Author: Nephthali Messanh Ledy

Rédacteur en chef de Financial Afrik. Basé à Lomé, Nephthali Messanh Ledy représente Financial Afrik depuis deux ans. Outre l'économie et les finances africaines, il est passionné de l’actualité internationale. Diplômé en Commerce International et en Marketing - Communication, il s’intéresse également aux réseaux sociaux et au football.

The contribution of Togolese banks in financing investments reached 162.1 billion CFA francs in 2017, against 109.1 billion a year earlier, according to the final report of a macroeconomic forecast survey released on Wednesday by the Ministry of Finance. economy and finance. These figures represent 44.7% of total investment financing in 2017, a jump of 20.2 points. According to forecasts, equity financing has increased from 72.9% in 2016 to 51.6% in 2017. “The rise in the level of investment on bank loan is mainly due to the performance recorded by banking institutions in recent years,” says the report. In fact,…

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The Togolese government announced Tuesday (May 8th) the upcoming extension of the duration and scope of licenses granted to the two telephone operators operating in the country. Indeed, a decree adopted by the Council of Ministers authorizes the Minister in charge of the digital economy, Cina Lawson, to sign the decrees to that effect. “Due to their imminent expiration, the purpose of the decree is to extend the duration of the GSM licenses (2G and 3G) of Togo Cellular and Atlantic Telecom (Moov), until 2032,” says the report of the meet. At the same time, the Minister is authorized to…

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Barclays Africa Group announced in a statement issued May 2, 2018, its intention to withdraw KPMG South Africa from its hearing as an auditor, joining other companies that have left the company cited in a scandal of influence peddling . “The board has carefully evaluated current and newer developments and decided that it was no longer able to support the renewal of KPMG’s mandate,” he said. The collaboration between the two entities will, indeed, have to end at the close of the legislative and regulatory audits of the questions relating to the financial year 2017, announced at the end of…

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The IMF’s board of directors approved on Monday, April 30, the disbursement of $ 191 million in Ghana after the completion of the 5th and 6th reviews of the Extended Credit Facility, he said in a statement on Wednesday. According to the institution, this new disbursement brings to $ 764.1 million, the total of its disbursements under the economic and financial program. “During the review, adjustments were made to the program to ensure it stays on track and improves its prospects for success,” reads the release. Approved on April 3, 2015 for a total amount of approximately $ 955.2 million,…

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Guinea’s economic growth is expected to reach about 6 percent in 2018, compared with an estimate of more than 8 percent in 2017, the International Monetary Fund (IMF) said in a statement released on Wednesday. “The Guinean economy is growing rapidly, driven by a dynamic mining sector,” said the institution, whose team stayed in Conakry from April 3 to 15. The sharp increase in mining exports has reduced external imbalances in 2017, she says, before pointing to a continued rise in foreign direct investment in the mining sector. In addition, says the IMF, the country’s foreign exchange reserves have strengthened,…

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Togolese President Faure Gnassingbe launched the Tirsal fund on Wednesday (April 25th) in Lomé, a risk-sharing incentive mechanism for agricultural finance. Financial Afrik reviews the implications of the African Development Bank (AfDB) and Nigeria for this first program of its kind in Togo. It is indeed a program perceived as a solution in the performance of agriculture which represents about 40 of the GDP of the country, and occupies 60% of the active population. Ultimately, it will have to increase the volume of financing granted by banks to the sector. Inspired by the Nigerian model (Nirsal, a vast program of…

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Togolese President Faure Gnassingbe launched the Tirsal fund on Wednesday (April 25th) in Lomé, a risk-sharing incentive mechanism for agricultural finance. The scheme will work through a basket to which development partners and the government will contribute. It will generate credit lines up to 10 times the seed capital invested within 10 years to bring agricultural loans from 0.3% to 5% of total bank loans. Eventually, it will be endowed with funding of 100 million euros, more than 65 billion CFA francs, “including a significant contribution from the state,” according to Faure Gnassingbé. “This great synergy, which includes banks and…

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Togolese President Faure Gnassingbé lamented on Friday the negative effects of the socio-political crisis on the growth of the economy. “We must recognize that recently, attitudes fed by the fever of political and social demands have resulted in threatening national cohesion, weakening the social bond and inflicting a significant decline in our economy,” he said. declared in a speech commemorating the 58th anniversary of Togo’s accession to international sovereignty. A situation which, according to him, “relieves” the country of the fruit “of the many efforts made to promote growth and development”. The country is experiencing a political crisis related to…

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The Togolese State resumed Friday, April 20, the Ibis hotel, thus ending a 16-year concession with a partner who had entrusted the management to the French group Accor. Indeed, according to the information, The Godfathers, concessionaires of the building since 2002, had been notified the decision since January 2017. It criticizes the Franco-Togolese couple, late renovations, exploitation below the potential of the site – formerly called Lebenin, inaugurated in 1960 as part of the festivities marking the independence of Togo, in short, a breach of the terms of the contract binding the two parties. Unlike the expulsion of the Accor…

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The shareholders of Ecobank Transnational Incorporated (EIT) are holding the group’s 30th general meeting on Tuesday, which also marks the return of the bank’s indicators in green. They will have to approve the accounts of the bank which announced, for 2017, a profit of 182 million dollars, against a loss of 39 million a year earlier. A performance that Emmanuel Ikazoboh, the Chairman of the Board of Directors, explains by “the decline in provisions in favor of the creation of the resolution vehicle and an acceleration of recovery”. In addition, he says, “ETI adopted in 2017, a new accounting treatment,…

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The former director of the International Monetary Fund (IMF), Dominique Strauss-Kahn, delivered his analysis on the CFA franc, the former Franc of French colonies in Africa still in force in 14 African countries, and formulated proposals reforms through three main conditions. Indeed, in a 29-page document published on April 13, 2018, the French known as DSK drew not only an almost glowing picture of the currency (notably the good performance of the Franc Zone at the macroeconomic level thanks to the guarantee it enjoys), but noted the disadvantages which, in his opinion, weaken the economies of the region. “The political…

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Growth in Sub-Saharan Africa is expected to reach 3.1% in 2018, compared with 2.6 in 2017, and to reach an average of 3.6% over the 2019-2020 period, according to a semi-annual report released Wednesday (April 18th) by the World Bank. Entitled Africa’s Pulse, the document states that growth forecasts rely on the stability of hydrocarbon and metal prices, and the implementation of “macroeconomic reforms” aimed at achieving high and sustained growth levels, and ” to stimulate investment “. The moderate pace of economic expansion reflects the gradual resumption of growth in Nigeria, Angloa and South Africa, the first three economies…

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The French Minister of Economy and Finance, Bruno Le Maire, announced Friday, April 13, that his country was ready to grant Congo-Brazzaville, a grant of 135 million euros subject to the conclusion of a program support with the International Monetary Fund (IMF). “This is how we will bring visibility to the debt reduction program,” justified the French minister. “France is helping the member states of the Franc Zone in their implemented strategies, including debt relief, structural reforms, diversification of the economy and the fight against corruption,” he added. the press conference marked the end of the meeting of finance ministers…

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Aristides Gomes was announced on Saturday in Lome, as the so-called consensus prime minister by Bissau-Guinean President José Mário Vaz, at the extraordinary session of ECOWAS on the political situation in the country. According to the final communiqué, the president of Guinea Bissau said that this appointment comes “after consultation with political forces and civil society”, and “will be taken by presidential decree on Tuesday, April 17 in Bissau”. In addition, José Mário Vaz informed the conference of heads of state, “the holding of legislative elections on November 18, 2018”, and “the opening of parliament on April 19, 2018 to…

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