Author: Albert Savana

Mali’s credit profile (Caa1 stable) reflects low income levels and weak economic diversification, which limits its ability to absorb economic shocks, Moody’s said in a report dated April 19, 2021. In addition, an increase the share of short-term domestic debt has increased liquidity risks over the past five years. The political risk remains high, due to the difficult security situation and the fight against violent extremism, which is a long-term constraint on the sovereign’s credit profile. In addition, the country’s institutional and governance indicators are very weak. Economic growth is expected to accelerate in 2021 despite a triple shock in…

Antananarivo- April 19th, 2021. A consortium led by Axian signed an agreement with Millicom regarding the sale of its shares in Tigo Tanzania and Zantel in Zanzibar. Completion of the transaction is subject to customary closing conditions and regulatory approvals. The Axian-led alliance brings together distinguished experts in mobile communications, who have created and developed industry-leading brands in the Indian Ocean, Africa. Axian Group is a recognized pan-African infrastructures and services champion with strong entrepreneurial values and culture. Axian focusses on long-term investments in Financial Services, Energy, Real Estate, Telecom and Innovation across Africa and the Indian Ocean. Axian Telecom…

After three successful issues of Treasury stimulus bonds (ORD) with amounts varying between 22 and 40 billion FCFA, the State of Togo, through its General Directorate of the Treasury and Public Accounts, has moved upmarket, by obtaining on April 16, 2021 on the financial market of the West African Monetary Union (WAMU) an amount of 82.500 billion FCFA (123.750 million euros) at the end of its simultaneous issuance of ODRs with a maturity of 5 years, 7 years and 10 years. The exceptional nature of this issue is also due to the maturity of the securities issued, which ranges from…

In these lean times, Cameroon’s Minister of Economy and Finance, Louis Paul Motaze, continues to clean up the state’s payroll file by focusing on the cases of deceased civil servants who continued to receive their salaries. Almost 8.3 billion FCFA will have to be recovered from them. As of January 31, the Public Treasury received 12.6 billion CFA francs from the bank accounts of the deceased. Some banks such as BICEC and SCB Cameroon only gave in after much pressure. Other financial institutions hint at a forceps collection operation. The Cameroon Postal Services had previously opposed the State to pay…

Everybody talks about it. Rapper Nas real name Nasir Jones is one of those who hit the jackpot following Coinbase’s IPO. The artist had invested in the cryptocurrency trading platform between $ 100,000 and $ 500,000 in 2013 through his investment firm QueensBride. The rapper was well inspired. Because, Coinbase was valued at 86 billion dollars from its first day on Wall Street, Wednesday, April 14, 2021, erasing the previous record of 81 billion set by Facebook in 2012. Friday, the title was trading at 339 dollars, which makes estimate the rapper’s fortune between 40 and 206 million dollars. The…

After a series of sanctions taken by the Biden administration in connection with accusations of Russian interference in the 2020 US presidential election, espionage and cyberattacks, Moscow, which had promised to retaliate, unveiled in turn on Friday April 16, a series of retaliatory measures against the United States. Washington had notably announced the expulsion of ten Russian diplomats, sanctions against several Russian personalities and organizations as well as the prohibition by the American Treasury on American banks to buy directly sovereign debt issued by Russia after June 14, 2021. The objective of the United States being to cool the ardor…

The after-tax profit of the Société de sucre de Grand Béréby (SOGB) recorded a sharp increase of 3.132 billion FCFA (4.698 million euros) at the end of the 2020 financial year compared to the 2019 financial year, the executives announced. of this company based in Cassandra in Ivory Coast. This profit amounted to CFAF 7.652 billion as of December 31, 2020 against CFAF 4.520 billion as of December 31, 2019, a sharp increase of 69.29%. According to company officials, the increase was due to a 7% increase in rubber sales and a 26% increase in palm oil sales. SOGB’s turnover…

Minister Delegate since July 2020 to Prime Minister Jean Castex, in charge of Gender Equality, Diversity and Equal Opportunities, Elisabeth Moreno is helping to create a future think-tank responsible for reflecting on the policy of France in the matters covered by his department such as the fight against discrimination, the place of Islam in France but also the African policy of France. Chaired by entrepreneur Patrick Ducrot, this structure called “Cercle Nouvelle France” is placed on the baptismal font one year before the presidential election. It should provide the minister from Tarrafal in Cape Verde, a city infamous for having…

While Washington and Brussels are looking for each other through stimulus plans and unclear vaccine strategies, Beijing is showing a vigorous trend at the end of the first quarter of 2021. The current recovery in Chinese growth, the result of a successful strategy against Covid- 19, is the product of its domestic demand, its turbo and main support in times of restriction of world trade. With 1.4 billion inhabitants, or 18.7% of the world population, the Middle Empire saw its GDP jump by 18.3% at the end of the first quarter of 2021, a level not recorded since 1992, at…

The United States has injected USD 38 million into the “Elimu ni jibu ya USAID” project (which means “education is USAID’s response” in French), launched by its ambassador to the Democratic Republic of Congo, Mike Hammer, Wednesday April 14 in Bukavu, in the province of South Kivu. This 5-year project, which is part of a “cooperative agreement”, aims to improve the well-being of populations affected by conflicts and crises through increased access. inclusive, quality and gender-sensitive education services, strengthening the resilience of individuals and communities through education and improving collaboration between education stakeholders. Secondly, the “Elimu ni jibu ya USAID”…

By appointing the economist Kako Nubukpo, on April 14, within the new commission of the West African Economic and Monetary Union (UEMOA), the sub-regional body sends a strong signal within the framework of the reform that should lead to the emergence of the Eco, the new West African currency, in all ECOWAS countries (Economic Community of West African States). For several years, the former Togolese Minister of Foresight, appointed on the proposal of President Faure Gnassingbé, has been engaged in an anti-CFA franc crusade. We owe him several brulots, including Economic Improvisation in West Africa, published in 2011 by Karthala,…

The State of Mali will proceed, on April 20, 2021, to the payment of annual interest and the partial repayment of the capital of its bond loan called “State of Mali 6.50% 2017-2024” for an amount of 25,200 billion FCFA (37,800 million euros), announced the officials of the Regional Stock Exchange (BRVM) based in Abidjan. Interest amounts to 5.200 billion FCFA and the capital to 20 billion FCFA. By decree dated March 03, 2017, the Malian Minister of Economy and Finance had authorized for a period of 21 days, from March 23, 2017, the issue by the National Directorate of…

The West African Economic and Monetary Union (UEMOA) Commission has a new president. This is Senegalese Abdoulaye Diop, who takes office on May 8, 2021, when the term of office of outgoing President Abdallah Bouréima expires. Who himself announced this Wednesday April 14 through a press release. This new appointment comes following the 22nd ordinary session held by videoconference on March 25, 2021, where the Conference of Heads of State and Government of WAEMU “decided to entrust the presidency of the WAEMU Commission to the proposed candidate. by the Republic of Senegal and instructed that the appointment of the members…

In Mali, the government adopted a draft decree approving amendment n ° 1 of a contract relating to the supply, installation and commissioning of hybrid photovoltaic plants. diesel in the localities of Diondiori, Diafarabé and Kokry in the Mopti region located in the center of the country. “The amendment is concluded between the government of the Republic of Mali and the group (Sagemcom Energy and Télécom-Mali Sarl) for an amount of 148.297 million F CFA and an additional execution period of 20 weeks”, specifies a press release from the Council of Ministers. According to the Malian government, the agreement reached…

Somali President Mohamed Abdullahi Mohamed (59) has promulgated a special resolution extending for two years his term expired on February 8, 2021 as head of the country. The announcement was made on Wednesday April 14 by national radio. This new act of the president nicknamed Farmajo (which means “cheese”) comes two days after the adoption of this resolution “unanimously by parliament”, said Radio Mogadishu. Even if for his part, the President of the Senate had expressed his disagreement, deeming the text “unconstitutional”, the resolution was promulgated without going before the Senate, as provided for in the legislative process. The new…

The International Court of Justice (ICJ), a UN judicial organ sitting in The Hague, the Netherlands, whose decisions in this matter are irreversible, will rule definitively on the territorial dispute between Gabon and Equatorial Guinea. For lack of consensus, the two neighboring countries, members of the international community and members of continental and regional groupings have decided to bring their border dispute to international justice on the subject of the property of the Mbanié, Cocotiers and Conga islands. Competent to judge territorial disputes between the States, the ICJ was seized so that the law is said on this subject which…

Nicolas Kazadi has been appointed Minister of Finance in the government of Prime Minister Sama Lukonde. Close to Felix Tshisekedi of whom he was, until his appointment as Goodwill Ambassador, Nicolas Kazadi will be the pivot if not the central hinge of the government team called “Wariors” by the Prime Minister. Enarque, an economist by training, Nicolas Kazadi is a former international civil servant who worked at the African Development Bank (AfDB) and at the UNDP where he held important positions. In the current configuration, Nicolas Kazadi will have the heavy task of applying the policy initiated by President Félix…

Kribi Conteneurs Terminal (KCT) took delivery on 13th April 2021 of a new mobile crane intended for ship handling operations. The new equipment boosts the dock-handling capacity of the concessionary of the Port of Kribi container terminal. With a 100-tonne lifting capacity, the wheel-mounted Gottwald 8412 crane is able to handle two 20‑feet containers at the same time. The crane’s projection capacity extends to the 20th row of containers on board ships, where it can lift 41 tonnes. As efficient as a dock gantry, this mobile crane offers a productivity of +/- 25 container movements. It will allow to reduce by…

In Mali, Sidi Brahim Ould Sidatt, president of the Coordination of Azawad Movements (CMA), succumbed to his injuries. The leader of the rebel groups that signed the peace accord resulting from the Algiers process was seriously injured early this morning as he left a mosque in a suburb of Bamako. “We have just lost our president Sidi Brahim Ould Sidatt assassinated this morning in Bamako. May Paradise El Ferdaous be his eternal home, ”reacted Almou Ag Mohamed, spokesperson for the CMA. It is an attack carried out by two unidentified armed individuals, according to several official sources. “I strongly condemn…

While Europe, including France, remain entangled in the management of the Covid-19 pandemic, China is stepping up to cover Africa with its two vaccines approved by the World Health Organization (WHO) – Sinopharm and SinoVac – as part of a large campaign targeting some 70 developing countries around the world. In recent weeks, some fifteen states on the continent have received several hundred thousand of Sinopharm’s vaccine, which has a protective efficacy of 79.34%. Deliveries take the form of donations, thus serving as a true diplomatic offensive of the Middle Empire. On March 24, Mauritania received 50,000 doses of this…

The Malian Solidarity Bank (BMS) achieved a record net income of 10.454 billion CFA francs for the year ended December 31, 2020, against 6.865 billion CFA francs in 2019, an increase of more than 50%. Figures communicated on April 12, 2021 during the 68th ordinary session of the Board of Directors. “Despite the health crisis, the total balance sheet of the Malian Solidarity Bank rose from 841 billion CFA francs in 2019 to 1,004 billion CFA francs in 2020, an increase of 19.38%. We are recording unparalleled performance on all indicators, “said Ousmane Babalaye Daou, Chairman of the Board of…

The rating agency Fitch Ratings has confirmed the long-term issuer default ratings (IDR) in foreign and local currencies of the Tunisian bank Arab Tunisian Bank (ATB) at “B +”. And this with a stable outlook. In its press release issued Monday, April 12, Fitch points out that “ATB is strategically important to its shareholder and 64.2% parent company, Arab Bank Plc (AB, BB / Negative), based in Jordan, given the strategic orientation of the latter on the Middle East / North Africa region. ATB is one of AB’s largest overseas subsidiaries and fulfills its parent company’s goal of maintaining a…

At the end of a tête-à-tête with the Ivorian Prime Minister Patrick Achi on Monday, April 12, the French Ambassador to Côte d’Ivoire, Jean-Christophe Belliard, reassured France of the need for France to support Côte d’Ivoire in its economic and social development. “I have come to congratulate the Prime Minister on his appointment and to take a tour of the major issues. We are entering a new moment. We can clearly sense a desire to accelerate, to go faster, to go further in the economic and social field in the Ivory Coast. This is the objective of the President of…

The administrators of the Malian Housing Office (OMH) held the 44th ordinary session of the board of directors on April 10, 2021 in Bamako. This is a meeting chaired by Dionké Diarra, Malian Minister of Land Affairs, Town Planning and Housing. At the end of the work, the administrators decided that the 2021 program of activities will focus primarily on finding solutions to the Office’s indebtedness, the pursuit of the direct sale of 1,200 housing units following new, more efficient approaches. , the search for innovative and sustainable solutions to the financing of social housing in order to limit the…

The G20 agreement to extend the debt service grace period for low-income countries offers welcome, but only short-term, pandemic-related relief, given the prospect of higher future repayment of debt and over-indebtedness in the medium term. This is the point of view of Scope Ratings. The Berlin-based rating agency believes that the expansion of the Debt Service Suspension Initiative (DSSI) will translate into further short-term savings for the world’s poorest governments, including those in Africa. “These savings are, however, offset by higher payments for medium-term debt service, with perhaps a face amount higher than the amounts initially suspended due to the…

The Côte d’Ivoire subsidiary of SEA Invest intends to strengthen its operational capacity at the autonomous ports of Abidjan (PAA) and San Pedro (PASP) with a new investment of 22 million USD (12 billion F CFA) for a transport project lagoon designed to load larger capacity vessels. “Mining exporters will therefore be able to load bulk carriers with drafts of up to 16 meters, which is the current maximum limit for vessel access in the Vridi Canal, for a loading capacity of up to 150,000 tonnes” , notes the concessionaire of the bulk terminal (which covers 6 hectares and 800…

Sovereign debt defaults hit a record 7 in 2020, with the COVID-19 pandemic and falling oil prices affecting credit quality globally. By the end of 2020, the number of sovereigns rated at the lowest rating levels, ‘CCC +’ and below, had risen to seven, suggesting defaults may remain high for years to come, ”Nick said. Kraemer, Head of S&P Global Ratings Performance Analytics. Sovereign ratings could continue to come under pressure amid the expected massive fiscal and monetary stimulus that will leave substantial debt overhang for several years to come. Suriname was the sovereign with the best profile with a…

The Development Bank of Mali (BDM-SA) held the 72nd session of its board of directors on April 10, 2021 in Bamako. At the end of the work, it emerges that the institution posted a total balance sheet of over 1.5 trillion CFA francs, and a profit of over 20 billion CFA francs at the end of fiscal year 2020. After adoption and examination of the items on the agenda, “the board assessed the specific performance achieved by the leading Malian banking group under the closing of the accounts at December 31, 2020 which ended for the first time in Mali’s…

This operation is part of the strengthening of financial inclusion for poor and vulnerable people, which is the leitmotif of the National Economic and Social Inclusion Agency (ANIES) of Guinea. Supported financially by its partner Societe Generale to the tune of 140,000 USD (or 70% of the project) for the production, Kunfabo will complete the remaining 30% of the financing of the operation for a total cost of 200,000 USD. The startup Kunfabo has developed a new feature phone model called Kunfabo B20. According to the brand, it is a basic, solid and practical model that adapts to its environment…

The State of Senegal through its Public Treasury awarded on April 9, 2020 an amount of 55 billion FCFA (82.500 million euros) at the end of its issue of assimilable treasury bonds (BAT) with a maturity of 182 days on the market. financial institution of the West African Monetary Union (WAMU). These funds raised are part of the strategy of the Senegalese authorities to cover the financing needs of the state budget. For the second quarter of 2021, these authorities have expressed the wish to issue 250 billion FCFA against 225 billion FCFA in the first quarter of 2021, an…