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...

The third edition of the Cyber Africa Forum (CAF) will be held at the Sofitel Abidjan Hotel Ivoire (Abidjan, Côte d'Ivoire) on April 24 and 25, 2023. It will focus on issues and solutions related to the digital transformation of African companies and businesses. In addition, emphasis will be placed on the promotion of multisectoral and transnational partnerships in digital security. Organized...

According to the GSMA, only 40 percent of the adult population has access to the internet in Sub-Saharan Africa. The low penetration rate is due, among other things, to the high costs of smartphones. MTN Rwanda announced “Macye Macye",  a program to finance the acquisition of smartphones and tablets. The program implemented in partnership with the Bank of Kigali (BK) aims to provide...

The country made it to Africa’s top 5 countries that secured the most private equity financing because of a declining volume of overall private equity raised in Africa and a successful raise by Wave Mobile. With about US$97 million raised in Q3-2022, Senegal was the third country with the highest private equity funding in Africa. According to a Techcabal report,  Senegal attracted more...