West African Economic and Monetary Union

Ivory Coast
Porteo construction firm boss Hassan Dakhlallah moves into banking

The Ivorian businessman has already expanded into construction, industry and agribusiness, and is now stepping up the diversification of his group. He is setting up a bank, a project he has entrusted to former BGFIBank Côte d'Ivoire chief Malick Ndiaye.

Ivory Coast
State firms press banks to repay more than €10m after audit flags irregular charges

A 2023 government-commissioned audit has uncovered several billion CFA francs in what were deemed irregular deductions from the accounts of major state-owned companies. The banks involved have yet to refund the sums demanded, despite repeated requests from company chiefs.

Senegal
Dakar asks France and EU to help fund its peace and security forum

France and the EU, which are long-standing sponsors of the event to be held on 20 and 21 April, have yet to respond to Senegal's requests.

The New Guard
Nigeria, Niger, Central African Republic

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

NigeriaAyo Sopitan, trader turned miner

NigerSalim Gado, Tchiani's ambitious right-hand man

Central African RepublicWilliam Ndjapou, the rising adviser

West Africa
WAEMU's financial markets authority paralysed

The West African Economic and Monetary Union's capital‑markets regulator has been unable to convene its board.

West Africa
WAEMU succession battle against backdrop of AES crisis

The departure of Togolese Badanam Patoki from the presidency of the Financial Markets Authority of the West African Economic and Monetary Union has reopened a succession battle within the institution, this time pitting Niger against Benin.

Ivory Coast
Lomé serves as low-key mediator in the UEMOA crisis

After three months of conflict between Abidjan and the AES countries, Burkinabe Minister of Finance Aboubakar Nacanabo was finally able to assume the chairmanship of the UEMOA Council of Ministers on 6 October.

Senegal
BCEAO circular sparks outcry among expat workers

European chambers of commerce are seeking the cancellation of a circular requiring expatriate workers in the WAEMU zone to receive their salaries in accounts domiciled in their host country.

Senegal
From an ex-IMF boss to JP Morgan, Dakar looks to financiers to fill gap in cash resources

At a time when Senegal has urgent revenue issues, the government is working on raising funds at both a domestic and international level while also trying to obtain renewed support from the IMF.

Cape Verde
Ecobank puts pressure on Ponta Sino hotel complex

The British group Decameron New Horizons is scrambling to open a luxury hotel on the island of Sal. Meanwhile, the pan-African Ecobank, the project's main financier, is seeking to sell its debt to rival companies already well-established locally, without the developer's knowledge.

Ivory Coast
Société Générale faces a flurry of resignations

Pending its sale, the leading banking institution in the West African Economic and Monetary Union (WAEMU) is facing a series of departures of its senior executives.