Captain Ibrahim Traoré, the man leading Burkina Faso since the September 2022 coup, suggested in a recent interview with Cameroonian journalist Alain Foka that his country might soon abandon the CFA franc as part of an effort to "break all ties that keep it in slavery." Recently, the country, along with peers Mali and Niger, has announced an immediate exit from the Economic Community of West...

In the aftermath of Burkina Faso's announcement of its withdrawal from the Economic Community of West African States (ECOWAS) on January 30, 2024, President Ibrahim Traoré hinted at the possible next step being a departure from the West African CFA franc (FCFA). Subsequently, Burkina Faso had to postpone a fundraising operation on the regional market, without providing specific...

The presidential election in Senegal initially slated for February 25, 2024, was canceled by President Macky Sall due to disagreements between the parliament and the Constitutional Council, sparking renewed protests since Sunday, February 4. In Senegal, the National Assembly has approved the postponement of the presidential election to December 15, 2024, according to the Senegalese Press Agency...

The indefinite postponement of the presidential election initially scheduled for February 25, 2024, has led to increased instability in Senegal. This situation arises as a growing gap emerges between the IMF's projections and the long-term sentiment of bond investors. Widespread unrest has gripped major cities in Senegal, including the capital Dakar, creating an atmosphere of uncertainty among...

Côte d'Ivoire successfully issued a $2.6 billion Eurobond in January this year, which Fitch Ratings believes will help alleviate financing constraints in the country and enable a restructuring of the national debt. Côte d'Ivoire's interest-to-revenue ratio is expected to decrease to 13.9% by 2025, compared to 14.8% in 2023, Fitch Ratings noted in its latest report on the country’s...

China's exports to African countries increased by 7.5% in 2023, while the opposite movement decreased by 6.7%. China and Africa traded $282.09 billion worth of goods in 2023, marking a 1.5% increase compared to 2022, the General Administration of Chinese Customs reported. Chinese exports to African nations rose by 7.5% to reach $172.78 billion in the past year, while Chinese imports...

The Board of Directors of the African Development Bank Group on 14th December 2023 approved a new five-year Country Strategy Paper (CSP) for Kenya. The 2024-2028 CSP focuses on boosting private sector-driven growth through infrastructure development, strategic reforms, and human capital development. The Bank's country office said these priority areas will complement each other and build on what...

KeysFinance Partners, partnering with a consortium of Ivorian investors through "NSI" investment vehicle, is delighted to announce the official acquisition of IMPACT SARL, a regional leader in the integration of SAGE solutions for SMEs and ETIs. NSI is committed to ensuring a smooth transition for IMPACT's customers, while preserving the culture of excellence and innovation that has...

AXIAN Investment, a leading investment firm committed to fostering African start-ups, announces two new deals. With Bfree, AXIAN confirms its willingness to keep investing in Nigeria. The Revfin deal, an innovative lending platform in India, is the latest in a series of strategic investments over the past few months. AXIAN’s investments continue to play a role in shaping the future of the...

The Ivorian government is pursuing its 2021-25 digital development strategy, which includes 32 reforms and a substantial investment of CFA2,000 billion. Ibrahim Kalil Konaté, the Ivorian Minister of Digital Transition and Digitalization, outlined the flagship projects for his department in 2024 during the New Year's wishes ceremony at the ministry on January 26. The main 2024 projects will...