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Finance

Cape Verde Prime Minister Jose Ulisses Correia e Silva. © Shannon Stapleton/Reuters

Cape Verde
Government looks to Caixa Geral de Depositos to restructure its debt

As Cape Verde struggles to pay off its creditors, the government led by PM Ulisses Correia is banking on the latest IMF report to allow it to contract new loans.

Subscribers only Finance, Business Running Story - Debt diplomacy 01.04.2021

Admiral Osama Mounier Mohamed Rabie, Chairman of the Suez Canal Authority. © AA/LP/Reuters

Egypt
The man who runs the Suez canal

Suez Canal Authority chairman Adm Osama Mounier Mohamed Rabie oversaw the refloating of the grounded megaship Ever Given. The SCA is backed by the Suez Canal Bank.

Subscribers only Finance, Business 31.03.2021

Egypt
Former minister Dalia Khorshid takes root in Mauritius with new consultancy business

Egyptian former investment minister Dalia Khorshid. © Reuters

Subscribers only Finance, Business 29.03.2021

Cape Verde, Europe
Cape Verde plays a delicate game with its European backers

Historically linked to Portugal, one of its main sources of financial support, Cape Verde has also relied on the European Union to buy its Covid-19 vaccines. It is now building bridges with other European countries, such as Luxembourg.

Free access Finance, Business 24.03.2021

Africa
Monaco Resources takes on a new debt to pay back another

To reimburse subscribers to a bond it issued in 2016, Monaco Resources subsidiary Agri Resources decided to issue another. This overlapping loans technique has already been used by the group.

Subscribers only Finance, Business 23.03.2021

Morocco
Moulay Rachid casts himself as aviation industry's business angel following Boeing deal

Morocco's Prince Moulay Rachid. © Thierry Monasse/Pool via REUTERS

Subscribers only Finance, Business Running Story - Makhzen Inc. 18.03.2021

Central Africa
Cybersecurity giants flock to BEAC with biometric solutions

MobiWire, Dermalog, Idemia, Veridium and Thales are among the firms interested in a contract with the Bank of Central African States (BEAC) to fingerprint holders of mobile payment account holders with telecoms operators in the region.

Subscribers only Finance, Business 18.03.2021

Rwanda
Kigali International Financial Centre headhunts among Rwandan diaspora

Faced with a shortage of qualified personnel for its new finance centre, the state-run Rwanda Finance has mounted a drive to recruit Rwandans living abroad, including in Belgium, the UK, Germany and the Netherlands.

Subscribers only Finance, Business 16.03.2021

Spotlight | Angola
Banco Sol struggles to shake reputation as MPLA's bank

Thrown back into the limelight by a recent report, Banco Sol's deep and long-standing ties with President João Lourenço's party are weighing heavily on the financial institution's attempts to brand itself as just an ordinary bank.

Subscribers only Finance, Business 11.03.2021

Coutinho Nobre Miguel, dubbed the MPLA's banker. He was the boss of Banco Sol until last year and remains a major shareholder.

Somalia
Hormuud Telecom tightens its grip on mobile banking

Telecoms giant Hormuud, which has been active in the sector since 2011, has won Somalia's first mobile banking licence.

Subscribers only Finance, Business 10.03.2021

Mauritius
Kasada, the hotel fund set up by Accor with Qatar, bounces back with investment vehicle

The Kasada hotel fund created a new investment vehicle in Mauritius at the end of February with the help of financial services provider Sanne.

Subscribers only Finance, Business 10.03.2021

Nigeria
Mauritius Commercial Bank sets up a local branch to boost its oil sector financing business

Mauritius Commercial Bank (MCB) is hoping to open a representative office in Nigeria in the course of the next six months.

Subscribers only Finance, Business 09.03.2021

Africa
Sawiris' offshore holdings keep Euronews afloat

TV news channel Euronews is not in great shape, particularly after the failed sale of Africanews. The European Commission plans to reduce its subsidy and the various loans from majority stakeholder Naguib Sawiris have not been enough to make the company self-sufficient.

Subscribers only Finance, Business 08.03.2021

Sawiris' holdings behind TV channel Euronews.

Inner Circle | Africa, France
AFD head mobilises his networks to boost agency's foreign policy profile

As the Agence Francaise de Dévelopement prepares to have its financial capacities increased by recently adopted development legislation, its head, Rémy Rioux, is putting his connections to work to convince African financial institutions to put greater emphasis on climate change in their development strategies.

Subscribers only Finance, Diplomacy 05.03.2021

Mauritius, South Africa
South African furniture heir sets up shop in Mauritius

Kevin Ellerine, the son of the South African furniture magnate, has new investment projects in the pipeline through a firm set up in Mauritius in February. He is meanwhile continuing to manage the family fortune along with his cousin Dionne Ellerine and his uncle Eric Ellerine.

Free access Finance, Business 04.03.2021

Tunisia
Mabrouk brothers, financial backers to the state with BIAT

Without Banque Internationale Arabe de Tunisie (BIAT), co-owned by Mohamed Ali, Ismaïl and Marouane Mabrouk, finance minister Ali Kooli would not have been able to balance his budget. At the same time, Marouane Mabrouk wants to close the chapter on the seizure of his 51% share in Orange Tunisie.

Subscribers only Finance, Business 04.03.2021

South Africa
Wealth managers reassure their clients after government's tax announcements

South Africa's main asset managers have been putting their wealthy clients' minds at rest: there will be no tax increases for 2021. However, the regularisation of illegal offshore structures remains a point of concern.

Subscribers only Finance, Business 03.03.2021

Eritrea
Qatar National Bank sues Asmara for $280m

After attempting a path through the British courts in 2018, the Qatari state bank has turned to the United States to try and recover sums lent to Eritrea more than a decade ago.

Subscribers only Finance, Business 03.03.2021

Libya
IsDB plans its return to Tripoli

The Islamic Development Bank (IsDB) is actively preparing to open a branch in Tripoli. It has been actively looking for a representative who would report to their regional office in Rabat.

Subscribers only Finance, Business 03.03.2021

Ivory Coast
Chinese bank ICBC deserts San Pedro university project

Industrial and Commercial Bank of China, the main financier of the future University of San Pedro, has abruptly withdrawn from the project, forcing the pan-African group Envol Immobilier of Madani Tall and Moctar Thiam to turn to Nigeria's UBA and Ivorian lender BNI.

Subscribers only Finance, Business 01.03.2021

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Finance

Cape Verde
Government looks to Caixa Geral de Depositos to restructure its debt

Egypt
The man who runs the Suez canal

Egypt
Former minister Dalia Khorshid takes root in Mauritius with new consultancy business

Cape Verde, Europe
Cape Verde plays a delicate game with its European backers

Africa
Monaco Resources takes on a new debt to pay back another

Morocco
Moulay Rachid casts himself as aviation industry's business angel following Boeing deal

Central Africa
Cybersecurity giants flock to BEAC with biometric solutions

Rwanda
Kigali International Financial Centre headhunts among Rwandan diaspora

Spotlight | Angola
Banco Sol struggles to shake reputation as MPLA's bank

Somalia
Hormuud Telecom tightens its grip on mobile banking

Mauritius
Kasada, the hotel fund set up by Accor with Qatar, bounces back with investment vehicle

Nigeria
Mauritius Commercial Bank sets up a local branch to boost its oil sector financing business

Africa
Sawiris' offshore holdings keep Euronews afloat

Inner Circle | Africa, France
AFD head mobilises his networks to boost agency's foreign policy profile

Mauritius, South Africa
South African furniture heir sets up shop in Mauritius

Tunisia
Mabrouk brothers, financial backers to the state with BIAT

South Africa
Wealth managers reassure their clients after government's tax announcements

Eritrea
Qatar National Bank sues Asmara for $280m

Libya
IsDB plans its return to Tripoli

Ivory Coast
Chinese bank ICBC deserts San Pedro university project

The weekly summary

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

About Africa Intelligence

Subscription

Indigo Publications' websites

Ibrahim Traoré

Virtus Minerals

Paul Kagame

Savannah Energy

Denis Sassou-Nguesso

Finance

Cape Verde Government looks to Caixa Geral de Depositos to restructure its debt

Egypt The man who runs the Suez canal

Egypt Former minister Dalia Khorshid takes root in Mauritius with new consultancy business

Cape Verde, Europe Cape Verde plays a delicate game with its European backers

Africa Monaco Resources takes on a new debt to pay back another

Morocco Moulay Rachid casts himself as aviation industry's business angel following Boeing deal

Central Africa Cybersecurity giants flock to BEAC with biometric solutions

Rwanda Kigali International Financial Centre headhunts among Rwandan diaspora

Spotlight | Angola Banco Sol struggles to shake reputation as MPLA's bank

Somalia Hormuud Telecom tightens its grip on mobile banking

Mauritius Kasada, the hotel fund set up by Accor with Qatar, bounces back with investment vehicle

Nigeria Mauritius Commercial Bank sets up a local branch to boost its oil sector financing business

Africa Sawiris' offshore holdings keep Euronews afloat

Inner Circle | Africa, France AFD head mobilises his networks to boost agency's foreign policy profile

Mauritius, South Africa South African furniture heir sets up shop in Mauritius

Tunisia Mabrouk brothers, financial backers to the state with BIAT

South Africa Wealth managers reassure their clients after government's tax announcements

Eritrea Qatar National Bank sues Asmara for $280m

Libya IsDB plans its return to Tripoli

Ivory Coast Chinese bank ICBC deserts San Pedro university project

The weekly summary

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Cape Verde
Government looks to Caixa Geral de Depositos to restructure its debt

Egypt
The man who runs the Suez canal

Egypt
Former minister Dalia Khorshid takes root in Mauritius with new consultancy business

Cape Verde, Europe
Cape Verde plays a delicate game with its European backers

Africa
Monaco Resources takes on a new debt to pay back another

Morocco
Moulay Rachid casts himself as aviation industry's business angel following Boeing deal

Central Africa
Cybersecurity giants flock to BEAC with biometric solutions

Rwanda
Kigali International Financial Centre headhunts among Rwandan diaspora

Spotlight | Angola
Banco Sol struggles to shake reputation as MPLA's bank

Somalia
Hormuud Telecom tightens its grip on mobile banking

Mauritius
Kasada, the hotel fund set up by Accor with Qatar, bounces back with investment vehicle

Nigeria
Mauritius Commercial Bank sets up a local branch to boost its oil sector financing business

Africa
Sawiris' offshore holdings keep Euronews afloat

Inner Circle | Africa, France
AFD head mobilises his networks to boost agency's foreign policy profile

Mauritius, South Africa
South African furniture heir sets up shop in Mauritius

Tunisia
Mabrouk brothers, financial backers to the state with BIAT

South Africa
Wealth managers reassure their clients after government's tax announcements

Eritrea
Qatar National Bank sues Asmara for $280m

Libya
IsDB plans its return to Tripoli

Ivory Coast
Chinese bank ICBC deserts San Pedro university project