Author: Albert Savana

According to information from Financial Afrik, Emmanuel Macron will go on an official trip to South Africa at the end of May. This visit, which is part of an African tour that should also take him to Rwanda. The largest trading partner south of the Sahara, South Africa is a strategic partner with plans to inject more than $ 5 billion into its post-covid recovery plan. Paris intends to capture its share of the pie while its market share continues to fall. From 966 million € in 2015, the balance of its trade represents only 328 million € in 2019.…

The company “Gaz Ivoire”, a subsidiary of the Moroccan group Akwa group, on Wednesday 5 May opened its first gas filling center in the region of San Pedro (southwest of Côte d’Ivoire). With a storage capacity of around 30,000 tonnes and developed over an area of ​​3.7 hectares, the gas infrastructure required an investment of more than USD 16 million. According to the administrators, this center, which will be supplied by tanker truck from the storage terminal in Abidjan, will cover a filling capacity of 60,000 tons annually, or 36,000 bottles per day. “Butane gas is a clean energy, its…

The flagship of the Mauritanian economy, the Industrial Mining Company (SNIM) made a profit of 579 million USD in 2020, against 288 million USD in 2019. This is what emerges from a note published a few days ago by the company . For its part, turnover stood at 1.2 billion USD, up 39% from 2019 (880 million USD). This improvement will have enabled SNIM to improve its contribution to the Mauritanian economy. In 2020, 10% of the Mauritanian state’s budget revenue comes from the sale of iron ore from the company, which alone provided 43% of the country’s exports. Created…

The South African telecommunications operator MTN announced this Wednesday, May 5, an increase of 18% of its turnover in the first quarter. This performance was driven by double-digit growth in the group’s commercial operations in South Africa, Nigeria and Ghana. “The overall group results were supported by double-digit service revenue growth in our major operations and a continued focus on our spend efficiency program. We are encouraged in particular by the strong performance of MTN South Africa, as well as the acceleration of data and fintech services across the group during the period, ”said the group chairman and CEO, Ralph…

On March 11, 2020, the World Health Organization officially declared the coronavirus crisis a pandemic. In March 2021, a year later, Janssen’s single-dose vaccine is added to a long list of vaccines already available in the West and Asia. On the continent, South Africa is set to produce vaccines and the regular deliveries made possible by the WHO COVAX initiative are making headlines. This information makes it possible to calmly consider the recovery of the economy despite some dysfunctions in places, especially in Europe. The crisis of confidence is the biggest challenge of the recovery and to meet it, it…

Galiano Gold announced on May 3, 2021, the acquisition of all the shares of ABG Mali, a subsidiary of Barrick Gold, for an amount of 1.5 million USD. This acquisition comes after the launch of its first exploration work at the Asumura project in Ghana. The ABG Mali property covers more than 167 km² and includes four exploration permits, according to a statement from the company which currently operates and manages the Asanko gold mine (Ghana), jointly owned with Gold Fields Ltd. This new acquisition “is a small but significant step for Galiano. We believe the properties hold great promise,…

The Ivorian banker who has been operating in the Indian Ocean in recent years shares a different perspective on the banking world in Africa. A look that starts from the evolution of relations between bankers and clients which would benefit from being demystified so that “everyone finds what they are looking for”. On the sidelines of the inauguration of a new branch of the Bank for Industry and Commerce of Comoros (BIC-Comores), a subsidiary of Atlantic Financial Group, Gervais Atta receives in his office decorated at the same time sober and elegant. Despite this inauguration with great fanfare, which saw…

In its report on sustainable development published on Tuesday, May 4, the mining operator Perseus Mining Limited announces that it has made an investment of 385 million USD in 2020 for its gold mines of Sissingué (north) and Yaouré (Center) in Côte d ‘Ivory and that of Edikan in Ghana. The company also notes an increase in community investments of 71% to reach approximately USD 1.9 million in 2020. “Despite the challenges the past year has brought, Perseus’s sustainability program has continued to strengthen and evolve alongside its expanding operations. Our large-scale efforts and engagement with our local communities and…

Already indicted for several economic and financial crimes and placed under judicial supervision, ex-President Mohamed Ould Abdel Aziz also faces a defamation complaint. Relieved by the words of the former raïs who accuses them of corruption, parliamentarians have just lodged a defamation complaint through their lawyers, in this case Masters Mohammadi Baba, Mohamed Ould Ely and Diagana Ibrahima. During a press conference organized on April 28, 2021, Mohamed Ould Abdel Aziz had suggested that the deputies subscribed to the parliamentary inquiry into his governance which covers the period 2008-2019, because they had been bribed to the tune of 300 million…

The State of Guinea-Bissau, through the General Directorate of the Treasury and Public Accounts, has, for the third time, raised on May 4, 2021 on the financial market of the West African Monetary Union (WAMU) an amount of 22 billion FCFA (33 million euros) at the end of its issuance of 5 and 7-year Treasury stimulus bonds (ORD), organized in partnership with the UMOA-Titres Agency based in Dakar. In total, the Bissau-Guinean authorities have raised 61.6 billion FCFA since March 9, 2021. The issue of ODRs which is launched by the UMOA-Titres agency in collaboration with the Central Bank of…

Allianz is now the majority shareholder of Jubilee General Insurance Limited in Kenya following the acquisition of a 66% stake (representing 1,522,622 ordinary shares) from Jubilee Holdings Limited (JHL). As a result, one of the world’s leading insurers and asset managers takes control of East Africa’s largest insurance group. The latter retains the blocking minority, ie 34% of the company’s shares. This acquisition follows the execution of the agreement signed on September 29, 2020, in which Allianz agreed to acquire in the short term a majority stake in the Non-Life activities of JHL in five African countries, namely the Kenya,…

After a loss of 3.612 billion FCFA (5.418 million euros) at the end of the 2019 financial year, the International Bank for Trade and Industry of Côte d’Ivoire (BICICI), a subsidiary of the French banking group BNP Paribas, returned to profitability, achieving at the end of fiscal year 2020 an after-tax profit of 4.672 billion FCFA (7.008 million euros), announced the managers of this banking establishment based in Abidjan. However, it should be noted that BICICI is still struggling to achieve the profit for the 2018 financial year with an achievement of CFAF 9.793 billion. The performance of the banking…

The State of Togo, through its General Directorate of the Treasury and Public Accounts, raised on April 30, 2020 on the financial market of the West African Monetary Union (UMOA) an amount of 22 billion FCFA (33 million euros) at the end of its 5-year Treasury stimulus bond issue (ORD), organized in partnership with the UMOA-Titres agency based in Dakar. initiated by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO), the issuance of ODRs aims to allow the issuer to mobilize the savings of individuals and legal entities in order to ensure the financing…

The mobile operator Nexttel, a subsidiary of the Vietnamese group Viettel, has a new managing director Benoît Yaoussou, following a decision by the board of directors. A former consultant within this company, he takes over the management of a company whose social climate has been disrupted in recent months because of the repetitive strikes initiated by the National Autonomous Union of Workers in New Information and Communication Technologies. (Syntic). The act of appointment signed by Baba Danpullo, Chairman of the Board of Directors of Viettel specifies that “Mr. Yaoussou Benoît, whose post is based in Douala, will carry out his…

Mali currently has gold reserves estimated at around 703 tonnes, according to the Ministry of Mines. The country’s industrial production reached 65.2 tonnes in 2020, according to data collected from mining companies. The estimate of 703 tonnes can thus allow all companies in the country to together produce 65 tonnes of gold per year until at least 2031, even if no new gold discoveries are observed. However, the country’s gold potential remains significant, as evidenced by the results of exploration work carried out at Diba (Altus) or Dandoko (Oklo). As a reminder, Mali claims third place among producers on the…

The turnover of the Sonatel group (National Telecommunications Company) of Senegal, which includes subsidiaries in Mali, Guinea, Guinea-Bissau and Sierra Leone, increased by 9.9% in the first quarter of 2021 compared to the same period of 2020, announced the leaders of this Dakar-based telecommunications company. This turnover increased from 274.10 billion FCFA in the first quarter of 2020 to 314.20 billion FCFA during the period under review, an increase of 28.4 billion FCFA in absolute value. According to Sonatel officials, “this good growth is mainly driven by Retail (data, orange money and fixed line services) in all countries and mainly…

At the Berkshire Hathaway fund’s general meeting held on Saturday, May 1, attention was no more focused on the first quarter results of this famous structure, marked by a profit of 11.7 billion dollars albeit with performance. less than those of the S&P 500, that its founder, appeared in videoconference with his collaborators. At 90, Warren Buffet remains the most popular investor in the stock market thanks to his wise advice. For this vintage, his word has focused on fashionable instruments. Mute on the Bitcoin on which he was arrested, the oracle of Omaha was harsh on Robinhood, these platforms…

The Prime Minister of the Democratic Republic of Congo (DRC), Jean-Michel Sama Lukonde, promised the delegation of the Générale des Carrières et des Mines which he received on Thursday April 29 in Kinshasa to “do everything so that Gécamines is developing and prospering ”. A company of which the head of government was himself the managing director. He “reassured us by saying that Gécamines being a state enterprise, it is the backbone of the economy of this country. He will do everything to ensure that Gécamines develops, prospers and contributes to providing solutions to the challenges that will arise, “Albert…

After a loss of 3.517 billion FCFA (5.276 million euros), Nestlé Côte d’Ivoire, a subsidiary of the Swiss Nestlé group and specializing in the manufacture of food products, made a real comeback at the end of the 2020 financial year by realizing an after-tax profit of 20.899 billion FCFA (31.349 million euros), announced the leaders of this company based in Abidjan. Turnover rose from 156.103 billion FCFA as of December 31, 2019 to 175.021 billion FCFA in 2020, an increase of 12.11%. Nestlé Côte d’Ivoire’s charges were slightly reduced by 0.98% to 123.259 billion FCFA against 124.480 billion FCFA a…

Following the closing of the accounts for the 2020 financial year of the pan-African banking group Oragroup during its Board of Directors, Oragroup is starting 2021 under good auspices. The banking group announces in the first quarter of 2021, an increase in net income of 314%, or 2,664 billion CFA francs in view of a moderate economic recovery in sub-Saharan Africa. In fact, deposits from customers of the entire Orabank network, which amounted to 2,261 billion CFA francs, justify an increase of 25%. As are net customer loans which show an increase of 10% to reach 1675 billion CFA francs.…

A new era is opening for the Inter-African Conference on Insurance Markets (CIMA) with the entry into office of the new secretary general of this institution. Appointed in December 2020 as the head of the insurance sector regulator in West and Central Africa, Cameroonian Blaise Ezo’o Engolo officially took office at the end of April 2021 at the institution’s headquarters in Libreville, Gabon. While it is true that this is a change in continuity as noted by Nicole Jeanine Lydie Roboty Mbou, Gabonese Minister of the Economy in the presence of Calixte Nganongo, Congolese Minister of Finance and Budget, representing…

ABIDJAN, Côte d’Ivoire, 29th April 2021 – Adenia, a private markets investment firm in Africa, today announced that it has finalized the sale of its 100% equity stake in Ademat to SPE Capital, a private equity firm focused on Africa and the Middle East. Founded in Abidjan in 1983, Ademat is the leading provider of power security solutions in Côte d’Ivoire. It provides a wide range of technical solutions for companies in various industries, including telecommunications, financial services, manufacturing, healthcare and hospitality. Since acquiring Ademat in September 2016 through its Adenia Capital (III) fund, Adenia has implemented a series of strategic value…

The State of Burkina Faso, through its General Directorate of the Treasury and Public Accounts, raised on April 28, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 66 billion FCFA (99 million euros) at the end of its issuance of 3 and 5-year Treasury stimulus bonds (ORD) organized in partnership with the UMOA-Titres Agency based in Dakar. Launched by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO), the issuance of ODRs aims to allow the issuer to mobilize the savings of natural and legal persons with a…

The international partners of the Democratic Republic of Congo (DRC) have, in a joint statement released Tuesday, April 27 in Kinshasa, assured of their support the government of Prime Minister Jean-Michel Sama Lukonde, invested Monday by the National Assembly. “As international partners, we assure the new government of our support for the implementation of reforms reflecting the will of the Congolese people and the improvement of the socio-economic situation to which it aspires”, declared Germany, Belgium, Canada, South Korea, Spain, United States, France, Greece, Italy, Japan, Norway, Netherlands, Portugal, United Kingdom, Sweden, Switzerland, the Czech Republic and the European Union.…

For the four knights of American tech, the social distancing born of the coronavirus pandemic is rather a godsend. The apple brand led by Tim Cook surpassed $ 100 billion (exactly $ 111.4 billion) in quarterly earnings for the first time. By the way, Apple, which has seen its sales soar by 26%, is doubling Samsung for the very first time, too, driven by sales of the iPhone 12, which is compatible with 5G. The American giant has sold 82 million smartphones against 62 million units for its Korean competitor. Likewise, Amazon has for its part exceeded 100 billion in…

French Minister of the Economy, Finance and Recovery, Bruno Le Maire is in Abidjan from Thursday April 29 to Friday April 30 to take stock of economic cooperation between Côte d’Ivoire and France. On the menu for this visit, “the minister will discuss with the President of the Republic of Côte d’Ivoire, Alassane Ouattara and meet with Patrick Achi, Ivorian Prime Minister. They will discuss bilateral economic cooperation as well as the Summit on the financing of African economies to be held in Paris on May 18, ”informs French diplomacy. In addition, the Abidjan Metro project, funded by France and…

Bénin Terminal signed a partnership agreement in Cotonou on 1 April 2021 with the Beninese start-up Green Keeper Africa. The aim is to roll out GKSORB, the first industrial absorbent produced in Africa using hyacinth water, at its facilities at the Port of Cotonou. A specialist in innovative and natural pollution-control solutions, Green Keeper Africa has committed to supplying Bénin Terminal over the next two years with 100% organic absorbents to effectively control and manage accidental liquid leaks at the container terminal. As part of the partnership, Green Keeper Africa will train Bénin Terminal employees on eco-responsible practices. The start-up…

Following the protest of exporters grouped within the Ivorian traders group (GNI), to denounce the hand of multinationals on the purchase of almost all cocoa beans, the government, through the Coffee and Cocoa Council (CCC ) would like 20% of these giants to go to local exporters. A decision previously trampled despite the texts that govern the sector. If the measure is applied, nearly 450,000 tonnes of cocoa beans will now be allocated to local exporters, which will allow them to cope with their cash flow hard hit by Covid-19 and its effects. Speaking to Reuters, a source working at…

The African Development Bank (AfDB) will support Mali in the creation of agropoles or Special Agro-Food Processing Zones (ZSTA) in the large production basins of the Ségou and San regions (conflict zones) and Koulikoro and Sikasso ( areas of insecurity) to better enhance its past investments, and create more added value, decent and sustainable jobs for women and young people, according to the Country Strategy Paper (CSP 2021-2025) published on April 19 2021. In a press release published on April 27, the institution predicted that Mali should thus experience an increase in the number of SMEs and SMIs created in…

Ivanhoe Mines Energy announced on Monday April 26 that it had signed a memorandum of understanding with the National Electricity Company (SNEL) for the modernization of turbine 5 of the Inga II hydroelectric dam in Kongo Central province ( north-west of DR Congo), as part of the renovation of the Mwadingusha hydroelectric plant to supply its future Kamoa-Kakula copper mine. “This public-private partnership will allow the mining company to obtain the 162 MW of power produced by Inga II to power the Kamoa-Kakula copper complex and its associated processing plant, both currently under construction. This new power supply agreement is…