Author: Editor

Alexandre Rothschild, 37, is expected to succeed his father, David Rothschild, on May 17 at Rothschild & Co.’s general meeting. Until then, executive chairman of the group, 75-year-old David passes the torch to his son but remains ‘active as new Chairman of the Supervisory Board. Alexandre de Rothschild will have to make a name next to his legendary surname of seven generations of bankers. If father, David, was the architect of the reconstruction of the French family bank, he will give more momentum certainly in private equity, currently the third pillar of the bank alongside the advice on mergers and…

Engaged in the framework of the national strategy of financial inclusion, the group Banque Centrale Populaire launches, this Monday, April 16th, its solution of mobile payment “BPAY”. This electronic wallet, backed by a bank account, ensures an unprecedented convenience to the realization of money transfer and payment transactions. Downloadable on App Store and Google Play, the first version of the mobile application “BPAY” allows its users: – to transfer money instantly from mobile to mobile -make instant transfers from mobile to bank account; – to carry out different payment transactions; – to follow the history of the operations carried out…

IDEMIA, the world leader in Augmented Identity, provides HSBC’s all-new, exclusive black card – a metal-clad card with a dual interface (contact and contactless) designed to offer travel and fashion experiences. unique to its owners. IDEMIA’s metal cards add to HSBC’s credit cards in the UAE. HSBC’s new “Black Credit Card” is designed for high-end customers and offers exclusive benefits such as 200,000 AirMiles at registration, 100,000 Air Miles at each anniversary, accelerated rewards of up to 2 , 5 Air Miles per 1 dihram spent on the card, free and unlimited access to the lounge lounge for card holders…

• Large onshore and offshore blocks in the emirate have been opened for a new competitive round of bidding • Estimates suggest that blocks contain substantial amounts of oil and gas • Successful bidders will have the opportunity to explore, then develop and produce discoveries with ADNOC • Potential partners are invited to register their interest for an invitation to international roadshow presentations on new blocks Abu Dhabi National Oil Company (ADNOC) announced today, as part of Abu Dhabi’s first comprehensive licensing strategy and on behalf of the Supreme Petroleum Council (SPC), the details of the first round six oil…

The Economic Commission for Africa and Ethiopia signed on Friday an agreement marking the start of the renovation of Africa Hall, the cradle of the Organization of African Unity (OAU), now the Union. African. ECA Executive Secretary Vera Songwe and the Ethiopian Minister of Foreign Affairs Hirut Zemene Kasa signed the agreement that would start the estimated $ 57 million renovation, which will modernize the site’s facilities according to the standards. international. Ms. Songwe thanked the Government of Ethiopia and United Nations staff for their tireless work on the renovation project, which she said would turn Africa Hall into a…

In anticipation of the launch of the 2nd generation (phase) of the Alliance for the Fight Against Avoidable Blindness (AFAB), the Islamic Development Bank (ISDB) and the Islamic Solidarity Fund for Development, ISFD, organized a meeting of coordination on 19-20 March 2018. The official launch of AFAB 2ème Génération took place on the sidelines of the 43rd Annual Meeting of the Board of Governors of the IsDB Group in Tunis, Tunisia, 1-5 April 2018. The Under-Secretary of State for Health of the Republic of Turkey, HE Professor Eyup Gumu, made a speech at the opening of the AFAB coordination meeting…

“The African Union strongly condemns any use of chemical and other weapons prohibited by international law,” said the Commission of the Pan-African Organization in a statement dated 15 April 2018. Weighing his words, the Addis Ababa-based organization says it is “deeply committed to multilateralism” and stresses that “any response to such acts must be based on irrefutable evidence gathered by a competent, independent and credible entity and scrupulously comply with international law, including the primacy of the United Nations Security Council for the authorization of any use of force “. Africa, the statement continues, expects members of the UN Security…

By Leila El Andaloussi * New technologies do not spare any sector. That of corporate finance and the economy will also change. An innovative financing solution, the Crowdfunding, will soon see the light of day in Morocco and will give life to the dreams of many creators. In Europe and the United States, crowdfunding has seen unprecedented growth and has helped finance large parts of the economy, as well as social and cultural projects. What will happen to Morocco? Will it give the same impulse to the creative spirit of our entrepreneurs and will it initiate this long-awaited dynamic? In…

By Jacques Leroueil A pioneer in mobile commerce, Kenya crossed for the first time the symbolic threshold of 1000 billion shillings of quarterly transactions. The announcement was made Thursday by the Communications Authority of Kenya (CAK) who said in a statement that “308.6 million transactions, valued at 1170 billion shillings ($ 11.7 billion) were recorded for the second quarter of fiscal year 2017-2018 (October 2017-December 2017), an increase of 64% over the previous period (714 billion shillings). The Kenyan regulator notes however that the number of transactions is him, down from one quarter to the other (308 million against 352 million…

The Africa Mini-Grid Developers Association (AMDA) announced its official launch on April 18, 2018, in 2 countries (Kenya, Tanzania) first then 3 other countries this year (Nigeria, Ethiopia and Uganda) and possibly throughout Africa. The current 11 member companies serve more than 11,000 connections and include innovative start-ups and public services. The International Energy Agency (IEA) estimates that nearly 290 million Africans will be served by mini-grids by 2030, also noting that mini-grids and other distributed and renewable represent the least expensive option to connect three quarters of the population. Mini-grids are small electrical grids with their own generation, storage and transmission…

The US Overseas Private Investment Corporation (OPIC), the African Development Bank and KfW are supporting the African Local Bond Fund (ALCB). Priority is given to housing, microcredit and agriculture projects. According to the protocol signed on April 18, 2018 in Frankfurt, CIPO contributed $ 40 million to the Fund while the African Development Bank provides a senior loan of ZAR 140 million (US $ 10 million) to support development. local corporate bond markets in Africa. This last loan was the first local currency loan obtained by the ALCB fund. The Fund was established in December 2012 by the German Development…

The selection of tenders for the construction of the Koukoutamba hydroelectric dam has been completed since last week according to the director general of the Organization for the Development of the Senegal River (OMVS), developer. With a record investment of $ 1 billion, Koukoutamba has a power of 300 MW, the largest dam ever erected by the quadripartite organization. Several times postponed, the selection of the prime contractor had seen a real pitched battle between Canadian, American and Chinese companies. It was finally the latter who found themselves on the home stretch. Subsequently the operation was suspended because of differences…

Senelec (Senegalese Electricity Company) has managed to solicit 30 billion FCFA from the market. Demand has exceeded supply. The transaction, launched in February, mobilized CFAF 38.2 billion through an investment syndicate led by CGF Bourse and Impaxis Securities. The interest rate applied is 6.5% to be assessed in relation to the investment grade rating granted to the agency by the Bloomfield agency. By category of investors, the lion’s share goes to legal entities. Banks subscribed for 11 billion FCFA against 6.9 billion FCFA for insurance and 7.2 billion FCFA for non-financial corporations. Households and individuals subscribed to around 10% of…

Groupe Renault has appointed Nadia Tazi, a Moroccan, to head the Group’s Information Systems Department (DSI) in the Middle East and India (AMI) region. Graduated from Al Akhawayn University with a masters degree in computer science, Nadia Tazi began her career at Dewhirst LadiesWear Morocco, an English textile multinational, as IT Manager in 2000, before joining the group. Renault in 2010 as technical director. Since 2013, Nadia Tazi holds the position of DSI of Groupe Renault Morocco. The manager will ensure from Morocco, its role of DSI of the Group in the AMI region while retaining the direct responsibility of…

The Amadeus Institute, independent Moroccan think tank, catalyst of debates strongly involved in the African problems, continues its initiative of reflection and exchanges in perspective of the accession of the Kingdom of Morocco to the ECOWAS, after a first conference in Dakar, March 29th. In partnership with the General Confederation of Enterprises of Morocco (CGEM) and with the collaboration of the Ivoirian Center for Economic and Social Research (CIRES), the Amadeus Institute organizes on April 20 in Abidjan a conference under the theme “Morocco in ECOWAS : Enlargement or deepening? ” “Côte d’Ivoire has recently become the leading destination for…

The Compagnie Financière Africaine Group (COFINA), the first African institution of mesofinance, announces its first securitization of receivables on the Regional Stock Exchange, the Common Stock Exchange of the eight countries of the region. Economic and Monetary Union of West Africa (UEMOA). This operation, a first for the region, involves a bond issue for an amount of 10 billion CFA francs, an unprecedented amount for a financial institution in West Africa. It consists of the sale, by the Group’s subsidiaries, Compagnie Africaine de Crédit in Côte d’Ivoire and COFINA Senegal, of their receivables to a common securitization fund set up…

New service enables global e-commerce on the African continent and allows M-PESA users in Kenya to shop with PayPal merchants worldwide and allow Kenyan online businesses and freelancers to sell securely and transfer funds between their PayPal and M-PESA accounts NAIROBI, Kenya – (BUSINESS WIRE / AETOSWire) – PayPal and Safaricom announced a revolutionary collaboration that allows Kenyans to easily transfer money between their M-PESA and PayPal accounts. The new service removes the significant barriers that have prevented domestic consumers and businesses from taking full advantage of global e-commerce. “PayPal’s collaboration with M-PESA is part of the company’s long-term strategy…

The African Center for Natural Resources (African Development Bank) is organizing a high-level seminar on skills development in the natural gas sector in West Africa from 17 to 18 April 2018. The seminar will take place at the Tiama Hotel in Abidjan. It will highlight the transformative potential of natural gas for established gas producers and newcomers to this sector in West Africa. Participants will discuss strategies to unlock natural gas potential for national and regional markets. The seminar will allow participants to better understand ongoing developments down the value chain, supportive policy frameworks and market dynamics. The African Natural…

Mazagan Beach & Golf Resort is the craftsman of unforgettable holidays under the sun. In an exceptional place, the holidays are spent relaxing, leisure and sport. The whole family will be able to be lulled by the sweetness of summer, and share tasty moments around delicious meals offered by the restaurants feet in the water; choice of Spanish cuisine, barbecue grill and pizza. And, at Tutti Frutti at the edge of the pool, place to greediness. Around the beach, place to action with a multitude of activities for all ages: adrenaline rush in jet-ski, quad, or on the track karting,…

In a statement released on Wednesday, the state of Djibouti says it opposes “firmly to the threats and untruths broadcast by the company DP World”, shareholder of Doraleh Container Terminal (DCT), on the port facilities of Doraleh. “The DCT concession contract was terminated through a transparent legal process and, contrary to DP World’s allegations, DCT can no longer claim any concession rights under the contract in question,” says the government. , who regrets “the position of DP World which continues to harm the best interests of Djibouti”. According to the authorities, the now ex-partner “is not afraid to challenge the…

Director of Human Resources of MTN-BENIN, Viviane Dalia SISSUH also chairs the foundation of the mobile phone operator in the country. In this interview where she takes stock of ten years of actions of the Foundation, she also announces the organization of a “solidarity march” for the benefit of women on April 21, 2018. What are the reasons why MTN Benin, a purely commercial company decided to create, a foundation? Effect of fashion or MTN had a social program? Fashion effect, not at all! The foundation is part of the MTN DNA. Indeed, during the year 2001 can not remain…

The Pan African Risk Management Mutual (ARC), an institution of the African Union, is developing an insurance product to facilitate the implementation of rapid interventions and access to immediate financial assistance in the event of a crisis. epidemic. Ebola virus disease, Marburg virus disease, meningitis and Lassa fever will be covered during the pilot phase. More than 30 African countries are at risk for one of these four potentially epidemiogenic diseases. The Ministries of Health of Guinea and Uganda, the two countries where the pilot phase of the ARC’s outbreak and outbreak insurance program is being implemented, selected these four…

The fourth session of the African Regional Forum on Sustainable Development (ARFSD) will be held next month in Dakar, Senegal, under the theme of the High-Level Political Forum on Sustainable Development: “Transformation to Sustainable and Resilient Societies” . The Forum, which tracks progress in implementing the 17 Sustainable Development Goals (SDGs), which are themselves at the heart of the 2030 Agenda for Global Sustainable Development, will be held from 2 to 4 May. Nassim Oulmane, Chief of the Green Economy and Natural Resources Section of the Special Initiatives Division of the Economic Commission for Africa (ECA), says preparations for the…

Can they alone constitute 60% of the value chain of the cashew sector and, at the same time, suffer from lack of representativeness for the establishment of an Interprofessional Agricultural Organization (OIA) in the sector? FENAPACI [National Federation of Cashew Producers of Côte d’Ivoire] replied “no”. For this structure which claims 28 unions of cooperative societies and 352 cooperative societies, it is time for the actors themselves to take control of the sector by creating the interprofession expected since the disappearance of INTERCAJOU in 2011. They called this “Take control of your destiny”. Deadline In Yamoussoukro, where its directors met…

West Africa Rating Agency (WARA) today announced the publication of SICABLE’s first rating. On its regional scale, the long-term rating that WARA assigns to SICABLE is “A-“, in investment grade, while its short-term rating is “w-3”. SICABLE, member of Prysmian Group, is the Ivorian leader of the electric cable. The perspective attached to these ratings is stable. Simultaneously, on its international scale, WARA assigns to SICABLE the following notes: iB + / Stable / iw-5. The rating first reflects the fact that SICABLE dominates the cable market in Côte d’Ivoire and sets out to conquer the neighboring markets. SICABLE’s governance…

The Board of Governors of the Arab Bank for Economic Development in Africa (BADEA), holds its 43rd session on the Dead Sea, Hashemite Kingdom of Jordan, on April 10 and 11, 2018 in the framework of the Annual Meetings of Arab Financial Institutions joint. These Arab Financial Institutions, in addition to BADEA, include the Arab Fund for Economic and Social Development, the Arab Company for the Guarantee of Investments and Export Credits, the Arab Monetary Fund and the Arab Authority of the Investment and Agricultural Development. It should be noted that the Bank began operations in 1975 with a…

Diane Karusisi, Managing Director of Bank of Kigali, has been confirmed as President of the BK Group, the holding company which oversees the activities of the leading Rwandan financial group (banking, insurance and digital services). The information was given at the end of the week by the Kigali newspaper “The New Times” and corroborated since, from reliable sources, to the Rwandan Social Security Office, one of the main shareholders of BK. Set up last December, BK Group PLC reflects Bank of Kigali’s desire to diversify its scope of activities, long confined to the banking sector alone. The group’s three subsidiaries…

The Trump administration suspended Rwanda from AGOA. The African Growth Opportunities Act (AGOA) is an instrument promulgated by Washington in 2000 to promote partnership relations with Africa in place of aid. public. Prolonged by Barack Obama for ten years, Bill Clinton’s law allows access to more than 6,000 products from 38 African countries (selected according to their respect for human rights and democracy) to the US market without tariffs, subject to low taxation for certain products imported from the United States. The only problem, as we have seen in the case of Rwanda, is that AGOA is managed unilaterally by…

The Secretary General of La Francophonie Michaëlle Jean is proud to announce the appointment of Ambassador Hervé Ladsous as Special Advisor in his office. The French diplomat has been UN Under-Secretary-General for Peacekeeping Operations from September 2011 until 2017 and Ambassador of France in many capitals. Since 2014, he has been one of the top personalities involved in the political missions of La Francophonie, particularly as Deputy Chief of Mission for monitoring the electoral process in Madagascar. “I am very honored, touched and pleased by the decision of the Secretary General of La Francophonie to call me to her side…

Proparco has just taken a $ 3 million stake in JUMO, a start-up that offers non-underbanked people access to financial services through their mobile phones. JUMO develops an innovative platform for financial inclusion. An innovative and responsible digital financial services model JUMO offers its customers to subscribe to loans and savings products from their mobile phone. Fintech has developed a credit scoring algorithm that helps people to estimate their solvency and thus access funding at very limited costs. In 2017 alone, the start-up granted 12.2 million loans to its clients. JUMO currently operates on the African continent (Tanzania, Kenya, Uganda,…