Author: Ndeye Magatte Kebe

The African Legal Support Mechanism (ALSF) organized two workshops in Ouagadougou on best management practices for exploration and oil and mining contracts. ALSF is an international institution hosted by the African Development Bank. Indeed, the discovery of large-scale oil and mineral deposits tends to feed national visions of economic prosperity and development. However, these dreams are often subject to a rude awakening, namely the financial and commercial challenges associated with transforming underground assets into financially successful extractive projects. The first workshop was organized from 12 to 15 December 2017 on “Negotiation and Management of Exploration and Exploration Contracts”. The second…

The African Union (AU) will launch three “flagship projects” at the next summit scheduled for next week in Addis Ababa. According to Moussa Faki Mahamat, the chairman of the AU Commission, they will be set in motion with the aim of accelerating the integration of Africa. This is the Continental Free Trade Area (CFTA), the free movement of people and goods, and the implementation of the Yamoussoukro Decision on the creation of a free and unique market for air transport in Africa Mr. Mahamat was speaking on Thursday, January 25 2018, at the opening of the 32th Ordinary Session of…

Aliko Dangote, the Nigerian billionaire, intends to set up a solar power station. The work will be erected in the town of Zakirai, Nigeria. For the realization of this plant, the authorities of the State of Kano granted 150 hectares of land to Dangote Group. With a cost of 150 million, the infrastructure will have a capacity of 100 MW and will be funded by Dangote and Black Rhino. The two companies that promise to deliver this construction project by 2020, plan to invest 10 billion in the energy sector. Present in several fields (sugar, cement, real estate, textiles, energy)…

The Ivorian Head of State has finally yielded to the pressure by proceeding with the suspension of the 2018 tax schedule, which came into effect since 2 January 2018. “I am very open, provided it is in the interest of the nation. As you have seen, the tax schedule has been adopted by the Council of Ministers. I asked that it be suspended and reviewed to be consistent with the direction we have in our country “said, Thursday 25 November 2018, Alassane Ouattara. The decision that comes in a climate of contestation of this tax system by the private sector,…

Samira Khamlichi, the current CEO of Wafacash will soon be the first woman to chair a subsidiary of Attijariwafa bank. The announcement was made recently by Mohamed El Kettani, CEO of the Group. The appointment of Ms. Khamlichi as CEO of Wafacash must be validated in February by the Board of Directors. Samira Khamlichi since 2006 Wafacash CEO, specializing in financial services and the transfer of money. It is one of the few Moroccan access to several high-level positions in the field of finance. DESS in Banking and Finance, from the University of Aix-Marseille III in Aix en Provence and a Master…

The American fintech GENEVIÈVE has just deployed its activities in sub-Saharan Africa through a program of financing 150 TPE and African SMEs with high potential. Indeed, it wants to capitalize on its access to financial markets through blockchain technology to remove the obstacles to financing the African private sector. According to Fabien Dureuil, CEO of the Alternative Financing Platform, “The private sector is the heart of the economic development and human capital of the African continent. To give it a chance to succeed will accelerate the liberation of economic and human potential: it is our mission at GENEVIÈVE “. In…

Kenyan President Uhuru Kenyatta has announced the sale of Maersk’s oil subsidiary to French Total. The operation is expected to accelerate the pre-exploitation phase of the oil field discovered by the British group Tullow Oil and the Canadian Africa Oil in 2012 in the Turkana region, located in northern Kenya. According to a presidential statement “Total has confirmed its commitment to ensure that the Lokichar-Lamu pipeline is the only route for Kenya’s crude oil from the Lokichar fields. Following this commitment, the government has consented to the proposed acquisition of the capital stock of Maersk Oil Exploration International (Mogas Kenya)…

The Central Guarantee Fund (CCG) has launched a new website entirely dedicated to the “Innov Invest Fund” and intended to finance innovation. With this platform, CCG wants to strengthen its commitment to startups and innovative project developers. This site allows a simple and intuitive navigation and centralizes all the CGC’s financing offers and solutions for start-ups and innovation, covering the three main areas in which the “Innov Invest Fund” operates. Seeding, Seeding and Venture Capital. The new platform also aims to highlight the news of the innovative and entrepreneurial national ecosystem, particularly the events organized by the CGC and its…

The African Union Commission (AUC) plans to launch the African Single Market for Air Transport (SAATM) in Addis Ababa on January 28 2018 during the African Union Summit. This will be the first flagship project of the AU 2063 Agenda nearly two decades after the adoption of the Yamoussoukro Decision in 1999. According to Amani Abou-Zeid, Commissioner for Infrastructure and Energy of the African Union Commission, “the launch of the single market for air transport in Africa will promote trade, cross-border investment in the sectors of services, including tourism “. “This will result in the creation of 300.000 additional direct…

The International Renewable Energy Agency (Irena) and the Abu Dhabi Fund for Development (ADFD) will provide 25 million dollars for the development of solar projects in Mauritius and Rwanda. The announcement of the decision to invest in these two countries, under the Irena / ADFD Project Facility, was made on the occasion of the holding of the 08th Session of the General Assembly of the International Agency. for renewable energy last week in the United Arab Emirates. Irena is a global platform for cooperation and information exchange in renewable energies. Mauritiuswill receive a loan of 10 million dollars provided by…

The AfDB and Afreximbank loaned 25 billion FCFA to the Mbanga Plantation Company (SPM) of Cameroon to boost plantain production. The announcement was made by Louis Paul Motaze, the Cameroonian Minister in charge of the Economy, this Wednesday 24 January in the locality of Mbanga (Coastline) during a visit to bring the support of the government to the revival of the activities of the Mbanga Plantation Company (SPM). Indeed, indicates the Ministry of Economy, the SPM has just appointed a temporary administrator who will proceed to its relaunch, through the creation of a new company whose name has not yet…

The new Fekola gold mine in western Mali, owned by B2GOLD, will start its operations next February at 3. It will enable Mali to consolidate its position as 3th largest African producer of gold in Africa, behind South Africa and Ghana “The Malian state is a shareholder in 20% of the new mine,” mines minister Tiemoko Sangaré said during a visit to the unit ahead of the inauguration. According to B2GOLD Group President Mali, Mamadou Diarra, with a life of 12 years, the mine is expected to produce annually 350 000 ounces on the first 7 years, ie 11 tons…

Sung Yoon, President and CEO of Samsung Electronics in Africa, presented his global vision for Senegal in 22 and for the continent, on Monday, January 2018 in Dakar. During a press conference on the sidelines of the first strategic conference that the multinational held with its Senegalese partners, Mr Yonn reaffirmed his commitment to provide products and services of the highest quality on the market. “As a dynamic and innovative organization, Samsung is constantly exploring groundbreaking ways to provide our customers with the best products, sales, support and marketing capabilities,” said the President for Africa. In 2018, the electronics manufacturer…

Wafa Assurance ranks first among African insurance companies in the Middle East and North Africa (MENA) region. According to Atlas Magazine which led the ranking, the company has “a performance due to the strength of its results and its innovation that allow it to best meet the specificities of its markets.” It should also be noted that Wafa Assurance is the largest African insurance company in Africa (excluding South Africa). As a reminder, Wafa Assurance is a Moroccan insurance company that is part of the Attijariwafa bank group. Since 2008, the entity is leader of the insurance sector in Morocco…

The Senegalese rights Insurance Corporation SONAM account to settle soon in Cameroon, the result of a joint venture with the Cameroonian company zenithe insurance. According to a source close to zenithe insurance, this is the culmination of over two years of collaboration with the arrival of the sign of Sonam, a leading company in the life insurance in Senegal. Linking the two companies is expected to give birth to zenithe Afrika Life in accordance with the approval issued by the Inter-African Conference on Insurance Markets (CIMA). With the arrival of SONAM, we note a Senegalese breakthrough in Cameroon in the…

South African Reserve Bank Governor Lesetja Kganyago has been appointed head of the International Monetary and Financial Committee (IMFC), the advisory body of the Board of Governors of the International Monetary Fund (IMF). Elected for a three-year term, Mr Kganyago succeeds Agustín Carstens, former governor of the Bank of Mexico, who resigned from the presidency on 1 last December to take up the post of managing director of the Bank for International Settlements (BIS). Deputy Governor of the Reserve Bank of South Africa from May 2011 to November 2014, then governor of the same institution, Kganyago was notably responsible for…

Partech Ventures has just launched the Partech Africa fund, which aims for an investment capacity of 100 million euros. It is the first of its size dedicated solely to financing African digital start-ups. The Partech Africa fund which will put down its suitcases in Dakar. The fund has raised more than 57 million in commitments from numerous investors including IFC, a member of the World Bank Group, the European Investment Bank, Proparco and Bpifrance. The fund will be dedicated to the financing of early stage technology companies, with initial tickets ranging from 500.000 euros to 5 million euros. In total,…

African representatives at the UN have sent an invitation on Thursday 18 January to Donald Trump, the US president, for the African Union summit to be held in Addis Ababa on January 28 and 29. Far from being an invitation to complacency, African diplomats hope to get a face-to-face meeting between Donald Trump and African heads of state. Jerry Matjila, South African ambassador and spokesman for the representatives of African diplomats at the UN made the proposal on behalf of the group, saying it “might be useful” for Trump to speak directly to African leaders. It was during a meeting…

Former Ivorian head of state Laurent Gbagbo and his last prime minister, Gilbert Aké N’Gbo and two of his former ministers were sentenced on Thursday 18 January, 20 years of imprisonment “robbery” of the national agency of the Central Bank of West African States (BCEAO) during the Ivorian post-election crisis. Former President Laurent Gbagbo currently on trial at the International Criminal Court (ICC) in The Hague in the Netherlands, Gilbert Aké N’Gbo (former Prime Minister), Koné Katinan (former budget minister) and Désiré Dallo (Former Minister of Economy and Finance) were sentenced to 20 years in prison with a fine of…

The Center for Sustainable Development Goals for Africa (SDGC) on Tuesday 16 January 2018 in Monrovia signed an agreement with the Government of Liberia. The Center is an independent international organization that provides technical support and expertise to national governments, the private sector, civil society and academic institutions to accelerate the implementation of the SDGs across Africa. The SDGC builds on the existing successes of the African continent by bringing together people, ideas and innovations from around the world to collectively build a more sustainable future As a reminder, the Center for Sustainable Development Goals for Africa was established in…

The Prime Minister of Senegal, Mohamed Boun Abdallah Dionne, proceeded, Tuesday 16 January 2018, to the inauguration of the Ten Merina power plant located at 120 Kms northeast of Dakar. The opening of this new 30 Megawatt plant comes six months after the inauguration of Senergy’s power plant. The project will cover the electricity needs of more than 225 000 inhabitants at a more competitive cost than that of the country’s thermal power plants and will prevent the emission of 33 300 tons of CO2 per year by directly replacing production units at oil base. The Ten Merina power station…

The Republic of Congo announced, on Tuesday 16 January 2018, its wish to join the Organization of Producer Countries Producing Oil Exporters (OPEC). According to a statement signed by the Minister of State, Chief of Staff of the Head of State “this desire for the imminent accession of the Congo to OPEC reflects the desire of President Sassou, to place his country among the world leaders, carriers proposals in international negotiations “. Through this approach, the statement continues, the Congo intends to give itself the means to take its place in the definition of policies and decision-making within OPEC. The…

The National Oilseed Marketing Company of Senegal (Sonacos) which sought to raise 50 billion FCFA to finance the collection of oilseeds has obtained funding from 52, 1 billion FCFA being mobilized The amount has been granted by the Islamic Society for the financing of International Trade for Sonacos financing of its program of collection of peanut seeds 2017 / 2018 by the State of Senegal through the Islamic Development Bank (IDB) ). Indeed, the subsidiary of the Islamic Development Bank has committed to mobilize this amount to support the groundnut sector during a visit of the Senegalese Minister of Finance…

The Chadian government has decided to set up a toll free number to fight corruption and embezzlement. According to Dr. Abdoulaye Saber Fadoul, Chadian Ministry of Finance and Budget, “the launch of the 700 toll free number allows every economic operator or any other individual to alert the Inspectorate General of Finance to denounce any unscrupulous agent who would seek to bribe in the course of issuing an administrative paper or paying a fee “. The initiative “is part of the consolidation of public finances to fight against the diversion of funds generated by the various financial authorities,” said the…

The Algerian oil and gas companies Sonatrach and Libyan Noc signed Monday, 15 January 2018, in Algiers an agreement on the joint management of hydrocarbon deposits located on the common border of the two countries. According to a statement from Sonatrach, these are the gas fields of Alrar and Wafa, which were the subject in September 2006, a joint study conducted by a foreign consulting firm to confirm the communication between these two deposits. Through this agreement, the two companies decided to update this study using the technical data acquired since January 2008 to date. It should be noted that…

Koji Minami, Ele Asu and Jean-Christophe Brindeau just been appointed Chief Operating Officer, respectively, director of the Communication Group and Managing Director of CFAO Retail. As of 1 January 2018, Mr Koji Minami, 49 who completed his career with Toyota Tsusho Corporation (TTC) for 26 years in Japan, China and Malaysia is appointed Chief Operating Officer and member of the Board of administration Group. The new delegate DG mainly held positions within the Automotive Division. He was recently responsible department “Next Mobility Development” TTC. He succeeds Toshimitsu Imai, joined the Group in March 2013 as part of the alliance between CFAO…

The State and Bina Corp SA majority shareholders of Carthage Cement SA have decided to proceed with the sale of a block of shares representing 50,52% of the share capital of Carthage Cement SA by way of International Call for Proposals to a strategic or financial investor who will have the ability to manage and develop the Company. The ECC Mazars Consortium, IEG Tunisia, Corporate Advisory, Cabinet Mrabet Avocats has been retained by Al Karama Holding as sole advisor to assist in the realization of the sale transaction. The purpose of this Call for Expressions of Interest is to first…

Mediterrania Capital Partners (MCP), the private equity firm led by Saâd Bendidi, focused on growth investments for SMEs in North Africa and sub-Saharan Africa, has announced the acquisition through its third fund ( MC III) alongside DEG, Proparco and South Suez, a stake in “Construction Works General Casablanca” (TGCC), the first general contractor specializing in construction and works in Morocco and sub-Saharan Africa. MCII thus becomes the third fund launched by this company. The first fund, 62 million and the second fund, 120 million, were fully invested. The investment is intended to support the company’s expansion plans based on growth…

Republic of Congo: Oil Production Could Reach 117 Million Gross Barrels in 2018 According to Government Budget Estimates According to a source close to the Congolese Ministry of Finance, with this expected production of 117 million barrels and the price of a barrel of Congolese crude amounting to 60 dollars, the Congo intends to rake in 2018 oil revenues of more than 749 billion F CFA. These oil revenues are up sharply by some 357 billion CFA francs compared to the 2017 year, which recorded a low income of some 391 billion F CFA. They represent 2 / 3 of…

The South African Airways (SAA) announced Friday, 13 January 2017, have signed with the airline company Angola Airlines (TAAG) a code-share agreement. The agreement, which comes into effect this Monday 15 January 2018 will see code sharing between SAA and TAAG on their direct services between Johannesburg and Luanda and between Cape Town and Luanda. In return, Angola Airlines will share codes with SAA on its direct services between Johannesburg and Luanda, and will include Johannesburg and Harare, Johannesburg and Lusaka, and Johannesburg and Hong Kong in the near future. According to SAA, agreements between airlines facilitate the movement of…