The South African Rand which lost 19% against the US dollar should regain value by the end of this year, analysts of Absa Bank (precedently Barclays Africa) think according to a report by Bloomberg. The experts explain that the capital flight experienced by South Africa would come to an end. Indeed, the government raised the maximum investment institutional investors (pension...

At the end of the 2017/2018 cocoa campaign, Côte d’Ivoire’s cocoa producers generated CFA1,356 billion, Lambert Kouassi Konan (photo), president of the country’s cocoa-coffee council, announced during the national cocoa and chocolate day (Journées nationales du cacao et du chocolat -JNCC) held in Abidjan from September 28 to October 3. Summarising the campaign, the official indicated...

This year, Guinea-Bissau’s economy which stabilized around 6% between 2015 and 2017 will drop to 3.8 %, due to the decrease of cashew nut production in the country. This was revealed by IMF after a mission conducted from September 19 to October 2 in the country. According to the fund, lower cashew nut exports should contribute to the rise of the 2018 budget deficit that should represent...

Mohamed Mouctari Moustapha Tahi, the humorist from Niger better known as Mamane le Gondwanais (photo), is planning to launch an international campaign on renewable energies in Niger, with his comedian friends’ support. He announced this yesterday after an audience with the Nigerien president. “I will fully commit myself to sensitizing people on the use of solar energy in Niger”, he...

On October 26-27, the second edition of Les Panafricaines, the forum of African women journalists, will be held in Casablanca, Morocco. This year, the debates, animated by Radio 2M, will be held around the theme of migrants’ images in the media. The choice of migration as the theme of the present edition was made according to the recommendations of the 100 women journalists who took part...

Though the air transport sector represents less than 1% of premiums subscribed in the non-life segment of insurance services in Africa, local actors think it has growth potential and are inviting regulators to limit the stake non-Africans could acquire in the sector. Actually, large reinsurance groups based notably in London capture 90% of the premiums issued in that sector. According to the...

In a document paper published on October 3, 2018, World Bank CUT its 2018 Sub Saharan African growth forecast from 3.1% to 2.7% due notably to slower economic growth in the largest economies in the region. “The slower pace of the recovery in Sub-Saharan Africa ... is explained by the sluggish expansion in the region's three largest economies, Nigeria, Angola, and South Africa”, the bank...

The International Finance Corporation (IFC) will link 100 promising African entrepreneurs with company managers, international investors and financial institutions. These entrepreneurs will be selected next December during a forum in Egypt. Those selected will be provided funding facilities for their projects and coached to facilitate the extension of their activities in new markets. This...

Yesterday, the Moroccan sugar company Cosumar announced that it acquired a 55% stake in Compagnie maroco-guinéenne de sucre (COMAGUIS). The transaction whose amount has not been revealed, makes the Moroccan company, the major stakeholder of COMAGUIS along with the Guinean company SOGECILE which will now own 45% stake in the company. The transaction will allow COMAGUIS to have a production...

Tanzania, Ghana, and Uganda will be the next drivers of high growth in the mobile money sector, Citi Group reveals in a report on the evolution of mobile money service in the world. Along with Kenya, these countries rank among the top 10 in terms of the penetration rate of this payment service (40% to 70%). Though the penetration rate is high in these countries, there is still room for...