Author: Ndeye Magatte Kebe

South African Randgold finally merged with Canada’s Barrick Gold. The transaction, which represents $ 18.3 billion, excluding debt, gives birth to the world’s number one gold in terms of market capitalization. Before the merger, Randgold had a capitalization of 4.6 billion pounds (5.12 billion euros) while Barrick Gold was worth 18.78 billion Canadian dollars (12.4 billion euros), according to Thomson Reuters. Including the debt, the enterprise value of the new entity is $ 24.1 billion. Shortly before the merger, Randgold announced a record dividend of $ 2.69 per share, up from $ 2.00 originally announced, for a total of $…

The Caisse de Dépôt et de Gestion (CDG) and Poste Maroc announced this Wednesday, October 31, on the sidelines of World Savings Day, the launch of a new insurance product called “Tawfir Sakane” for income-earners. irregular to allow them access to housing. According to Abdellatif Zaghnoun, General Director of CDG, who told the “La Vie Eco” news website, Moroccans are less inclined to save. Given that only 3.8% of households do so, according to the latest survey of the High Commissioner Plan to them. Thus, “the citizen must be offered a panoply of products so that he can make an…

Banks operating in Cameroon had a turnover of 5,308 billion CFA francs in 2017 representing 26.8% of Gross Domestic Product (GDP), against 23.1% in 2010, according to a report by the International Monetary Fund ( IMF) published this month of October. The document mentions that “of the 14 banks operating in 2017, the assets of the nine foreign banks are estimated at 3,422 billion CFA francs, three private local banks represent 1,376 billion CFA francs while two state-owned domestic banks have 271 billion CFA francs. CFA in terms of assets “. It is also noted that at the end of…

With the aim of providing financial and technical assistance to SMEs, the Société Générale de Banque in Senegal (SGBS) and the Agency for the Development and Supervision of Small and Medium Enterprises (ADEPME) launched on Tuesday 23 October in Dakar, a credit line of 170 billion CFA francs through a program called “Fonds Envol”. This five-year program must make it possible to finance all SMEs registered in the labeling program and the e-rating system of ADEPME, among others. A first disbursement of 15 billion F CFA will be available in 2018, says one. It is indeed a fund that offers…

The public offering (OPV) of approximately 13 million Oragroup shares will start on 29 October at the Abidjan Securities Exchange (BRVM) and is expected to continue until 16 November. As we announced, the transaction involves 57 billion CFA francs (86 million euros, a record at the BRVM), divided between a capital increase of 25 billion CFA francs and a sale of 31 billion Francs. CFA. At the end of the operation, ECP will remain the reference shareholder with 50%. The float will be 20%, which is the floor at the BRVM. Many market analysts, who have followed end-to-end the latest…

The pan-African group OiLibya unveiled a new logo, a new visual identity and a new customer experience called “Ola Energy” at a press conference held Tuesday (October 16th) in Dakar. Indeed, the group has opted for a new look to better position itself on the market for the distribution and marketing of petroleum products in Africa. It is also changing its brand for its pan-African distribution network of more than 1,100 service stations across 17 African countries, becoming “Ola Energy”. According to its managers, “Ola Energy, like the other subsidiaries of the group, will put more emphasis on customer service…

Three Angolan banks were fined to the Capital Markets Commission (CMC) for violating their duty to provide information to the structure. These are the Economic Bank (BMC), Bank Fomenta Angola and Millennium Atlantico Bank (BMA). On its official website, the regulator of the securities market published last Friday a document that explains that it is on the basis of the fundamental law of financial institutions (LBIF) that the banks concerned will pay a fine of approximately $ 3,000 each. For the BFA, the CMC imposed a fine of approximately $ 1,500 in the form of a transaction provided for in…

Sierra Leone has announced that it has abandoned a project to build a new airport by Chinese companies, funded through a $ 400 million loan from China. Indeed, the project proposed by the old regime, much criticized by the new authorities in Freetown for its heavy impact on foreign debt, will paradoxically be replaced by another, at a cost of $ 1.3 billion. In a letter from the Minister of Transport and Aviation, it states that “after a serious review and due diligence, the government considers it unprofitable to proceed with the construction of a new airport while the one…

Senegal is the first country in French-speaking Africa to benefit from the “Boost your business with Facebook” project aimed at benefiting 1,000 SMEs. Launched Thursday, October 11 in Dakar, the pilot phase will chaperone 1,000 small and medium enterprises (SMEs) in the regions of Dakar, Thies, Saint-Louis and Ziguinchor. According to Sherry Dzinovera, a member of Facebook’s team for sub-Saharan Africa, “In other English-speaking African countries, including Kenya, South Africa and Ethiopia, this project has helped to frame 30,000 SMEs since its creation. launch two years ago “. For its part, Aïda Ndiaye, Facebook’s public relations officer for French-speaking Africa…

The official reserves of the Central Bank of West African States (BCEAO) amounted to 9,056.2 billion CFA francs in July 2018, an increase of 962.5 billion compared to the same period of the year 2017, indicates a monthly note of conjuncture in the States of UEMOA. Made public by the central bank, the document explains that “this improvement in the level of reserves is linked in particular to the mobilization of Eurobonds by Senegal and Côte d’Ivoire in March 2018, for an amount of 2.010.9 billion” . The same source informs that “the coverage of reserve assets thus came out…

The rating agency Moody’s through its investor service has revised up Wednesday, October 10, the prospect of the Egyptian banking system from “stable” to “positive”. The agency attributed this improvement to rising economic growth, credit growth, bank profitability and domestic capital production in the North African country. The report states that “the economic outlook has also been underpinned by the accelerating economy and strong demand for loans in Egypt”. According to the same source, one of the other key drivers of this positive outlook of the Egyptian banking system is the improvement of the operational environment following the implementation of…

Vice President Yi Xiang of the Chinese multinational announced Wednesday, October 10 in Beijing, investments of $ 60 million in Angola. The head of the Chinese company was speaking at a meeting with the press on the sidelines of the visit of Angolan President João Lourenço to the Huawei Technology Research Center, as part of his state visit to China. The vice president reiterated “the interest of the technology company to strengthen investments in Angola because being one of the countries where Huawei began to expand its activities abroad.” In this country, the Chinese company develops 2G, 3G and 4G…

The Moroccan Authority for the Control of Insurance and Social Insurance (Acaps) approved this Wednesday, October 10 for the sale of the Saham Group’s insurance division to the South African group Sanlam. Sanlam and Santam have therefore finalized the acquisition of the remaining 53.37% stake in SAHAM Finances. That takes effect this Thursday, October 11th. This operation follows the obtaining of various regulatory approvals from the regulatory authorities of the countries concerned. Thus, Sanlam now owns 90% of SAHAM Finances, the remaining 10% being held by Santam. According to Sanlam CEO Ian Kirk, “The completion of this transaction marks a…

The International Finance Corporation (IFC) signed a € 40 million subordinated loan agreement with Attijari Bank Tunisia on Tuesday (October 9th) to boost equity and increase the bank’s lending capacity. Announced in recent months, this envelope will allow the Tunisian bank to further increase the volume of its long-term funding to support projects for small and medium-sized enterprises, and thus contribute to the government’s efforts to encourage the use of renewable energies and reduce the energy bill. “The Tunisian market for sustainable energy financing is still nascent, but full of potential,” said SFI’s Middle East and North Africa Financial Institutions…

The International Finance Corporation (IFC), a subsidiary of the World Bank Group, announced that it had invested $ 6.2 billion in long-term investment in sub-Saharan Africa in fiscal year 2018. The envelope, which is almost double that of the previous fiscal year, enabled IFC client financial institutions to provide more than 2.9 million loans to micro and small and medium-sized enterprises 32 million people in Africa have access to electricity and 2.5 million to clean water. IFC projects have also reached more than one million farmers and provided 1.4 million people with medical care, according to the institution. According to…

The Eiffage group has announced that it has won a contract to design and build a 44 megawatt hydroelectric plant in Ivory Coast, for a total of nearly 110 million euros. According to a statement issued Tuesday, October 9 by the number 3 French BTP, the project includes the realization of a mixed dam rock and concrete, a spillway, a factory housing the turbines, a canal the station, the line connecting the plant to the network, temporary facilities and access roads. The works, which will begin in the first quarter of 2019, will be carried out over a three-year period…

The Crédit Agricole Group launched CAM Leasing, the first green leasing company to launch the 2018-2019 crop year. Mission, finance the mechanization of agriculture and the support of all agro-food industries. According to a statement from the group, “CAM Leasing offers products that meet the different needs of farmers and aim at improving their productivity and their income and their sustainable development through the modernization and strengthening of their equipment and means of production” . Crédit Agricole Group’s new discovery (GCAM) aims in particular to make a significant contribution to the mechanization objectives of Moroccan agriculture as laid down by…

The Condé Nast Traveler magazine has designated, Tuesday, October 9, the Moroccan hotel “La Mamounia” as the best hotel in the world and in Africa. This famous palace located in the heart of the city of Marrakech received this coronation after a vote of more than half a million readers having hoisted “La Mamounia” in the first row with a score of 99.77 / 100. A hundred palaces around the world were noted by readers. The most important criteria taken into consideration to establish this ranking are the quality of the service and the rooms, the location and the design…

The “2017 Annual Report of the Franc Zone” reveals that the growth rate of the zone is set at 3.9% in real terms in 2017, compared to 3.6% in 2016. Established by the Banque de France, the document indicates that this recovery should continue in 2018 with a continuation of the growth cycle in the WAEMU region and the recovery in CEMAC, thanks to the improvement in oil prices. However, it is noted that this good performance remains insufficient to allow a real economic take-off of the Zone, even if it allows an improvement in GDP per capita. In 2017,…

Naoufel Ghafir has been appointed Managing Director for Morocco, Tunisia and West Africa at AXA Partners META (Middle East, Turkey and Africa). This entity is dedicated to the development and deployment of global insurance and support solutions. According to a statement released Monday, October 8, the new boss who will take office on November 1, 2018, succeeds Jérôme Bedouk. At AXA Partners, Naoufel Ghafir was previously in charge of managing the digital strategy and transformation of the Credit & Lifestyle Protection business. He brings with him his ability to develop digital solutions for major partners in order to increase business…

The Hilton Group announced on Wednesday, October 3, an initial investment of $ 1 million to promote sustainable travel and tourism in Africa. According to a statement to this effect, the envelope will allow the company to focus on its five key areas called “Big Five”. This will include investing in training and apprenticeship programs, expanding existing partnerships and creating new alliances to help Hilton achieve its goal of 50% reduction in water use, and launching 20 water projects in at-risk communities by 2030. The company will also invest in the provision of training and audit services to reduce human…

Africa south of the Sahara is hampered by the low diversification of investments. This is the main conclusion of the latest World Bank report, Africa Pulse, published on October 3, 2018. The good news from this biannual review is that sub-Saharan African economies continue to recover, after stalling in 2015-16, but at a slower pace than expected. In 2018, the region is expected to show an average growth rate of 2.7%, a slight increase compared to the 2.3% recorded in 2017. It is far from the average of 5% recorded on the period 2004-2014. “To accelerate and sustain…

It is with the aim of consolidating air transport in Africa that the African Union is seeking support for the establishment of low-cost airlines on the continent in order to stimulate travel within the continent. According to Amani Abu Zeid, the Commissioner for Infrastructure, Energy and Tourism, “the cost of air travel on the continent remains high, partly because of the lack of liberalization of the air transport sector”. Thus, the pan-African organization proposes “a continental tourism strategy to promote the liberalization of the aviation sector in Africa that will allow dynamic and flexible private airlines to operate in Africa…

The Senegalese government has issued a call for tenders to divest the Senegal offshore south (SOS) and deep offshore Senegal (SOSP) blocks. According to a statement reported by the national daily “Le Soleil” published this Tuesday, October 2, the Petroleum Company of Senegal (PETROSEN) announces “the availability of offshore blocks for the granting of licenses, through a procedure of appeal of offers ». Oil and gas companies may express their interest by mail addressed to the Minister of Petroleum and Renewable Energy no later than October 31, the source said. It is worth remembering that the head of state, Macky…

The Moroccan group Cosumar has a stake of 55% in the capital of the Compagnie Maroco-Guinéenne de Sucre (Comaguis), the remaining 45% being held by the Guinean company Sogecile. According to a statement released Tuesday (October 2nd) by the Moroccan sugar leader, this entry will allow the company to become active in the packaging and marketing of white sugar in Guinea Conakry. Comaguis will have a production unit with a nominal capacity of 50,000 tonnes and the first commercial operations are planned for the third quarter of 2019, the company said. Its range of products will have to bring a…

The new Chadian airline, “Chadia Airlines”, made its maiden flight this Monday, October 1st. 51% owned by the state and 49% by Ethiopian Airlines, it will connect major cities in the interior before connecting the capitals of Central Africa, then the Middle East and the rest of the world. Regarding the transport tariffs, users must pay 48,250 FCFA to go to Abéché (East) and 58,500 to Faya (North). The cost of transportation to the city of Amdjarass (north-east) is set at 58,000 FCFA against 45,000 FCFA for the south of the country, in the cities of Moundou and Sarh. For…

Saham Assurance has set up the first-ever integrated hardware claims management platform, as well as several innovations designed to provide its customers with a better quality of service. It is a platform to bring together the insurance and support skills and other innovations to bring to the insured’s journey on the same level, more fluidity and convenience. Thus, for the insured, there is now a single point of entry that can provide real-time visibility into the progress of each claim. According to the insurance company, on the “operational side, this single point of entry is materialized, on the one hand,…

To consolidate its presence in Africa, Marriott International plans to increase the number of hotels in the continent by 50% by 2023. Thus, the American group intends to strengthen its presence in Ghana, Kenya, Morocco and South Africa and put his bags in Mozambique. According to a hotel group statement released on Monday, October 1, at a Nairobi forum on investment in the sector, “improving air links and robust economic growth support demand in the hotel industry. on the continent and encourage in recent years the major global groups to invest to develop in sub-Saharan Africa. “Marriott International, with signatures…

The International Monetary Fund (IMF) approved Friday, September 28, the payment of the fifth tranche of the loan to Tunisia, loan approved in May 2016 as part of its economic program. This is a new $ 245 million envelope, out of a total of about $ 2.9 billion. Tunisia receives, with this tranche, $ 1365 million of the total loan. The remainder is to be paid in installments according to the progress of the implementation of the defined economic reform program. This IMF approval will also pave the way for the sale of $ 1 billion bonds next month. It…

Algerian Minister of Tourism and Handicrafts, Abdelkader Benmessaoud, announced the official launch of a “new electronic portal for the promotion of the Algerian destination”, on the sidelines of a meeting organized on Thursday 27 September on the occasion of World Tourism Day. The platform aims to raise awareness of the country’s tourism diversity, the most important destinations available as well as tourism and travel agencies, hotels, classified restaurants, transport, besides culinary arts and crafts. Benmessaoud said the portal is presented in Arabic, French and English, before specifying that the Amazigh language will be introduced after the signing of a framework…