Author: Mamadou Sy

No more physical order requirement to “trade” on the Zimbabwe Stock Exchange. Since Friday, individuals and legal entities can transact from a minimum of ZWL $ 500, or $ 5, on the platform (www. Zsedirect.co.zw) and via an application which is available shortly. According to ZSE CEO Justin Bgoni, individuals will have access to all platforms except the “futures” compartment reserved for authorized intermediaries. However, for now, access to the platform remains the exclusive domain of nationals with their valid identity cards. Likewise, only Zimbabwean banks will be granted access to the platform initially, which considerably reduces the reach of…

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The Naira came under more pressure in the parallel market, trading at 467 against the dollar, after the Central Bank of Nigeria (CBN) cut interest rates by 100 bps to 11.5%, in a surprise move aimed at stimulating the recovery after the drop in oil prices at the start of the year and the effects of the coronavirus. A memo shared with the banks signaling the growing scarcity of dollars in the market, suggests the possibility of further restrictions to limit currency purchases, as sales by Bureau de Change are clearly insufficient to meet demand. “With such restrictions on the…

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Despite his escapades – he had called African countries shitty countries – his unilateral decisions (threatening Rwanda to withdraw him from AGOA if it banned American thrift stores), his theatrical sulks (as when ‘he refused to receive the Congolese President, Denis Sassou Nguesso), of his diatribes against Nelson Mandela, Donald Trump does have a “vision” for Africa. But make no mistake, the “Prosper Africa” initiative is not a philanthropy. The main objective of the said initiative is to help American companies “wishing to do business in Africa”. Above all, no question of official development assistance (ODA), assistance that the tenant…

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Rabat successfully issued Thursday, September 24, a bond on the international financial market of 1 billion euros in two tranches of 500 million euros each. The first, with a maturity of 5.5 years, has a price of 99.374% and a rate of return of 1.495%. The 2nd tranche, with a 10-year maturity, has a price of 98.434% and a rate of return of 2.176%, ie a coupon of 2%. This issue takes place in a context marked by uncertainties linked to the evolution of the Covid-19 pandemic and its impact on the credit quality of issuers. It was popular with…

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After the management and intermediation company (SGI) BOA Capital Securities, the Regional Council for Public Savings and Financial Markets (CREPMF), through its decision N ° CREPMF / 2020/183 signed on September 17, 2020 by its president Mamadou Ndiaye, authorized the Senegalese SGI CGF Bourse to exercise the activity of online stock exchange on the regional financial market of the West African Monetary Union (WAMU). The Online Stock Exchange service was officially launched on September 16, 2020 by Stock Exchange officials Régionale des Valeurs Mobilières (BRVM) with the managers of SGI BOA Capital Securities, following the 2014-2021 strategic plan of the…

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A mixed delegation from DR Congo (Presidency of the Republic, Ministry of Industry, Industry Promotion Fund and other state structures), which arrived in Cairo on September 15, 2020, signed two action plans with two Egyptian companies, Saturday September 19, 2020. The signing of these plans, which relate to the finalization of technical studies for the development of Grand Kasai, took place between three parties. They are the Director General of the FPI, Patrice Kitebi also contracting authority for the DRC, the two Egyptian companies Hassan Allam and Samcrete (responsible for carrying out the engineering works on the ground) as well…

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Since joining the Government as Minister of Defense under François Hollande then Minister of Foreign Affairs under Emmanuel Macron, Jean-Yves Le Drian, the current boss of the Quai d’Orsay, by his deeds and his feats of arms on the continent, recalls De Gaulle’s “Monsieur Africa”, the famous Jacques Focart. Mythical architect of French networks in Africa, Jacques Foccart was, from 1959 to 1974, advisor to General de Gaulles, liege man of Georges Pompidou, essential advisor to Valéry Giscard d’Estaing for African and Malagasy affairs . During all these decades, Foccart has built the foundations and laid the foundations for the…

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Tunisia: New Body Line distributes 1.062 million dinars in dividends to its shareholders New Body Line (NBL), which specializes in the design, development, knitting, manufacture and marketing of clothing, will distribute to its shareholders on September 24, 2020, for the 2019 financial year, an overall net dividend of 1.062 million dinars (411,749 euros), announced the leaders of this company based in Mahdia located 200 km south of Tunis. Compared to the 4,250,400 shares that make up the capital of this limited company, this corresponds to a dividend per share of 0.250 dinar, or 25% of the nominal value of the…

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The Central Bank of Algeria has a new governor in the person of Rosthom Fadli who will act as it. The new governor replaces Ayman Ben Abdurrahman, appointed finance minister last June during the last cabinet reshuffle. The announcement was made by President Abdelmadjid Tebboune, who also ordered the opening of Algerian banks in Europe and Africa to allow expatriates to deposit, transfer funds and boost trade. Rosthom Fadli had previously held the post of Vice-Governor of the Central Bank. The new governor has spent most of his career at the Central Bank of Algeria, notably within one of the…

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Banque Centrale Populaire group (BCP) published its financial results at the end of the second half of 2020 on Tuesday, September 22, on the Casablanca stock exchange. Thus, the main indicator showed green, despite the lockdown of populations to stem the spread of the COVID-19 pandemic in Morocco.    Despite this context, the consolidated Net Banking Income improved by 13.9% to 10 billion Dirhams (around 1 billion euros). This increase is mainly explained by the combined effect of the change in scope following the integration of the new African subsidiaries acquired at the end of December 2019. As for the…

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The Angolan government has officially notified its intention to join the 54 countries that already apply the Standard Initiative for Extractive Industries Transparency (EITI). In a letter to the Chairman of the EITI Board, dated September 14, 2020, the Minister of Mineral, Oil and Gas Resources, Diamantino Pedro Azevedo, described the steps already taken for the implementation of the EITI. EITI. These include the signing of Presidential Decree 117/20, appointing the minister as chair of the National EITI Coordinating Committee, and a public statement announcing the government’s commitment to join the EITI. the initiative. The announcement of Angola’s intention to…

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Navigating against the doxa, Professor Didier Raoult of the IHU Méditerranée Infection in Marseille continues to castigate French public policies in the face of the Covid-19 pandemic. “You have up to 44% false positives when you check people who have tested positive elsewhere.” The Marseille doctor calls for a harmonization of the results of PCR tests. Remaining on his starting positions, Didier Raoult believes that the Covid-19 pandemic has not upset mortality in France, a position that contrasts with what some call “fear marketing” which led to the confinement of half of humanity based on a hypothesis put forward by…

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The Senegalese economy is expected to contract this year due to disruptions in economic activity caused by the COVID-19 pandemic, notes the IMF mission. In the eyes of the services of the International Monetary Fund (IMF), led by Ms. Corinne Deléchat, on a virtual mission from September 9 to 18, 2020 to update macroeconomic projections, and to examine the execution of the 2020 amending finance law and the finance bill for the year 2021, “a recovery is underway, but its pace and extent remain very uncertain”. “The Senegalese economy has been hit hard by the COVID-19 pandemic: it is now…

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The Ghana Infrastructure Investment Fund (GIIF) is a Ghanaian sovereign wealth fund whose mandate is to mobilize, manage, coordinate and provide financial resources for investment in a diverse portfolio of infrastructure projects in Ghana for national development. At the head of this institution, Solomon Asamoah, answered our questions. What is the initiative behind the creation of GIIF? The Ghana Infrastructure Investment Fund (GIIF) is an investment vehicle established with $ 325 million in equity from the Government of Ghana with a mandate to develop, invest and manage infrastructure assets in Ghana for the national development, in a cost-effective and sustainable…

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