Author: Rédaction Financial Afrik

It is known to the public that malicious people produce messages, documents, e-mail addresses and websites which they present as being from the Central Bank of West African States (BCEAO). Reserving the right to initiate legal proceedings against the authors and accomplices of fraudulent acts affecting its image, the Central Bank invites Internet users to be extremely vigilant and to refer to its website https: / /www.bceao.int for information from her. In addition, the BCEAO recalls that it is an international public establishment. Therefore, the services it provides do not require any financial compensation.

The first private initiative green bond issue from francophone West and Central Africa could pave the way for new issues in the region. The eight-year bonds of Emergence Plaza, owner of Côte d’Ivoire’s most visited shopping complex, Cosmos Yopougon, were issued today at a yield of 7.5%. The proceeds of the issue of 10 billion CFA francs (18.1 million dollars) will be used to refinance a bank loan from a local bank and to support the company’s future projects by strengthening its financial and operational solidity. . The issue, which was oversubscribed, was listed at 150 basis points, below the…

At the end of 2020, the decentralized financial systems (DFS) of the West African Monetary Union (WAMU) falling under article 44 of the law regulating DFIs (level of activity reaching a threshold of 2 billion FCFA of outstanding deposits and loans) posted a balance sheet total of 2,561.044 billion FCFA (3.841 billion euros), according to data from the Banking Commission based in Abidjan. The financial and statistical data analyzed by this Commission concern 182 SFDs, or 96.8% of large institutions. Compared to 2019 when it stood at CFAF 2,347.851 billion, the balance sheet total of these DFIs is up by…

Building on a 25-year relationship, Bolloré Transport & Logistics and supply chain services company Czarnikow are collaborating to support Bolloré Transport & Logistics’ sustainable development in East Africa, through the VIVE Sustainable Supply Programme. VIVE is designed to create fully sustainable supply chains in which all actors commit to sustainable improvement.   Through its participation in this programme, Bolloré Transport & Logistics is strengthening its footprint as a player in fully sustainable trade. Will Rook, Head of VIVE, says; “The VIVE Programme is committed to supporting its participants in reaching their sustainability goals through third party verification and bespoke improvement plans.…

Nowcasting was used for a long time in very short-range weather forecasting exercises before being applied to economics in 2008. In this context, nowcasting allows the monitoring of economic conditions in real time. This modern approach is relevant because one of the key measures of the current level of the global economy, in particular the gross domestic product, is only available in Côte d’Ivoire quarterly and annually with a considerable delay in addition to the revisions only. it needs. Consequently, economic agents whose activity requires real-time information on the state of the economy, are penalized. Bloomfield Forecast, is a forecasting…

Anxious to offer the best quality of service to its customers, Attijariwafa bank Europe has improved its money transfer services with faster availability of funds while ensuring a reinforced level of security, in order to facilitate the return of MRE. in Morocco and thus allow them to enjoy their summer holidays serenely. Attijariwafa bank Europe customers now benefit from funds within 2 hours for their money transfers to Morocco (1). Attijariwafa bank Europe offers many money transfer solutions (2) to quickly send money to Morocco: by transfer, online, direct debit, cash, bank card and check. Always with the objective of…

Up to 37% of children in school worldwide are taught in a language they do not speak at home, the World Bank finds in a new report. Read below the summary of the report signed by Jaime Saavedra, Director General, Education, Michael Crawford, Lead Education Specialist and Sergio Venegas Marin. Teaching students in the language they understand seems to be obvious. But for many, it isn’t. Over the past decades, we have seen tremendous progress in improving access to education, but the world continues to face a global learning crisis. Although most countries have universal or near universal enrollment in…

In the case opposing the Autonomous Port of Douala (PAD) against the APM / Bolloré consortium on August 05, 2021, the Littoral Administrative Court declares itself competent to judge the request of the APM TERMINALS BV / BOLLORE SA consortium on the cancellation of the decisions of the PAD board of directors creating the Régie du Terminal à containers du port de Douala. This is the 9th legal victory won by the APM / Bolloré consortium in this case where the PAD asked the Littoral Administrative Court to declare itself incompetent to try this case. The case is postponed until…

Child of globalization, Ilan Benhaïm is an entrepreneur and business angel – with a triple origin: Moroccan, Austrian and French. A graduate of NEOMA Business School, in 2001 he co-founded veepee.com (formerly vente-privee.com), a company specializing in event sales with a turnover of 3.8 billion euros. He is also a shareholder of Blablacar. Since 2019, Ilan Benhaïm has created IB Participations, an investment holding company specializing in the financing of French and international start-ups operating in the world of fashion, tech and retail. To date, around twenty start-ups have already received its support. From its subsidiary based in Casablanca, IBP…

Ahmat Abdelkerim has been Managing Director of the Horn of Africa cluster of Bolloré Transport & Logistics since July 2021. He will lead the company’s activities in three countries: Djibouti, Ethiopia and Eritrea. He succeeds Patrick Gerenthon who has been called to other functions within Bolloré Transport & Logistics. A Chadian national, Ahmat Abdelkerim graduated from Sup’Management in Morocco and holds a master’s degree in development policies and management from Sciences Po Paris. During his 20-year career within the various subsidiaries of Bolloré Transport & Logistics, he held several managerial positions before being promoted to Chief Executive Officer of Bolloré…

The Ivorian Federation of Small and Medium-Sized Enterprises (Fipme) did not go all the way, she said, to denounce “the actions and actions of the ministry in charge of SMEs” aimed at “excluding” it from national bodies. Facing the press on August 4, 2021, the organization’s officials indicated that the state press release relating to the activities of the celebration of the Independence Day of Côte d’Ivoire “does not mention the Fipme in the list of structures and organizations invited ”. “This is the place to underline the actions of the Ministry of SMEs against the Fipme, whose vocation is…

In contact with a person who has just been tested positive for the Covid-19 test, President Alassane Ouattara has been placed in quarantine. According to the press release sent to Financial-Afrik, the Ivorian head of state followed “health recommendations in this area and in accordance with the government’s provisions to put himself in confinement”. In the press release dated August 3, 2021, President Alassane Ouattara urges his compatriots and foreigners residing in Côte d’Ivoire to be vaccinated.

From August 9 to 27, 2021, Côte d’Ivoire will host the Universal Postal Congress organized by the Union Postale Universelle. Since 2016, the UPU has been deploying a digital solution to facilitate e-commerce on the continent: the Ecom @ africa initiative. By its nature, this event is as much an opportunity as it is proof of the growing economic maturity of the Ivory Coast. Founded in 1878, the UPU is one of the oldest international organizations. Forced to reinvent itself with the advent of the digital age, and the decline in the volume of mail (except parcels), the UPU has…

By Andrew Chimphondah On 31st December 2019, coronavirus cases were discovered from Wuhan City in China. This then lead to an outbreak of the novel Corona Virus disease (COVID-19) throughout the whole world, with devasting and disruptive impacts to global livelihoods ranging from health, to economic establishments, to social interactions. In Africa, governments and health authorities across the continent are striving to limit widespread infections of COVID-19. As of July 26th ,2021, Africa had 5,984,572 cases, 152,406 deaths and 5,177,733 recoveries. With the rising number of COVID-19 cases in Africa, it is becoming a source of concern considering the region’s…

[Photo: Karim AIT Talb, Deputy Managing Director of Géocoton]. Bboxx, a new generation electricity operator, is partnering with Advens Geocoton in a joint venture to enter and develop the Burkina Faso market. This is the first step in a long-term strategic partnership that will see the two companies develop clean energy in other countries in the future. The government of Burkina Faso has announced ambitious plans to accelerate access to energy, with electrification rates currently averaging 18%, and only 5% for the rural population1. Through this partnership, Bboxx and Advens Geocoton aim to improve the lives of 2 million people…

In July 2021, Dr Edoh Kossi AMENOUNVE, Managing Director of the Regional Stock Exchange (BRVM), became a member of the Nasdaq Exchange Review Councils for a three-year term until 2024. The Exchange Review Council is a standing independent advisory committee responsible for ensuring the consistent and fair application of market rules related to the discipline of members and member organizations for each of the Nasdaq exchanges. The Managing Director of BRVM and DC / BR has thus risen to the top of Global Finance by joining one of the Nasdaq Specialized Stock Exchange Committees (Nasdaq USA, Nasdaq Nordic and Nasdaq…

PRCA, the largest professional public relations association in the world, representing more than 35,000 public relations professionals in 70 countries around the world, set up the 1st board of directors of its African network composed of 10 members . Kwame Senou, Managing Director of Opinion & Public is one of 10 high-level professionals appointed to be in the proceedings. One of the founders of Opinion & Public, the public relations firm affiliated with Burson Cohn & Wolfe and distinguished at the 2021 Saber Awards Africa, Kwame Senou is known for his activism in favor of the profession. He is a…

After an initial agreement in principle signed in June 2020, Tasiast Mauritanie Limited S.A (TMLSA), a subsidiary of Kinross, and the Mauritanian government signed a final agreement on July 15, 2021. The agreement should anchor Kinross’s mining activities and its close cooperation with Mauritania in the long term. Designed as a win-win partnership, the agreement should ensure a solid foundation for Kinross’s activities on technical, fiscal and operational aspects. In return, Kinross provides guarantees of transparency to the Mauritanian government while committing to pursue its development aid activities ($ 16.3 million in community support) and local employment (97% of TMLSA…

Benin has carried out its first issue of international bonds dedicated to the financing of projects with a high impact on the achievement of the United Nations Sustainable Development Goals, the first for an African state. This operation made it possible to mobilize an amount of 500 million euros (328 billion FCFA), with a repayment deadline set in 2035. The funds mobilized will be used exclusively to finance various social and environmental projects contributing to Benin’s commitments to achieve the United Nations SDGs. Benin thus reaffirms the highly innovative nature of its debt management strategy and renews its commitment to…

Jeddah-Dakar, July 13, 2021, The Islamic Society for the Development of the Private Sector (SID), the private sector arm of the Islamic Development Bank Group (IDB), and the National Bank for Economic Development (BNDE) – Senegal, signed a € 12 million Sharia-compliant line of financing agreement to support Senegalese SMEs affected by the COVID-19 epidemic. This agreement is part of the allocation of the $ 250 million COVID-19 financing line deployed by ICD in support of the private sector affected by the pandemic, drawing on the expertise of the banking system of its member countries . Mr. Ayman Amin Sejiny,…

The visit of Senegalese President Macky Sall, on July 12 and 13, 2021, in Nouakchott where he will be received by his counterpart Mohamed Cheikh Ould Ghazouani will have as main themes gas and fishing. The two countries share the Great Turtle Ahmeyim field, the largest deposit in West Africa. Partners BP and Kosmos have issued some warning signs that the investment cost of the project will be 30% over budget. This overrun is due to administrative delays and non-compliance with certain exemptions appearing in the agreement between the parties. The meeting in Nouakchott is more than decisive for the…

Determined to offer its Member States innovative products against the risks of climate disasters, while taking their concerns into account, the African Risk Capacity Group (ARC), headed by its Managing Director, Ibrahima Cheikh Diong, has recently visited Malawi and Sudan. As a specialized agency of the African Union at the service of its Member States, the ARC is committed, through its new strategy focused on the diversification of its products and the establishment of intelligent partnerships, to play fully its role in helping governments to strengthen their national disaster risk management systems. The two official visits to Malawi and Sudan…

July 9, 2021 – Around the world, interest in bitcoin and other cryptocurrencies continues to grow and Africans are increasingly looking to learn about cryptocurrencies and the inner workings of the blockchain industry in their together. To help with cryptocurrency education, Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is hosting a FREE cryptocurrency masterclass for cryptocurrency enthusiasts across the world. French speaking Africa. Since its launch in 2020, Binance Masterclass has grown into the premier crypto training for crypto beginners and enthusiasts. This edition aims to provide an introduction to cryptocurrencies, learn how crypto changes the lives…

Organizers of major events dedicated to the luxury industry in Paris and Geneva, Coralie Ombga and Anouch Sedef, initiators of All Sees Limited, are holding their very first in Abidjan. It will be July 15 in the form of a dinner around distinguished guests and a very relevant theme: “Luxury tourism and Investments”. After aperitifs and other civilities and elegance, accompanied by champagne offered by Moët et Chandon, hostilities will continue in the form of a conversation with Coralie Omgba, Anouch Sedef and Jean-Michel Lavoizard. The games, between pear and cheese, will focus on the challenges of luxury tourism in…

Fitch Ratings downgraded Tunisia’s currency rating from “B” to “B-” with a negative outlook. The downgrade to “B-” and the negative outlook reflect increased fiscal and external liquidity risks in the context of further delays in agreeing to a new program with the IMF, which is required to access budget support from the IMF. most official creditors. The fragmented political landscape and social opposition limit the government’s ability to adopt strong fiscal consolidation measures, complicating efforts to secure the IMF’s program. In the absence of strong reforms, public creditors may find that debt restructuring is necessary before they can provide…

Shelter-Afrique received US $ 9.2 million (KES 1 billion) from the Government of Kenya as additional capital subscription, solidifying the country’s position as the largest shareholder in the Pan-African Housing Development Finance Company. This contribution brings Kenya’s stake to 18.72%, ahead of Nigeria and the African Development Bank which now hold 13.71% and 13.25%, respectively. Speaking in Nairobi, Managing Director of Shelter-Afrique, Mr. Andrew Chimphondah, applauded the Government of Kenya for its continued financial and diplomatic support which has enabled the company to achieve its recovery plan on time. “We are grateful to the Government of Kenya for their continued…

Orange Côte d’Ivoire, a multiservice operator committed to the digital and entrepreneurial ecosystem on a long-term basis, presented the investment fund, Orange Ventures, to Ivorian startups via its Orange Fab accelerator. With an investment capacity of 350 million euros, including 50 million euros for the Africa and Middle East region, Orange Ventures recently launched its seed investment initiative in countries where Orange operates. It is in this context that this Orange Group fund is returning to Côte d’Ivoire in search of young Ivorian start-ups among the most promising in order to strengthen their expansion capacities and accelerate their development. It…

Following on from the tour started by the Banque Populaire through the different regions of Morocco, the ocher city hosted, this Wednesday, June 30, the 7th stage of the “Regional Investment” roadshow. This event, which aroused great interest from businesses in the region, saw the signing of a partnership agreement with the Solar Cluster, aimed at strengthening support for SMEs in accelerating their energy transition. The work of this stage was kicked off by Mr. Jalil Sebti, Director General of the Commercial Bank and Mr. Ahmed Akhchichine, President of the Marrakech-Sa fi Region, who insisted on the opportunities abounding this…

The Central Bank of West African States (BCEAO) through its training center, the West African Center for Training and Banking Studies (COFEB), in partnership with AFREXIMBANK and the international factoring network FCI, announces the organization of a series of three (3) international webinars on the theme “Factoring and Financing of receivables”. Scheduled for July 13, 14 and 15, 2021, these webinars aim to build the capacities of actors involved in factoring activities in Africa, namely central banks, credit institutions and microfinance institutions. To this end, a specific session will be devoted to regulatory authorities while training will be provided to…

In a webinar discussion hosted by TagPay and moderated by Omar Ben Yedder from African Banker; Yves Eonnet (TagPay), Djiba Diallo (Ecobank Group), Obinna Ukwuani (Bank of Kigali) and Carl Manlan (VISA), discussed how the digitalisation of banks is a huge opportunity across Africa and partnerships with fintech would address the challenges of financial inclusion and the rapid scaling up that is needed across the continent. Banks have to be equipped with the tools that enable them to pre-empt the market and respond quickly to customer demands in a secure and cost-effective way. For the banks to stay relevant Djiba…