26 January 2017
Atta Financial Update
Executive summary for the week of 17-Jan-17 to 24-Jan-17 (week 4)
The West African CFA Franc goes digital.
State-sponsored e-currencies are being hailed as the hottest new opportunity for emerging economies to adopt new technologies and partially leapfrog legacy development paths. Ecuador led the charge in 2015, with Tunisia being the first African country to digitise its currency in 2016 using block-chain technology.
Senegal will mint its own crypto-currency in 2017 in an attempt to improve financial inclusion across its economy – the eCFA is designed to work with existing mobile money platforms and allows national treasuries to benefit from specific fintech advantages without relinquishing control to decentralised organisations such as Bitcoin. On successful roll-out, the eCFA will have a multiplier effect across the region’s monetary union of eight countries and reassuringly issued by the Banque Régionale de Marché.
Fact: Sending a man to the moon and finding Osama bin Laden cost the US government about the same in terms of money and time
African Private Equity News (PE)
African focused private equity funds
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Carlyle Group has agreed to buy a significant stake in Global Credit Ratings Co. |
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GAIA to acquire a 25% stake in the Dorper Wind Farm |
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AfricInvest has teamed up with Bpifrance to launch the French African Fund |
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