Author: Rédaction Financial Afrik

The Eighth Regional Forum for Sustainable Development (ARFSD 2022) concluded today, with the adoption of the Kigali Declaration on Good Practices and Solutions to Strengthen the Implementation of the Sustainable Development Goals in Africa . Adopted by the 54 Member States present, the Kigali Declaration urges African countries to link mutually reinforcing policies for sustainable development and post-COVID-19 recovery to ensure an inclusive exit from the pandemic. The document calls on African countries to take advantage of new tools, innovative solutions and technologies, including through strengthened partnerships with the private sector, academia, non-governmental organizations, civil society and other stakeholders. ,…

BH Assurance, an insurance company operating in Tunisia, signed, on March 2, 2022, a technological partnership agreement with Axxis Systems, the Spanish subsidiary of ERP insurance, for the overhaul of its information system. Presented as a leader in the digitalization of the insurance sector in the country, the insurer indicates that it declares itself, through this partnership, committed to the project of improving the customer experience by choosing to an innovative business software package while retaining its uniqueness and flexibility. BH Assurance offers, among other things, 100% online insurance products and services. In 2020, the former Assurances Salim launched the…

The Algerian Fund for Start-ups (AFS) has granted 510 million Algerian dinars (about 3.5 million USD) in financing to initiators of innovative projects, said its director of participations, Hachani Okba, on March 5, 2022 in Algiers. . According to the official who was speaking at the 2nd edition of the National Conference of Start-ups, the projects financed concern 18 sectors of activity, in particular services, information and communication technologies, health, transport and tourism. . The data shows 390 beneficiaries, compared to only 65 in the first twelve months of activities of the fund launched in October 2020. Also speaking on…

The course of the price of a barrel of oil continues impetuously. Consequence of the sanctions imposed on Moscow in the context of the war in Ukraine. Indeed, the data show a rise in the price of a barrel of Brent from the North Sea to 139.13 dollars on Sunday March 6 around 11 p.m. GMT, close to the absolute record of 147.50 dollars established in July 2008. This Monday 7, around 06:07 GMT, it was up 10.43% at $130.26. As a reminder, the price of a barrel of Brent has exceeded the symbolic bar of 100 dollars for the…

Since December 20, the share price of Ecobank Transnational Incorporated (ETI) on the Regional Stock Exchange (BRVM) of the West African Economic and Monetary Union (UEMOA) has left its floor value of 13 CFA francs, on which it had been frozen for 18 months. The stock has since moved in a very volatile fashion. In the space of two months, the title has experienced variations of up to +100% (going from 13 F CFA to 27 F CFA), then equally marked declines, until returning in recent days to levels close to the floor price, with a last price quoted at…

It is through a press release published Thursday, March 3 that the Senegalese Ministry of Foreign Affairs and Senegalese Abroad informs that it has sent to the Ukrainian ambassador in Dakar, a note of verbal protest against a process of enlistment of volunteers to help Kiev against the Russian military offensive. Serious facts, according to the document. “The ambassador has confirmed the existence of the call and the registration of 36 volunteer candidates”, deplore the Senegalese authorities who indicate that they interviewed the diplomat for the purposes of verification and authentication of a document published on the Facebook page of…

Albert Ouédraogo, economist and specialist in business development and management, was appointed Prime Minister of Burkina Faso on Thursday 3 March. An announcement made by presidential decree six weeks after the January 24 coup. Originally from Dori, a city in the north-east of the country, the new tenant of the prime minister, a civilian as provided for in the transition charter adopted this week, was at the head of a business consulting and auditing firm since 2007. His appointment comes the day after the inauguration of President Paul-Henri Sandaogo Damiba during a rather sober ceremony, 24 hours after the adoption…

Inflation continues to panic the counters in the Uemoa zone. Its rate fell from 6% in December 2021 to 6.5% in January 2022 according to data from the monthly statistics bulletin published on Wednesday March 2 by the Central Bank of West African States (BCEAO). By country, Mali records the highest rate with 8.7%. It is followed by Benin and Togo, the two coastal neighbors having experienced respective inflation rates of 7.9 and 7.5%. For its part, Côte d’Ivoire, the locomotive of the region, of which it represents 40% of GDP, sees its monthly inflation rate amount to 5.6%. This…

The UN General Assembly voted Wednesday, March 2, a resolution condemning the Russian military intervention in Ukraine. Of the 193 member countries of the Organization, 141 countries (including 28 in Africa approved the text), against 5 five who voted against. These are Russia, Belarus, North Korea, Syria and Eritrea, the only African country in this list. For their part, 35 States abstained. Among them, China and 14 African states: Senegal, Mali, South Africa, Angola, Algeria, Uganda and Tanzania, among others. In detail, this resolution “deplores in the strongest terms Russia’s aggression against Ukraine” and affirms “its attachment to the sovereignty,…

The International Finance Corporation (IFC), a member of the World Bank Group, announced on February 28, 2022, the appointment of Kyle Kelhofer as Senior Regional Representative for Benin, Ghana, Liberia, Sierra Leone and Togo . The American thus succeeds Ronke-Amoni Ogunsulire and will have to focus on supporting private sector growth, job creation and post-Covid-19 recovery in the West African region. Kyle Kelhofer previously worked for the IFC in Ghana, and has nearly 30 years of experience in international development, according to a press release from the institution he joined in 1998. He notably worked on the financing of the…

The African Union (AU) spoke out, on February 28, 2022, on the accusations of racist behavior which are multiplying at the borders of Ukraine. Saying in particular “concerned” by the “shocking and racist” reports according to which Africans wanting to leave the country at war against Russia are the subject of different treatment. In a press release, the pan-African body recalls that “everyone has the right to cross international borders during a conflict and, as such, should benefit from the same rights to cross the border to take shelter from the conflict in Ukraine. (…) regardless of nationality or racial…

The work of the national assizes of the texts of the constitutional charter of the transition in Burkina Faso ended on the night of Monday February 28 to Tuesday March 1. The document subsequently signed by Lieutenant-Colonel Paul-Henri Sandaogo Damiba (photo) provides for a period of three years for the transition from the date of the inauguration of the president of the transition, against two and a half years proposed by the commission technical. According to the charter, neither the president, nor the prime minister, nor the ministers, nor the speaker of parliament will be able to take part in…

The war in Ukraine weighs on African currencies. Naira jostled by port chaos. The CEDI is losing ground against the dollar. The Rand rebels. The Egyptian pound immunized by the Chinese vaccine. The Kenyan Shilling blames expensive oil. Headwinds on the Ugandan shilling. The Tanzanian Shilling bets on gas. The Ugandan Shilling bets on Europe. Here are the trends of the main currencies of Africa for the week of February 28 to March 06, 2022 presented by AZA Finance, the largest non-bank foreign exchange broker in Africa, with a transaction volume of more than 1 billion dollars per year. War…

The current events in Ukraine, invaded since Thursday, February 24 by Russian troops, do not leave the United States and the European Union, two great allies of Kiev, indifferent. Both parties have decided to wage war on Russia by hitting it on the wallet, even if they do not intervene militarily on the ground. On the first front, Joe Biden, the American president. Vladimir Putin, he said Thursday evening during a press conference held at the White House, will become “an outcast on the international scene”. This, because of the decisions imposed by Washington, first against Sberbank and VTB Bank,…