Author: Albert Savana

Four letters will soon disrupt the economic order in the French-speaking world. This is “FAOS”, an economic entity of the Groupement du patronat francophone (GPF), which aims to create economic synergy and a business platform. Among the three promoters of the project, the Senegalese Bara Ndiaye, founder of AMS, who shares with us his vision of the instrument intended to mark the French-speaking business space over the next 20 years. How did this FAOS project mobilize you and what is Bara Ndiaye’s paw in this adventure? This project particularly mobilized me, because it was a dream to create this economic…

In the Democratic Republic of the Congo, Vancouver-based Canadian mining company Ivanhoe Mines reports an overall loss of $ 95.7 million in the second quarter of 2021, compared to revenue of $ 300,000 for the same period in 2020 and 16 , $ 2 million in the previous quarter. In its report published Wednesday August 11 on its financial results for the quarter and the six-month period ended June 30, 2021, Ivanhoe Mines justifies this situation by a loss on the fair measurement of the embedded derivative financial liability of 85.7 million USD for the period. Hence, she notes, “the…

Malawi’s anti-corruption office announced on Monday the arrest of big money. Indeed, Malawi’s Energy Minister Newton Kambala was arrested along with presidential adviser Chris Chaima Banda and Enock Chihana, a member of the ruling Alliance. Anti-Corruption Bureau director Martha Chizuma told a televised press conference that the arrests were the result of investigations into complaints by the National Oil Company of Malawi (NOCMA) regarding interference in the attribution of contracts to fuel suppliers. “The other part of this investigation was alleged serious political interference and certain corrupt practices in the procurement process,” Chizuma said. And, she recalls, “there is a…

The extraordinary session of the Conference of Heads of State of the Central African Economic and Monetary Community (CEMAC) on August 18, 2021 in Cameroon, whose main issue relates to “the evolution of the macroeconomic situation in the CEMAC zone in context of the Covid-19 pandemic and analysis of recovery measures ”will see the participation of special guests, including the Managing Director of the IMF, Kristalina Georgieva. This presence explains a source close to the file demonstrates the economic stakes of this summit which takes place at the end of the first generation of programs with the International Monetary Fund…

Announced several years ago, the construction project of the four interchanges (Hamdallaye-Bambeto-Cosa-Cité Enco5) in the suburbs of Conakry to facilitate traffic flow in the Guinean capital reached a new phase on August 8, 2021, with the announcement of the signing of an agreement between the government and the Abu Dhabi Fund for Development (ADFD), in favor of a concessional loan worth US $ 26 million for the construction of the Bambeto and Cosa interchanges. The Abu Dhabi Fund for Development, (FADD), the economic development arm of the government of the United Arab Emirates, with the release of these 26 million…

The Togolese government announced this Wednesday, August 11, that it had adopted a draft decree setting the terms and the price for the sale of part of the State’s shares in the share capital of the Togolese Bank for Commerce and Industry ( BTCI), one of the two public banks still on the market. “In its desire to forge partnerships with the private sector to accelerate economic growth, the government has initiated a process of selling part of its shares in the share capital of the Togolese Bank for Trade and Industry. It is in this context that, in accordance…

The former deputy mayor of Dabou, Sess Soukou Mohamed dit Ben Souck, member of the Steering and Coordination Committee of Generations and Solidarity Peoples, was kidnapped in the street in Bamako by four hooded men dressed in civilian clothes. Under duress, Mr. Sess was forced, according to witnesses who witnessed the scene, into a 4X4 vehicle with tinted windows, bearing no license plate. He has been missing since then, according to the press release published by Guillaume Soro’s GPS movement, which denounces what he describes as kidnapping. Indeed, according to the information in our possession, Sess Soukou Mohamed had taken…

The IMF’s board has approved the signing of the program with the DRC. This three-year program includes reforms and conditionalities to allow the disbursement of one and a half billion dollars. It should be noted already last May The IMF team reached an agreement at the service level for a three-year program to help the country support the recovery from the pandemic, to preserve macroeconomic stability and to revive the momentum of reforms to stimulate sustainable and inclusive growth. Before the conclusion on July 15, 2021, the Board of Directors of the International Monetary Fund (IMF), had conditioned on the…

The shareholders of the African Rubber Plantation Company (SAPH) will receive on August 24, 2021, for fiscal year 2020, an overall net dividend of FCFA 3.381 billion (€ 5.071 million), announced the leaders of this company based in Abidjan. Compared to the 25,558,005 shares that make up the company’s capital, the net dividend per share amounts to 132.3 FCFA. The last dividend paid by SAPH dates back to 2017 with an amount of 78 FCFA. The dividend to be paid on August 24 represents 23.16% of the nominal value of the share, which is 571 FCFA. The IFRS income statement…

After a recession in 2020, the first for 25 years, Africa is expected to register 3.2% growth in 2021. British firm GlobalData said in a report released on August 9. According to the agency, Morocco, Kenya, Ghana, Egypt and South Africa are expected to achieve the strongest growth on the continent, driven by the recovery in global demand, the recovery in commodity prices and oil. These five countries will see their GDP grow by more than 4% in 2021. The strongest African growth, Morocco should achieve a performance of 5.19% of its GDP growth, notes Gargi Rao, Economic Research Analyst…

The leaders of the six countries of the Central African Economic and Monetary Community (CEMAC) will meet on August 18, 2021 in Yaoundé for an extraordinary summit convened by Cameroonian Head of State Paul Biya, its current president. The information was made official on August 10, 2021 in Douala during the extraordinary session of the Council of Ministers of the Central African Economic Union (UEAC). Beyond the other subjects of common interest which will be the subject of careful examination, the said meeting will be mainly devoted to the “report on the evolution of the macroeconomic situation in the CEMAC…

Economic activity in Tunisia was marked, during the first quarter of 2021, by a contraction of around 3% year-on-year, against -2.1% a year earlier, according to data from the Central Bank of Tunisia (BCT) based in Tunis. << The decline in activity affected all sectors except that of non-manufacturing industries which experienced a strong recovery (11.5% against -4.7%) mainly due to the increase in value addition of the hydrocarbons sector (26.1% against -4.4%), ”underlines the BCT. Manufacturing industries thus recorded a decline of 0.3%, during the first quarter of 2021 and year-on-year, mainly in relation to the drop in production…

Suspicions of embezzlement of 13 million USD weigh on the “Tshilejelu” project launched by President Félix Tshisekedi on March 17, 2021, consisting in rehabilitating and modernizing the roads in the cities of Kinshasa (39.72 km), Mbuji Mayi (25 , 32 km), Kabinda (10.5 km), Lusambo (10 km), Kananga (35 km), Mweneditu (5.5 km) and Tshikapa (15.39 km), as well as the Espace Grand Kasaï (101 , 77 km). For the time being, the level of physical execution of this project visibly contrasts with the financial execution, denounces a recent report from the mission of the General Inspectorate of Finance (IGF)…

In South Africa, the trial of former president Jabob Zuma in the corruption case relating to the purchase of military equipment from five European armaments companies, while he was the country’s vice-president in 1999, was postponed this Tuesday, for health reasons. In a short virtual hearing, High Court Judge Piet Koen said the former head of state’s next hearing is set for September 9, 2021. The judge granted the postponement, but ordered Jacob Zuma’s team to produce a medical report by August 20. He also ordered the state to appoint a doctor of its choice to assess whether the former…

The Ivorian Société Sucrivoire SA, specializing in the manufacture of sugar, will pay its shareholders on August 20, 2021, for the 2020 financial year, a total net dividend of CFAF 793.800 million (€ 1.190 million), announced the managers of this company based in Borotou, a locality located in the north-west of Côte d’Ivoire. Based on the 19,600,000 shares that make up the company’s capital, the net dividend per share amounts to 40.5 FCFA. The last net dividend per share paid by Sucrivoire relates to the 2017 financial year with an amount of 72 FCFA. Due to cumulative losses in 2018…

Accused of having committed several errors in the communication of Mohamed Bazoum and of being at the origin of games of comparison between the current President of the Republic and his predecessor Mahamadou Issoufou through social networks, Waziri Idrissa Dan Madaouan, adviser in communication is no longer part of the staff of the Nigerien head of state since the end of last week. Sources close to the presidential cabinet said he was forced to resign after spending three months in this post. “His goal is to erase the image of President Issoufou and highlight President Bazoum by saying that he…

Guinea reported, on Monday, August 9, 2021, on its territory more precisely in the prefecture of Guéckédou, in the south of the country, a case of Marburg hemorrhagic fever. This is a first in the country and in West Africa, Guinean health authorities have announced. Tests came back positive for the “rare disease” after samples were sent to the Pasteur Institute in neighboring Senegal last week, said Sory Keira, spokesperson for Guinea’s National Health Security Agency. “Marburg virus disease, which belongs to the same family as the virus responsible for Ebola virus disease, was detected less than two months after…

The 27th Congress of the Universal Postal Union (UPU) has been held since Monday, August 9 in Abidjan. This work should lead to the adoption of the “Abidjan Postal Strategy” for the development of postal services throughout the world. “We ended up believing that Congress was fleeing the continent. But today, it can be said that the Indian sign has been defeated. Africa is finally hosting this major Congress for the postal industry in Abidjan. What an honor and what pride for an entire continent and for a country! “, Welcomed the Ivorian Prime Minister Patrick Achi, who chaired, this…

The Central Bank of Morocco (Bank Al-Maghrib) has just announced that it is working on a project to compare bank tariffs and value dates. A technical service provider who will provide the platform has already been selected. For the monetary authorities, this tool will serve to introduce more transparency between the customer and his bank. Bank Al-Maghrib’s initiative will shake up a certain immobility that Moroccan banks maintain on value dates despite modern technological means that no longer justify the status quo. Two institutions, CIH Bank and CFG Bank, had broken a sort of tacit understanding of the industry on…

In the Democratic Republic of Congo, the government formalized on August 7, 2021, a decree announcing a drop in the prices of plane tickets, exceeding 40% for the main routes. It was at the end of a meeting with the air carriers and members of the Federation of Enterprises of Congo (FEC) that the Prime Minister, Jean-Michel Sama Lukonde, presided over the signing ceremony of the ministerial decree. fixing the new tariffs for the air services of the domestic network in the DRC by the Minister of the National Economy, Jean-Marie Kalumba Yuma. According to the Congolese government, this new…

The 2020 financial year was very difficult for the decentralized financial systems (DFS) of the West African Monetary Union (WAMU) falling under article 44 of the law regulating DFS (level of activity reaching a threshold of 2 billion of FCFA in outstanding deposits and loans) with profits down 38% compared to 2019. According to data from the General Secretariat of the Banking Commission, the community banking supervisory body based in Abidjan, these profits amounted to FCFA 18.8 billion against FCFA 30.3 billion at the end of the 2019 financial year. << The benefits are distributed, in order of importance, between…

It was almost two months since Laurent Gbagbo returned to Côte d’Ivoire after 10 years under judicial supervision by the International Criminal Court (ICC). This Monday, August 9 in Abidjan, in front of the entire leading wing of the Ivorian Popular Front (FPI) which has remained loyal to it, the former president offered to turn the FPI page. The rift between Laurent Gbagbo and his ex-Prime Minister Affi N’guessan, who for a good 20 years led the Front populaire Ivoirien (FPI) is now abysmal. In front of the entire leading wing of the FPI-GOR (the wing of this party which…

The date is not yet official. But according to our information, the heads of state of the Economic and Monetary Community of Central Africa (CEMAC) should meet face-to-face in August in Yaoundé during a summit where they will work mainly on the socioeconomic situation of the region. -region in a context marked by the depreciation of the terms of trade reinforced by the Coronavirus pandemic. After the sweep of emissaries dispatched by the Cameroonian Head of State Paul Biya, current president of CEMAC to his counterparts in the sub-region with a view to adopting the main orientations of the said…

If they remain solid in view of their average solvency ratio (15.7%) and their short-term liquidity coefficient (164%), Moroccan banks saw their profits plummet by 43.2% in 2020, to 6 , 8 billion dirhams against 12 billion in 2019. But the performance of their subsidiaries in sub-Saharan Africa was less affected by the health crisis. For the 2020 financial year, they represented 41% of the group’s net profits of their parent companies, notes Hiba Zahoui, director of banking supervision at the central bank (Bank Al-Maghrib). Despite the mechanical increase in this share due to the drop in results on the…

In northern Mali, an attack carried out on the night of Sunday 8 August to Monday 9 August by heavily armed individuals resulted in the deaths of around 50 civilians, according to local authorities. “It was on Monday morning that a mission of the defense and security forces was dispatched to the scene,” said Oumar Kida, deputy prefect of Ansongo, quoted by the Anadolu agency. For his part, Mahamane Bacala, deputy mayor of Ouatagouna commune, said the attack targeted four villages, namely Karou (17 dead), Dirgua (7), Deouteguef (14) and Ouatagouna (10). According to an elected municipal official, the balance…

Could the half billion (555 million exactly) euros gross received in salaries and miscellaneous by Messi between 2017 and 2021 have weighed on FC Barcelona, ​​explaining the current earthquake in the world of football? Nothing is less sure. After securing the deal of the century in 2017 with a signing bonus of 115 million euros, the greatest footballer of all time (it is according to him) is now facing the backlash of finance. At 34, the Pulga did not renew their contract, leaving FC Barcelona after 17 seasons, 672 goals, 305 assists and 35 trophies won. The annual salary of…

December 24, 2021 is the new date announced by the Minister of Infrastructure, Land Transport and Accessibility, Mansour Faye, for the start of the Regional Express Train (TER). In an interview with the Senegalese newspaper ‘L’Observateur’, the minister said that “on December 24, 2021, users will take the TER from Dakar station”. According to Mansour Faye, to date, “Ter has a 97% execution level. Everything that is railway platform is 100% delivered, the 15 trains are 100% delivered. Currently, testing is continuing. At the system level, which is the backbone, in terms of security, it’s about 85-90% “. This umpteenth…

Jacob Zuma, the former South African president imprisoned since July 8 for contempt of court, was admitted this Friday August 6 “in a hospital outside to be placed under medical observation”, according to a statement released by the Department of Corrections. This announcement comes four days before the resumption of his corruption trial relating to the purchase of military equipment from five European armaments companies, when he was vice-president of the country in 1999. This trial – to which he will be able assist although he is imprisoned in a separate case – also involves the French group Thales, and…

The resources of credit institutions in the West African Monetary Union (WAMU) amounted to 38,691.7 billion FCFA (58.037 billion euros) in 2020, according to the report of the Banking Commission based in Abidjan. Compared to 2019 or, they stood at 33,129.6 billion FCFA, these resources were consolidated by 15.8%, year-on-year. “They break down into deposits and loans (85.3%), net equity (10.7%) and other resources (4.0%)”, specifies the Banking Commission. Deposits and loans increased by 17.0% per year, standing at 33,007.3 billion FCFA at the end of 2020. They are made up of sight deposits (17,919.1 billion; 54.3%) and deposits at…

Less than 24 hours after posting a tweet from his official account in which a world map is displayed with Morocco amputated from its Sahara, US President Joe Biden deleted his controversial post. No explanation is given by the White House. In the tweet broadcast Tuesday evening, August 3, 2021, the American president praised his vaccine diplomacy with 110 million doses of vaccines offered to “more than 60 countries”. Biden’s tweet did not go unnoticed in the Algerian press, unilaterally aligned with the official position of their country, the main supporter of the Polisario, a movement claiming the independence of…