Finance

Morocco
Belgium forks out €30m for regions hit by earthquake

The government's development agency Enabel is helping regions hit by last September's earthquake.

Morocco
Automaker Stellantis prepares to buy Al Mada's automotive subsidiary

The multinational automotive giant is negotiating the purchase of the royal holding company's shares in its retail vehicle distribution subsidiary, Sopriam.

The New Guard
Burundi, Angola, Nigeria

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

BurundiNestory Irankunda takes Burundian roots to Bayern Munich

AngolaMárcio Daniel, new minister of tourism

NigeriaWale Lawal, up-and-coming media entrepreneur

Nigeria
Abuja steps up efforts to get off the FATF 'grey list'

Nigeria is eagerly awaiting the next report from the Financial Action Task Force (FATF). Abuja has taken a number of initiatives since it was place on its 'grey list' in February 2023.

Morocco, Senegal
Banque Centrale Populaire aims to develop microcredit business in Senegal

The Senegalese subsidiary of Moroccan microfinance group AMIFA is set to join microcredit platform Sunu Nafa,

Madagascar
Julien Coffinier, head of Ravinala Airports, quits Groupe ADP

The current managing director of the company that runs Ivato International Airport in Antananarivo is leaving to join the competition.

Madagascar
World Bank and IMF called in to rescue Madagascar's finances

President Rajoelina has had no choice but to turn to the Bretton Woods institutions to bail out the country's economy, burdened largely by debt and subsidies to the oil and utilities sectors.

Central African Republic
Tamoil petrol stations taken over as CAR's fuel crisis continues

Amid a major fuel shortage in the Central African Republic, Energy Minister Arthur Bertrand Piri decided to requisition six Tamoil petrol stations and give three of them to Prisca Mamadou, an influential businesswoman and wife to the head of the country's armed forces.

DRC, Morocco
Shareholder ructions at Auplata Mining Group

A minority shareholder has launched legal action against the management of the AMG mining firm. Its boss, Luc Gérard Nyafé, is meanwhile understood to have lodged a complaint against former executives and an ex-lawyer of the Paris-listed firm.

Nigeria
Nigerian ministers to attend EU business forum

It will be the first time the forum has been held in Abuja.

Algeria, Mauritania
Algiers deploys soft power in Nouakchott

Algeria's cultural ambassadors are gearing up for the 17th Assalamalekoum Festival in mid-June.

Spotlight | Ethiopia
How Meridiam's $2bn geothermal project ran out of steam

Work on the vast scheme in the Oromia region has been at a standstill for almost a year and is now set to be abandoned for good. Africa Intelligence dissects a far from isolated case of project failure as attacks in the region call into question the government's security strategy there.

Congo
Lucien Ebata plans for the survival of Forbes Afrique

In 2022, the oil trader and owner of the Forbes media franchise for French-speaking Africa entrusted the management of the publication to a French company he is not a shareholder of.

The New Guard
DRC, Sudan, Ghana

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

DRC Noëlla Ayeganagato Nakwipone, young but not inexperienced minister

Sudan Mohamed Sigeir, pharmacist and central to Taqaddum coalition

Ghana Nana Kwasi Barning Ackah, key cocoa mediator

Central African Republic
Paris mulls resuming financial aid to Bangui

France may restore financial aid to the Central African Republic, four years after freezing it because of the influence of the Russian paramilitary firm Wagner in Bangui. An agreement due to be signed by the two states later this year would release €10m.