Author: Ndeye Magatte Kebe

South African Randgold finally merged with Canada’s Barrick Gold. The transaction, which represents $ 18.3 billion, excluding debt, gives birth to the world’s number one gold in terms of market capitalization. Before the merger, Randgold had a capitalization of 4.6 billion pounds (5.12 billion euros) while Barrick Gold was worth 18.78 billion Canadian dollars (12.4 billion euros), according to Thomson Reuters. Including the debt, the enterprise value of the new entity is $ 24.1 billion. Shortly before the merger, Randgold announced a record dividend of $ 2.69 per share, up from $ 2.00 originally announced, for a total of $…

The Caisse de Dépôt et de Gestion (CDG) and Poste Maroc announced this Wednesday, October 31, on the sidelines of World Savings Day, the launch of a new insurance product called “Tawfir Sakane” for income-earners. irregular to allow them access to housing. According to Abdellatif Zaghnoun, General Director of CDG, who told the “La Vie Eco” news website, Moroccans are less inclined to save. Given that only 3.8% of households do so, according to the latest survey of the High Commissioner Plan to them. Thus, “the citizen must be offered a panoply of products so that he can make an…

Banks operating in Cameroon had a turnover of 5,308 billion CFA francs in 2017 representing 26.8% of Gross Domestic Product (GDP), against 23.1% in 2010, according to a report by the International Monetary Fund ( IMF) published this month of October. The document mentions that “of the 14 banks operating in 2017, the assets of the nine foreign banks are estimated at 3,422 billion CFA francs, three private local banks represent 1,376 billion CFA francs while two state-owned domestic banks have 271 billion CFA francs. CFA in terms of assets “. It is also noted that at the end of…

With the aim of providing financial and technical assistance to SMEs, the Société Générale de Banque in Senegal (SGBS) and the Agency for the Development and Supervision of Small and Medium Enterprises (ADEPME) launched on Tuesday 23 October in Dakar, a credit line of 170 billion CFA francs through a program called “Fonds Envol”. This five-year program must make it possible to finance all SMEs registered in the labeling program and the e-rating system of ADEPME, among others. A first disbursement of 15 billion F CFA will be available in 2018, says one. It is indeed a fund that offers…

The public offering (OPV) of approximately 13 million Oragroup shares will start on 29 October at the Abidjan Securities Exchange (BRVM) and is expected to continue until 16 November. As we announced, the transaction involves 57 billion CFA francs (86 million euros, a record at the BRVM), divided between a capital increase of 25 billion CFA francs and a sale of 31 billion Francs. CFA. At the end of the operation, ECP will remain the reference shareholder with 50%. The float will be 20%, which is the floor at the BRVM. Many market analysts, who have followed end-to-end the latest…

The pan-African group OiLibya unveiled a new logo, a new visual identity and a new customer experience called “Ola Energy” at a press conference held Tuesday (October 16th) in Dakar. Indeed, the group has opted for a new look to better position itself on the market for the distribution and marketing of petroleum products in Africa. It is also changing its brand for its pan-African distribution network of more than 1,100 service stations across 17 African countries, becoming “Ola Energy”. According to its managers, “Ola Energy, like the other subsidiaries of the group, will put more emphasis on customer service…

Three Angolan banks were fined to the Capital Markets Commission (CMC) for violating their duty to provide information to the structure. These are the Economic Bank (BMC), Bank Fomenta Angola and Millennium Atlantico Bank (BMA). On its official website, the regulator of the securities market published last Friday a document that explains that it is on the basis of the fundamental law of financial institutions (LBIF) that the banks concerned will pay a fine of approximately $ 3,000 each. For the BFA, the CMC imposed a fine of approximately $ 1,500 in the form of a transaction provided for in…

Sierra Leone has announced that it has abandoned a project to build a new airport by Chinese companies, funded through a $ 400 million loan from China. Indeed, the project proposed by the old regime, much criticized by the new authorities in Freetown for its heavy impact on foreign debt, will paradoxically be replaced by another, at a cost of $ 1.3 billion. In a letter from the Minister of Transport and Aviation, it states that “after a serious review and due diligence, the government considers it unprofitable to proceed with the construction of a new airport while the one…

Senegal is the first country in French-speaking Africa to benefit from the “Boost your business with Facebook” project aimed at benefiting 1,000 SMEs. Launched Thursday, October 11 in Dakar, the pilot phase will chaperone 1,000 small and medium enterprises (SMEs) in the regions of Dakar, Thies, Saint-Louis and Ziguinchor. According to Sherry Dzinovera, a member of Facebook’s team for sub-Saharan Africa, “In other English-speaking African countries, including Kenya, South Africa and Ethiopia, this project has helped to frame 30,000 SMEs since its creation. launch two years ago “. For its part, Aïda Ndiaye, Facebook’s public relations officer for French-speaking Africa…

The official reserves of the Central Bank of West African States (BCEAO) amounted to 9,056.2 billion CFA francs in July 2018, an increase of 962.5 billion compared to the same period of the year 2017, indicates a monthly note of conjuncture in the States of UEMOA. Made public by the central bank, the document explains that “this improvement in the level of reserves is linked in particular to the mobilization of Eurobonds by Senegal and Côte d’Ivoire in March 2018, for an amount of 2.010.9 billion” . The same source informs that “the coverage of reserve assets thus came out…

The rating agency Moody’s through its investor service has revised up Wednesday, October 10, the prospect of the Egyptian banking system from “stable” to “positive”. The agency attributed this improvement to rising economic growth, credit growth, bank profitability and domestic capital production in the North African country. The report states that “the economic outlook has also been underpinned by the accelerating economy and strong demand for loans in Egypt”. According to the same source, one of the other key drivers of this positive outlook of the Egyptian banking system is the improvement of the operational environment following the implementation of…

Vice President Yi Xiang of the Chinese multinational announced Wednesday, October 10 in Beijing, investments of $ 60 million in Angola. The head of the Chinese company was speaking at a meeting with the press on the sidelines of the visit of Angolan President João Lourenço to the Huawei Technology Research Center, as part of his state visit to China. The vice president reiterated “the interest of the technology company to strengthen investments in Angola because being one of the countries where Huawei began to expand its activities abroad.” In this country, the Chinese company develops 2G, 3G and 4G…

The Moroccan Authority for the Control of Insurance and Social Insurance (Acaps) approved this Wednesday, October 10 for the sale of the Saham Group’s insurance division to the South African group Sanlam. Sanlam and Santam have therefore finalized the acquisition of the remaining 53.37% stake in SAHAM Finances. That takes effect this Thursday, October 11th. This operation follows the obtaining of various regulatory approvals from the regulatory authorities of the countries concerned. Thus, Sanlam now owns 90% of SAHAM Finances, the remaining 10% being held by Santam. According to Sanlam CEO Ian Kirk, “The completion of this transaction marks a…

The International Finance Corporation (IFC) signed a € 40 million subordinated loan agreement with Attijari Bank Tunisia on Tuesday (October 9th) to boost equity and increase the bank’s lending capacity. Announced in recent months, this envelope will allow the Tunisian bank to further increase the volume of its long-term funding to support projects for small and medium-sized enterprises, and thus contribute to the government’s efforts to encourage the use of renewable energies and reduce the energy bill. “The Tunisian market for sustainable energy financing is still nascent, but full of potential,” said SFI’s Middle East and North Africa Financial Institutions…