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UNITED KINGDOM IC PUBLICATIONS 7 Coldbath Square, London EC1R 4LQ Tel: +44 20 7841 3210 icpubs@icpublications.com https://african.business FRANCE IC PUBLICATIONS 609 Bat A 77 rue Bayen 75017 PARIS Tel: +33 1 44 30 81 00 info@icpublications.com www.icpublications.com FOUNDER Afif Ben Yedder PUBLISHER & EDITOR-IN-CHIEF Omar Ben Yedder | o.benyedder@icpublications.com EDITOR David Thomas | d.thomas@icpublications.com EDITOR-AT-LARGE Hichem Ben Yaïche | h.benyaiche@icpublications.com DIGITAL EDITOR Shoshana Kedem | s.kedem@icpublications.com SUB EDITOR Charles Dietz | c.dietz@icpublications.com HEAD OF BUSINESS INTELLIGENCE Desné Masie | d.masie@icpublications.com VP DEVELOPMENT Saliba Manneh | s.manneh@icpublications.com PROJECTS DIRECTOR Zine Ben Yahmed | z.benyahmed@icpublications.com ADVERTISING SALES DIRECTORS Medrine Chitty, Baytir Samba, Nick Rosefield ADVERTISING advertising@icpublications.com DISTRIBUTION distribution@icpublications.com PRODUCTION MANAGER Sophie Dillon| s.dillon@icpublications.com TUNISIA Slah Nouri | s.nouri@icpublications.com Néjib Ben Yedder | n.benyedder@icpublications.com Mohamed Ali Aboudi | m.aboudi@icpublications.com Tel: +216 98 351 844 App A1-6, Imm. Yasmine Tower, Boulevard de la Terre, Centre Urbain Nord, Tunis 1082, Tunisia GHANA – SPECIAL PROJECTS AND ADVERTISING Silvia Salvetti Ollennu Top Reports Tel: +233 24 910 5995 top@topreports.org IC EVENTS info@ic-events.net SUBSCRIPTIONS IC Publications Webscribe Unit 4, College Business Park, College Road, North Aston Clinton HP22 5EZ UK Telephone + 44 (0) 1442 820580 contact@webscribe.co.uk https://african.business/subscribe PRINTERS Roularta Media Group Meensesteenweg 300 8800 Roeselare Belgium

All pictures AFP unless indicated. Registered with the British Library. ISSN 0142-9345

N° DE COMMISSION PARITAIRE 0419 K 89806 Mensuel: Août/Septembre 2021 Dépôt légal

©2021 IC Publications Ltd

CONTENTSContents

Cover story: Sall’s Senegal shakeup

Business Intelligence 4 News and deals from around Africa

Cover story: Senegal 12 Sall’s Senegal attracts investors 16 Agricultural bank targets smallholder revolution 19 Senegal rides wave of tech success

Opinion 22 Africa must avert “climate action famine” 24 Why the West can’t be trusted in climate negotiations

Special report: Africa’s 100 Top Banks 27 Africa’s top banks continue growth trajectory 34 Ecobank’s successful strategy in Francophone Africa 36 Regional focus: North Africa 38 Regional focus: West and Central Africa 40 Regional focus: East Africa 42 Regional focus: Southern Africa

46 Interview: Segun Agbaje,

Group CEO, GTBank 48 Investors catch Africa fintech bug

Features 50 Why investors should look at Zimbabwe 52 TikTok wins over Africa’s youth 54 Interview: Bruno Pietracci,

President, Africa, The Coca-Cola Company 58 Nigeria’s investment upstarts 60 Desalination plants slake Africa’s thirst

Countryfiles 76 Nigeria passes Petroleum Industry Act 78 Guinea coup spooks markets

Book review 80 White Malice: The CIA and the

Neocolonialisation of Africa by Susan Williams

Editor’s View 82 How can West Africa avoid more military coups?

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