The Société Tunisienne de Banque (STB) has been green-lighted by the Financial Market Council, the Tunis Stock Exchange regulatory body, to increase its capital to 652.57 million dinars (approximately US$ 330 million). The operation, which is within the framework of the recapitalisation of the public bank, will be materialised by the issuance of 130,515,000 shares at the price of 5.800 dinars...

Tough times for the press in Senegal. There was this brief custody, on 14 July 2015, of the chief editor of the daily L’Observateur, Alioune Badara Fall, and his colleague, the journalist Mamadou Seck. Brought to court, they came back on 15 July. On the same day, the chief editor of the newspaper Quotidien, Mouhamed Guèye, was taken into custody and referred to the Office of the Public...

Wafa Assurance Vie Cameroun S.A., Cameroonian subsidiary of the Moroccan Wafa Assurance, officially received their approval on 8th July by the Cameroonian ministry of Finance. The new company which target is to develop the life insurance market in Cameroon by relying on the SCB distribution network, banking subsidiary of the Attijariwafa Bank group, has already been given the green light by the...

The Board of the Maghreb Arabe Presse news agency (MAP) approved the management and financial report for the year 2014. The performance of the Moroccan news agency were put forward. The General Director, Khalil Hachimi Idrissi, presented the assessment of the activities outlining a production increase. MAP is now publishing over 530 dispatches per day, as opposed to 294 in 2011. This is a growth...

In Cameroon, the television channel Canal 2 International is again in the dock for “promoting of homosexuality”. A letter was addressed to the CEO of this private media, Eric Fotso (pictured) by the Cameroonian League of consumers (LCC). “Your channel has been broadcasting, for some time, a series titled “Double Jeux”. The episode shown on Tuesday 07th July and again the following day,...

The Togolese state has just granted the Cameroonian economic operator Simon Pierre Ndjeng, introduced as boss of the Togolese subsidiary of the Spanish company Modul System, the authorisation to build university campuses in the cities of Lomé, the capital and Kara, in the north of the country, disclosed the business and economic affairs newsletter La Lettre du Continent. Moreover, we learn that...

The oil and gas company Tower Resources Plc is getting ready to sign a Production Sharing Agreement(PSC) in which it will hold 100% shares in the Thali block, in the Rio Del Rey basin in the Niger Delta oil sub-basin in the Cameroon Offshore. The oil company, listed in London, announced on 15th July the imminence of the signing of this agreement which has been approved by the Cameroonian...

In Tunisia, the threat was finally carried by the Audiovisual Communication Independent High Regulatory Authority (HAICA). This 15th July 2015, the institution seized the equipment of two television channels (Tounesna TV and Zitouna TV) and the Holy Quran Radio. These private media, which operated without licences, were thus obliged to stop broadcasting. They had so far turned a deaf ear to the...

Générale des Carrières et des Mines (Gécamines SA) signed, on 21 June, a framework-agreement of strategic cooperation with China Nonferrous Metal Mining Co. Ltd (CNMC), a Chinese company headquartered in Beijing. The signing of this agreement comes as part of the development of mining projects of the DR Congo national company and would help define the principles of the future cooperation...

Mr Henri-Marie DONDRA, Managing Director of FAGACE and Mr Appolinaire COMPAORE, Chairman of the Board of Alpha Télécommunication Mali (ATEL Mali), signed a guarantee agreement on the creation of a new telecommunication network in Mali. Worth FCFA 4 billion, which is 40% of the loan to be mobilised by ATEL-Mali from the West African Development Bank (BOAD), this agreement will enable the...