Author: Albert Savana

Building on the success of the conference organized on Saturday, June 15, 2019 on the theme: “The New Silk Roads and Africa: the case of Côte d’Ivoire” – in partnership with the Houphouët-Boigny Foundation for Research in Peace, the district of Yamoussoukro and the National Polytechnic Institute Houphouët-Boigny (INPHB) – the Association for the Safeguarding and Promotion of Thought of El Hadj-Boubacar Gamby Sakho (ASPP-BGS) held on Friday, June 11 2021, a second conference on the theme: “Africa enters the space age: the case of Côte d’Ivoire”. The conference was held in the Ufr of Medical Sciences of the Houphouët-Boigny…

Nicknamed Rambo, the former prime minister and president of the Mauritian Republic, Sir Anerood Jugnauth (the great SAJ), died Thursday, June 3 at the age of 91 after 56 years of presence in the political life of this island country . Six times prime minister and president for 9 years, he was the antithesis of Putin’s interventionism for which democracy must give way to reason of state and the economy. Leader of the political opposition between 1976 and 1982 in a political party, the MMM, of Marxist obedience, he became Prime Minister for the first time in 1982, chaining four…

The overall situation in the countries of the Economic and Monetary Community of Central Africa (CEMAC) in the first half of 2020 is marked by a downward trend in the supply of credit observed since the second half of 2018, reports the Bank of States of Central Africa (BEAC). In a conjuncture note published on June 14, 2021 that Financial Afrik was able to consult, the Central Bank notes that the total amount of new loans put in place during this semester stood at 3,009 billion FCFA (5.5 billion) down 17.98% compared to the previous semester of 3,668 billion ($…

The Egyptian agency responsible for the development of medium, small and very small enterprises (MSMEDA) has partnered with Banque Misr to support Egyptian micro enterprises. The agreement provides for funding of 500 million Egyptian pounds, EGP (32 million USD) to companies. This agreement was signed this weekend by Tarek Shash, deputy executive director of MSMEDA, and Akef El Maghraby, vice-president of Banque Misr. “About 10,000 micro-loans will be granted throughout Egypt, with a maximum of EGP 250,000 (USD 16,043.04) per loan, depending on the production and marketing capacities of each company,” said Nevine Gamea. , Minister of Commerce and Industry…

The World Bank approved a loan of $ 250 million to Botswana on Monday (June 14th). This amount will be used to finance its development policy support loan program (DPL). This plan is also designed to support reforms aimed at strengthening private sector development and promoting green recovery. “The Covid-19 pandemic has placed a heavy burden on the country’s economy, its people and its businesses. With this operation, the World Bank will support government reforms to ensure that social spending reaches the poorest and helps Batswana people who are most affected by Covid-19, ”said the World Bank’s country director for…

The World Bank is granting USD 50 million to the Disarmament, Demobilization, Recovery, Community and Stabilization Program (P-DDRCS) in DR Congo, a financial support that President Félix-Antoine Tshisekedi welcomed on Sunday, June 13, 2021 in Goma, capital from the province of North Kivu. “This time, there is something concrete. I salute the support of the World Bank which gives us 50 million USD to start. It’s a process that will work. Because, we will take care of these militiamen from their release until their reintegration “, rejoiced the head of the Congolese state, who made the announcement. Pending the issuance…

Industrial production in the West African Economic and Monetary Union (UEMOA) recorded a moderate increase of 1.3% in 2020 after achieving 6.5% a year earlier, according to data from the Central Bank of the States of the United States. West Africa (BCEAO) based in Dakar. “This deceleration is imprinted by the 3.9% decline in production in industries in the food sector, in connection with a contraction of their production capacities and the disruption of distribution circuits”, indicates the institute of issue in its 2020 annual report. However, this deceleration was mitigated by an increase in production in the extractive industry…

Nigeria’s public debt stood at USD 87.24 billion in the first quarter of 2021 according to a report by the National Debt Management Office (DMO). That is an increase of 10% year-on-year. This development, it is said, can be explained, among other things, by the bond loans contracted by the Nigerian authorities on the local market in order to finance infrastructure projects over the period. Moreover, the stock is made up of 62.33% of domestic debt, and 37.67% of external debt. As of December 31, 2020, Nigeria’s public debt stood at USD 86.5 billion according to the DMO, up 20.13%…

The Moroccan group OCP announced the success of a bond issue on international markets for a total amount of US $ 1.5 billion, composed of two tranches of 10 and 30 years maturities, with respective coupons of 3.750% and 5.125%. The operation, entrusted to Barclay’s banks, BNP Paribas and JPMorgan, recorded a subscription of more than 4.7 times for a total of around 7 billion dollars for the two tranches, allowing a significant tightening of the rates for both. maturities. OCP was advised on this transaction by Rothschild & Co. The funds raised will be used to finance the second…

GDP at current price per capita in WAEMU increased from 675,000 FCFA to 735,000 FCFA (about 1,355 USD) between 2019 and 2020, according to estimates by the Central Bank of West African States (BCEAO). This represents an annual increase of around 9%. With a GDP / capita estimated at 463,600 FCFA in 2020 against 448,800 in 2019, Burkina Faso records the largest increase in the West African region with the CFA Franc in common (around +3.2), ahead of Benin (+1, 5) and Niger (+0.32). Those are the three economies that ended the year in positive territory out of the eight.…

CFAO Motors Côte d’Ivoire will pay its shareholders as of June 25, 2021, for the 2020 financial year, an overall net dividend of 4.017 billion FCFA (6.025 million euros), according to the draft resolution proposed by the Board of Directors for the Ordinary General Meeting to be held on June 15, 2021. It results from the proposal to allocate the result for fiscal year 2020 (of CFAF 3.779 billion, down 28.08% compared to 2019) gross dividends to be paid of CFAF 4.463 billion, i.e. a gross dividend per share. of 24.61 FCFA. After deducting the 10% tax on income from…

By announcing on June 10 the withdrawal of the Barkhane force as an External Operation (Opex) does Emmanuel Macron assume the possibility of a rise in Russia’s power in Mali, a country in his area of ​​influence? Launched in August 2014 to replace operations Serval in Mali and Epervier in Chad, this force of 5,100 men engaged in the fight against terrorism in five states (Burkina Faso, Mali, Niger, Chad and Mauritania) is falling back on an admission of failure . Not only were intra-community violence and jihadist expansion not contained in West Africa like the recent Solhan massacre in…

The home of the president of the Nigerien National Assembly, Seïni Oumarou, came under submachine gun fire on the night of Friday to Saturday June 12 in Niamey. One of the close guards was shot dead, security sources said. “On the night of Friday to Saturday, the home of the President of the National Assembly was attacked by two individuals on a motorcycle. They strafed the guards, killing one of them… They wanted to seize one of the guard vehicles, but there were no keys on it. They were able to flee, ”said a source. The Interior Ministry confirmed in…

The 2021 Amending Finance Bill (PLFR), reviewed by the Minister’s Council, is based on an increase in the state budget in order to deal with the health crisis linked to the coronavirus. The budget adopted on June 10 rises from CFAF 2,681 to 3,043 billion ($ 5.5 billion), an increase of 362 billion. Funding primarily intended for the implementation of the Transformation Acceleration Plan (PAT) and the response to Covid-19. The additional envelope explained the government is “mainly attributable to the issuance of government securities amounting to 495 billion CFA francs on the international financial market”. In addition to the…

Ahmed Salem El Arbi, executive of the National Industrial and Mining Company of Mauritania (Snim), is appointed head of the National Company for Agricultural and Works Developments (SNAAT). His appointment comes in a context marked by the declared will of the public authorities to engage the country on the path of food self-sufficiency or, failing that, to reduce the country’s dependence on foreign countries, in particular the country. Moroccan neighbor where all the fresh products (vegetables and fruits) sold in Mauritanian markets come from. Contributing to the realization of this ambition will be the main challenge for Ahmed Salem El…

By Rodrigue Fenelon Massala, senior reporter. According to exclusive information from Financial Afrik, Seif al-Islam Gadhafi, 48, is organizing with his teams away from the cameras to announce his comeback on the Libyan political scene. Putative dolphin of his father, the guide Muammar Gaddafi, killed in 2011, at the crest of the wave of the Arab Spring, Seif al-Islam Gadhafi has come a long way. Miraculously from Libyan jails at the cost of tribal alliances and counter-alliances, the most famous of Gaddafi’s sons has every intention of running in the next presidential election, scheduled for December 24, 2021, his relatives…

To find solutions to the challenges and economic prospects of the Democratic Republic of the Congo, the national president of the Federation of Enterprises of Congo (FEC), Albert Yuma Mulimbi, launched, Friday, June 11 in Kinshasa, a series of round tables on the major economic questions with the various socio-professional categories within the framework of the “Renaissance” project intended to transform this employers’ union into a federation open to the world. To students in Economics from the University of Kinshasa (UNIKIN) and the Protestant University of Congo (UPC) invited to the first Economic Round Table, Albert Yuma recalled that in…

The United Nations Development Program (UNDP) is receiving 40 million USD from Sweden for its program in the Democratic Republic of the Congo, particularly in the area of ​​restoring peace and fighting corruption. This is under a new multi-year partnership signed on June 10, 2021 in Kinshasa, by the Swedish Ambassador to the DRC and the Director of the UNDP regional office. This Swedish support to the UNDP is part of the implementation of the new 2020-2024 program cycle of the United Nations System Agency in the DRC amounted to USD 458 million. “This is a great day for us…

We Dream, We care, We Do, 3 common values ​​of this celebration 3 axes: Recognition, Solidarity, Transmission vis-à-vis our stakeholders A book intended for the younger generations, designed as a tool for the Transmission of an inspiring model of success Founded in 2000, Intelcia has succeeded in two decades in transforming itself from a Moroccan SME into a global player in outsourcing. Now present on 3 continents (Africa, Europe, America), Intelcia has diversified its businesses even as it continues to expand its global footprint. To mark these 20 years of great achievements, ambition, meetings, challenges taken up and sharing, Intelcia…

Wema Bank Plc wants to help thousands of Nigerian households as well as real estate players access housing. With this in mind, the Shelter-Afrique Board of Directors approved on Friday, June 11, a line of credit worth USD 9 million for a home loan to the Lagos-based bank. This credit facility (7-year maturity) will be used for subsequent loans to developers and home buyers who wish to purchase individual units on the basis of an owner-occupant and mortgage program assisted by employees. It will also be used to create mortgage loans for the purchase of affordable housing valued between 16…

The Autonomous Port of Douala (PAD) continues to manage the container terminal of the port of Douala regardless of court decisions which rather recognize the legitimacy of this activity in the AMPT-Bolloré consortium. Despite these legal setbacks, of which it is the seventh in a row, the PAD “intends to exercise legal remedies against this decision and wishes to reassure public opinion that it has no consequences for the peaceful operation of the Terminal. containers and the pursuit of Régie activities, which is now a national source of pride, ”we say. However, the decision rendered on June 3, 2021 by…

The managing director of Nsia Bank, Léonce Yacé, affirms that the envelope devoted by his bank to real estate developers amounted to 223 billion CFA francs for 22 real estate developers. In this lot, four promoters were downgraded for bad debts valued at 23 billion CFA francs. It was during a seminar on the theme “Housing issues in Côte d’Ivoire: role of the CDC-CI”, organized on June 10, 2021 by the Caisse des Dépôts et Consignations de Côte d’Ivoire (Cdc- THIS). Despite the 20,000 housing units built by the government, the housing deficit in stock stood at 600,000 two years…

Built on an area of ​​1,100 hectares, the International Academy for the fight against terrorism (Ailct), located in Ababri, in Jacqueville (on the Ivorian coast), was inaugurated this Thursday, June 10 by the Ivorian authorities in the presence of the French minister of Europe and Foreign Affairs, Jean-Yves Le Drian. Defeating terrorism by all means and allowing a life of peace, security, progress and freedom, is the wish expressed by the Ivorian government in common agreement with France, which hailed this infrastructure, a showcase of Africa in strengthening human capital, particularly in the security sector. “The Academy is an essential…

French President Emmanuel Macron announced that his country would undergo a “profound transformation” of its military presence in the Sahel. As well as the end of Operation Barkhane launched in 2014 and which aims to fight against armed Salafist jihadist groups throughout the region. Announced this Thursday evening on the sidelines of a press conference for the next G7 by Emmanuel Macron, France is opting for “the end of Operation Barkhane” in the Sahel. Indeed, explained the French president, the disengagement of the French army will be gradual, and the soldiers will remain for many years on the spot to…

A few days apart, two immediate contexts point to France’s loss of influence in Africa, which is more in its former “precinct”. In the Central African Republic, the rise in power of Russia noticeable since 2016 has just pushed Paris to freeze its military cooperation. A rare decision usually taken as a consequence of highly antidemocratic or liberticidal contexts. This was the case in the early 1990s with regard to Togo after the bloody violence that accompanied the opening of this country to pluralism. Officially, this freeze echoes the atmosphere deemed increasingly anti-French in Bangui, a campaign directly controlled by…

Guinea-Bissau and Togo present a high risk of external debt distress for total debt, indicates their common central bank (BCEAO) in its 2020 annual report. Which specifies that the latest debt sustainability analyzes show that the risks of debt distress of this type are moderate for all other WAEMU member states. According to the institution, the ratio of outstanding external debt to GDP is estimated at 29% in 2019 for all 8 countries in the region, against 26.5% a year earlier. It “stood at 24.0% in 2019 against 19.4% in 2018 in Benin, 22.8% against 21.4% in Burkina Faso, 25.9%…

The State of Burkina Faso, through its General Directorate of the Treasury and Public Accounts, raised on June 9, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 32.240 billion FCFA (48.360 million d ‘euros) at the end of its issue of assimilable treasury bonds (BAT) with a maturity of 364 days, organized in partnership with the UMOA-Titre agency based in Dakar. This fundraising is part of the Burkinabé government’s strategy to cover the financing needs of the state budget. For the second quarter of 2021, the intentions of issuing public securities expressed by…

Absa Bank Limited (Absa), with several subsidiaries in Africa, is committed to providing financing solutions to micro, small and medium enterprises (MSMEs) and households in sub-Saharan Africa. This through microfinance institutions and non-bank financial institutions (MFIs and NBFI). With this in mind, CDC Group, the UK’s development finance institution (DFI) and impact investor, announced earlier this week a new USD 50 million risk-sharing facility with Absa Bank Limited ( Absa). This MFI and NBFI risk-sharing facility is the first of its kind for CDC – supporting lending to these institutions (through credit risk mitigation) and enabling them to better serve…

Kingdom Bank announced on Thursday (June 10th) that it expects to post a pre-tax profit of at least 300 million shilling (2.7 million USD) for this fiscal year 2021. This performance will be mainly driven by a resumption of confidence after its acquisition by Co-operative Bank. In August 2020, the Co-operative Bank of Kenya acquired a 90% stake in Jamii Bora at 1 billion shillings (9.2 million USD). Subsequently, the bank set up a new team. management and renamed the Level III lender to Kingdom Bank. If the performance is achieved, it will be the first profit – also the…

The 2020 financial year of Air Liquide Côte d’Ivoire, a subsidiary of the French multinational Air Liquide International and specializing in the supply of industrial and medical gases, was marked by a record loss of 2.462 billion FCFA (3.694 million euros), announced the leaders of this Abidjan-based company. For three years, Air Liquide Côte d’Ivoire’s accounts have been in a zone of turbulence with successive losses of -990.908 million FCFA in 2017, -81.836 million FCFA in 2018 and -26.523 million FCFA in 2019. Yet , observers who follow the evolution of this company expected, in the absence of a return…