Author: Ndeye Magatte Kebe

Rwanda has decided to release a $ 30 million fund to support the development of the technology sector. Called the National Research and Innovation Fund (FNRI), it will support research and technology, with a focus on the link between young innovators and the job market. This fund is being announced to take office from the next fiscal year, and is part of the National Transformation Strategy 2017-2024. The aim of the FNRI is to stimulate the ICT sector in the country. In particular, it will make equity financing available to small and medium-sized Rwandan technology companies. In addition, it will…

The UK Agency for International Cooperation (DFID) has just awarded nearly 4 million dollars (10 million dinars) to Tunisian SMEs. The agreement was signed Tuesday, June 26 with the Ministry of Industry and SMEs. Led by the Tunis Stock Exchange, the Investia PME program aims to support and support 120. According to Slim Feriani, Minister of Industry and SMEs, “the importance of this agreement will help develop cooperation between the two signatory parties and promote the diversification of sources of finance for SMEs, through the use of the financial market” , It will also allow the minister to boost the…

KFW, the German development bank, has signed with Burkina, a financing agreement of 4.6 billion CFA francs for water and sanitation sector budget support. The signing of the agreement took place this Tuesday, June 26 in Ouagadougou between the Burkinabe Minister of Economy, Finance and Development, and Rosine Coulibaly, director of the office of the credit institution. Granted in the form of a grant, this amount is part of the “General Framework for the Organization of Budget Support in Support of the Implementation of the PNDES” signed between the Government and the technical and financial partners, intervening in the form…

After several months of dispute with its partners including the Bill & Melinda Gate Foundation and the International Finance Corporation, Abraaj Group has finally sold its private equity business in Africa to Colony Capital. According to a statement released on June 21, the Dubai-based international investor was accused by its partners of “misusing their money in a $ 1 billion health fund”. The transaction concerns two funds: in the first place Abraaj Africa Fund III, with 990 million dollars of assets and dedicated to investment in sub-Saharan African companies with strong regional growth potential, mainly in Côte d’Ivoire, Nigeria, Ghana,…

The Moroccan National Tourist Office (ONMT) has just met its new general manager, Adel Fakir. This is a profile for the least atypical. Unlike his illustrious predecessors, Adel Fakir had no tourist fiber known before his appointment. Executive in the marketing department of Fromageries Bel, then head of bottler Atlas Bottling Company (Coca Cola) then director general of the powerful advertising agency of the National Broadcasting Corporation (SNRT), the new DG of the ONMT nevertheless benefits from a positive outlook and the youth bonus. The choice of this graduate of ISCAE was not made by cooptation but following a call…

UBA-Guinea proceeded, Wednesday, June 20, the launch of its digital platform called “Leo”. This new product aims to digitize banking services through social networks and to revolutionize digital banking. The new platform will allow customers to make secure banking transactions using their Facebook account. It offers several benefits such as instant self-registration, account opening, balance consultation, money transfer, among other features. “This opportunity that UBA offers to Guinea certainly allows the digitalisation of human activities in the field of the Bank,” commented Ejiorfor Ndubuisi, the bank’s managing director. In addition, the platform “also allows to have some information, especially on…

The rating agency Standard and Poor’s (S & P) has just noted Senegal’s rating. The country of Téranga is going from B + with a stable outlook, to B + with a positive outlook. Revealed by the rating agency on June 15, the announcement was made by the services of the Ministry of Economy, Finance and Planning this Wednesday, June 20. “This improvement in the outlook follows the upgrading of the rating assigned by Moody’s affirming the positive development of the macroeconomic framework,” says the department. The same source indicates that “S & P’s opinion is based on the consolidation…

The AfDB, the African Development Bank, plans to approve, in July 2018, the release of an amount of 130 billion CFA francs to strengthen the Libreville drinking water network. This is indeed the financing of a project that aims to replace 150 kilometers of hydraulic pipeline to improve the water supply in several neighborhoods of the capital of Gabon. The project was announced this Wednesday, June 20 by Patrick Eyogo Edzang, the Gabonese Minister of Energy and Water. In addition, the installation of a new water treatment plant with the support of the pan-African industrial group Eranove will be built…

The Chinese government has signed a grant of $ 100 million on Monday, June 4 in Maputo to implement four development projects in Mozambique. The signing of these conventions took place between the Deputy Minister of Foreign Affairs and Cooperation of Mozambique, Maria Lucas, and the Chinese Deputy Minister of Commerce, Qian Keming, on the sidelines of the 6th session of the Joint Commission between the two. country. These agreements concern the construction of the Xai-Xai International Airport in the southern province of Gaza, the construction of the Technical Institute of Gorongosa in the central province of Sofala, the technical…

The International Monetary Fund (IMF) plans to extend financial assistance to Guinea-Bissau. Indeed, the Bretton Woods Institution approved this Tuesday, June 5 in Washington, the fifth evaluation of the program of support to the country. “The completion of the review will enable the provision of $ 4.3 million, bringing total disbursements to $ 24.2 million,” the IMF said in a statement. Thus, the institution extends its financial assistance to Bissau until July 2019, eight months after the legislative elections scheduled this year. “The extension of this program for another year will help anchor macroeconomic stability in the next election period,…

The National Bank of Equatorial Guinea (BANGE) is planning to move to Cameroon soon. The opening of a subsidiary was announced Monday, June 4 in Douala by Ebe Mba, the chairman of the board. Indeed, Equatorial Guinea campaigns for the promotion of South-South trade, particularly within the Economic and Monetary Community of Central Africa (CEMAC). And according to the PCA of the banking institution, “the BANGE is a commercial bank with a universal character”. Thus, procedures are being carried out to meet the conditions required by the Central African Banking Commission (COBAC) where the file has been filed. It should…

A study conducted by the agency D-Rating, specialized in rating the digital performance of companies, has just classified CFG Bank and Al Barid Bank as the best digital banks in Morocco. In this study entitled “Are the Moroccan retail banks digital? “The digital customer experience of 10 Moroccan banks was scrutinized. Three main conclusions emerge: CFG Bank is the best in the web rankings, Al Barid Bank is the best in terms of mobile applications and CIH Bank is the only Moroccan bank to be in the top 3 of the two rankings. According to D-Rating, the two banks devoted…

BMCE Bank has launched a new mobile payment service called “DabaPay” announces a statement released Monday, June 04, 2018. This is a new virtual wallet solution, backed by a bank account, a payment account or a prepaid card, allowing for various secure, convenient and fast banking transactions. According to the bank, this service aims to provide an optimal and successful customer experience. BMCE Bank’s “DabaPay” mobile solution enables instant and secure money transfer operations; payment of a sum of money via different channels; withdrawing money without a bank card at one of BMCE Bank’s 800 ATMs, and finally checking the…

On June 1, 2018, Société Générale Marocaine de Banques (SGMB) acquired 34.95% of the share capital of Eqdom from SG Financial Services Holding, a subsidiary of the Société Générale Group. According to a statement released Monday, June 4, the sale was authorized by the Supervisory Board of SGMB and Bank Al-Maghrib in accordance with Law 103-12 on credit institutions and the like and brings the participation of SGMB in Eqdom 53.72% of the share capital. The acquisition was carried out for a total price of 685 241 494 MAD (more than 72 million dollars) or a price per share of…

The West African Development Bank (BOAD) has signed with the Burkinabe government two loan agreements totaling 40 billion CFA francs in the water and local development sectors. The announcement was made Saturday, June 2, by the Ministry of Economy and Finance of Burkina Faso. In fact, these two loans relate to the project to strengthen the rainwater drainage network of the city of Ouagadougou (phase 3) and the support program for the development of local economies (PADEL) in Burkina Faso. Phase 3 of the Ouagadougou stormwater network strengthening project, for which BOAD commits up to 10 billion FCFA, will focus…

The head of the Malagasy government, Olivier Mahafaly Solonandrasana, made the apron Monday June 4 under pressure from the political crisis that the country has been going through for a few weeks. This resignation comes after the request of the High Constitutional Court to appoint a new prime minister of consensus. Indeed, the highest court of the country had ordered June 1, 2018, “the termination of office of the Prime Minister and the Government no later than June 5, 2018”. “I will hand over my resignation to the President of the Republic today. As a statesman, I will not present…

Uganda will apply from 1 July 2018, a mandatory tax on all courier services, social networks and services of “mobile money”, according to the provisions of a law approved Wednesday, May 30 in Parliament. Indeed, the text notes that any use of a platform like WhatsApp, Facebook, Viber, Skype and the same type exposes its beneficiary to a compulsory tax of 200 shillings (a little more than 0.05 dollars) per day and 1% the sum subject of the transaction via mobile money. According to the Ugandan government, revenue from these taxes will be reallocated to areas such as access to…

The West African Development Bank (BOAD) plans to mobilize 50 billion CFA francs each year to finance projects related to climate change, including the promotion of renewable energies. According to the Beninese Christian Adovelande, president of the bank based in Lomé (Togo), “the institution undertook various steps to increase the portfolio of climate projects likely to be subject to the financial mechanisms of the United Nations Framework Convention on Human Rights. Climate Change (UNFCCC) with which we are accredited “. The objective is to increase the mobilization of climate resources to 50 billion FCFA per year by 2021. According to…

The Kenya government launched last Monday a survey targeting ten financial institutions including nine banks suspected of handling stolen funds at the Government Youth Service (NYS). These are nine commercial banks and a financial cooperative enterprise that will be investigated by the police and the Central Bank. In this case, the big banks like KCB Group and the local subsidiary of Standard Chartered as well as Stanbic Kenya, Equity Group, Barclays Kenya, Cooperative Bank, National Bank, Diamond Trust, Consolidated Bank or the financial cooperative Unaitas The investigation launched by the Kenyan authorities also concerns dozens of senior officials and businessmen…

Tunisia officially becomes a member of the Common Market for Eastern and Southern Africa (COMESA) next July, according to an announcement made Tuesday, May 29 by its Minister of Commerce, Omar El Behi, at a meeting to present the results of a survey on the obstacles to exports for Tunisian SMEs. According to the minister, the integration of Tunisia in this regional market will strengthen its trade with the African continent. He said, moreover, that in 2017, the volume of exports of goods amounted to 35 billion dinars and the objective is to bring this figure to 50 billion dinars…

Telecom Egypt, Egypt’s state-owned telecoms company, announced Wednesday (May 30th) that it has received a $ 200 million loan from a pool of Bank of China, a commercial bank, and China Export & Credit Insurance Corporation. In its statement, the phone company says it is a long-term financing agreement, arranged by Huawei Technologies. The latter “played a key role in the process by providing competitive financing conditions for the deployment of its 4G network and the deployment of transmission networks,” she says. The agreement with Chinese companies will last 48 months, with a grace period of 24 months. Recall also…

Mauritius plans to support young Ivorian shoots. This will be financial and technical support in their projects and initiatives. The announcement was made by Janesh Roy Dookan, Head of Africa at the Economic Development Board, the body responsible for external economic relations of Mauritius on the sidelines of the National Days Promotional SMEs and crafts. According to the manager, the collaboration will be conducted through the Ivorian Federation of SMEs and will also focus on the supervision of SMEs with technical support compared to the expertise of Mauritius. In addition, Mauritius will mobilize funding from the Mauritian government and private…

The Water Utility of the Year Water Utility of the Year Award was awarded Wednesday, May 23, to Senegalese Waters (SDE) at the African Utility Week Awards Ceremony in South Africa. This distinction rewards the quality of the company’s management, the professionalism of its employees and the company’s pioneering approach in the context of a public-private partnership. The trophy also crowns the performance of the SDE at the continental level following an evaluation by independent auditors. Indeed, the company has managed to increase the rate of access to drinking water from 80% in 1996 to 98% in 2017, and the…

Ethiopian Airlines receives its 100th plane on June 5, according to a statement released Wednesday by the company. It is a Boeing Dreamliner B787-9 that it is the first to exploit. With this new acquisition, the company becomes the first carrier in the history of African aviation to reach a fleet of 100 aircraft, confirming “its role as a pioneer on the black continent.” According to Tewolde GebreMariam, CEO of Ethiopian Airlines, this step is the continuation of Ethiopian’s historic leadership role in aviation in Africa. It also demonstrates the successful implementation of Vision 2025’s rapid, profitable and sustainable growth…

Global Finance Magazine, on May 25, 2018, awarded the International Union of Banks (UIB-SGSS) as Best Depository in Tunisia for the fourth consecutive time. The magazine relied on several criteria, including customer relations, quality of service, price competitiveness and exception management to top the institution. It is the second distinction of best sub-custodian service provider in Tunisia awarded in 2018, after that of “Global Custodian”. This new award also brings to eleven, the distinctions received by the UIB, awarded respectively by “Global Custodian”, “Global Investor” and “Global Finance”. According to Global Finance, “these international awards reflect the quality of collaboration…

Changes were made on May 24, 2018, at the head of several South African public companies considered “indebted and gangrenous by widespread corruption”. According to Pravin Gordhan, the minister of state-owned enterprises, many public enterprises face financial, operational and governance problems. “This has a negative impact on the economy,” he said during a press conference in Cape Town, in the south-west of the country. “The poor results of these companies are the result of widespread corruption and mismanagement,” he said, before displaying his determination to “reverse the situation.” Thus, Phakamani Hadebe was officially appointed CEO of Eskom, the public electricity…

The Rwandan authorities initialed on Wednesday, May 23, two new bilateral air services agreements, one with Togo and the other with Angola. The signing of these agreements took place in Kigali on the sidelines of the work of the International Civil Aviation Organization (ICAO) Regional Symposium on Safety Management for Central and West Africa. The first agreement was initialed between Jean de Dieu Uwihanganye, the Rwandan minister in charge of transport and Ninsao Gnofam, his Togolese counterpart. “Our goal is to make the liberalization of air services a reality on the continent and this agreement will reinforce existing ones aimed…

President Joao Lourenço has just given Angola a new law to regulate the sector of exploration and exploitation of natural gas. The new legislation describes a tax regime on the predominant gas fields of 5% on production and 25% on income. It also halves tax rates on marginal oil fields. This decision is part of a series of presidential decrees published in the Official Journal, which presents the details of new legislation dedicated to the development of marginal fields, the creation of a regulator for petroleum products and natural gas rights. . It should be noted that Angola did not…

In the next three years, “Visit Rwanda”, the tourism branch of the Rwandan government will be one of the official partners of the English club Arsenal. The partnership was announced on Tuesday 22 May 2018 on the Arsenal website. The partnership provides a wide range of marketing privileges that will benefit the Rwandan government. These include the presence of the logo of “Visit Rwanda”, the tourism branch of the Rwandan government, on the left sleeve of all the jerseys of the Gunners, (flagship team, female, youth). Jerseys seen 35 million times a day in the world, according to the site.…

BMCE Bank has just launched the Young Multifunction Campus Card in partnership with the Euro-Mediterranean University of Fez. The agreement of this innovative project on the deployment by BMCE Bank of the banking solution Jeune Campus Multifonctions was initialed on May 14th. This offer will allow the student to have, free of charge, in a single card, a student card and a bank card, presenting a set of benefits and giving access to several services at a time within the institution. university and outside the institution. According to the bank, these include the identification of the student, access to different…