Finance

Niger, Nigeria
Abuja cosies up to Niamey to fight illicit financial flows

Nigeria, which hopes to be removed from the FATF's 'grey list' next year, is keen to revive cooperation with other states in the Chad basin to fight against financial crime and the terrorist groups.

Cameroon
More than one buyer keen on Commercial Bank Cameroon

There has been strong interests in recent weeks for the portion of shares the Cameronian state is selling in Commercial Bank Cameroon.

Cameroon
BGFI and Zenith Bank both in running to buy Société Générale's local subsidiary

Banque Gabonaise et Française Internationale and Nigeria's Zenith Bank have both expressed an interest in acquiring Société Générale's Cameroon subsidiary.

Senegal
Bassirou Diomaye Faye lobbies for Amadou Hott to take over as AfDB President

Senegal's president, Bassirou Diomaye Faye, recently approached the Heads of State of the African Development Bank's shareholder countries to declare his official support for Amadou Hott's candidacy to head the institution.

Central African Republic
Emirati oil company Tristar gets green light to supply commercial airlines

The MINUSCA supplier can now sell Jet A-1 fuel at Bangui airport.

DRC
Gécamines racks up hefty mission expenses bills

The DR Congo state-owned mining company has since April 2023 been using the services of a travel agency called Malabar Business Travel, which has billed it for several million dollars.

The New Guard
Africa, Morocco, Kenya

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

AfricaQatar's new head of African affairs make a splash

MoroccoNizar Abdallaoui Maane, from second-hand cars to Mohammed VI Fund

KenyaDebra Aroko, an award-winning documentary maker

Morocco
Bank al-Maghrib turns to Crane Currency again in fight against counterfeit money

Crane Currency, entreprise nord-américaine spécialisée dans la conception et la sécurisation des billets de banque, a été à la manœuvre du récent renouvellement des coupures de dirhams par la banque centrale marocaine.

Cameroon
Natixis cancels Paris meeting with Cameroonian delegation at last minute

French banks Natixis and Bpifrance cancelled a late September meeting in Paris with a delegation from Cameroon. The meeting had been scheduled to discuss a €590m motorway construction funding package for Yaoundé.

Senegal
Government weighs up €260m takeover of Société Générale subsidiary

Société Générale is trying to pull out of Senegal and the government is interested in taking over the local subsidiary of the French banking group.

Morocco
Guarantor doubts hold back $300m EBRD loan

Talks over a much-needed European Bank for Reconstruction and Development loan to Morocco's national electricity and water utility have hit a wall over the guarantee provider, a situation the finance ministry is actively trying to resolve.

Libya
Central bank makes progress in management crisis

Libya's various political players are expected to appoint a new interim governor to head the institution on 26 September. For UN representative Stephanie Koury, this represents a breakthrough in the highly complex negotiations.

The New Guard
Nigeria, Rwanda, Morocco

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

NigeriaFolawiyo Olajoku's rapid rise through homeland security

RwandaJuliana Kangeli Muganza steps into senior development role

MoroccoZineb Khayatei champions venture capital start-ups

West Africa
Tycoon Simon Tiemtoré hoping to buy stake in Novamed healthcare group

Simon Tiemtoré, a US businessman from Burkina Faso and founder of Lilium Capital, pan-African banking conglomerate Vista Bank's holding company, has entered into negotiations to buy the Novamed healthcare group.