Author: Nephthali Messanh Ledy

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…

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…

The President-in-Office of the Conference of ECOWAS Heads of State, Faure Gnassingbé, called on Saturday to maintain the thread of dialogue, and peace in Guinea Bissau. “Our Guinean Bissau brothers can count on our attentive presence on their side, until they come to a concerted solution to help the country strengthen its institutions, and give the state, the means to function efficiently and effectively. respect for the laws, “he said at the opening of a special session held by the organization in Lome. Mainly devoted to the political crisis in this small country of West Africa, this meeting will have…

The Heads of State and Government of the Economic Community of West African States (ECOWAS) meet in Lome on Saturday for an extraordinary summit on political developments in Guinea Bissau. Indeed, the country has been going through for a few years, a political crisis with several twists and turns. Its actors signed on October 14, 2016, the Conakry Agreement, which recommends a consensual procedure for choosing a prime minister, and which must remain in place until the 2018 legislative elections. It also provides for the formation of an inclusive government according to an organization chart negotiated in a consensual manner…

It is on the eve of a new and almost unclear opposition demonstration that the International Monetary Fund (IMF) has indicated its fears over the repercussions of socio-political unrest on Togo’s economic growth. “Socio-political tensions pose a risk to the prospects for economic growth with a negative impact on the real economy and tax revenues,” said Ivohazina Razafimahefa, the head of a mission that stayed in Lomé on 27 March. April 10, 2018 as part of the second review of the program supported by an Extended Credit Facility. “Economic activity slowed down in the second half due to socio-political unrest.…

Togo’s public debt-to-GDP ratio stood at 77 percent as of December 31, 2017, compared to 82 percent a year earlier, Economy and Finance Minister Sani Yaya said in a news conference. press Tuesday, April 10 in Lomé. This rate is determined according to the criteria of the International Monetary Fund (IMF) which also include the debts of the state companies, said the minister, who announces, moreover, that the debt is 71.74% of GDP according to criteria for defining UEMOA’s debt against a standard of 70%. The minister was speaking in the presence of an IMF team that had just completed…

The Management and Intermediation Company of Togo (SGI – Togo) is looking for a successor to its managing director, Mensah Kokou Assigbi, who has resigned since February. According to information, the candidates who applied for the post began Thursday, April 5, tests and interviews in a hotel in the capital. For now, there is no information on the number of applicants or their identities. Clarification that the resignation of the Director General of the institution, Mensah Kokou Assigbi, was confirmed by the Board of Directors meeting in extraordinary session on February 26, 2018, a few weeks after the bond transaction…

Ecobank Cameroon announced on Wednesday, having achieved for 2017, a net profit of 6 billion CFA francs, a decrease of 1.5 billion compared to the previous year. Same downtrend gross banking product which stood at 38.95 billion FCFA, against 39.31 billion a year earlier. The cost / income ratio, on the other hand, improved by two points to 56.9%, compared with 58.9% in 2016. According to the bank’s leaders – which remains the fifth largest national bank out of fifteen active banks – this weak performance is attributable to a “difficult economic environment that goes beyond the banking sector alone”,…

Mediterrania Capital Partners strengthens its presence in sub-Saharan Africa by acquiring, albeit minority, equity stake in Compagnie Financière Africaine (Cofina), thus enabling the institution of mesofinance to raise 20 million euros, and accelerate its regional growth through to four additional countries in West and Central Africa by 2021. Realized through its third fund (MC III), the operation is accompanied by technical assistance to enable Cofina to raise up to 50 million euros more, in debt or capital, over the next three years. With this new participation, Mediterrania Capital Partners will now be able to look to Benin, Burkina Faso, Nigeria…

Togolese Rose Kayi Mivedor was taken on March 22, 2018 to head Orabank Gabon, two years after joining the group of the same name via the Togolese subsidiary. She replaces the Cameroonian Guy Martial Awona, in post since 2016. With 15 years of experience in the banking sector, Rose Mivedor has taken control of Oragroup’s most profitable subsidiary (in 2014) and will have to confirm its position. Indeed, the Gabonese customers of the group based in Lomé are mainly companies. Appointed deputy general manager of Orabank Togo in January 2016, the former president of the Association of Professionals of Banks…

The Deputy General Manager of Bolloré Transport & Logistics, Philippe Labonne, announced Tuesday in Abidjan on the sidelines of the Africa CEO-forum, that the group will “persevere in its investments, with an amount of 300 million euros in 2018 to improve infrastructure and launch new projects. ” “We are determined to invest in Africa, to participate in the logistics transformation of this continent which offers some development prospects,” he added. In addition, the general manager of Bolloré Ports also announced for June 2019 in the Ivorian economic capital, the construction of a second port terminal to accommodate the “largest container…

In a press conference on Tuesday (March 27th) in Accra, the governor of the Central Bank of Ghana (BoG), Ernest Addison, assured the opinion on Tuesday about the state of the country’s banking sector. Based mainly on the capitalization of banks, the manager said that the challenges in the sector had not reached a level “that can be described as threatening”, this, despite the latest developments. “The banking sector is safe and strong,” he said. The exit came amidst a period of UniBank’s temporary administration to save the institution from imminent bankruptcy following the collapse of its two local subsidiaries…

Marrakech is hosting the 15th annual conference of the African Capital Investment Association (AVCA) on April 23rd and 24th. The largest gathering of private equity and venture capital in Africa is back for the first time in North Africa in nearly a decade, bringing together thought leaders, investors and advisors managing more than $ 1.3 billion. dollars of assets. According to the organizers, the meeting will see the participation of more than 600 private equity leaders who will discuss key trends shaping the investment environment in Africa. On the agenda of this major event for African investors, there are keynote…

In a report released this week on trade in Africa, Moody’s identifies barriers that can limit the growth potential of the Continental Free Trade Area (CFTA). “Non-tariff barriers, such as corruption, ineffective customs documentation and broader procedural approaches hinder exports and trade in Africa. Of the 24 African countries we evaluate, 16 have low or very low scores for institutional strength, “she says. In the same way, “infrastructures are insufficient despite major investments”. Thus, Moody’s notes that countries like South Africa and Kenya will benefit the most from further integration because of their industrial output and the quality of infrastructure.…

Suspended February 23, 2018, the work of dialogue between actors of the political crisis in Togo will resume in the coming days, next week more precisely. Indeed, an emissary of the president of the Ghanaian president, Albert Kan-Daapah, began this Monday in Lomé, a mission to the opposition and the government, for bilateral consultations leading to the definition of a new agenda. Officially, the suspension announced on the evening of February 23 was justified by the agenda of President Nana Akufo-Addo, chief facilitator of the negotiations started 5 days earlier at the Hotel February 2, the former concession of the…

The International Monetary Fund (IMF) approved March 14, 2018, a new three-year agreement of about 158 ​​million dollars (90 billion FCFA) in Burkina Faso, under the Extended Credit Facility (ECF). The International Monetary Fund (IMF) approved March 14, 2018, a new three-year agreement of about 158 ​​million dollars (90 billion FCFA) in Burkina Faso, under the Extended Credit Facility (ECF). It is, indeed, an envelope in support of the national program of economic and financial reforms. According to a statement from the institution, the program aims to achieve a sustainable balance of payments position, achieve inclusive growth and reduce poverty…

The director general of Saham Assurances Togo, Magloire Dochamou, was sacked this Tuesday at the head of the company. According to information received by Financial Afrik, this former Fedas Ivory Coast executive has been summoned for a few weeks to resign, following an inspection mission sent by the group in Lome. Contacted, the now ex-CEO of Saham Togo, cited in a case of malpractices by the local press, did not want to comment on the subject. Major player in the insurance sector in Togo, the subsidiary of the largest pan-African insurance group (excluding South Africa) had recorded in 2015, its…

The heads of state of the Economic Community of West African States (ECOWAS) found in late January, the failure of their project of reforms of the organization, after much bargaining. Meeting in Addis Ababa on the sidelines of the 30e Ordinary Session of the African Union Summit, the Conference chaired by Togolese President Faure Gnassingbe “noted the enormous difficulties associated with the allocation of statutory posts to member states, particularly in the case of a nine-member ECOWAS Commission “, We read in the final communiqué of this extraordinary meeting. In this regard, he continues, the ECOWAS Heads of State decided,…

In a greetings speech on Friday February 9 in Douala, the chairman of the commission (CMF) of financial markets, Jean-Claude Ngbwa, has drawn up a satisfactory balance sheet of the institution, at the end of the year 2017. “We have worked to make our market a modern tool for financing the economy through the admission of the CMF to the International Organization of Securities Commissions (IOSCO) as an associate member,” he said. . The former Secretary General of CIMA (Interafrican Conference of Insurance Markets) also discussed the introduction of US capital investment in the market, and the finalization and transmission…

The President of the African Development Bank (AfDB), Akinwumi Adesina, this week called on member countries of the institution to contribute to a further capital increase. “At a time when we must all support Africa more vigorously to achieve the SDGs, the Bank needs more resources through a general capital increase,” he said. said Tuesday at the annual lunch diplomats posted in Abidjan. In his plea for “the support of all the shareholders”, the Board of Directors and the governors of the Bank, the Nigerian wanted to rake wide to make known to the continent, “a much brighter and more…

The president of the African Development Bank (AfDB) broke the silence on Tuesday over the wave of layoffs that has shaken the institution for several months. “You have probably heard of some changes at the Bank. I can assure you that everything is going well, “said Akinwumi Adesina at the traditional New Year’s luncheon held at the AfDB headquarters in Abidjan, at the accredited diplomatic corps in Côte d’Ivoire. The former Nigerian minister of agriculture and rural development justifies these changes with “the reforms that the shareholders [have] asked us to carry out”. “They asked us to optimize resources, and…

As part of improving the business climate, the Togolese government has announced the liberalization of social capital and the nominal social share, to encourage foreign direct investment. In council Friday 26 January, the executive took stock of the reforms implemented in the last two months. They focus on five key indicators contained in the World Bank’s latest Doing Business report: business creation, building permit, ownership transfer, contract enforcement and connection to electricity. In addition to the liberalization of social capital and the nominal social share, the government announced, among other things, the abolition of registration fees and stamp duties and…

To ensure macroeconomic stability and support the growth of the West African Economic and Monetary Union (WAEMU), member states must adjust budget deficits to the convergence criterion (3% of GDP) from 2019 . This is one of the recommendations made by an IMF team that conducted a mission to various institutions in the subregion, from 11 to 24 January 2018. “2018 is a critical year for convergence towards sustainable budget deficits,” according to the team led by Dhaneshwar Ghura. Fiscal consolidation will require increasing domestic resource mobilization and prioritizing spending, she says. Thus, the mission advocates fiscal policy reforms designed…

In Cameroon, the debt ceiling during the 2018 budget year is set at 650 billion F CFA against 1500 billion in 2017. Announcement made this Wednesday by the Directorate General of Treasury, Financial and Monetary Cooperation of the Ministry of Finance. According to the Public Debt Strategy Document (DSEP), this reduction “takes into account the constraints of the program with the IMF (International Monetary Fund) and the concern to keep Cameroon’s public debt on a sustainable path, with a risk of moderate debt distress “. Despite a debt ratio lower than the Community ceiling of 70% of GDP, the financing…

In an extraordinary session this Saturday in Lome, the Council of Ministers of the Economic Community of West African States (ECOWAS) is struggling to agree on the rules for the allocation of statutory posts in the institutions of the community. These are the attributions to be defined in the framework of the implementation of the reforms of the subregional institution. According to our information, almost all member countries are not ready to give their votes for the adoption of the rules, and the allocation of certain posts. Indeed, ECOWAS anticipates a reduction in the number of 15 commissions to 9,…

The Director General of Treasury and Public Accounting, Mashoud Yerima Amadou, was dismissed from office on January 10 2018, and replaced by Ekpao Adjabo, hitherto central inspector of the treasury. Cette nouvelle nomination s’inscrit «dans le cadre de la réorganisation» du ministère de l’économie et des finances, amorcée par un décret pris le 29 septembre 2017, «portant attributions, réorganisation et fonctionnement dudit ministère m», selon un communiqué du conseil des ministres. Elle intervient dans un contexte marqué par une forte baisse des souscriptions des bons et obligations du trésor sur le marché monétaire, depuis septembre 2017. Les derniers bons émis…

Back Conakry where she met Alpha Condé, a coalition of 14 political parties of the Togolese opposition announced that the chairman of the African Union (AU) has proposed a dialogue between the 23 and 26 January 2018, after consultation of stakeholders. Is the end of the crisis possible? Announced for November 6, 2017 by the government after a series of clashes between security forces and opposition protesters in several cities, the political dialogue to end the crisis in Togo she will reach her first goal ? Difficult to answer, if we know that the more entrenched positions of the two opposing camps,…

Announced in 2016 and implemented in the 2017 budget, the elimination of taxes on mobile terminals and computer equipment is no longer relevant in the state budget, Exercise 2018. “The government’s objective was to reduce the cost of these goods by reducing or exempting their importation and sale of value-added tax (VAT). Unfortunately, the implementation of these measures, which creates a significant revenue shortfall in the Treasury, has not achieved its intended objective because the investigations revealed that the prices of the goods in question have not declined. These measures do not benefit consumers, “explained the executive, during the budget…

The Togolese State has mandated Sogebourse, a SGBCI Subsidiary Management and Intermediation Company (SGI), to pilot and arrange its bond issue launched in December 2017, much to the chagrin of SGI Togo, which would have applied with a better interest rate. Financial Afrik returns to the contours of a choice that is both strategic and binding. Open from 20 December 2017 to 20 January 2018, the bond issue through a public offering launched by the Togolese State involves an amount of 60 billion CFA francs represented by six million of bonds a nominal value of 10 000 CFA each. Named “TPTG…