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AFRICAN DEVELOPMENT BANK – Jacques Edjangue appointed Vice President for People and Talent Management

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The African Development Bank appoints Jacques Edjangue as Vice President for People and Talent Management Mr. Edjangue is a senior executive with over 28 years of experience in multilateral institutions, 21 years at the African Development Bank Group

The African Development Bank has appointed Mr. Jacques Edjangue as Vice-President, People and Talent Management, effective June 16, 2023. Prior to this appointment, Mr. Edjangue was the Acting Vice-President of People and Talent Management. Previously, he served as Acting Director of the Human Resources Department and Director of the Language Services Department of the Bank Group from June 2020 to June 2022.

Mr. Edjangue is a senior Cameroonian national with over 28 years of experience in multilateral institutions, including 21 years with the African Development Bank Group. He was appointed in June 2022 as the new Vice President for People and Talent Management. The bank created this new structure to give much more attention and visibility to people and talent management at the bank and to strengthen staff engagement and overall experience.

Mr. Edjangue joined the African Development Bank in 2002. He became Head of Division in 2011, and from 2017, he was Director of Linguistic Services at the Bank. He has helped establish, lead and manage several human resources reforms within the Bank. These reforms include strategic staffing, people management strategy, performance management framework, executive performance contracts, remote working, talent advice, the total compensation framework and leadership academies.

Mr. Edjangue’s in-depth knowledge of the Bank’s staff and organizational culture has enabled him to develop a very positive opinion of the institution internally, with a staff engagement rate of 87%. It also contributed to a significant improvement in performance management, with the performance review rate reaching an unprecedented 99% in 2022. Under Mr. Edjangue’s leadership, the Bank achieved EDGE certification in January 2023. EDGE is the world’s leading certification for gender and diversity assessment in the workplace. With this certification, the Bank is recognized as an institution that demonstrates in its policies and actions its commitment to inclusiveness in people and talent management.

Mr. Edjangue was appointed in 2000 as Deputy Director and Deputy Permanent Representative to the International Organization of La Francophonie (OIF). In this capacity, he represented the OIF on the United Nations Economic Commission for Africa and the African Union in Addis Ababa, Ethiopia. He has directed several programmes and initiatives aimed at strengthening cooperation and partnership, and promoting multilingualism and cultural diversity within sister organisations. Dr. Edjangue holds a master’s degree in business administration from Colorado State University (USA), a master’s degree in interpretation and a master’s degree in translation from the University of Buea (Cameroon), among other university degrees.

Commenting on his appointment, Mr. Edjangue said: I would like to thank President Adesina for placing his trust in me. I see this appointment as a huge responsibility and a unique opportunity to continue to implement the Bank’s vision for people and talent management in the delivery of its development mandate. I look forward to giving new impetus to ongoing reforms and accelerating the deployment of institutional people management strategies and priorities.”

The President of the African Development Bank Group, Mr. Akinwumi Adesina, said: I am very pleased to appoint Mr. Jacques Edjangue as Vice President for People and Talent Management. Jacques is a proven leader who has distinguished himself in his previous role as Acting Vice President for People and Talent Management after serving as Acting Director of the Human Resources Department.”

“Jacques has a wealth of in-depth knowledge of the institution,” added Adesina. He has spearheaded and implemented several major institutional reforms in the area of human resources and works effectively with staff and management. It will be of great value as the Bank continues to innovate in improving its work environment to attract and retain top talent, while strengthening the performance culture, productivity and accountability for results.”

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SENEGAL – 511.3 billion CFA francs in savings and 677 billion CFA francs in loans granted in 2022 in microfinance

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The Senegalese Minister of Microfinance and Social and Solidarity Economy chaired, this Thursday, July 27, 2023, the 27th meeting of the National Committee for the Coordination of Microfinance Activities. Victorine Ndeye reported that microfinance affects 22% of the population with 511, 3 billion CFA francs in savings and 677, billion CFA francs in loans granted in 2022.

The 27th edition of the National Coordination Committee for Microfinance Activities was held on Friday.
According to the Minister of Microfinance and Social and Solidarity Economy, Victorine Ndeye, microfinance plays a crucial role in financial inclusion by providing accessible financial services to low-income populations and small entrepreneurs. It is a powerful tool to reduce poverty, create jobs, support local entrepreneurship and promote the economic empowerment of women and youth,” she says. “In 2022, microfinance expanded with a total of 296 institutions with 995 points of service across the country. Today 4,034,538 accounts remain active and Microfinance reaches 22% of the population, with 511.3 billion in savings and 617.3 billion in loans granted”. The minister indicates that his department is aware that we must reinvent to meet the new requirements and needs of a more vulnerable population in times of major crises that our country is going through in the face of exogenous shocks related to the Covid pandemic 19 and the Ukrainian crisis. “We intend to strengthen the synergy of microfinance actors, the government, technical and financial partners and microfinance institutions to meet the challenges we face. We must continue to promote financial stability, inclusion and transparency in the sector, but we must also address universal access to financial services through a better perception of the sector,’ she said. In his view, this requires a target-based approach, better risk management and strong governance. We also need to encourage innovation in the microfinance sector. Emerging financial technologies, such as mobile banking, innovative financing and our proven savings and credit models, offer real opportunities to expand access to financial services,’ she says. It is their responsibility to ensure that these innovations benefit everyone, including the most vulnerable and the most remote. ‘ We will continue to work towards a favourable regulatory environment that encourages investment, diversification of offerings and the expansion of microfinance institutions,’ she says.

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WAEMU AREA – Growth of 5.4% of Gdp over one year

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Economic activity in WAEMU remained buoyant in the first quarter of 2023, with a 5.4% increase in GDP over one year, after 5.3% in the previous quarter.

According to the information provided by BCEAO, the business climate indicator, which synthesizes the views of business leaders, remained above its long-term trend at 101.1 percentage points. This development reflects the continuing confidence of business managers in the favourable economic outlook. The growth gain, which is an indication of the minimum level of growth that would be achieved by the end of the year, is estimated at 3.4% in the first quarter of 2023,” the BCEAO informs.

The growth of Gdp in volume terms in the Union is the result of the continued good orientation of economic activity, particularly in the secondary and tertiary sectors. The contribution of the secondary sector increased from 0.6 percentage points (pdp) in Q4 2022 to 0.7 PDP in the quarter under review.

The contribution to growth in the tertiary sector was 3.4 pdp in the first quarter of 2023 compared to 3.3 pdp in the previous quarter. In contrast, the primary sector contribution edged down to 1.3 PDP in Q1 2023 from 1.4 PDP in Q4 2022.

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BRVM – A record of more than 2 billion CFA francs recorded this Friday

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On Friday, July 07, 2023, the regional stock exchange posted a record CFA 2.232 billion in quotations. The value of these transactions amounted to CFAF 2.232 billion compared to CFAF 1.867 billion the day before. Previously, the market recorded transactions of CFAF 1.701 billion on Wednesday, July 5, 2023. In total, during the last three trading sessions, investors have shown a real enthusiasm for the securities of both compartments with an average of 1.933 billion traded value.

At the origin of the strong transactions of the meeting of July 7, 2023, there is a value traded at the level of the bond compartment of FCFA 1.751 billion. The investors’ interest was particularly focused on the TPCI 5.90% 2016-2026 bond with the purchase of 149,671 securities during 9,600 FCFA, for a total value of 1.436 billion FCFA.

The market capitalization of the equity market exceeded the 7500 billion mark, with a realisation of CFAF 7532.519 billion against CFAF 7487.805 billion on 6 July 2023, an increase of CFAF 44.714 billion.

The bond market was also up by 19.695 billion, to 10159.467 billion FCFA compared with 10139.772 billion FCFA the day before. The clues are all improving. Thus, the composite index rose by 0.60% to 202.47 points from 201.27 points the day before.

The BRVM 30 index also rose by 0.65% to 101.63 points from 100.97 points the day before. The biggest increase was recorded by the BRVM Prestige index with 1.38% at 102.37 points compared to 100.98 points the day before.

The Top 5 of the largest price increases are held by ETI Togo (plus 5.88% to 18 FCFA), Total Côte d’Ivoire (plus 4.63% to 2,260 FCFA), Compagnie Ivoirienne d’électricité Côte d’Ivoire (plus 2.33% to 2,200 FCFA), Orange Côte d’Ivoire (plus 0.92% to 9,890 FCFA) and BOA Burkina Faso (plus 0.74% to 6,095 FCFA).

As for the Flop 5 of the largest price declines, it is occupied by the securities BOA Mali (minus 3.57% to 1,350 FCFA), Sucrivoire Côte d’Ivoire (minus 2.80% to 520 FCFA) Oragroup Togo (minus 1.67% to 2,650 FCFA), Vivo Energy Côte d’Ivoire (minus 1.30% to 760 FCFA) and SAFCA Côte d’Ivoire (minus 1.30% to 760 FCFA).

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