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.

Headline inflation fell to 3.7% in November 2020 in Uganda, according to data from Bank of Uganda (BoU), the central bank. It had stood at 4.5% the previous month. Core inflation also fell to 5.8% from 6.3% in October, according to the central bank, due to lower prices in services to 11.1%, mainly due to transport tariffs revised downwards. Other inflationary factors also fell in November, according to the Kampala-based issuing institute. The Ugandan authorities’s inflation outlook points to a rate between 5 and 6.5% in 2020, before converging towards its medium-term target of 5%.

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The inflation rate stood at 3.4% in October 2020 in WAEMU countries, according to data from the BCEAO. This is its highest level since 2013, after the record 3.3% left in August 2020. By country, Burkina is in pole position with an inflation rate of 4.6% in October against 4.5% in September, thus maintaining the upward trend observed since June. Benin and Mali come second with 4.4%, while Guinea-Bissau has the lowest rate (1.1%) in the region. It should be noted that inflation has not been negative in any of the WAEMU countries since July 2020. Inflation was pulled over…

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The gross reserves of the CEMAC banking system (made up of free reserves and mandatory reserves) increased from 2,431.7 billion CFA francs (approximately 4.42 billion USD) at the end of June 2019 to 2,631.5 billion F CFA (around 4.7 billion USD) at the end of June 2020, according to data from the Bank of Central African States (BEAC). This represents an increase of 8.2% over one year, relatively less than that observed between June 2018 and June 2019 (34.1%). According to the central bank, this development contributed to the increase in the share of reserves in the banks’ balance sheet…

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The UMOA-Titres Agency announced on November 30, 2020, that the Treasury of Côte d’Ivoire has decided to postpone until December 8, 2020, the simultaneous issues of Assimilable Treasury Bonds (OAT), with maturities of 3 years and 5 years initially scheduled for December 1 and 22, 2020. According to the institution based in Dakar (Senegal), the new issue will have an indicative amount of CFAF 50 billion (approximately USD 91.5 million) and the characteristics will be communicated “later”. “In the name of the Public Treasury of Côte d’Ivoire, the Agency thanks all the investors for the constant support for the initiatives…

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The DR Congo had a deficit of 122.2 billion CDF (about 62.2 million USD) as of June 30, 2020, according to a conjuncture note published by the Central Bank of Congo (BCC). The country collected CDF 451.4 billion in revenue, compared to expenditure of CDF 573.6 billion as of that date. “This deficit was entirely financed by resources from Treasury bill issues as well as that drawn from the budget support of the IMF (International Monetary Fund). It should be noted that in the second quarter of 2020, the Treasury used a quota of IMF budget support amounting to CDF…

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The Togolese government has ordered the immediate and temporary closure of the premises of the cement manufacturer Wacem (West African Cement), which has become a source of contamination with the coronavirus (Covid-19) “By letter (…) dated October 30, I was informed by the national coordinator of the response to Covid-19 of the discovery of an epidemic focus in Wacem, an industrial company in the free zone. In order to prevent this epidemic center from being the place of spread of the disease in the country, I ask you to immediately close the company for fifteen from this date ”, we…

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In Kenya, economic activity fell 5.7% in the second quarter of 2020 year-on-year, according to a report from the Kenya National Bureau of Statistics (KNBS). Growth was 5.3% in the second quarter of 2019. Although Kenya was somewhat spared the effects of the pandemic in the first quarter, notes the institution, the economy was significantly affected in the second quarter of 2020. “During this period, the country instituted measures aimed at containing the spread of the virus, including restricting movement within and outside certain regions, closing educational establishments, closing certain businesses, especially those that deal with medical services ‘accommodation and…

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UMOA countries will soon be on the regional financial market for a third phase of Covid-19 Voucher issuance, according to an announcement made by the Dakar-based UMOA-Titres agency. “The mode of operation of these titles remains identical to the previous ones (including their accessibility to the BCEAO counters with a special device for these titles)”, specifies the institution. The broadcasts will be organized over a period of one month, which will be communicated later. Supported by the Central Bank of West African States (BCEAO), the Covid voucher initiative announced in April 2020 aims to allow States to mobilize financial resources…

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English-speaking countries in West Africa denounce the “unilateral” decision to rename the CFA franc to “eco” on the sidelines of a meeting held on Thursday January 16 in Nigeria. The six West African Monetary Zone (WAMZ) countries “noted with concern the declaration to unilaterally rename the CFA franc to eco by July 2020”. Finance ministers and central bank governors of the six English-speaking ECOWAS countries say in a statement that “this action is not in accordance with the decisions” of the Economic Community of West African States (ECOWAS) in view of “adopting the eco as the name of the single…

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The new sentence pronounced in the conflict between the Dubai Port World group and the State of Djibouti on the termination of the concession contract for the Doraleh container terminal is not likely to calm the fervor between the two parties whose positions do not are still not reconcilable. In a press release titled “Only a fair compensation and in accordance with international law is possible” and published Thursday, January 16 by African Media Agency on behalf of the Presidency of the Republic of Djibouti, the latter declares this decision not surprising “d ‘a sole arbitrator ruling under the aegis…

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The Togolese government adopted Wednesday, November 13, the draft budget finance 2020 whose budget estimates are in resources and expenses to 1,463.8 billion FCFA against 1378.7 billion in 2019, an increase of 6.2% “due to the increase in cash resources”. “The fiscal outlook is based on a macro-fiscal framework that takes into account national and international economic environments, efforts to be provided under the IMF-supported economic and financial program, which is coming to an end at the end of the year. 2019, “reads an official statement. “In order to structurally transform the Togolese economy, the government intends to focus on…

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From Togo, the best African student in the Doing Business 2020 report published this Thursday, October 24, in Lesotho, the worst, Financial Afrik presents the evolution of progress in all the countries of the continent concerned by the annual ranking of the World Bank. “These results are remarkable, excellent and exceptional. They translate three things: vision, ambition and political will. Thus commented on Thursday in Lome, Sani Yaya, the Minister of Economy and Finance of Togo (photo), the ranking of his country Doing Business 2020 report. A satisfaction mixed emotions that, of course, are not the same in all African…

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The World Bank released this Thursday, a new edition of the Doing Business report that measures the improving business climate around the world. Even though sub-Saharan Africa is underperforming, some countries in the region are doing well. According to the report, 73 reforms (compared to 108 in 2018) were carried out in sub-Saharan Africa, for an average of 1.5 per country. 65% of the economies in the region have achieved at least one reform over the period of the study, says one. Two countries in sub-Saharan Africa are in the top 50 worldwide: Mauritius, 13th in the world, the only…

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Private equity investor Verod Capital Management announced Wednesday (September 17th) that it has received the necessary regulatory approvals for the acquisition of the entire shares of Metropolitan Life Insurance Nigeria. This transaction – the amount of which was not disclosed – marks the departure of the South African group Momentum Metropolitan from the Nigerian market, in line with its new restructuring and growth strategy announced in 2018. The latter provides for a greater focus on growth. of its main activities in South Africa and a review of its operations in Africa, among others. “We are confident that Verod Capital will…

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