Category: Economy

### The shadows of the Jagtani affair: a turning point for the Congolese economy?

The arrest of Harish Jagtani, an influential businessman in the DRC, aroused a shock wave both in economic and political circles. Owner of several key companies, Jagtani represents a rescue buoy in an often unstable economic landscape. However, this arrest raises serious questions about the tense relationship between entrepreneurs and rulers, accentuated by a climate of distrust and arbitrary. The lack of confidence that follows from such events could dissuade precious investors, thus aggravating the country’s economic challenges. Behind political and economic issues, the human dimension of this case, in particular Jagtani’s commitment to local development, also deserves to be analyzed. While the DRC is at a decisive crossroads, it is imperative to follow the evolution of this case, which could shape the fate of Congolese entrepreneurship for the years to come.

** The best is future: BGFIBANK redefines finance in Africa **

In an unprecedented initiative, BGFIBANK is launching its “best is future” campaign, which transcends the simple commercial framework to set itself up as a real engine of sustainable development in Africa. Under the direction of Henri-Claude Oyima, the bank undertakes to combine economic and well-being of local communities, advocating responsible investments and a humanist approach at the heart of its dynamic strategy 2025.

By emphasizing human capital, BGFIBANK invests in the education and training of young people, with the aim of preparing future generations for an increasingly digital world. In response to a changing financial environment, the Bank innovates not only technologically but also by offering personalized services adapted to new consumer expectations.

This approach, far from being a simple marketing operation, is a call for collective action in the face of social and environmental challenges. By emphasizing ethics and social responsibility, BGFIBANK is positioned as a pioneer of a new financial model, making each action a step towards a better future for Africa.

### Egyptian economy: towards a more serene future?

Egypt, plagued by economic turbulence, could see a glimmer of hope thanks to the promising forecasts of J.P. Morgan. The bank anticipating a reduction in interest rates of 6 % in the coming months suggests a appeasement in inflationary tensions, the inflation rate that dropped from 24 % to 12.8 % in just one month. However, this drop remains nuanced: the rise in prices does not disappear, it slows down.

The food sector, despite positive signs in general inflation, continues to undergo alarming increases, especially for basic necessities. With food losses reaching up to 40 % due to faulty infrastructure, Egypt faces an urgent challenge to be resolved.

While the manifest market of signs of optimism with increasing investments, the real question remains: must Egypt be based on monetary easing measures or initiate deep structural reforms? The answer will shape the country’s economic future, between restoration and persistent social challenges. A balanced strategy may well be the key to navigating a resilient future.

** Madagascar: Between economic crisis and hope of renewal **

The Central Bank of Madagascar unveils an alarming economic situation, with alarming trade deficit, rampant inflation and difficulties in access to bank funding. Although a growth of 4.2 % is expected for 2024, it masks deep issues: private investments dominate, while exports stagnate in the face of international competition. High interest rates make access to credit difficult for SMEs, stifling innovation. At the same time, corruption is part of all aspects of the economy, slowing down progress even more. However, this crisis could be a catalyst for change: strong political will, daring reforms and better regulation are essential to get out of the economic tunnel. Madagascar, with its natural riches, has the opportunity to reinvent yourself and embrace a promising future.

** towards African autonomy: the challenges and opportunities for reducing American aid **

With the prospect of a gradual withdrawal of the help of the USAID, Africa is at a crucial turning point. For decades, this agency has played a pivotal role in the economic and social development of the continent, but its decrease could become the catalyst for a new growth paradigm. While some see this situation as a major threat, others receive a unique chance of accelerating the economic autonomy of African states. Current dependence, revealed by alarming figures – in some cases, almost 8% of GDP came from aid – raises questions on the viability of national economies. However, initiatives like the Great Green Wall and the rise of African startups suggest a path to innovation and resilience. The challenge remains to encourage countries to diversify their partners and strengthen intra-African collaboration. The future of Africa may not reside in the continuity of external aid, but rather in the ability of nations to unite, innovate and invest in their own resources for sustainable autonomy. What do you think? The discussion is launched.

** South African budget: when economic balance meets inequality **

The recent South African budget highlights a crucial dilemma: how to promote economic inclusiveness while sailing on the volatile field of inequalities. With a planned increase in VAT that can affect the most vulnerable households, the question arises: what strategy to mitigate the devastating effects on those who already live in precariousness? Initiatives inspired by Brazilian programs, coupled with taking into account regional disparities and enlightened innovation in the private sector, could offer solutions. Added to this is the imperative need for solid financial education, ensuring that even the most deprived can benefit from the reforms. In the end, South Africa has a precious opportunity to initiate deep and lasting changes, thus creating a fairer future for everyone.

### speaking French: an unsuspected economic asset

On the occasion of the French language week, it is essential to highlight the economic dimension of the language of Molière. With 321 million speakers, the Frenchman establishes himself as the third business language in the world, representing around 30 % of international exchanges. In a context where English dominates, French offers a rich opportunity, particularly in Africa, where economic growth exceeds the global average. Knowing how to speak French can become a real passport for companies wishing to set up in these dynamic markets.

However, to take full advantage of this potential, the economic Francophonie requires investments in education and training. The challenges remain numerous, especially in the face of the rise of English in the digital landscape. However, promoting French as a language language could not only ensure its sustainability, but also catalyze new avenues of economic development. By celebrating and strengthening this linguistic wealth, we open the way to the Francophonie to play a key role on the world economic scene, complementing English rather than opposing it.

** The bisie mine: between rich promise and fragile realities **

Nestled in the hills of North Kivu, the bisie mine, led by Alphamin, emerges as a symbol of Congolese mining. With significant tin production, it generates millions of dollars in taxes for the Congolese state. However, this apparent prosperity is tinged with concerns: the majority of the local population remains on the sidelines of this wealth, faced with daily challenges in terms of health and education.

Rumors of illegal extraction of other ores and gold are added to the concerns about the transparency of business practices. In addition, the environmental and societal impact of mining poses crucial questions about its sustainability. For the bisie mine to become a real development lever, it must be accompanied by responsible governance and an involvement of local communities. The challenge is therefore to transform this resource into an asset for all, and not in curse. In this context, it is time to reconsider the economic model of mining in the Congo, to build a future where wealth really benefit those who live on these lands.

** Title: “For them”: a new breath for female entrepreneurship in the DRC **

In the Democratic Republic of the Congo, the “for themselves” project, supported by the French Development Agency, emerges as a catalyst for change for women entrepreneurs. By targeting cities like Kinshasa, Kikwit and Bukavu, this ambitious program offers nearly 1,200 women technical and financial support, promoting key sectors such as agrobusiness and digital.

The promising results of this initiative show that female economic empowerment could boost the country’s GDP significantly, while strengthening the resilience of companies led by women. Through inspiring testimonies like that of Laetitia, an entrepreneur who has multiplied her turnover thanks to training, “for them” embodies a new era of collaboration and solidarity between women.

This empowerment model may well serve as an example for other African nations, laying the foundations for a future in which each woman, in DRC and beyond, is able to transform her dreams into reality. The future belongs to those who dare, but it requires a concrete commitment to ensure this decisive transition.

** Mark Carney: Canada at the dawn of a new chapter **

On November 24, 2023, Mark Carney entered as a 24th Prime Minister of Canada, promising a pragmatic approach to contemporary challenges. Former governor of the Canadian and British central banks, Carney can sail through economic complexities, a major asset in the face of increasing tensions with the United States and global challenges such as climate change and inequalities. Its mandate will have to prioritize economic resilience, in particular through investment in green infrastructure, while diversifying commercial partnerships to reduce dependence on the American market. In parallel, tax reforms and social initiatives will seek to respond to housing crises and increasing inequalities. In short, Mark Carney is expected as the leader capable of redefining the future of Canada, combining economic skills and social vision for a changing country.