Author: Ndeye Magatte Kebe

Liquid Telecom, a subsidiary of the South African group Econet, and operator Telecom Egypt initialed Friday, July 13, an association agreement for the creation of the first fiber optic network in Africa. Signed on the sidelines of the Annual General Meetings of the African Export-Import Bank (Afreximbank) held in Abuja, this Memorandum of Understanding is an important step in a strategy to penetrate the African market and make available to customers across Africa, Telecom Egypt’s most advanced global technology and infrastructure services. The cable, which will connect Cape Town to Cairo, will have to go through the Liquid Telecom network…

Euromoney, the world’s leading magazine of the world’s financial markets since 1992, has awarded the “Best Bank in Morocco” and “Best Bank of the TPME in Africa” ​​awards to the Attijariwafa Bank Group. According to the magazine, the Moroccan bank has enjoyed a year of remarkable growth and has distinguished itself thanks to a solid financial performance by significantly increasing its revenues and assets, as well as its geographical reach, particularly in Africa. Euromoney also welcomes “a capacity to adapt to the changing and sometimes difficult regulation and conditions of the market and / or the needs of customers”. Attijariwafa…

Tunisia will benefit from 5.5 billion euros from several international donors. Announced this Thursday, July 12, the envelope will serve to support the country in its democratic process. These include financial institutions including the World Bank (WB), the International Monetary Fund (IMF), the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), under the auspices of European Commissioner for Enlargement and European Neighborhood Policy, Johannes Hahn. According to the donors, 2.5 billion euros are programmed for 2018-2019 in the form of loans and grants while the rest would be granted once Tunisia succeeds in accomplishing and…

On the sidelines of a visit to Saudi Arabia on Thursday (July 12th), South African President Cyril Ramaphosa secured $ 10 billion in commitments from Riyadh. Indeed, the Kingdom has committed to invest this amount with 25% of funds for energy projects. According to a statement from the South African Presidency, Ramaphosa met with Crown Prince Mohammed bin Salman in the port city of Jeddah. Both sides decided to increase investment and strengthen trade relations. Note that South Africa imports 47% of its oil from Saudi Arabia and considers the country as a strategic partner in the Middle East. Saudi…

It was on Twitter that Cameroonian President Paul Biya put an end to the suspense surrounding his candidacy for the presidential election on 7 October 2018 … for a seventh term. “Conscious of the challenges that we must together face for an even more united, stable and prosperous Cameroon, I agree to respond favorably to your urgent appeals. I will be your candidate in the next presidential election “: it is in these words that Paul Biya, 85 years old, in office since 1982, announced Thursday very late in the evening, his candidacy for a 7th term seven years old.…

It is an additional $ 10 million that the African Development Bank (AfDB) intends to release to boost AGF, the African Guarantee Fund for small and medium-sized enterprises. On Wednesday, July 10, the African institution approved this additional investment, which will be used to strengthen and guarantee loans to SMEs on the continent, but also to stimulate the development of private enterprises and the creation of sustainable jobs. Note that more than 8,600 SMEs across Africa have already benefited from loans guaranteed by AGF, SMEs that have created some 86,510 jobs. Almost 60% of these jobs were created for young…

Afreximbank, the African import-export bank, and the Central African Development Bank (BDEAC) plan to release an envelope of 500 million euros to enable the countries of the Economic and Monetary Community of Central Africa (CEMAC) to make up for their delays. The co-financing agreement was signed this Wednesday, July 11 in Abuja, on the sidelines of the 25th annual general meeting of the bank based in Cairo. The envelope will help “to a faster progress of several current and future projects”. According to Benedict Oramah, president of Afreximbank, the institution he heads is committed to supporting development in general and…

Tunisia Telecom (TT) and Vodafone, the British telecom giant, concluded this Tuesday, July 10 in Tunis, a partnership agreement. The agreement enables Vodafone to provide strategic and operational support in the areas of technology, procurement and services to businesses and individuals. The collaboration spans three years and will affect other services such as roaming and international inter-carrier relations. Teams from Tunisie Telecom and Vodafone will work to identify further avenues of collaboration for the benefit of customers of both partners. According to Mohamed Fadhel Kraiem, President and CEO of Tunisie Telecom, “This is the first partnership sealed by Vodafone in…

WorldRemit, Global Money Transfer and the Regional Market Bank (BRM) have just put the “cash pickup” on the Senegalese market. This is a money transfer solution to allow their customers, instant shipment via BRM agencies located in the WAEMU zone. The partnership will enable customers to make money transfers through their mobile phone and to the diaspora to send money to Africa. It also aims to avoid queues in transfer agencies. Expatriates will be able to send money from around 50 countries via instant message through the WorldRemit mobile app and its website. As for the beneficiaries, they will have…

Tunisia will benefit from a budget support of 100 million euros from the German Development Bank (KFW). The financing agreement will be initialed this Wednesday, July 11 between the Republic of Tunisia and the German banking institution, according to an announcement of the Tunisian Ministry of International Cooperation. It is a support to the state budget aimed primarily at supporting reforms in the financial and banking sectors, he says. This line of credit is in addition to the loan of 100 million euros granted by the same institution in September 2017 to Tunisia, and intended to finance several projects in…

The French Development Agency, the World Bank and the State of Senegal have signed a financing agreement worth € 223 million for the Senegal Municipalities and Agglomerations Support Program (PACASEN). The signing of the agreement took place on the sidelines of the national conference on the development and attractiveness of the territory which opened Monday, July 9 at the Abdou Diouf International Center of Diamniadio (forty kilometers of Dakar). This is 80 million euros granted by AFD in the form of loan, 93 million euros by the World Bank and 50 million euros by the State of Senegal. This envelope…

The national conference on the development and attractiveness of the territory opened Monday, July 09 at the Abdou Diouf international center of Diamniadio (forty kilometers of Dakar) in the presence of academics, sub regional and regional organizations, technical and financial partners and local and international experts in spatial planning and development. The aim is to conduct in-depth discussions and propose concrete actions to consolidate the achievements, resolve the dysfunctions noted, ensure greater cohesion in the territorial development action and promote a better attractiveness of the national territory. Organized by the Ministry of Territorial Governance, Development and Spatial Planning, this first…

It is through a statement made public on Friday, July 06 that the BMCE Bank of Africa group has announced the launch of its new financial communication site. It is, according to the document, a “multilingual and interactive platform, set up for the communities of shareholders, investors, analysts, the media and the general public, through innovative sections”. It offers rapid access to information through the advanced search, a categorization of financial publications, calendar of events, among others. According to the same source, the site brings several new features and allows visitors an improved experience through simplified navigation and use. It…

Estimated at CFAF 6,527 billion at May 31, 2018 by the Caisse Autonome d’Amortization (CAA), the outstanding amount of Cameroon’s public debt is on a rising trend. Indeed, the debt continues to climb, representing 32% of gross domestic product (GDP). It thus knows an increase of 1 108 billion compared to the same period last year, when it was 5 419 billion. According to the CCA, the external debt is estimated at CFAF 4,956 billion at the end of May 2018 compared to CFAF 4,027 billion during the same period last year. Domestic debt stands at CFAF 1,571 billion at…

The National Electricity Company of Senegal (SENELEC) obtained Thursday, July 5, a package of 34 billion CFA francs from the French Development Agency (AFD). The funding that is part of the implementation of the Smartgrid program aims to strengthen and modernize the company’s strong transportation networks. The agreement was signed by Senegal’s Minister of Economy, Finance and Planning, Amadou Ba, and the director of the French Development Agency, Laurence Hart. Indeed, the Smartgrid is a so-called “smart” network designed to optimize production, distribution and consumption to better match electricity supply and demand. It will have to allow the reinforcement and…

One month after acquiring stakes in Albatros Energy Mali, African Infrastructure Investment Managers (AIIM) announces that it has acquired a 50% stake in the Airport Operations and Management Company (SEGAP), an airport investment holding company present in Ivory Coast, Gabon and the Republic of Congo. According to a statement from the subsidiary of South Mutual Group of South Africa, made public in early July, the new transaction through the African Infrastructure Investment Fund 3 (AIIF3) will allow SEGAP to capitalize on growth opportunities ” As the aviation sector in Africa matures and opens up for private sector investment in airport…

The eleventh edition of the Days of the Regional Stock Exchange (JBRVM) continues Thursday, July 5 in Dakar, under the theme “innovation and development of financial markets.” Open since Wednesday, this annual meeting aims to popularize the stock market culture in Senegal, to raise awareness of the BRVM and its activities, and especially to show the opportunities it offers to Senegalese businesses and investors. Taking stock of the stock market institution after 20 years of operations, the general manager, Dr. Kossi Edoh Amenounvé, noted “6 157 billion capitalization of the stock market, 3,251 billion capitalization of the bond market, 147…

The Central Bank of Nigeria (CBN) has appealed to local businesses to use the yuan instead of the dollar in their imports of goods from China to support the naira and increase reserves. In fact, in May 2018, the issuing institution signed an agreement with the People’s Bank of China to facilitate trade between the two countries and strengthen the management of foreign exchange reserves, making Nigeria the third country in Africa ( after South Africa and Egypt) to sign such an agreement. Thus, the agreement will serve to reduce the use of the dollar and, as such, reduce the…

The Moroccan Bank for Commerce and Industry (BMCI), a subsidiary of BNP Paribas, has granted a loan of € 13 million over five years to the Chinese equipment manufacturer Nanjing Xiezhong, reports Le Matin Eco. The envelope is intended to finance its plant at Atlantic Free Zone of Kenitra for the manufacture of cooling systems for the benefit of PSA vehicles made in Morocco. It is worth remembering that the Chinese company specializing in heating, ventilation and air conditioning systems for the automobile. In July 2016, she signed a letter of intent with MedZ for the realization of this project.…

Barid Al-Maghrib (GBAM) Group Managing Director Amin Benjelloun and China Post Group President Li Guohua have signed partnership agreements to strengthen e-commerce exchanges and facilitate the transfer of money between Morocco and China. “These are three conventions that come to materialize the MoU signed in Rabat in September 2017 between Barid Al-Maghrib and the Chinese Post which provided for the strengthening of the sharing of know-how between the two organizations. especially through the joint development of their financial services, in particular electronic funds transfers, banking services and postal services, “a statement said. These agreements are part of the GBAM program…

Côte d’Ivoire signed on Monday, July 02 in Abidjan, an agreement with the international company VISA, one of the world leaders in electronic payments, to digitize government services and ensure the availability of financial services to a greater number of Ivorians. The signing of the convention took place on the sidelines of a visit to Côte d’Ivoire by a delegation of the US Presidential Advisory Council “on how to do business in Africa”, and led by the undersecretary Trade for International Trade, Gilbert Kaplan. According to Adama Koné, Ivorian Minister of Economy and Finance, “the agreement with American society is…

The Zambian government has chosen Oranto Petroleum, one of Africa’s leading oil companies, to conduct oil exploration work in the country. Under the terms of the agreement signed on Thursday, June 28, the company will hold a 90% stake in the two exploration blocks and Zambia Consolidated Copper Mining Investment Holdings (ZCCM-IH) and the remaining 10% will be held by the company. government. “Oranto Petroleum intends to implement an aggressive work program to increase the level of prospectivity of one of the last truly frontier markets in the world,” said company president Prince Arthur Eze in a statement. a statement.…

Let’s go. Burkina Faso has just seen the launch of its 14th commercial bank. Controlled by Apollinaire Compaore, wendkuni Bank was inaugurated on June 29 by Burkinabé Prime Minister Paul Kaba Thieba, in the presence of a plethora of personalities from the business world. With a capital of 12 billion FCFA, the new entity, led by Adama Sanfo, obtained its sesame from the UEMOA Banking Commission on September 27, 2017. The launch of this bank is, beyond its national contribution, the culmination for Apollinaire Compaoré which has an empire that extends from telecom to insurance.

The Economic Community of West African States (ECOWAS) now has a regional electricity market. Launched last week, the market is intended to help solve the supply and quantity shortfall and economic development of the region. It will also enable the populations of the member states of the West African sub-regional organization to benefit from a regular, reliable and cost-effective electricity supply. “One of the major handicaps to the sustainable development of the sub-region is the lack of supply of the desired quantity and quality of electricity,” said Abdoulaye Bio Tchané, Benin’s minister of planning and development, who presided over the…

The Development Bank of Central African States (Bdeac) will provide financial support of 60 billion CFA francs to Cameroon and Equatorial Guinea, according to a statement it issued after a board of directors held at the end of June in Brazzaville. The envelope will be used to finance projects of a socio-economic nature, at 57 billion CFA francs in Cameroon, and just over 3 billion in Equatorial Guinea. “This funding will be disbursed as soon as these countries have met the conditions required by BDEAC for this type of project financing,” said Fortunato Ofa Mbo Nchama, president of Bdeac. The…

The association of Senegalese insurers intends to set up a co-insurance pool to cover energy risks. The decision was taken after two days of reflection on the strategic and economic issues of oil risk insurance and reinsurance. This will involve setting up a compulsory co-insurance pool, which will bring together all non-life insurance companies licensed in Senegal to cover energy risks. Its coordination will be provided by the Senegalese insurance company Reinsurance (SENRE). “Regarding oil risks, the Senegalese market will have a unique and consistent approach to strategic and economic issues in order to reap the maximum profits,” said Mouhamadou…

The Belarusian Development Bank has granted a 50 million euro refinancing line to the West African Development Bank (BOAD) at the end of the 109th regular session of its board of directors held last week. The envelope is intended for the refinancing of projects whose goods and services are of Belarussian origin, says a statement released Wednesday, June 27. It should be recalled that the last regular session of BOAD’s board of directors approved, for the WAEMU countries, eleven new operations for a total amount of CFAF 111.8 billion (US $ 198 million). These new operations bring to 5,201 billion…

The British oil company Petrofac announced, Thursday, June 28, having sold all of its shares, or 45%, of the concession of Chargui in Tunisia Perenco group. According to a statement posted on its website, it states that “the jobs will not be affected because they will be included in the transaction with Perenco”. To come back to the facts, it should be noted that Petrofac had intended to leave Tunisia since 2012, given the production difficulties that it experienced due to sit-ins and social protests in Kerkennah. Petrofac’s decision came a year after the departure of its former Tunisian managing…

Marrakech was chosen to host the annual World Congress of the International Federation of Journalists and Writers of Tourism (FIJET), scheduled from November 29 to December 3. Indeed, the Moroccan Association of Journalists and Writers of Tourism (AMJET-FIJET) presented an application file focused mainly on the hotel infrastructure, the tourist attractions of Marrakech as well as the program of stay, rich and varied, planned for the conventioneers. His candidacy was chosen from among several other candidate countries, notably from Europe. The FIJET World Congress will be held for the second time in Morocco after the 2004 edition, said FIJET President…

The Djibouti head of state, Ismail Omar Guelleh, proceeded Tuesday, June 26 to the launch of a new 4G + telecommunications network in Djibouti. This launch “is timely; at a time when new information and communication technologies have transformed the world, “he said. The authorities are, in fact, aware of the importance of digital technology in people’s lives and the economic development of countries. “This is why we are more than ever determined to make the most of our potential in the telecommunications field,” the president said. To this end, Djibouti Telecom, the national operator has deployed several submarine fiber…