Author: Albert Savana

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…

Cameroon and the European Union (EU) launched on August 4, 2021 the sixth tariff dismantling of the Economic Partnership Agreements (EPAs) which cover customs duties on products eligible for trade preferences. Five years after the signing of the said agreements, Cameroon already has a deficit of more than 30 billion FCFA (45 million euros), indicated the General Directorate of Customs (DGD). Through the products constitute the second phase of tariff dismantling which began in 2017 and which concerns, among other things, inputs for food products, clinker, machines, vehicles, these could make it possible to improve the production of certain companies.…

The Togolese authorities received this Thursday, August 5, a first shipment of 118,000 doses of Johnson & Johnson vaccine acquired through the African Union (AU) platform. The country thus becomes the first on the continent to receive the vaccine produced in South Africa. According to an official note, this acquisition has definite advantages including administration in one dose and storage at temperatures of +2 to +8 degrees. These doses of Johnson & Johnson vaccine received by the Togolese government are in addition to the 416,000 doses of AstraZenaca, 200,000 of Sinovac and 100,620 of Pfizer already received since last March.…

For the treatment of waste, the production of renewable energies and the preservation of biodiversity, the Ivory Coast is looking for 121 billion CFA francs on the regional market of Uemoa. This project, which also takes into account the rehabilitation works of the Akouédo landfill, has already mobilized 33.5 billion CFA francs. A second $ 50 billion loan issue is underway and ends August 12. This operation, consisting of 5 million securities with a nominal value of 10,000 FCFA per unit, will be amortized over 7 years with an annual interest rate of 5.80% FCFA. Called “TPCI 5.80% 2021-2028”, this…

The State of the Democratic Republic of the Congo (DRC) raised 15 billion Congolese francs (CDF), or 7.5 million USD, on the local financial market following a treasury bond auction. August 3, 2021. Taking into account the 15 billion CDF, this is a percentage awarded at the accepted limit rate of 100% against a coverage rate of the amount put out to tender of 113.33%, notes a press release from the Ministry of Finance which specifies that two bidders served have been identified. Indeed, the operation recorded a total amount of bids of 17 billion CDF (equivalent to 8.5 million…

The first economic power on the African continent, Nigeria, we learn, will benefit from an amount of 3.35 billion USD as part of the general allocation of special drawing rights (SDRs) of the International Monetary Fund (IMF). This amount represents 0.51% of the 650 billion dollars (equivalent to 456 billion SDRs) whose approval by the IMF’s board of governors was announced on August 2, 2021 by the international institution. The objective of this initiative is to increase liquidity in the world in this context of crisis. “This SDR allocation will benefit all member countries, meet the global need for long-term…

The National Bank for Economic Development (BNDE) signed this Thursday, August 5, 2021 at the headquarters of the Bank, Immeuble Rivonia, an agreement with the National Union of Associations, Traders, Operators and Investors of Senegal (UNACOIS-YESSAL) which campaigns for the promotion of local production. This partnership aims to facilitate and simplify the financing of the industrialization program of the members of UNACOIS YESSAL and beyond to support the success of this highly strategic project. From its beginnings to the present day, UNACOIS Yessal aims on the one hand to develop the “small industry” of consumer goods (soap, oil, food products,…

Investec, an Anglo-South African banking group, announced on Wednesday (August 4th) that it had launched a new banking product aimed at businesses and entrepreneurs. In its statement, the group said it offers a comprehensive portfolio of products, services and capabilities for established entrepreneurs and midsize businesses. The offering, he points out, is based on a transactional banking solution that complements Investec’s existing finance, foreign exchange, treasury management and private banking services. “Although we are not known as an investment bank, we now have a complete end-to-end business proposition,” said Richard Wainwright, Managing Director of Investec Bank adding that “this new…

The pan-African fund manager Emerging Capital Partners (ECP), a major player in private equity on the continent, AP Moller Capital, a fund manager specializing in the infrastructure sector and developing markets, DEG, the German financing institution of the development dedicated to the private sector, and Investment Fund for Developing Countries (IFU-Denmark), the Danish development finance institution for private sector investment in developing countries, have announced the creation of a new company called “ECP Power & Water Holding ”which will invest in the industrial group Eranove. ECP Power & Water Holding becomes the reference shareholder of the pan-African industrial group Eranove,…

By Abashi Shamamba. In the war waged by Moroccan and Tunisian industrialists in the school notebook, the latter have just won a major battle with the WTO a few weeks before the start of the school year, the period when the highest volumes of sales occur. The WTO has just ruled in favor of Tunisia, which contested the anti-dumping duties applied for four years by Morocco on imports of Tunisian notebooks. The Panel, the WTO body responsible for such requests, issued its ruling on July 27. A week later, on Wednesday August 4, Morocco appealed the decision, questioning several elements…

Societe Generale Cameroon (SGC) is positioned among the main banks that support economic agents to grow their activities. For the year 2020, the SGC granted 802 billion FCFA (1.4 billion euros) in credit, standing out as a leader in this business segment with 19.2% of the market share. Through a diversified financing approach, this bank provides support for the development of private public projects, in fields as varied as energy, transport, public finance, and agribusiness. Over the past two years, the SGC has increased subscriptions on the government securities market, with a 500% increase in its interventions by ranking as…

The inflation rate stood at 6.2% in June 2021 in Togo, according to data from the Central Bank of West African States (BCEAO). He had never reached such a level, at least since at least 2013. Already in May, the previous month, the inflation rate had risen to 3.8%, which was then the highest rate for more than 8 years, after the 3.6% observed in December 2020. At 6.2%, Togo has the highest figure of the WAEMU countries in June. It is followed by Benin and Mali, whose inflation rates stand at 4.6% and 4% respectively. Overall in the region,…

After the heated debate on the advisability of applying the principle of flexibility in the price of fuel, the Guinean government formalized this Tuesday, August 3, the increase in the price of gasoline at the pump of 22.22%, from 9 000 to 11,000 GNF from this Wednesday 4. The prices of other petroleum products such as gas oil and fuel oil (raised at the same price) among others, are also affected by this readjustment which has caused a lot of ink and saliva to flow. The state offered itself the privilege of overriding the application of the principle of flexibility…

The State of Mali, through the National Directorate of the Treasury and Public Accounts, raised on August 4, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 50 billion FCFA (75 million d ‘euros) at the end of its issuance of treasury stimulus bonds (ODR) with maturities of 3 and 10 years. ODR issues are initiated by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO). They aim to enable the issuer to mobilize the savings of natural and legal persons in order to cover the financing needs of…

The turnover of the company Tractafric Motors Côte d’Ivoire (TMC), specializing in the sale of motor vehicles, increased by 901.416 million FCFA (1.352 million euros) in the first quarter of 2021 compared to the same period of 2020, the leaders of this Abidjan-based company announced. This turnover stood at 14.827 billion FCFA against 13.926 billion FCFA as of March 31, 2020. “The market share for the first quarter of 2021 amounts to 14% with 613 new vehicles delivered against 586 vehicles delivered to first quarter of 2020, an increase of 5% ”, underline the leaders of TMC. They add that…

In Mali, Firefinch chief executive Michael Anderson said operations at the Morila gold mine, located in the south-east of the country, generated positive income of $ 3.4 million in the second quarter of 2021, according to the recently announced quarterly activity report with Stockhead, an agency that publishes information on emerging companies listed on ASX. In a memo released on July 30, 2021, the Australian company’s chief executive explained that Firefinch is going full steam ahead in its attempt to revive the Morila gold mine. “Site operations generated positive revenue of $ 3.4 million. Open pit volumes were also encouraging…

It is the largest demographic transition ever experienced in human history. Sub-Saharan Africa’s (SSA) working-age population will grow by more than 200% by 2050, providing a significant opportunity for economic growth in the region, economists from S&P Global Ratings said in a report released today. ‘hui. “The countries of sub-Saharan Africa are undergoing the most significant demographic transition in their history. Unprecedented declines in fertility rates, a drop in infant mortality and an increase in life expectancy will be of crucial importance for the region’s economic prospects for decades to come, ”said Valerijs Rezvijs, economist by S&P Global Ratings. “The…

The Board of Governors of the International Monetary Fund (IMF) on August 2, 2021 approved a general allocation of special drawing rights (SDRs) of $ 650 billion to increase liquidity around the world. “This is a historic decision: the largest allocation of SDRs in IMF history and a breath of fresh air for the world economy in this time of unprecedented crisis. This SDR allocation will benefit all member countries, meet the global need for long-term reserves, boost confidence and strengthen the resilience and stability of the global economy. It will especially help our most vulnerable member countries as they…

Niger wants to show its agricultural assets to investors through a digital portal called “Duddal”. The result of cooperation with Germany, this newly launched platform involves the Ministry of Agriculture and Livestock, the Promotion Agency of the Agricultural Council (Apca), the National Agency for the Information Society ( Ansi) and the Niger Chamber of Agriculture Network (Reca). For the Director General of Ansi, Ibrahima Guimba Saidou, Duddal is part of the Niger 2.0 strategy and aims to “modernize the rural world by providing it with the tools and means to enhance agricultural production in order to improve the living environment…

Since leaving the White House last January, Donald Trump has watched his fortune plummet like snow in the sun. Estimated at $ 3.7 billion in 2017, the wealth of the former White House tenant would be worth only $ 2.4 billion in April 2021 according to estimates by Forbes magazine. The Bloomberg Billionaires Index, which estimates Trump’s net worth at around $ 2.33 billion, says his net worth fell by about $ 700 million in his last year as president. And to make matters worse, the former US president, in debt, abandoned by some of his bankers, has just been…

The State of Côte d’Ivoire, through its General Directorate of the Treasury and Public Accounts, raised on August 3, 2021 an amount of 56.307 billion FCFA (84.460 million euros) on the financial market of the Union West African monetary (UMOA) at the end of its simultaneous issue by auction of assimilable treasury bonds (BAT) with a maturity of 91 days and 364 days. These resources are intended to cover the financing needs of the Ivorian state budget. For the third quarter of 2021, the intentions of issuing government securities by auction expressed by the Ivorian authorities amount to CFAF 355…

The net banking income (NBI) of the BH Bank of Tunisia recorded an increase of 22.43% in the 2nd quarter of 2021 compared to the same period of 2020. The activity indicators of this banking establishment highlight a NBI of 269.978 million dinars against 220.502 million dinars in the second quarter of 2020. BH Bank saw its banking income fall by 31.056 million dinars with an achievement that fell from 548.088 million dinars on June 30, 2020 to 517.032 million dinars a year later. This underperformance is caused by the decrease of 51.106 million dinars in interest to 392.823 million…

The private company GED Africa / RDC has, on Friday July 31, agreed to finance, with nearly 253 million USD, the construction of the Kasomeno-Kasenga-Tchalwe road (270 km) which will leave the Democratic Republic of Congo. as far as Zambia, after two days of discussions with the Congolese Large Works Agency (ACGT) through the Ministry of Infrastructure. The road will start from Luapula province in Zambia to Haut-Katanga in DRC, with a toll booth and a bridge that will be thrown over the Luapula River. According to experts, this is one of the largest public-private partnership projects ever implemented in…

Jobs in the West African Monetary Union (WAMU) banking system stood at CFAF 41,460.7 billion (€ 62.191 billion) in 2020, according to the report by the Abidjan-based Banking Commission. These jobs increased by 14.9% over the year against 10.4% in 2019. “Their structure remains dominated by customer loans (60.3%) and investment securities (25.9%) », Inform the Banking Commission. As for the shares of financial fixed assets, other fixed assets and various uses; they are respectively 0.6%, 10.4% and 2.9%. Customer loans, net of provisions, increased by 8.3% year-on-year, reaching CFAF 24,981.1 billion at the end of 2020. They are made…