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The EU has removed the United Arab Emirates from its money-laundering "high-risk" list, alongside Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, and Uganda. However, Monaco and ten other jurisdictions, including Algeria and Venezuela, have been added to the list for increased monitoring. This update reflects the EU's commitment to align with international standards set by the Financial Action Task Force.
DP World Trade Finance and J.P. Morgan have partnered to address a $2.5 trillion global trade finance gap, enhancing access to working capital in emerging markets. Their first collaboration funded cocoa procurement in the Ivory Coast, boosting local liquidity by over $70 million. This initiative reflects a growing trend in trade finance innovation, with integrated logistics-finance models aimed at supporting SMEs traditionally overlooked by lenders.
Tidjane Thiam, former CEO of Credit Suisse, has been legitimized by an Abidjan court to remain chairman of the Democratic Party of Côte d'Ivoire (PDCI) after a trial questioning his Ivorian citizenship. Although he was initially deemed to have been elected illegally in December 2023 due to dual citizenship issues, he was re-elected in May 2025 after renouncing his French citizenship. However, Thiam remains ineligible for the presidential election scheduled for October 25, 2025.
The disqualification of Tidjane Thiam, former CEO of Credit Suisse and leader of Côte d’Ivoire’s main opposition party, from the presidential race raises concerns about the country's investment climate. His lawyer argues that this decision undermines trust in the legal system, potentially deterring foreign investment. Analysts warn that the political uncertainty, coupled with President Alassane Ouattara's ambiguous future, could destabilize Côte d’Ivoire, which has been recognized for its strong economic growth and governance in the region.
The cocoa market has seen unprecedented volatility, with prices soaring above $12,000 per metric ton in December 2024, driven by climate disruptions and supply constraints in West Africa. Speculative trading intensified this volatility, while new US tariffs on chocolate imports further strained supply chains and raised consumer prices. Major chocolate manufacturers are now facing rising ingredient costs, prompting potential price increases for consumers.
Nigerian B2B e-commerce startup OmniRetail has secured $20 million in Series A funding to expand its operations in West Africa. Founded in 2019, the company supports informal retailers through its platform, Omnibiz, and tools like OmniPay and Mplify, serving over 150,000 small retailers across 12 cities. The funding round, co-led by Norfund and Timon Capital, will enhance its embedded finance products and logistics infrastructure in Nigeria, Ghana, and Ivory Coast.
OmniRetail, a Nigerian B2B e-commerce startup, has secured $20 million in a Series A funding round co-led by Norfund and Timon Capital, marking Norfund's first direct equity investment in an African startup. Founded in 2019, the company connects over 145 manufacturers and 5,800 distributors with more than 150,000 informal retailers across Nigeria, Ghana, and Ivory Coast through its mobile app, which facilitates inventory orders and digital payments.With this investment, OmniRetail aims to expand its market presence and enhance its embedded financial services, having already achieved EBITDA positivity in 2023 and net profitability in 2024. The company has raised a total of $38 million in equity and debt funding, positioning itself as one of Africa's fastest-growing companies.
Tidjane Thiam, the former CEO of Credit Suisse, has been barred from running in the upcoming Ivorian presidential election due to a court ruling on his nationality. He plans to appeal the decision to the Court of Justice of the Economic Community of West African States (ECOWAS), stating, "It’s me or no one," as his party will not nominate another candidate. This ruling follows the removal of other political opponents from the electoral roll, including former president Laurent Gbagbo.
Tidjane Thiam, the former CEO of Credit Suisse, has been barred from running for president of Côte d'Ivoire due to a court ruling that states he has lost his Ivorian citizenship. Despite being chosen as the presidential candidate by his party, the court's decision prevents him from participating in the upcoming election scheduled for October 2025. Thiam's citizenship status was affected when he acquired French citizenship in 1987, and no appeal can be made against the ruling.
Tidjane Thiam, the former CEO of Credit Suisse, is running for president of Côte d'Ivoire after being nominated by the Democratic Party of Côte d'Ivoire. At 62, he has renounced his French citizenship and aims to leverage his political experience, despite facing challenges due to his long absence from the country and a controversial tenure at CS. Thiam, whose family has ties to the country's first president, is competing against the ruling RHDP party, with incumbent Alassane Ouattara potentially seeking a fourth term at 83.
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