Author: Editor

After having undergone a deep restructuring of Ecobank Nigeria for just under three years and successfully returned to profitability, Charles Kié would soon have left the Ecobank group. Having arrived at the head of Ecobank Nigeria in January 2016, in the midst of the economic crisis of the first economy of the African continent, the Ivorian had the difficult task of restoring the accounts of the largest subsidiary of the Ecobank group, the first international bank and the Sixth of the Nigerian market, which then had a total balance sheet of about $ 10 billion, a workforce of about 10,000…

The Arab Bank for Economic Development in Africa BADEA has granted the Central African States Development Bank (BDEAC) a funding of US $ 20 million. The signing ceremony took place on 8 July 2018 at BADEA headquarters in Khartoum-Sudan. The agreement was signed by HE Dr. Sidi Ould TAH, Director General of BADEA and HE Fortunato-OFA MBO NCHAMA, President of the Central African Development Bank (BDEAC). The agreement is part of BADEA’s program to finance Arab exports to African countries, and in accordance with its Seventh Five-Year Plan 2015-2019. The Financing Line aims at contributing to the financing of the…

Make Togolese agriculture competitive and attractive? And especially how to encourage banks and financial institutions to invest in this sector? It is to answer these problems that the government has launched the MIFA, Mechanism Incentive for Agricultural Financing. The report is clear: the agricultural sector accounts for 40% of Togolese GDP. It’s almost half. Yet agriculture is only funded at 0.3%. Why ? Because the sector is considered “risky”, especially because of climate threats that can damage or even destroy crops. MIFA then acts as a guarantee fund. The guarantor is the state itself. As the risks are shared, financial…

by Dr Daby POUYE, PhD in finance We do not win a war with the soldiers of others. It is primarily to African investors and entrepreneurs to build African financial reputation. And it is up to African states to put in place concrete measures to efficiently support this participation of African financial actors. Words and deeds are what we need to help our financial reputation.

Already active on the continent with two production units, the LG Electronics group could soon launch a new one in Tanzania. Present at the International Fair in Dar es Salaam, July 1-5, East Africa Director Moses Marji confirmed that the company is considering the installation of an assembly plant in the country. In addition to the needs of Tanzania’s growing middle class, the Korean group also sees the country as an ideal gateway to serve the entire East African Community, a single market of six countries (the Burundi, Kenya, Uganda, Rwanda, South Sudan and Tanzania) and 170 million inhabitants. Quoted…

According to the latest issue of Mauritania magazine1, the successor of President Mohamed Abdel Aziz is known. It is the general of division Mohamed Ould Ghazouani, “craftsman of the transformation and the modernization of the military institution in Mauritania”. Originally from eastern Mauritania and from a maraboutic lineage, this popular character is “known for his discretion and loyalty to the leader,” the newspaper said. If this prognosis proved, “Ould Ghazouani will be anything but a Medvedev,” she murmurs. “Mauritania will actually alternate with, it must be said, an army that watches over grain. Without erecting this probable succession in absolute…

Africa50, the pan-African infrastructure platform, will host its third General Shareholders Meeting (GSM) in Nairobi, Kenya on 19 July at Villa Rosa Kempinski Hotel. President Uhuru Kenyatta will open the meeting, which is taking place for the first time in East Africa. Henry Rotich, the Cabinet Secretary for the National Treasury in Kenya, will also attend. Akinwumi Adesina, President of the African Development Bank and Chairman of the Africa50 Board of Directors, will give a keynote address on the critical role that Africa50 is playing to bridge the continent’s infrastructure funding gap, estimated at US$108 billion annually. Africa50 CEO, Alain…

By Cheihna Bounajim Cissé. Governance ?! Everything was written or almost on this phrase “very trendy” which is flourishing everywhere. It is used by everyone and for everything as the magic ingredient; or simply as a bait to conceal the purposefully designed hook for catching small and large “fish” in the murky waters of corruption. Even those who challenge governance, not the concept but its bloat, use and abuse it in sententious statements and during licentious ceremonies. Yet governance issues need to be taken very seriously. Everywhere, especially in banking. We can not engage in it with the intention…

The French President, Emmanuel Macron, presented a bold new vision of the relationship between France and Africa, during his speech during an exclusive session organized by the Tony Elumelu Foundation in Lagos on Wednesday, July 4, 2018. He passionately advocated for a new partnership, giving priority to the role of entrepreneurship in Africa’s renaissance, highlighting the importance of the private sector and especially pointing out that the future of Africa is in the hands of Africans. I room with his style of direct communication with the audience. “To young African entrepreneurs: never listen to people who tell you to…

Guinea Bissau Carlos Lopes, 58, has just been appointed High Representative of the African Union in negotiations with the European Union post-Cotonou Agreement. The former executive secretary of the United Nations Economic Commission for Africa will have to manage relations between the African continent and its European partner. The appointment of this progressive economist, recorded during the last AU summit held on 1 and 2 July 2018 in Nouakchott, offers a unique opportunity to establish coherence between the major inter-African trade treaties (case of the ZLECA) and agreements with Europe that had previously been in competition with, or even in…

By Diary N’diaye Bâ On the sidelines of the African Union summit in Nouakchott, Senegal and Mauritania signed new agreements that give Senegalese fishermen 400 licenses to catch 50,000 tonnes of pelagic fish on the high seas. The one-year renewable agreement, signed after several postponements, aims, among other things, to stabilize the tensions that usually arise between these boatmen and Mauritanian coast guards. For their part, Mauritanians will be redistributed 10 euros for a ton of small pelagic animals caught. The landing platform originally planned for Ndiago has been brought closer to Boyo, a town located 2.5 kilometers from the…

Djibouti officially launched on July 5, 2018, Djibouti International Free Trade Zone (DIFTZ), the largest commercial area in Africa that will include a total investment of $ 3.5 billion and will cover an area of ​​4,800 hectares . The free trade zone, which already hosts 21 companies, will significantly strengthen trade in the Horn of Africa while strengthening Djibouti’s position as a trading and logistics center. The opening ceremony was held under the auspices of President Ismail Omar Guelleh, President of the Republic of Djibouti, Paul Kagame, President of the Republic of Rwanda and President of the African Union, Omar…

Jawad FASSI-FEHRI has just published the “Legal Guide to private equity in the OHADA space, OHADA law – French law”, at Lexis Nexis. While the figures of private equity in Africa for 2016 and 2017 show that this industry continues to develop and register as a real tool for financing and transfer of businesses, this book, the first concerning private equity transactions carried out in the countries of the OHADA zone, comes to “accompany” the development of this industry in the region. Indeed, this book proposes to answer exhaustively the need for “reference” of this industry, and this, thanks…

The Board of Directors of Gécamines has adopted the new organization of the company, during an extraordinary meeting held on June 25th. This plan of transformation of the company which had been announced on June 14 by Mr. Albert Yuma-Mulimbi, President of the Board of Directors of Gécamines, officially started this Tuesday, auguring beautiful prospects for Gécamines. This includes the mining operator’s return to growth and profits, while preserving its values and the expression of its social responsibility. This reform is based on two main principles: – The organization chart is centered around a decentralized management, based on the establishment…

After having undergone a deep restructuring of Ecobank Nigeria for just under three years and successfully returned to profitability, Charles Kié would soon have left the Ecobank group. Having arrived at the head of Ecobank Nigeria in January 2016, in the midst of the economic crisis of the first economy of the African continent, the Ivorian had the difficult task of restoring the accounts of the largest subsidiary of the Ecobank group, the first international bank and the Sixth of the Nigerian market, which then had a total balance sheet of about $ 10 billion, a workforce of about 10,000…

Despite many difficulties, the forecasts of the World Bank and the International Monetary Fund are optimistic. As Hery Rajaonarimampianina’s term comes to an end, the next election may, however, create instability again. By Cathy Naidoo, Johannesburg Mixed. This is how one could describe the Malagasy economic situation. GDP growth reached 4.3 percent in 2017, a rate that remains “insufficient to meet Madagascar’s health and education needs,” as Jeune Afrique notes. Eight out of ten people live in conditions of extreme poverty and one in two children suffer from malnutrition in a country that, “despite all its natural resources, is still…

For two days, July 4 and 5, 2018, the Regional Stock Exchange of the West African Economic and Monetary Union “moves” to Dakar as part of its promotional operations. The operation began this Tuesday at the African Institute of Management (IAM), one of the very first in French-speaking Africa, with a trading room in partnership with the BRVM. The theme of today’s conference focused on “the role of the stock market in Africa’s development”, in a context, recalls Abdoulaye Guirassy, ​​president of the IAM, “of declining public revenues of most African states “Can be declined from two angles:” financialization of…

Present on the African continent for more than 85 years, the Tractafric distribution group knows the requirements. That’s why he chose to partner with the Mercedes-Benz manufacturer, which he distributes on nearly half of the continent (22 countries including all Central and West Africa and part of English-speaking Africa) , to offer professionals vehicles adapted to the road conditions of African countries. Today, with the brand new range of Mercedes-Benz trucks being launched, the distributor is taking another step forward, with transport solutions that are always better adjusted to serve its customers. The brand new Actros, Arocs: two power…

For several decades, the bosses of the Gabonese public administrations were equipped with luxury vehicles of the 4X4 types whose value could exceed 50 million F CFA. But in order to reduce its lifestyle, the Gabonese State has decided to ban, since June 29, 2018, the acquisition of administrative vehicles of more than 30 million. This measure concerns both the central administration and the other decentralized public services. The well organized industry, with the complicity of local car dealerships, allowed some senior government officials to benefit from vehicles they would never have acquired while working in the private sector. Thus,…

Giant raw materials often accused of collusion with African diets, Glencore is today in the sights of Uncle Sam. In a statement released on Tuesday, the Zug group (Switzerland) announced that it has been summoned by the US Department of Justice in a corruption investigation into its activities in Nigeria, the Democratic Republic of Congo (DRC) and the United States.

The London-based independent oil and gas company Panoro Energy SA and its partner BW have announced the successful drilling of the DTM-3H well, located on the Turtle oil field. Well drilling began in May and the work proceeded smoothly, on time and within budget. From an official source, the well was fully in line with the prognosis and pre-drilling objectives. The DTM-3H well is horizontal in the Gamba reservoir, oil capital, and comes in a long section of oil-saturated sandstone, according to a Panoro statement that did not specify the size. The next step will be the Northeast Hive Drilling…

Coris Bank International Togo knows a new general manager since July 2 in the person of Alassane Kaboré. Until then director of risks at Coris Bank Mali, where he has distinguished himself by the excellence of the results achieved and the control of the ratios related to the measurement of the risk, Alassane Kaboré replaces Sanou Seydou called to other functions within Holding of the group. Mr. Sanou has been in charge of the Togo branch since it opened in January 2015. Coris Bank International Togo currently covers Lomé through a network of four (4) agencies namely the Principale agency,…

The Africa -China Economic Forum & Exhibition which opens on Tuesday in Djibouti devotes the inevitable rise of the Middle Kingdom in the Gulf of Aden. The theme of this forum, “defense and security in Africa” ​​bother Paris and Washington. The African anchor of the imperial strategy of the Silk Road, Djibouti is home to French and American bases and, recently, the first Chinese base outside China. The Chinese choice results from what some have called the “checkbook diplomacy” put forward by China to impose its supremacy on the Bab-el-Mandeb Strait, through which almost all the commercial traffic between Asia…

The first collective management company approved in Senegal, the Compagnie Générale de Finance et de Gestion (CGF Gestion) has just set up an innovative retirement savings product in partnership with the Senegal Business Council (CDES). Kalidou Dialllo, CEO of CGF Gestion, explains its scope and, beyond, answers Financial Afrik’s questions about savings and retirement in the WAEMU zone. CGF Gestion has just signed with the Senegal Business Council – CDES, the regulations for their Retirement Savings Plan. Can you come back to this collective savings scheme and present the conditions and benefits to our readers? Since its creation, the objective…

The Gabonese Reinsurance Company (SCG-Ré) ended 2017 on a positive note, with a net result of 1.2 billion CFA francs, an increase of 112% compared to 2016. According to the company’s statements released between May and June at its board of directors and its general meeting, the turnover amounts to 12.265 billion CFA francs at the end of the year, compared with 11.3 billion in 2016. Its technical result, meanwhile, is up 26% over the previous year, to reach 3.6 billion. In addition, the company headed by Andrew Crepin Gwodog has unlocked $ 4 billion for the settlement of claims,…

A positive assessment for Burkina Faso: the structural transformation of the economy, the development of human capital and the reform of the State are underway! The President of the Republic of Burkina Faso, Marc Roch Christian Kaboré, who was democratically elected in November 2015 and inaugurated the following month, has assessed the results of his government after two and a half years of his five-year term at the head of the country. President Kaboré was able to impose a policy that broke with the old regime by developing a new societal project that aims to establish a rule of…

A great tribute was paid Friday, June 29 to Jacques R. Saadé in Marseille. The founder of the CMA-CGM group, who died Sunday, June 24, 2018 at the age of 81, had the honors of France represented by the Minister of Foreign Affairs Jean-Yves Le Drian. Leading personalities from the shipping world and many politicians have joined the Group’s 30,000 employees in 160 countries for a moment of silence. The fog horns of all the boats present in the ports of France and all the CMA CGM ships in the world sounded a last salute to those who built their…

By Mamadou Ismail Konaté * and Bakary Diallo *, Attorneys to the Court Everyone knows that in Africa, the heart of the disintegration of the public spirit is at the top of the state and in its wheels. Poor governance and impunity are characterized by the non-respect of the rule of law and the violation of the law and the rules. The unilateral modification of pre-existing norms by rulers with the aim of satisfying their personal and selfish interests is not surprising. On the contrary, this way of doing things is rather usual. That is why when in 2010, for…

At the end of the stay in Gabon of a mission of the International Monetary Fund (IMF) from June 13 to 25 and led by Alex Segura Ubiergo, promising prospects in terms of economic growth and diversification of the economy did not prevent that point out the weakness of the reforms initiated by the government. According to the members of the IMF mission, “Gabon’s economic growth should recover in 2018, reaching 2% against 0.5% in 2017”. “Inflation stood at a modest 2.7% and oil exports and new mining capacity helped reduce the current account deficit in 2017,” the mission report…

The African Development Bank ranks fourth among the best companies to work for on the continent, according to the 2018 survey Employers of choice for Africa. Of the top 100 companies, the top four are held by the World Bank Group, Chevron, Exxon Mobil and the African Development Bank. More than 20,000 African professionals responded to the survey questions on employee motivation and working conditions. The opportunity to learn new skills, the quality of health care delivery, the leadership dimension and the prospects for change are key indicators for the best employers. “The importance of having a positive impact is…