Author: Ibrahima jr Dia

South African MTN, Africa’s largest mobile operator, said it has closed four outlets and service centers in Nigeria. This decision follows the xenophobic violence in South Africa, targeting foreign nationals including Nigerians. In a statement received by the press on Wednesday, 4 September, the operator said that this measure was taken for reasons of caution. “While we remain committed to providing uninterrupted service, the safety of our customers, our staff and our partners is our primary concern,” the document said. The South African group also said it is working hard with the relevant authorities and other stakeholders to stabilize the…

Cameroon will solicit investors in the financial securities market of the Bank of Central African States (Beac). In a statement issued on August 26, Cameroon said it will issue, on August 28, by auction, the Assimilable Treasury Bonds of a total amount of 30 billion FCFA. According to the same source, the maturity period will be 26 weeks (from 28 August to 28 February 2020) with a nominal value of 1,000 FCFA. Interest is deducted from the face value of the vouchers. Subscriptions will be made to banks and financial institutions of CEMAC from Wednesday, August 28, 2019 before 09:00…

The South African Standard Bank Group Ltd. announced Monday, August 26, its entry into the capital of Nomanini, up to $ 4 million. Through this digital platform, the first South African intends to support the banking of the informal sector (merchants, small retailers) in the country. Later, Standard Bank, with technological assistance from Nomanini, is also planning to expand its services in 14 African countries by 2021. “The bank will look to help these retailers provide financial services, such as cash deposits and withdrawals, to their customers,” said Adrian Vermooten, Head of Digital Services, Standard Bank Africa. For Vahid Monadjem,…

The Tanzanian Central Bank (BCT) gave banks and financial institutions three months to comply with the rules for the local establishment of operational data centers. a press release on Sunday, August 25, signed by the “Bank of Banks” said that any financial institution and credit that does not apply this new measure is subject to heavy fines. This sanction can reach up to 5 billion Tanzanian shillings (2.18 million dollars). Speaking on this issue, the deputy central bank governor for financial stability, Bernard Kibesse, pointed out that most banks do not attach importance to setting up a primary data center…

The South African net giant, Naspers, has announced that it will enter the Amsterdam Stock Exchange on September 11th. Indeed, the South African group will list its subsidiary Prosus (international assets of the specialist in media and technology) on the market. This subsidiary holds in particular a stake of more than 30% in the Chinese giant Tencent. In a press release on Monday, August 26, the company said it intends to value the offer to 100 billion dollars. Once completed, the company will be the third capitalization on the Amsterdam Stock Exchange, after Shell and Unilever, and the largest Internet…

Douala will acquire its first five-star hotel of the American group Radisson blu in the first quarter of 2021. Thus, emphasizes, the project manager Radisson Blu hotel Douala, Rémi Delattre, this luxury hotel, will enhance the potential of tourism in this locality, which is an economic hub in Central Africa. The technical sheet of this jewel reveals that it will have a capacity of 180 standard rooms, as well as studios and apartments of one and two rooms. Result of a public-private partnership (PPP) between the company Sky Towers Hospitality and the National Social Insurance Fund (CNPS), this project will…

After more than 7 months of gestation, the first government of President Félix Tshisekedi was announced Monday, August 26, 2019. Constituted by a coalition of political parties, including the Common Front for Congo (FCC), pro-Kabila platform and the Cap for Change (Cach), the team led by the prime minister, Sylvestre Ilunga Ilunkamba, includes 66 ministers. Among these personalities, 42 are from the ranks of the Common Front for Congo (FCC), the platform pro-kabila, a percentage of 64%. And on the side of the cap for change (Cach) President Felix Tshisekedi, there are 23, or 35% of the total number. The…

The last bond issued by Ghana broke a sad record. The country of President Nana Akufo-Addo issued Thursday, August 22, on the bond market of the country, the equivalent of 162.1 million Cedis ($ 30 million). Bonds were traded with a 20.2% return for a 20-year maturity. In comparison, the States of the Economic and Monetary Union raise money from the WAMU-Titres window at rates of 5 to 6% for maturities that are indeed between 5 and 7 years. In the BRVM bond market, which is less crowded than in the past, bonds issued by the same countries are moving…

Ranked in 2016 by Forbes among the 30 young people under 30 to follow, Obinwanne Okeke, 31, has just been arrested in the United States for fraud over $ 11 million. The founder of Invictus has been remanded in custody. While waiting to have the last word of this incredible story, force is to note, the image of the young thirty, holder of a bachelor’s degree and a master’s degree in international relations and fight against terrorism (with distinction) of the Monash University, Australia, has cracked. Known for founding the group Invictus, which has interests in real estate, oil, gas…

After several years marked by the circulation of quasi-currencies (substitutes close to the currency) to make up for the lack of liquidity, the central bank of Zimbabwe will replace its assets. Indeed, the institution will soon release a new amount of local currency. The announcement was made Monday, Aug. 19 by officials of the Zimbabwean Ministry of Economy and Finance. According to officials of the ministry, their department will first compile data on the country’s reserves before deciding on the amount of currency that will be used to support the new currency. Speaking recently on one of his trips, Zimbabwean…

The former director of the United Nations Food Organization (FAO), Jaques Diouf, died Saturday (August 17th) in France at the age of 81 (1938/2019). A tireless advocate of the fight against poverty and social inequality in the world, the first African to be elected director of the UN agency in charge of food marked his passage at the level of the institution. During his 17 years at the head of the FAO (1994/2011), the native of Saint-Louis had as his sole credo the significant reduction in the proportion of people suffering from extreme poverty and hunger in the world. Graduate…

China National Offshore Oil Corp. (CNOOC), has acquired 55, 55% stake in Australian group FAR Limited in the oil licenses of the two blocks (Sinapa and Esperanca), located off the Guinea Bissau coast. In a press release on Wednesday, August 7, the Australian group FAR Limited, said it approved the request to transfer the stake. According to the same source, “the acquisition concerns licenses held by the Swedish Svenska Petroleum Exploration GB, whose shares will be reduced to 23.03% in favor of the subsidiary of the Chinese group in Africa, which becomes the majority shareholder of the project. “. After…

The subsidiary of the Dangote Cement Group recorded a drop in sales in the first half of 2019 in Cameroon. According to the company’s statistics, which reached the press on Wednesday 7 August, sales fell by 7.1% in the first half of 2019, ie 0.6 million tonnes of cement sold compared to 0.64 million in the same period of 2018. This underperformance, the company says, is due mainly to persistent security problems in the North West and South West regions. “The market share was 40% in the first half of 2019. And the overall supply of cement was 1.5 million…

Insurance companies in the Interafrican Insurance Market Area (CIMA) are more than determined to support African SMEs / SMIs in the face of insolvency risk. Indeed, the International Insurance Institute (IIA) has urged African companies to use the credit insurance-surety product to settle the solvency of their customers. It is on the sidelines of a seminar, held since Monday, August 5, with the major theme: “credit insurance-guarantee: typology of policies, pricing principles and claims management” that the IIA presented this instrument to the actors of the insurance of the CIMA. The main objective of this meeting is to make this…

The Burkinabé Ministry of Culture and Tourism in collaboration with industry players (hoteliers, investors …) wants to give a boost to domestic tourism, according to Tuesday, August 7 from government sources. Thus, the authorities will proceed to lowering hotel rates by 25% until 30 September 2019 for nationals. The initiative should allow citizens to frequent hotels, suggested Pierre Zoungrana, president of the association of owners of hotels and restaurants in Burkina Faso. According to official statistics, tourism activity increased by 5.4% over the 2017/2018 period.

Senegal is in mourning. The Secretary General of the Socialist Party (Ps) also president of the High Council of Territorial Communities (HCCT), died Monday, July 15 in Bordeaux, following a long illness. He had been enthroned by Abdou Diouf who handed him the reins of this old party, the party of Senghor. Deceased at the age of 72, this civilian administrator of training (graduated from the National School of Administration), has marked the Senegalese political landscape. The heir of Abdou Diouf and Senghor has served more than 40 years in the Senegalese administration. A seasoned statesman, he successively held the…

The Islamic Bank of Senegal (BIS) has pledged full entry into the digital world and is in tune with the demands of the market. With this in mind, BIS proceeded, Friday, July 12, the official launch of its new mobile application called “Tamweel Touch”. The initiative aims essentially to bring the bank closer to its customers, but also to enable them to carry out transactions in real time (24/7). For the general director of the BIS, Oumar Mbodj, “the mobile version also makes it possible to pay bills, to buy telephone credits and to carry out operations of transfers of…

After being commissioned at the end of June (28 June), Tangier Med port authorities are more than determined to share their experiences with their African counterparts. With this in mind, Tanger Med hosted the first African Ports Forum from July 4 to 5. This gathering brought together nearly a dozen national and international experts and institutions. This meeting allowed to set up a “Task Force” in the service of the port competitiveness of the African continent. In a statement, the complex said that “at the initiative of Tangier Med” a task force with a digital platform has been created, which…

After almost 7 months of negotiations, Guinea officially became a shareholder of the Asian Investment Bank for Infrastructure (AIIB). Indeed, the Guinean parliamentarians recently gave them the green light. Thus, the State must subscribe to 10 shares with a nominal value of US $ 100,000, an aggregate amount of $ 1 million, payable in five installments. For MP Alpha Mohammed Diallo, this membership will allow Guinea to take advantage of the opportunities offered by this structure to finance its infrastructure projects, mainly for the socio-economic development of the country. According to the parliamentarian, the first deadline will be July 12.…

The 33rd Extraordinary Summit of the African Union (AU) opened Thursday (July 4th) in Niamey where around 4,000 participants are expected. This continental rendez-vous (from July 4th to 8th) has the distinction of seeing the Continental Free Trade Area (Zlec) enter into force informally even before the assizes. Of the 44 signatory countries, 22 have already ratified the Continental Free Trade Agreement (the minimum threshold required for the entry into force of the African market). Not to mention Nigeria, the first African economy that pledged to sign and initial this agreement on July 7 after the summit. In this dynamic,…

The Congolese Association of Banks (ACB) under the leadership of the United States is committed to fight against money laundering. In a statement, reached the press, Thursday, July 4, the body said: “US state departments and Treasury asked banks operating in the DRC” to put in place effective sanctions against money laundering capital, the financing of terrorism and against corruption “. On this basis, the ACB urged “every bank to raise the level of its anti-money laundering system. Rigorous monitoring of the accounts of politically exposed persons “. For the president of the ACB, Yves Cuypers, foreign banks have refused…

Senegal’s national electricity company (SENELEC) has a new director general (DG). It is Pope Demba Bitteye, previously permanent secretary for energy at the level of the Ministry of Energy and Renewable Energy Development. This decision was taken on Wednesday, April 24, at the end of the cabinet. The now new DG replaces the position Makhtar Cissé at the helm of the company since July 2015. The latter has carried high the torches of the Senelec with remarkable performances. In 2016, the company signals for the first time go green. The company records a profit up 150% to 30 billion CFA…

After several years marked by a dissonance between the shareholders, Tunisia Telecom subsidiary in Mauritania, MATTEL, has a new CEO (CEO). This is Elyés Ben Sassi, previously CEO of Topnet, also a subsidiary of Tunisie Telecom Group. He replaces Dominique Saint-Jean, who led MATTEL for 6 years (2014/2019). The now new boss will have the difficult task of steering the company which is facing major financial difficulties in recent years. But also to internal problems including misunderstandings between shareholders of the company. Created in 2000, MATTEL is the result of a partnership between Tunisia and Mauritania. The capital of the…

Meeting on Thursday, March 14, at the end of the first meeting of the year of the National Committee of International Trade Negotiations (CNNCI), the Senegalese officials have decided on certain decisions taken concerning the liberalization of goods and services and rules of ‘origins. The objective of this day was to take stock of the state of evolution of the Negotiations for the implementation of the African Free Trade Area (ZLECAF). Thus, the Director of Foreign Trade of Senegal, Assome Aminata Diatta, revealed that after intense negotiations, the member countries of ZLECAF finally decided in Cairo (7th session) to exclude…

The Central Bank of West African States (BCEAO) hosted, Wednesday, March 13, the first regular meeting of the office of the Association of Central African Banks (ABCA) for the year 2019. Thus, experts, bankers, members of the African Union Commission (AUC), the Monetary Cooperation Program in Africa (PCMA) … have looked into the creation of the African Central Bank (BCA) and the single currency. In the same vein, the African Union Commission (AUC) has proposed flagship recommendations to speed up the process of establishing the Common Bank and the single currency as soon as possible. Among these, there are three,…

British oil giant BP awarded contracts to McDermott and BHGE for orders for underwater production equipment for its Grand Tortue-Ahmeyin gas project, located 125 kilometers off the coast of Mauritania and Senegal. In a press release on Monday, March 11, the two companies said that this agreement is essentially to reduce production costs and delivery time in the first phase of production of the site, concealing 450 billion m³ of gas . “The orders will include equipment for the supply and installation of pipes, umbilicals and underwater structures (SURF) as well as equipment for subsea production system (SPS),” said the…

Meeting on March 6 in Dakar, the BCEAO’s Monetary Policy Committee (CPM) decided to maintain its key rate unchanged at the end of its first regular meeting for 2019. In its press release, the CPM indicated that the minimum interest rate for tenders for liquidity tenders remains at 2.50% and the interest rate of the marginal lending window at 4.50%. “The reserve requirement ratio for WAEMU banks remains at 3%,” he says. “This maintenance of key rates of the BCEAO results from the analysis of the main developments in the international and regional economic situation during the recent period as…

From now on any customer holding a bank card of the New Bank of Mauritania (NBM) can perform a transfer transaction money on the ATM in a secure way. In fact, the bank recently launched the Tahwil NBM service. A new initiative that allows NBA to expand its range of services through its Automated Banking Machines (ATMs). “With this new service, the transferee has the possibility of having the funds sent to the 18 ATMs of the New Bank of Mauritania 24/7, without a bank card! Said the bank in its press release. According to the NBM, this offer allows…

The US company Kosmos Energy intends to divest 10% of its shares in the Grand Turtle / Ahmedine gas field, located 125 kilometers off the coasts of Mauritania and Senegal. This announcement was made recently in London on the sidelines of Financial Markets Day. For the moment nothing has been finalized, but the talks are open to all major firms interested in entering the block capital where resources are estimated at more than 25 Tcf of natural gas. Last December, Senegal and Mauritania signed an agreement for the final investment decision on the GTA project where the sharing of production…

Australian uranium company Aura Energy will sell 800,000 pounds of uranium oxide (U3O8) to Curzon Uranium Trading (CUT) over a 7-year period during the production phase, according to an announcement made Tuesday (January 29th) by its managers. According to the terms of an agreement with CUT, the unit price will be more than 44 USD / lb and the company will also provide an additional optional production of 1.8 million pounds. This offer will allow Aura Energy to be successful as the unit selling price exceeds the cash price of the pound of uranium and the total operating costs of…