Ecobank

Ivory Coast
Leading security firm Siga Sécurité entangled in legal battle

A main player in Ivory Coast's security sector, the company is caught up in a legal embroilment with its former French stakeholder.

Ethiopia
Central bank sounds out foreign investors before opening up sector

The National Bank of Ethiopia has sent out a first draft of its directive on the criteria for access to the Ethiopian banking market. But this long-awaited reform is now being met with some reservations.

Gabon
Algest Consulting discreetly advises government on debt

The consultancy's boss, Ivorian banker Ibrahim Magassa, has just finished reprofiling Gabon's debt. On 25 March, he also organised a meeting between the main regional bankers and President Oligui Nguema.

Gabon
Brice Clotaire Oligui Nguema launches a vast reprofiling of public debt

The transitional president is preparing an exchange of debt securities to postpone this year's financial deadlines. The operation, worth more than FCFA 1,000bn, must be completed before the 12 April presidential election.

Chad
Mahamat Idriss Déby lobbies hard for his AU Commission candidate

The president is using all his diplomatic resources to try to secure the post of Commissioner for Economic Development at the African Union for his personal choice: Amine Idriss Adoum. He's aiming to rally the Central African states behind this sole candidate.

Inner circles | Congo, Ivory Coast
Banker Ibrahim Magassa dispenses financial advice from Abidjan to Brazzaville

At the comparatively young age of 44, the French-Ivorian banker has established himself as a leading adviser to indebted states, initially to Ivory Coast and then to Congo and Ghana. He can rely on a solid network of contacts in Paris, not least at the investment bank Rothschild.

DRC
DRC Congo banks consolidate oil company debt repayment mechanism

The financial package this time involves $282m from the massive subsidy lines for petroleum products designed to keep pump prices in check.

DRC
Ecobank appeals as legal battle between Moise Katumbi and Pascal Beveraggi rumbles on

The Congolese subsidiary of the pan-African bank has been ordered to pay $5.5m in compensation to the French businessman's companies. All told, it risks having to pay more than $10m.

Palace Intrigues
Denis Sassou-Nguesso, Nadia Fettah, Rachida Dati

Intrigues big and small – every Thursday, Africa Intelligence takes a peek into the corridors of power in Africa and beyond.

Republic of CongoSassou hosts VIP bankers in Oyo stronghold

MoroccoReluctant Nadia Fettah reappointed finance minister

MadagascarRachida Dati clashes with collections curator over royal relics

DRC
Kinshasa turns to private banks to repay oil companies

Banks are reactivating a financial package tested in 2023 and which helped avoid a fuel crisis so the Congolese government can repay $385m in subsidy arrears to oil operators.

DRC
The drilling contracts scandal that's causing embarrassment all the way to the presidency

President Félix Tshisekedi was initially enthusiastic about new solar-powered water pumps and street lighting, but the contracts have given rise to violent score settling in the presidential entourage amid accusations of overcharging.

Ivory Coast
Ouattara tasks Hamed Cissé with developing banking sector strategy

The employers' federation boss will be looking at ways of boosting the sector.

Congo
Investment group L'Archer Capital seals alliance with auditing giant RSM France

The Congolese investment group L'Archer Capital has signed a strategic partnership with auditing giant RSM in a bid to reach new markets, while RSM is pursuing its own development strategy on the continent.

Gabon
Gabon's overly discreet VP Joseph Owondault Berre in the hot seat

Appointed in the early days of Brice Clotaire Oligui Nguema's regime, Vice-President Joseph Owondault Berre has struggled to establish himself, with several members of the Transitional Council thinking of parting company with him.

Ivory Coast
BICICI boss hires banker Charles Kié

Chairman Ahmed Cissé has recruited the former Ecobank executive to revamp the strategy of the partly state-owned Banque Internationale pour le Commerce et l'Industrie de Côte d'Ivoire.

Ivory Coast
BNI Finances fires managing director Georgine Codo

Georgine Codo, managing director of BNI Finances, the investment bank of the Banque Nationale d'Investissement group, was quietly sacked in mid-December.