Cameroon: Afriland First Bank’s agreement ​ with IFC

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The International Finance Corporation (IFC), a subsidiary of the World Bank specialized in financing the private sector, has signed with Afriland first Bank, the leader of Cameroun banking market in Douala, the economic capital of the country, a funding agreement amounting to $ 15 million (about 8.2 billion CFA francs)

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Cameroon: First Bank Afriland

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The International Finance Corporation (IFC), a subsidiary of the World Bank specialized in financing the private sector, has signed with Afriland first Bank, the leader of Cameroun banking market in Douala, the economic capital of the country, a funding agreement amounting to $ 15 million (about 8.2 billion CFA francs)

With this funding, IFC will provide Afriland First Bank guarantees for transactions related to trade, for better coverage of flows of importers and exporters by the correspondent banks, thereby strengthening their international competitiveness.

Note that this financing agreement with IFC came after signature, June 17, 2015 in Beijing, China, of a funding agreement between Afriland First Bank and China Development Bank Corporation, for a total of 26.2 billion fCFA.

Afriland first Bank boasts a network of 38 agencies in Cameroon and two representations in France and China.

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Maixent Accrombessi, in the middle of political tensions between Paris and Libreville

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As he was sipping his coffee in the VIP room of a Paris airport, Maixent Accrombessi, 50, was arrested early this Monday, August 3, by officers of the French Central Office for the Fight against corruption and financial/tax offenses (OCLCLIF). The arrest of President Ali Bongos’s Chief of Staff that lasted more than 12 hours is linked to an open preliminary hearing July 9, 2007 for “corruption of foreign public officials” and “money laundering”. None of these accusations has anything to do with current position.

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Gabon: SMBs are demanding 37 billion FCFA to the state

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About three hundreds small and medium size Gabonese businesses (SMBs) met on July 22 as part of a coalition at the Chamber of Commerce of Libreville in order “to question the Government about their arrears of payment to the Treasury” estimated at 37 billion FCFA.

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Five East African countries preparing regional climate bill -media

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Five East African countries are drafting a climate bill to introduce regulations to help facilitate the flow of more climate finance cash into the region, local media reported.

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BOAD plans to raise USD 500 million in international markets in the final quarter of 2015

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Mr Christian Adovelande, President of the West African Development Bank (Banque Ouest Africaine de Developpement, BOAD) held a press conference at the BOAD headquarters in Lomé, which was attended by approximately thirty journalists representing both public and private media of WAEMU states (West African Economic and Monetary Union) as well as the international media.

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Imminent start of work to protect and develop Cocody Bay in Abidjan

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• Release of the priority fund of 10 billion CFA francs to fund the first phase of the works.

• Initiation by Morocco and Côte d’Ivoire of a pilot model of South-South cooperation.

• Cocody Bay, an important project jointly managed by Marchica Med, a Moroccan State-owned company and the Ivorian Government.

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Casablanca, Tunis and Abidjan, three Stock Exchanges on bench testing

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-Capitalization: Casablanca (1st), Abidjan (2nd), Tunis (3rd)
– Performance: Abidjan (1st), Tunis (2nd), Casablanca (3rd)
– Transactions: Casablanca (1st), Tunis (2nd), Abidjan (3rd)
– Liquidity: Tunis (1st), Casablanca (2nd), Abidjan (3rd)

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ACCRA WILL HOST FROM 22 – 23 OCTOBER 2015, A MAJOR FORUM ON GHANA’S INVESTMENT POTENTIAL. Accra – 29 June 2015

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Placed under the patronage of HE Mr. John Dramani Mahama, President of Ghana, this forum is an initiative of the GIPC in partnership with Homestrings Ltd, an investment platform that facilitates diaspora and impact-investing to make a difference in the world.

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JAC Motors Celebrates Its 51st Anniversary

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Founded on May 20th, 1964, the company developed the first 2.5-ton truck in Anhui province in April 1968, filling a gap in Anhui’s automotive industry.

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