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NIGERIA – the authorities will launch the eNaira this Monday 25 October

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After banning cryptomonay transactions last February, Nigeria announced in August its partnership with Bitt Inc, a fintech based in Barbados, to create a digital Naira. Originally scheduled for October 1, this launch was postponed due to the national holiday.

In Nigeria, President Muhammadu Buhari will launch eNaira, the national central bank’s digital currency, on Monday. The information was announced by a representative of the financial institution on October 23 in a press release. “The launch of eNaira is the culmination of several years of research by the Central Bank of Nigeria to push the boundaries of the payment system to make financial transactions easier and more transparent for all layers of the society», indicates the Bank’s press release.

She said eNaira “will make financial transactions easier and more transparent for all layers of society.”

The financial institution had previously announced this launch by 1 October before postponing it because of the events planned for the 61st anniversary of the independence of the Federal Republic.

Last August, the central bank chose Bitt Inc. as its technical partner to help it create this digital currency, about 4 months after banning cryptocurrency transactions. At that time, the authorities declared “that they were a threat to the financial system”.

Source : Agence Ecofin

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BUSINESS

SENEGAL – Link Sunugal International: an asset for the autonomy and future of Senegal

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A wind of hope is blowing on the Senegalese diaspora. It is neither mistral nor tramontane. Supported by the International Business Council – Invest (IBC), “Link Sunugal International”, in a spirit of solidarity and belonging, is preparing to travel across Europe to strengthen links between the Senegalese diaspora and local opportunities. This event, sponsored by Camille Bounama Sylla, ambassador and honorary president of the association, will take place from November 2024 to March 2025. A quintet of European cities is part of a dynamic of support for Senegalese entrepreneurship and promotion of the Social and Solidarity Economy (SSE).

IBC, the keystone
Founded in 2019 by enthusiasts, the IBC, driven by a common ideal, has established itself as a pioneering structure in support of diaspora economic projects. Operating as a non-profit organization, this organization, with thousands of volunteer members around the world, shares a common interest: to see Senegal shine through its own sons and daughters. The association, by facilitating the creation of networks and the establishment of partnerships, supports members through mentoring, access to industry experts and training for better business management.

Link Sunugal International: an alternative financing call
More than just a tour, Link Sunugal International is an appeal for funding and financial autonomy. From Stuttgart to Paris, via Offida, Madrid and Lisbon, this odyssey will bring together actors whose mission will be to channel the resources of the diaspora to boost a dynamic of progress in Senegal, with the objective of curbing illegal immigration. The digital universe of e-marketing and e-banking will be widely explored. It will be an opportunity for exhibitors to gain international visibility, which will not only promote their products but also develop networks across borders.

An XXL program: training, meetings and gala evening
The day will begin with a warm welcome, exchange of glances and smiles. Each guest will receive the honors due to him. In this symphony of exchanges and know-how, crucial topics such as project financing, the fight against illegal immigration and investment strategies will be discussed in depth. A second, equally important phase will consist of a sharing of experiences among Senegalese entrepreneurs, with the intervention of APIX Senegal, which will present opportunities for local and diaspora investors.

IBC, an effective participatory network
The IBC is not content with promises or fine words. She has achievements, including a farm in Diembering, which covers 16 hectares and combines agricultural training, poultry farming and product processing. Thanks to a 100,000 euro grant, this farm employs more than 500 young people and women who are trained to become development engines for an autonomous and prosperous Senegal. Through this tour, the IBC is boosting and mobilizing funds for concrete socio-economic projects. The Link Sunugal International tour is an invitation to build, hand in hand, an autonomous and solidary future for Senegal. The IBC invites everyone to write together a new chapter for Senegal.

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AGRICULTURE

IVORY COAST – The country celebrates its local meals

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On October 25, 2024, in Abidjan, under the high-level signs of Place Palmeraie, Place Marcory, Auchan Latrille and Hyper U Sococé, the aromas of freshly baked bread and soumbara flavours blend into the freshness of Grandes et Moyennes Surfaces (GMS). Between warm scents and perfumes, Dr BAH-KONE Ranie-Didice, Executive Secretary of the National Council for the Fight against Expensive Life (CNLVC), took his time. There is nothing more sacred than this reunion with these products drawn from our lands.

A baguette of bread, a whole story
For this fifth edition of the Festival des Farines Locales, there was a crowd, but also a rich selection of breads and pastries made from local flours: fonio, cassava, mil, soya, sorghum. Every passer-by had a bite, a smile on his face. Each piece of bread tells a story, from the field in remote villages to the expert hands of bakers and the purchase. Each aroma emanating from these crispy breads originates in the heart of the Ivorian terroirs.

October, Festival of Local Flours
This festival is part of the fifth edition of the Month of Local Consumption, initiated by the West African Economic and Monetary Union (WAEMU). Every year, October becomes a month dedicated to the promotion of food heritage, where consumption habits are tinged with a renewed awareness. In addition to their taste, these products demonstrate the importance of incorporating more local raw materials into the diets of Ivorians. By reducing dependence on often expensive imported products, this initiative could help to boost and strengthen the domestic economy.

Month of Local Consumption, an asset for the sub-region
This festival is not unique to Côte d’Ivoire: it is an initiative of WAEMU. Thus, all populations in the member states are invited to cultivate a local way of life, reducing their dependence on imported products and building a strong and resilient regional economy. Dr. Ranie-Didice Bah-Koné said the event is an invitation to reinvent our recipes, to reconnect with the very essence of the land that feeds us: “This festival is a tribute to the country’s recipes.”

For a resilient economy
This WAEMU initiative aims at food self-sufficiency in Africa, to reduce its dependence on external aid. This festival embodies the hopes of a sub-region ready to take back control of its destiny with its own resources, regain self-sufficiency and celebrate the wealth of a continent with almost unlimited resources. The Local Consumption Month and the Local Flour Festival have demonstrated that Côte d’Ivoire has the resources to achieve food self-sufficiency. Simply trust the talents and know-how of its craftsmen.

FARINE

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BUSINESS

SENEGAL – The Senegalese delegation at SIAL Paris 2024

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From 19 to 23 October 2024, the International Food Show (SIAL Paris) brought together in Paris Nord Villepinte the world’s agrifood players. More than 7,500 exhibitors from 205 countries presented their products and innovations, making this edition a must-attend event for professionals in the sector. Among them, the Senegalese delegation, led by Madjiguène Ndoye, delegate of Promosalons Senegal, marked its presence at this international showcase of the agri-food industry.

A Senegalese Delegation Inspired by Food Professionals
The strong Senegalese delegation, led by Madjiguène Ndoye, created a remarkable buzz during this event. Representing Senegalese professionals through public and private institutions as well as the Association des Commerçants et Industriels du Sénégal (ACIS), she highlighted the dynamism of Senegal on the world agri-food scene. Madjiguène Ndoye, PROMOSALONS representative for Senegal, Mali, Burkina Faso, the Gambia, Mauritania and Guinea Conakry, has worked to increase the visibility of Senegal and the sub-region. The delegation took advantage of each meeting opportunity to share and build business partnerships and discover innovations in the sector.

The SIAL, Growth Engine for Agri-Food in Africa
This edition of SIAL has proven to be much more than a show. It is a true catalyst for agri-food innovation and sustainability, highlighting more than 400,000 products. Discussions on ecological practices and food safety were at the heart of the event. Senegal, as an emerging country in this sector, has taken the opportunity to learn from best practices. The Senegalese delegation demonstrated the country’s commitment to align with global trends, such as organic farming and local processing of raw materials. This sustainable approach could play a crucial role in the country’s food resilience, which faces many climate and economic challenges.

Senegal to Conquer New Markets
SIAL Paris wanted to welcome as many African companies as possible, including the Senegalese delegation, because the African continent challenges the global agri-food scene. The presence of the delegation, led by Madjiguène Ndoye, opened up new business opportunities and attracted foreign investment. Senegal’s participation in SIAL Paris 2024 marks an important step in the country’s desire to establish itself on the international agri-food scene. By combining innovation, sustainability and competitiveness, Senegal aims to become a major player in agriculture in Africa.

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