Moroccan insurance group Wafa Assurance has begun to recover after a decline that started in 2020 and continued in the first quarter of 2021. The subsidiary of investment fund Al Mada reported revenues of MAD5.2 billion ($569 million) in H1 2021, up 11.9% YoY. The company’s life business grew by 19% YoY thanks to savings and pension products while the non-life business generated MAD2.4...

Algerian authorities arrested Tunisian politician Nabil Karoui yesterday August 29. The information was reported by local media sources. The 58-year-old man, owner of the TV channel Nessma, was accused by NGO I Watch of money laundering and banned from leaving Tunisia. He violated this restriction and got arrested in Algeria for "illegal residence". Sources say he was arrested with his brother...

The Burkinabe government announced last week it has set a new security plan to fight terrorism on its territory. The plan was presented last August 27 by both the Security Minister Maxime Koné and the delegate for Defense Aimé Simporé. Under this new approach, the country seeks to establish a better adapted territorial network with the reorganization of operational units and special treatment...

Participants of a G20 Compact with Africa meeting this week assessed Africa’s progress in fighting the Covid-19 pandemic. “We are meeting at a pivotal time in the relationship between Africa and the rest of the world,” said Italian prime minister Mario Draghi. [FAMILY PHOTO]: Heads of State and Government during the G20 Compact with Africa Summit held in Berlin, Federal Republic of...

Heads of international development institutions held a closed-door session with German Chancellor Angela Merkel on Thursday to discuss the uneven global economic recovery, access to vaccines, and strategies to drive a recovery from the Covid-19 crisis. Merkel was joined by the heads of the African Development Bank, World Trade Organization, the International Monetary Fund (IMF), the World Bank,...

The Covid-19 crisis has highlighted the need for countries around the world, especially African countries, to accelerate their digital migration strategies. As Africa is lagging, China agreed to give it a boost. Chinese Assistant Foreign Minister Deng Li (pictured) announced on August 24 his country will help Africa achieve its digital transformation. Speaking in Beijing during the China-Africa...

Less than a year after it entered into a strategic agreement with Atlas Mara to acquire its stake in Banque Populaire du Rwanda (BPR), Kenyan financial group KCB Group has announced it has completed the deal. Joshua Oigara's group is now the majority shareholder of BPR with a 62.06% stake. The deal received regulatory approvals, including green light from the relevant central banks, competition...

Since the Taliban took power, tens of thousands of Afghans have been fleeing their country. In Africa, Uganda and Rwanda have agreed to host them. Two hundred and fifty (250) Afghan schoolgirls are expected to land in Kigali this week, according to both Afghan and Rwandan sources. The refugees are members of the only boarding school for girls in Afghanistan -the School of Leadership of...

Francophone leaders and entrepreneurs have been holding since August 24, in Paris, the first meeting of Francophone entrepreneurs. As discussions continue to reach the common goal, Abidjan is asking to host the next edition. Abidjan could host the next edition of the Meeting of Francophone Entrepreneurs (REF). Speaking during the first edition, which started on August 24 in Paris, Ivorian Prime...

Côte d'Ivoire will receive $925 million in financing from the International Monetary Fund (IMF). This is the country’s share in the $650 billion worth of special drawing rights (SDRs) issued by the Bretton Woods institution last August 23. Côte d'Ivoire is thus receiving the largest share in the WAEMU ahead of Senegal, Togo, Benin, and Burkina Faso, and the second-largest within...