Author: Rédaction Financial Afrik

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…

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), has provided Murabaha financing of 10 million euros to the Bridge Bank Côte d’Ivoire Group (BBGCI). This agreement will facilitate a significant portion of BBGCI’s trade finance needs and support its private sector clients including small and medium-sized enterprises (SMEs). BBGCI, Côte d’Ivoire’s ninth largest bank in terms of assets, will make the funds available to its growing clientele, in particular importing companies operating in sectors such as energy (petroleum), foodstuffs, agrifood and construction. Speaking on the occasion, Mr. Nazeem Noordali, Chief Operating Officer…

Created in 2009, with a first extension of its authorization in 2015 which enabled the subsidiary of the BGFIBank Group to collect sight and term deposits from corporate clients, BGFIBank Europe is now authorized to collect funds from the public , in accordance with article 18 of the decree of December 4, 2017, by the College of the Prudential Control and Resolution Authority (ACPR). The ACPR’s decision recognizes the robustness of internal control and the good performance of the subsidiary for several years. This extension is a key step in the international development of the BGFIBank Group and is part…

By Yaye Hélène Ndiaye, Founder and Director of KITAMBAA and Yacine Djibo, Founder and Executive Director of Speak Up Africa. The COVID-19 pandemic has plunged the world into deep economic crisis and deepened inequalities. Among those most affected: women and girls, especially those living in vulnerable situations in low and middle income countries. While COVID-19 has exacerbated gender inequalities, many of us – activists and agencies working on gender and development issues – have joined forces to advocate for gender equality and rights. women. A debate on the management of health and menstrual hygiene upstream of the Generation Equality Forum…

Birimian, the first operational investment company dedicated exclusively to luxury and premium brands of African heritage, announces the signing of two partnerships with the Institut Français de la Mode, one of the world’s leading fashion schools, based in Paris, and WSN (Who’s Next, Première Classe, Impact, Traffic, Bijorhca), a strategic player in the international fashion scene specializing in the exhibition and distribution of emerging and independent creative brands. These two exclusive partnerships illustrate the will of the three players to be part of a long-term dynamic dedicated to the emergence of emerging brands with African heritage. Birimian and the Institut…

The project development company Financing Access Congo announces the signing of two power purchase agreements concerning two solar photovoltaic plants located in the province of Haut-Katanga (in Likasi and Kolwezi) with the Company National Electricity Company (SNEL), the public electricity company of the Democratic Republic of the Congo. The project is led by Financing Access Congo in partnership with the Green Power Capital (GPC) investment fund. Led by Song Donsheng, ex-president of Sinohydro, the latter specializes in financing renewable energy projects and is based in Hong Kong. The OTEC Group, specializing in the design of high added value buildings, will…

Huawei has just announced the appointment of Terry HE as Chairman of Huawei Northern Africa. As such, he will be responsible for coordinating all of the group’s activities in the 28 African countries [1] in the region. With a bachelor’s degree in Electronic Information Engineering from Wuhan University in China, Terry HE joined the Huawei Group in 2005. Prior to his current appointment, Terry HE had 15 years of experience in the Middle East where he has successively held the positions of COO of Huawei Pakistan, Managing Director of Huawei Kuwait, President of Huawei Middle East Enterprise Business Group and…

The Teyliom Group appealed to the regional financial market to raise FCFA 20 billion by ceding to FCTC TEYLIOM IMMO 7% 2021-2028 of real estate debts. This operation, launched on May 20 for a subscription period of one month, was closed early on June 1 with an oversubscription level of 145%. A major player in real estate in French-speaking West Africa, the Teyliom Group aims to become a benchmark investor on the African continent, innovative and proactive. With a view to financing the development of real estate projects in the West African region, particularly in Côte d’Ivoire and Senegal, the…

The National Company of Industrial and Mineral Engineering of Mauritania provides JESA with technical assistance for monitoring the rehabilitation and modernization works of the Guelb 1 factory in Zouerate. This project will put a stone in the edifice that JESA and SNIM will build for a radiant industrial future for the region. June 22, 2021 – Casablanca, JESA today announced the signing of the technical assistance mission to monitor the rehabilitation and modernization works of the Guelb 1 factory, on behalf of SNIM. As part of this two-year contract from the placement of the lots with the beneficiaries, JESA will…

LafargeHolcim Côte d’Ivoire, leader in the construction materials industry and producer of the very famous Ciment Bélier, announces the appointment of Rachid YOUSRY as Chief Executive Officer. Computer analyst by training and holder of an MBA from the Ponts Business School in Paris, Rachid YOUSRY has more than thirty years of experience in Commerce and Logistics. He held major positions in various markets for companies such as Teleinfo 5, Unilever, AMS Baeshen, before joining the LafargeHolcim Group in July 2011. Mr. YOUSRY succeeds Xavier SAINT MARTIN TILLET, Managing Director West Africa, who has acted in this position since November 2020.…

The Financial Afrik newspaper publishes its special issue “Mauritanie, perspectives”. This 40-page special issue addresses the salient points of Mauritania’s development strategy, business environment reforms and investments likely to be made in PPP mode or even the stability of the banking and financial system through a exclusive interview with the governor of the Central Bank. To the analyzes of the experts on the legal environment of the private sector, the evolution of the agro-pastoral sector, the prospects of green hydrogen, are added the interviews with Kane Ousmane, Minister of Economic Affairs and the Promotion of the Productive Sectors , Mrs.…

Rabat, Morocco – OCP Group, the world’s largest phosphate mining and leading global fertilizer group, and IFC signed a milestone financing agreement. This partnership will help support OCP in expanding its value chain in Africa, as part of its effort to contribute to the economic development of the continent and to set up sustainable food systems in the region. IFC’s $100 million financing will help OCP Africa, a subsidiary of OCP, expand its logistics networks and increase the availability of fertilizers, adapted to local soils and crops, in Cote d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal, and Tanzania. The funds will…

Senegal and France concluded, on Friday June 25, 2021, a second agreement within the framework of the Debt Service Suspension Initiative (ISSD) launched in 2020 by the member countries of the G20 and coordinated by the Paris Club. , indicates a press release from the Senegalese Ministry of Finance. This agreement was signed by Mr. Abdoulaye Daouda DIALLO, Minister of Finance and Budget and His Excellency Mr. Philippe LALLIOT, Ambassador of France in Senegal. “The suspension agreement for the period from January to June 2021 covers an amount of CFAF 13.7 billion. It follows a first suspension over the period…

By H.M, international expert. Today, around 120 million tonnes of hydrogen are produced, 96% of which is from natural gas and coal by steam methane reforming and coal gasification. Green carbon-neutral hydrogen can serve as a next-generation sustainable energy carrier and can be stored and transported over long distances. Green hydrogen has the potential to complement other energy carriers such as electricity to assist in the decarbonization of the energy sector and the use of energy in end-use sectors such as transport, buildings and industry. Most of the hydrogen used today is generated from fossil fuels (gray hydrogen), making it…

Ashinaga Senegal, West Africa office of the Japanese non-profit organization Ashinaga, and the Inter-African Institute for Training in Insurance and Business Management (IFAGE) proceeded, Friday, June 18, 2021, in the premises of IFAGE in Dakar at the signing of a partnership for the granting of scholarships in order to strengthen their collaboration. IFAGE, the first private higher education institute specializing in insurance in the CIMA zone (Inter-African Conference on Insurance Markets) has set itself the task of contributing to the development of the financial sector of CIMA member countries. The institute offers numerous bachelor’s or master’s degree courses such as…

On Thursday, June 10, 2021, African Guarantee Fund inaugurated in Lomé, the head office of its West African subsidiary, AGF West Africa. This inauguration ceremony was held under the chairmanship of HE Mr. Faure Essozimna Gnassingbé, President of the Togolese Republic, represented by Mr. Kodjo Adedze, Minister of Trade, Industry and Local Consumption, in the presence of Mr. Felix Adahi Bikpo, Chairman of AGF and Chairman of the Board of Directors of AGF West Africa, Mr. Jules Ngankam, Group Ceo of AGF, Ms. Sibi Lawson, CEO by Interim of AGF West Africa, diplomatic representations and institutions Togolese banks. Designed by…

The Chairman of the Board of Directors of African Guarantee Fund (AGF) received the Lifetime Achievement 2021 award from the African Banker Awards, organized by African Banker magazine and IC Events. Flagship event of the year for African banks, the African Banker Awards are held each year during the general assemblies of the African Development Bank and bring together African and international leaders to distinguish bankers and financiers who are successful, create economic opportunities. for Africans and inspire new generations of bankers who help shape the continent’s future. This Lifetime Achievement Award rewards his entire career and the remarkable work…

The Board of Governors (BoG) of the African Capacity Building Foundation (ACBF), the African Union’s specialized agency for capacity development, holds its annual meeting on June 25, 2021. BoG is the governing body supreme director of the Foundation, whose role is to define the general policy and strategic orientations of the ACBF. The virtual meeting will be moderated by the Minister of Finance of the Republic of Ghana, H.E Ken Ofori-Atta, Chairman of the Board of Governors of ACBF. Governors will need to discuss the general state of the Foundation, the impact of the COVID-19 pandemic on its activities, and…

Via a publication on her Facebook profile this Monday, June 21, journalist Gaëlle Borgia said that populations in the south of the country, in the grip of extreme poverty, are forced to eat their shoes to survive. This information, questioned by local authorities and the World Food Program, ultimately seems to be “fake news”. In her publication of June 21, the journalist Gaëlle Borgia, international correspondent, in particular of France 24, in Madagascar directly challenged the President of the Republic by affirming that the misery of the population would force some to eat their shoes (zebu skin ). Given its…

The 2021 Annual Meetings of the African Development Bank Group opened on Wednesday, virtually, devoted the first discussions on African debt management. Several participants insisted on the need for internal reforms, debt restructuring and efficient international support to revive African economies and avoid over-indebtedness on the continent. Africa recorded its worst economic recession in the past 50 years in 2020 due to the Covid-19 pandemic. This pandemic has caused enormous financing needs of states, widened budget deficits and pushed into debt. In order to avoid the over-indebtedness that could push African economies into the abyss, the African Development Bank is…

On Wednesday May 26, 2021 in Abidjan, an agreement was signed between the Ivorian Federation of Small and Medium Enterprises (FIPME) and the Ivorian insurance consulting and brokerage company OPTIMUS. The Ivorian Federation of Small and Medium Enterprises (FIPME) was represented on this occasion by Dr Joseph BOGUIFO, Chairman of the Board of Directors and at OPTIMUS by Hermann N’ZI, Founder and CEO. The Ivorian Federation of Small and Medium Enterprises (FIPME) was created on September 28, 1995, at the initiative of the Ivorian State, with a view to representing all SMEs in the Ivory Coast. FIPME is the 1st…

The public “Marhaba” (welcome) campaign to welcome Moroccans living abroad (known as “MRE”) on the occasion of their summer returns has never carried its name so well and illustrated its original spirit. Traditionally located in Moroccan and European ports (Spain, France, etc.) to assist MRE during their road trip of several thousand kms and facilitate their access to the country of origin, the 2021 campaign offers them more than they do. could hope: to return to Morocco by plane at the cost of a coach! Thus and on royal instruction, the RAM (Royal Air Maroc) has been offering since June…

The Economic Commission for Africa (ECA) unveiled on Tuesday, June 22, 2021, the findings of a study entitled “Energy prices in Africa: Transition to clean energy for the industrialization of Africa”. The presentation, which was made at a virtual ministerial meeting, said 600 million people in Africa do not have access to electricity and 900 million do not have access to clean cooking fuel. Meanwhile, electricity access rates in 24 countries are below 50%. “There is no question that Africa will progress better if we do not invest adequately in energy and ensure affordable access for all,” said ECA Executive…

Lomé, 23 June 2021 – Ecobank Transnational Incorporated (“ETI”), the Lomé based parent company of the Ecobank Group, was hosted today by the London Stock Exchange for a market opening virtual ceremony to celebrate the successful listing of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) main market. This represents the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and is now listed on the main market of the London Stock…

Paris/ Nairobi, 23 June 2021 – Bpifrance and the Eastern and Southern African Trade and Development bank (TDB) announce the signing of a Memorandum of Understanding (MoU) which aims at building a mutually beneficial long-term relationship between both institutions, for the benefit of French and TDB Member States companies, with a focus on export activities. This cooperation agreement was signed by Isabelle Bébéar, Director Head of International & European Affairs at Bpifrance, and Admassu Tadesse, Group MD and President Emeritus of TDB, with the presence of the Ambassador of France to Kenya, H.E. Mrs. Aline Kuster-Menager. H.E. Mrs. Aline Kuster…

For evading the bi-weekly obligation to report to the police, the former Mauritanian president, Mohamed Abdel Aziz, was placed under a committal warrant and quarantined in a secure police residence due to the health context. Indicted in March following a report by a Parliamentary Commission of Inquiry relating to his ten-year reign (2009-2019), the former president, who was under house arrest, has repeatedly proclaimed his innocence and lean on article 93 of the Mauritanian constitution which makes it impossible, according to his lawyers, the judgment of any former custodian of the supreme magistracy with the exception of acts of high…

Paris, June 23, 2021 – The first issue of “Mon Heure d’Afrique” will be broadcast on Monday, June 28 at 10 a.m. GMT on the TV channel of the Financial Afrik group. The Franco-Beninese economist and former Prime Minister, Lionel Zinsou, co-founder of the pan-African bank SouthBridge, is the guest. The theme chosen for this program, broadcast in partnership with the Financial Afrik group, focuses on short, medium and long-term solutions to restart African economies after the Covid-19 health crisis that brought the planet to a halt. For an hour, Lionel Zinsou is questioned on the major current issues (vaccines,…