The first investment vehicle launched by Microtraction was focused on four countries. This one will invest all over Africa, with pre-seed startups as its target.  Early-stage venture capital firm Microtraction recently announced the first close, at US$15 million, of its second fund,  Microtraction Community Limited. The investment vehicle aims to make at least 60 commitments in African...

In 2021, Moroccan banking groups were controlling one-fifth of the WAEMU banking market, which is led by pan-African Ecobank and French group Société Générale. At end 2021, the WAEMU bank market was mainly controlled by Morrocan groups. Those groups (namely Attijariwafa Bank Banque Centrale Populaire and Bank of Africa) were controlling 21.7% of the market. Despite their dominating position,...

Over the past ten years, the Ghanaian Cedi has been shaken by international market fluctuations while the CFA Franc has enjoyed relative stability due to its pegging to the Euro. The situation revives debates around the relevance of a floating exchange rate system in most African countries that are not yet able to produce enough goods to ensure self-sufficiency to some extent. The CFA Franc, the...

The Russia-Ukraine war has negatively impacted Africa, which largely depends on wheat from both countries.  In June 2022, an African Union delegation traveled to Russia to meet President Vladimir Putin, for possible avenues to curb those impacts.  The first grain shipment under the agreement signed by several parties -Russia, Ukraine, Türkiye, and the UN- last June, left Ukraine for...

The withdrawal ends nine years of military cooperation to fight terrorism. It is in compliance with a decision to reorganize the Barkhane military mission.  The last detachment of the Barkhane anti-jihadist force has left Mali, the French Ministry of Armed Forces announced on Monday, August 15.  "Today [...], the last military unit of the Barkhane Force present on the Malian territory...

Last year, Egypt and Sudan approved several measures to strengthen their trade relations. The measures seem successful because, according to the Egyptian government, trades with Sudan have exceeded the US$1 billion mark.  Trade flows between Egypt and Sudan reached US$1.165 billion, up by 60% year-on-year, the Egyptian Ministry of Trade revealed in a release published on Wednesday, August...

The three main U.S. rating agencies’ decision to downgrade Ghana’s debt to the speculative category raises questions about the relevance of those ratings.  Truly, the West African country is facing challenges but the rating downgrade is all but unquestionable.  The credit default swap - the risk premium demanded by investors to protect themselves against default risks- on the debt...

With the acquisition, Chimera becomes the majority shareholder of the EGX-listed financial holding.  UAE-based investment firm Chimera Investments LLC announced, Tuesday (August 9), the completion of a majority stake acquisition in Egyptian financial services company Beltone Financial Holding. To acquire a 55.9% stake in the financial holding, Chimera, which manages a diversified portfolio...

A few years ago, Côte d’Ivoire initiated a hospital construction and renovation program to improve the quality of healthcare in the country. The program is supported by various partners.  Côte d’Ivoire will invest more than US$74.9 million in the construction of two hospitals in the north. According to an official release, the construction works were launched last Tuesday, August 9,...

The fintech portal is launched months after the central bank partnered with investment manager CDG Invest to facilitate the development of Moroccan fintech startups.  The Moroccan Capital Market Authority (AMMC) announced Monday (August 8), the launch of a new fintech portal on its website. According to an official release published by the regulator, the portal was “designed to support...