In an analysis published on 12 June 2020, the international rating agency, Moody's, announced that it has placed Côte d'Ivoire's sovereign rating on review for a downgrade. According to the institution, this decision is strongly linked to the debt relief measures announced by the G20 countries, which could affect the private sector. Moody's fears that extending debt suspension measures to...

Strongly invested in a continental policy of solidarity, Mohammed VI once again concretized his commitment to African countries and ordered the distribution of medical aid to 15 countries on the continent, where more than 226,483 cases of coronavirus have been recorded. The donation goes to Burkina Faso, Cameroon, Comoros, Congo, Eswatini, Guinea, Guinea-Bissau, Malawi, Mauritania, Niger,...

Senegal’s incumbent operator Sonatel issues today June 15 a bond worth CFA100 billion on the financial market of the West African Economic and Monetary Union (WAEMU). The resources will be used to finance the company’s investment plan for this year, including the extension and modernization of its network as well as its migration into a multiservice operator. Sonatel wants to boost its data,...

For several days, some circles with links to the opposition have been spreading untruthful accusations and baseless rumours about the incarceration of Fouad Youssouf Ali at the Gabode Civil Prison. The Republic of Djibouti formally contests these "versions" circulating in certain media, including foreign publications. The Republic of Djibouti wishes to recall the facts, all the more serious in...

The Nigeria Communications Commission (NCC) signed a memorandum of understanding with the Federal Inland Revenue Service (FIRS), on 9 June 2020, to verify that telecoms companies are paying taxes. The tax agency -which no longer wants to be completely dependent on the operators' accounting books- will integrate an application programming interface (API) into their systems. “The API, which was...

Centum Investment, a Kenyan-based investment holding company that operates in the real estate sector (59% of its investments) and invests in companies and fixed return financial products, said it has a sufficiently strong cash flow to deal with the coronavirus. For its 2019/2020 fiscal year ended 31 March, the company said it has KSh9 billion in cash and marketable securities on the market...

The G5 Sahel will benefit from $20 million approved by the African Development Bank AfDB on June 9 to improve its response against the Covid-19. The financing will be injected into a pro-poor project managed by the UN High Commissioner for Refugees. According to AfDB, this financial support will help improve the resilience of vulnerable communities in the region, including internally...

China donates CFA360 million worth of medical equipment to help Niger respond to the coronavirus pandemic efficiently. The support consists of 10,000 test kits, 20,000 protective masks, 350,000 surgical bibs, 10,000 protective suits, 15,000 safety glasses; 15,000 pairs of disposable gloves, and 3,000 pairs of shoes. According to Laouan Magagi, Niger's Minister of Humanitarian Action and Disaster...

Malawi's commercial bank NBS Bank Plc, 54.62% owned by the financial services group Nico Holdings Limited, revealed in a briefing note that it expects its after-tax profit to be up by 50% in H1 2020, compared to the MWK2.08 billion in H1 2019. Despite the spread of covid-19 and its impact on the economy, the bank listed on the Malawi Stock Exchange claims to have performed well during...

The South African private equity firm Ethos and French Development Agency’s private sector arm -Proparco- announced an investment of $22 million to support the expansion plan of the Ethiopian retailer Turaco, which specializes in the manufacture and marketing of consumer products. Turaco is managed by 54 Capital PE Advisors. This mezzanine financing transaction, which combines capital...