Author: Ibrahima jr Dia

The Amadeus Institute on Wednesday 13 November awarded Senegalese President Macky Sall the Grand Prix MEDays 2019 after the opening of the 12th edition of the MEDays Forum. A distinction that reflects the recognition of continental leadership with a mode of governance including the emerging Senegal plan (PSE), which has become a reference model in Africa. “I accept the MEDAYS 2019 grand prize with pleasure. I certainly see the recognition of the efforts already made, but above all an encouragement to continue these efforts as the challenges are still numerous in our countries and on our African continent,” he said.…

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The insurance company, Wafa Assurance, has announced that it has finalized the acquisition of the shares of Pro Assur SA, operating in non-life in Cameroon, up to 65%. In a statement, from Wednesday, November 13, the institution said that “this operation carried out through an acquisition of shares and a capital increase, came after obtaining various regulatory approvals from regulators in Morocco and in Cameroon “. This initiative, the statement said, will also allow the insurer to strengthen its presence in the main markets of the Inter-African Conference of Insurance Markets (CIMA), consisting of Côte d’Ivoire, Cameroon and Senegal. These…

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Faced with financial difficulties, the South African national airline South African Airways (SAA) has embarked on a restructuring plan to deal with the crisis. In a statement issued Monday, November 11, management announced that it will proceed to the elimination of 18% of its total workforce, or 944 of the 5149 employees. “We urgently need to address the deficit situation that has persisted in recent years,” said CEO Zuks Ramasia. And to add, “this is why we are in the process of restructuring that we need to ensure the effective implementation of the long-term accelerated recovery strategy.” The company has…

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DP World will build a business park that will initially cover an area of ​​50 hectares in the port city of Walvis Bay (Namibia). A preliminary agreement was signed between DP World, Dubai and the Nara-Namib Free Economic Zone, announced Tuesday, November 12, DP in a statement. According to the same source, “this park will be a” free economic zone “for industry and logistics. It could eventually spread over 1,500 hectares. DP also announced that it wants to reach a final agreement with Nara Namib in the second quarter of 2020. The port of Walvis Bay is an important logistics…

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Activa International Insurance Ghana (AIIG), a subsidiary of Cameroon’s insurance group Activa, along with the International Finance Corporation (IFC), has launched a women’s insurance program this weekend. The main objective of this initiative is to enable 2 million Ghanaian women to have insurance coverage (legal and financial support required). “As the leading provider of non-life insurance in Ghana, AIIG has realized that women are the lifeline of the Ghanaian economy,” said Solomon Lartey, chief executive of the insurance company. For her part, Marieme Esther Dassanou, head of IFC’s Global Women’s Program and head of the insurance program for women around…

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From our special envoy in Sochi, Ibrahima Dia Junior The strong statement of Nikita Dusakov, CEO of Rusian Export Center (REC), after the second day of the Russia-Africa Economic Forum, held on October 24 in Sochi (Russia), sounds like a conclusion to this intense summit that has seen one of the most industrialized nations in the world meet a continent that is still struggling to make a propeller. “Russia is in a logic of helping Africa to face two of these major challenges namely the transformation of its materials on the spot and its process of industrialization”, said this member…

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In line with the projected schedule of issues of government bonds, Cameroon will once again seek the securities market of the Bank of Central African States (Beac). In a press release on Tuesday (October 15th), the parent ministry said that Yaoundé will raise an aggregate amount of CFAF 90 billion in the regional securities market in the fourth quarter of 2019. First, Cameroon will issue 20 billion treasury bonds assimilable (BTA), a maturity of 26 weeks in the current October. And by assimilable Treasury bonds (OTA) with a maturity of 2 years of an envelope of 40 billion FCFA. Then,…

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Aware of the role it must play, the Africa-Asian Federation of Insurance and Reinsurance (FAIR) wants greater market liberalization. The theme of the 26th joint conference, which opens from 23 to 25 September in Marrakesh, is illustrative: “the new economic barriers in the Afro-Asian insurance markets”. The objective of this biennial meeting is to create a platform of innovative solutions to better support the insurance and reinsurance market in both continents. For 3 days, nearly 900 participants from different insurance companies from Africa, Asia, Europe, the Middle East … will discuss on this subject. Stakeholders will also address other key…

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After its performance in the first half of 2019, the tourism sector in Tunisia is in a new dynamic of growth. According to the Tunisian Central Bank (BCT), tourism receipts rose 2% on September 10, or 4 billion dinars (DT), previously against 4, 09 billion at that date. Revenues, she says, have increased in absolute value by 1, 3 billion and +46, 3% in relative value, compared to the same period last year. The context remains favorable to Tunisian tourism, which continues to enjoy good prospects. These performances are due to the increase in the number of tourists but also…

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Placed in receivership since September 2, the French airline, Aigle Azur, closely interested the Algerian national airline (Air Algeria). Indeed, Air Algérie’s communications officer, Amine Andaloussi, suggested during a recent outing that his structure could take over Aigle Azur. And that this option will depend on the preliminary study of the file. Shaken by a financial crisis for several months, Aigle Azur which 3% of the staff is Algerian (350 out of a workforce of 1150) is on the brink. In a statement, the French Directorate General of Civil Aviation (DGAC) said that: “following cash difficulties encountered by the company…

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Global Future Councils of the World Economic Forum have indicated that Namibia and Botswana are willing to jointly build a 5,000 MW mega solar project in southern Africa. The main objective of this initiative is to satisfy the internal demand for energy but also to supply the region. It was on the sidelines of the 28th World Economic Forum on Africa (4-6 September in Cape Town, South Africa) that both countries expressed this wish. Thus, this project will be constituted in 3 phases. The first will concern a plant with a capacity of between 300 and 500 MW to meet…

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The National Bank of Ethiopia (NBE), may apply a fully flexible exchange rate regime over the next three years, announced Friday, September 6, the governor of BNE, Yinager Dessie. The governor is formal, Ethiopia which has experienced a growth momentum since the last decade (10% growth rate on average) will imperatively revise its exchange rate regime. The country, he says, will opt for the foreign exchange market (confrontation of supply and demand for money) to stabilize the level of its currency, deemed overvalued by the IMF. “There is no doubt that we should slowly move to the type of forex…

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After obtaining the approval of the Moroccan Capital Market Authority (AMMC) for the increase of its capital for the first operation, the BMCE Bank Of Africa Group is looking into its second phase. On the sidelines of its recent extraordinary general meeting (AGM), the agenda was the second capital increase reserved for the British Commonwealth Development Group (CDC) for the equivalent of 200 million dollars. that is 1.9 billion dirhams. The first has been finalized for 1.89 billion dirhams. It was conducted in two tranches (one devoted to the conversion of dividends into shares and the other reserved for increasing…

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The Democratic Republic of Congo (DRC) is the country that has received most remittances in the Economic Community of Central African States (ECCAS) in 2018. Congolese migrants sent $ 1.405 billion (833.4 billion CFA francs), or 69 percent of the global sum of US $ 2.036 billion (about CFAF 1.186 billion). This is what emerges from the report, called “Overview of Remittances in ECCAS Countries”, which reached the press on Thursday 5 September. According to the document, Cameroon comes second with $ 345 million (17%), or 201 billion FCFA. It is followed by Rwanda, 230 million dollars (11.3%), Burundi 36…

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