Author: Editor

ACAM Vie announces the digitalization of its business processes. The main objective is simplification and transparency in the services offered to the Customer. The first results of this positioning are visible, with the availability of the digital platform of ACAM Vie. In its current version, it allows subscribers (individuals) to consult: – the information related to the specific conditions of the contracts taken out, – the amount of the premiums collected from the contracts taken out, – the amount of the redemption values of the contracts subscribed, – the amount of the outstanding premiums of the contracts subscribed. All ACAM…

The Tunisian state has just launched a call for tenders for the transfer of direct and indirect participations in the Zitouna and Zitouna Takaful banks. According to the wording of the call for tenders, the State, Al Karama Invest and the company Portfolio Invest will sell their cumulative shares of 69% in the Zitouna bank and 70% in Zitouna Takaful to a “strategic investor” who has the ability to manage. The Consortium led by Finactu International and including BDO Tunisia, Auxilium Consulting and the law firm Adly Bellagha & Associés, has been retained by Al Karama Holding as exclusive advisor…

The Amadeus Institute and the Agricultural and Rural Prospective Initiative (IPAR) are pleased that the conference organized on March 29, 2018 in Dakar, under the theme “Accession of Morocco to ECOWAS: Foundations, Challenges and Common Perspectives” was the an opportunity for a frank and serene dialogue involving the various stakeholders of Senegal and Morocco. Under the auspices of our joint initiative, controversial debates of great wealth have taken place between political leaders, consumer associations, trade unions, representatives of civil society and the private sector and Senegalese and Moroccan research centers. Indeed, exchanges have explored, without complaisance, the political, social, economic…

The first meeting of the Board of Directors of the Millennium Challenge Account-Côte d’Ivoire (MCA-Côte d’Ivoire) was held on March 29, 2018. Chaired by the Secretary General of the Presidency of the Republic, the Minister Patrick Achi, the meeting, which follows the signing in November 2017 in the United States, of the Grant Agreement of the Compact Côte d’Ivoire in the amount of $ 524,740,000, allowed to adopt measures on the implementation of the Compact Côte d’Ivoire Program. MCA-Côte d’Ivoire, established by ordinance dated December 14, 2018, is an independent entity charged with ensuring, on behalf of the Government of…

The 2018 edition of the iF DESIGN AWARD, a world-renowned design award, has just awarded the iF Award 2018 to the designer Hicham Lahlou for his project Concept “M” – metal awning of the toll station of the motorway. bypass of the city of Rabat for Motorways of Morocco in the discipline “Architecture”, category “Urban / Landscape”. The iF DESIGN AWARD is organized every year by the iF International Forum Design GmbH, based in Hannover, Germany and considered as the oldest independent design organization in the world. The “M” project concept attracted a jury of 63 members – composed of…

As part of its strategic development plan, CICA-RE is setting up in Tunisia. A major breakthrough could be the CIMA Member State Joint Reinsurance Company (CICA-RE). Jean Baptiste N.Kouamé, CEO of the company said it is a branch. This is not an accreditation in good and due form. The presence of the reinsurer of the CIMA zone in Tunis will make it possible to develop a win-win partnership for the benefit of all players in the insurance market thanks to the stable economic prospects of the sub-region. In this vein, CICA-RE intends to collaborate with market players to develop a…

New proof of OCP’s commitment to the African continent. At the occasion of the CEO Africa Forum, big mass of the leaders of African companies March 26th and 27th in Abidjan, OCP was presented with the Prix de la Stratégie de social responsibility of the year, awarded by a jury of top managers. “What OCP does goes beyond the simple social responsibility strategy. We are fully committed to the development of African agriculture. “said Karim Lotfi Senhadji, CEO of OCP Africa who received this distinction. This is the first time that this award for the best social responsibility strategy of…

Abidjan, March 29, 2018 – Compagnie Financière Africaine Group (COFINA), Africa’s leading institution for mesofinance, announces the signing of a strategic partnership with Mediterrania Capital Partners, a private equity fund dedicated to business growth in Africa. This minority stake, together with technical assistance, will enable the COFINA Group to raise up to 50 million euros in capital and debt over the next three years. Thanks to this financing, COFINA strengthens its financing capacities with its customers and accelerates its regional development, with four new installations planned in West and Central Africa by 2021. The arrival of Mediterrania Capital Partners in…

Djibouti is in talks with the French shipping company CMA CGM to develop a new container terminal at an initial cost of $ 660 million as part of the project for the development of maritime and air transport on the African continent. Aboubakar Omar Hadi, chairman of the Ports and Free Zones Authority of Djibouti (DPFZA), told Reuters on Tuesday that the authority hopes to grant the concession in July. CMA-CGM was also ready to buy out DP World’s stake in an existing container terminal to put an end to litigation with the Dubai port operator and avoid arbitration, he…

Senegal has mobilized all its energies for the development of development in order to build the future, and it is in this context that it has created the Virtual University which counts 20 thousand students of License, Masters, PhD, in artificial intelligence, according to the President of Senegal, Macky Sall. “We have created technology parks. We gave prices worth $ 440 thousand euros. At the same time, we are funding digital projects for $ 2 million. We plan to train 3,000 qualified people per year in digital. We awarded 300 scholarships in this area. We organize a 1000 person forum…

Pape Alassane Diouf is the initiator of the Salon Finance Expo. A month from the meeting of finance in Dakar, it takes stock. See you soon, a month ago, how is the Africa Finance Expo? Allow me to congratulate myself, in advance, on our partnership with Financial Afrik, and to salute, like many of your readers, the excellent work you are doing. To come back to your question, we must admit that the Africa Finance Expo looks good and augurs great benefits for the participants. We expect a thousand people if we rely on pre-registration and the excitement that the…

Coris Capital SA, a private equity fund of the Coris group, has just invested C $ 3 million (just under CFAF 1.3 billion) in the Bomboré gold mining project located 85 km east of Ouagadougou . According to the highly informed Business Letter (LLA), the investment was made through a private placement of 3.750 million shares of the Canadian mining company, Orezone Gold, which explores the Bomboré mining license whose gold deposit is considered one of the most important undeveloped West Africa. Coris Capital S.A, which had invested, in August 2017, almost the same financial envelope in the graphite mining…

Nadia Fettah, General Manager of Saham Finances, was named CEO of the year at the 6th edition of the AFRICA CEO FORUM AWARDS on Monday, March 26th. In her speech, she thanked Moulay Hafid Elalamy, Minister of Industry, Investment, Trade and Digital Economy of the Kingdom of Morocco and Raymond Farhat, CEO of Saham Finances, for their leadership and their vision. She also urged men to trust more women in business “Together we will succeed better and faster to build this Africa of which we all dream, Africa that wins, Africa champions.

Mediterrania Capital, through its MCIII fund, has acquired approximately 30% of the capital of Cofina Bank. Amount of the transaction, $ 20 million. This is an important turning point for the bank specializing in mesofinance. Through this investment, Mediterrania Capital affirms its ambitions for West and Central Africa through the MCIII fund, with 250 million euros. Founded in 2013, the Cofina Group, rated “tAA” by Wara Agency in the long term, is the first African financial institution dedicated to mesofinance, the “missing link” between microfinance and traditional banking, which offers the possibility African SMEs (90% of private companies on the…

The launching conference of the African Finance Laboratory “AfricaFinLab” was held in Abidjan at the headquarters of the BRVM under the chairmanship of Mr. Bruno KONE, Ivorian Minister of Communication, the Digital Economy and the Post Office. At the end of this conference, Dr. Edoh Kossi AMENOUNVE, Managing Director of the BRVM, has been appointed President of AfricaFinLab. AfricaFinLab is a laboratory of ideas, support and promotion of finance in Africa, serving public and private actors. Its main objective is to intervene levers, which are transforming African finance by relying, in particular on exchanges and international cooperation. AfricaFinlab also aims…

On the sidelines of the celebration of World Water Day, Thursday, March 22, the director general of Senegalese Water (SDE), Abdoul BAAL spoke with Financial AfriK. The SDE announced a coverage rate of 98% in 2017, what explains this performance? Exactly, World Water Day is an opportunity to take stock of our activities. Our goal is for everyone to have access to water. SDE has been in existence for 22 years now. At the time, when it started in 1996, the access rate was only 80%. Today, it is 98%. This means that in urban areas, almost all the population…

Magnates Place is pleased to announce the third edition of the Industry Sector Conference Luxury and Business in Sub-Saharan Africa to be held on Wednesday 13 June Geneva in the presence of an international professional audience from economic world, business and luxury industry. GLOBAL LUXURY IN AFRICA, A VERY PROMISING MARKET After the success of the two previous Parisian editions, in the presence of an informed public such Cartier, Perrier-Jouët, Bloomberg, Bucherer, LVMH, Yves Saint Laurent. This first edition of Geneva will look at both Africa Business, the sector luxury in Africa, trends in the luxury sector and HNW millenials.…

Orange Bank has launched its website in support of its mobile application and announces the establishment of consumer credit ranging from 500 to 75,000 euros, said Stephane Richard, CEO of Orange, Thursday, March 22. The website will allow Orange Bank customers to easily manage their account from a computer. It comes in support of mobile applications on Android and iOS. The online bank of the operator opens access to personal loans of 500 to 75,000 euros for periods of one to six years, reserved for its customers. It promises simplified procedures (of the order of 10 minutes) but has not…

France granted a loan of 120 million euros, or nearly 79 billion FCFA, to Côte d’Ivoire as part of the rehabilitation of the international road linking Bouaké, the big city of the Ivorian center, in Ferkessédougou, a crossroads city from the north to the hinterland countries. The loan agreement signed on March 22 is “repayable at the interest rate of 1.61%, for a period of 20 years including 5 years of deferred”, said Adama Koné, the Ivorian Minister in charge of the Economy and Finance. The project involves a 125 km section from Bouaké, the other 90 km to connect…

In a statement dated March 22, 2018, the Commission des Marchés Financiers said that it received an alert on March 20, 2018, about the activities of an entity called “ADAM E-BUSINESS SPACE” based in Yaoundé and whose In recent months, the promoter has been providing financial services to individuals through promises of very advantageous returns on the financial markets. According to preliminary information, more than 10 million CFA francs have already been collected from the public. The Financial Markets Commission wishes to inform the public that the solicitation, advertising and solicitation of funds for financial investments with a promise of…

Wärtsilä delivers the world’s largest hybrid solar power plant, reducing annual CO2 emissions by 18,500 tonnes The technology group Wärtsilä announced today that it has delivered the world’s largest hybrid solar power plant. Wärtsilä will therefore provide reliable and sustainable energy round the clock, which is essential for conducting off-grid gold mining operations and demonstrating the enormous potential for integrating renewable energies into the market. as the primary source of electricity. Wärtsilä has been selected by Total Eren SA, the world’s independent energy producer and renewable energy company, and the African Energy Management Platform (AEMP) for the construction of this…

“With the signing of the Kigali Declaration for the launch of the African Continental Free Trade Area, Africa has taken a giant step towards continental integration, the pan-African vision and the development of our continent,” he said. Vera Songwe, Executive Secretary of ECA. Speaking at the official signing of the ZLECA today in Kigali, Ms. Songwe noted that this historic moment demonstrates the determination of African leaders to bring together the diversity of the continent and materialize this flagship project of Agenda 2063. of the African Union. She thanked all UN agencies for their support and affirmed that ECA was…

Despite a difficult environment, the banking group saw its activity and earnings rebound in 2017. Equity Group Holding, the first Kenyan bank, reported strong 2017 annual results on Thursday: at 18.9 billion shillings ($ 186 million), its annual net profit is up 14 percent from the previous year (16 , 6 billion shillings), driven in particular by an increased geographic diversification of its activities and an expansion of its revenue channels (digital growth with the Equitel digital financial service). Another strength of the group, its cautious risk management: with a bad debt rate of 6.3% at the end of 2017,…

One of the key tools for monitoring the implementation of the African Continental Free Trade Area (#ZLECA) will be the country business index just unveiled at the Business Forum on the eve of the signing of the the historic agreement. The Economic Commission for Africa (ECA), through its African Trade Policy Center (ACPC), has developed this index to measure the impact of the ZLECA through the impact generated for private operators . ECA Executive Secretary Vera Songwe explains that the ZLECA Business Country Index brings together the views of business in Africa and ranks countries according to how they implement…

A strong delegation of the National Episcopal Conference of Congo (CENCO), led by its president, Monsignor Marcel Utembi, archbishop of Kisangani and his vice-president, Monsignor Fridolin Ambongo, coadjutor Archbishop of Kinshasa and next successor of Cardinal Laurent Monsengwo, is presently in Canada for a week. The mission of the Catholic Bishops of Congo to Canada will travel to Ottawa, Montreal and Toronto, primarily to advocate with government and religious authorities, the Canadian economic community and Canadian civil society committed to human rights, democracy and social justice, with a view to seeking diplomatic, technical and financial support, including Canadian expertise, to…

Elections in the DRC: Bishops of CENCO in Canada to solicit technical and financial support A strong delegation of the National Episcopal Conference of Congo (CENCO), led by its president, Monsignor Marcel Utembi, archbishop of Kisangani and his vice-president, Monsignor Fridolin Ambongo, coadjutor Archbishop of Kinshasa and next successor of Cardinal Laurent Monsengwo, is presently in Canada for a week. The mission of the Catholic Bishops of Congo to Canada will travel to Ottawa, Montreal and Toronto, primarily to advocate with government and religious authorities, the Canadian economic community and Canadian civil society committed to human rights, democracy and social…

Driven by a dynamic equity market, the manager of the Nairobi Stock Exchange recorded solid results in 2017. Nairobi Securities Exchange PLC, the company that manages the Nairobi stock market, announced Monday a net profit up 17.56%, to 216.25 million shillings (2.1 million dollars) for the year s’ ending December 31, 2017. Turnover increased by 5.57% to 757.03 million shillings ($ 7.5 million). Commenting on these results, the group’s management stated that “this performance was the result of a strengthening of the trading activity on the bond and equity markets, which rose by 1% and 17%, respectively”. The equity sub-fund…

Nicolas Sarkozy was detained as part of the investigation into suspicion of Libyan financing of his 2007 campaign. According to Reuters citing a judicial source, Nicolas Sarkozy is currently being heard in the premises of the judicial police in Nanterre on suspicion of illegal funding for his 2007 presidential campaign. This is the first time Nicolas Sarkozy has been heard about this since the opening of a judicial inquiry in April 2013. The detention of the former president could last up to 48 hours.

The West African Regional Stock Exchange (BRVM) launched the ELITE BRVM LOUNGE Program with the presentation of it first cohort of companies on Monday, March 19, 2018 in Abidjan under the chairmanship of the Ivorian Minister of Economy and Finance. The ELITE BRVM LOUNGE program has effectively entered it active phase in the West African Economic and Monetary Union (WAEMU) on Monday, March 19, 2018 for an initial period of two (2) years. The launching ceremony saw the presentation of the first set of ten (10) companies identified at the end of the selection process. The chosen companies are: AGETIP…

The SMB-Winning consortium announces its partnership with Louis Berger, a global engineering consultancy, to strengthen environmental and social impact assessments (ESIAs) that will enable it to update and revitalize its environmental and social management plan (ESMP) ). The purpose of the ESMP is to frame the work related to mining activities in the SMB permits in order to identify the additional mitigation measures needed to better manage environmental impacts and to maximize the safeguarding of biodiversity and spillover effects. beneficial for the communities. Louis Berger will also develop a plan of additional priority measures and will assist SMB-Winning in the…