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Finance

Saf cacao, an export firm in San-Pedro, Ivory Coast. © Thierry Gouegnon/Reuters

Ivory Coast
SAF's unpaid debt now the "Enron" of the cocoa industry

Five years after SAF Cacao went bankrupt, its accumulated €158m in debt owed to 11 banks remains outstanding. The creditors have formed an underwriting banking syndicate but have struggled to mortage SAF's new owner SACC's assets. SACC is run by a high official in the ruling RHDP party.

Subscribers only Finance, Commodity traders, Business 15.03.2022

BMCE Bank of Africa boss Othman Benjelloun. © David Rodrigues/Story&Brands

In Focus | Africa, Morocco
Banking magnate Othman Benjelloun settles his succession in Casablanca and Luxembourg

Othman Benjelloun, chairman and CEO of BMCE Bank of Africa, has completed the reorganisation of his holding company O Capital, with its twin head offices in Morocco and Luxembourg. The handover of his fortune to his heirs has been settled but the future of his bank, the group's flagship, remains uncertain.

Subscribers only Finance, Business 14.03.2022

South Africa
With UES liquidated, Absa should recover part of the millions sunk in the Ogies project

Absa Bank has scored a victory in the South African courts. Uwoyela Environmental Services (UES), to which the bank had lent about $3m for an unsuccessful oil project, is to be liquidated

Subscribers only Finance, Energy 14.03.2022

Equatorial Guinea
Malabo finally gets one over on Cameroonian businessman Yves-Michel Fotso

After more than ten years of a legal battle that has cost it dearly, Equatorial Guinea has finally salvaged something from the wreckage at the Paris Court of Appeal against Groupe Fotso.

Subscribers only Finance, Business 11.03.2022

South Africa
With millions tied up in Ogies, Absa wants Terry Rosenberg to pay

The South African bank, a creditor of one of Durban's most famous businessmen, will have its application to liquidate Uwoyela Environmental Services heard today by the High Court of South Africa.

Subscribers only Finance, Energy 04.03.2022

Tunisia
Saied looks to liquidate BFT to sidestep ICSID arbitration

Tunisian president Kaïs Saïed. © John Thys/Pool/EPA/MaxPPP

Free access Finance, Business 24.02.2022

Morocco, West Africa
British CDC quietly breaks alliance with Moroccan BCP

The British developement agency has co-invested in West Africa along with the Moroccan Central People's Bank since 2017 but now wants to sell its stake in their joint holding company, which controls the West African financial group Banque Atlantique.

Subscribers only Finance, Business 22.02.2022

Morocco
Horizon clears in Carlyle-Rabat dispute over Samir as ICSID arbitration suspended

On 3 February, ICSID suspended arbitration proceedings between US investment fund Carlyle and Morocco at the request of both parties.

Subscribers only Finance, Energy 21.02.2022

Morocco
South Africa's Sanlam teams up with IRG Real Estate to launch its own property firm

Sanlam Pan Africa is entering the real estate investment market alongside one of the Moroccan specialists in this sector, which has been expanding rapidly in the Kingdom over the past two years.

Subscribers only Finance, Business 14.02.2022

Tunisia
IDB throws its weight behind Tunis's African exports drive

Tunisia is being shunned by most major international lenders, but it can still rely on the Islamic Development Bank, which continues to back projects in the country. The institution, whose largest single contributor is Saudi Arabia, intends to push trade development with the rest of the continent.

Subscribers only Finance, Business 31.01.2022

Congo, Rwanda
Kagame's fund Crystal Ventures to set up shop near Brazzaville

The concession deal for the Maloukou industrial zone should be signed by 31 March with the Rwandan investment fund Crystal Ventures, the financial branch of Paul Kagame's Rwandan Patriotic Front party.

Subscribers only Finance, Business 27.01.2022

Algeria
Tebboune seeks to breathe new life into the privatisation of public banks

The privatisation of state-owned banks, which was a real headache during the Bouteflika era, is back on the agenda for President Abdelmadjid Tebboune.

Subscribers only Finance, Business 26.01.2022

West Africa
OECD prepares to enlist banks in fight against gold fraud

Recognising that high banking fees are among the factors contributing to illegal gold trafficking, particularly in the west of the continent, the OECD plans to shortly engage in discussions with financial institutions and governments in the region.

Subscribers only Finance, Mining 25.01.2022

Zimbabwe
Morgan Stanley and Mitsubishi bet on Prospect Resources' battery metals operations

Australian Prospect Resources may have just shed its flagship Zimbabwean lithium project to China's Zhejiang Huayou Cobalt, but this hasn't deterred investors Mitsubishi and Morgan Stanley from betting on the junior's future battery metals projects.

Subscribers only Finance, Mining 25.01.2022

Ivory Coast, Mauritius
Ex-AfrAsia founder Ben Padayachy helps Bernard Koné Dossongui make his Indian Ocean splash

The BNP, Barclays, Standard Bank, and AfrAsia Bank veteran is working to structure the Ivorian magnate's assets in Mauritius, Madagascar, and the Comoros.

Free access Finance, Business 25.01.2022

Djibouti
Sovereign Fund's management treads water

Following the dismissal of the managing director of the Sovereign Fund of Djibouti in the second quarter of 2021, the fund's board meetings have become a rarity and its management structure is hazy.

Subscribers only Finance, Politics 25.01.2022

DRC
Kinshasa orders Afriland to pay treasury millions levied on transporters

The DRC subsidiary of a Cameroonian bank stands accused of illicitly retaining fees that were supposed to finance rail network improvements.

Subscribers only Finance 21.01.2022

Africa, France
A future French fund for investing in Africa's mines?

In order to ensure France's supply of critical metals, a report submitted to the French government on 10 January recommends that the country should create a fund to take minority shares in mines. It sees Africa as a key territory.

Subscribers only 13.01.2022

Gabon, Morocco
Marc Kreiker and Kim Oun take on Bongo family business in Morocco

Private banker Marc Kreiker and Gabonese presidential adviser Kim Oun have been appointed directors of two investment funds set up in Casablanca by the brother-in-law of Gabonese President Ali Bongo. Several offshore companies in Tangier could follow.

Subscribers only Finance, Business 11.01.2022

President Ali Bongo and his wife Sylvia Bongo at UNESCO's 75th anniversary, in Paris, France, 12 November 2021.

Libya
With €280m at stake, Siba Plast case gets complicated for LIA

This month, the Libyan sovereign wealth fund will attempt to have the seizures initiated by Siba Plast in Paris invalidated. The little-known Tunisian company is claiming €280m for a contract to restructure the judicial police, which was never executed.

Subscribers only Finance, Business 04.01.2022

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Finance

Ivory Coast
SAF's unpaid debt now the "Enron" of the cocoa industry

In Focus | Africa, Morocco
Banking magnate Othman Benjelloun settles his succession in Casablanca and Luxembourg

South Africa
With UES liquidated, Absa should recover part of the millions sunk in the Ogies project

Equatorial Guinea
Malabo finally gets one over on Cameroonian businessman Yves-Michel Fotso

South Africa
With millions tied up in Ogies, Absa wants Terry Rosenberg to pay

Tunisia
Saied looks to liquidate BFT to sidestep ICSID arbitration

Morocco, West Africa
British CDC quietly breaks alliance with Moroccan BCP

Morocco
Horizon clears in Carlyle-Rabat dispute over Samir as ICSID arbitration suspended

Morocco
South Africa's Sanlam teams up with IRG Real Estate to launch its own property firm

Tunisia
IDB throws its weight behind Tunis's African exports drive

Congo, Rwanda
Kagame's fund Crystal Ventures to set up shop near Brazzaville

Algeria
Tebboune seeks to breathe new life into the privatisation of public banks

West Africa
OECD prepares to enlist banks in fight against gold fraud

Zimbabwe
Morgan Stanley and Mitsubishi bet on Prospect Resources' battery metals operations

Ivory Coast, Mauritius
Ex-AfrAsia founder Ben Padayachy helps Bernard Koné Dossongui make his Indian Ocean splash

Djibouti
Sovereign Fund's management treads water

DRC
Kinshasa orders Afriland to pay treasury millions levied on transporters

Africa, France
A future French fund for investing in Africa's mines?

Gabon, Morocco
Marc Kreiker and Kim Oun take on Bongo family business in Morocco

Libya
With €280m at stake, Siba Plast case gets complicated for LIA

The weekly summary

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

About Africa Intelligence

Subscription

Indigo Publications' websites

Faure Gnassingbe

Orano

Michaël Randrianirina

China National Petroleum Corp

Hassan Sheikh Mohamud

Finance

Ivory Coast SAF's unpaid debt now the "Enron" of the cocoa industry

In Focus | Africa, Morocco Banking magnate Othman Benjelloun settles his succession in Casablanca and Luxembourg

South Africa With UES liquidated, Absa should recover part of the millions sunk in the Ogies project

Equatorial Guinea Malabo finally gets one over on Cameroonian businessman Yves-Michel Fotso

South Africa With millions tied up in Ogies, Absa wants Terry Rosenberg to pay

Tunisia Saied looks to liquidate BFT to sidestep ICSID arbitration

Morocco, West Africa British CDC quietly breaks alliance with Moroccan BCP

Morocco Horizon clears in Carlyle-Rabat dispute over Samir as ICSID arbitration suspended

Morocco South Africa's Sanlam teams up with IRG Real Estate to launch its own property firm

Tunisia IDB throws its weight behind Tunis's African exports drive

Congo, Rwanda Kagame's fund Crystal Ventures to set up shop near Brazzaville

Algeria Tebboune seeks to breathe new life into the privatisation of public banks

West Africa OECD prepares to enlist banks in fight against gold fraud

Zimbabwe Morgan Stanley and Mitsubishi bet on Prospect Resources' battery metals operations

Ivory Coast, Mauritius Ex-AfrAsia founder Ben Padayachy helps Bernard Koné Dossongui make his Indian Ocean splash

Djibouti Sovereign Fund's management treads water

DRC Kinshasa orders Afriland to pay treasury millions levied on transporters

Africa, France A future French fund for investing in Africa's mines?

Gabon, Morocco Marc Kreiker and Kim Oun take on Bongo family business in Morocco

Libya With €280m at stake, Siba Plast case gets complicated for LIA

The weekly summary

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Ivory Coast
SAF's unpaid debt now the "Enron" of the cocoa industry

In Focus | Africa, Morocco
Banking magnate Othman Benjelloun settles his succession in Casablanca and Luxembourg

South Africa
With UES liquidated, Absa should recover part of the millions sunk in the Ogies project

Equatorial Guinea
Malabo finally gets one over on Cameroonian businessman Yves-Michel Fotso

South Africa
With millions tied up in Ogies, Absa wants Terry Rosenberg to pay

Tunisia
Saied looks to liquidate BFT to sidestep ICSID arbitration

Morocco, West Africa
British CDC quietly breaks alliance with Moroccan BCP

Morocco
Horizon clears in Carlyle-Rabat dispute over Samir as ICSID arbitration suspended

Morocco
South Africa's Sanlam teams up with IRG Real Estate to launch its own property firm

Tunisia
IDB throws its weight behind Tunis's African exports drive

Congo, Rwanda
Kagame's fund Crystal Ventures to set up shop near Brazzaville

Algeria
Tebboune seeks to breathe new life into the privatisation of public banks

West Africa
OECD prepares to enlist banks in fight against gold fraud

Zimbabwe
Morgan Stanley and Mitsubishi bet on Prospect Resources' battery metals operations

Ivory Coast, Mauritius
Ex-AfrAsia founder Ben Padayachy helps Bernard Koné Dossongui make his Indian Ocean splash

Djibouti
Sovereign Fund's management treads water

DRC
Kinshasa orders Afriland to pay treasury millions levied on transporters

Africa, France
A future French fund for investing in Africa's mines?

Gabon, Morocco
Marc Kreiker and Kim Oun take on Bongo family business in Morocco

Libya
With €280m at stake, Siba Plast case gets complicated for LIA