Author: Mamadou Aliou Diallo

Around 9.8% in 2018 before registering a slight decrease in 2019 to 9.5% and then rising again in 2020 to 10.4%, headline inflation recorded an increase of +1 , 6 and currently stands at 12% (2021). The latter trend is one of the main preliminary findings of a virtual staff assessment mission to the International Monetary Fund (IMF) that took place from April 14 to 28, 2021. A situation which is explained, according to the services of the fund, by the increase in recent months in food prices and freight costs, associated with the disruption of supply circuits linked to…

Everything seemed to be prepared in advance. Following the announcement of the creation of the UEFA Champions League breakaway European Super League, US bank JP Morgan has officially announced that it is on the move to finance the operation. Its investment will be between 4 and 6 million euros. JP Morgan, which is banking on an explosion in marketing revenues, ticketing and TV rights, among others, for the return on investment will have to pay 350 million euros that it had promised to each of the 12 dissident European clubs at the base of the creation of the Super League.…

The microfinance sector in Guinea is highly concentrated with 25 microfinance institutions (MFIs), 22 of which are active and significant disparities in terms of market targeting. According to World Bank forecasts, competition is expected to increase in the coming years with the entry into service of new players. Four MFIs outrageously dominate the microfinance sector in Guinea (CRG, Yete Mali, Finadev and Cofina). In 2016, they alone represented 96% of outstanding savings and 87% (84% in 2017) of outstanding loans. The market shares of Crédit rural de Guinée (CRG), which dominates the podium, represented during the same year between 85…

A few days before his departure from the White House and the inauguration of Joe Biden, Donald Trump continues his war of attrition. Its threat of “shutdown” which hung over Washington in recent days has finally been lifted. After much negotiation, the outgoing president signed in extremis on the evening of Sunday, the famous economic stimulus plan of 900 billion dollars voted by the congress and thus preserving the allocations to 14 million Americans to thatching. Donald Trump took the risk of causing a shutdown of public services in the US administration as was the case in 2018, blocking the…

For a world first, the enthusiastic British authorities hope that the vaccination campaign which has started heralds the “beginning of the end”. The day is even described by some officials as “V-Day” alluding to the end of World War II. This December 8 at Coventry University Hospital, Margaret Keenan, soon to be 91, is the first patient in the United Kingdom to benefit from the promising vaccine developed by the American firm Pfizer and the German start-up BioNTech. The British authorities after approving the recommendations of the independent regulatory agency for medicines and health products (MHRA) which ensures that the…

By Mamadou Aliou Diallo, Conakry. Faced with the determination of the National Forum for the Defense of the Constitution (FNDC), the Alpha Condé regime now seems to privilege “diplomacy”. Having finally authorized the NDFC march of this Thursday, October 24, 2019, the power has offered a life-size survey. The street opposes any constitutional change, with or without a third term. This is the message chanted by thousands of Guineans who swept through the streets throughout the country. The monster demonstration is added to the one organized the day before and which saw women protesting the killings. The motto remains unchanged:…

Turkey does not just want to have one of the best airlines in the world, Turkish Airlines, Turkish President Recep Tayyip Erdogan inaugurated this Monday, October 29, 2018 in Istanbul, one of the largest airports in the world. world. Aware of its geostrategic position for Civil Aviation, the Turkish authorities want to make Istanbul a hub for long-haul correspondence between the old continent, Asia and Africa. Istanbul Yeni Havalimani is the name of this architectural gem with a capacity of 90 million passengers per year, far from the 103.9 million passengers at the Atlanta airport in the United States. It…

Things seem to be accelerating for the Chalco Guinea Company, a subsidiary of the Chinalco Group. Six months after the signing of its 15-year mining agreement with Guinea, the Chinese company officially started on Sunday (October 28th) its integrated bauxite-alumina project in Boffa, in the north-west corridor of the country. This operating agreement is part of the agreement “mining resources against financial loans” between Guinea and China. This highly strategic fire baptism for the Middle Kingdom took place in the presence of the Guinean Prime Minister Kassory Fofana, and Du Xiaowen, the number one of the Chinalco group to whom…

This decision made public Wednesday, October 10, 2018 by the regulatory authority of posts and telecommunications (ARPT) has the effect of a bomb for employees and all stakeholders in the value chain that revolved around the fourth country phone company. Arriving in Guinea in 1993, before Areeba (now MTN Guinea), Orange Guinea and Cellcom under the name TELECEL Guinea, before being renamed Intercell Guinea, this company after more than four decades of activity has never known impose on its competitors because of the low level of investment and the lack of rigorous and ambitious leadership. It had only 1% market…

The increase in the price of fuel at the pump last July is eroding the purchasing power of workers in the banking and microfinance sector. This was hinted by the leader of the autonomous union federation of banks and microfinance of Guinea (FESABAG) who, after a general meeting on Tuesday, October 9, 2018, has tabled on the table of the Professional Association of Banks (APB), an unlimited general strike notice. The straw that broke the camel’s back and which clearly served as a pretext for FESABAG to file its unlimited general strike notice, is the dismissal of a union delegate…

The establishment of the first solar plant in Côte d’Ivoire will cost 40 million euros, according to an announcement made Wednesday, October 3 in Abidjan, when signing a partnership agreement concluded for this purpose. This financing will be provided by Germany with the contribution of KfW bank and the European Union, will increase, according to forecasts, the share of renewable energy in the energy mix to 11% of by 2020, thanks to the construction of the Boundiali solar power plant in the north of the country. With a capacity of 37.5 MW (megawatts), this plant will significantly increase the share…

The group Onomo Hotels proceeded, Thursday, October 4, at the official opening of its first three-star hotel complex in Conakry, the Guinean capital. The infrastructure includes 123 rooms, apartments, meeting rooms, a business corner, an infinity pool and an exotic garden. It will have required, in total, an investment of 23 million euros. President Alpha Conde in person inaugurated the establishment, together with the Managing Director of the Onomo Hotels group, Patrick Grossetete. The latter promised the Guinean head of state to prioritize and promote the local workforce within the institution, but also the group. It should be noted, moreover,…

At the end of its mission in Guinea, the IMF expresses its satisfaction with the good performance of the aggregates and growth prospects. A downside however, the multilateral institution sends two different bell sounds. First story, the increase in growth prospects from 6.7% to 10% for the year 2017. Secondly, the net slowdown for 2018 where the GDP would grow by only 6.7%. If the experts of the organization rent a fiscal policy that allowed to obtain a substantial surplus base, they do not fail to express a finding in relation to rising inflation. These two messages are essentially the…

Planned since July 2018, G’I Cement, the cement subsidiary of the Guinean G’I industry, announced this Saturday, September 29, 2018, the official start of operations to increase its annual production from 700 thousand to one million 400 thousand tons a year, six months after the start of works to expand its production capacity. While Guinean demand is one million seven hundred thousand tons (1,700,000 t), the production capacity of the four factories in the country is two million tonnes (2,000,000 t), which leaves a margin very low security against the shortage. So, the challenge for Guinean cement companies is real:…

Yahsat, a UAE-based internet access operator, announced on Tuesday that Abdjan has officially launched YahClick, its Ka-band broadband internet service, which, according to the operator, aims to improve Internet penetration in the country. , which remains extremely weak. To materialize its implementation in Ivory Coast, Yahsat, which claims the rank of the leading satellite broadband internet provider in Africa, thanks to High Throughput Satellite (HTS) satellite beam technology, intends to collaborate with CEE-NET Technologies, Ivorian supplier. Internet services and connectivity as part of a strategic partnership.

The announcement was made this week by Soukeyna Kane, the director of World Bank operations for Guinea. This financial windfall will be affected inter alia, the development of agribusiness, digital, job creation for youth and improvement of basic services and fight against underemployment of young people. The Bretton Woods financial institution has announced through its director of operations for Guinea that the new five-year partnership framework will place special emphasis on private sector promotion and economic and financial resilience.

On the sidelines of the Forum on China-Africa Cooperation, which opened on Monday, September 3, 2018 in Beijing, under the presidency of Xi JinPing, Guinean President Alpha Condé took the opportunity to sign several agreements with his Chinese counterpart. . These agreements concern a memorandum on cooperation under the Silk Road Economic Belt Initiative; a memorandum of understanding to support food security with assistance of US $ 6 million and an economic and technical cooperation agreement for the supply of potable water to the city of Conakry. Guinea also signed two days earlier, another “Strategic Cooperation Partnership” agreement with the…

With an annual production capacity of 6,000 tons of explosive emulsions, 10,000 Anfos and 3,000,000 pieces of detonators, the factory built by the Chinese group Norinco via its subsidiary Auxin Mining Service (AMS) and inaugurated this Thursday, August 23 by Mohamed Diané, Guinean Defense Minister, aims to mitigate the import of explosives for mining and infrastructural construction, or even military. Located in Boké, a northwestern mining corridor where about 14 companies and mining companies operate, 5 of which are in operation, this plant will create 200 direct and indirect jobs, according to Deputy Director General of the NORINCO Group, Zou…

The amended draft budget bill presented on August 14, 2018 to the National Assembly of Guinea by Ismael Dioubaté, the Minister of the Budget, provides for major adjustments compared to the initial forecasts for the current year. Thus, the originally planned revenues of 18 thousand 537 billion 1 million fall to 16 thousand 434 billion 26 million Guinean francs. That is a decrease of 11.34%, which represents -2% of GDP. As a percentage of GDP, revenues fall from 18.62% to 15.42%. Expenditure in% of GDP is reduced from 20.9% to 17.75%. Revised expenditure projections are also reduced from 20 thousand…

Despite the veil surrounding the signing of important trade agreements between South Africa and China, we know more about the details of some upcoming Chinese investments in the country that are estimated at $ 14.7 billion, as announced a week earlier the South African President, Cyril Ramaphosa. The future metallurgical complex, whose construction will be financed with $ 10 billion by Chinese investors will be installed in a Special Economic Zone (SEZ) located in the province of Limpopo, in the far north-east of the country. The information disclosed by Reuters is confirmed by the same agency, by a source close…

Until then, it was a threat from the CNTG-USTG trade union center, which, with Guinea’s social forces (FSG), is behind the strike against the rising price of fuel. form. The union organizations of the different departments of Conakry international airport affiliated to the CNTG and the USTG threaten to go on strike from 2 August 2018 and to paralyze air traffic. The union sections of the various companies involved in Conakry International Airport, namely SICASS, SOGEAC (the company that manages and operates Conakry airport); ANA (National Agency for Air Navigation); NEWREST; SAT, have filed this Wednesday, July 25, a notice…

In a recently published column, Alpha Saliou Wann, an alliance of democratic forces (AFD), an observer of the Guinean socio-political life has defeated the claim that the Guinean state subsidizes fuel. Subsidy, which is precisely at the center of the current crisis and whose “abandonment” has automatically caused the rise in the price of liter of gasoline and diesel at the pump. “We must refute the government’s flagship argument that fuel subsidies have caused Guinea to lose 765 billion francs in six months. I say: the state does not subsidize fuel in Guinea. We are talking about a subsidy, when…

UAE Exchange, one of the world’s leading money transfer, exchange and payment brands, announced Monday (July 23rd) that it has renamed its activities in Africa under the name “Unimoni”. According to Promoth Manghat, executive director of Finablr and CEO of the group who was speaking at an official ceremony in Nairobi, Kenya, the new identity, “Unimoni”, which stands for “Universal Money” , reflects the desire to strengthen its presence worldwide and to provide a wider range of innovative financial services to its customers. Following this announcement, Unimoni will be launched in Botswana, Kenya, Rwanda, Seychelles, Tanzania, Uganda and Zambia, subject…

The British Nordgold presented this Monday, July 23, 2018 in London, its report on the Lefa mine it acquired in Guinea in 2010. Indeed, the company which, through its subsidiary, the mining company of Dinguiraye (SMD), remains one of the main gold producers of the country, has invested almost 1 billion dollars in Guinea, including the investments in the development of the mine, taxes and the implementation of support programs for local communities. She also presented her report on the progress of her exploration program for the mine, which aims to renew and increase gold resources. It is expected, among…

The Guinean Cement Association has made it known via Adel Fakhreddine, the president of Guinea cement, who is also CEO of Guinea Industries Ciments and Aboubacar Toure Director General of Cimaf Guinea. The reason given for this decision is “the concern for the well-being of its customers and to respect one of its values is proximity to participate in social cohesion and especially to play its role of corporate citizens” have they justified in a joint statement. Since the rise in the price of liter of gasoline and diesel at the pump, the events are multiplying, without unions and government…

The economy of the country to 190 million inhabitants takes the colors, reading the forecasts made by the French insurance company for foreign trade (Coface). In recession in 2016 with a rate of -1.6%, partly caused by the drop in oil prices, the instability related to the Boko Haram armed group and the reluctance of investors, the Nigerian economy is, indeed, on a positive spiral. In 2017, it recorded a modest 0.8% recovery that will materialize in 2018 with 2% GDP growth. However, the control of inflation is at 14.4% and a strong budget pressure with a 16% increase in…

Despite a protest that does not weaken on the side of the unions and civil society, the Guinean government favors the implementation of accompanying measures for, she says, relieving the population. While the unions are negotiating around the table a return to the initial price of 8,000 GNF ($ 0.9), the authorities do not intend to yield to the union and popular demand. Result: it is the deaf dialogue and the impasse. Indeed, as in Haiti in recent days, Guineans massively took to the streets Tuesday, July 10, 2018 at the call of a coalition of civil society called “social…

Condemned by Belgian justice to 20 months of suspended sentence, to 12,000 euros fine and confiscation of 300,000 euros, Mariama Camara, Guinean Minister of Agriculture, rejects accusations of corruption against him. Interviewed exclusively by Financial Afrik, Mariama Camara wants to be clear: “but I do not know [laughs …] I saw something on the net. Like you, I saw that there was my name. But do not recognize me in it, “she says. The name of the Minister of Agriculture is cited in the judgment of the Brussels Criminal Court in the Socfin case. According to the judgment delivered Friday,…

The disputes arising from the increase in the price of fuel at the pump does not fall despite the pedagogical effort unfolded on Tuesday, July 3, 2018 by the Guinean Minister of hydrocarbons. In a press conference, Diakaria Koulibaly explained in essence that the fuel subsidy was not relevant because he only took advantage of large consumers and causing a narrowing of the tax base with a loss of several billion francs Guineans recipes. The government’s decision is actually based on two major arguments. The first is based on the recommendations of the Bretton Woods institutions which advocates for Guinea…

The Guinean government took the decision this Saturday, June 30 to increase the price of the liter of gasoline and diesel fuel at the pump from 8000 GNF to 10 000 GNF. This despite strong opposition from unions, fearing a domino effect and a surge in the prices of other commodities necessities. After long weeks of speculation on the level of fuel prices, which the government considers below the sub-regional price, considering this as a revenue shortfall, the government finally decided to substantially increase the price of fuel. price of the liter at the pump of 2000 GNF. The impact…