Author: Albert Savana

Rwandan President Paul Kagame has just entrusted Yolande Makolo, a woman from the seraglio, with the task of carrying the official word of the government. Born to a Congolese father of the Luba ethnic group from Kassai (DRC) and a Rwandan mother, Yolande Makolo, sister of Yvone Makolo, patron of the Rwandair Airline, is one of the influential women who rose through the ranks within the establishment Rwandan. It was during the last Council of Ministers of July 30, chaired by President Paul Kagame, that the latter carried out a government reshuffle by appointing Yolande Makolo as the new government…

France and Equatorial Guinea avoided a diplomatic crisis the unexpected outcome of which surprised many observers who expected more of a stalemate especially since it concerns security issues that have given rise to divergent interpretations on both sides. else. The “unauthorized” landing of a French army helicopter on July 27 in the city of Bata rekindled tensions between the two countries, especially since this “incident” occurred the day after the conviction in France in the case of “ill-gotten gains”, of the vice-president of the Republic of Equatorial Guinea Teodoro Obiang Mangue, also son of the head of state Teodoro Obiang…

Hatif Libya, a subsidiary of the Libyan Telecommunication Holding Company (LPTIC), signed an agreement with the American company Infinera to improve the fiber optic network in Libya. The convention was initialed on July 26, 2021 in a ceremony marked by the presence of Libyan Prime Minister Abdul-Hamed Dbeibah and many other personalities. The multi-million dollar project will allow people living in the most remote areas to access the internet and other mobile services. The fiber-optic company said the project relies on universal switching and transport capabilities. This will allow the national network to dynamically switch traffic over various paths to…

Emrald Securities Services Bourse (ESS BOURSE), announces the ceremony of the first quotations of the securities “EOCG 6.25% NET 2021-2026” and “EOG 6% NET 2021-2026” at the headquarters of the CEMAC Securities Exchange ( BVMAC) on Friday July 30, 2021 in Douala. These first listings follow the Bond issues by public offering of the Republic of Congo and the Gabonese state. The structuring and centralization of these two transactions were carried out by Emrald Securities Services Bourse (ESS Bourse) in its capacity as arranger and leader accompanied by its partners CBC Bourse, Afriland Bourse & Investissement, BICIG, the LCB group…

From 205.38 billion FCFA in 2019, the total balance sheet of Coris Bank Togo rose to 309.92 billion in 2020, up 51% over one year. On the market since 2015, the subsidiary of the eponymous Burkinabé group thus wins the pawn at Banque Atlantique (289.25 billion, + 10% compared to 2019), at the Togolese Bank for Trade and Industry (BTCI, 264, 43 billion, + 22%), and to the Togolese Banking Union (UTB, 284.19 billion, + 22%), becoming the 3rd Togolese bank behind Orabank, solid leader with a total balance sheet of 710.89 billion in progression annual rate of 13%, and…

Mauritius Commercial Bank (MCB) and Bank of Kigali signed on July 26, 2021, a loan facility of $ 20 million primarily intended to finance general business projects of the Rwandan bank. “This 20 million USD term loan from Mauritius Commercial Bank Limited will increase the liquidity of Bank of Kigali and support our efforts to finance the economic recovery of our clients who have been affected by the Covid-19 pandemic, in particular the small and medium-sized enterprises, ”said Dr Diane Karusisi, CEO of Bank of Kigali. In turn, Alain Law Min, CEO of MCB Ltd, said he was “convinced” that…

At a press conference on July 28, 2021 in Kinshasa, Minister Nicolas Kazadi of Finance of the Democratic Republic of Congo (DRC) indicated that the country is waiting for other economic partners after the resumption of the program with the International Monetary Fund (IMF), which gives a strong signal to the economic world that the DRC is pursuing the international standards accepted by all, after the finalization of the discussions held between April and July 2021. Under this three-year program running from 2021 to 2024, Kinshasa should benefit from a global envelope of 1.52 billion USD, the first immediate disbursement…

Burundi’s economy is expected to rebound to around 2% in 2021 after contracting 1% in 2020, according to data from the International Monetary Fund (IMF). This recovery will be supported by renewed activity in the secondary and tertiary sectors, according to forecasts which condition it to the resolution of supply chain problems. According to the IMF, the slowdown in the Burundian economy as a result of the hardest-hit tertiary sector – due to travel restrictions and supply chain disruptions in trading partner countries – has been mitigated by growth in sectors such as subsistence agriculture and construction of public infrastructure…

The Secretary General of the African Continental Free Trade Area (Zlecaf), Wamkele Mené, congratulated the work of the Ivorian national committee headed by Fatoumata Fofana, this Tuesday, July 27, during a visit to the premises of the Ivorian representation in Abidjan. For Wamkele Mené, Côte d’Ivoire is on the right track in the context of the implementation of this regional integration instrument. A consequence, according to him, of the actions carried out by the national executive secretary and her team. Namely the promotion of the agreement at the national level, the contribution to the development of national strategies, the contribution…

The balance sheet total of credit institutions in the West African Monetary Union (WAMU) recorded an increase of CFAF 6,159.3 billion (€ 9.238 billion) as of December 31, 2020 compared to the same period of 2019, according to the report of the Banking Commission based in Abidjan. This balance sheet total stood at CFAF 47,718.5 billion against CFAF 41,258.6 billion as of December 31, 2019, an increase of 14.8% year-on-year. According to the Banking Commission, this development has been observed in all the banking centers of the UMOA. By country and in order of importance, the strongest increases were observed…

Bolloré Transports & Logistics Côte d’Ivoire, a subsidiary of the French multinational of the same name, will pay its shareholders on August 11, 2021, for fiscal year 2020 as in 2019, an overall net dividend of FCFA 5.443 billion ( 8.165 million euros), announced the leaders of this Abidjan-based company. Compared to the 54,435,300 shares that make up the company’s share capital, the net dividend per share amounts to 100 FCFA as in 2019. The dividend that will be paid represents 50% of the par value of the share which is 200 FCFA. Bolloré Transports & Logistics Côte d’Ivoire achieved…

The international rating agency Fitch Ratings once again assigns a triple A rating to the African Development Bank (AfDB) with a stable outlook. A note which confirms the financial strength of the Pan-African bank, reinforced by the unwavering support of shareholders, but also the issuance of its five-year bond loan of 2.75 billion dollars. “The African Development Bank welcomes the fact that Fitch has confirmed its AAA rating, with a stable outlook, despite the enormous challenges posed by the Covid-19 pandemic. The Bank will continue to strengthen its fiscal policy and relevance in support of African countries facing the global…

Amen Bank, Tunisia’s second private bank, published its financial results at the end of the first half of 2021. It shows that the net banking income recorded an increase of 19.5% to 222.2 million dinars (80 million USD). compared to the end of June 2020. Regarding banking operating expenses, they recorded a decrease of 34.3 million dinars (12.3 million USD), from 240.7 million dinars (87 million USD) during the first half of 2020 to 206 , 4 million dinars (74 million USD) for the same period of 2021. Customer loans, net of provisions and reserved agios, increased from 5,849.1 million…

After ten years of enmity, former President Laurent Gbagbo and his successor Alassane Ouattara actually met on the afternoon of Tuesday, July 27 at the Ivorian Presidency Palace. The Palace of the Ivorian presidency in Abidjan indeed experienced a rather special atmosphere on July 27 at the end of the afternoon. As announced on Wednesday, July 21 by the government spokesperson, President Alassane Ouattara and his predecessor Laurent Gbagbo did indeed meet. The two leaders thus broke the wall of ice which had been erected between them after the violent post-electoral crisis of 2010. A crisis which ended in the…

A new general manager has been appointed to head the mobile operator Orange-Cameroon, in this case the Beninese Patrick Benon who until then held the same functions in Botswana. He succeeds Frenchman Frédéric Debord appointed CEO of Orange Madagascar, replacing Michel Degland transferred to Mauritius Telecom. “These appointments are part of the Group’s international mobility policy and occur, for each of them, at the end of the term of office of the outgoing. These appointments will all be effective in September 2021, “the company said in a statement following the board meeting held on July 27, 2021, in Casablanca, Morocco.…

Rwandan authorities have approved the KCB group’s deal for the takeover of Banque Populaire du Rwanda (BPR) from London-listed financial services company Atlas Mara Limited. Atlas Mara indicates that it has obtained authorizations to sell its banks in Rwanda and Botswana. The company is also awaiting approvals from Tanzania where KCB Group is seeking to acquire African Banking Corporation Tanzania (BancABC). KCB Group announced last November that it had signed an agreement with Atlas Mara to buy 62% of the capital of BPR and 100% of the capital of BancABC. “The company has obtained regulatory approval for transactions regarding its…

A year and a half after the outbreak of the pandemic, Africa is doing better than resisting the Coronavirus. Until then, the slaughter predicted, or at least announced by Westerners, has not yet taken place, much to the surprise of those who read crystal balls and are now guessing. But should we say that Africans are naturally immune so as not to fear a human disaster? It would be irresponsible if, as long as the disease not only claims many victims on a daily basis, official statistics are certainly underestimated in view of the difficulties encountered in accessing real data.…

Introduced a few days earlier by his lawyers, the request for provisional release of the former Beninese minister, Reckya Madougou, in pretrial detention since last March for “financing of terrorism”, was rejected on July 16, 2021 by the Court of repression of economic crimes and terrorism (CRIET). Two reasons were mentioned in his order by the President of the Chamber of Freedoms and Detention. According to Edibayo Joanna Dassoundo, the charges against the accused are serious. Moreover, she says, Reckya Madougou and her co-defendants have only been questioned once and the various statements require further questioning and even confrontation. First…

Affected by the rationing of electricity which ended at the beginning of July not without having affected the performance of several companies, the Ivorian economy, which quickly recovered, risks being again weakened by the economic situation. from China. The world’s largest producer of electricity in 2019 (27.8% of the world total), the Middle Kingdom is experiencing an unprecedented crisis in the sector. Extreme temperature conditions have increased the need in some areas for electricity for air conditioning and refrigeration use. While the People’s Republic of China has decided to limit the production of coal plants, which also produce electricity, for…

The Democratic Republic of the Congo will be able to finance its major economic reforms thanks to the three-year program with an Extended Credit Facility of 1.5 billion with the International Monetary Fund (IMF). The board of directors approved the signing on July 15, 2021. “Important steps include modernizing the monetary policy framework and strengthening the financial position, governance and independence of the central bank. Steps are being taken to improve the risk-based supervision framework and supervision of banks. The authorities’ objective is to increase foreign exchange reserves while allowing the exchange rate to act as a shock absorber, ”said…

Neighboring countries, Cameroon and Nigeria share several difficulties, including terrorist attacks and secessionist tendencies. An unfavorable context for development, peace and stability which leads the two countries to combine their efforts to face these asymmetric wars, generally logistic, ruinous and costly in human life as well as in financial and material resources. Presidents Paul Biya of Cameroon and Muhammadu Buhari of Nigeria reiterated it again on July 13 in Abuja, during an audience granted by the Nigerian president to the special envoy sent by Yaoundé. The objective is to strengthen cooperation between the two states with a view to eradicating…

As part of the acquisition of vaccine doses in Africa, Standard Chartered will disburse USD 200 million in agreement with the African Import-Export Bank (Afreximbank). This funding announced this Thursday, July 15 is part of the bank’s USD 1 billion funding commitment, launched in March 2020 and aimed at fighting the pandemic by providing personal protective equipment, ventilators and now vaccines. This action is part of the Advance Purchase Commitment (APC) framework structured by Afreximbank in collaboration with the African vaccines acquisition task team (Avatt), “under which Afreximbank has provided a guarantee of $ 2 billion to manufacturers of vaccines…

The International Development Association or the IDA window of the World Bank group takes stock of its disbursements with African countries. Of the 15 guests, 13 heads of state including the Ivorian Alassane Ouattara are present. Rwandan Paul Kagame intervened by videoconference, as did the Ugandan and the Ethiopian prime minister. Organized in Abidjan, this meeting, which constitutes the 20th reconstitution, is marked by the context of Covid-19 which continues to mourn the world’s populations, especially with its new variants. “This 20th replenishment will support a resilient recovery to the Covid-19 economic crisis, and help the continent continue its economic…

The State of Mali, through the National Directorate of the Treasury and Public Accounts, raised on July 14, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 30 billion FCFA (45 million ‘euros) at the end of its issuance of 60-month treasury stimulus bonds (ODR). ODR issues are initiated by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO). They aim to allow the issuer to mobilize the savings of natural and legal persons in order to cover the financing needs of the Malian State budget as part of…

The former prime minister of the DR Congo, Senator Augustin Matata Ponyo, sued in the “Zairianized property” case, is once again free to move. The general prosecutor’s office at the Constitutional Court having canceled his house arrest on July 14, 2021, according to Me. Laurent Onyemba, his lawyer. On the grounds that “his flight is not to be feared”, Matata Ponyo returned to his home without being accompanied by the police after, on Tuesday July 13, 2021, a warrant from the prosecution at the Constitutional Court ordered that he be placed in custody. provisional arrest and under house arrest. “For…

The UK’s development finance institute, CDC Group, announced Thursday, July 15, the establishment of a US $ 50 million trade finance facility for Ecobank International (EBI SA), subsidiary of the Ecobank Group. According to a press release issued by the institution, this facility will stimulate the economic recovery of the African continent and is expected to generate between 70 and 140 million US dollars in additional trade per year. It will also provide systemic liquidity and support vital supply chains in African markets. The goal is to improve access to goods and services during the pandemic and to promote economic…

The project to exploit the Mbalam-Nabeba iron deposit torn between Cameroon (Mbalam) and Congo (Nebeba) should leave African soil to be transported to Europe, more precisely to England and France, where the Australian firm Sundance resources lodged a complaint against the two countries with the International Chamber of Commerce (ICC) in London and Paris. Regarding this affair, Sundance, which had a company in Cameroon, Cam Iron and another in Congo, Congo Iron, announced on July 14, 2021 that it had terminated the functions of the CEO of the company, Giulio Casello to whom d he other responsibilities within the group…

Former Nigerien President Mahamadou Issoufou who completed the project to create the Continental Free Trade Area (Zlecaf) will be celebrated this Thursday by his former peers in Accra, land of Kwame Nkrumah, for having promoted the economic integration of the continent. Accra, the capital of Ghana which houses the headquarters of Zlecaf, has erected for continental posterity a statue in honor of Mahamadou Issoufou, which will be officially unveiled during a tribute ceremony organized in his honor at the headquarters of secretariat of the Zlecaf. The ceremony will take place, according to our sources, in the presence of his successor…

The Africa Finance Corporation (AFC) announced, in a statement published on July 13, 2021 on its website, the accession of Guinea through its central bank, and Togo as its most recent shareholders, “thus strengthening its representation Pan-African ”. No information is filtered about the amounts invested. AFC, which claims an investment of 30 million euros in the Kekeli Efficient Power project, the first combined cycle gas-fired power plant in Togo, has also invested 150 million USD in the development of the Adétikope Industrial Platform (PIA ). In Guinea, figures show around USD 300 million invested in projects that aim to…

The World Bank announces the signing of a $ 200 million financing agreement from the International Development Association (IDA) for the Competitive Value Chains for Jobs and Economic Transformation (Pccet) Project. This partnership mobilizes the presence of the Director General of Operations of the World Bank, Axel van Trotsenburg, who inaugurates this Wednesday, July 14 in the company of the Minister of Health, Pierre Demba, a mobile clinic for vaccination against Covid-19 at the Forum of Adjamé. Three weeks ago, the Director of Operations of the World Bank for Côte d’Ivoire, Togo, Benin, Burkina Faso and Guinea, Coralie Gervers, signed…