Author: Albert Savana

By Albert Savana. It is a velvet revolution that the Central Bank of Morocco (Bank Al-Maghrib) is pushing by adopting a regulation setting a ratio that reflects the requirements relating to the measurement of the interest rate risk inherent in the banks’ portfolio. “Interest rate risk is defined as the risk, current or future, to which the forecast net margin and the economic value of a bank’s equity are exposed, due to unfavorable movements in interest rates that affect on the positions of the banking book sensitive to the interest rate ”, specifies the central bank. The Bank Al-Maghrib circular…

The Central Bank of the Republic of Guinea is about to set up a digital currency. Through this reform, certain transactions will be carried out from mobile phones and electronic cards without Electronic Payment Terminal (TPE) etc. The currency will thus be transmitted from user to user while allowing economic agents to make easy and safe daily payments. It would also make it possible to make purchases, send money, or receive it. In our humble opinion, this decision deserves to be welcomed and encouraged as we have a cash oriented culture that does not speak its name. However, it should…

Malian businessman Samba Bathily has just invested in a cultural complex in Cape Verde, precisely on the island of São Vicente. The boss of the ADS group inaugurated on Saturday August 20, 2021, the Mansa Floating Hub, a floating musical center made up of 3 wooden pavilions separated but linked to each other. The set includes a recording studio, bar and performance space. “This Floating Hub is a platform of the” Social Nation Africa “dedicated to all African creators and all over the world so that they can find each other, that they create and that they can flourish. Whether…

The participation of savings and credit institutions under the jurisdiction of the Central African Banking Commission (COBAC) will be increasingly sought for the financing of the Central African economy. It is to materialize this ambition of the authorities shared by the business circles of this country that the BGFIBank group, the leading bank in the sub-region with a turnover of more than 3,000 billion FCFA in 2020 (5, 3 billion dollars) has just forged a strategic partnership with Commercial Bank Centrafrique (CBCA). The new agreement initialed last week in Bangui by the two banking institutions consists in particular of strengthening…

Contributions to the economy of Tunisia’s financial system experienced a slight decline of 0.3% or 257 million dinars during the first quarter of the year 2021 against an increase of 1.2% or 1.084 billion dinars. year earlier, according to data from the Tunisian Central Bank of Tunisia (BCT). This issuing institute mainly explains this situation by “ the decrease in credits to the economy (-0.7% or -655 million dinars against + 0.7% or +595 million dinars), the magnitude of which has was attenuated by the increase in the securities portfolio with the banks (7.5% or 398 million dinars against 10.3%…

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, announced this Monday, August 23, that the allocation of Special Drawing Rights (SDR), the highest in history (around 650 billion dollars), takes effect this day. “This allocation is a real injection in the arm of the global economy and, if used wisely, a unique opportunity to overcome this unprecedented crisis. It will provide additional liquidity to the global economic system, supplementing countries’ foreign exchange reserves and reducing their dependence on more expensive domestic or foreign debt. Countries can use the space thus created to support their economies and step…

Two ministers from the DR Congo are expected this week in Angola following the pollution of Congolese rivers caused by mining activities upstream of the watershed of the Tshikapa river in the Angolan part. They are Ève Bazaiba Masudi, Minister of Environment and Sustainable Development, and Christophe Lutundula, Minister of Foreign Affairs. According to information reported by the local press, the mission will be joint and will also be made up of the Angolan side. To date, the wait would concern the Angolan side which should finalize the list of experts and personalities who will be part of the expedition.…

For several weeks, the United States blocked Mali’s acquisition of a Casa-branded military aircraft. According to security sources, the blockage is linked to allegations of the use of child soldiers by GATIA, an armed group signatory to the Agreement for Peace and Reconciliation resulting from the Algiers process. But according to the Malian Minister of Foreign Affairs and International Cooperation, Abdoulaye Diop, the acquisition of this aircraft will facilitate the transport of troops in areas of difficult access, and will support Mali in humanitarian interventions especially with a workforce of nearly 50,000 people. The Minister carried out, from August 16…

The extraordinary summit of heads of state of the Economic and Monetary Community of Central Africa (CEMAC) on August 18, 2021 mainly devoted to “the evolution of the macroeconomic situation in the CEMAC zone in the context of the Covid-19 pandemic and the analysis of recovery measures ”also addressed other subjects of common interest, including the future of monetary cooperation with France. Apart from the closed session of the Heads of State, the said summit held by videoconference was marked by the participation of development partners in particular the World Bank (WB), the International Monetary Fund (IMF), the African Development…

The company Tractafric Motors Côte d’Ivoire (TMC), specializing in the sale of new motor vehicles, will pay its shareholders on September 2, 2021, for the 2020 financial year, an overall net dividend of CFAF 1.668 billion (2.502 million euros), announced the leaders of this Abidjan-based company. Compared to the 10.240 million shares that make up the company’s share capital, the net dividend per share amounts to 162.90 FCFA against 159.3 FCFA in 2019, an increase of 3.6 FCFA. The dividend that will be paid to shareholders represents 130.32% of the nominal value of the share, which is 125 FCFA. By…

Shoprite announced on Monday, August 23, that it was withdrawing from Uganda and Madagascar after two decades of activity. This, he said in a statement without further details, in line with the group’s review process outside South Africa, its local market. Present since 2000 in Uganda where it operates five stores, and since 2002 in Madagascar where it has 10 stores, the South African supermarket chain had already registered its withdrawal from Kenya and, since last June, from Nigeria. Indeed, after 16 years in the country, it sold the ownership of its subsidiary Retail Supermarkets Nigeria Limited, to Ketron Investment…

At the end of the first half of 2021, the Norwegian Sovereign Fund (Government Pension Fund Global) earned 990 billion crowns or 95 billion dollars coming mainly from its investments. In a statement, the head of the fund, Nicolai Tangen, noted the particularly strong performances of the sectors of energy and finance but also of technology stocks and health. Created 25 years ago, the Norwegian sovereign fund posted a return of 9.4% as of June 30, mainly driven by its equity investments which represent 72.4% of its portfolio and which have appreciated by 13.7%. Bond investments, which represent 25.1% of…

By Abashi Shamamba. Bank Al-Maghrib has implemented the directive on the financial risk management system related to climate change and the environment. The directive has been in force since March 4, 2021 and is part of the consensus between international regulatory authorities, grouped within the Network of Central Banks and Supervisors for the Greening of the Financial Sector. For the monetary authorities, this reform is a signal to the attention of banks and makes it possible to clarify their expectations in this area. It sets out the principles to be implemented by credit institutions to understand and manage the financial…

On August 16, 2021, the Congolese government and the Central African States Development Bank (BDEAC) signed a financing agreement of CFAF 32.8 billion ($ 59 million) for the construction of infrastructure. This is the development of the Dolisie-Kibangou road, the 93 km of which constitutes the first phase of the Libreville-Brazzaville corridor to link the Congo to Gabon, and which will make it possible to open up this production basin with a view to improving economic and commercial exchanges in the sub-region. The development of this section contributes to the implementation of integrative road link programs between the capitals of…

From our special correspondent in Lilongwe, Rodrigue Fenelon Masala After a long closed camera and diplomatic negotiations, the member countries of the Southern African Development Community (SADC) favored consensus in the appointment of the executive secretary. And in this hushed diplomatic ballet, it was the Botswanan Élias Magosi who was chosen this Tuesday, August 17 at the end of the 41st summit of heads of state and government to the detriment of the Congolese Faustin Luanga, who showed himself to be fair. -play by congratulating the winner. Until then permanent secretary to the presidency of Botswana, Elias Magosi succeeds Stergomena…

In Mali, the military junta is celebrating its first anniversary this Wednesday, August 18, 2021. For this, Colonel Assimi Goita addressed the Nation through a short speech Tuesday evening. “A message of remembrance and hope,” according to the Malian head of state. “A year ago,” to the day, the “people took their destiny in hand,” said Colonel Assimi Goita, leader of the Malian coup leaders. The August 18, 2020 coup, he said, was intended to turn the page of a story and start “writing a new chapter.” “Making this wish, I have a pious thought for those who have been…

At the end of the summit of heads of state and government of the Southern African Development Community (SADC) held this Tuesday, August 17 in Lilongwe (Malawi), the post of executive secretary returned to Botswanan Elias Mpedi Magosi, until -the permanent secretary to the presidency of his country, to the detriment of the economist Faustin Luanga of the DR Congo. Appointed for a four-year term, he succeeds Stergomena Lawrence Tax who has completed eight years of service. The Batswana thus becomes the seventh executive secretary in the history of SADC founded in 1980. His candidacy was brought by the President…

The business climate in Senegal deteriorated by 3.8 points, on a monthly basis, in June 2021 according to an opinion survey carried out by the Directorate of Forecasting and Economic Studies (DPEE). The indicator that summarizes this business climate, calculated on the basis of the balances of opinion of business leaders, stood at 96.4 against 100.2 in May 2021. It is thus found below its long-term average which is 100. “This deterioration reflects the loss of confidence of service providers and traders,” explains the DPEE. In the services sub-sector, the business leaders questioned mostly mentioned the difficulties in debt collection…

Following the arrival on her soil of a Guinean national who was confirmed positive for Ebola virus disease (EVD), on Saturday August 14, the Ivorian authorities, beyond the surveillance and monitoring system put in place. place to contain the disease in order to avoid an epidemic, have decided to close their land borders with Guinea. Although this closure has not yet been formalized by Conakry or Abidjan, whether temporary or prolonged, it remains effective according to the authorities of the Guinean sub-prefecture of Zoo, located on the border with the Ivory Coast. A situation that risks slowing down commercial cross-border…

In order to strengthen the recovery in activity and support the economic recovery plans of the WAEMU states, the BCEAO has taken new measures to support the issuance of government securities. Thus, by a Notice of August 12, 2021, the BCEAO informed the market of the establishment of the “Support and Resilience Window”. This special 12-month refinancing window at a rate of 2% dedicated to short securities called “Bons de Support et de Résilience” (BSR) was initiated to allow the States of the UMOA zone to raise resources under the best possible financial conditions. . With this support from the…

The difficulties for companies to access bank financing, generally because they do not offer guarantees, have increased with the outbreak of the health crisis linked to the coronavirus. Through “Flash leasing”, Afriland first bank offers a new offer to Small and medium-sized enterprises (SMEs) with a view to increasing their sustainability and supporting their development. According to the bank, nearly 90% of financing by leasing is mainly allocated for the acquisition of vehicles, while companies have the possibility of extending this financing for the purchase of other productive equipment, among others, the construction and equipment of factories. Since the launch…

The Ryselai Participations Ltee group has today finalized the sale of 100% of the capital of the company Assuredxpat Ltee for its benefit. This sale is part of the dynamic of strengthening the digital activities of the Ryselai Participations Ltee group. Assurexpat Ltee is a great opportunity to become a major player in digital insurance and the sale of online insurance products in the region and around the world. Speaking on this transaction, Nicolas FAKHRY, CEO of the Ryselai Participations Ltee group, particularly thanked Mr. XAVIER ETIENNE JEAN DUBOURG DU FAYET DE LA TOUR and Mr. Guillaume ROVERE for the…

In one year, several companies listed on the Casablanca Stock Exchange should renew the mandate of their auditors or appoint a new auditor. Some banks and finance companies are in this case. Behind the scenes, the battle is head-on between members of the famous auditing “Big Four” (PwC, Deloitte, KPMG and E&Y) and very enterprising challengers. By Abashi Shamamba. If for football stars, signing in a new club takes place between early July and late August, with the auditors, the transfer window occurs during the season of ordinary general meetings (AGO) of companies. The appointment of the auditors and the…

From our special correspondent in Lilongwe, Rodrigue Fenelon Massala. In Lilongwe, the adrenaline rises. This August 17 will see the epilogue of the duel between Professor Faustin Luanga Mukela of the DRC and the Botswanan Elias Magosi. The two executives are competing for the post of executive secretary of the Southern African Development Community (SADC). The scene of this diplomatic showdown, the hills overlooking the gigantic Binhu Wa Mu Ntarika convention center. The negotiations are intense there. Between disagreements and reservations observed during the work of the panel and the Council of Ministers with a view to submitting a consensual…

Cryptocurrencies have been driving the local and international news of recent times. They are on everyone’s lips, for speculators, they constitute a wonderful vehicle for speculation, but for the political and monetary authorities, the question is more worrying and needs to be debated. In the West African area in general and in my Burkina Faso in particular, the appetite of young people for crypto-currencies even if some do not know enough about it, is increasing day by day. If the system is qualified as a scam system by detractors, it should be noted that the meeting of parliamentarians on the…

An armed attack took place this Monday, August 16, in the village of Darey-Daye in Niger. According to several security sources, the tragedy was committed by armed men who came on motorcycles around 3 p.m. GMT. “They shot people cultivating in their fields,” said a local elected official. This umpteenth attack caused a heavy toll: “there were 37 deaths, including four women and thirteen minors”. According to a journalist from the region, this attack is considered “very bloody”. As a reminder, the village of Darey-Daye, located 40 km east of the town of Banibangou, has already been the target of…

120,000 CFA Francs in one go. This is the amount each of the 22,000 vulnerable families targeted in the city of N’Djamena will receive. Objective, to help them cope with the socioeconomic consequences of the COVID -19 pandemic. The operation, which will be launched today, August 17, 2021, is being carried out as part of the Refugee and Host Communities Support Project (PARCA) supported by the World Bank. The overall amount mobilized for this financial assistance is approximately three (3) billion of our CFA francs. For the Minister of the Economy, Development Planning and International Cooperation, Issa Doubragne, the aim…

Negotiations have accelerated in recent weeks in Lomé, the Togolese capital, and resulted in the government announcing the sale of BTCI, the Togolese Bank for Commerce and Industry, to IB Holding de homme Burkinabe businessman Mahamadou Bonkoungou. The culmination of this process launched several years ago comes following the withdrawal of the favorite, the Agir consortium, led, among others, by the Ivorian banker Charles Kié and the Beninese entrepreneur Oscar Daaga. Thus, on Wednesday August 11, 2021, the Council of Ministers of Togo announces that it has adopted a draft decree setting the terms and price for the sale of…

The indicators of tourism activity in Tunisia continued their downward trend, in particular for the flow of foreign tourists which experienced a drop of 75.8% during the first quarter of 2021 against -16.6% a year earlier, according to the Central Bank of Tunisia (BCT) based in Tunis. According to the Tunisian Emission Institute, these indicators covered 258,500 visitors. << This decrease concerned the different nationalities, in particular, European tourists (-80.9% against -29.6% in 2020), like the French (-79.7% against-22.4%) , the English (-93.4% against -67.6%) and the Germans (-85.3% against -34.8%) >>, adds the services of the BCT. Likewise for…

The Heads of State of the Economic and Monetary Community of Central Africa (CEMAC) will hold by videoconference on August 18, 2021, an extraordinary summit primarily devoted to “the evolution of the macroeconomic situation in the CEMAC zone in the context of the pandemic of Covid-19 and the analysis of remedial measures ”. The event initially planned face-to-face in the Cameroonian capital Yaoundé, will ultimately take place by videoconference, “not only for reasons related to the health crisis, but also for timing reasons” indicate sources familiar with the matter. However, the initial format remains maintained, with alongside the leaders of…