Finance

The New Guard
Burkina Faso, Kenya, DRCongo

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

Burkina Faso Roland Yago, the financier ranking West African banks

Kenya Shikoh Kihika, an 'artivist' fighting tribalism

DRC Eric Mukuma, afterlife and environmental entrepreneur

Ethiopia
Addis lays groundwork for new stock exchange

Addis Ababa wants its stock exchange: The Ethiopian administration is seeking external consultants to assist the newly established Ethiopian Capital Market Authority, tasked with creating a regulatory framework for the country's future stock market.

Ivory Coast
BICICI's new shareholders appoint their Ivorian directors

Each of the BICICI's new Ivorian shareholders has appointed two or three directors to represent it on the bank's newly constituted board.

Morocco
RMA Capital International changes chairman

The resignation of the Moroccan company's chairman Zouheir Bensaid in February has prompted its owner, RMA, to replace him in a number of positions he held in its top management.

Zambia
Hichilema set to meet Macron in Paris

The French government is currently planning for an official visit to Paris by the Zambian head of state, Hakainde Hichilema.

Ivory Coast
Afreximbank picks PR firm Concerto for its Ivory Coast branch

The French PR firm Concerto is set to head up institutional communications and carry out some PR work for Afreximbank's Ivory Coast branch.

Kenya
World Bank grants extra $117m for education reform

The World Bank has granted additional financing of $117m for the Kenya Primary Education Equity in Learning Program (KPEELP), which is currently being implemented by the Kenya education ministry.

Morocco
Ithmar Capital lobbies European Union

Moroccan investment fund Ithmar Capital joined the EU's transparency register in December 2022 with its sights set on climate policy.

DRC
Public debt has nearly doubled under Tshisekedi

The DRC's public debt has risen from $5.6bn to $10bn since Felix Tshisekedi came to power four years ago. The number of new projects has increased sharply, while budget arrears have continued to accomulate.

East Africa
Plot thickens in Helin International money laundering investigation

In a case involving allegedly misappropriated funds from the wealth management fund being investigated in several jurisdictions, it has emerged that Russian-Swiss investor Aleksei Korotaev recently attempted to capture assets from these Helin International accounts, despite being scrutinised by US investigators.

Africa
Hackers spread panic amongst African banks

African banks including Banco Sol & Bank of Africa have been targeted by cyber attacks recently. The hackers have threatened to make their data public, a threat which worries those in power who are clients of the banks.

Ivory Coast
BNP Paribas pulls out of Ivory Coast

BNP Paribas's management will leave is Ivorian branch Banque Internationale pour le Commerce et l'Industrie de Côte d'Ivoire (BICICI) on 15 February, after it was purchased by the Ivorian state in September.