The Banker, one of the leading professional magazines in the financial sector, has awarded Rawbank the prize for “Bank of the Year” in the Democratic Republic of Congo.The award is a proud moment for the bank, and testimony to the quality and value of its services provided inthe country. “This award is a special recognition, as it testifies to the expertise of our teams but also to the...

During a ministerial council last August, the Ivorian government decided to launch a public tender process to sell part of its 14.95% stake in Orange CI. The operation was launched on November 30, 2022. In the end, the state will retain only a 5% stake and a seat on the board of directors.   Côte d'Ivoire launched the public offering of part of its Orange CI stakes yesterday, November...

After the coronavirus pandemic, telecom consumers’ needs have greatly changed. To keep up with the challenge, telecom operators are investing heavily to meet current and future needs and be competitive in the coming years.  Kuwaiti telecom group Zain announced, Wednesday (Nov 30), it would invest US$800 million in its Sudanese operations over the next five years. The investment aims to...

The Algerian stock market contributes only marginally to the economy. So far, only four companies are listed on its main market and only one on the SMEs window. Last Wednesday, Yazid Benmouhoub, director general of the Algiers Stock Exchange, announced the upcoming launch of a window to support the development of startups.  "The Algiers Stock Exchange is fine-tuning the creation of a...

Islamic banks and Sukuk account for 60% of Islamic finance assets in the region.  Also, the Sharia-compliant investment funds’ assets under management are growing rapidly, in South Africa especially.   From US$8 billion in 2020, Islamic finance assets reached US$10 billion in Sub-Saharan Africa in 2021, according to a report recently released by the Islamic Corporation for the...

The mining sector contributes nearly 10% of Mali’s GDP and accounts for almost 80% of its exports. Due to its importance to the economy, transition authorities have launched an audit of its gold mines, where its main mineral resources are exploited. Mali has temporarily suspended the issuance of mining licenses, the Ministry of Mines informs in a release issued last November 28. According to...

Liquid Intelligent Technologies wants to become the leading Internet service provider in Africa in a context marked by accelerated digital transformation. To achieve its goal, the company is establishing a presence in the continent’s largest telecom markets.   Tech solutions group Liquid Intelligent Technologies announced the launch of its Nigerian operations yesterday, November 28....

Equity Group and Kenya Commercial Bank are value stocks in the African financial sector. Despite their sound performance, their stock values are declining, presenting an opportunity for investors from seven African regions since the markets are now interconnected.   From January to November 28, 2022, NSE-listed Equity Group (Equity) and Kenya Commercial Bank (KCB) were down by 13.4 and 17%...

Pursuing the hybrid strategy it adopted in 2022, Cameroon plans to organize operations on the BVMAC -the Central African Stock Exchange- and the BEAC’s financial market for its budget needs in 2023, even though the BEAC offers more favorable terms. Cameroon plans to raise XAF450 billion (US$710.7 million) by issuing public securities in 2023, according to the 2023 finance bill submitted to...

Remittances from the Egyptian diaspora have become a major source of foreign exchange earnings in Egypt, ahead of exports, Suez Canal, and tourism revenues as well as foreign direct investments. Egypt is planning an investment company to capture part of the diaspora savings and direct them to productive investment projects, business media Asharq Business announced last Friday citing state...