Author: Albert Savana

The Intra-African Trade Fair (IATF 2021) in Durban (South Africa) has succeeded in exceeding the targets of signed trade agreements. This event, which was initially supposed to generate 40 billion dollars, went beyond (42.1 billion dollars), according to the latest statistics published on Monday, November 29 by the advisory council. These data, it is said, took into account additional data submitted by trade promotion agencies in Algeria, Nigeria and South Africa. For Benedict Oramah, president of Afreximbank, these figures reflect “a well thought out platform, the diversity and depth of the goods and services presented and a rich program”. Organized…

The Bank of Central African States (BEAC) supports the promotion of transparency in the insurance sector through the launch of a process of recruiting a consultant for the establishment of a base data for the Inter-African Conference on Insurance Markets (CIMA). The missions assigned to the consultant are mainly to develop a digital platform to facilitate data collection by monitoring control and scoring reports (a risk coverage and pricing decision tool) from insurance companies. The said project supports an experimental version developed internally by CIMA, a complementary module to the digital platform for collecting market data (PFN) intended for monitoring,…

During a lively press briefing on Sunday, November 28 following his Koran reading ceremony, Imam Mahmoud Dicko called for the union and the coming together of Malians in order to save the “sick nation”. So he pleaded for the indulgence of the international community towards Mali. Very political as usual, Imam Mahmoud Dicko, who is visibly seeking to reposition himself on the stage, this time evokes in French his country’s relations with foreign countries, in particular with other ECOWAS member countries. And there, locally, he clearly chooses the camp of the doves against that of the hawks. Imam Mahmoud Dicko…

Cyril Ramaphosa spoke out on November 28, 2021, on the travel restriction measures imposed on South Africans after the detection and announcement of the Omicron variant three days earlier. They represent, according to the South African president, a form of “discrimination against our country”. Indeed, Cyril Ramaphosa considers these measures “ineffective”, and adds that they have “no scientific justification”. “We are deeply disappointed. We call on all countries that restrict travel to urgently reverse their decisions before these measures cause further damage to our economies and the incomes of our people. ” Addressing his compatriots, the South African president was…

By ABASHI SHAMAMBA Driven by a contraction in demand for currencies on the foreign exchange market and an explosion in transfers of MRE ($ 9 billion expected at the end of December), the price of the Moroccan currency against the euro and the dollar is approaching the lower limit of its fluctuation band. Not at all worried, the Central Bank (Bank Al-Maghrib) sees it as a weapon to counter imported inflation. Moroccans who receive money sent by their parents residing in Europe, the United States or MRE resettled in Morocco who receive their pension from abroad, have observed this for…

The short protective seizure of Air Côte d’Ivoire on November 22, 2021, on the tarmac at Bamako airport, suffered procedural consequences and chin strikes between Abidjan and Bamako. The eponymous company opened a statement saying that it is foreign to the BNI Gestion affair. The Ivorian government subsequently issued a press release by Amadou Coulibaly, Minister of Communication, Media and Francophonie, government spokesperson, expressing its “surprise” at the unfolding of events, believing that all arrangements will be made. to “prevent such assaults from recurring”. And the press release (published strangely with the letterhead of the Ministry of Agriculture) to prosecute,…

More than two months after the fall of Alpha Condé, a corner of the veil is lifting over the barons of the fallen regime. The liabilities of the men who gravitated around the presidential galaxy of the former president, reputed to be a man of networks and close to the lobby of the political and business world, is revealed day after day since the takeover of the country by Colonel Mamadi Doumbouya. After the scandal which splashed the former Congolese Prime Minister under Joseph Kabila, Matata Ponyo, one of the closest ex-advisers of Alpha Condé, pinned by the justice of…

The net income of the Bank Of Africa (BOA) Mali, a subsidiary of the BMCE Bank group, experienced a sharp decline of 52% in the third quarter of 2021 compared to the same period of 2020, announced the managers of this Bamako-based banking establishment. This result fell from 5.787 billion FCFA as of September 30, 2020 to 2.764 billion FCFA as of September 30, 2021, i.e. a decrease of 3.023 billion FCFA. According to the leaders of BOA Mali, this decrease is due to non-recurring products made at the end of the first half of 2020. As for the net…

After the economic recession caused by the unexpected oubreak of the health crisis linked to the coronavirus which continues to impact on activities, the Economic and Monetary Community of Central Africa (Cemac) adopted, during an extraordinary summit of chiefs State on August 18, a regional economic recovery strategy. In this perspective, the Development Bank of Central African States (BDEAC), at the end of the board of directors on November 17, 2021, opened a line of credit of CFAF 185 billion, or $ 316 million with a view to to ensure the financing of new projects. Dedicated funds for eleven projects,…

Togo becomes the first country in sub-Saharan Africa to have a digital Covid-19 vaccination certificate recognized by the European Union, announced a press release from the organization’s delegation in Lomé. The measure, it is indicated, will be effective from this Thursday, November 25. The country thus joins some fifty countries around the world which are now connected to the EU’s Covid digital certificate system, which brings together 27 countries. Concretely, it is specified, Togolese travelers who are fully vaccinated and have the new certificate will now be able to access places subject to presentation of the Covid-19 vaccination certificate in…

The Burkinabè government is mobilizing its partners to finance the second National Economic and Social Development Plan (PNDES-II) 2021-2025. An international conference is planned for this purpose on December 2 and 3, 2021 in Brussels (Belgium), with the World Bank as the leader of the technical and financial partners. This meeting, said a press release, will bring together Burkina Faso’s multi and bilateral partners as well as private investors. The proceedings will be launched by President Roch Marc Christian Kaboré with an opening speech. Prime Minister Christophe Joseph Marie Dabiré will lead the rest of the work, accompanied by a…

This announcement was made on November 23, 2021 following a strategic summit meeting between the shareholders of the SMB / Simandou project and the Guinean Prime Minister, Mohamed Béavogui. The objective was to present the progress of the project and try to reassure the new authorities on the continuation and respect of the schedule of the project of exploitation of blocks 1 & 2 of the iron deposit of Simandou. The ruling junta having announced major reforms in Mines with local content, transparency and the withdrawal of dormant permits as a common thread, Sun Xhiushun and Fadi Wazni tried to…

Major changes have taken place in the shareholding structure of Union Bank of Cameroon (UBC) with a stake of 54% of assets by the State of Cameroon. This reconfiguration of the share capital comes at the end of a recapitalization process started a few months ago, particularly in March, when the public authorities injected 17.8 billion FCFA ($ 30 million) to save this financial institution then under the threat from the Central African Banking Commission (COBAC) which at best planned to place it under provisional administration, if not, to purely and simply proceed with its liquidation by withdrawing all approvals.…

Congolese Presidents Félix Tshisekedi and Zambian Hakainde Hichilema reaffirmed, during a tête-à-tête Tuesday, November 23 in Kinshasa, the need to settle the border dispute at the level of the province of Tanganyika and the pooling of energies and means for the construction of road infrastructures for the good of their respective peoples. In front of the press, the Congolese head of state announced that it will be launched shortly on the disputed places on a date to be agreed, the work of the joint commission bringing together experts from the two countries in order to boost the quest for a…

As revealed exclusively by Financial Afrik, an Air Côte d’Ivoire aircraft was immobilized on the tarmac at Bamako airport in response to the Oumar Diawara -BNI Gestion affair on the front page of our last issue. For an hour and 15 minutes, negotiations went well to free the aircraft, an Airbus, from the precautionary seizure made by the counsel of businessman Oumar Diawara in execution of a judgment recently rendered by the Court. Justice of ECOWAS. In its argument against the precautionary seizure, Côte d’Ivoire considers that the company that owns the aircraft, Air Côte d’Ivoire, is not the exclusive…

The National Union of Banks, Insurance, Microfinance, Financial Institutions and Commerce of Mali (Synabef) implemented its 72-hour strike notice from Tuesday, November 23 throughout the country. A widely respected slogan. This time, the strike concerns the banks, the pump attendants of the service stations of the multinationals Total, Shell and Oryx, and the service providers of the Pari Mutuel Urbain (PMU-Mali). The movement seems to be largely followed by banks, financial institutions and gas stations, with the exception of the Development Bank of Mali (BDM-SA). Report A tour through the city of Bamako highlights the atmosphere that reigns in front…

The International Exhibition of Information and Communication Technologies dedicated to Africa (SITIC AFRICA), the first five of which were held in Tunisia, will settle for a five-year period in Côte d’Ivoire. The sixth edition of the event will therefore be held in Abidjan from February 22 to 24, 2022, the organizers inform. “Towards innovative digital instruments” is the theme chosen for this edition during which 500 sector experts will work on Fintech, E-Health, E-Industry 4.0, Training 4.0, E-Agriculture… Etc. This, in order to find innovative solutions to make African companies models of resilience and efficiency in the face of economic…

The volume of transactions via electronic money accounts stood at 1.74 billion transactions valued at 20.451.66 billion CFA francs between July and December 2020, according to data in the latest monitoring report of the means and services of payment published by the BCEAO Payment Systems and Means Directorate. These figures represent increases of 50% in volume and 65.65% in value compared to the first six months of the year (1.16 billion transactions for 12.346.56 billion FCFA). According to the document, the number of intra-UEMOA transactions stood at 7.32 million for a value of 344.39 billion CFA francs at the end…

The mobile telephony market in the Democratic Republic of te Congo recorded a turnover of 415 million USD during the second quarter of 2021, reports the Regulatory Authority of Post and Telecommunications in Congo (ARPTC) through the Observatory of the mobile telephony market. It notes an increase of 4.5% compared to the previous quarter. In the rankings, the operator Vodacom, the leader, comes first with 149 million USD in revenue compared to 148 million in the first quarter of 2021, a variation of 0.51%. Airtel is second with revenues of 139 million USD, against 126 million between January and March…

The recourse on the international securities market through the issue on November 17, 2021 by Gabon of a bond loan of 800 million dollars, or 458 billion CFA francs, is variously appreciated by financial and economic analysts. With a maturity of 10 years for an interest rate of 7%, the funds raised through this loan are intended for the early redemption of more than 90% of the remaining outstanding amount of the issue of $ 736 million. , (420 billion CFA francs) of 2013 which expires in 2024. For the Gabonese authorities, the mobilization of this fund with international investors…

Already heavily sanctioned by the Economic Community of West African States (ECOWAS), Mali is now on the blacklist of the European Union, its main donor. The Europe of 27 blames the Malian transition for its deal with the Russian paramilitary company Wagner. On September 20, the head of European diplomacy, Josep Borrell, warned Mali that the involvement of the Russian group Wagner would seriously affect relations between Bamako and the European Union. And as if European pressure was not enough, US Secretary of State Antony Blinken on Saturday warned the Russian group of mercenaries Wagner against interference in Mali, calling…

Gabon has just closed a Eurobond of 800 million USD or 458 billion XAF at 7% interest rate for a 10-year maturity. The transaction closed on Wednesday, November 17 on the international financial market. This is a much more expensive loan than those made by the Ivory Coast, Benin and Senegal. In February 2021, Côte d’Ivoire had mobilized $ 800 million at a rate of 4.3% for a maturity set in 2032. Last July, Cotonou raised a loan of 500 million euros maturing in 2035 at a rate of 4.95%. Previously, in June 2021, Dakar had done the same, mobilizing…

The Uniplaques Consortium has proposed to the Congolese authorities since last July the registration of the country’s car fleet estimated at 8 million (all types of vehicles) in the capital, Kinshasa, one of the most populous cities in Africa. If the proposal is accepted, the DRC would have a kind of physical and techno-digital one-stop-shop nationwide for the automobile. The solution would be accessible to every citizen across the country (26 provinces). At the end of the process, the vehicle division of the DGI will be transformed into a modern Single Window Automobile through a Public Private Partnership (PPP) contract.…

From our Special Envoy in Durban, Issouf Kagamate The 2021 edition of the Intra-African Trade Fair ended this Sunday, November 21 at the Durban international Convention Center in Kwazulu, South Africa. Despite a Covid-19 context that has strained African economies, the event recorded nearly 11,800 visitors, 46 countries represented and $ 36 billion in contracts were concluded, according to Kanayo Awani, general manager of the Commercial Initiative intra-African to Afreximbank. A record compared to the first edition in which nearly 7,000 participants took part. The first economy of Uemoa, Côte d’Ivoire will fall under the third edition scheduled for 2023…

The turnover of the Company of Studies and Works for West Africa (SETAO), a subsidiary of the Bouygues group specializing in consulting and engineering services in the construction industry, was down by 1.719 billion FCFA (2.578 million euros) in the third quarter of 2021 compared to the same period of 2020, according to data established by the leaders of this Abidjan-based company. This turnover stood at 7.706 billion FCFA against 9.425 billion FCFA as of September 30, 2020, a decrease of 18%. As for the operating result, it increased from 89.319 million FCFA to 1.357 billion FCFA against 1.268 billion…

The after-tax profit of Nouvelles éditions ivoiriennes –Centre d’éditions et de diffusion africaines (NEI-CEDA) recorded a sharp increase of 809.335 million FCFA (1.214 million FCFA) in the third quarter of 2021 compared to the same period of 2020, announced the leaders of this company based in Abidjan. This profit fell from 392 million FCFA as of September 30, 2020 to 1.200 billion FCFA a year later due to the strong growth in sales and the control of operating costs. Regarding turnover, it is also up 53%, from 4.697 billion FCFA as of September 30, 2020 to 7.166 billion FCFA a…

From our special correspondent in Durban, Issouf Kamgaté. Wednesday November 17 was Ivory Coast’s day at the second edition of the Intra-African Trade Fair (Iatf) currently being held in Durban, Kwazulu-Natal, South Africa. The Ivory Coast approached this forum in force, attracting a lot of sympathy from the distinguished visitors. This is particularly the case of the former president of the Commission of the African Union, Nkosazana Dlamini Zuma, architect of the AfCFTA with his famous “I have a dream”. Marking a rather long stopping time in front of the Ivorian pavilion, Ms. Zuma appreciated all her admiration for the…

United Mining Supply (UMS) of the SMB Winning consortium, which operates the mining logistics of this group, has been facing a workers’ strike since November 8. This caused a total halt in mining transport activities on these Port 1 and Port 2 sites in Kaboye, but also in Malapouya in the Boké region in north-western Guinea. The strikers’ demands essentially revolve around six (6) points: the rehabilitation of the buses which transported staff to Boké; a 100% salary increase taking into account the categorization by seniority; the strict application of the Mines and Quarry agreement; the outright withdrawal of new…

The African Import-Export Bank (Afreximbank) signed several agreements worth $ 5 billion on the second day of the Intra-African Trade Fair which is being held in Durban from November 15-21, 2021. These agreements cover the sectors of transport, logistics, renewable energies and financial transactions, according to Benedict Oramah, the president of the institution. They aim, according to the Nigerian, to support trade initiatives in order to revive economies hit by Covid 19. In its mission to bring more to commercial activities in Africa, the bank has already set up several mechanisms to facilitate trade between African countries such as the…

The Bakwanga Mining (MIBA), located in the Kasai Oriental province in central DR Congo, is among the priority projects that will benefit from the financial support of the government in 2022, according to an announcement made to the National Assembly by the Prime Minister Sama Lukonde when he presented the 2022 fiscal year finance bill, estimated at 10 billion USD. In September 2020, the company had obtained funding of $ 5 million from the government to pay staff and strengthen production facilities. Already, on February 16, 2020, MIBA had obtained a pledge of funding of 200 million USD to revive…