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, ratified the agreement establishing the African Legal Support Facility (ALSF) on April 13, 2018 in the presence of his cabinet. Cameroon is the 25th member state to ratify the treaty. The bill authorizing President Biya to ratify the agreement was introduced in the Senate, under the chairmanship of Senate Speaker Marcel Niat Njifenji, after the country’s National Assembly adopted the proposed statute. After the 100 members of the Upper House voted in favor of the bill on March 15, 2018, it was forwarded to the President for ratification. Cameroon has a…

Read More

Following the announcement of the custody of Vincent Bolloré, the group reacted through a statement which here is the substance. A subsidiary of the Bolloré Group is the subject of a survey concerning invoices for communication services in Guinea and Togo for the years 2009 and 2010, following a complaint by a former collaborator sentenced for misappropriation of ‘assets at 3 years and 9 months imprisonment firm and about 10 million euros in damages. The Bolloré Group formally denies that its subsidiary company SDV Africa has committed irregularities. The services relating to these invoicing were carried out in full transparency.…

Read More

In his terrible race against time since February 2017 against the company Millicom for the purchase of Tigo Senegal, Kabirou Mbodj faced two enemies: time and money. On the first duel, the CEO of the Wari group has thought he won when he succeeded, helped by Afreximbank, to mobilize the amount requested, 80 billion CFA francs. Alas, it was too late. The deadline had expired, releasing the Millicom group from the sales agreement linking it with the Wari. The case should not stop there, Kabirou Mbodj having sued the owners of Tigo Senegal before the commercial court and, at the…

Read More

The 15th Annual African Private Equity and Venture Capital Association (AVCA) Conference kicked off today with speakers, panellists and renowned investors. The conference welcomes the 600 leading private equity leaders, representing more than $ 13 trillion in assets, to discuss key trends that impact investment on the African continent in 2018 and beyond. of the. The fourth annual GP-LP Summit on Sunday, co-chaired by Hurley Doddy, Managing Director and Founding Partner at Emerging Capital Partners and Murray Grant, Managing Director, Head of CDC Group’s Intermediate Equity, served as a platform for managers funds and investors to discuss relevant issues facing…

Read More

Gecamines has sued Kamoto Copper Company SA (KCC) and its majority shareholder group controlled by Glencore, in the Kolwezi Commercial Court, for the purpose of seeking the dissolution of KCC for the non-replenishment of its own funds within the legal period. KCC is a 25/25 joint venture owned by the Gécamines Group and 75% by the Glencore Group. On April 22, 2018, Katanga Mining, a subsidiary of Glencore, took the initiative to make public and comment on the procedure thus initiated by Gécamines. Gécamines wishes, as far as it is concerned, to make the following clarifications: Gécamines was obliged to…

Read More

The Breton industrial Vincent Bolloré was placed in custody in the premises of the judicial police of Nanterre this Tuesday morning, within the framework of an open judicial investigation notably for corruption and concerning the conditions of acquisition of two port terminals in Africa. The billionaire, also first shareholder of Vivendi, is implicated in the context of a judicial investigation, opened notably for corruption and concerning the conditions of acquisition, in 2010, of two container terminals operated by the Bolloré group in Lomé, Togo, and in Conakry, Guinea. According to the newspaper Le Monde, which revealed the information, magistrates suspect…

Read More

On the occasion of the opening of the 3rd Annual Conference of the International Network of Francophone Investment Promotion Agencies (RIAFPI), April 19, 2018 in Libreville, the Director of the National Agency for the Promotion of Investments (ANPI) Gabon, Nina Alida Abouna, Executive Director of Junior Achievement (JA Gabon), Radia Garrigues and Bpifrance International Expertise Manager, Vincent di Betta, have signed a technical services contract as part of the reinforcement the capacity of Gabonese support structures to serve innovative entrepreneurs. This signature, in the presence of the Minister for the Promotion of Private Investment, responsible for national entrepreneurship, Madeleine Berre,…

Read More

The Moroccan Capital Market Authority (AMMC) has issued a visa for a perpetual bond of the phosphate group OCP S.A on the debt market. The operation is capped at 5 billion dirhams (500 million euros) with five compartments, one of which is listed on the Casablanca Stock Exchange. The subscription period runs from May 2nd to 4th, 2018. The OCP group has launched a major investment program for an amount of about 200 billion dirhams over the period 2008-2030. This investment program is partially financed by equity and debt. In order to satisfy part of these financing needs, the Company…

Read More

Mazagan Beach & Golf Resort is the craftsman of unforgettable holidays under the sun. In an exceptional place, the holidays are spent relaxing, leisure and sport. The whole family will be able to be lulled by the sweetness of summer, and share tasty moments around delicious meals offered by the restaurants feet in the water; choice of Spanish cuisine, barbecue grill and pizza. And, at Tutti Frutti at the edge of the pool, place to greediness. Around the beach, place to action with a multitude of activities for all ages: adrenaline rush in jet-ski, quad, or on the track karting,…

Read More

Total’s acquisition of Marathon Oil last March for a $ 450 million block in the Waha deposits has not yet received the green light from the Libyan authorities. The sale is disputed because of a price deemed low according to some. A counteroffensive by the National Oil Corporation (NOC), the Libyan state oil company, is not to be ruled out, say several sources. Tripoli is looking at the value of the 16.33% stake to eventually raise funds for a counter-offer with funding from Libya’s Libyan Investment Authority (LIA), a source quoted by Reuters as saying. The acquisition by Total must…

Read More

Launched with fanfare in July 2012 in Brazzaville, the Forbes Africa franchise is stopped due to apparent financial difficulties. The last issue was published in October 2017. Faced with this blockage, journalists and staff who, for some have not been paid for 14 months, decided to form a collective. In a joint missive, addressed last week to Mr. Ebata, and that Financial Afrik has procured exclusively, the injured employees speak of “a serious situation”, while also evoking a series “of possible options for to be recognized in their rights “. Already, several bailiff letters have reached the Paris headquarters…

Read More

INNOVATION RIME WITH FUTURE, BOTH MAY BE AFRICAN No week passes without some important news about the impact of technology in our lives. Such an impact is obviously not new. Many times, the pace of change has accelerated thanks major discoveries such as printing, electricity or combustion engines. Some would say that our contemporary experience of technological innovation does not significantly alter the dynamics of similar changes experienced in the past. Many, however, agree that something much bigger is going on. We grew up with negative perceptions about Africa’s development prospects. We engaged in discussions about aid effectiveness, poverty reduction,…

Read More

Amen Bank and the Islamic Insurance and Export Credit Corporation (ICIEC) have signed an agreement for an insurance policy to cover US $ 50 million confirmed bank letters of credit . This agreement was signed on April 5, 2018, by Ahmed El Karm, Chairman of the Executive Board of Amen Bank, and Osama Kaissi, Executive Director of ICIEC, on the sidelines of the annual meetings of the Islamic Development Bank Group (IDB) which were held from 1 to 5 April 2018 in Tunis. Under the terms of the agreement, ICIEC will cover up to 90% of the value of Amen…

Read More

By OSSENE OUATTARA, Yamoussoukro. After their meeting on Saturday, April 7 during which they expressed their will to take their “destiny in hand” in the face of the “problems” of their sector, the members of the National Federation of Cashew Producers of Ivory Coast ( FENAPACI) have given the cover this Saturday, April 21st. This time, they were joined in the sumptuous cinema hall of the Yamoussoukro Hotel President by buyers, exporters and industrialists (processors). These four colleges have affirmed their union through the National Association of actors of the cashew sector. Who is a permanent framework for consultation and…

Read More