Author: Albert Savana

Western Union has opened its first “concept store” in Morocco in partnership with Cash Plus. Located in Errahma, near Casablanca, this store offers a new experience for customers sending and receiving international funds. This opening is part of Western Union’s global “Evolve 2025” strategy, aimed at providing dedicated locations for smoother and more accessible money transfers. Mohamed Touhami el Ouazzani, Western Union’s Regional Vice President for Africa, expressed his satisfaction: “Morocco is a key market for our growth in Africa. We are delighted to collaborate with Cash Plus to improve accessibility and financial inclusion.” In 2023, Morocco received approximately $12…

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The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, and the International Finance Corporation  (IFC) has announced that the Fonds Commun de Titrisation de Créances (FCTC) Sonatel bond – backed by the EAIF and IFC as anchor investors – has listed on the Bourse Régionale des Valeurs Mobilières (BRVM), the West African Economic...

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In the intersection of destinies between Rwanda and Senegal, a meeting is currently taking place in Dakar, illustrating the diversity and richness of the paths of African sovereignty. On one side, President Kagame, a visionary modernizer, embodying a form of enlightened dirigisme that propelled Rwanda onto the path of indigenous development. On the other side,...

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The merger between Sanlam and Allianz, which received some favorable opinions from the Regional Insurance Control Commission (CRCA) of the Inter-African Insurance Markets Conference (CIMA) on February 17, 2024, is currently underway. Sanlam-Allianz CEO, Heinie Werth, oversees the pan-African insurance company from Cape Town, with Burkinabé Delphine Traoré heading the General Insurance division of the...

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With the upcoming BRVM Days set to unfold on the Johannesburg Stock Exchange (JSE) on May 7th and 8th, excitement is brewing for a pivotal convergence of financial minds from West Africa and South Africa.” This event promises to be a cornerstone moment for dialogue, exchange, and collaboration between two distinct regions, each with its...

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The new administration set to take office after South Africa’s general election on May 29 will inherit a challenging array of structural issues that threaten the nation’s economic growth and credit standing, Moody’s said on a 2th May report. These problems include stimulating years of lackluster economic performance, addressing persistent power shortages, and tackling high...

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Ecobank Group has announced a significant milestone, reporting a net revenue exceeding $2 billion for the first time since 2015. This achievement underscores the early success of the bank’s Growth, Transformation, and Returns (GTR) strategy. Key financial indicators reflect the robust performance of the bank: Return on Tangible Equity (ROTE) stands at 24.9%, Cost-to-Income ratio...

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Convicted in 2018 for robbing an agency of the Central Bank of West African States (BCEAO) during the post-electoral crisis of 2011, which led to the death of 3,000 people, former Ivorian President, aged 78, has openly opposed this conviction. This happened at a rally in Agboville, 70 km north of Abidjan, organized by his...

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AVCA launches the 2023 African Private Capital Activity Report London – 2nd April 2024 – AVCA – The African Private Capital Association – today announced the release of the 2023 African Private Capital Activity Report, the anticipated annual report providing insight into dealmaking, fundraising, exits and the key trends shaping Africa’s private capital landscape. In...

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As a logical follow-up to the recent development of its gas strategy (Gas Master Plan), Mauritania has just launched – through Société Nationale Industrielle et Minière (SNIM) – a limited international consultation for the feasibility study of its offshore gas pipeline network. This thus comes opportunely in view of the “first gas” of phase 1 of Grand Tortue/Ahmeyin (GTA)  planned for 2023, the imminence of the signature of the final investment decision (FID) of the phase 2 of scheduled by end of 2022, as well as the promises of development of the gigantic offshore gas field BirAllah whose initial reserves…

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In Algiers, French President Emmanuel Macron, accompanied by his Minister of Defense, Sébastien Lecornu, and 89 businessmen and intellectuals including the historian Benjamin Stora, did not escape the quarrel over memories and, for to resume its polemical expression, of the “memorial rent”. The tenant of the Elysée who had qualified in 2017, while passing through Algiers, when he was a presidential candidate, French colonization as a “crime against humanity”, has since returned to the red lines defended by the official history of France. “Gratitude yes, repentance no,” he will say in essence. “I often hear that, on the question of…

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Nuclear energy was discussed during the audience granted on August 18, 2022 by Cameroonian Prime Minister Joseph Dion Ngute to his compatriot Enobot Agboraw, newly appointed Executive Secretary of the African Nuclear Energy Commission. Appointed only at the beginning of June 2022 by the President of the African Union Commission, Moussa Faki Mahamat, after a selective process, the Cameroonian executive wants to give reality to an African nuclear energy program which is currently limited to regular declarations of intent in a context where, it must be emphasized, the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), is losing ground. With…

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The race for the “big five” metals of the energy transition is well underway but could quickly reproduce the drama of Kivu, a rich province of the RFC, today at the mercy of traffickers and armed gangs. These 5 most sought-after metals are copper, of which the Democratic Republic of Congo (DRC) precisely holds 80% of the world’s reserves, aluminum, nickel, cobalt and lithium. According to the International Energy Agency (IEA), limiting global warming to less than 2˚C could require a fourfold increase in the supply of minerals for clean energy technologies over the next two decades. In such a…

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It was his fifth presidential bid. The election of the last chance for this veteran, soft leftist, imprisoned for nine years, several times minister, prime minister but never president. This time, Raina Odinga, 77, head of the Azimio la Umoja One Kenya (Coalition for Unity) coalition, is very close to the holy grail he had already thought he had reached during his supposed stolen victory in 2007 for the benefit of Mwai Kibaki. An electoral dispute settled in blood with 1100 dead in post-election violence which had led to a government of national unity with Odinga as Prime Minister. In…

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With his visit to Rwanda, US Secretary of State Antony Blinken ended a diplomatic tour on Thursday marking the return of the United States to the game of influence on the African continent. This last stage was undoubtedly the most closely scrutinized by the international community and the most delicate for the American diplomat who, upon his arrival, broached a sensitive subject with President Paul Kagame: the situation in eastern DRC, very weakened by the M23 terrorist group. Chance of the calendar or not, this visit came a few days after the leak of the report of United Nations experts,…

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President Ouattara caps commodity prices and subsidizes fuel at the risk of offending liberal orthodoxy. A costly but essential strategy for the preservation of social peace. The effort is substantial. The State of Côte d’Ivoire (Ba3 by Moody’s and BB- by S&P and Fitch) has granted subsidies of around 500 billion CFA francs (USD 778 millions) , since the beginning of 2022, for the fuel component alone. This was revealed by President Alassane Ouattara on Saturday August 6, 2022, as part of the commemoration of the 62nd anniversary of the independence of Côte d’Ivoire. Specifically, he says, “for each liter…

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The Central Bank’s key rate has briskly crossed 200% and the Zimbabwean dollar has lost 72% of its value against the dollar in 7 months 1 USD = 361.9 ZWD] Zimbabwe sees its inflation rate peak at 256.9% in July against 191.6% in June. The former Southern Rhodesia, freed from Apartheid by Robert Mugabe in the early 1980s, is once again sinking into a sad, tailor-made role of countries with the highest inflation in the world, ahead of Venezuela, Sudan and Yemen. This acceleration worries the business community and weakens the balance sheet of the Minister of Finance, Mthuli Ncube…

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The uninhibited liberal Abdoulaye Wade and the Melenchonien socialist Ousmane Sonko would they form an alliance between the carp and the rabbit? After two democratic alternations in 2000 and 2012, Senegalese democracy is moving up a notch with, a first in the history of this country which has been voting since 1848, a virtual balance of power between the opposition and the power. The result of the vote puts the country of Teranga in the same configuration as Ghana, another great West African democracy with since the 2020 elections, a parliament comprising 137 deputies for the ruling party (New Patriotic…

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Conakry had until August 1 to propose a “reasonable” deadline for the transition. An agreement had indeed been reached on July 20 between Guinean Bissau President Umaro Sissaco Embalo, current president of the Economic Community of West African States (ECOWAS) and Colonel Mamadi Doymbouya, head of the National Committee of the Rally for Development (CNRD) in power in Guinea since a coup in September 2021. This agreement negotiated in Conakry between the two leaders concluded with a reduction of the duration of the transition from 36 to 24 months reveals Jeune Afrique. But, faced with the long silence of the…

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Mr. Amadou Hott, Minister of Economy, Planning and Cooperation, signed two financing agreements with Dr. Sidi Ould TAH Director General of the Arab Bank for Development in Africa (BADEA). These agreements relate to the Emergency Access Roads Program and the Urban Modernization Project of four municipalities, for a total amount of 75 million dollars, or 45 billion FCFA. The ceremony took place this Saturday, March 5, in Khartoum, Sudan, in the presence of Ministers MM. Mansour Faye, in charge of Infrastructure, Land Transport and Accessibility and Samba Ndiobène Kâ in charge of Community Development, Social and Territorial Equity. The Emergency…

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The volume of Islamic banking services in Egypt stood at around 429 billion Egyptian pounds EGP (more than 27 billion USD) in 2021, according to a report by the National Islamic Finance Association (Eifa). Up 17.4% from 2020, this level represents around 5% of the country’s total banking market size. According to the report presented this weekend by Mohamed Al-Beltagy, the president of the association, about 248 Islamic branches operate in the Egyptian market, representing about 5.6% of the total number of branches in the market as a whole. They serve a total of more than 3.2 million customers. The…

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The French Minister of Foreign Affairs and European Affairs, Jean-Yves Le Drian, is the subject of a complaint from a Malian civil society organization before the economic and financial center of Bamako, an entity attached to the Ministry of Justice. The complaint relates to the awarding of a passport market under the former regime. On February 21, 2022, the movement called “Maliko” – which means “Mali affair” in Bambara – had, through a note, indicated its intention to file a complaint against the French diplomat. Which would already be effective. “Le Drian is attacked because we are told of his…

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The Gabonese Reinsurance Company (SCG-Ré) will be listed on the Central African Stock Exchange (BVMAC) in 2022 in accordance with its expansion plan. The initial public offering of the subsidiary of the Gabonese Strategic Investment Fund (FGIS) in the equity compartment is in line with its development program, the objective being to cover the countries of the Economic and Monetary Community of Central Africa (CEMAC) and expand its activities in Southern and West Africa. SCG-Ré assures that it has opted for “more financial flexibility to pursue its strategy of above-average internal growth and its value-creating acquisitions”, which also aims to…

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True to its history of non-alignment since the time of the post-independence revolution and the Cold War, Guinea simply did not vote for the United Nations Security Council resolution, submitted on Wednesday March 2 by the Europeans ” demanding that Russia immediately stop using force against Ukraine”. Of the 193 members of the Organisation, 141 countries voted in favor of the text, 5 countries including Russia (Belarus, North Korea, Eritrea, Syria) voted clearly against the text, while 35 countries including Russia’s allies, such as China and Venezuela, preferred to abstain. The historical economic relations between Guinea and Russia, and the…

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In the Democratic Republic of Congo, the treasury bonds launched on March 1, 2022 by the government on the local financial market yielded CDF 35.07 billion (USD 17.5 million) out of the initial solicitation of CDF 30 billion (USD 15 million). . Official data indicates that out of three contending bidders, two were served at the accepted limit interest rate of 4.75%. In total, bids reached 62.07 billion CDF (31.35 million USD) on these three-month financial securities, i.e. a bid coverage rate of 206.09%. The country, faced with weak revenue mobilization, has been relying on these resources since October 2019…

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Meeting on Monday, February 28, the board of directors of the National Institute of Social Welfare (INPS) adopted a 2022 budget, an increase of 18.28% compared to the 2021 budget. It is planned 240.1 billion CFA francs (approximately 410 million USD) in revenue against 221.8 billion CFA francs (approximately 378 million USD) in expenditure, i.e. a projected surplus of 18.3 CFA francs (approximately 31.5 million USD). This reflects an increase of 18.28% in revenue and 17.76% in expenditure compared to 2021. According to Yacouba Katilé, the chairman of the board of directors, the achievement of the revenue objectives for the…

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The Algerian hydrocarbon company, Sonatrach, achieved an export turnover of more than 35 billion USD in 2021, against 20 billion in 2020. Data communicated in an interview with the chairman and general manager of the company published on 27 last February. These are, according to Toufik Hakkar, the results of the increase in primary hydrocarbon production by 5% and export volumes by 17% compared to 2020. “In terms of production which reached 185 million toe (tons of oil equivalent) in 2021, the increase comes from the effort to keep our fields in operation, but also from the implementation of our…

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Mining company Kamoa Copper plans to produce 9.2 million tonnes of copper per annum (Mtpa), up from 7.6 Mtpa, under a debottlenecking plan for Kamoa-Kakula to increase combined plant design processing phase 1 and 2 concentration of approximately 21% once steady-state production is achieved at both concentrators. Co-chairmen Robert Friedland and Yufeng Miles Sun explained in a statement issued on February 22, 2022 that the plan in question is expected to increase annual copper production from the 2 phases of Kamoa-Kakula to more than 450,000 tons by the second quarter. 2023, to position the mine as the world’s fourth largest…

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