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The Pan-African Economy in Brief: Saturday, December 7, 2019

Burkina Faso:
Wizall, a subsidiary of the BCP group, launches Wizall Money, a 100% inclusive mobile money solution:
Eleven months after the Banque Centrale Populaire Group (BCP) acquired a majority stake in Wizall, the start-up specialising in electronic payments, officially launched its activities in Burkina Faso during an official ceremony in Ouagadougou, in the presence of its shareholders, several distinguished guests and the media. On this occasion, Mr. Sébastien Vetter, Group Co-Founder and Chief Executive Officer, and Mr. Abdoul Kader Sawadogo, Chief Executive Officer of Wizall Burkina Faso, presented the vision and important innovations that will mark the presence of the BCP Group's subsidiary in Burkina Faso and the sub-region. With a disruptive economic model, based on a B to B to C strategy, Wizall Money mainly targets companies, NGOs and administrations, offering them a dedicated interface for payment transactions, including salaries, scholarships or grants but also collection...


Côte d’Ivoire:
Reduction in tax and customs exemptions from 243.4 to 222.8 billion CFA francs:
The costs of tax and customs exemptions granted by the State of Côte d'Ivoire fell from 243.4 billion CFA francs at the end of September 2018 to 222.8 billion CFA francs at the end of September 2019, a decrease of 8.5%, the Ivorian government announced on Wednesday. "At the end of September 2019, the costs of tax and customs exemptions amounted to 222.8 billion CFA francs compared to 243.4 billion CFA francs recorded at the end of September 2018, representing a decrease of 8.5%. They represent 8.6% of the gross revenues raised by the tax and customs administrations compared to 10% at the end of September 2018", said Sidi Tiémoko Touré, the spokesman for the Ivorian government at the end of a council of ministers chaired by President Alassane Ouattara...

Economy: The Banque Nationale d'Investissement (BNI) launches a new financial service called B.Free :
The banking environment is constantly changing and customers are becoming more and more demanding. In the face of fierce competition, it is essential for banks to equip themselves with modern and innovative tools capable of giving full satisfaction to their customers. The National Investment Bank (BNI) has decided to expand its offer of digital banking products by setting up a financial service called B. Free...

The National Investment Bank increases its capital:
On Wednesday, December 4, the Ivorian government authorized the increase in the share capital of the National Investment Bank (BNI) to the benefit of the Caisse Nationale de Prévoyance Sociale (CNPS). The operation involves some 4.859 billion CFA francs, made possible by the issue of 485,885 new shares held by the State for the benefit of the pension fund, with a nominal value of 10,000 CFA francs each, at a premium of 31,162 CFA francs per share. "The BNI's share capital has thus increased from 20.5 billion CFA francs to 25.359 billion CFA francs, with a total issue premium of 15.141 billion CFA francs, for 80.84% of the capital held by the State and 19.6% by the CNPS," the government said after adopting the decree...