Author: Albert Savana

The Central African Financial Market Surveillance Commission (Cosumaf) is stepping up initiatives aimed at strengthening the regulatory framework and cleaning up stock market activity and fundraising through public offering in the sub-region . After the decision to ban unauthorized cryptocurrency companies from activity while it consolidates the process regulating this activity, the regulator of the stock market in Central Africa has just knocked its fist on the table. During its ordinary session on October 15, 2021, dealing in particular with the examination of applications for authorization to exercise intermediation activities on the regional market, the Cosumaf college decided to “reject…

Niger’s real GDP growth is expected to rebound to 5.6% in 2021 as the economy recovers from the Covid-19 pandemic. This is forecast by the International Monetary Fund (IMF), which notes that the economic outlook for the current year “remains favorable”, as well as for the medium term. According to the institution, growth is expected to accelerate in 2022 and reach double-digit levels in 2023, boosted by the operationalization of the new pipeline to Benin. The external current account is expected to deteriorate in the short term due to the implementation of large-scale projects with a high content of imported…

The achievement of the common market through the free movement of people and goods remains a concern for the Economic and Monetary Community of Central Africa (CEMAC) considered to be the least integrated part of the continent due to insufficient means of communication and procrastination of States. Compliance with Community Treaties is one of the challenges of the 13th ordinary session of the Standing Commission for Tax and Accounting Harmonization (CPHFC) from November 2 to 4, 2021 in Douala, the objective of which is to strengthen regional integration. These events take place in a difficult context marked by an economic…

After a rate of 3.5% in July and August 2021, the inflation rate in the WAEMU stood at 4.3% at the end of September 2021, according to data from the Central Bank of African States of the west (BCEAO). This is his highest level in over 3 years. According to the institution, the acceleration in the pace of price growth is mainly driven by the “Food” component, whose contribution to headline inflation increased by 0.8 percentage point compared to the previous month. The increase in the “Food” component, which contributes 3.4 percentage points to total inflation, is linked to the…

Guinea: Lanciné Condé, new Minister of Economy and Finance The name of the new Minister of the Economy, Finance and Planning, of the Guinean transition that began on September 5, was unveiled on the night of Friday October 29 to Saturday October 30. This is Lanciné Condé, special advisor to GIZ, the German development agency. The roadmap of the new treasurer will be unveiled at the beginning of the week by the junta, thanks to his official assumption of office. He replaces Mamadi Camara of the ousted Alpha Condé regime in this post. Moussa Cissé, former legal adviser to the…

French President Emmanuel Macron is organizing this Saturday, October 30, an informal meeting between heads of state and European organizations and heads of state and African organizations, at the Palazzo Farnese in Rome, on the sidelines of the G20 summit. The objective of this meeting will be to prepare the EU-Africa Summit which will take place under the French Presidency of the Council of the European Union, in the first half of 2022. The French President indeed hopes that the formation of a new partnership between the two continents, based on the basis of reciprocity, will be a priority for…

A few years ago, Mark Zuckerberg promised to change the name of the parent company of Facebook, of which he is the founder and CEO. The announcement of the change, made on October 28, 2021 after 17 years in business, responds to the group’s ambition to expand Facebook’s reach, and is made in response to accusations against the brand. “The past five years have been a lesson in humility for me and our company in many ways. One of the main lessons I’ve learned is that it’s not enough to make products that people love, ”said Mark Zuckerberg, CEO of…

“Crises and Business Resilience in Africa”. This is the theme of the 9th edition of “CGECI Academy”, the economic forum of Ivorian employers which opened on October 28, 2021 in Abidjan. An opportunity for Côte d’Ivoire to present the strengthening of the public-private partnership as a driver of the resilience of the Ivorian private sector in the face of economic crises such as that of the Covid-19. A GDP of around 400,000 billion CFA francs; a growth rate of 2% instead of the expected 7.2%; an inflation rate that rose to 2.4%; a budget deficit estimated at 5.6%; 500 billion…

In Israel, where he has been staying since October 25, 2021, Felix Tshisekedi spoke, Thursday 28 in Jerusalem, with Prime Minister Naftali Bennett on bilateral cooperation between their two countries. The day before, Wednesday, the Congolese president, who met face-to-face with his Israeli counterpart Isaac Hertzog, told reporters that his visit to Israel is part of strengthening the partnership between the two countries in diverse fields. Insofar as, he stressed, “Israel has achieved performances which constitute a model”. the Congolese head of state insisted on the areas that will count for initiating reconciliations, in particular, infrastructure, security, the environment, agriculture…

Patrimoine Africa, a structure based in Abidjan, announced the launch of a bond loan for an internal fund relating to poultry production called “Fipra-PA 2021”, with the promise of a significant return on investment. “This loan was launched without authorization, in violation of the instruction relating to the public offering for savings within the West African Monetary Union (Uemoa) and the government measure prohibiting illegal financial investments. », Indicates the National Treasury in a press release published this Thursday, October 28. Launched through social networks, this loan aimed to reach a value of 100 million CFA francs with a nominal…

The Société de Limonaderie et brasseries d’Afrique (SOLIBRA) posted an after-tax profit of 15.607 billion FCFA (23.411 million euros) at the end of the first half of 2021, announced the directors of this Abidjan-based company. Compared to the same period of 2020, when it stood at 7.771 billion FCFA, this profit increased 100.8%. The company’s net turnover increased by 35.721 billion FCFA, from 87.415 billion FCFA as of June 30, 2020 to 123.136 billion FCFA as of June 30, 2021 (+ 40.9%). “The company confirms its leadership in the Ivorian drinks market and more particularly in the beer market, its…

An alleged scandal that splashes a big figure in arbitration in Paris. And already resignations. Will the interminable dispute between the Congolese State and the construction company Commisimpex of Mohsen Hojeij since the 1990s have a real twist? While two irrevocable sentences of December 3, 2000 and January 21, 2013 have ruled the dispute between these two parties, a complaint for corruption filed before the Judicial Tribunal of Paris, at the beginning of October, by Me Kevin Grossaman, one of the lawyers of the Congo , intends to update a supposed collusion between the Lebanese-Nigerian businessman and Yves Derains (firm…

Driven by the momentum of its African subsidiaries and despite a decline in its land, the Moroccan incumbent now has an impressive customer portfolio of 73 million mobile subscribers, up 3.3%. At the end of September, consolidated sales amounted to nearly 2.6 billion euros. With an EBITDA margin of 51.6%, the group has one of the very first profitabilities in the sector. Despite a context still marked by the impact of the Covid-19 pandemic on the economy, the Maroc Telecom group was able to maintain performance in the third quarter. In difficulty on its Moroccan bases, it is above all…

On October 27, 2021, the Togolese government announced that it had adopted a preliminary draft amending finance law, fiscal year 2021, projected at CFAF 1,702.7 billion in revenue and expenditure, against CFAF 1,521.5 billion in the law of initial finances. This represents an increase of 11.9%. According to a press release from the Council of Ministers held today, Lomé intends, through this draft amending finance law, “to continue the efforts already undertaken to deal with the fight and the impact of Covid-19 while continuing the efficient implementation of the various projects of the government roadmap ”. This, in a context…

October 25, 2021 marks a decisive step for Nigeria in the popularization of electronic payments with the launch of e-naira, the digital version of its currency. An important phase for the promotion of financial and banking inclusion with multiple challenges, among others, the facilitation of transfers abroad, the support for the local currency which faces a constant depreciation, but also and perhaps more fight the growing influence of cryptocurrencies like bitcoin, whose control remains difficult. Beyond a monetary and financial innovation, the launching ceremony of the virtual currency under the auspices of the President of the Republic, Muhammadu Buhari, explained…

In August 2021, Senegal’s exports increased by 4.8% compared to the previous month, according to data from the National Agency for Statistics and Demography (ANSD) based in Dakar. These exports amounted to 235.5 billion FCFA against 224.8 billion FCFA in July 2021, an increase of 10.7 billion FCFA. “This increase is mainly explained by that of shipments of petroleum products (+ 92.6%), crustaceans, molluscs and shellfish (+ 33.4%) and non-monetary gold (+ 1.0%)” , advances the ANSD. However, it should be noted that the decline in exports of phosphoric acid (-38.3%) and fresh marine fish (-28.8%) reduced this upward trend.…

The Union of Workers of Banks, Insurance, Financial Institutions, Microfinance and Commerce of Mali (SYNABEF) has decided to observe a 72-hour strike from Wednesday, October 27. This, for a period of 72 hours, as well as the National Federation of Petroleum, Trade, Insurance and Banks of Mali (FENPECAB). The strikers are demanding, in fact, the regularization of temporary workers, the resignation of Brehima Amadou Haidara, general administrator of Banque Développement du Mali (DBM sa) for having “improperly dismissed Ms. Kané”, and an outcome to a case of “forced dismissal. »Of 70 Ecobank monies for economic reasons in the context of…

For the Saudi authorities, Gabon’s presence at this Forum was “quite natural”. “Gabon is one of the most advanced countries in the world in the fight against global warming. In addition, President Ali Bongo Ondimba is a close friend of the King “, we recall in the entourage of the Crown Prince. This is quite a symbol, because it was in this holy city of Riyadh that President Ali Bongo had a serious stroke that had kept him away from major international meetings. Engaged in environmental issues, Gabonese President Ali Bongo has chosen the capital of the Kingdom of Saudi…

An important decision taken on the sidelines of the Board of Directors of the Central African Securities Exchange (BVMAC) meeting in ordinary session on October 25, 2021 in semi-face-to-face mode in Libreville, Gabon, under the chairmanship of Mr. Henri- Claude OYIMA, its statutory President. Thus, after examining the report of the Appointments and Remuneration Committee and hearing the two selected candidates, the board of directors decided to appoint Louis BANGA-NTOLO as Chief Executive Officer of BVMAC for a term of four years from January 1, 2022. Former Managing Director of Societe Generale Capital Securities Central Africa, the new CEO is…

By Albert Savana. This is the first major incident between Aziz Akhannouch’s government and the business community. Faced with an avalanche of cancellations of stays by foreign tourists following the authorities’ decision to suspend flights to and from Germany, the United Kingdom and the Netherlands, the National Tourism Confederation has issued a virulent press release accusing the government of “pushing the sector to certain death”. On condition of anonymity, some operators speak of “amateurism”. The temporary “ban” by the Moroccan government of flights from Germany, the Netherlands and the United Kingdom, three major global providers of tourist flows due to…

The Board of Directors of the Extractive Industries Transparency Initiative (EITI) approved Gabon’s new candidacy on October 21, 2021. The Central African oil and manganese producer thus becomes the organization’s 56th member country, and the 27th in Africa, after its withdrawal from the process in February 2013. “The EITI can help lay the groundwork for transparent management of Gabon’s natural resource wealth,” said Helen Clark, the EITI’s board chair, quoted in a statement. “We are happy to welcome it again as an implementing country of the EITI, and we look forward to working together to promote openness, strengthen governance and…

The United States announced, Monday, October 25, the suspension of financial assistance of 700 million dollars to the Sudanese transition, victim of a coup d’etat orchestrated the same day by the military. “We are suspending that entire amount,” said US diplomacy spokesman Ned Price. This decision, he added, does not concern humanitarian aid. The country, which rose on Monday morning with the arrest of Prime Minister Abdallah Hamdok, several of his ministers and civilian members of the Council overseeing the transition, has been going through a transition since 2019 after the fall of former President Omar al-Bashir, overthrown after months…

The Noépé-Akanu juxtaposed checkpoint (PCJ), located 30 km east of Lomé (Togo) on the border with Ghana, will be operational from next November, the Togolese authorities announced. This, seven years after its official inauguration. “As part of the effective operationalization of the Noépé-Akanu Juxtaposed Control Post (PCJ) and the redefinition of the Abidjan-Lagos corridor, the Commissioner General of the Togolese Revenue Office (OTR) brings operators to the attention of economic that from November 1, 2021, customs clearance operations for goods in transit, from or from Ghana to Togo or other countries are imperatively housed at the juxtaposed checkpoint of Noépé-Akanu…

Electronic payments and transactions, over the past five years, have remained on an evolving curve in the countries of the Central African Economic and Monetary Community (CEMAC). In its report on electronic money payment services for the year 2020 that Financial Afrik was able to consult, the Bank of Central African States (BEAC) reports on growing activity both on the volume of payments , than on the number of electronic transactions. After the organization of this activity in 2016, it appears that the number of transactions increased from 977 million to 1102 million in 2020, recording a transaction value during…

In the Democratic Republic of the Congo (DRC), the appointment of a president at the head of the Independent National Electoral Commission (CENI), and of a team confirmed on October 22, 2021 by President Félix Tshisekedi, has enough to unite his opponents, – and even an ally – against him. Denis Kadima. This is the name announced on the evening of October 22 by President Félix Tshisekedi via an ordinance published after a televised message to the Nation, thus confirming the choice made a few days earlier by the National Assembly despite divergent opinions, including those of the Catholic Church…

Telluric anger of Recep Tayyip Erdogan. The Turkish president announced on Saturday that he had ordered the expulsion “as soon as possible” of ten ambassadors, including those from France, Germany and the United States. Ankara blames diplomats for calling for the release of opponent Osman Kavala. The Turkish businessman and patron has been jailed for four years without trial, accused of wanting to destabilize the country. The ambassadors in question called on October 18 for a “fair and speedy settlement of the case” Osman Kavala. For what qualifies as interference, the ambassadors of ten countries – Canada, France, Finland, Denmark,…

The future of the Congo Basin will be at the center of discussions at the Conference of the Parties (COP) from October 31 to November 12, 2021, in Glasgow, Scotland through the initiative to reduce greenhouse gas emissions (GHG ). In this perspective, the Congo Basin countries recently published a plea for scientific research on climate issues to be supported in Central Africa. An initiative requiring the mobilization of more than $ 150 million over the next ten years including a research program of $ 100 million and a fund of $ 50 million intended for the training of experts.…

The current events in Sudan do not leave the international community indifferent. Shortly after the arrests on Monday morning, the US, the European Union and the Arab League expressed concern over the attempted military coup. “We are following with great concern the events unfolding in Sudan. The European Union calls on all stakeholders and regional partners to get the transition process back on track, ”said Josep Borrell, the European Union’s High Representative for Foreign Affairs and Security Policy, in a post on Twitter. Shortly before this statement, the United States, through the American envoy for the Horn of Africa, Jeffrey…

Originally scheduled for October 1, the launch of the e-Naira, the electronic version of the Nigerian currency, is scheduled for Monday 25. It was postponed due to the celebrations marking the 61st anniversary of the country’s accession to the country. independence, according to official sources. “President Muhammadu Buhari is to officially unveil the Central Bank of Nigeria’s digital currency known as eNaira on Monday, October 25 at the Presidential Palace,” said a statement from the issuing institute. This electronic money “must be activated” the same day, specifies the same source. The project is being implemented with Barbados-based company Bitt Inc,…

Several Sudanese leaders were arrested early Monday, October 25, by unidentified gunmen. “The civilian members of the Sovereignty Council (…) and most of the ministers (…) were taken to an unknown destination,” said a statement posted on Facebook by the Ministry of Information. The latter implicates “soldiers”. As for Prime Minister Abdallah Hamdok, he is announced under house arrest by unofficial sources. Information later confirmed by the Information Ministry, which cites him among the personalities under arrest. For its part, the Alliance for Freedom and Change, spearheading the protests that led to the fall of former President Omar El Bashir,…