Author: Albert Savana

The Regional Council for Public Savings and Financial Markets (Crepmf) has approved Global Capital as a management and intermediation company (SGI) operational in the regional financial market of UMOA. The second of its kind based in Mali, the financial institution with a capital of one billion CFA francs (about 1.8 million USD) is chaired by Alhassane Salif Sissoko, former boss of UBA Mali and Ecobank Burundi. This is a structure that was born from the initiative of Alhassane Sissoko, Chairman of the Board of Directors. This seasoned banker with recognized expertise in the Corporate Banking and Investment Banking businesses was…

InTouch, an aggregator of payment solutions and digital services in Africa created in Senegal in 2014, today announces a strategic merger with the CFAO group. The investment is made through a capital increase in which the CFAO group invests jointly with Mobility54, the investment vehicle created in partnership with Toyota Tsusho Corporation in 2019 and dedicated to the mobility sector on the continent. On the occasion of this transaction, TotalEnergies and Worldline, InTouch’s two historic partners, confirm their commitment to the pan-African startup. Through these new investors, In Touch, present in 10 countries, with 30,000 businesses among its clients, 1,000…

Niger signed on July 3, 2021, a financing agreement of 3.2 billion USD with the Moroccan group Ymmy Finance Holding for the realization of several industrial and infrastructure projects in Niamey, its capital. According to Omar Moumouni Dogari, central mayor of Niamey, this involves the construction of a new town in the capital on 1,050 hectares, the establishment of a free zone on an area of ​​200 ha and the construction of 36,960 housing units. social services including an agro-food complex. “If we combine with harmony and insight, the potential of our city with the capital of expertise of Moroccan…

In its new vision of “the united Ivory Coast”, the government intends to train 500,000 young people whose age varies between 15 and 25 years to revive the agricultural, animal and fishing economy. Switching from a production policy to that of added value is the new paradigm adopted by the government, which intends to enhance the image of producers by strengthening their capacity, especially those who will ensure the succession of Ivorian agriculture, through the acquisition of technologies, construction of research centers, conquest of markets. “From September 1, 2021, the first pilot projects will be set up in each of…

In Mali, Interpol announces an arrest warrant issued against Karim Keita, eldest son of former President Ibrahim Boubacar Keita on Monday, July 5. The case comes as part of an investigation into the 2016 disappearance of investigative journalist Birama Touré. According to information from a source who requested anonymity, it was an investigating judge from the tribunal de grande instance of Bamako commune IV who requested that Interpol’s “red notice” be disseminated. Everything seems to indicate that this is a sensitive issue, as an official of the Interpol representative office in the country, who also spoke on condition of anonymity,…

President Félix Tshisekedi of DR Congo appointed on July 5, 2021, Ms. Malangu Kabedi Mbuyi as governor of the Central Bank of Congo (BCC). The former official of the International Monetary Fund (IMF) succeeds Deogratias Mutombo Mwana Nyembo, himself appointed Chairman of the Board of Directors of the Insurance Regulatory Authority (ARCA). Appointed in May 2013 to the central bank by ex-president Joseph Kabila, the now ex-governor of the BCC was then the director of banking and markets operations of the issuing institute. The new vice-governors of the BCC are Dieudonné Fikiri and William Pambu. The directors are Thomas Batetele…

Previously announced in Kigali (Rwanda), the second edition of the Intra-African Trade Fair (IATF2021) will finally take place in Durban (South Africa), in the province of KwaZulu-Natal from November 15 to 21, 2021, by decision of the Advisory Board chaired by Olusegun Obasanjo, former President of the Federal Republic of Nigeria. “The relocation of IATF2021 to Durban saves us time on the schedule and will allow African countries and businesses, as part of their recovery strategy, to take full advantage of the trade fair, which is also an important element. of the implementation of the African Continental Free Trade Area…

The new Managing Director of Agro Food Industries, a subsidiary of the Sonoco group which manages among others Moulins d’Afrique, Nestlé Guinea and Les Boissons Salam, was officially invested in his new functions on July 3, 2021 in Conakry, in the industrial units. of the SONOCO group. He replaces Aboubacar Camara who now takes the lead of the sales department. Jean Ntambwe arrives at the head of the general management of Agro Food Industries Guinea with experience in Africa and Guinea. He notably held the position of Managing Director of Bonagui SA Guinea, a subsidiary of ECCBC; Director of Distribution…

Heads of companies operating in industry in Senegal complained about the difficult supply of raw materials and difficulties in debt collection in April 2021, according to the results of an opinion survey carried out by the Department of Forecasting and Economic Studies (DPEE) based in Dakar. The DPEE underlines in fact that the business leaders that its teams surveyed mostly mentioned the difficult supply of raw materials (40%) and the difficulties of debt collection (40%) as being the main factors limiting development. of the sector. Far behind these two factors, the survey of this structure identified supposedly unfair competition (24%)…

The Bank of Central African States (BEAC) announced, in a press release published on July 2, 2021, the suspension of the readjustments of the conditions of eligibility of guarantees for its refinancing operations. The measure was adopted on June 24, 2020 as part of the fight against the effects of the Covid-19 pandemic. The issuance institute also announced further “adjustments” to the stance of monetary policy implemented since March 2020 in support of the economy. This, after the meeting of the Monetary Policy Committee (MCP) held on June 28, 2021 by video conference under the chairmanship of Governor Abbas Mahamat…

Former South African President Jacob Zuma, who on June 29, 2021 was sentenced to 15 months in prison for contempt of justice, has just obtained from the same justice a review of his conviction at first instance. A transitory decision, certainly, but which serves as a milestone victory for the former president of the party in power, the African National Congress (ANC), which some already saw as inevitable imprisonment. A decision with enormous consequences, the main one of which protects Zuma from arraignment at least before July 12, as his previous conviction required. The Constitutional Court will examine the appeal…

The number of COVID-19 cases in Africa is increasing at an alarming rate, breaking all records set by previous peaks, reports the World Health Organization (WHO) in its July 3, 2021 bulletin. he international organization which, we remember, predicted the worst for the continent at the very beginning of the health crisis, “new variants are spreading like wildfire and fueling the third wave of the pandemic on the continent”. Over the past 6 weeks, the UN has seen an increase of 25% to a total of 202,000 cases during the week ending June 27, nine-tenths of the previous record of…

At the end of the first meeting of the Steering Committee of the Côte d’Ivoire-Ghana Cocoa Initiative, the Director General of the Coffee-Cocoa Council (Ccc), Yves Brahima Koné, announced the possibility of ending the sustainability program of chocolatiers to force them to pay the Drd, which requires the purchase of $ 400 / tonne. “Our will is that those who have programs with us here, continue to work in harmony. I think it’s unreasonable to come and do sustainability programs and get rich in some way and refuse to pay the planter. They are not consistent ”he argues. According to…

At the end of its 124th Board of Directors held on June 25, 2021, the West African Development Bank (BOAD) announced its decision to support the company Énergie du Mali (EDM SA), in charge of production, transport and distribution of electricity in the country, through financing of 8.5 billion CFA francs (over 15 million USD). The overall objective is to strengthen the transmission and distribution network of EDM-SA to avoid overloading of electrical works, and improve the security of electricity supply in Mali, according to the West African institution based in Lomé. In fact, this financial support aims to reinforce…

The net income of Bank Of Africa (BOA) Senegal, a subsidiary of the banking group of the same name, saw a strong increase of 79.68% in the first quarter of 2021 compared to the same period of 2020, announced the managers of this establishment. bank based in Dakar. This result stood at 3.304 billion FCFA as of March 31, 2021 against 1.839 billion FCFA as of March 31, 2020, an increase of 1.465 billion FCFA. As for the establishment’s net banking income, it increased by 22.88%, amounting to 8 billion FCFA against 6.454 billion FCFA as of March 31, 2020.…

The General Confederation of Businesses of Côte d’Ivoire (Cgeci) held its annual general meeting on Tuesday, June 29, marked by the renewal of some of the members of the Board of Directors and the membership of the Groupement des miniers de Côte of Ivory Coast (Gpmci). If jobs were contained in the private sector in Côte d’Ivoire, at the start of the pandemic, the president of the organization, Jean Marie Ackah, notes however that companies have suffered a drop in their turnover ranging from 20 to 25%. “The Confederation has thus mobilized to seek, in partnership with the public authorities,…

Nothing will be the same in the government securities market in the Central African Economic and Monetary Community (CEMAC). The regulator of the said sector, the Bank of Central African States (BEAC) has just ordered the banks and brokerage firms acting as Specialists in treasury securities (SVT) the compulsory application of the new specifications governing their activities. . The new regulatory framework entered into force on December 20, 2019 after its adoption by the Central African Monetary Union (UMAC) and its validation by the Monetary Policy Committee (CMP) and the BEAC Board of Directors as well as its approval by…

The limited company Filatures, tissages, sacs, Cote d’Ivoire (Filtisac) will pay its shareholders on July 30, 2021, for the 2020 financial year, an overall net dividend of FCFA 3.314 billion ($ 4.971 million), have announced the leaders of this company based in Abidjan. Compared to the 14,103,740 shares that make up the capital of Filtisac, this corresponds to 235 FCFA net dividend per share against 125 FCFA in 2019, an increase of 110 FCFA. The net dividend that will be paid to shareholders represents 37.6% of the nominal value of the share, which is 625 FCFA. At the end of…

Former South African President Jacob Zuma (79) was sentenced, Tuesday, June 29, 2021, to 15 months in prison by the Constitutional Court “by a majority of its members” for contempt of justice after his refusal to appear before an anti-corruption commission ordering him to surrender within “5 days”. “The Constitutional Court has no choice but to find that Mr. Zuma is guilty of contempt of justice,” said Judge Sisi Khampepe. After explaining that “this kind of reluctance and defiance is illegal and will be punished”, she stressed that she has “no choice but to imprison Mr. Zuma, in the hope…

The International Monetary Fund (IMF) has announced approval of a loan of approximately $ 1 billion to Uganda. Objective, support the post-Covid-19 recovery and increase household income for inclusive growth. According to the international organization, the Ugandan economy has been severely affected by the health crisis. The results obtained in ten years of struggle for poverty reduction have been canceled, indeed indicates the IMF, which also notes that the budgetary balances deteriorated, then the pressures on the external reserves intensified. However, notes the institution, a slight recovery is underway in some sectors, and economic growth is expected at 4.3% in…

The airline Air Belgium, in operation since 2018, announced the operationalization of its new link between Brussels and Mauritius from October 15, 2021. This link, according to the carrier, will be operated by Airbus A330neo. Two rotations per week are planned between Brussels-Zaventem and Port-Louis-Sir Seewoosagur Ramgoolam airport. The young Belgian company will be without competition on this mentioned route. And so does Mauritius, its very first African destination. “Mauritius is a very popular tourist destination in the Indian Ocean, and attracts many Belgian tourists every year, many of whom have a second residence on the island,” explains Air Belgium.…

The State of Cameroon has signed a memorandum of understanding with the company Bestway Finance Ltd and the company Austsino resources Group Ltd for the construction of a 540 km long railway line to link the locality of Mbalam, site of the ore exploitation. to link the port of Kribi where the construction of a multimodal mineral port with a capacity of over 100 million tonnes per year is planned. At an overall cost of CFAF 5,500 billion, around $ 10 billion, the project is expected to generate more than 20,000 direct and related jobs. The start-up phase planned for…

The annual meetings of the African Development Bank (AfDB) ended on June 25, 2021 on a note of hope. As part of the application of the African Continental Free Trade Area (Zlecaf), President Akinwumi Adesina announced that his institution and its partners are planning 230 projects valued at $ 208 billion in order to promote prospects operationalization. “We remain very committed to the success of the African Continental Free Trade Area. This is why the bank has granted 4.8 million dollars to support the establishment of the secretariat of the African Continental Free Trade Area, ”he said. Addressing the revival…

The shareholders of the Company for West Africa Studies and Works (SETAO), a subsidiary of the Bouygues group and specializing in consulting and engineering services in the field of Building and Public Works (BTP) , will receive on July 16, 2021, for fiscal year 2020, an overall net dividend of 889.056 million FCFA (1.333 million euros), announced the managers of this Abidjan-based company. Compared to the 13,440,000 shares that make up the company’s share capital, the net dividend per share is 66.15 FCFA. It should be noted that for several years, SETAO had not distributed dividends. This dividend to be…

This is the biggest “Exit Scam” in cryptocurrency history. Two young South African brothers, Ameer Cajee (20) and Raees Cajee (17), creators of the Africrypt platform, a cryptocurrency investment platform launched in 2019, are unreachable and untraceable. Their platform had not been functional since April when they hosted 69,000 bitcoins, or the equivalent of 3.6 billion USD in investment, Bloomberg reported on June 23, 2021. According to the Financial Sector Conduct Authority (FSCA), the South African regulator, the platform offered exceptionally high and unrealistic returns similar to those offered by illegal investment programs commonly known as Ponzi. Indeed, Africrypt promised…

The Moroccan Capital Market Authority (AMMC) announced on June 25, 2021, that it had approved the prospectus relating to the increase in the share capital of Attijariwafa bank (AWB) by total or partial operational conversion into shares of a party dividends for the 2020 financial year. According to the regulator, the maximum amount of the operation is 891,903,291 Moroccan dirhams (approximately 100 million USD) for a maximum of shares to be issued of 2,170,081 shares. The issue price is set at 411 dirhams, with a unit face value of 10 dirhams and an issue premium of 401 dirhams. Authorized by…

Tanzanian President Samia Suluhu Hassan announced on June 26, 2021, her government’s decision to restart talks on the implementation of several projects aimed at accelerating the country’s economic growth. Among them, that of the port of Bagamoyo, a seaside resort located 75 km north of Dar-es-Salaam, the economic capital. This is, in fact, a project to build a port and a special economic zone for which contracts have been signed since October 2015 with China Merchants Holdings International. But it was canceled by the administration of former President John Magufuli, in 2016, with the aim of renegotiating the contractual terms,…

The Ghanaian cocoa council (Cocoaboard) wants to anticipate the purchase of beans from planters by raising on the local and international capital market, USD 2 billion for the next cocoa campaign, revealed its boss, Ray Ankrah, who was at Abidjan on June 22, 2021 for the first meeting of the national committee of the Côte d’Ivoire Ghana Cocoa Initiative. This fundraising, which responds to the pre-financing of the 2021-2022 campaign, will allow producers to return directly to their fund after the direct sale of their beans to this Ghanaian institution. The operation is also a boon for subscribers who get…

The business climate indicator, which summarizes the opinions of business leaders on the economic situation in the countries of the West African Economic and Monetary Union (UEMOA), rose by 0.6 points during the month of April 2021 compared to the previous month, according to data from the Central Bank of West African States (BCEAO). This indicator stood at 102.2 against 101.6 in March 2021. According to the issuing body, “this change reflects the increase in order books and the improvement in the cash position of companies. >>. He adds that the index has risen in almost all WAEMU countries and…

The restrictions imposed by governments in the context of the fight against the spread of the coronavirus (Covid-19) which led to a drop in traffic, caused losses of 7.7 billion USD in the aviation sector in 2020 in Africa, d ‘after the International Air Transport Association (IATA). According to the organization’s regional vice president for Africa and the Middle East, Kamil Alawadi, 7 million employees have suffered as a result. In the process, 8 airlines went bankrupt in Africa, he said during a virtual press conference on Covid-19 and civil aviation organized by the Regional Office of the World Health…