Author: Editor

For depositors of the Congolese Bank, in liquidation since 2011, it is the end of the ordeal: from Thursday, May 17, the Central Bank of Congo (BCC) will begin repayment of their assets. The operation will be executed through two major banks of the Congolese financial center, the Raw Bank and the Commercial Bank of Congo (BCDC) and will initially concern 2708 depositors – 95% of clients of the Congolese Bank ( BC) – who will be reimbursed for all their assets. The announcement was made late last week by the governor of the BCC, Deogratias Mutombo, who delivered this…

This Tuesday, May 08, 2018, was held a meeting in Dakar during which Mr. Ibrahim KOUROUMA General Manager of the company RCG WEST AFRICA and Mr. Fabrice PIOFRET President of the company VEILLEUR DES MEDIAS have signed a distribution agreement, for the launch of a new media watch service, offered to companies and institutions in Senegal. Media monitoring is a service that consists of gathering, analyzing and making available to companies, all press, web and social media related to them, through solutions designed quickly to meet their needs. This media monitoring service will allow the RCG WEST AFRICA agency to…

The Senegal Business Council (CDES) and the Compagnie Générale de Finance et de Gestion (CGF Gestion) have agreed to set up a collective savings scheme, through a Retirement Savings Plan, for the benefit of employees, managers and associates. companies members of the employers’ organization. The official signing ceremony for the “PER-CDES” regulation took place on May 15, 2018, at 11:30 am, at the offices of CGF Bourse, in the presence of Mr. Babacar DIAGNE, President of CDES, Mr. Kalidou DIALLO, CEO of CGF Gestion, Marie Odile SENE KANTOUSSAN, CEO of CGF Bourse (photo) and several members of the executive boards…

African and European traveltech startups merge to become frontier markets leader  Senegalese Teranga Solutions has merged with HotelOnline to create a traveltech industry leader in the global frontier markets. The companies individually had systems and business models that were complimentary and together they now have a cloud-based ecosystem platform for independent hotels – the first of its kind, making HotelOnline a global leader in frontier markets. Moustapha Ndoye and his brother Alioune Ndoye returned to their native Dakar, Senegal right after college in the US to launch Teranga Solutions. They quickly became a market leader, recognized in 2013 by Demo…

On the occasion of the Annual Forum of Sovereign Funds of the member countries of the Islamic Development Bank, the Gabonese Strategic Investment Fund (FGIS) and the Eranove Group launch in Gabon the companies ASOKH ENERGY and LOUETSI HYDRO which will carry the hydroelectric projects respectively Ngoulmendjim and Dibwangui. This marks a new milestone, following the signature on 21 October 2016 between the Gabonese Republic and the FGIS / Eranove consortium of two concession agreements for the design, financing, construction and operation of these hydroelectric plants. The Ngoulmendjim (ASOKH ENERGY) and Dibwangui (LOUETSI HYDRO) hydropower plants will contribute to meeting…

For its first ever engagement in Africa, The Rise Fund is managing $ 47.5 million for Cellulant, Africa’s leading provider of online payments. The Rise Fund, a global investment fund committed to achieving social and environmental results, managed by TPG Growth, is making its debut on the continent and is investing in an online payments provider, which is transforming technology financing services across the globe. ‘Sub-Saharan Africa The Rise Fund, a global investment fund managed by TPG Growth, an equity investment platform, announced today the signing of an agreement to acquire a stake in Cellulant, a leading payments provider online,…

The first Moroccan hotelier has succeeded. Abdelatif Kabbaj remains a strong candidate for the presidency of the National Confederation of Tourism (CNT). Accompanied by Hamid Bentahar, boss of the Sofitel, the founder of the Kenzi channel is the real winner of the extraordinary general assembly of the interprofession held in Marrakech on May 11th. The members joined Kabbaj by voting against the integration of the CNT into the CGEM (General Confederation of Moroccan Employers) at a rate of 99%. The binomial Kabbaj -Bentahar will unsurprisingly be elected at an elective AGO scheduled for 12 June. If he succeeds in…

In partnership with the CAVIE (African Center for Business Intelligence and Intelligence), the ESG MBA is launching the “MBA Economic Intelligence and Financial Markets”. It trains professionals in the monitoring, investigation, processing, dissemination, security, influence, and production of economic and financial intelligence useful to decision-makers active in Africa. With CAVIE President, Guy Gweth, Founder of Knowdys Consulting Group and Head of Doing Business in Africa at Centrale Supelec, this MBA appeals to experts specialized in African issues such as the Malian banker Cheickna Bounajim Cissé, Chairman of the Banking & Competitiveness Commission of CAVIE. This innovative MBA is tailored to…

Africa Convergence announces its third edition in Dakar on 21 and 22 June 2018 under the theme “Attractiveness, Transformation & Emergence: the winning trio of strategic execution” The Tribune Afrique, the Panafrican economic media fruit of a joint venture between La Tribune France and the Guépard group (Morocco), is organizing its major annual event dedicated to the continent, the Africa Convergence (www.africaconvergence) on June 21st and 22nd in Dakar. .com). After the success of its second edition held in Casablanca on September 29, 2017, with the exceptional participation of 30 international speakers including Dr. Mo Ibrahim, Melissa Fleming, Ismail Ahmed,…

The National Order of Chartered Accountants and Chartered Accountants of Senegal (ONECCA) organized, on May 8, 2018, the official ceremony of launching the second Regional Congress of Accountants of UEMOA. This ceremony will be an opportunity to present the objectives, themes and various commercial proposals related to the Congress. It will also aim to launch the communication campaign of the event and officially inform the press and partners. Organized by ONECCA in collaboration with the Permanent Council of the Accounting Profession (CPPC), the second Regional Congress of Accountants of UEMOA will bring together more than 500 participants (Experts-Accountants and Professionals…

After the process of obtaining TSA certification in December 2017 with the support of Ethiopian Airlines, the Ivorian government has just announced the signing of a protocol for opening and operating Abidjan Airlines – New York which was initialed between the two parties. This agreement will allow the flight of the first inaugural flight Abidjan – New York non-stop on Saturday, May 12 to come. With three weekly flights Abidjan-New York, this line will, according to Ivorian officials to develop the economic partnership between Côte d’Ivoire and the United States but also to fructify commercial exchanges between the two…

The contest for the most beautiful and brightest girls in ICT was won yesterday in Kigali by Miss Salissou Hassan Latifa, 23, Niger crowned Miss Geek Africa 2018, with a prize of 3 million Frw (US $ 3500). She was seconded by Ndiaye Fatou Mboup of Senegal who obtained a check for 2 million Rwf, followed in 3rd place by Christella Mazimpaka of Rwanda rewarded with a million Frw. Salissou Latifa, a Bachelor student at the Ecole Supérieure des Télécommunications in Niamey, is recognized Miss Geek Africa for creating an application that reduces the response time of the emergency services…

Back to the starting square. Mohamed Ramsés Arroub is again the CEO of Wafa Assurance. The decision was taken at the end of the Board meeting just held today. Former CEO Ali Harraj is eligible to retire. Already co-opted in April as an administration by the general assembly, Ramses Arroub returns to him at the head of a company he led from 2007 to 2014, date of his resignation surprise for “personal reasons.” Since then, two CEOs have succeeded at the head of the Attijariwafa Bank Group subsidiary. The return of Mr. Arroub should according to indiscretions relaunch an…

Patrichi Christian Tanasa, who was appointed by President of the Republic Ali Bongo Ondimba to head Gabon Oil Company (GOC) on April 12, has just taken up residence there. Prior to running this company, he was special adviser to the Head of State for 25 days during which he was in charge of the Industries, Mines and Hydrocarbons Division. He replaces Arnaud Calixte Engandji Alandji in office since November 2015 and appointed to the government, on May 4, 2018, as Minister of Labor, Employment and Youth, in charge of vocational training. Mr. Engandji Alendji was the Secretary General of the…

Meeting on Tuesday, May 08, 2018 in Abidjan, Ivory Coast, the Board of Directors of African Guarantee Fund West Africa, announced the finalization of the process of integration of the Guarantee Fund for Private Investments in West Africa ( Gari Fund) by African Guarantee Fund (AGF) and therefore the name change of the Gari Fund, which became “African Guarantee Fund West Africa”. One of the main strategic focuses of African Guarantee Fund (AGF) is to decentralize its activities in order to get closer to its partners (banks and financial institutions) for a better management of the risks that it has…

By Diary N’diaye Bâ A boycott campaign has been launched on social networks (Facebook, Wathsap …) in recent days aimed at the largest Mauritanian telephone operator, Mauritel, a subsidiary of the giant Morocco Telecom, holder of 51% stake. “Khallouha tfaless” (let it go bankrupt) is the motto of the boycott campaign launched by the operator’s customers to denounce the quality of service and rates deemed high. Indeed, to justify this approach, bloggers evoke, the poor services of the operator charged at high prices. The price of one minute of communication at the national level is very high compared to the…

The Banque Centrale Populaire (BCP) Group and the African Development Bank Group (ADB) signed a $ 100 million Risk Participation Agreement (APR) on Tuesday, May 8, 2018. “This risk sharing program, which is a first in the Moroccan banking sector, would allow the realization of a transaction volume estimated at 700 million USD for three years,” said the BCP in a statement. Through this partnership, BCP and AfDB are joining forces to boost intra-African trade in key sectors, such as industry, agri-food, health and services. This agreement meets the growing needs for trade finance between Moroccan operators and companies on…

In her remarks at the opening of the African Water Week in Addis Ababa, May 7, 2018, Vera Songwe, Executive Secretary of the Economic Commission for Africa (ECA), deplores the mismanagement of resources in Africa. water that affects lives across the continent. “Today, more than 300 million people do not have access to clean drinking water and many women and children spend long hours searching for water points and are denied the opportunity to out of extreme poverty, “says Ms. Songwe. “Access to clean, safe drinking water is a human right, a fundamental basic need that must be available for…

The ship Cherry Blossom has just left the territorial waters of South Africa. Seized on May 1 following a request for seizure with the seal of the separatist movement Polisario, the ship that was carrying a cargo of the Office Cherifien des Phosphates (OCP) was at the center of a legal imbroglio combining politics and diplomacy. Today and after unsuccessful attempts to sell the cargo, the refusal of all potential buyers to acquire the goods is clear and irrefutable evidence of the illegitimacy of the property granted by the Port Elizabeth District Court. to the polisario “says Otmane Bennani-Smires, Executive…

Gauteng Province, South Africa, endorses the 2018 edition of the Africa Investment Forum (AIF) of the African Development Bank, calling it a global initiative that is the only way to transform the development landscape of Africa. continent. From November 7 to 9, 2018, Gauteng Province will host this Africa Investment Forum, the first of its kind, at its Sandton Convention Center in Johannesburg. “The Africa Investment Forum investing in Africa is more than just a forum,” said host province prime minister David Makhura after meeting with the president of the African Investment Bank. development, Akinwumi Adesina, Johannesburg. We Africans are…

Togo mobilized, Friday, May 4, a total amount of 24.7 billion CFA francs, against 20 billion solicited through an issue by auction of treasury bills, a coverage rate of 123.7%. According to the results of the transaction published by Umoa-Titres, the issuer retained an amount of 22 billion. With an interest rate of 6.75% and a unit nominal value of one million, this issue aims to “insure the coverage of the financing needs of the state budget.” The last issue of the treasure of Togo dates back to April 20, 2018, when its similar bonds were subscribed at a rate…

By Christian Kazumba, Director General AdKontact Mali and Burkina Faso The penetration rate of insurance (life and non-life) can be estimated at 1% of GDP in Francophone Africa (“CIMA” zone) and does not compare with the performance recorded in Morocco (around 3%) in France ( more than 9%) or in South Africa (more than 15%). It is the life branch (that is, the insurance of persons and not of property) which lags behind the most, since it represents in this region of the world only 25% of global business of the sector. Thus, in Mali, it is less than 0.12%…

Forty-eight hours after having submitted his resignation to the President of the Republic, Prime Minister Emmanuel Issoze Ngondet was re-elected in the afternoon of Thursday. The head of the government thus prolongs his stay at the Primature and will supervise a ministerial team in charge of preparing the legislative elections. The government, which did not respect the deadlines for unspecified reasons, had to resign after the Constitutional Court had decided to put an end to the powers of the current legislature. Mr. Issoze Ngondet should quickly form a so-called transition government with a more cohesive team and the old framework…

The 6 Bank Of Africa subsidiaries in the UEMOA Zone posted rather mixed results in 2017. This emerges from the brief presentations of the activity presented to the press on 20 April. BOA Benin accuses foreign exchange losses BOA Benin is getting closer to a total balance sheet of 1,000 billion FCFA. At December 31, 2018, BOA’s largest subsidiary by size had assets of 974.5 billion, up 7%. The bank’s net banking income rose 0.7% to 39.6 billion FCFA. As for the net result, it shows a decline of 8.2% to 14.8 billion FCFA. The decrease in net income is…

The African continent will have to mobilize no less than $ 34 billion annually to deal with exogenous shocks including climate change and significantly reduce the poor. This is the opinion of Mohamed Ibn Chambaz, Special Representative of the United Nations Secretary General in West Africa and the Sahel. He was attending the opening of the fourth African Regional Forum for Sustainable Development, held since May 3, 2018 in Dakar. Mohamed Ibn Chambaz estimates that Africa will have to annually seek $ 34 billion to invest in activities related to food security, resilience to climate change, green energy and…

At the end of the deliberations, the selection committee of the Africa Road Builders trophy has proceeded, this May 3, 2018 in Dakar, to the choice of the winner of the Grand Prix Grand Builder – Babacar NDIAYE Trophy. It is Kenya’s President Uhuru Kenyatta, who is nominated for his personal leadership and for the transformation of the road network. “The Selection Committee warmly congratulates the laureate and has the honor to inform him that the presentation of his trophy will take place on 23 May 2018 in Busan, Republic of Korea, on the occasion of the ADB Annual Meetings.…

Seynabou Dia, CEO of Global Mind Consulting, received the “Entrepreneur of the Year” award at Hub Africa awards 2018 in Casablanca, Morocco. The distinction was handed over by the Secretary General of ECOWAS and former Prime Minister of Guinea Conakry. Institutional communication specialist, Seynabou Dia, had to structure a series of projects first at the European Parliament’s office then at Science Po Paris. A supporter of institutional communication in all its dimensions, including through an anthropological approach, the founder of Global Mind Consulting has a series of large companies in her portfolio, making her one of the most influential of…

The Regional Exchange for Securities (BRVM) has completed the second stage of its Road Show “BRVM Investment Days 2018” in London, Wednesday, May 2, 2018 in partnership with Thomson Reuters with the effective presence of Mr. Pierre Atépa GOUDIABY, Chairman of the Boards Board of Directors of BRVM and DC / BR, David CRAIG, President Finance and Risks THOMSON REUTERS and Dr Edoh Kossi AMENOUNVE, Managing Director of BRVM and DC / BR. Setting the objectives of the London meeting, Mr. Pierre Atépa GOUDIABY indicated that this edition of the BRVM Investment Days should favor among other things (i) the…

Engaged in a regional coverage program, Maroc Leasing, a subsidiary of the group BCP, opened during April its first agency in the city of Tangier. This operation is part of a policy of customer proximity which ensures, in addition, better responsiveness in terms of file processing and decision making. Through the opening of its first branch in Tangiers, Morocco Leasing is starting its regional coverage plan, which supports its strategy focused on the decentralization of its services and customer proximity. Morocco Leasing capitalizes, moreover, on the modern and friendly aspects of its agency as well as on the commitment of…

Nigeria’s Central Bank (CBN) and the People’s Bank of China signed a $ 2.5 billion foreign exchange agreement on Thursday (May 3rd) to facilitate bilateral trade and investment and promote the financial stability of both parties. The currency swap agreement allows both institutions to exchange payments in one currency for equivalent amounts in the other to facilitate bilateral trade settlements and provide liquidity support to the financial markets. Already in 2014, former CBN vice-governor Kingsley Moghalu said the bank was seeking to increase the percentage of foreign reserves in Yuan from 2 percent to 7 percent. According to him, 85%…