Author: Adama WADE

By Adama Wade, Marrakech Far from the devastation that followed the deadly earthquake on Saturday, September 9, the wooden, aluminum, and renewable material structures set to house the annual assemblies of the World Bank and IMF have absorbed the shock well. “No significant damage,” said one of the officials responsible for this massive construction site, covering 50 hectares and expected to host 140,000 delegates from 190 countries worldwide. The event is scheduled from October 9 to 15, 2023, at the Bab Ighli site. Over a thousand workers labor daily at this site, adjacent to the old city, the Medina, which has…

“Our vision is to build a world-class bank and contribute to the financial and economic integration of Africa!” Having taken office in March 2023 as the CEO of the foremost Pan-African banking group, Kenyan banker Jeremy Awori gave an exclusive interview to Financial Afrik. He discussed the outlook for Ecobank Transnational Incorporated (ETI), his top priorities to boost profitability, the situation in specific strategic countries, and the disconnection between the stock price of the group and its fundamentals. Exclusive. You’ve been at the helm of the Ecobank TI Group for a few months, the first Pan-African group by its geographical…

It’s been eight now years that Financial Afrik, parent group of Capital Afrik,  presents each year its ranking of those who are transforming Africa. Until 2017, this list was compiled by the editorial staff of Financial Afrik and its columnists external. On December 11, 2018, we designate for the first times the “Minister of the Economy and Finance of the Year» and “Financier of the Year” at end of a ceremony and a conference debate devoted to financial communication. Since then, the exercise has expanded from year to year and from country to country country with a first work of…

Head of the U.S. Trade and Development Agency (USTDA), Nigerian-born lawyer Enoh Ebong was among 17 senior U.S. officials who were in Marrakech from July 17-20 2022, on the sidelines of the USA-Africa business meeting. Established in 1992, the USTDA promotes growth in developing countries, while creating American jobs through exports. What conclusions can we draw from this USA-Africa business meeting? The USTDA is a US government agency with a unique dual mission. We are a foreign aid agency that develops high quality sustainable infrastructure in emerging economies overseas. At the same time, we have a mandate to support American…

The appetite of investors is turned towards renewable energies, Fintechs and high-impact startups. This is what we see through this Focus on investments and exits of private equity funds in Africa produced with data from the African Venture Capital Association (AVCA). Amethis and IFC sell their stake in the Kenyan distributor Naivas to Proparco and DEG Amethis, alongside its partners, DEG, MCB Private Equity and IFC, a member of the World Bank Group, reached an agreement at the end of June 2022 to sell its stake in Naivas International (Mauritius), which owns 100% of the shares of Naivas Limited, a…

A perfect illustration of the need for African powers to invest in trading and group purchasing to overcome the high cost of living A solemn photo taken on August 1 under the clichés of cameras around the world and a humanitarian cause highlighted. But the Razoni cargo ship, one of the first 5 to leave the port of Odessa thanks to the Russian-Ukrainian treaty obtained under Senegalese-Turkish auspices, has still not reached the port of Beirut. The Ukrainian ambassador stationed in the land of cedars had nevertheless invited the press and prepared the petit fours but had to cancel at…

While the talks between Ukrainians and Russians, conducted under Senegal-Turkish auspices, have enabled a first shipment of cereals from Odessa, Africa holds its breath and counts the days. The disruption of international supply chains, already weakened by the pandemic, has been compounded by the war in Ukraine creating a snowball effect on food and fertilizer markets, which are interdependent. In June 2022, the number of acutely food insecure people – that is, people whose short-term access to food has reduced to the point of putting their lives and means at risk livelihoods – reached 345 million in 82 countries, according…

In three years, BNP Paribas will have liquidated its holdings in 8 subsidiaries in Africa excluding Morocco, Algeria and South Africa. In Côte d’Ivoire, the sale process of the Banque internationale pour le commerce et l’industrie de la Côte d’Ivoire (BICICI), a subsidiary of the French group BNP Paribas, is in its final phase. The offer is almost closed. Only one candidate is in the running because of the solidity of its technical and financial offer and the will of the Ivorian State to constitute a large public banking pole. According to our information, it is a consortium made up…

“Our success is based on strict adherence to the fundamentals of good governance” President of the Republic of Botswana since 2018, Mokgweetsi Masisi was one of the stars of the United States – Africa business summit which took place in Marrakech from July 18 to 21, 2022. At the head of the only African investment grade country ( A3 with Moody’s and BBB+ with S&P Global Ratings), this professor of social sciences has been able to maintain his country’s good reputation with foreign investors and the financial market in general by continuing in the tradition of administrative transparency initiated by…

The ECOWAS Bank for Investment and Development (EBID) is launching a bond loan of 120 billion FCFA denominated over 7 years. This is the second installment, on the heels of last year’s show. To explain its scope, the President of EBID, Dr. George Agyekum Nana DONKOR, granted us an exclusive interview. Mr. Chairman, EBID is going to issue a 7-year XOF 120 billion bond. What explains this new issue on the WAEMU market? Following the impact of Covid-19, the world is experiencing a general slowdown in economic activity marked by the war in Ukraine with its consequences for the world…

Tunisie Telecom, BSA telecommunication and COMATEL announce the signing, on March 14, of an exclusive agreement with the company TELECEL Group for the sale of 100% of the shares of the company Mauritano-Tunisienne des Télécommunications (Mattel) Mattel is the first mobile operator in Mauritania to have launched the GSM service. Since its creation on May 11, 2000, the result of cooperation between Mauritanian and Tunisian economic operators, Mattel has always relied on the quality of its network, the professionalism of its staff, the leadership of its management team and proximity to its customers. Mattel is a major player in the…

“Our role is to support African economies ”   Admassu Tadesse, is President Emeritus and Group Managing Director of the Trade and DevelopmentBank (TDB Group, former PTA Bank), a specialized development finance institution serving Eastern and Southern Africa and beyond. In this interview the “Best development banker in Africa“, a distinction presented during the last Financial Afrik Awards, looks back on the highlights of his institution and discusses the outlook for 2022.   2021 was a rich year for TDB. How has your portfolio evolved?   Our portfolio has grown strongly over several years in terms of total balance sheet and revenue, with a very good momentum.  Of course,…

On the eve of the meeting of African insurers, the Secretary General of CIMA, Blaise Abel EZO’O ENGOLO talks about the achievements of the Institution and the challenges to be met in terms of technological and financial innovation as well as communication. . You were elected a year ago and you took up your duties as Secretary General of the Inter-African Conference on Insurance Markets (CIMA) in April 2021. Could you tell us about this institution, particularly with regard to concerning the objectives and missions assigned to it? Thank you for this opportunity which allows me to provide you with…

The Regional Stock Exchange (BRVM) hosted on February 28, 2022, the listing ceremony of the bond loan “FTC Teyliom Immo 7% 2021-2028 (FTIMC.01). The public offering made it possible to raise 20 billion FCFA (30 million euros) at the rate of 7% over a subscription period spread out from May 20 to June 18, 2021. The UCITS subscribed to the volume collected for about 67%. In addition, 56% of subscriptions came from Côte d’Ivoire against 8% for Senegal. The early closing of the loan, in one week, testifies to the depth of the market and the appetite of investors for…