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 Gabonese Society for Agricultural Transformation and Rural Development (SOTRADER) has received funding from the African Development Bank Group (AfDB) for the resources of the African Private Sector Assistance Fund (FAPA) to cover the cost of the project. technical assistance to strengthen the management and financial inclusion capacities of Seed Program cooperatives and planters. This is what specifies, Tuesday, July 10, a notice for expression of interest that specifies that a portion of the sums granted under this gift will be used to finance the contract of recruitment of a company specialized in agricultural entrepreneurship. The deadline for submitting offers…

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The amount of gold mined in Gabon, mainly in the traditional way, has never revealed its real turnover for decades because undeclared gold miners from the Central African subregion exploit gold mines in the country. Gabon without any control of the State, rather focused on the sectors of oil, manganese and wood, because more profitable. According to the Gabonese Ministry of Mines, artisanal gold miners would produce on average between 25 and 55 kg of gold / month at the rate of 5000 FCFA per gram. This estimate was made following an audit conducted by the French Bureau of Geological…

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The African Export-Import Bank (Afreximbank) and the World Trade Center Miami Inc (WTCM) have signed a three-year memorandum of understanding (MoU) that will enable the two institutions benefit from each other’s knowledge, experience and capabilities in pursuing the expansion of US-Africa business relationships. Under the terms of the MoU, signed on 12 July during the Afreximbank Annual Meetings and 25th Anniversary Celebrations taking place in Abuja, Afreximbank and WTCM will use their resources to strengthen the commercial partnership between countries in the Americas and Africa. They will collaborate in Miami, the United States, the Americas and throughout Africa to mobilize public and private…

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Global trade enabler warns against violation or face legal action DP World reiterated today that its concession agreement for the Doraleh Container Terminal (DTC) remains in force, warning that the government’s illegal seizure of the facility doesn’t give the right to any third party to violate the terms of the concession agreement. DP World statement came in the wake of news reports on the opening of the first phase of the Chinese-built International Free Trade Zone, in violation of DP World’s exclusive management rights. A DP World Spokesperson said:”This is yet another clear example by the Djiboutian Government of…

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Published on July 4, SWIFT’s report, Payments in Africa: Overview of African Trade Flows, reveals that payment clearing and commercial transactions are growing across the continent. The report compares commercial payment flows with financial flows, showing an increase in the use of African currencies for cross-border payments and a decline in the predominance of North American clearing banks and the use of the US dollar. Over the period, there is a decrease in the number of foreign correspondent banks in most African regions. The report also identifies the factors behind this change and their impact on the banks represented in…

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Former banker at the Citi, Gabriel Fal launched CGF Bourse in 1998 while the Regional Stock Exchange began. Twenty years later, the first SGI approved in Senegal, carried on baptismal font with 6 employees counts 39 and, above all, a long pedigree of operations arranged and structured on the regional financial market. Among other things, the listing of Sonatel, which now accounts for 43% of the BRVM’s capitalization, the bond issue of the Autonomous Port of Dakar in 2003 and, two years later, the very first bond issue of the State of Senegal buckled with a record underwriting of 90…

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The two leaders in the banking sector are neck and neck. Thus, Attijariwafa Bank holds 23.79% of the outstanding credit market share against 23.78% for the BCP. The Horse Bank is first in terms of deposits with 26.28% of market share against 24.97% according to the figures of the “Analysis & Research” department of the stock company Crédit du Maroc Capital (CDMC). The two leaders are in a pocket handkerchief on net banking income. Thus, Attijariwa Bank presents a GNP of 11.5 billion dirhams (1.26 billion dollars) against 11.43 billion dirhams for the BCP (1.25 billion dollars). The two leaders…

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The EIB and AfDB provide financial support to SNIM for a total amount of US $ 109 million.   This funding is intended for the deepening and widening of the access channel of the Nouadhibou ore port.   Through this support to the National Industrial and Mining Company (SNIM), the second largest employer in Mauritania, the EIB and AfDB contribute to securing the economy and growth in the Sahel region. The European Investment Bank (EIB), which is the bank of the European Union, and the African Development Bank (AfDB) have concluded financing of $ 59 million and $ 50 million,…

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Secretary General António Guterres concluded the second annual UN-African Union conference in Addis Ababa, as part of ongoing efforts to strengthen the relationship between the two organizations. Held on 9 -10 July, the meeting covered the issues elaborated in the joint AU-UN development framework, including peace and security. “We feel a wind blowing in the direction of peace,” he said, referring to recent developments such as the historic visit by Ethiopia’s Prime Minister to rival and neighbour Eritrea, as well as peace talks on South Sudan, where conflict has raged since 2013. “All this gives us hope that the African continent will be…

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The Government of Republic of the Sudan signed a Memorandum of Understanding (MoU) with the African Risk Capacity (ARC) to work together towards helping the country better prepare to efficiently deal with extreme weather events and natural disasters. The MoU was signed during the ARC ‘Lessons Learned Workshop’ for the countries of East and Southern African (ESA) region which held at the Capital on the Park Hotel, Johannesburg, South Africa, to take stock of the ARC programme implementation. The Minister of Interior, Mr. Ibrahim Mahmoud Hamad, represented by Dr. Hashim Hussein, the Secretary-General of the Sudanese National Council for Civil…

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Meeting in the frame of the European Development Days 2018 in Brussels, Abdou Samb, President of FRS Consulting and expert at the European Commission for questions related in particular to the innovation, delivers his point of view on the upheavals brought by the digital the continent in this exclusive interview granted to Financial Afrik Interview by Szymon Jagiello, Financial Afrik’s European Affairs Correspondent How would you characterize the African business community in the digital world? First of all, let me mention the new paradigm that is gradually taking hold in Africa and that is tending to completely change…

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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…

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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…

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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…

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