Author: Rédaction Financial Afrik

SouthBridge investment bank announces the appointment of Jean-Christ Ametep as director of its office in Abidjan (Ivory Coast). The promoted joined the bank founded by Lionel Zinsou and Donald Kaberuka three years ago and played an important role in its early years in business. “He thus brings a wealth of experience to SouthBridge’s advisory activities in France and in our other offices,” reads a note from the bank. Former KPMG Paris executive, Jean-Christ Ametep has also worked in Private Equity firms, such as AMUNDI Private Equity Funds, ARDIAN and Edmond de Rothschild Investment Partners. Jean-Christ Ametep started his career starting…

Bolloré Transport & Logistics signed in Yaoundé on Wednesday November 03, 2021, a memorandum of understanding with Customs and KiwiPay Afrique Centrale SARL, a company specializing in e-commerce to promote the development of electronic commerce in Cameroon. As part of this agreement, Bolloré Transport & Logistics will be responsible for managing customs formalities and paying the duties and taxes of packages imported by air and sea, thus facilitating the import process and to speed up the delivery times of goods. “This protocol, which commits us over a period of three years, materializes the commitments of the Customs-Business Forum promoted by…

German Government Announces €18m Premium Support to subsidize climate insurance for African Risk Capacity (ARC) Member States. • 18m EUR to subsidize climate insurance across Africa • Goal: Enabling cash-strapped African governments and humanitarian agencies to prepare for disasters by funding insurance coverage for droughts and tropical cyclones. • Mitigating the impacts of climate change for the poorest and most vulnerable communities by providing early support. Glasgow, Scotland, November 3rd, 2021 – The Government of the Federal Republic of Germa today announced, on the margins of the ongoing United Nations 2021 United Nations Climate Change Conference (COP26), the sum of…

The African Development Bank (AfDB) retains its triple AAA with Moody’s, the agency informed in a report from November 2, 2021. Reelected last year for a second term, the Nigerian Akinwumi Adesina, president of the AfDB, also sees through this note renewed confidence in its management following a long so-called whistleblower crisis now forgotten. The outlook remains stable reflects the rating agency’s optimism that the capital and liquidity ratios will be average for AAA rated institutions. Moody’s also expects prudent risk management to keep bad debts (the notorious Non-Performing Loans) low despite a difficult operating environment for the company. The…

West Africa Rating Agency (WARA) affirmed, at the end of its semi-annual review, the long-term rating in regional currency “tAAA” of the “senior” bonds of the FCTC NSIA BANQUE 7% 2020-2025, for an initial amount of 40 billion FCFA. These bonds have a maturity of 5 years. For reference, this rating of “° tAAA °” is the maximum rating allowed by the regional rating scale. The outlook remains stable. At the same time, WARA also affirmed the Credit Rating rating of “ec.A / Stable / w-3” to NSIA Banque Côte d’Ivoire, the Assignor of the securitization transaction.

The West Africa Trade & Investment Hub of the United States Agency for International Development (USAID) awarded a co-investment grant of $ 518,000 (CFA) to La Laiterie du Berger, a company that manufactures dairy products from milk produced locally in Senegal. The grant will allow the company to source from 1,150 new breeders and continue its efforts to reduce the country’s dependence on imported milk. In Senegal, nearly 90% of the milk marketed is imported, generally in the form of powdered milk, while 30% of the Senegalese population are dairy producers who offer enough fresh milk to be able to…

AfricInvest, leader in pan-African private equity and Tawhid CHTIOUI (photo), entrepreneur in the field of higher education, announce the acquisition of 80% of the capital of the ISGA Group alongside the DIOURI family, historical shareholder and founder. The new partners officially gave concrete form to their association on November 1, 2021. This transfer operation, under construction for several months with the assistance of the highly reputed investment bank Baker Tilly Burj Finance, takes the form of a contribution commitment significant investment over the next five years, to support the group’s development plan. The deal thus concluded aims to endow one…

A year and a half after the outbreak of the health crisis linked to the coronavirus, the Cameroonian banking sector is trying to revive itself by digitizing its services. Thus, the recent launch of remote banking operations without internet and without smartphone, associating banks and mobile telephone operators through a national electronic communications aggregation platform with USSD code # 237 # 001 #, is part of this approach. aimed at improving financial inclusion. According to the Professional Association of Credit Institutions of Cameroon (APECCAM) made up of around twenty commercial banks, public banking organizations and financial institutions whose total balance…

The Raxio group is investing in the construction and operation of a 1.5MW colocation data center in Abidjan, Côte d’Ivoire. With commissioning scheduled for 2023, Raxio Abidjan will be the first level III data center, independent from the country’s operators. The facility will support the strongest economic growth in francophone West Africa, promoting the region’s digital transformation and connecting international and local connectivity. The Raxio Group (“Raxio”), one of the pan-African leaders in the development and operation of data centers, today announced the creation and financing of “Raxio Abidjan”, which will represent the very first level III data center. ,…

The Bloomfield Investment Corporation rating agency has assigned Coris Holding an A + long-term and A1 short-term rating. In the long term, the credit quality is high, notes the agency based in Abidjan. “The protective factors are good. However, the risk factors are more variable and more important in times of economic pressure ”. In the short term, the certainty of timely repayment is very high. Liquidity factors are excellent and supported by good element protection factors. The risk factors are minor. Among the elements strengthening the rating, Bloomfield notes a regional economy that is growing and resilient in the…

Dakar Terminal signs a memorandum of understanding with the Malian warehouses in Senegal to reduce stevedoring rates for new tanker lorries destined for Mali Dakar Terminal, the operator of the El Hadji Malick SY ro-ro terminal, signed a memorandum of understanding with the Malian warehouses in Senegal (Entrepôts Maliens  du Sénégal, E.MA.SE) on 14 October 2021. Under this agreement, Dakar Terminal commits to reducing the cost of port transit for all new tanker lorries in transit through Senegal. This exceptional measure will support the process of renewing the commercial vehicle fleet in Mali, and help to boost the competitiveness of…

Gérardine Mahoro is CEO ACT05, the first African firm specializing in African affairs in Europe, based in Paris, with representations in Brussels and Abidjan. Before being at the head of ACT05, she worked for the AfDB and PWC. Present at the Africa France summit in Montpellier, she gives us her impressions. You just attended the Africa-France summit. What conclusions do you draw from this Franco-African reunion? We can’t really talk about a reunion, the Franco-African relationship is a long, continuous and tumultuous story. I retain the format of this meeting which was favorable to discussion, and the opportunity given to…

Abidjan, October 20, 2021 – The Savings, Investment and Heritage Fair (SEIP 2021), a platform for professionals from the world of finance in the UEMOA space, organized by Ecobank and the Agency, reopens its doors for a 4th edition, on November 18th. After three editions, including the third, exclusively digital, which were very successful (an average of more than 3,000 participants for more than 4,500 registered online), the event returns this year in a hybrid version combining face-to-face and digital, and will be held at the Sofitel Abidjan Hôtel Ivoire. The Salon de l’Epargne, de l’Investissement et du Patrimoine, which…

The Coris Group has taken the decision to suspend the rating process with WARA, the Board of Directors of the Coris Group wishing to explore other alternatives in terms of rating, after seven years of fruitful collaboration with the West African rating agency. , announces the agency in a press release.WARA notes Coris Bank International SA since 2014, Coris Bank International Côte d’Ivoire since 2019 and Coris Holding since 2017. At the date of the withdrawal of the ratings, the ratings of these three entities on the WARA regional scale were as follows: BBB + / Stable / w-3 for…

Bureau Veritas and Bolloré Ports have awarded Meridian Port Services (MPS) two stars under the Green Terminal environmental labelling process. This comes after Bureau Veritas conducted an audit lasting several months to assess the social and environmental performance of MPS’s facilities, equipment, energy consumption and operating processes. MPS is the first container terminal in the Bolloré Ports network to obtain the Green Terminal label, also achieving the highest score with an 86.58% success rate (a two-star rating). This reflects the commitment of MPS and its shareholders to further reducing CO2 emissions. This new distinction demonstrates MPS’s determination to reduce the…

Mr. Thierno Seydou Nourou SY, new President of the Association of West African Banks (ABAO), continues to implement his strategy to revitalize this Association, which brings together the two hundred and fifty (250) Commercial Banks , Financial Institutions and Financial Institutions of the fifteen (15) countries of the Economic Community of West African States (ECOWAS). To this end, he went to Lomé, Togo, accompanied by Mr. Séga BALDE, Secretary General of ABAO, where he held, on October 19 and 20, 2021, important meetings with the following Personalities , surrounded by their main collaborators: Mr. Ade AYEYEMI, Managing Director of the…

WAEMU’s first 100% digital bank has a new Managing Director, Cameroonian John Mokom. Chartered accountant with the State of Michigan, in the United States, John Mokom takes on the management of Standard Chartered Bank Côte d’Ivoire, a bank he knows well having joined him in 2018 as a director financial, after having served for a long time in the Cameroonian sister subsidiary as a member of the board of directors (2008), general secretary and financial director (2012-2015). His appointment comes in an increasingly competitive local context where the bank must first and foremost not only consolidate its leadership in digital…

Nigerian President Muhammadu Buhari will launch the eNaira on Monday (October 25th) from the presidential villa of Aso Rock in Abuja with the slogan “even naira, more possibilities”. One of the objectives of this new currency is to counter the use of cryptocurrencies, of which the West African giant (170 million inhabitants) is, with 400 million dollars of transactions in 2020, the third user in the world, behind the States United and Russia, according to a study by the specialized research firm Statista. The virtual currency, a CBDC (Central Bank Digital Currencies), was supposed to be functional since October 1…

Designer of the ministerial city of Diamniado, a new town located 30 km from Dakar, the capital of Senegal, the Envol Immobilier group, through its subsidiary Envol Partenariats CI, has just delivered the first phase of the University of San Pedro. There are two amphitheatres (500 seats and 200 seats), a health center and work rooms (TD). The university campus, the library building and other buildings are under construction. Built on an area of ​​302 hectares, the university center should receive 20,000 students at the end of its four phases of development. The re-entry of higher education institutions was held…

The Togolese Republic and the United Nations Economic Commission for Africa (ECA), organizer of the Cybersecurity summit, have decided to postpone the event initially scheduled for October 25 and 26, 2021 in Lomé. “For reasons beyond our control, the summit on cybersecurity has been postponed to a later date which will be communicated to you shortly,” read a statement dated 23 October. The organizers reaffirm their commitment to make cybersecurity a top priority for African states. Achieving this major objective requires the continued collaboration and cooperation of all stakeholders, Heads of State and Government, private sector leaders as well as…

Bring Africa closer to Scandinavia. By Michel LOBE EWANE Madeleine Taylor has just been co-opted to join the Board of Directors of a leading Danish financial institution, the Nordic Global Investment Foundation (NGIF). Another promotion for the one who, last July, was appointed Strategic Director for the development of projects and investments of this institution. In her mission letter, the former Special Advisor to the Government and Special Representative of the Republic of Guinea Bissau in Scandinavia (from 2019 to 2020) will be responsible for representing the Nordic Global Investment Foundation (NGIF) on the continent. Its Focus, the financing of…

The Regional Insurance Control Commission, regulator of the insurance sector of the Inter-African Conference of Insurance Markets (CIMA), has granted assistance reinsurance approval to the branch of Wafa IMA Assistance based in Abidjan in Côte d ‘ Ivory. Wafa IMA Assistance Abidjan will thus be able to offer its capacities, its know-how and that of its large network of service providers in the 14 insurance markets of the CIMA. Initially, Wafa IMA Assistance plans to start its activities in 4 CIMA countries: Côte d’Ivoire, Cameroon, Senegal and Mali. In these markets, the start-up offer will revolve around: • A range…

As part of internal promotions within the BGFIBank Group, the Boards of Directors of BGFIBank Europe and BGFIBank RDC, headed by their Chairman, Mr. Henri-Claude OYIMA, made the respective appointments of Mr. Boris Bilé COFFI and Mr. Francesco DE MUSSO as General Managers. Boris Bilé COFFI, until then Deputy Managing Director of the BGFIBank Europe subsidiary, joined the BGFIBank Group in 2009 as part of the opening of the BGFIBank subsidiary in Côte d’Ivoire, after managerial experiences within institutions international financial benchmarks. He took part in the launch of the subsidiary in Côte d’Ivoire by successively performing the functions of…

Bloomfield Investment Corporation has confirmed the long-term “A with a positive outlook” rating previously awarded to Bank Of Africa (BOA) Burkina Faso, a subsidiary of the banking group of the same name, announced the executives of this rating agency based in Abidjan. The short-term rating also remains maintained at “A1 with a stable outlook.” The validity of the rating is from May 2021 to April 2022. In the long term, Bloomfield’s management justifies the rating and the outlook attached to it by the high credit quality. They also believe that the protective factors are good. “However, Bloomfield points out, the…

Bloomfield Investment Corporation has confirmed the long-term rating “A with a positive outlook” previously awarded to Bank Of Africa (BOA) Burkina Faso, a subsidiary of the banking group of the same name, announced the executives of this rating agency based in Abidjan. The short-term rating also remains maintained at “A1 with a stable outlook.” The validity of the rating is from May 2021 to April 2022. In the long term, Bloomfield’s management justifies the rating and the outlook attached to it by the high credit quality. They also believe that the protective factors are good. “However, Bloomfield points out, the…

Former Chadian President Hissène Habré was killed on Tuesday August 24 by Covid-19 at the age of 79. He had been admitted to the emergency room in a hospital in Dakar (Senegal) following complications related to diabetes and hypertension, we learned from media sources. Sentenced to death in absentia for crimes against humanity by a court in N’Djaména (Chad), Hissène Habré fled to Senegal and is then charged with crimes against humanity, war crimes and acts of torture. The old man with the white goatee was sentenced to life imprisonment on appeal in 2017, following a first trial held in…

La Francophonie économique will be in the spotlight of La Rencontre des entrepreneurs francophones (LaREF21), extended to around twenty French-speaking employers’ associations invited by MEDEF (Algeria, Wallonia-Brussels, Cambodia, Cameroon, Congo DRC, Côte d’Ivoire, Djibouti, Gabon, Lebanon, Madagascar, Morocco, Mauritius, Monaco, Quebec, G-5 Sahel employers, Republic of Congo, Senegal, Switzerland, Togo, Tunisia). At the invitation of MEDEF, organizer of LaREF, the Secretary General of La Francophonie, H.E Ms. Louise MUSHIKIWABO, will present on August 24 at the opening of this unprecedented edition, the new economic dynamic carried by the International Organization of La Francophonie. “La Francophonie is not an organization with…

In Abidjan, a signing ceremony held on August 14, 2021 enshrined the approval of a € 6 million line from the development institution, Oikocredit International, in favor of the banking financial institution Fidelis Finance Burkina Faso. During the said ceremony, Abdoulaye Sory, Managing Director of Fidelis Finance, expressed his gratitude to his partner Oikocredit International for the trust. He also expressed “his clear desire to continue to contribute to the development of the economic fabric in the UEMOA * space, through financing well suited to businesses.” Oikocredit representative, Cedrick Montetcho said: “We have been a partner of Fidelis Finance since…

Objective: to be a champion in mining catering! Interview by Rodrigue Fénelon Massala Engineer graduated in management from the University of Johannesburg, Lauretta Muinda defines herself as a multidimensional woman who aspires to be the first Congolese businesswoman leader in mining subcontracting and catering. The young entrepreneur, hotelier, sponsor of the program “The Voice Afrique Francophone” spoke with Financial Afrik. Can you briefly tell us about your activities as a businesswoman? I am the head of Karibu Wote (Pty) Ltd, a company legally established in South Africa and the DRC. It is an international company that covers different lines of…

The African Development Bank Group announced on August 17, 2021 that it had excluded, for a period of 18 months, for fraudulent practices, the company Sargittarius Nigeria Limited and its subsidiaries including Sargittarius Henan Water Conservancy Engineering Limited, as of the 28 July 2021. An investigation by the Integrity and Anti-Corruption Office of the African Development Bank found that Sargittarius Nigeria Limited, a limited liability company registered in the Federal Republic of Nigeria, had engaged in fraudulent during a tender for the construction of water infrastructure in Ibadan, as part of the Urban Water Supply and Sanitation Improvement Project in…