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Weekly Political and Economic News WEEKLY POLITICAL AND ECONOMIC NEWS Monday, January 5, 2015 Almadies / Dakar - Senegal Tel: (+221 ) 33 859 84 84 www.ta-holding.com Inside Guinea Mauritania Niger Senegal Openniing of New Branches ‐ BIS: Ngor/Almadies branch ‐ BIS: Mboro branch ‐ BIS: Tivaouane branch ‐ BIM: Route de Nouadhibou branch ‐ BIG: Labé branch ‐ BIN: New Headquarter Page 2 Newsletter Header GGuuiinneeaa Low fuell priices:: Trade Miiniister Mr.. Mark Youmbouno’’s arguments prices to relieve the Guinean calculates and sets the price of population, at least on time. fuel at the pump, there are According to Trade Minister many factors to consider. But Mark Youmbouno, this decline when the time comes, the will not be immediate in entire population will be Guinea. "Since the beginning of informed. " the year, we apply the principle Unlike previous years, of flexibility that sets the price where there is an monthly, when the time comes, unprecedented shortage of fuel people will be informed late in the year, Mr. Youmbouno For several months the price whether it will decrease or is categorical: "There will be no of a barrel of oil has largely increase." shortage of fuel, we have fallen in the international level. Always on the line, Marc enough fuel in our deposits in Openniing of New Branches But the Guinean authorities are Youmbouno repeated stressing: Conakry ". dragging not apply decreased "We have a structure that ‐ BIS: Ngor/Almadies branch ‐ BIS: Mboro branch Economy:: Bank notes of 500 and 1 000 GNF are scarce ‐ BIS: Tivaouane branch (500 - 1,000 GNF) have takes the goods and offers the almost disappeared from the currency (the difference in ‐ BIM: Route de Nouadhibou branch daily life of Guinean citizens. price), or abandons the desired These banknotes in article for lack of small bills, or circulation are so worn that take the goods by deciding to ‐ BIG: Labé branch one has difficulty in return for his money after. distinguishing their colors, Faced with the crisis, it is even ‐ BIN: New Headquarter found the AGP. This born in Conakry a network of generated a lot of controversy small sellers of freshly cut between carriers and bank outlets (100, 500 and passengers or between 1000). And profit on each merchants and customers all ticket sold is about 100 francs day long. or 500. For example, 50,000 in Bank notes of five hundred and Between sellers and buyers it small denominations of 1,000, a thousand Guinean francs is yet another facet. The buyer purchased 60,000. Page 3 Newsletter Header New Year 201 5:: Message to the Natiion by the Presiident of the Republliic of Guiinea,, Professor Allpha Conde Guinean Nation on the occasion of New Year 2015 . And with his best wishes of good health, peace and prosperity to the Guineans living in the country and all its compatriots living abroad, and to foreign nationals who live on Guinean territory the President stressed that 2014 was a difficult year for the populations of Guinea. "2014 was for our people a challenging year, with serious health crisis that hit our country. With consequences, all these sufferings of our people because of the Ebola hemorrhagic fever President of the Republic, Head of State, Prof. virus. The year 2014 is ending, is in our minds Alpha Conde addressed on Wednesday, as the year when our nation has experienced December 31, in the evening, a message to the the most unexpected scourge in recent history. " Press rellease of the Centrall Bank of the Republliic of Guiinea December 24,, 201 4 Exchange Market (MIC) of of the next session to be held 2014 was held at the Central in the premises of the BCRG. Bank Thursday, December 24, The Central Bank thanked the 2014 from 09h 30mn to 00mn participants for their 10h. contribution to the success of The session was attended by the meeting. BCRG and thirteen (13) banks on fifteen (15). The weighted exchange rate resulting from Press release of the Central transactions was fixed at: Bank of the Republic of Guinea 1USD = 7074, 8579 GNF. December 24, 2014 This course will serve as The fifty-second (52nd) session reference rate for bank of the Interbank Foreign transactions until the holding Issue 1 Page 4 MMaauurriittaanniiaa Bankiing:: a Boomiing BIIM development of the private loan portfolio of around 8 sector (a subsidiary of the billion Ouguiyas and a deposit Islamic Development Bank, of stock of nearly 7 billion. A 60%) and bank Asya (the feat in a balkanized banking largest Islamic bank in Turkey, sector, where there were 40%). twelve institutions for banking In 2013, it achieved a net rate of only 5%. profit of nearly 300 million Better: over 70% of the Ouguiyas (about € 800 000), clientele of this young bank is which represents a doubling made up of companies. "We compared to 2012. "After the work primarily with SMEs, first fiscal year that ended with including trade finance a profit of 10 million Ouguiyas, operations, Mauritania is a we quickly mounted power but major importer country," said It has only three years of rather conservatively, "says Mahmoud Ba. At these import existence. But already, Mahmoud Ba, risk and credit companies, BIM offers Mauritania Islamic Bank has manager of BIM. With good relatively new products. Apart earned a place in the national results, which have won the from the documentary letter banking landscape. Its secret? trophy for the establishment of credit and traditional trade Convenient services and "best initiative in Islamic products. At BIM is the especially halal. finance" (Best Islamic Finance Murabaha (sale at a mutually In the country, it is the first Initiative 2014), awarded in agreed profit) Import that bank of its kind. Led since late May by The African Banker makes success. "The process is three years by Mohamed Ben in Kigali on the sidelines of simple: BIM buys the goods the Othman, the Islamic Bank of meetings of the African customer wants and resells Mauritania (BIM) was created Development Bank . them, with a markup price," in September 2011 by the As it is about to open its said Mahmoud Ba. BIM holding company Tamweel fourth office in Nouakchott (on therefore does not lend money, Africa Holding, the joint the road to Nouadhibou), the but rather trades. Risky, but venture of the Islamic bank boasts of having carved a "halal"! Corporation for the market share of 2%, with a Page 4 BCII-Nouadhiibou:: four peoplle arrested iin a holle iinvestiigatiion of 70 miilllliion UM The three employees, two young women and a young man, would be accused of dishonesty in the Bank. According to some revelations, the employees of the Bank lent to the businessman some money to grow dividends in return he would pay them. The case broke out when the businessman in question could no longer honor his "commitments" including the initial amount itself. 70 million Ouguiyas in cash was well detected Four people, including three employees of the in a routine check. This kind of ride is very Bank for Trade and Industry (BCI), and a frequent in Mauritania especially within the supposedly business in Nouadhibou were public administration. An inquest was opened suspected in a case of disappearance of 70 and the four people detained at police million UM in the treasury if this primary bank. headquarters would be heard on this matter. Afriica has saved the year arrangers of lloans iin the CEEMEA regiion,, accordiing to Ciitiibank Citibank, it is Africa that has arranged by Citi in this context saved the situation: "The big and that context, declined to $ question this year was: How to 16.5 billion, down $ 2 billion make up for the shortfall compared the figures for 2013. created by the decline in Nothing at the end of the first demand in the Russian half of 2014, Citi had already economy for bonds? The fact is arranged loans in Nigeria for that among the emerging nearly $ 1.1 billion, including $ countries, there are still some 500 million for Zenith Bank, $ which are challenging each 400 million for Access Bank, In a context marked by the year, we must then rely on its and $ 200 million for Diamond economic difficulties of Russia, networks, and knowledge to get Bank. With Standard Chartered its difficult relationship with by. From this point of view, Bank, he was co-arranger for the West, and their indirect Nigeria, South Africa and the loan from First City Bank consequences in neighboring several other African countries Monumment. It was also found countries in the Baltic area, the have helped bridge the gap ", Citi in the arrangement of the market for bonds arrangements said William Weaver, head of loan Senegalese sukuk, and in the area covered by Central the debt market for the area at arrangements in South Africa Europe, Middle East and Africa Citi, according to comments and Ivory Coast. However, it (Centran Eastern Europe, reported by Global Capital. will wait for the 2014 annual Middle East & Africa - Although the US remains the reports, to get an idea CEEMEA) was found leader group in the area for this generated gains. destabilized. According to segment of banking services, the overall volume of loans Issue 1 Page 6 NNiiggeerr Rankiing iin 201 4 on the perceptiion of corruptiion iin the worlld:: Ranked 1 03rd,, Niiger contiinues to grow countries worldwide. In this international institutions list, Niger, is 103rd class with including the World Bank an index of 35, continuing its include the African progression, started since Development Bank (ADB) and 2011. its Asian counterpart or the Indeed the 134th Place in World Economic Forum (Davos 2011, Niger is mounted 113 th ) and Germany's Bertelsmann in 2012 and the 106th spot in Foundation.
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