Finance

DRC
Kabila associate fights US fund FG Hemisphere over Maryland property freeze

Francis Selemani Mtwale is fighting to retain several luxury properties acquired between 2015 and 2018 in the US state of Maryland.

Africa
Vista Bank bid for Byblos Bank Europe fails

The banking group founded by Simon Tiemtoré has suffered a setback in its European expansion strategy. Its takeover bid, although well advanced, was ultimately blocked by the board of directors of the Brussels-based institution it sought to acquire.

Nigeria
EU preparing to offer €10m military aid to Abuja

Funds from the European Peace Facility could soon be used to support the Nigerian army, which is struggling to deal with jihadist groups. Such assistance is already in place in Benin, Ivory Coast and Senegal.

Central African Republic, Chad
IMF keeps disbursements to N'Djamena and Bangui on hold

The IMF reiterated that the frozen tranches will remain on hold until all CEMAC countries have signed their own programmes with the Washington-based institution.

DRC
Kinshasa spares no expense to back players in 2026 World Cup

Having already lavishly rewarded its national team for qualifying for the World Cup, the Congolese authorities now want to build on that success by mobilising substantial financial resources.

DRC
CENI electoral commission still severely cash-strapped

According to its annual report, CENI only raised half the money it asked for last year, which meant it had to cancel several local elections. It must also contend with increasingly ageing infrastructure.

Palace Intrigues
Robert Beugré Mambé, Wale Edun, Faustin-Archange Touadéra

Intrigues big and small: every Thursday, Africa Intelligence takes a peek into the corridors of power in Africa and beyond.

Ivory CoastPrime Minister Robert Beugré Mambé gets ready to tie the knot

NigeriaFinance minister tipped to attend Paris anti-terror summit

Central African RepublicFranco-Ivorian banker Ibrahim Magassa invited to Touadéra's inauguration

DRC
Glencore puts up $60m to settle tax dispute

With this payment, the Swiss trading giant brings to an end a tax dispute linked to alleged insurance fraud that had been dragging on for several years.

DRC
IGF financial watchdog's new strategy comes aground

The head of the Inspection Générale des Finances has withdrawn his agents from state-owned companies and public institutions, opting instead for a "systemic" approach to monitoring government financial flows. This approach is hitting up against significant technical hurdles.