Finance

Somalia
Mogadishu prepares for the return of its development bank

First established in 1968 and then abandoned, the Somali Development and Reconstruction Bank was revitalised in 2024 and will be making its first investments this year. The authorities are currently seeking to attract international funds.

DRC
Kinshasa seeks to firm up ambitious Plan Nkita 2035

Despite his second term being overshadowed by the conflict in the east, President Tshisekedi and his government are elaborating a plan to transform the country's economy over the next decade. One of the aims is to ensure that the future Kinshasa Mercantile Exchange lives up to its full potential.

Africa
Consultancy takes part in AfDB presidency recruitment process

Hannah Ryder, managing director of Development Reimagined, is due to meet the figures vying to take over the reins of the African Development Bank.

Palace Intrigues
Ousmane Sonko, Tony Elumelu, Alassane Ouattara

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

SenegalSonko's wife Anna Diamanka pays incognito visit to Paris

NigeriaUBA boss Tony Elumelu's evening at Palais Garnier cancelled

Ivory CoastAlassane Ouattara's private trip to France

Tanzania
As elections approach, embassies wary of return of surprise tax demands

The diplomatic community in Tanzania has taken up the issue of unannounced tax audits, which hit companies during the last local elections. Yet the tax commission appointed by President Samia Suluhu Hassan, which was supposed to clarify the legal position, has been slow to deliver its conclusions.

Madagascar
Tana awaits $75m from the World Bank for aviation sector

The World Bank will vote in May on a $75m subsidy to boost civil aviation in Madagascar.

The New Guard
Nigeria, Ivory Coast, Morocco

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

NigeriaMark Okoye II, Bola Tinubu's financial arm in the South East

Ivory CoastLinda Pathinvo Abihona, a bridge between Ivorian startups and Silicon Valley

MoroccoIlyas El Maliki, leader of Moroccan streaming

Morocco
Attijariwafa Bank to set up shop in Kenya

Well established in West Africa, the leading Moroccan bank is now looking to expand its footprint on the continent, starting with Nairobi.

Ivory Coast
Société Générale's results fall short

Société Générale Côte d'Ivoire has published its results for 2024, the first year under new CEO Patrick Blas. Although net profit was up by 4%, this year's results fell short of the targets set.

DRC
War in the East makes DR Congo banks fret about local branches

Prime Minister Judith Suminwa Tuluka has received representatives of the Congolese banking sector, who are worried their branches in conflict-hit eastern DRC might be looted and want them reopened as soon as possible.

Tunisia
Tunis cuts ties with IMF

As President Kais Saied believes that the International Monetary Fund is interfering in the country's economic affairs, Tunisia has decided to cut off all contact with the international institution.