Finance

François Hollande on economic and security focused African tour

Wednesday, 01 July 2015 15:59

Accompanied by a delegation of about 50 businessmen, French president François Hollande begins this Wednesday 1st July a 2-day tour in 3 African countries: Benin, Angola and Cameroon. This lightning tour targets countries with which France has weakened relationships. The last visit from a French head of state to Benin dates back to 1983, 1999 for Cameroon and 2008 for Angola.

François Hollande's visit to Benin, which comes shortly after the nomination of the Beninese businessman Lionel Zinsou as the head of government, former speech writer for the current French chief of diplomacy Laurent Fabius, will be mainly focused on political relations. The French leader wishes to commend the strength of the democracy in Benin, especially as current president Thomas Boni Yayi has pledged to not seek a third term in 2016, in accordance with the constitution.

Mr Hollande will visit 2 sites hailed as models of the French - Beninese relationship: a French-Beninese research centre testing for a new vaccine against malaria and a small scale solar energy storage facility of the French group Bolloré.

In Angola, the second producer of crude oil in Africa, the stakes are essentially economic. The 50-odd delegation accompanying François Hollande is looking to generate contracts worth a billion of euros. The French petroleum group Total, which extracts 15% of its global crude from Angola, should be signing 2 important agreements, with one concerning the commercialization of solar lamps. Accor is looking to sign contracts for the construction of 50 hotels, whilst the civil and engineering group Eiffage is seeking to sign the delivery of 300 gateways/footbridges.

In Cameroon, Mr Hollande's visit will be officially centered on politics and security matters with the country playing a key role in the fight against the Nigerian armed Islamist group Boko Haram. The French president will also meet all the political parties and women heading NGOs. The Kribi port project would be part of the discussions.

Since 2012, François Hollande has visited fifteen or so sub-Saharan African countries, a sign of the growing interest for this region which is rich in natural resources and showing strong economic growth.

On the same topic
• Gabon lost $1.75 bn in tax exemptions over three years.• New exemptions suspended, audit and reforms underway.• Import tax relief targets food and...
• Nsia Banque to launch securitizations in 5 West African countries to fund SMEs• Securitization frees credit by converting receivables into securities•...
• IMF approves Burkina Faso’s third ECF review, unlocking $32.8M; total aid nears $131M• Growth hit 5% in 2024, seen slowing to 4.2% in 2025;...
Oasis Capital sold its 16.12% stake in Mansa Bank Côte d’Ivoire The exit marks the second divestment by Oasis Africa Fund I Mansa Bank’s...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Lion Group to explore and exploit gold, copper, and manganese in Algeria Malaysian firm plans...

Algeria, Lion Group sign mining and metals investment deal
03

Kenya tops African entries in 2025 IMD ranking at 56th globally. Botswana, Ghana, South Afric...

Six African Countries Rank Among Top Economies in 2025
04

Ucamwal plans three new funds in Côte d’Ivoire, including Halal and women-focused options Two...

United Capital to launch Islamic and women-focused funds in Côte d’Ivoire
05

• FAO and WFP list Sudan, Nigeria, DR Congo, and others as hunger hotspots through Oct. 2025• Armed ...

UN sounds alarm on rising food insecurity in eight African countries
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.