5 times higher than the previous year due to a drastic reduction in operating expenses and a better control of risks related to customers. The cost / income ratio has been reduced by more than 10 points in one year (to 51%) thanks, among other things, to…

By NJ Ayuk (CEO), CEO of Centurion Law Group The Republic of the Congo has suffered dearly during the oil collapse; and Congolese President Denis Nguesso has pledged that the country would no longer be sitting on the side lines — suffering the effects of global decision-making in the oil industry without a voice. In an official communiqué announcing the bid for OPEC membership, he stated that he wished to “place our country in the rank of the world’s leaders.” In January, officials from the Republic of Congo announced the country’s application for membership of the Organization of Petroleum Exporting…

By Adama Gaye AFRICA IS NOT ABANDONED, Mr VINCENT BOLLORÉ. IT IS A CERTAIN AFRICA, WITH ITS DIRTY AND COACHOTERIES, WHICH DIES, REVEALING THEM, AS PURULENT EFFLUENTS, TO THE HAPPINESS OF ITS PEOPLE AND ALL WHO KNOW THAT THE 21ST CENTURY WILL BE JUST OR WILL NOT BE. Suddenly, the Breton, accustomed to the sea, aboard a resplendent yacht, feels a sea sickness from a … earth chiselled by harmattan and desert sand, glowing sun and dry winds, while it is, him, in the distance, in his sweet France. In a nascent summer. Brutal shock. Which triggers in him a strong…

The Sonatrach group has made an oil discovery in northern Niger, announced the group’s CEO, Abdelmoumen Ould Kaddour, on April 25 in Tamanrasset. The drilling was carried out by the Chinese group GWDC by the Chinese group GWDC on behalf of SIPEX (Sonatrach International Petroleum Exploration and Production Corporation), the international subsidiary of Sonatrach. Since 2005, SIPEX has held a prospection permit for research in the Kafra zone in Niger, about 100 kilometers from the Algerian border. In 2015, this contract was replaced by a production sharing agreement.

The Onomo hotel group launched on April 25, 2018, the construction of its first hotel in Cameroon, with the laying of its first stone in the administrative district of Bonanjo (Douala). It is indeed an institution that represents an investment of 15.5 billion CFA francs (half of which comes from the Commercial Bank Corporation of Cameroon), and announced to be operational for the 2019 edition. of the Africa Cup of Nations. The project has 153 rooms and suites, three conference rooms, a swimming pool and a fitness room, as well as an underground car park. It will eventually generate some…

Two entrepreneurs compete for the presidency of the National Council of Employers of Burkina Faso. On one side Apollinaire Compaoré, 64, boss of the Planor group and leader of several companies including a bank in the making, Wendkuni Bank International. Focus. Elie Justin Ouedraogo, 65, former Minister under Blaise Compaore and current Chairman of the Board of the Canadian group Mining Company of West Africa (Semafo). The two candidates, known figures of the local private sector, covet the chair occupied since 2011 by Birahima Nacoulma, 83 years old, and accused of a certain immobility. The election will take place next…

United Bank for Africa (UBA) Plc has announced the appointment of Martin CHE as the new Regional Director in charge of four subsidiaries in the CEMAC zone. The position covers the bank’s activities in Cameroon, Congo Brazzaville, Gabon and Chad. The appointment, which took effect on March 1, 2018, confirms the bank’s desire to structure its development policy around regional centers. Previously based in the Congo, Martin Che has increased the return on equity of the local subsidiary by 100%, bringing this ratio from 8% in 2013 to 36% in 2015. More importantly, the cost / income ratio 85% has…

The Ecobank group’s ETIT share took the elevator in the three financial markets where it is listed (Abidjan, Accra and Lagos) following the publication of the results of the pan-African bank. On the session of Friday, April 27, the ETI course garnered 4.5% to 23 CFA francs at the BRVM, incorporating the top 5 largest increases. At the Ghana Stock Exchange, the ETI share rose 5% to 0.21 Cedis (GHc) on April 26, ahead of the flagships of the banking sector. In Nigeria, the ETI value, which rose by 18% in the first half, stabilizes around the 20 naira line…

Former Senior Legal Officer of the Agency for the Safety of Air Navigation in Africa and Madagascar (ASECNA), Djibril Birasse Bâ disputes the conclusions of the investigation conducted by the Office of Investigation and Analysis for the safety of civil aviation (BEA) in the collision in September 2015 between a small plane from Senegalair and a Boeing from the Equatorial Guinean company CEIBA. The accident had killed seven people. Focus An Equatorial Guinean airline banned from flying throughout Europe and the United States for more than ten (10) years; • The same company, ranking high on the blacklist of “the…

The OCP School Lab program conducted by OCP AFRICA has been running since February 12th several regions of Kenya. This mobile floor laboratory moves to meet the Kenyan farmers and offer them support for soil analysis as well as fertilizer application recommendations. The first season of 2018 in Kenya targeted 9 regions: Nyeri, Meru, Embu, Kirinyaga, Nakuru, Murang’a, Narok, Nyandarua and Laikipia. The aim is to support and train about 7,500 farmers in the use of adapted fertilizer and the adoption of reasoned fertilization techniques. This two-month campaign is being conducted in partnership with Kenya’s Ministry of Homeland Security and…

The 16th day of the African Association of Banking and Financial Institutions Lawyer was held from April 3 to 5, 2018 in Bujumbura (Burundi) on the theme of “specificity of the banking activity and effective resolution of the related litigation”. The subject was treated under the OHADA law and specific regulations. In fact, it was Albert OKITO’s turn to open the dance, under the moderation of Maitre NIBIGIRWE, lawyer and manager of the Gilbert and Partner business firm, to share with the audience, the concern of the Congolese banks, in relation to the impact of targeted international financial sanctions on…

After the “Intercultures and Peace” in 2017, the association #JamSalam, organizes on May 4, 2018 a workshop with young people followed by a conference on “the value of cultures in entrepreneurship” in the region of Al Haouz . By devoting the theme of this edition to “Cultures and Entrepreneurship”, the Al Haouz Festival (scheduled from May 3 to 7, 2018) wishes to focus on the youth of the region, reposition it as an actress and propel it to new fields of possible. Successful entrepreneurs, committed to the South-South dialogue, Ms. Nadia Salah, Director of the Eco-Médias group, administrator of the…

PARIS (Agefi-Dow Jones and Financial Afrik) -Laurent Mignon, Chief Executive Officer of Natixis, the merchant bank of Groupe BPCE (Banques Populaires Caisse d’Epargne), is expected to succeed François Pérol as head of the Mutual Group, according to L’Agefi, which quotes sources close to the file. They also confirm the information of the weekly Challenges, which had revealed earlier in the day that François Pérol, CEO of Groupe BPCE, had formalized his resignation from the supervisory board of the bank. FrançoisPérol would return to Rothschild, which he had been a partner from 2005 to 2007, and where he should become co-chairman…

At the end of 2017, the total balance sheet posted by the National Bank for Economic Development (BNDE) is FCFA 141 billion, an annual increase of FCFA 53 billion in absolute value, and more than 60% in relative value. This increase corresponds to the cumulative increase recorded over the first three (03) years (2014-2016). It is attributable to the significant growth in the financing of the economy by BNDE. The ratios and intermediate management balances recorded a good progression with a net margin rate of 21% against 6% in 2016, an annual increase of 15 basis points. In addition, the…

Teranga Capital, an impact investment company dedicated to financing and in support of Senegalese small and medium-sized enterprises (SMEs), announced today that it has invested 88 million CFA francs in C.A.I.F. (Support Center for the Women’s Initiative). The Support Center for Women’s Initiative (CAIF) (www.caif.sn) is a vocational training center founded by Madame Arame DRAME and specializing in catering and hospitality, sewing and styling, hairdressing and aesthetics. Created 14 years ago, it has good expertise to offer its students, mainly young women, training of good quality and adapted to the job market. According to Insa DRAME, President of C.A.I.F. “After…

The globe-trotter Maria Nadolu returns from Cape Verde and describes this beautiful destination through an unprecedented angle, far from the quantitative curves of the economic press, the cascade of the figures contained in the power point and the Gross Domestic Product equation. that others want to turn into Gross National Happiness. In short, a love at first sight with striking photos. “The ocean is uncertain and changeable like the heart of man,” said Sommerset Maugham in the Mermaid Archipelago. In the middle of an ocean, there is Cape Verde, “ten grains of sand in the Atlantic,” sang Cesaria Evora. It…

The civil society of Darkhala co-organizes with the Gran Canaria region of the Canary Islands, in partnership with the Association of Businessmen of Las Palmas – Fenorte, chaired by Antonio Medina, a cultural and economic week between the 2 and the May 9, 2018 in Las Palmas. Under the theme; “Economic and cultural cooperation between the two Regions is a Reality”, this bold initiative aims to strengthen the economic and cultural dynamics between the two regions, supported by a geographical proximity that places the theme of these multiple days at the doors of the stakes between Europe, Morocco and Africa.…

As part of its digital transformation program, BMCE Bank of Africa is continuing innovation momentum to adapt to the context of a digitized society and a hyper connected generation facing internal and external changes relating to the digital revolution of the bank. So, to make the employee a lever major change, BMCE Bank of Africa launches a Think Tank Digital. This innovative approach in the Moroccan banking sector was conceived as a major project of the bank’s digital transformation program aimed at proposing new initiatives, new modes of operation, new tools, products and services … It also aims to introduce…

Ecobank Transnational Incorporated, the parent company of the Ecobank Group, the first pan-African bank in 36 countries on the continent, held its 30th Ordinary General Meeting in Lome, Togo, on April 24, 2018. The shareholders expressed their satisfaction that Ecobank returned to profit for the year ended December 31, 2017 and approved all the resolutions of the AGM, including the ratification of the co-optation as director of Monish Dutt of International Finance Corporation, Brian Kennedy of Nedbank Group and David O’Sullivan of Qatar National Bank. The term of office of the external auditors assigned to Deloitte and Touche, Nigeria, and…

Vincent Bolloré, the CEO of the Bolloré group and Vivendi’s largest shareholder, was indicted on Wednesday, April 25 in the evening. The CEO of the group that bears his name has been indicted for bribery of foreign public official, complicity of breach of trust and complicity of false but was not placed under judicial control, it adds. The businessman had been held in police custody since Tuesday as part of a judicial investigation open including “bribery of foreign public officials”, about the conditions for obtaining port concessions to his group in Africa, in 2010. His custody was extended on Wednesday…

The World Bank estimates that officially registered remittances to low- and middle-income countries reached $ 466 billion in 2017, up 8.5% from $ 429 billion in 2016. If shipments to high-income countries are also counted, worldwide transfers grew by 7% to $ 613 billion in 2017, up from $ 573 billion in 2016. Transfers have increased in all regions, and the main beneficiaries are India with 69 billion dollars, followed by China (64 billion dollars), the Philippines (33 billion dollars), Mexico (31 billion dollars), Nigeria (22 billion dollars), and Egypt (20 billion dollars). Remittances are expected to continue to grow…

In closing the Spring Meetings, World Bank Group shareholders approved a $ 13 billion capital increase and further reforms to strengthen the capacity of IBRD and IFC to meet global challenges. today and tomorrow. The financial envelope includes general and selective increases in subscribed capital of $ 13 billion, of which $ 7.5 billion is for IBRD and $ 5.5 billion for IFC. It also provides for an increase in the callable capital of IBRD. The fundamental reforms proposed at the institutional and financial levels bring about profound transformations. These include measures to improve the internal efficiency and increase the…

In the assessment of the incredible case of the acquisition of the port of Conakry, we do not smoke the same pipe in the Guinean executive in response to allegations of corruption Vincent Bolloré for “subordination of foreign public officials.” If Albert Damantang Camara, the spokesman for the Guinean government, believes that “the concession port of Conakry was granted in strict compliance with the laws in force and states unequivocally that” Guinea is not concerned by these allegations, which do not make sense “according to statements relayed by Reuters on Tuesday, April 24 in Conakry, elsewhere the tone is for…

The African Guarantee Fund (AGF) is providing a partial guarantee amounting to CFAF 6 billion (USD 11 million) to Société Commerciale de Banque (SCB Cameroon), a subsidiary of Panafrican Group Attijariwafa bank. This line is intended to facilitate the financing by SCB Cameroon, up to 13 billion CFA francs, of the project to set up a cocoa bean processing plant in the town of Kekem, in the region of West Cameroon. . This project, supported by Cameroonian SME NEO Industry, will not only provide Cameroon with an annual processing capacity of 34,000 tons of cocoa beans, but also create many…

Despite unfavorable economic conditions, the Rwandan brewer Bralirwa almost quadrupled its net profit in 2017. Unveiled Monday, the company’s 2017 annual accounts show a profit after tax of 5 billion Rwandan francs (7 million dollars), against 1.4 billion francs (1.8 million dollars) in 2016, an increase of 263.3% from one year to the next. Welcoming this performance, Victor Madelia, the company’s General Manager, nevertheless reminded us that “these results were achieved despite a difficult business environment”. Quoted on Wednesday by the New Times, the leader explains that “the monetary depreciation (of the Rwandan franc, Ed) has resulted in an increase…

The Wärtsilä Group strengthens its presence in Senegal with the signing of an engineering, manufacturing and delivery contract for a 130 megawatt (MW) Flexicycle plant that will be an integral part of Senegal’s energy future. The project of Malicounda power station in Mbour is located 85 km from Dakar, the capital of the country. The order, registered in March, was made by Matelec, a provider of the independent energy producer MPG (Melec Power Gen) and entity of the Matelec group, based in Lebanon. The project is part of Senegal’s strategy to increase energy production while reducing the cost of electricity…

At its meeting today, the Board of Directors appointed Yasser Shaker as CEO of Orange Egypt effective May 1, 2018. Yasser Shaker is a recognized engineer who has played an important role in the technology sector for over 20 years. He graduated from the Faculty of Engineering of Cairo University and holds an MBA from the Ecole Supérieure de Commerce in Rennes (France). Previously, Mr. Yasser was Senior VP CTIO Orange Middle East and Africa (OMEA) where he contributed to the successful execution of the Orange Group’s strategy for the development of digitization in 19 countries. Previously, Yasser was the…

The President of the Republic of Cameroon, Paul Biya, ratified the agreement establishing the African Legal Support Facility (ALSF) on April 13, 2018 in the presence of his cabinet. Cameroon is the 25th member state to ratify the treaty. The bill authorizing President Biya to ratify the agreement was introduced in the Senate, under the chairmanship of Senate Speaker Marcel Niat Njifenji, after the country’s National Assembly adopted the proposed statute. After the 100 members of the Upper House voted in favor of the bill on March 15, 2018, it was forwarded to the President for ratification. Cameroon has a…