Author: Ibrahima jr Dia

Despite the worsening Covid-19 pandemic, the South African holding company Discovery has reported satisfactory progress. This performance was driven in particular by the various insurance branches of the group. At the end of the fourth quarter of 2020 results released Thursday, February 25, Discovery Insure rose 43% to 107 million rand (7.4 million dollars). VitalityHealth and VitalityLife, meanwhile, rose 24% to R1313 million ($ 42.5 million) and 206% to R327 million ($ 22.6 million) respectively. Vitality Group rose 116% to R38 million ($ 2.6 million) while Discovery Invest fell 3% to R471 million ($ 32.6 million). Meanwhile, profit for the…

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The main indicators of Saham Assurance Maroc experienced an upward and downward trend in the 4th quarter of 2020, according to data communicated by the board of directors meeting on February 23, 2021. Overall turnover amounted to MAD 5,126 million ($ 575 million) as of December 31, 2020, down 5.5% compared to the end of 2019, mainly impacted by the decline in life business. In fact, the turnover of the life activity amounted to MAD 819 million ($ 92 million), a decline of 25.5% compared to the end of 2019, under the effect of the drop in collection of saving.…

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After opening agencies dedicated to young people and professionals, Societe Generale Maroc is at the bedside of companies. The bank recently inaugurated 3 “business center” branches dedicated to companies in Casablanca, Tangier and Agadir. This initiative is in line with the bank’s vision, which places customer satisfaction at the heart of its strategy. “Societe Generale continues to specialize its network to satisfy all of its customers. These new “Business Center” agencies reconcile proximity and professionalism for the benefit of our SME clients, by bringing together expertise with very high added value: international, cash management, leasing, guarantees, etc. ”, declared François…

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Portfolio management firms Apis Growth Fund II and JG Summit Holdings have awarded R1.6 billion ($ 108 million) in funding to South African digital bank TymeBank. This amount will essentially allow the digital entity to further expand its range of banking products and develop its portfolio. In its statement dated Tuesday, February 23, the bank said the investment is one of the largest foreign investments a fintech company has secured in South Africa. Both of these investors, TymeBank points out, are experienced in financial services in emerging markets. Apis is a private equity asset manager that supports growing financial services…

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The Port of Tangier Med in Morocco is now one of the top 25 container ports in the world, according to a ranking established by Alphaliner, the merchant marine newspaper. According to the recently published 2020 ranking of the best ports in the world, the Tanger Med port has gained 7 places compared to 2019 and becomes 24th in 2020. In 2018, it was ranked 48th. The document reveals that the Mediterranean port achieved a TEU traffic of 5,771,221 in 2020 against 4,801,710 in 2019, an increase of 20.2%. In addition, the ranking, which was based on TEU traffic, revealed…

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The United States, through its international development agency (USAID), has decided to support Senegal’s post-COVID-19 economic recovery plan. The Adjusted and Accelerated Priority Action Plan (PAP 2A) will receive financial support estimated at $ 600 million over a 5-year period. This new agreement was signed this Thursday, February 18 in Dakar, by the Senegalese Minister of Economy, Planning and Cooperation, Amadou HOTT, and Peter TRENCHARD, Director of USAID Senegal. This initiative mainly aims to support PAP2A, which aims to put Senegal back on its initial trajectory of strong growth before COVID-19. The state treasurer gave USAID special mention for having…

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While Africa as a whole remains enthusiastic about the appointment of Nigeria’s Okonjo-Iweala as head of the World Trade Organization (WTO), some experts are procrastinating. The question that comes up on everyone’s lips on the continent from Cairo to Cape Town, via Dakar, Abidjan, Accra and Lagos, is whether the election of Nigeria will be good for Africa. This in a particular context marked by the operationality of the African Continental Free Trade Area. The public’s eyes are currently on the first woman and the first African to occupy this strategic position. Who has not waited for his “100 days…

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Almost 6 weeks after losing his crown, Amazon boss Jeff Bezos is once again the richest man in the world. The reign of Tesla boss Elon Musk was short lived. According to the latest Bloomberg Billionaires Index ranking, Tesla stocks plunged into a stock market depression on Tuesday, February 16. Testa shares fell 2.4%, losing $ 4.6 billion of the owner’s fortune. This news has reversed the trend, thus dethroning the South African billionaire, Musk, from his first place. Jeff Bezos, who had held the title for more than three years until last month, reclaimed his No.1 position with a…

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Bank ABC of Algeria, a subsidiary of Arab Banking Corporation, proceeded on Tuesday, February 16, with the official inauguration of its first “Alburaq” counter dedicated to Islamic finance. This operation follows the obtaining of authorization from the Bank of Algeria (BA) to market its Islamic finance products. “There is a real demand for Islamic finance from corporate clients as well as individuals in Algeria. Our establishment will seize this new opportunity to expand into the country, “said Nadir Idir, Managing Director of Bank ABC Algeria. The official added that: “‘Elburaq’ is distinguished by an innovative organizational framework, guaranteeing the independence…

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Seven South African banks are included in the ranking of the 500 best institutions in the world recently published by Brand Finance, a global research group on banking brands. These are First National Bank (157th worldwide), Standard Bank (162nd), ABSA (164th), Nedbank (197th), Investec (199th), Capitec (300th) and Rand Merchant Bank (434th). Among them, only Standard Bank retains its 2020 rank, with the other six having fallen. Note that FNB, considered the best performing South African brand in the 2021 Brand Finance Banking 500 ranking, recorded an 18% drop in brand value to $ 1.3 billion. For its part, Standard…

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At the end of the third quarter of 2021, the web giant, Amazon, will have a new general manager. This is Andy Jassy, ​​the current boss of Amazon Web Services (AWS), one of the group’s top-grossing businesses. The announcement was made on Tuesday February 2 following the presentation of the group’s financial results. “It has become imperative to leave my role as CEO of Amazon and concentrate on my other projects. I will give my place to Andy Jassy who will bring new blood to the company, ”said Jeff Bezos, current Managing Director. “Right now, I see Amazon at its…

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Insurance group Britam Holdings has appointed Mohamed Said Karama as interim Chairman of the Board of Directors (PCA) to replace Walter Andrew Hollas, who has retired. “The Board welcomes the appointment of Mr. Karama and looks forward to benefiting from his leadership, skills, knowledge and experience,” Britam said in a statement released Tuesday, February 2, 2021. It was in April 2017 that the newly promoted joined the board as an independent non-executive director. The manager has served as a member of the investment and strategy and audit committees. Specialists in several fields including finance, Mr. Karama, worked in collaboration with…

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South African bank African Bank announced Monday, January 25, that its chief executive, Basani Maluleke, has resigned from the group to pursue other career opportunities. The bank noted that the outgoing CEO has made a significant contribution to the development of the structure in recent years. “I am extremely proud of what we have accomplished over the past three years and grateful for the dedication and hard work of our staff. It has been an honor to serve as CEO of African Bank during an important phase of the transformation of the organization, ”commented Maluleke. The bank said the board…

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A few hours before the inauguration ceremony of the new President of the United States (EU), Joe Biden, America risks experiencing an unprecedented scenario. The outgoing presidential couple, Donald Trump and Melania, will not welcome the Bidens to their new home, as is the tradition in the United States. A “historical fact” which has elicited many comments because since the founding of the United States (July 4, 1776) this phenomenon has never happened. According to some analysts, Trump’s attitude will forever be etched in the annals of American history. Since the 19th century, tradition dictates that the two presidents, entering…

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