Author: Jean-Mermoz Konandi

The Association of Lobbying and Public Affairs Councils of Côte d’Ivoire (ACLAP-CI) has just published its now traditional list of the 100 most influential public figures in Côte d’Ivoire. This third edition, which is the result of an annual survey of the country’s lobbying councils, has made a selection of personalities from the world who have “marked public life” over the last twelve months. It should be noted that the study does not include the president of the republic, the vice-president and their spouses as well as judges, magistrates, members of the defense and security forces and the Lobbyists. A…

After starting the link between Abidjan and New York on May 12, 2018, Ethiopian Airlines announced the opening of a line between Abidjan and Washington as part of the restructuring of its US service starting next summer. In a statement released on Jan. 29, the airline states that “the number of flights to Washington DC, which is currently one flight per day, will be increased to 10 flights per week” and that “the three new additional flights will go through Abidjan from Addis Ababa in the morning and arrival in Washington DC in the evening “. A happy prospect for…

Société Générale Côte d’Ivoire was awarded the “Best Trade Finance Service Provider 2019” award from the Ivorian market by Global Finance magazine on January 16 in London for the second year in a row. This award was given to highlight the bank’s progress in the market, its innovative initiatives and the quality of services offered as part of its international trading operations during the year 2018. Solid leader of the Ivorian banking sector with almost 20% of market share (in resources and jobs), the establishment which adopted its new name at the beginning of the year begins 2019 under good…

“Soro Guillaume will resign in February, it’s understood, it’s decided,” Ivorian President Alassane Ouattara said while receiving the Ivorian press on 28 January for greetings. This statement confirms a rumor spread in recent months in the country and is certainly the result of the last tête-à-tête that the two men had on the evening of Thursday, January 24th. This is an evolution that sanctions a malaise that brooded in recent years at the top of the state between the two personalities whose relations were increasingly distant. Formerly number two of the Ivorian power, Soro Guillaume, who was an intimate of…

The French leader in generic drugs is launching in Côte d’Ivoire as part of its African strategy. A strategy that makes Abidjan the launching pad for its ambition on the continent where the laboratory targets the West and Central African regions. A subsidiary of Pharmaceutical Group Servier, Biogaran, which now accounts for nearly 30% of the generic market in France, intends to capitalize on the reputation of its products in order to conquer highly competitive African markets where major Western, Asian and local laboratories are battling. “We offer medicines that comply with European standards, at affordable and affordable prices and…

The French group EDF strengthens its presence in Africa with the acquisition of 49% stake in Conergies-group, a leader in integrated energy efficiency services in West Africa. EDF has taken over from Investisseurs & Partenaires (I & P) – through its I & P Afrique Entrepreneurs 1 (IPAE 1) fund – which makes its exit after 6 years of participation in Conergies-group during which it contributed to its development. The group “designs and produces tailor-made solutions integrating climate engineering, refrigeration and solar energy”. Present in Ivory Coast and Mali, respectively via its subsidiaries ARIC and RICA Services, Conergies-Group also operates…

Since 1 January 2019, Côte d’Ivoire has begun the gradual implementation of the EPA (Economic Partnership Agreement) with the European Union. In a communication on January 23, the Ivorian government announced the effective start of the “first phase of tariff dismantling” since the beginning of the year. In detail, this first stage concerns 1,155 tariff lines of the ECOWAS Common External Tariff (CET) applied in Côte d’Ivoire. “Since 1 January 2019, the products covered by these tariff lines, identified and recognized as originating from the EU, are imported into Côte d’Ivoire free of customs duties,” explains the government. The EPA,…

Growth is picking up again, according to the report of the African Development Bank (AfDB) on the African Economic Outlook in 2019. Presented on 17 January at the institution’s headquarters in Abidjan, Côte d’Ivoire, the report notes that At the current rate, this growth should not be sufficient to meet the structural challenges facing the continent, particularly with regard to unemployment and poverty.  Financial Afrik presents here some highlights of this report. “The situation in the continent is good” and “Africa’s overall economic performance continues to improve,” said Afrika Bank President Akinwumi Adesina as a preface to the report. After…

The CNPS, the social welfare institution dedicated to the Ivorian private sector, is multiplying its performances. At the end of 2018, the institution achieved a net result of “more than 90 billion FCFA”, or 137.2 million euros, said this January 18 Charles Kouassi, its managing director. A result that doubled in 5 years; it was 45 billion FCFA at the end of 2014. This performance was driven in particular by the increase in social security contributions from 186 billion to 257 billion FCFA over the period, mainly due to the reforms initiated in 2012 which raised the retirement age and…

Has the construction site of Amadou Moctar Mbow University in Diamniadio been removed from the Ivorian group SNEDAI led by Adama Bictogo? The Senegalese press reported that the contract was withdrawn at the request of President Macky Sall because of the delay in the project. The university, presented as a pole of excellence to host 30,000 students and which was to open last October is indeed still under construction; the project progress is estimated at 35% after about two years of work. Questioned by the Ivorian press on January 18 during a ceremony of presentation of greetings, Adama Bictogo, the…

The German development bank KfW entered the African Guarantee Fund (AGF) at the end of the year with a stake of 25 million dollars. A cash flow thanks to which the pan-African SME guarantee institution has successfully closed the first round of raising $ 90 million from its fundraising campaign. “The capital increase has allowed AGF to acquire more capacity to deal with the financing barrier, which remains a major challenge for African SMEs,” said Felix BIKPO, the institution’s managing director in a statement. “AGF will now be able to provide more guarantees and technical assistance to financial institutions, thereby…

A governance code will soon be issued to companies listed on the BRVM, the State Exchange in the WAEMU zone, in order to get them to appropriate the best management practices. An agreement was signed in this sense between the CF and the BRVM on January 10 in Abidjan. The objective is to improve corporate governance practices in an area that is “lagging behind international standards” with the aim of generating investor confidence and attracting and retaining more capital that is “useful for development of capital markets in the region, “IFC said in its statement. It should be noted that…

Air Tanzania becomes the first African airline to operate the Airbus A220, the newest member of the Airbus family of civil aircraft. The aircraft was received at the assembly site in Mirabel, Quebec, in the presence of company officials and Tanzanian government authorities. Air Tanzania, which becomes the fifth company in the world to use an A220, plans with this acquisition to further expand its national and regional market and to open new routes to India and the Middle East from its Dar es Salaam base. “With the arrival of the A220 in our fleet, we are confident that we…

The SIB, an Ivorian banking company, celebrated the Christmas party with sick children from the heart of the Abidjan Heart Institute (ICA) on December 24th. A Christmas tree was organized in honor of the children who were interned (or treated at home) who received gifts in a festive atmosphere within the institute. For Daouda Coulibaly, the bank’s managing director, this initiative aimed to “modestly bring a smile” to these children and their families at this time of celebration. This event is a continuation of the collaboration with the ICA, the SIB being for 6 years a partner of the Foundation…

Insurance broker Gras Savoye will now adopt the brand name Willis Towers Watson (WTW) on its African markets following its absorption at the end of 2015 by the British group Willis (which merged in 2016 with the American risk management firm Towers Watson). The announcement was made this December 4 in Abidjan during a meeting of the French group with the press. With this change of name, the French leader in insurance brokerage thus completes the process of its integration into the global activities of WTW which covers 140 countries including forty in Africa. Based in London, WTW is considered…

The social network Instagram is increasingly adopted by world leaders. A study by the US communication agency BCW entitled “World Leaders on Instagram” tends to demonstrate this. The 2018 edition of the study, published on December 4, shows that 156 of the 193 UN member states have an official Instagram account, 16 more than in the previous study. And 92 heads of state, 48 heads of government and 36 foreign ministers have personal accounts on the social network. “Instagram has become the fastest growing social media network among world leaders, governments and foreign ministers. This is the third most-used social…

The Democratic Republic of Congo has decided to triple the royalties on “strategic” minerals exploited on its territory. The royalty rate of 3.5% is raised to 10% on the cobalt used in the manufacture of electric battery, said Martin Kabwelulu, Minister of Mines quoted by Reuters. It will be the same for other ores classified “strategic” as coltan, used in electronic devices, and germanium, used in transistors. The decree referring to these new measures was signed by Prime Minister Bruno Tshibala on 27 November, in accordance with the new mining code adopted this year. This, despite intense lobbying by multinationals…

Until then, Deputy Chief Executive Officer of GS2E (Group of Water and Electricity Services – Economic Interest Grouping of Electricity Companies (CIE) and Water (SODECI)) and former Deputy Director General of the CIE in charge of communication and marketing, Eugene Zadi was appointed head of the communication group Eranove. Based in Paris and controlled by Emerging Capital Partners (ECP), Eranove is a pan-African industrial group specializing in the management of utilities and the production of water and electricity. The group manages several subsidiaries of two sectors in Côte d’Ivoire (CIE, SODECI, CIPREL), Mali, Senegal, Togo, DR Congo, Gabon and Madagascar…

The Kadio-Morokro family, founder of Petro Ivoire, takes over the majority of the company with the exit of the capital of the funds of Amethis and West Africa Emerging Markets Growth Fund. An operation implemented thanks to a 19 million euro mezzanine financing from Vantage Capital. Vantage Capital, Africa’s largest mezzanine fund manager based in South Africa, announces on November 3 that it has granted mezzanine financing of 19 million euros, or 12.46 billion FCFA to Petro Ivoire, one of the leaders distribution of oil and gas products from Côte d’Ivoire. This financing enabled the founding family Kadio-Morokro to take…

The World Bank Group announced on December 3 on the sidelines of the opening of the Cop 24 in Katowice, Poland, the mobilization of $ 200 billion to combat climate change in developing countries on the period 2021 – 2025. This envelope is twice what the institution promised in 2016-2020 The World Bank says it will provide $ 100 billion in direct financing, with the rest coming from two agencies in the group for one-third and two-thirds of private financing. These resources will certainly be devoted to the development of renewable energies, but they will put a particular emphasis on…

The German bank DEG, a subsidiary in charge of the private sector of KfW, the German development agency, opened on 30 November a regional office in Abidjan, the fourth on the African continent after Johannesburg, Nairobi and Accra. DEG, with an investment portfolio of 8.3 billion euros, of which 2.1 billion is devoted to Africa, finances both private companies, financing institutions and investment funds in developing countries. development and emerging markets according to Célestin Tanoh, the head of the Abidjan office. In this case, it intervenes via long-term financings of up to 15 years, mezzanine financing (an alloy of debt…

The Ivorian Bank Corporation (SIB) has just gleaned a new laurel this time internationally. The hotel has received the title of “Bank of the Year 2018 Ivory Coast” on November 29 in London, an award given by The Banker, a Financial Times publication, during its traditional annual evening. the best banks in the world. The Bank of the Year Awards, which bring together each year the world’s top business, celebrate the best banks in the world, country by country. And the 2018 edition has evaluated banks in 140 countries on all continents. The jury, in a statement, justified this distinction…

Banque Atlantique Mali announces the launch of a program of electrification in solar energy in a rural environment as part of a citizen program. A convention was signed for this purpose on November 12 in Bamako with the Renewable Energies Agency of Mali (AER), technical partner of the program. Implemented as part of the citizens’ actions of the bank, a subsidiary of the Moroccan group Banque Centrale Populaire, the initiative concerns the financing of the supply and installation of solar photovoltaic systems in rural areas. In detail, it will be for Banque Atlantique, once the device installed, to ensure in…

The first Board of Directors of the BHCI, meeting October 30, elected James Clayton and renewed Abou Touré respectively as chairman of the board of directors (PCA) and general manager. James Clayton, PCA of the Canadian Westbridge Mortgage Reit, who took over the public bank in January 2018, is a Canadian banker with over 40 years of experience. He has been the founder and director of two financial credit institutions (Resmor Trust and Moncana Bank) successfully sold to large groups. Director General of the BHCI since January 2016, Abou Touré, a former UMOA-Title agency, had successfully privatization process of…

As the world’s largest cashew producer, Côte d’Ivoire has been designated as the headquarters of the International Cashew Advisory Council (ICCC), an organization that brings together producing and consuming countries. The signing of the headquarters agreement took place on November 12 between the president of the organization, Serge Ahissou, and Souleymane Diarrassouba, Ivorian Minister in charge of Trade and Industry. Created in November 2016 in Abidjan, the CICC aims to support the sustainable development of nut production, the industrialization of the sector and the sharing of experience between member countries. It includes 10 African countries: Benin, Burkina Faso, Cameroon, Cote…

On November 8, wealth manager Julius Baer (or Bär) opened a representative office in Johannesburg, South Africa. Through this first establishment on the continent, the first Swiss private banking group intends to offer fully licensed investment advisory services to private clients to give them access to a full range of “sophisticated” investment solutions. With its 92,000 large fortunes, South Africa has the highest concentration of major wealth on the continent according to Capgemini’s World Wealth Report 2018, recalls the release of the bank that considers the country as a promising market and for which it has a long-term vision. Julius…

Banque Atlantique Guinée-Bissau and Banque Atlantique Sénégal now wear new clothes with the continued deployment of the new graphic charter adopted by the Banque Centrale Populaire du Maroc (BCP) group in its African holding company Atlantic Business International (ABI) and its 16 subsidiaries in 10 countries in the subregion. These two subsidiaries thus take up the emblem of the horse and the colors of the parent company, thus presenting a unique visual, like the subsidiaries of Côte d’Ivoire, Mali, Benin and Burkina Faso. A standardization that “expresses a strategic shift consistent with the ambitions and commitments of the BCP group…

The Orange group announces the establishment of Orange Cyberdefense in Casablanca, Morocco, its branch which includes all of its cybersecurity activities dedicated to professionals. This arrival is explained by a context of propensity to digitize the activities of local companies, which requires “a reinforcement of the mechanisms of protection of strategic information”, underlines the group. In Morocco, Orange Cyberdefense argues that “offers and value propositions” will be the same as those already proposed in France, on all activities relating to the advice and penetration tests, the installation of protection means, but also surveillance services and a reaction center and alert…

LafargeHolcim Ivory Coast continues its campaign of support for employment with the release of a new class of masons trained as part of its program of assistance to professional reintegration called “70 masons”. 28 young people who have just completed their apprenticeship received their parchment on October 19th. LarfargeHolcim gave them, during the ceremony organized in their honor, in addition to end-of-training diplomas, starter kits. These are personal protective equipment (helmet and construction boot) and a mason toolbox (trowel, plumb bob, bricklayer’s square, etc.), to allow them to seize the immediate opportunities that arise. will present themselves to them in…

Côte d’Ivoire has just acquired an online platform that is now the single portal for investor services: www.225invest.ci. This website, which is intended to serve as an interface between foreign and local investors and the public administration, marks the starting point for the dematerialization of all public services and actions towards the private sector. not extremely important in the context of improving the business climate. Thus, the formalities of company (creation, modification, etc.), the obtaining of the licenses and business licenses, the formalities relating to the land, the registration of the acts of justice, the steps of connection to the…