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The Board of Directors of the African Development Bank Group approved on Friday, July 20, 2018, a € 20 million equity investment in the Maghreb Investment Fund Private Equity Fund IV (MPEF IV), AfricInvest. This equity investment will help accelerate the development of mid-cap companies in North Africa with strong growth potential in the region and in sub-Saharan Africa. The objective of the MPEF IV Fund is to achieve a capitalization of 200 million euros and finance the growth of about fifteen companies with strong local presence. Investments will range between 8 and 25 million euros and are expected to…

Kenyan President Uhuru Kenyatta announced on July 18, 2018 in Nairobi that his country would double its stake in Africa Africa’s pan-African infrastructure investment platform, bringing its current investment to $ 100 million. “Kenya will double its investment in Africa50 to $ 100 million. We believe this investment is warranted, “said Kenyatta on the sidelines of the third general meeting of shareholders. The Africa 50 fund plans to develop a 300-kilometer high-voltage transmission line construction project in western Kenya. He launched an urgent appeal for the development and financing of bankable infrastructure projects to boost Africa’s growth. “The private sector…

The African Trade Policy Centre of the Economic Commission for Africa (ECA), the African Development Bank (AfDB), the United Nations Conference for Trade and Development (UNCTAD) and the African Union Commission (AUC) are holding a series of consultative meetings in Nairobi, Kenya to initiate research on the 9th edition of the Assessing Regional Integration in Africa (ARIA9). This particular edition will prepare analytical work to inform the AfCFTA Phase II negotiations. The ARIA 9 report will address the three topics of the AfCFTA Phase II negotiations: a) Competition policy, b) Investment; c) Intellectual property rights; and additionally look at the case for d) Digital trade and e-commerce. During the meetings, there will be presentations of case studies including on the experiences of the RECs across each of these themes which will…

On Thursday, July 19, 2018, Kenyan President Uhuru Kenyatta launched an urgent appeal for the development and financing of bankable infrastructure projects to support Africa’s development agenda. This was at the Africa50 General Shareholders’ Meeting held in the Kenyan capital, Nairobi. In his opening remarks, President Kenyatta emphasized how the energy, transport, ICT, water and sanitation sectors offer investment opportunities to the private sector. “The private sector needs to redouble its efforts and help us bridge Africa’s infrastructure gap. Public funding is limited and there are other competing priorities, “he said. Uhuru Kenyatta announced that Kenya would double its current…

In the grip of financial difficulties for some years and under the permanent threat of seizure, Mohamed Alami Lazrak has fallen below the 50% stake of the company Alliances Développement Immobilier (ADI).

Akinwumi Adesina, the president of the African Development Bank, is making an official visit to Kenya from 19 to 21 July 2018, aimed at strengthening cooperation with the Kenyan government and attracting more private funds. During his stay in the country, the President of the Bank will meet with the Head of State Uhuru Kenyatta and will take part in a bilateral meeting with the Vice President, William Ruto. President Adesina will also meet the Secretaries of State in charge of Agriculture and Irrigation respectively; Transport and Infrastructure, Housing and Urban Development; Energy ; Water and Sanitation; Industrialization and Business…

The Director-General of African Risk Capacity, Mohamed Beavogui and Mr. Moulaye CAMARA – Managing Director of Operations, AIMS-NEI Global Network, at the Inception Meeting between African Risk Capacity (ARC) and African Institute for Mathematical Sciences (AIMS) at the ARC Agency Offices in Johannesburg, Republic of South Africa. “The intention of the African Union in establishing the African Risk Capacity is to protect its vulnerable population from the costly impacts of natural disaster risks. In addition to pooling financial resources, this requires scientific research and innovation to work. Our partnership with the African Institute for Mathematical Sciences connects us with the…

The European Union (EU) welcomed Friday, in a statement, the partnership described as win-win signed in the field of fisheries in a transparent and public regulatory framework, with Gabon. This fisheries agreement, which has been in force since 2006, is implemented by triennial protocols specifying the tonnages of catches authorized by tuna vessels, as well as the financial compensation paid by the EU on public funds to Gabon and by the private owners of vessels. This amounted to 9.7 million euros for the last protocol (2013-2016) (6.363 billion FCFA). Since the expiry of the last protocol in 2016, negotiations for…

The Board of Directors of Ecobank Transnational Incorporated (ETI) announces the appointment of Patrick Akinwuntan as Managing Director and Regional Director Designate of Ecobank Nigeria, subject to applicable regulatory approvals. Prior to this appointment, Patrick was Group Executive, Consumer Banking responsible for managing the consumer bank through Ecobank’s global network of 40 countries, including 36 in Africa. An experienced banker with more than 20 years of executive and senior management experience, Patrick has held several strategic positions within the Ecobank Group in Ghana, Togo and Nigeria. Prior to that, he was Executive Director of the Group on the ETI Board…

President Uhuru Kenyatta of Kenya announced yesterday in Nairobi, that his country would double its shareholding in pan-African infrastructure investment platform Africa50, increasing its current investment to US$100 million. Speaking during his keynote address at Africa50’s Third General Shareholders Meeting, he expressed his strong support for Africa50’s mission. “Kenya will double its investment in Africa50 to $100 million. We believe that this investment is justified,” he said, noting that Africa50 plans to develop a project involving the construction of 300 kilometers high voltage power transmission lines in Western Kenya that would accelerate socioeconomic development in that region. He made an urgent…

The packaging leader in French-speaking Africa, headquartered in Abidjan, remains rated A by WARA. The perspective remains stable. West Africa Rating Agency (WARA) reaffirms Filtisac SA’s rating. On the regional scale of WARA, Filtisac’s long-term rating remains at “A”, in investment grade, and its short-term rating remains “w-3”. Filtisac is the packaging leader in French-speaking Africa. The perspective attached to these ratings remains stable. At the same time, on its international scale, WARA also affirms Filtisac’s rating at iBB- / Stable / iw-5. Ivory Coast company FILTISAC SA (Spinning, Weaving, Bags, Ivory Coast S.A.) is an industrial company specialized in…

By Antoine Lawson In the wake of the austerity measures taken to reduce the lifestyle of the Gabonese state, Budget Minister Jean Fidèle Otandault announced at a press briefing that a 3% tax will be levied on money transfers abroad, in addition to the existing one. From single to double! Since 2008, a tax of 1.5% on money transfers abroad, is levied for the benefit of the National Fund for health insurance and social security (CNAMGS). The law dated December 17, 2008 stipulates that “the tax on remittances applies to remote transfer operations carried out in Gabon abroad and carried…

The recent GSMA Mobile Connectivity Index highlights that 4 billion people are still offline. Frequency policy decisions remain a major barrier to digital inclusion. According to a new report entitled “Spectrum Pricing in Developing Countries”, released today by the GSMA at the Mobile 360 ​​- Africa conference in Kigali, it is imperative to introduce better spectrum pricing policies. in developing countries to improve the economic and social well-being of billions of people who are still not connected to mobile broadband services. The study reveals that frequency tariffs in developing countries are on average three times higher than in developed countries,…

Doubling the rate of electrification in rural areas Provide reliable access to electricity for 25% of the population Abidjan, Côte d’Ivoire, July 18, 2018 – The Board of Directors of the African Development Bank Group approved, on July 18, 2018 in Abidjan, an 18 million euro financing from the African Development Fund (ADF). ) in favor of Burkina Faso. This budget support will finance the Energy Sector Reform Support Program (PARSE), whose main goal is to create the conditions for inclusive access to energy in the country, through Establishment of a legal and institutional framework conducive to public and private…

Casablanca, Wednesday, July 18, 2018. The BCP Group has just obtained for all its subsidiaries affiliated to the Capital Markets Bank (BMC) the ISO 9001 V 2015 certification, the most recent version meeting international standards in the field. field of quality management. This certification devotes, indeed, the quality management systems of the four specialized subsidiaries of the BMC, namely:  UPLINE SECURITIES, brokerage company;  UPLINE CAPITAL MANAGEMENT, an asset management company;  ICF AL WASSIT, a company specialized in the online stock market;  MEDIAFINANCE, a bank dedicated to securities services. Thanks to this recognition, the BCP Group becomes…

Paris, July 18, 2018 – The African Solidarity Fund (FSA) and Bpifrance sign a Partnership Agreement to promote the development of FSA activities for the private sector and the commercial public sector in the 14 African member countries that are Benin , Burkina Faso, Burundi, Central African Republic, Côte d’Ivoire, Gabon, Guinea Bissau, Mali, Mauritius, Niger, Rwanda, Senegal, Chad and Togo. This partnership agreement, signed by Mr. Ahmadou Abdoulaye DIALLO, Director General of FSA and Pascal LAGARDE, Executive Director in charge of International, Strategy, Studies and Development of Bpifrance, aims to develop collaboration between the two institutions . It provides…

By Adama Gaye It is never by chance that the Chinese President, now considered the most powerful man in the world *, leaves his country. That gives all the meaning of the stay, the antipodes, that Xi Jinping, carries out, from this weekend, on the African continent. Does it come to walk in the footsteps, or flowerbeds, of its predecessors who have already done the safari, reaffirming the dogmas and paradigms that have irrigated the Sino-African relationship since, in particular, the introduction, in 1949, of the People’s Republic of China (PRC) following the triumph of the Maoist Communists against Chiang-kai…

H.E. President Paul Kagame will host the leaders of Mozambique, China, and India for successive State Visits between 19-24 July 2018. H.E. Filipe Jacinto Nyusi, President of the Republic of Mozambique, will arrive in Rwanda today 19 July, for a three-day State Visit. H.E. Xi Jinping, President of the People’s Republic of China, will be in Rwanda from 22-23 July. This marks the first visit by a Chinese leader to Rwanda. H.E. Narendra Modi, Prime Minister of the Republic of India, will visit from 23-24 July. This is also the first visit to Rwanda by an Indian Prime Minister. These…

The announcement was made in the presence of Kasangwa Chanthal, Executive Director – Operations Department, Central Bank of Rwanda, and other dignitaries, partners and guests UAE Exchange, a leading global money transfer, foreign exchange and payment solutions brand, announced the rebranding of its Rwanda operations as “Unimoni”(www.Unimoni.com). The announcement was made in the presence of Kasangwa Chanthal, Executive Director  – Operations Department, Central Bank of Rwanda, and other dignitaries, partners and guests. Short for ‘Universal Money’, the new brand “Unimoni” reflects the company’s aspirations to strengthen its global presence and provide a broader spectrum of innovative financial services to its customers.…

The Ministry of Mines and Hydrocarbons of Equatorial Guinea on Tuesday, July 17, 2018, enjoined all oil operators present on its soil, including but not limited to Noble Energy, Exxon Mobil, Kosmos Energy, Trident, Marathon Oil Corporation, to cancel all contracts with CHC Helicopters based in Canada due to non-compliance with local content regulations. It is the responsibility of the Ministry of Mines and Hydrocarbons to ensure strict compliance with the local content regulation of our country’s hydrocarbons law, “said Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons. hydrocarbons. “These laws are in place to protect and promote local…

A very first since the adoption of the Regulation number 0003 / CIMA / PCMA / PCE / 2012 of 05 April 2012 organizing microinsurance operations in the Member States of CIMA *. Six years after the entry into force of this scheme, Yelen Assurance of Burkina opens the way by becoming the first microinsurance company approved by the CRCA. Indeed, it is Monday, July 16 that this company received sesame, hands down. The consulting department of Ifage SA accompanied Joel Bamogo, CEO of Yelen, in the creation of the company, the study of its accreditation file and its defense…

The operator Safaricom would be in advanced talks with the Ethiopian government to introduce into the country its popular mobile money service, M-Pesa, it was learned on Tuesday. The information, not confirmed for the time by the management of the Kenyan company, was unveiled in the day by the Reuters news agency, which quotes in support two anonymous sources close to the case. Specifically, the British Vodafone, the parent company of Safaricom, should allow the use of the trade name M-Pesa by an Ethiopian bank (which has not been specified) while the service would be provided by the Ethiopian telecommunications…

Coris Holding and Afriland First Group sign a framework cooperation agreement opening up new prospects in Middle Africa. The signature took place on Saturday 14 July 2018. Through this framework cooperation agreement, Coris Holding and Afriland First Group undertake to pool their efforts to finance the economies of the countries of their presence through SMEs / SMIs. The two banks complement each other geographically on UEMOA and CEMAC and are similar in the respective personalities of their two founders. Both Paul Fokam and Idrissa Nassa have beaten their institutions stone by stone over the last 20 years, providing them with…

African economies will grow by 4.1 percent in 2018, according to the 2018 Africa Trade Report: Stimulating Intra-African Trade: Implications of the African Continental Free Trade Agreement, launched by the African Export-Import Bank (Afreximbank) on 11 July. The report was announced by South African President Cyril Ramaphosa, Amb. Albert M Muchanga, Commissioner for Trade and Industry of the African Union Commission, and Dr. Benedict Oramah, President of Afreximbank, at the Annual General Meetings and the celebration of the 25th anniversary of Afreximbank in Abuja. According to the report, the implementation of the African Continental Free Trade Area (AfCFTA) will create…

The African Export-Import Bank (Afreximbank) has signed an agreement under which the African Development Bank will grant a $ 500,000 grant from its African Private Sector Support Fund (APAF) to support the new factoring companies in Africa. The agreement, signed at Annual General Meetings and the celebration of Afreximbank’s 25th anniversary in Abuja on July 13, aims to increase the capacity and skills of up to 20 new factoring companies and provide consulting services. to improve the viability of established growth-oriented factoring companies, regulators, financial institutions and trade associations in Africa. Kanayo Awani, Director General, Intra-African Trade, signed on behalf…

The Annual General Meetings and the celebration of the 25th Anniversary of the African Export Import Bank (Afreximbank) ended yesterday in Abuja with a speech by Nigerian President Muhammadu Buhari who affirmed that the Bank, thanks to its dynamism and determination had proved that Africans could unite to create something constructive. In his speech at the closing ceremony, President Buhari emphasized that these qualities have enabled the Bank to achieve the success it has enjoyed since its creation 25 years ago. Dr. Benedict Oramah, President of Afreximbank, explained to participants that “since January 2016, thirteen African countries have become Member…

The Director-General of SCG-Ré, Dr. Andrew GWODOG, took part in the Combined General Meeting of Fegasa (Gabonese Federation of Insurance Companies) held on July 13, 2018, for the purpose of deliberating on the one hand, on an extraordinary basis, on the adoption of the new statutes and on the other hand, on an ordinary basis, on the following agenda: 1- Election of the new President and the Office Director; 2- Adoption of the 2017 accounts and adoption of the 2018 budget; 3- Release of the Amiable Statement; 4- Reflection of the Pool TV; 5- Automobile Guarantee Fund; 6- Rose card;…

The departure of Shell Gabon and some companies in the para-oil sector of Port-Gentil, did not undermine the will of the American company Vaalco to continue its investments in Gabon. Vaalco SA Deputy General Manager Clotaire Kondja said in an exchange with the journalists that “there will be no question of dismissing our employees or putting the key under the mat but rather redoubling our efforts and ingenuity to reach the end of our commitments with the Gabonese State “. It was during 2014 that the management of Vaalco SA promised to support the Gabonese state in the oil exploration.…

The Gabonese authorities have just launched discussions with international partners for the establishment, once again, of a national airline company. Although since the liquidation of Air Gabon in 2005, all attempts of this kind have failed. Based in Jeddah, the Saudi group Nexus Aero International looks set to do business with Gabon. A delegation led by its president and CEO was received, Friday, July 13 in Libreville, by the Minister of Transport and Logistics of the country. At the end of the negotiations, Libreville wants to have a new airline, after the liquidation in 2005, of the former Air Gabon.…

Worried by the rise of protectionist tensions, investors shunned this week the South African coast, struggling to regain its previous highs At the Johannesburg Stock Exchange, the days are similar and alike: by yielding Friday 0.85% to 56341.14 points, the FTSE / JSE Africa All Share Index has aligned its fourth consecutive session of decline. And over the week as a whole, the main South African stock index dropped 1.66% as investors worried about the ongoing trade battle between the United States and its international partners. Elsewhere, however, most other major financial markets ended with a positive weekly performance (+0.90…