Author: Nephthali Messanh Ledy

Bank of Kigali does not intend to deploy full banking in Nairobi in the short and medium term, reports the local press quoting Diane Karusisi, the director general of the institution on the move in the Kenyan capital. “The Kenyan market is already very competitive. So we really want to meet the needs of our market (Rwanda) before thinking about venturing into new markets in the region, “she said. “We still have a lot of opportunities in our national market. It’s a market we know very well, “she added. With a representative office operating since 2013 in Nairobi, the group…

The Coordination, Audit and Accounting Expertise Trustee tate & associés, an accounting, auditing, consulting, studies and training firm based in Lomé (Togo) commemorates the beginning of December 2018, the 25 years of its activities. The FICADEX INTERNATIONAL network is a network of nearly thirty firms located both in Europe and in Africa and whose “noble ambition”, it is said, is “to play an important role in the exercise. and the development of their profession “. Indeed, its African, European and international presence makes it possible to intervene in different languages ​​and to provide solutions to the multiple needs of companies…

The Central Bank of Tunisia (BCT) announces having signed, Friday, November 16, two cooperation agreements with its Moroccan sister, Bank Al-Maghrib. According to a statement issued on the Tunisian Broadcasting Institute on its website, the first concerns the formalization of the general cooperation between the two institutions in a conventional framework to serve future cooperation actions, and the second relates to cooperation in banking supervision and information exchange. “Its purpose is to organize and implement cooperation actions between the two authorities, in particular in the fields of cross-border institution surveillance, on-the-spot checks, the handling of difficulties and bank resolution, the…

“Insurer, a poorly known job”. This is the title of an essay published this weekend by Magloire Dochamou, former director of insurance companies. According to the author, the title is an interpellation of all socioeconomic actors who can find some small recipes to act on the levers necessary for a better penetration of insurance in Africa. Indeed, he says, the insurance business and its operation remain largely unknown to the public. “This largely explains the low rate of insurance penetration in Africa in general and in the sub-Saharan zone in particular,” he says. Through this book published by the Editions…

In Ghana, the mobile operator, AirtelTigo, has entered into a partnership with BIMA, the provider of mobile health and insurance services, with the aim of offering products mainly related to life insurance, hospitalization or accident. “The new partnership with BIMA further consolidates our financial inclusion proposals and is another innovation in the Ghanaian telecommunications industry,” said Murphy Chaganti, AirtelTigo Ghana’s Director of Operations at the inauguration of a joint office. . With an offer of 10 pesewas (about $ 0.03) a day, the insurance program covers 2 million people in Ghana. It offers customers the ability to process their payment…

Heads of State and Government of the African Union (AU), about fifteen, are in conclave since Saturday in Addis Ababa for an extraordinary summit on the reform of the institution. In his opening address, the organization’s chair, the organization’s chairman, Moussa Faki Mahamat, said that “this reform is also and above all a matter of political will,” after having praised the efforts already made in this direction. Despite the road traveled, he insisted, many of the projects open to reform remain to be concluded. And call on heads of state to take into account the need for the Commission to…

Held Friday, November 16 in Libreville, the first cabinet without the President Ali Bongo Ondimba, hospitalized, adopted a draft text authorizing the State to contract a loan equivalent to 19.8 billion CFA francs from from China Construction Bank Corporation. Presented by the Minister of the Economy, Foresight and Development Programming, this operation, according to the executive, is part of the financing plan for the construction of the Palais des Sports Libreville. This is the first cabinet meeting held in the absence of Ali Bongo Ondimba since his disputed re-election in August 2016. He was led by his vice-president Pierre-Claver Maganga…

Between Brazzaville and the International Monetary Fund (IMF), the agreement on a possible financial arrangement under the Extended Credit Facility (ECF) is still far. Witness the statement issued by the institution at the end of a new mission in the Congolese capital. Officially, the mission was in Congo to continue the discussions. “The planned program, supported by the ECF, is intended to help the Republic of Congo restore macroeconomic stability and achieve higher and more inclusive growth,” the statement said. In particular, he continues, the program seeks to restore debt sustainability and provides for a wide range of reforms to…

Guinean President Alpha Condé urged the ministerial departments concerned to continue to improve the incentive framework for investments in Guinea, says the minutes of the council of ministers held earlier this month. According to Mr. Conde, this is about “making our country a destination of choice for investors”. “He appreciated the recognition by the World Bank’s Doing Business team of Guinea’s efforts with Côte d’Ivoire and Togo, among the three most reforming countries in French-speaking sub-Saharan Africa, for the 2019 edition. “Continues the document. Indeed, the country broke its own record for the third year in a row in the…

Ecobank Ghana’s pre-tax profit rose 40.68% to 353.3 million GH ¢ (about $ 73 million) in the first nine months of the year, according to unaudited financial statements. the bank. According to the same source, deposits increased by 26.12% year on year, from 5.7 billion GH ¢ in September 2017 to 7.4 billion GH ¢. Loans also increased by 20.70% (4.3 billion GH ¢ compared to 3.5 billion GH ¢ a year earlier). The bank also has a capital of 416 million GH ¢ as of September 30, 2018.

Revenue collection improved in the first half of 2018, but declined somewhat in the third quarter, the International Monetary Fund (IMF) said in a statement released Oct. 31. According to Ivohasina Razafimahefa, the head of a team from the institution who stayed in Lome, this decline is mainly due to a decline in port traffic (no figure is advanced by the IMF, Ed). The country’s somewhat delicate socio-political situation in the second quarter of 2017 did not favor good business continuity at the Port of Lome, he argued. In the first half of 2018, the analysis of the determinants of…

The Bank of Central African States (Beac) announced, at the end of the third monetary policy committee on 31 October, that the interest rate for tenders has now increased from 2.95% to 3.5%. This measure comes a few months after a first increase of 50 basis points occurred on March 22, 2017. According to the BEAC, it aims to strengthen the ongoing recovery in the volume of foreign exchange reserves of the Central African Economic and Monetary Community ( Cemac), and thus puncturing liquidity. The region had, in fact, lost a total of $ 10.6 billion between 2014 and 2016.…

After experiencing a deceleration in 2017 due to socio-political tensions, economic growth should accelerate to reach a rate of 4.7% in 2018, according to the International Monetary Fund (IMF). “Overall, economic activity is showing signs of stabilization, despite persistent weaknesses in some sectors,” said a team from the institution who was program supported by the Extended Credit Facility (ECF). According to the same source, inflation stood at 0.9% (yoy) in September 2018. “The major fiscal consolidation effort continued in the first half of 2018; the overall fiscal balance showed a surplus of 0.7 percent of GDP during this period, “said…

The World Bank officially releases tomorrow mid-day Wednesday, its report Doing Business 2019, the sixteenth of its kind. Beyond the reference tool that it has become, the ranking faces a few years ago to many critics; and not least. Launched in 2002, the Doing Business report has emerged in debates on economies – especially in Africa – as a unit of measure for the regulation of business and its effective application. In countries such as Togo, Burundi, Côte d’Ivoire, Guinea and Congo, cells have even been set up by the rulers to monitor the progress of the reforms. In approximately…

Preliminary estimates indicate that Benin’s economic growth “will accelerate further mainly because of dynamic port activity,” according to a note from the International Monetary Fund (IMF). “Economic activity remained strong in 2017 (with an estimated growth of 5.8%), supported by high public investment, record production and processing of cotton and the recovery of the Nigerian economy. The current account deficit has widened in 2017 due to an increase in imports of goods, reflecting the increase in public investment, “said the organization in a press release issued Monday, October 29 after a mission in the country. He added that the medium-term…

Beninese authorities and International Monetary Fund (IMF) team reached preliminary agreement on third review under Extended Financing Facility (ECF) program, announces press release on IMF website ‘organization. “The results achieved under the ECF-supported program remain satisfactory. On the basis of available data, all the program monitoring indicators (quantitative and structural) defined for the end of June 2018 have been globally achieved, “says the team led by Luc Eyraud from 18 to 29 October 2018 in Cotonou. According to the statement, discussions focused on the 2019 draft budget, recent economic and financial developments and the policies needed to foster inclusive growth,…

In Morocco, interbank transfers recorded a slight increase of nearly 2%, from 94,012 orders in 2016 to 95,860 in 2017, according to the latest annual report by Bank Al-Maghrib on financial market infrastructures and investment vehicles. their monitoring and financial inclusion initiatives. They represent 51% of the total volume of payment orders settled by the Moroccan Gross Settlement System (SRBM), with a 62% increase in value in 2017 compared to 2016 (more than 330 billion dollars, compared with around 203 billion). As for transfers on behalf of customers, the report of the regulator and supervisor of financial market infrastructures and…

The State of Burkina Faso issues since Thursday, October 18 on the regional financial market, a bond issue by public offering to mobilize 75 billion CFA francs. According to an opinion issued to this end, this fundraising aims to finance growth-enhancing projects included in the National Economic and Social Development Plan (PNDES). Subscriptions extend until November 8, and are open to institutional investors and individuals resident or not in the EUMOA area. Identified by the Regional Council for Public Savings and Financial Markets (CREPMF), the financial market regulator of WAMU, the transaction offers a 6.5% interest rate net of tax.…

The Agency for the Development and Promotion of the Grand Inga Project (ADPI-DRC) announced Tuesday, October 16, to have signed an exclusive development agreement with consortiums China Inga III of China and Pro Inga of Spain, at the end a call for tenders launched in 2010. “Under this agreement, the Democratic Republic of Congo ratifies the constitution of a single consortium by the two groups, candidates for the tender for the Inga 3 Project and remained in contention,” reads a statement Press. By decision of June 12, 2017, recalls the document, the Agency represented by Bruno KAPANDJI KALALA, Chargé de…

The Eranove group was selected for the construction of a 65 MW tri-fuel thermal power plant after a “competitive dialogue” launched in January 2018, according to an announcement made Friday, October 12 by the Togolese authorities. “Despite the efforts in the sector, the government continues to import electricity, hence the need to increase our own capacity by building a new plant. It is for this purpose that the Government has agreed to have a new 65 MW power plant on the Lomé port site, “he said in an official statement. The Council of Ministers had just adopted the decree authorizing…

The Togolese government has examined and adopted this Friday in the Council of Ministers, a decree on the establishment, attributions, organization and operation of the institutional framework for implementation of the Green Climate Fund (GCF). This instrument “plays an important role in the implementation of the Paris agreement on climate. It deploys a range of financial instruments namely grants, loans, equity investments and guarantees, “says an official statement issued to that effect. Launched since March 2017 at the national level, the activities of the preparation process for access to the Green Climate Fund “have made it possible to strengthen the…

The Inga 2 hydroelectric plant will increase production at the end of October, according to an announcement made by its director, Alidor Ntumba. To this end, he informs, new machines will be added to the plant in order to cover Kinshasa, the capital of the Democratic Republic of Congo, and other major cities of the country. “The World Bank has funded two large groups at Inga II. It’s the G 21 and G 22 machines that are virtually in operation and there is also the KCC mining company that has funded two groups, G 27 and then G 28, “said…

The chairman of the Angolan Postal Bank, João Freire, announced in September, nearly 18 billion kwanzas (about 60 million dollars) for the opening of new windows Xikila Money in the 16 provinces of country. Speaking on the sidelines of the third edition of the Postal Forum on “Financial Inclusion, a fundamental right,” Freire said the institution had already invested $ 35 million in ticket windows. They only work since the launch of the bank in Luanda and Huambo. According to the chairman of the postal bank’s board of directors, the institution aims to “grant a financial personality to the Angolan…

Angolan President João Lourenço, leading a delegation on an official visit to China, has obtained a $ 2 billion loan for financing infrastructure projects and reducing the weight of the country’s public debt. Signed by his Minister Archer Mangueira of Finance, on October 9, 2018 with the China Development Bank (China Development Bank), the agreement whose interest rate and terms of repayment are still unknown relates to the financing of several projects already identified in the fields of construction, energy, water and industry. The loan “will be intended to finance projects likely to have a leverage effect on the productive…

The Italian company Eni will buy the British BP, half of its 85% stake in an oil and gas license in Libya in order to restart exploration and development activities in 2019, according to an announcement made Monday, October 8 by both groups. Indeed, a letter of intent was signed in London by the Libyan state oil company, the National Oil Corporation (NOC) and the two companies, paving the way for the finalization of the agreement, the financial terms of which remain unknown. The agreement, according to NOC President Moustafa Sanalla, reflects a renewed confidence in the oil and gas…

This is an old dream caressed in recent years, the Nigerian billionaire Aliko Dangote: see his cement company listed on the London Stock Exchange, the London Stock Exchange. Speaking this week at the fifth edition of the FT Africa Summit, the businessman said his company Dangote Cement was finalizing the preparations to this effect. Adding that the IPO will take place after the elections scheduled in February 2019 in his country. Among the financial institutions that accompany the operation, Aliko Dangote quotes Merrill Lynch, an American investment bank, and the British Standard Chartered. “We have the ambition to create a…

The International Monetary Fund (IMF) has revised down Nigeria’s economic growth rate for 2018, with a new forecast of 1.9 percent, according to its latest report on the World Economic Outlook. In December 2017, the organization announced a growth rate of 2.1% of GDP, thanks in particular to reforms undertaken by the government. She had nevertheless drawn attention to the fragility of Nigeria’s economic situation, despite a recent exit from recession. In terms of inflation, the IMF announces a forecast of 12.4%, after the 16.5% recorded in 2017, and 13.5% for 2019. A forecast that it attributes to the tightening…

Tito Mboweni, former minister of labor under Nelson Mandela and former governor of the Central Bank, was appointed Tuesday, finance minister of South Africa, replacing Nhlanhla Nene, targeted by a corruption investigation. “Mr. Mboweni brings to this position a vast experience in the fields of finance, economic policy and governance,” said Cyril Ramaphosa, the South African president in a message broadcast Tuesday night. “He is assuming this responsibility at a crucial time for our economy, as we intensify cooperation among all social partners to increase investment, accelerate growth and create jobs on a large scale,” he added. “Thank Mr. Nene…

The government of the Democratic Republic of Congo (DRC) adopted and sent to the National Assembly, a draft budget law, management 2019, balanced in revenue and expenditure to 10,352.3 billion Congolese francs (about 5.923 billion dollars), down 0.01% from 2018 (10,353.2 billion). In terms of revenue, Kinshasa expects to mobilize 9,604.9 billion against 8,927.9 in 2018, an increase rate of 7.6%. In the appendix, the government expects $ 169.7 billion and $ 577.8 billion in special account receipts. On the expenditure side, the nomenclature is almost the same: 9,604.9 billion under general budget expenditure, against 8,927.9 billion in 2018, an…

Albert Zeufack, World Bank chief economist for Africa, said on Wednesday, October 3, 2018 that Congo is “coming out of recession, notwithstanding the conclusion of a program with the International Monetary Fund (IMF), which is lagging behind to be recorded “. Speaking from Washington via a video conference organized by the institution on the occasion of launching its report on Africa’s economic prospects, Zeufack said that “the road is full of pitfalls, but it is necessary to huge efforts in reforms to maintain this growth “, which the rate is estimated at about 4% in 2018 according to the government,…