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BANKING AND FINANCE

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ANGOLA UNITED ARAB EMIRATES Business Investments funds 05/06/2020

Golden boy of Angolan finance N'Gunu Tiny adds Emirati string to his bow

N'Gunu Tiny, founder of Emerald Group. ©Ngunutiny.com

MOZAMBIQUE Finance 04/06/2020

EximBank's $4.7bn loan to Total's project on Block One: the inside story

US export promotion agency EximBank took seven long years to validate the financing for Total's LNG project in Mozambique. It took no account, however, of US group ExxonMobil, which is involved in Block 4. Here's why. [...]

DRC Business Mining 03/06/2020

Congo's Kennesy Brouwers joins the virtual gold rush

Congolese businessman Kennesy Brouwers. ©DR

Umaru Mutallab in 2013 with then Nigeria's President Goodluck Jonathan. ©Reuters

Inner circles NIGERIA Business Banks 01/06/2020

Dantata, Dangote, Indimi: the oligarchs behind billionaire Umaru Mutallab's Jaiz Islamic bank

MAURITIUS Politics Offshore finance 29/05/2020

Port-Louis enlists lobbying firm Avisa to polish its image in Europe

Less than four months after making its legislation compliant with the OECD's tax avoidance convention, Mauritius is ready to flaunt its certified virtuosity with the help of public affairs firm Avisa. [...]

ANGOLA Business Finance 28/05/2020

IMF calls for settlement of overindulgent dos Santos-era loans

As the IMF starts the third review of its Angolan programme, João Lourenço's administration is working overtime to seek repayments on the state-owned bank BPC's bad credit, now all held with Recredit. [...]

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Banking and finance

IVORY COAST Business Finance 28/05/2020

Nightmarish week for Ivorian customs

In mid-May, the community solidarity duties levied by Ivorian customs for ECOWAS and UEMOA were blocked at BCEAO instead of being transferred to state coffers, which was a source of increasing irritation for the Ivorian Treasury. [...]

LIBYA Business Finance 26/05/2020

Tripoli Central Bank of Libya governor Al Kabir loses closest ally Tarik Yousef Al Megarief

Libyan "paymaster" Al Seddik Omar Al Kabir has lost the support of his right-hand man. Tarik Yousef al Megarief is now campaigning against Al Kabir on the central bank's board. [...]

NIGERIA Business Finance 25/05/2020

Segun Aina, president of the parapublic fund Odu'a Investment.

Veteran banker Segun Aina makes a comeback via Odu'a Investment

Having put his career as a bank director on hold and moving into fintech, banker Segun Aina has bounced back as head of Odu'a Investment. [...]

INDIA MAURITIUS Business Finance 22/05/2020

Indian billionaire Ajay Piramal, head of Piramal Group.

Piramal family makes good use of new tax favours

The Indian government's decision last month to reduce taxes for companies based in Mauritius is to be accompanied by lower transparency requirements. The venture capital firm IndiaRF, a JV between the family-run Piramal and Bain Capital, immediately took advantage of the move. [...]

BOTSWANA Diplomacy Finance 22/05/2020

Gaborone readies its negotiators to keep off EU blacklist

Brussels has warned Botswana that it may add the country to its list of third countries with weak money-laundering and terrorist financing regimes on 1 October, sending Gaborone's officials and diplomats into overdrive. The fallout could be huge for Botswana whose economy depends heavily on exports to the EU. [...]

SOUTH AFRICA Business Fintech 21/05/2020

Cryptocurrency: Covid-19 pandemic prompts Binance to move into Africa

Having set up shop in Ugandan and Nigeria, Binance, one of the world's largest crypto trading platforms, is lobbying hard in South Africa. The crypto industry there enjoys support from President Cyril Ramaphosa's son, who has a passion for digital assets. [...]

Inner circles NIGERIA Business Investments funds 19/05/2020

Future Africa fund and Nigeria's golden youth seek Lagos Valley investors

With investors pulling out left, right and centre amid the Covid-19 pandemic, financier Iyinoluwa Aboyeji and his well-to-do partners at Future Africa are looking to Lagos' affluent circles for new sources of cash. [...]

Inner circles ZIMBABWE Business Banks 15/05/2020

Strive Masiyiwa, the London-based Zimbabwean finance, tech and telecom mogul.

AU-feted mobile money magnate Strive Masiyiwa vilified by Harare

The African Union may have appointed him to tackle the coronavirus pandemic across the continent, but Strive Masiyiwa does not enjoy the same level of confidence from authorities in his native Zimbabwe. The country's central bank has clipped the wings of EcoCash, Masiyiwa's mobile money business, which plays a key role in the country's economy. [...]

WEST AFRICA Business Banks 14/05/2020

BNP gives up on idea of single buyer for its West African portfolio

After six months of trying to sell its branches in Mali, Burkina Faso and Guinea as a single West African portfolio, the French bank BNP Paribas is now looking at options to sell them in batches. [...]

MOROCCO Business Banks 14/05/2020

Troubled times for Adil Douiri's private CFG Bank

Adil Douiri's private CFG Bank has hit turbulence. The RCAR pension fund's share purchase may offer a lifeline after its unsuccessful conversion into universal hybrid bank. This is without counting on internal divisions as director Souad Benbachir leaves her administrative seat. [...]

MOROCCO Business Fintech 13/05/2020

Fintech: Maroc Télécom struggles as mobile money boss disembarks and new app flops

The national operator Maroc Télécom has just sacked Mehdi Housni, chief executive of its specialist subsidiary MT Cash, just as the country's late mobile money roll-out is hampering its response to the coronavirus crisis being led by Mohammed VI. [...]

ANGOLA Politics Finance 08/05/2020

Former President José Eduardo dos Santos created the public company Recredit in 2016 to take care of the toxic claims of the PCB.

Unrepaid Dos Santos era loans risk becoming an economic fragmentation bomb

Choked as it is by the fall in oil prices, Angola is already dangerously exposed to the risk of being unable to reimburse its private debt. Its finances have been complicated by another problem, however. [...]

IVORY COAST Business Investments funds 07/05/2020

Jean-Louis Ekra has launched his own investment fund, Ayipling Morrison Capital.

Ex-Afreximbank boss Jean-Louis Ekra launches own investment fund

The Ivorian businessman has decided to pay little heed to the current economic climate and opened up his own private equity business, Ayipling Morrison Capital, on 16 April. [...]

Spotlight AFRICA CHINA UNITED STATES Business Investments funds 05/05/2020

Barack Obama and Jack Ma at an APEC meeting in the Philippines in November 2015/

When Trump confronts China head on, Obama teams up with Alibaba

While the Covid-19 pandemic has exasperated already strained relations between the Trump administration and Beijing, Barack Obama has taken a step in the opposite direction. His foundation quietly sought out the Chinese tech giant Alibaba to work on mutual projects in Africa. [...]

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BANKING AND FINANCE

Golden boy of Angolan finance N'Gunu Tiny adds Emirati string to his bow

EximBank's $4.7bn loan to Total's project on Block One: the inside story

Congo's Kennesy Brouwers joins the virtual gold rush

Dantata, Dangote, Indimi: the oligarchs behind billionaire Umaru Mutallab's Jaiz Islamic bank

Port-Louis enlists lobbying firm Avisa to polish its image in Europe

IMF calls for settlement of overindulgent dos Santos-era loans

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Mayor of Antananarivo gets capital's waste disposal debt cancelled

Nightmarish week for Ivorian customs

Tripoli Central Bank of Libya governor Al Kabir loses closest ally Tarik Yousef Al Megarief

Veteran banker Segun Aina makes a comeback via Odu'a Investment

Piramal family makes good use of new tax favours

Gaborone readies its negotiators to keep off EU blacklist

Cryptocurrency: Covid-19 pandemic prompts Binance to move into Africa

Future Africa fund and Nigeria's golden youth seek Lagos Valley investors

AU-feted mobile money magnate Strive Masiyiwa vilified by Harare

BNP gives up on idea of single buyer for its West African portfolio

Troubled times for Adil Douiri's private CFG Bank

Fintech: Maroc Télécom struggles as mobile money boss disembarks and new app flops

Unrepaid Dos Santos era loans risk becoming an economic fragmentation bomb

Ex-Afreximbank boss Jean-Louis Ekra launches own investment fund

When Trump confronts China head on, Obama teams up with Alibaba

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