Foreign exchange markets

Rising bond yields benefited the greenback, which rose from two-week lows after the Federal Reserve pushed back on speculation of interest rate hikes. As much as the dollar, the euro is not in great shape. The European currency fell against the dollar, which remained weak after the meeting of the American Central Bank (Fed).
The latest bulletin of weekly indicators, Bank Al-Maghrib (BAM) announces that the dirham is appreciating against the euro but against the US dollar, it has depreciated. In the same period. The Pound Sterling retreats despite a performance of the 'Gilts'.

Bond market

Côte d'Ivoire was on the financial market of the West African Monetary Economic Union (UEMOA). The country raised 44.120 billion FCFA following the 3rd simultaneous issuance of recovery bonds and bonds (ORD).
Cameroon has succeeded in its 2nd long-term loan of the year 2021. The issue of assimilable treasury bonds (OTA) with 7 years of maturity resulted in the effective mobilization of the maximum envelope of 35 billion of FCFA requested.
Following a triple issue of equivalent Treasury bonds (Oat) with maturities of 3 years, 5 years and 7 years, respectively backed by interest rates of 5.60%, 5.70% and 5, 80%, Senegal raises 82.5 billion CFA francs on the financial market of the West African Economic Monetary Union (UEMOA).
Togo has launched a new stimulus bond issue of 20 billion FCFA. The Umoa-Titres agency announces that the issue is split into public Treasury bonds issued for a maturity of 7 years, with 10,000 FCFA as face value.

Money Market

The week has not been rosy for bitcoin, king of cryptocurrencies. The virtual currency lost momentum and fell back below 60,000 dollars before recovering at the end of the week. Bitcoin, the leading digital currency by capitalization, was losing momentum Monday midday. In addition, France organized this week its first judicial auction of 611 bitcoins, seized during a cybercrime case. More than 1,500 bidders took part in the operation. The biggest lot of the sale, which included 20 bitcoins, was sold for 802,250 euros against 780,000 euros.

Raw materials

The strength of the greenback and bonds is not helping gold. For the first time in its history, the yellow metal has lost nearly 18% of its value. The price of tin on the London Metal Exchange (LME) has appreciated this week, approaching the last high reached on February 25th.
In Niger, imports are up by 7.5%. During the Dissemination Day of Niger's external accounts for 2019, the authorities revealed that imports are on the rise, driven mainly by purchases of capital and intermediate goods as well as food and everyday consumer products. However, exports fell from 668.2 billion in 2018 to 659.7 billion, a decrease of 1.3%, mainly due to the contraction in sales of agro-pastoral products.
In Côte d'Ivoire, the National Center for Agricultural Research (CNRA) has discovered "CI 123" and "CI 128", two new seeds that will not only improve the yield of the fiber, but also strengthen its image of quality. in the world market.
The International Cocoa Organization (ICCO) in its monthly report notes that certified cocoa stocks fell from 62,060 tonnes (t) to 35,140 t, a drop of 43%.
As for oil, prices experienced an unprecedented regression this year. WTI and Brent increased their losses triggered by doubts in Europe regarding the AstraZeneca vaccine.

Banks and Insurance

The World Bank's Board of Directors releases additional financing of $22.5 million for the Regional Off-Grid Electricity Access Project (ROGEAP). This support fund for solar systems in West and Central Africa is a form of grants from the International Development Association (IDA) as well as the Clean Technology Fund (CTF). It will support job creation, particularly in farming communities through innovative small businesses.
The Bretton Woods institution has also approved a sum of 70 million dollars in favor of Togo for the establishment of Universal Health Coverage (UHC). This envelope is intended for the most vulnerable populations, in particular children and pregnant women m, with a view to accessing quality health services.
Under the Electricity Access and Power Sector Strengthening Project, Liberia received $180 million from the World Bank. This financial support from the Bank follows a first phase commitment of $44 million by IDA in the form of a credit and $15 million in the form of a grant.
The 2021 "Africa Economic Outlook" report published by the African Development Bank (AfDB) forecasts that Africa should return to economic growth in 2021, but poverty will continue to increase and public debts will increase. dig in. The document calls on leaders to "address Africa's debt and development financing challenge" through "fiscal discipline", increased support from the international community and private creditors, but also "bold reforms of governance” of African states.
The pan-African institution is also funding a $530 million electricity project to develop renewable energy and regional connectivity in Angola. This financing covers the construction of a 343 km, 400 kV central-south transmission line that will connect the northern and southern transmission networks of Angola and allow the distribution of clean energy between the two regions.
With financial support from the AfDB, Africa will soon have a shared platform to monitor cyberattacks against financial service providers and individuals. The Center for the Prevention of Financial Cybercrime will be based in Dakar, Senegal.
The subsidiaries of Bank Of Africa (BOA) in Senegal and Burkina Faso saw their profit after tax fall at the end of the 2020 financial year. The profit after tax of BOA Senegal fell by 1.448 billion FCFA (2.172 million euros) compared to the 2019 financial year. BOA Burkina's after-tax profit fell by 903.448 million FCFA at the end of the 2020 financial year compared to the previous financial year, standing at 17.607 billion FCFA against 18.511 billion of FCFA.
The African Export-Import Bank (Afreximbank) has granted Moroccan fertilizer group OCP a loan facility of $350 million over seven years to support its expansion plans in Africa. This loan agreement aims to facilitate the development of exports on the continent and to promote intra-African trade and investment,
At the end of its 122nd ordinary session which was held this Wednesday, March 17, 2021 by videoconference, Boad approved a total of six loans for a total amount of 81 billion FCFA. Among others, 3 lines of refinancing were granted to Coris Bank International Mali, Bridge Bank and BGFIBank Côte d'Ivoire.

Financial crimes

In Mali, 27 public buildings were fraudulently appraised and then sold at a low price to certain economic operators. The sale prices of the public buildings concerned would be four times lower than the real value of these buildings.
Police Scotland have revealed a £5billion fraud involving certain businesses. A single Edinburgh company is said to have secured contracts worth at least £150million from government agencies in Libya, including the Organization for the Development of Administrative Centers, responsible for developing infrastructure. The case involved more than 90 bank accounts.