La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Mining and industrial transport: the Moroccan concessionaire Fenie Brossette dismissed his appeal in cassation against Cotradis

The Abidjan Court of Cassation in a recent decision confirmed the conviction of the Iveco concessionaire in Morocco and Côte d'Ivoire in the dispute between it and the Burkinabè specialist in mining and industrial transport Cotradis, indicates a delivery of our colleagues from Jeune Afrique Business +.
 
Mining and industrial transport: the Moroccan concessionaire Fenie Brossette dismissed his appeal in cassation against Cotradis

This is a new twist in favor of the mining and industrial transporter in the legal confrontation against a background of expertise and counter-expertise which opposes it to its ex-partner, the companies Fenie Brossette Maroc and Côte d ' Ivory. Indeed, Iveco's concessionaire in Morocco and Ivory Coast, Fenie Brossette, in open conflict with the Burkinabè group Cotradis, who accuses him of having falsified chassis equipment on an order for 20 trucks, has considering his appeal in cassation rejected by the Ivorian justice.

In a recent decision, the Court of Cassation dismissed the appeal brought by the companies concerned against the judgment rendered on 12 July by the Abidjan court of appeal for commerce. “We must make an exequatur of the decision in Morocco. Fenie Brossette had already observed provisions on the previous convictions, "told Jeune Afrique Business + Abdoul Kader Yada, head of Cotradis.




The same source stresses that, when contacted, Fenie's executives did not follow up on the request.

At the time, Cotradis had already won against Fenie Brossette and its Ivorian subsidiary. The latter had been condemned on appeal to pay 1.725 billion CFA francs (2.6 million euros) to Continental Transport and Distribution (Cotradis) for having modified the chassis of Iveco trucks. At the same time, criminal proceedings are underway in Burkina Faso, accidents causing death and serious injury due to modifications to the chassis.

The Abidjan commercial court had in fact already in February 2018 already condemned Fenie Brossette, led since 2019 by Abdelmjid Tazlaoui, for the payment of 1.5 billion CFA francs. This verdict also obliged the company to pay approximately 800 million CFA francs in provisional execution. What she was reluctant to do when the court of the chamber of commerce had, in its decision, approved the mechanical and financial reports requested by the Burkinabè company, without however accessing its financial claims, estimated at nearly 8 billion from F CFA.




Affirming that this litigation thwarted its expansion plan in the region, Cotradis (CA 7 billion) indicates that it was able to get back on track thanks to a contribution of 2.345 billion CFA francs provided by the African Solidarity Fund (FSA) for refinance its activities. "The support from the FSA and Banque Atlantique gives us hope with the start-up of the new Cimaf unit in Bobo-Dioulasso. We expect a resumption of projects put on standby during 2021 ", assures the Burkinabè entrepreneur.