Author: Congo Times

Access Bank doubles down on East Africa expansion The Lagos-based Access Bank PLC on 20 June 2025 received final regulatory clearance to absorb the retail and wealth-management portfolios of Standard Chartered Bank Tanzania. According to group chief executive Roosevelt Ogbonna, the transaction, whose value remains undisclosed, adds roughly 150,000 clients and an estimated USD 1 billion in assets under management to the Nigerian lender’s East African balance sheet, reinforcing a strategy articulated immediately after its 2019 merger with Diamond Bank. Ogbonna declared that “Dar es Salaam offers a springboard to the Great Lakes corridor”, framing the deal as a precursor…

A French media flagship eyes Francophone Africa Paris has rarely hidden its soft-power fascination with Francophone Africa, but TF1’s decision to extend its free-to-view streaming service to twenty-seven states in June 2025 represents a quantitative leap. Rodolphe Belmer, the group’s chief executive, framed the venture as a “patient, pan-Francophone bet” on a demographic curve expected to crest above 300 million French speakers by mid-century (Organisation Internationale de la Francophonie, 2023). The underlying arithmetic is straightforward: the larger the audience, the lower the marginal cost of amortising pricey drama formats or UEFA football rights. Yet the move also signals that Parisian…

Colonial Partition and the Berlin Conference The enigmatic existence of two Congos, the Republic of the Congo and the Democratic Republic of the Congo, primarily stems from a colonial legacy that saw the division of the African continent amongst European powers in the late 19th century. The Berlin Conference of 1884-1885 was a pivotal event that formalized this division, allocating vast African territories to European colonial rule. The Congo River basin, nestled in the heart of Central Africa, became a focal point due to its immense natural resources and strategic geographic significance. The subsequent partitioning of this area by France…

Strategic Arrival in Austria Embracing her diplomatic responsibilities with commendable zeal, Édith Itoua, the vigilant Congolese ambassador residing in Berlin, embarked on a pivotal voyage to Vienna. Her visit coincided strategically with the dispatch from the Ministry of Special Economic Zones and Economic Diversification, accompanied by a parallel mission from the Forestry Economy Ministry. In doing so, Édith Itoua aims to fortify diplomatic ties within her jurisdiction. A Diplomatic Mosaic in Vienna In the bustling corridors of Vienna, an intricate dance of diplomacy unfolds. Édith Itoua, representing Congolese interests, seamlessly navigates the nuanced spheres of political, cultural, and economic diplomacy.…

A Financial Lifeline for a Stalled Economy Amidst an economic downturn compounded by aging infrastructure, South Africa has secured a $1.5 billion loan from the World Bank. Signed on June 23, 2025, this financial infusion aims to jolt an economy stifled by persistent power outages and a crumbling transport system. Over the past decade, South Africa—Africa’s most developed economy—has struggled to grow, with regular electricity interruptions throttling productivity. Additionally, deteriorating rail networks and perpetually congested ports have hindered major industries, such as mining and automotive. Economic Gloom: Unemployment and Stalled Growth With an unemployment rate exceeding 31% and an average…

Interest Rates Remain Unchanged Amidst Falling Inflation In a crucial decision reflecting economic stability, Morocco’s Central Bank, known as Bank Al-Maghrib, has opted to maintain its key interest rate at 2.25%. This decision follows noticeable deceleration in food prices and an overall slowdown in inflation, which dropped from an average of 2% in the first quarter to 0.4% by May. During the recent board meeting in Rabat, comprehensive analyses of both national and international economic developments resulted in this conclusion, signifying a stable monetary environment. Projections Indicate Moderate Inflation in Coming Years Future economic forecasts provided by Bank Al-Maghrib suggest…

A Strategic Meeting in Saint Petersburg On June 19, a significant dialogue unfolded in Saint-Petersburg between Denis Christel Sassou Nguesso, the Congo’s Minister of International Cooperation, and Russia’s Deputy Energy Minister, Pavel Sorokin. The talks underlined a persistent dedication to strengthening bilateral energy cooperation. Their engagement exemplified a strategic diplomatic endeavour aimed at elevating economic prospects through a robust energy sector alliance. Bilaterial Cooperation: A Commitment to Mutual Advancement Both dignitaries underscored their aspiration to continue a strategic collaboration bolstered by structurally significant projects. This cooperation is not merely a roadmap to enhanced diplomatic relations but a calculated move to…

World Bank Steps in to Boost South Africa’s Faltering Economy On June 23, South Africa announced securing a substantial $1.5 billion loan from the World Bank, with the target of rejuvenating its deteriorating transportation and energy sectors. This ambitious financial intervention by the global financial institution marks a critical attempt to reinvigorate an economy that was once considered the continent’s powerhouse. For over a decade, South Africa’s economic engine has been struggling, characterized by stagnant growth and chronic infrastructure challenges. Now, with an ambitious plan in hand, the nation appears poised to tackle its infrastructural inadequacies, which have broadly handicapped…

Introduction to the Bond Issuance In a strategic move aimed at enhancing its financial framework, Maroc Telecom, a leading telecommunications operator in Africa, has triumphantly executed its inaugural private bond issuance, amassing a significant sum of 3 billion dirhams, equivalent to approximately 326 million US dollars. This milestone initiative not only marks a pivotal chapter for the Group but also signifies its resolute commitment to advancing high-value projects. Investor Enthusiasm and Strategic Goals The issuance was conducted under a private placement format, capturing substantial interest from institutional investors. It features a two-year maturity period with repayment at maturity and was…

Steadfast Economic Growth Amidst Global Uncertainties Ivory Coast’s economy continues to dazzle with its thriving performance as highlighted in the latest report by the African Development Bank (AfDB). The West African powerhouse is projected to maintain a robust real GDP growth rate of 6.1% in 2024, with forecasts predicting stability around 6.3% for 2025-2026. This news was unveiled during a thought-provoking seminar in Abidjan, focusing on ‘Harnessing Ivory Coast’s Capital for Sustainable Development.’ Kadio Lionel Kouao, an AfDB country economist, articulately credited the nation’s economic dynamism to strategic fiscal measures and investments. Inflation Eases as Fiscal Deficits Shrink The inflation…