Author: Mamadou Sy

Canza Finance, an emerging markets neobank, successfully raised $3.27 million in seed funding. The fundraising was led by Fenbushi Capital, with participation from Dominance Ventures, Bixin Ventures, Consensys, Protocol Labs and Emergo Ventures, among others. These resources should allow the company to expand its services in Nigeria, but also to continue its growth in America and Asia. “Our vision is to become leaders in decentralized finance and to spearhead this movement to bring financial freedom to millions of people. The tremendous interest and support from our investors and strategic partners will enable us to grow Canza’s world-class team, improve our…

Veolia Environment’s takeover of Suez.SA in France closely concerns the subsidiaries of these two groups in Africa. Thus Lyonnaise des Eaux Casablanca (Lydec), a company listed on the Casablanca Stock Exchange, which has been distributing water in the Moroccan economic capital since 1997, has been taken over by Veolia. Indeed, according to a note from the Moroccan Capital Market Authority (AMMC), Veolia environnement declared that it indirectly crossed upwards, on January 18, 2022, the participation thresholds of 5%, 10%, 20%, 33 .33% and 50% in the capital of Lydec. Following this operation, Veolia indirectly holds 4,080,000 Lydec shares representing 51%…

Japan’s Masahiko Meteko becomes the new director general of the Universal Postal Union (UPU). He was elected on Wednesday August 25 in front of 4 serious opponents who are Cameroonian Younous Djibrine, Argentinian Marcela Maron, Slovenian Marjan Osval and Ukrainian Vladyslav Dubenko. Former Minister of Posts and Telecommunications of his country (1983), the Japanese replaced Kenyan Hussein Bishar, who spent 9 years at the head of the UPU. The new CEO has a long career in the public service, especially in the postal sector. He first worked as a postmaster at the Nihonmatsu Post Office in Fukushima Prefecture (Japan), before…

The South African company Telkom announced, Wednesday, August 4, the appointment of Serame Taukobong, a former MTN, to the post of general manager of the group, as of October 1. He succeeds Sipho Maseko, whose mandate ends in June 2022. According to a statement released by the third South African mobile operator (behind MTN and Vodacom Group), the two leaders will work together, until June 30, 2022, “to ensure an orderly transition of the designated group’s chief executive and stability of the company ”. This, in accordance with the transition plan of the board of directors, which did not fail…

During the visit of the French Minister of the Economy, Finance and Recovery, Mr. Bruno Le Maire, Proparco and the NSIA Group signed a new partnership to finance Ivorian companies. The Choose Africa Resilience portfolio guarantee granted by Proparco will cover 2,500,000,000 XOF (€ 3.75M) in loans granted by NSIA BANQUE to entrepreneurs. NSIA Banque Côte d’Ivoire is one of the main financial institutions in Côte d’Ivoire, benefiting from recognized expertise in financing agriculture and SMEs. Since 2012, the NSIA Group and the AFD Group have maintained an important partnership for the development of the private sector in Côte d’Ivoire.…

The State of Guinea-Bissau, through the General Directorate of the Treasury and Public Accounts, raised for the second time on April 13, 2021 on the financial market of the West African Monetary Union (WAMU) an amount of 23.100 billion FCFA (34.650 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. Guinea Bissau’s first ORD dates back to March 9, 2021, with an amount of CFAF 16.500 billion raised for the same maturities. The issuance of ODRs which is launched by the UMOA-Titres agency…

Expected since the week of February 22, 2021, the first doses of the anti-Covid-19 vaccine were received on the night of Sunday March 7 to Monday March 8 in Lomé by the Togolese authorities. This, as part of the global initiative known as Covax. The shipment consists of 156,000 doses of vaccines, out of the 636,000 expected in Togo in the first half of 2021 according to an official list released in early February. “This first batch of vaccines will be administered to all health personnel and to part of the population aged 50 and over, residing in Grand Lomé.…

The Covid-19 has demonstrated the ability of Africans to cope with a pandemic. Beyond the pandemic and its consequences, it is the whole continent that must strongly reaffirm its convictions towards the rest of the world so that Africa is valued at the level of the brains that compose it. Interview. Jean-Louis Portella, you founded Vizeum Consulting. And, recently, you published a study on good management and the room for improvement of African countries in the face of Covid-19. Can you tell us more? Vizeum Management Consulting is a management firm based in Brazzaville which is interested in issues of…

In DR Congo, Dr Bruno Miteyo Nyenge is the new head of the Civil House of the Head of State, Félix Tshisekedi, under a presidential ordinance of October 18, 2020. The new head of this structure replaces in this position the paternal uncle of President Félix Antoine Tshisekedi Tshilombo, the retired bishop Gérard Mulumba, who died at 82 on April 15, 2020 in Kinshasa as a result of the Coronavirus, less than a year later his appointment in May 2019. Holder of a Master in Management and Business Law, Finance and Banking Option from the University of Liège and the…

The bond loan by public call for savings (APE) of the Autonomous Port of Dakar, called “PAD 6.60% 2020-2027”, was closed early. The bets were made on Monday, October 12, 2020, at 6:00 p.m. GMT. At that time, demand had reached CFAF 94 billion, an oversubscription of 157%. For the first time, this was really one for SGI Invictus Capital & Finance. The loan, the third of its kind for the PAD, benefits, let us remember, from the guarantee of the State of Senegal (letter of comfort), which makes some people say that the commitment of the State of Senegal…

Nigerian bank Sterling Bank has announced that it has received approval from the Central Bank of Nigeria (CBN) to restructure its operations and become a holding company. By Amadjiguene Ndoye A restructuring that has become necessary because of its desire to make its interest-free banking branch (Islamic banking) an independent activity. In a note to the Nigerian Stock Exchange on Monday, September 28, Bank Secretary Temitayo Adegoke indicates that the holding company will operate in three large premises: specialization, partnership and digitization. Also, conventional banking will focus on building skills and using technology to provide services in areas important to…

The former director of the private sector of the African Development Bank (AfDB) (2006-2013) and then director of risk (2013-2020) has found a base. After having enforced his retirement rights about a year ago, the Canadian financier will now officiate at the Trade and Development Bank (TDB) as “Senior Advisor”. Mr. Turner, 28 years old at the AfDB, is familiar with the development and trade bank of Southern Africa, a client of the institution. Precisely, Mr. Turner must help TDB in the mobilization of resources and risk management. After a detour through Japan, his second country, the senior adviser, reinforced…

After having succeeded in the feat of overtaking Ghana and Nigeria, two countries full of natural resources, Ivory Coast, a francophone country in West Africa, has just overtaken Nicaragua to become the first African country in poor basement of history to overtake a country of Hispanic America. According to statistics recently released by the World Bank, Côte d’Ivoire’s GDP per capita stood at $ 2,286 at the end of 2019, which is now higher than that of Nicaragua ($ 1,913). The latter had, in fact, already been exceeded during the year 2018, but it was only after the recent update…

(1 dollar USD = 561.81 FCFA). In this exclusive interview, the President of the Federation of Employers’ Organizations of the Hotel Industry in Senegal, Mamadou Racine Sy, discusses the deep tourism crisis in Senegal. The sector has already lost more than 300 billion FCFA in terms of turnover. What inventory can you make of tourism in this context of Covid-19? We thank the Head of State of Senegal who took the decision to grant a hotel loan of 15 billion FCFA (27 million dollars) with an implementation by the Minister of Finance and that of Tourism, a salutary measure which…

No more physical order requirement to “trade” on the Zimbabwe Stock Exchange. Since Friday, individuals and legal entities can transact from a minimum of ZWL $ 500, or $ 5, on the platform (www. Zsedirect.co.zw) and via an application which is available shortly. According to ZSE CEO Justin Bgoni, individuals will have access to all platforms except the “futures” compartment reserved for authorized intermediaries. However, for now, access to the platform remains the exclusive domain of nationals with their valid identity cards. Likewise, only Zimbabwean banks will be granted access to the platform initially, which considerably reduces the reach of…

The Naira came under more pressure in the parallel market, trading at 467 against the dollar, after the Central Bank of Nigeria (CBN) cut interest rates by 100 bps to 11.5%, in a surprise move aimed at stimulating the recovery after the drop in oil prices at the start of the year and the effects of the coronavirus. A memo shared with the banks signaling the growing scarcity of dollars in the market, suggests the possibility of further restrictions to limit currency purchases, as sales by Bureau de Change are clearly insufficient to meet demand. “With such restrictions on the…

Despite his escapades – he had called African countries shitty countries – his unilateral decisions (threatening Rwanda to withdraw him from AGOA if it banned American thrift stores), his theatrical sulks (as when ‘he refused to receive the Congolese President, Denis Sassou Nguesso), of his diatribes against Nelson Mandela, Donald Trump does have a “vision” for Africa. But make no mistake, the “Prosper Africa” initiative is not a philanthropy. The main objective of the said initiative is to help American companies “wishing to do business in Africa”. Above all, no question of official development assistance (ODA), assistance that the tenant…

Rabat successfully issued Thursday, September 24, a bond on the international financial market of 1 billion euros in two tranches of 500 million euros each. The first, with a maturity of 5.5 years, has a price of 99.374% and a rate of return of 1.495%. The 2nd tranche, with a 10-year maturity, has a price of 98.434% and a rate of return of 2.176%, ie a coupon of 2%. This issue takes place in a context marked by uncertainties linked to the evolution of the Covid-19 pandemic and its impact on the credit quality of issuers. It was popular with…

After the management and intermediation company (SGI) BOA Capital Securities, the Regional Council for Public Savings and Financial Markets (CREPMF), through its decision N ° CREPMF / 2020/183 signed on September 17, 2020 by its president Mamadou Ndiaye, authorized the Senegalese SGI CGF Bourse to exercise the activity of online stock exchange on the regional financial market of the West African Monetary Union (WAMU). The Online Stock Exchange service was officially launched on September 16, 2020 by Stock Exchange officials Régionale des Valeurs Mobilières (BRVM) with the managers of SGI BOA Capital Securities, following the 2014-2021 strategic plan of the…

A mixed delegation from DR Congo (Presidency of the Republic, Ministry of Industry, Industry Promotion Fund and other state structures), which arrived in Cairo on September 15, 2020, signed two action plans with two Egyptian companies, Saturday September 19, 2020. The signing of these plans, which relate to the finalization of technical studies for the development of Grand Kasai, took place between three parties. They are the Director General of the FPI, Patrice Kitebi also contracting authority for the DRC, the two Egyptian companies Hassan Allam and Samcrete (responsible for carrying out the engineering works on the ground) as well…

Since joining the Government as Minister of Defense under François Hollande then Minister of Foreign Affairs under Emmanuel Macron, Jean-Yves Le Drian, the current boss of the Quai d’Orsay, by his deeds and his feats of arms on the continent, recalls De Gaulle’s “Monsieur Africa”, the famous Jacques Focart. Mythical architect of French networks in Africa, Jacques Foccart was, from 1959 to 1974, advisor to General de Gaulles, liege man of Georges Pompidou, essential advisor to Valéry Giscard d’Estaing for African and Malagasy affairs . During all these decades, Foccart has built the foundations and laid the foundations for the…

Tunisia: New Body Line distributes 1.062 million dinars in dividends to its shareholders New Body Line (NBL), which specializes in the design, development, knitting, manufacture and marketing of clothing, will distribute to its shareholders on September 24, 2020, for the 2019 financial year, an overall net dividend of 1.062 million dinars (411,749 euros), announced the leaders of this company based in Mahdia located 200 km south of Tunis. Compared to the 4,250,400 shares that make up the capital of this limited company, this corresponds to a dividend per share of 0.250 dinar, or 25% of the nominal value of the…

The Central Bank of Algeria has a new governor in the person of Rosthom Fadli who will act as it. The new governor replaces Ayman Ben Abdurrahman, appointed finance minister last June during the last cabinet reshuffle. The announcement was made by President Abdelmadjid Tebboune, who also ordered the opening of Algerian banks in Europe and Africa to allow expatriates to deposit, transfer funds and boost trade. Rosthom Fadli had previously held the post of Vice-Governor of the Central Bank. The new governor has spent most of his career at the Central Bank of Algeria, notably within one of the…

Banque Centrale Populaire group (BCP) published its financial results at the end of the second half of 2020 on Tuesday, September 22, on the Casablanca stock exchange. Thus, the main indicator showed green, despite the lockdown of populations to stem the spread of the COVID-19 pandemic in Morocco.    Despite this context, the consolidated Net Banking Income improved by 13.9% to 10 billion Dirhams (around 1 billion euros). This increase is mainly explained by the combined effect of the change in scope following the integration of the new African subsidiaries acquired at the end of December 2019. As for the…

The Angolan government has officially notified its intention to join the 54 countries that already apply the Standard Initiative for Extractive Industries Transparency (EITI). In a letter to the Chairman of the EITI Board, dated September 14, 2020, the Minister of Mineral, Oil and Gas Resources, Diamantino Pedro Azevedo, described the steps already taken for the implementation of the EITI. EITI. These include the signing of Presidential Decree 117/20, appointing the minister as chair of the National EITI Coordinating Committee, and a public statement announcing the government’s commitment to join the EITI. the initiative. The announcement of Angola’s intention to…

Navigating against the doxa, Professor Didier Raoult of the IHU Méditerranée Infection in Marseille continues to castigate French public policies in the face of the Covid-19 pandemic. “You have up to 44% false positives when you check people who have tested positive elsewhere.” The Marseille doctor calls for a harmonization of the results of PCR tests. Remaining on his starting positions, Didier Raoult believes that the Covid-19 pandemic has not upset mortality in France, a position that contrasts with what some call “fear marketing” which led to the confinement of half of humanity based on a hypothesis put forward by…

The Senegalese economy is expected to contract this year due to disruptions in economic activity caused by the COVID-19 pandemic, notes the IMF mission. In the eyes of the services of the International Monetary Fund (IMF), led by Ms. Corinne Deléchat, on a virtual mission from September 9 to 18, 2020 to update macroeconomic projections, and to examine the execution of the 2020 amending finance law and the finance bill for the year 2021, “a recovery is underway, but its pace and extent remain very uncertain”. “The Senegalese economy has been hit hard by the COVID-19 pandemic: it is now…

The Ghana Infrastructure Investment Fund (GIIF) is a Ghanaian sovereign wealth fund whose mandate is to mobilize, manage, coordinate and provide financial resources for investment in a diverse portfolio of infrastructure projects in Ghana for national development. At the head of this institution, Solomon Asamoah, answered our questions. What is the initiative behind the creation of GIIF? The Ghana Infrastructure Investment Fund (GIIF) is an investment vehicle established with $ 325 million in equity from the Government of Ghana with a mandate to develop, invest and manage infrastructure assets in Ghana for the national development, in a cost-effective and sustainable…

 The Moroccan Federation of Call Center Staff and Offshoring Trades has launched an alert on the working conditions of outsourced customer services staff in Morocco and Tunisia during this period of health crisis caused by the Covid pandemic. 19. Although the outsourcing of call center work by multinationals offers enormous employment potential, the industry has been criticized for its poor and abusive working conditions, laid bare in the context of the pandemic. The federation calls into question the long working hours, the precarious conditions in which the workers evolve and the lack of adequate protection during the first months of…

The Secretary General of La Francophonie, Her Excellency Louise Mushikiwabo, appointed His Excellency Cheikh Tidiane Gadio, of the Republic of Senegal, as Special Envoy for monitoring the situation in Mali. This designation is part of the resolution adopted on August 25 by the 111th extraordinary session of the Permanent Council of La Francophonie (CPF), to support the process of restoring democratic institutions in Mali and helping to find solutions for exiting lasting and credible crisis taking into account the expectations of Malian citizens. In close coordination with international partners, mainly ECOWAS and the African Union, the Special Envoy will be…