Finance

Nigeria
EU to release aid for Maiduguri after deadly floods

The natural disaster in the north-eastern state of Borno occurred when a dam broke following torrential rain.

Sahel
Budapest wants Sahel on EU agenda

Viktor Orbán is president of the Council until December and would like to see Brussels tighten ties with the countries of the Sahel.

Spotlight | DRC
Incendiary Banque Centrale du Congo audit gathers dust

Three years on from an audit report on the bank, the investigation into alleged embezzlement within the institution has stalled. Africa Intelligence has been able to access the document that gave rise to the affair.

Kenya
Regulator battles to curb Gachagua-friendly Kenya Tea Development Agency

The country's leading tea consortium, which enjoys the support of the deputy president, has come under fire from the Tea Board of Kenya. Meanwhile, William Ruto has launched an investigation into alleged embezzlement at the KTDA.

Ivory Coast
Abidjan to turn page on miners' tax breaks

Mining companies active in Ivory Coast are worried about plans to end various fiscal exemptions.

Africa
AU-EU partnerships to hold follow-up meeting in Brussels

Following up on commitments made in 2022, the gathering is due to take place this Friday in Brussels.

The New Guard
Botswana, Somalia, Benin

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

BotswanaFund manager Bame Pule, a discreet adviser to president Masisi

SomaliaBarkhad Kaariye, speaking on behalf of Somaliland

BeninLéonce Hamza Houngbadji, founder of Africa Solutions Week

West Africa
Two Vista Bank mainstays exit group

The pan-African banking group has just lost two of its mainstays: Stéphane Ouédraogo and Thierry Hott. Ouédraogo and Hott are both well-connected in the sub-region, and had shared their contacts with Vista Bank.

Equatorial Guinea
French court thwarts claim by Malabo's Cypriot creditor

The Cypriot company Chantway Trading Limited, headed by Russian businessman Andrey Borisenko, will not seize Malabo's real estate assets in Paris.

Morocco
Rabat and Abidjan to make military cooperation official

After months of negotiations, Morocco and Ivory Coast are about to sign a military deal that will increase synergy between their two armed forces.

Ethiopia
At the heart of IMF programme, Commercial Bank of Ethiopia under pressure

Ethiopia's largest bank is to receive almost $700m for a recapitalisation operation that comes with a complete overhaul of its risk management system. The introduction of environmental, social and governance standards into the country's banking sector as a whole is still in its infancy.

Algeria, Mauritania
Algerian Union Bank's rocky start in Nouakchott

The Algerian Union Bank's Mauritanian branch is struggling to achieve its targets a year after its arrival. Despite President Abdelmadjid Tebboune's support, business with Algerian firms wanting to move into the country has been slow.