Finance

Libya
Belgian royal family wins €38m from LIA in Luxembourg

The Luxembourg appeal court has ordered HSBC to transfer the Libyan assets it is holding to the non-profit trust owned by Prince Laurent of Belgium. Other Luxembourg banks could also be targeted.

Ivory Coast
Atlantic gets new banking boss as BPCI buyout nears completion

Bernard Koné Dossongui, an influential figure on the African banking scene, has handed over the banking activities of Atlantic Financial Group to his number two. Meanwhile, the group is finalising its acquisition of BPCI bank from the Ivorian government.

Botswana
Gaborone bags World Bank green subsidies

President Mokgweetsi Masisi's administration is soon to receive $3.5m from the World Bank for green consultancy services.

The New Guard
South Africa, Egypt, Togo

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

South AfricaZanele Mbuyisa, the #MeToo lawyer who might shake up the entire continent

EgyptSeif Thabet, the businessman who stands up to the military

TogoEstelle Komlan, first woman to head a trading room in WAEMU zone

Uganda
Kampala relies on new loan to build rail line to Malaba

Uganda is preparing to borrow $2.6bn from UK Export Finance to start laying track between Malaba and Kampala. Construction is due to start in September.

Egypt
Plans for European investors' conference resurface

Europe's foreign policy chief Josep Borrell plans to organise an investment summit in Egypt. The EU's 27 member states hope to please an indispensable ally in the fight against illegal migration.

DRC
Ecobank caught up in battle between Pascal Beveraggi and Moise Katumbi

Two senior Ecobank DRC executives have been arrested in connection with the dispute between Octavia, a company owned by French businessman Pascal Beveraggi, and Astalia Investment, controlled by Moise Katumbi.

Ivory Coast, Mali
Goïta calls on Ouattara to obtain financial support from BCEAO

Bamako is under economic pressure and is asking Abidjan for help in lifting certain measures imposed by the Central Bank of West African States (BCEAO).

Nigeria
Tinubu reforms imperil Ebury and Wema Bank's forex business model

For the last year, the British and Nigerian partners have been helping foreign companies, among them France's TotalEnergies, to repatriate their profits in naira to Europe. But the liberalising of Nigeria's foreign exchange market could harm this lucrative line of business.

Libya
LIA seeks to recover rent from frozen Parisian assets

As part of a drive to raise funds, Libya's sovereign fund has filed another request to recover the rent from its properties in France - assets which are currently frozen.

The New Guard
Nigeria, Guinea, Uganda

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

Nigeria Wale Ayeni, African startup financier

Guinea George Nekeon Mamy, Conakry's economic asset in DC

Uganda Resty Namanda, rising star of the Ugandan bar