Author: Editor

Kapital Afrik intends to deliver strategic financial information to executives and managers, through a daily newsletter and a website that covers all African finance.

The President of the Republic of Cameroon, Paul Biya, signed on May 24, 2018, a decree ratifying the loan agreement for an amount of 30 million euros (19 billion FCFA) expandable to 48.80 million euros. (approximately 32 billion CFA francs) between the Republic of Cameroon and BMCE Bank International PLC, a subsidiary of the Moroccan bank Bank Africa. The loan will be used to finance the rehabilitation of Roumdé Adjia de Garoua stadium, the construction of its annex stadium, and a four-star hotel in the city. This loan is timely for a country engaged in a race against time to…

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Ecobank has increased its customer base by 40% in 2017 and aims to reach 100 million customers by the end of 2020. Ecobank was awarded two trophies at the prestigious African Banker ceremony held at the Paradise Hotel in Busan, South Korea. Impressed by the way Ecobank has leveraged digital financial services and an improved service model to establish itself as the retail bank of choice, the jury has named it Africa’s best retail bank. Ecobank also received the Innovation Award for its revolutionary Ecobank Mobile app, which has already been downloaded by over 5 million users. This award was…

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The African Export-Import Bank (Afreximbank), the Finance Center for South-South Cooperation (FCSSC) and the Made-in-Africa Initiative (MIAI) have announced a joint effort to mobilise $1 billion in equity fund to channel foreign direct investment from developing (South) economies towards Africa’s industrialization and integration into global value chains. The framework agreement executed by the three organisations in Beijing recently, mark the establishment of a strategic partnership among the institutions aimed at leveraging diversified financial instruments and resources to boost Africa’s industrialization and expand China-Africa economic and commercial cooperation The objective of the arrangement is to develop a common investment platform anchored…

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WARA upgraded Coris Bank’s long-term local currency rating International (CBI) from BBB to ‘BBB +’ in May 2018. This rating is at the same level that the Burkinabe national ceiling, which is also established – according to WARA-‘BBB +’. WARA has also upgraded CBI’s short-term rating from ‘w-4’ to ‘w-3’. The perspective attached to this notation is now stable. As a reference, the international currency ratings that WARA assigns to CBI became: iB + / Stable / iw-5. Among the bank’s strengths, Wara mentions: CBI’s strong position in the Burkinabe banking market, built in 8 years, establishing itself as the…

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As a prelude to the second edition of the country risk conference Côte d’Ivoire, scheduled for May 31 in Abidjan, Stanislas Zézé, CEO of Bloomfield rating agency, discusses the issues and prospects of this event organized in partnership with Financial Afrik. You are organizing the second edition of the conference “Risk -Pays Côte d’Ivoire”. What are the objectives of this event? The second edition of the conference debate on the Ivory Coast risk country, is part of a logic of pedagogy, discussions and constructive exchanges, and search for solutions for a better organization of the business environment and the strategy…

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Already listed on the Rwanda Stock Exchange, Bank Of Kigali has just received the green light from its board of directors (meeting May 25, 2018) for a listing on the Nairobi Stock Exchange (NSE). The planned operation in the second half of this year is part of the bank’s $ 70 million plan. Some $ 20 million will be spent on digital, said Diane Karusisi, chief executive of the bank. Bank Of Kigali’s NSE introductory transaction is a first for a Rwandan company. Founded 51 years ago, Rwanda’s leading banking institution in terms of assets has been listed on the…

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Not a free zone but rather a financial zone according to the international nomenclature and definition Casablanca Finance City is progressing well in its continental vocation. Since 2012, about 75% of Morocco’s investments in Africa pass through this structure. At the end of March, the special place set up in the heart of Casablanca to support Moroccan and international investors to Africa counted 150 companies established covering 46 countries of the continent. “These are all companies that cover Africa and invest from Casablanca,” said Manal Bernoussi, Director Strategy, Marketing and Communication of Casablanca Finance City in an interview with Financial…

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Intra-regional trade can only be expected to expand economic growth and development if there is improved access to market information, Dr. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has yesterday. Dr. Oramah, who was speaking in Busan, South Korea, on Monday during a breakfast event organized by the Bank to promote the maiden Intra-African Trade Fair (IATF) scheduled to hold in Cairo from 11 to 17 December, said that, unlike in relatively mature markets where information on the sources and suppliers of specific goods and services were seamlessly available, the situation was different in Africa. Most African manufacturers do not…

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African Development Bank President Akinwumi Adesina presented the Africa Road Builders -Babacar Ndiaye trophy to the Kenyan delegation on the sidelines of a ceremony held in Busan, South Korea, on May 23, 2018. The Babacar Ndiaye 2018 Trophy is awarded to Kenyan President Uhuru Kenyatta, rewarding the development of road, rail and airport infrastructure in this key East African country. Kenya Road, Kenya Railways Station and Lapsset Development Authority (which manages the corridor connecting South Sudan to Lamu Port) were present at the ceremony. The event held in the prestigious setting of the Park Hotel Busan was preceded by a…

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This year again, there were many bankers and managers looking for the grail at the African Banker Trophies. The suspense lasted the time of a business evening where African banking geography, expanding universe, will be granted on a few names and especially a name, that of banker of the year. Thus, BGFI in Gabon won the Regional Bank Trophy of the year in Central Africa. The title of Socially Responsible Bank of the Year was awarded to the Moroccan group BMCE Bank of Africa, considered a leader in sustainable finance. The Financial Inclusion Trophy went to Crédit Agricole du Maroc.…

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Nigeria’s Minister of Finance, Kemi Adeosun and Director-General of African Risk Capacity, Mohamed Beavogui exchanging copies of the MoU in Busan, Republic of Korea. “The leadership role of Nigeria in the continent and in the establishment of the ARC makes the signing of a formal MoU quite momentous for our work in the region. We want to create systems that can truly protect the livelihoods of the most vulnerable and safeguard the significant development gains made by the country over the years.” ~ Mohamed Beavogui, DG, African Risk Capacity Busan, May 24, 2018 – The Government of Nigeria has signed…

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Salaheddine Mezouar has logically imposed new president of the Moroccan Employers’ Confederation (CEGM). The former Foreign Minister obtained 5,173 votes out of the 6,635 votes cast, while his competitor, Hakim Marrakchi, held 1,432 votes in the vote held on Tuesday. The new patron of the bosses starts his term on Tuesday for a period of three years. Industrial and then in turn Minister of Commerce, Minister of Foreign Affairs, Mezouar also headed the RNI (National Rally of Independents), party led by the current Minister of Agriculture, Aziz Akhannouch, given favorite for the next elections.

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A few weeks before the start of negotiations on the agreement of the Continental Free Trade Area (ZLECA), “the Senegalese private sector is not yet ready” to cross the line of the said zone. “We are not ready but we are preparing to be ready when the time comes,” said Ange Billong, chairman of the presidential council of investment and members of the National Council of Patronage of Senegal. Mr Billong was speaking on the sidelines of an information and sensitization session for the benefit of the private sector, parliamentarians and organized civil society, on Tuesday 22 May in Dakar,…

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The different panels allowed to discuss topics such as: The issues and impacts of Basel II, Basel III, How to optimize the Group’s credit risk assessment and management process? Managing the risk of skills breakdown The major issues of cybercrime, cybersecurity and fraud; The platform of systems and services within the Group; The challenges of innovation and digital transformation; Governance: role, duties and responsibilities of the leader The development of new products and services towards the bank of tomorrow How to reinvent customer proximity? The 2018 edition of the BGFI CEO Meeting ended Friday (May 18th) in Libreville, during a…

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