Finance

Senegal
From an ex-IMF boss to JP Morgan, Dakar looks to financiers to fill gap in cash resources

At a time when Senegal has urgent revenue issues, the government is working on raising funds at both a domestic and international level while also trying to obtain renewed support from the IMF.

The New Guard
South Africa, Kenya, Cameroon

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

South AfricaSechaba Thole, SANPC's new finance man

KenyaPatrick Mbelle, backing youth and the maritime economy

CameroonMeinna Gwet, the woman behind Ecobank's major financing projects

Niger
Niamey requests extension of IMF programme

Faced with a tense financial situation, the junta led by General Abdourahamane Tchiani would like to extend an agreement between his country and the International Monetary Fund until the beginning of 2026.

Ethiopia, Ivory Coast
The AfDB calls on Interpol to recover missing €4.8m

In cooperation with the AfDB's director of anti-corruption, Paula Santos Da Costa, Interpol investigators are trying to recover the annual fee owed by Ethiopia, which disappeared at the end of 2023.

Ivory Coast
JP Morgan courts the state on commodity risk hedging

The US bank is in talks with the government to offer financial products to hedge against commodities trading risks.

Kenya
The Treasury's wavering position upsets Kenya Airways restructuring plans

The Kenyan airline, still largely under public ownership, is still looking for potential buyers. However, the government's shifting strategy casts doubt on its future shareholder structure.

Africa
A tense succession for head of Afreximbank Benedict Oramah

After a decade as chairman of the pan-African bank, Nigerian Benedict Oramah will be handing over the reins at the end of June. Two contenders are in the running for the post at a time when the institution is in a precarious financial position.

Kenya
Ruto's close advisors sceptical on the future of Hustler Fund

The head of state does not seem ready to abandon the youth and small business programme that bears his hallmark. But in a constrained budgetary context, more and more voices are being raised to reform the microcredit fund.

Cape Verde
Ecobank puts pressure on Ponta Sino hotel complex

The British group Decameron New Horizons is scrambling to open a luxury hotel on the island of Sal. Meanwhile, the pan-African Ecobank, the project's main financier, is seeking to sell its debt to rival companies already well-established locally, without the developer's knowledge.

Ethiopia
French firms remain sceptical about pace of Abiy's reform programme

Exchange rate liberalisation, the main condition for Ethiopia to get an extended credit facility from the IMF, has not yet fully borne fruit. Foreign companies, already among the country's largest taxpayers, have to pay a high price for their foreign currency.

Libya
Approval of €11bn in favour of Haftar clan debilitates Central Bank

The speaker of parliament has decided to approve a budget to be allocated to Belkacem Haftar's Reconstruction Fund in a move that compromises the position of the LCB chief.