Election results could be disputed in Senegal

Election results could be disputed in Senegal

Election results could be disputed in Senegal

The opposition has disputed the election results in Senegal which, so far, show a strong win for incumbent President Macky Sall. According to Reuters reports, Senegalese President Macky Sall is on course for a strong election victory, based on preliminary results from Sunday’s vote. Local media website Dakaractu.com said President Sall had won more than 58% of the vote based…

Political risk heightened in Ghana

Political risk heightened in Ghana

Political risk heightened in Ghana

A recent by-election in Ghana has highlighted the continuing political risk for businesses in the west African state. Lord-Gustav Togobo, director, leadership intelligence and business development at Songhai Advisory, said: “Party political policy reversals and appointments following elections are de rigueur in Ghana, as is the preponderance of executive authority over rules or process. “Neither side of Ghana’s two-party system…

Chair of SCG-Ré dies

Chair of SCG-Ré dies

Chair of SCG-Ré dies

Edouard-Pierre Valentin, chairman of the board of directors of Société Commerciale Gabonaise de Réassurance (SCG-Ré), has died peacefully in France, aged 80. Mr Valentin, a well-known insurance figure in Gabon, was the chairman of SCG-Ré since its creation in 2012. He also founded insurance company OGAR in the 1970s, where he held the position of general manager. Mr Valentin was…

Mauritania becomes one of first to sign pan-Africa trade deal

Mauritania becomes one of first to sign pan-Africa trade deal

Mauritania becomes one of first to sign pan-Africa trade deal

Mauritania has ratified the African Continental Free Trade Agreement (AfCFTA), making it one of the first African nations to take the step. In an audience with the President of Mauritania, Mohamed Ould Abdel, Economic Commission for Africa (ECA) executive secretary Vera Songwe congratulated the country on the move. They also discussed the use of innovative financing investment mechanisms to strengthen…

New bridge reduces risks of trade between Senegal and Gambia

New bridge reduces risks of trade between Senegal and Gambia

New bridge reduces risks of trade between Senegal and Gambia

The risk of doing business between Senegal and the Gambia reduced last week as a new bridge linking the two countries opened. The bridge is a safer, quicker, and alternative route to the risky ferry crossing or the long detour between the northern and southern parts of both nations. The construction allows people from the north of Senegal to rapidly…

Conference explores waqf funding to support sustainable development in Guinea

Conference explores waqf funding to support sustainable development in Guinea

Conference explores waqf funding to support sustainable development in Guinea

The Islamic Research and Training Institute (IRTI) has participated in an international conference for waqf (a form of chairtable donation) in Guinea, organised by the Islamic Development Bank (IsDB), looking for solutions to boost sustainable development. The president of the IsDB, Dr Bandar Hajjar, along with several heads of state, discussed unlocking the potential of waqf to achieve sustainable development,…

Insurance used to seal private-public partnership in Ivory Coast energy sector

Insurance used to seal private-public partnership in Ivory Coast energy sector

Insurance used to seal private-public partnership in Ivory Coast energy sector

The Ivory Coast government has restructured the debt of a nationally owned oil refinery, using an insurance instrument. Ivory Coast’s economy is one of the strongest in Sub Saharan Africa, with an anticipated 2018 GDP growth of 7.6%. In recent years, the country has prioritised a comprehensive programme of economic reforms aimed at achieving a sustainable balance of payment position.…

Private sector involvement key to better governance in Guinea-Bissau

Private sector involvement key to better governance in Guinea-Bissau

Private sector involvement key to better governance in Guinea-Bissau

After a poor cashew harvest, Guinea-Bissau is hoping to use private sector developments to drive improved governance and an overall better economic performance. An International Monetary Fund (IMF) team led by Tobias Rasmussen has visited Guinea-Bissau and Mr Rasmussen said: “Guinea-Bissau’s economy came under pressure in 2018. Economic activity suffered from lower cashew production and prices. “Cashew exports declined by…

New drive to improve corporate governance in west African businesses

New drive to improve corporate governance in west African businesses

New drive to improve corporate governance in west African businesses

The International Finance Corporation (IFC) and the west Africa regional stock exchange, Bourse Régionale des Valeurs Mobilières (BRVM), aim to improve corporate governance practices of listed companies after signing a new deal. Under the agreement, the IFC will help BRVM design, develop, draft and implement a corporate governance code. Corporate governance practices among west African companies lag international standards. Among…

Equatorial Guinea sets up one-stop shop to help business

Equatorial Guinea sets up one-stop shop to help business

Equatorial Guinea sets up one-stop shop to help business

Equatorial Guinea’s business environment is set for improvement after the government launched of a one-stop shop for setting up businesses in the country. The Africa Energy Chamber has welcomed the move and executive chairman NJ Ayuk said: “The implementation of Equatorial Guinea’s one-stop shop allows companies to set up a business in Equatorial Guinea in only one week, putting the…

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