France, West Africa to unite forces in fight against extremists
January 14, 2020, 10:54 am

France, West Africa to unite forces in fight against extremists

A French soldier stands guard in an armored vehicle in a military operation in Mali. (File photo Reuters)

France and five West African states agreed on Monday to combine their military forces under one command structure to fight growing extremist militancy in the Sahel region, with Paris committing an extra 220 troops.

French President Emmanuel Macron had called the leaders of Mali, Burkina Faso, Chad, Niger and Mauritania, known as the G5, to the southwestern French town of Pau to discuss the battle against insurgents in the Sahel, an arid region just below the Sahara desert.

With growing anti-French sentiment in the five countries over Paris’ handling of an insurgency by extremists that have seen hundreds of their soldiers killed in recent weeks, Macron had warned that he could withdraw French troops without a clear political commitment from them.

France, the former colonial power, has 4,500 troops in Mali and the wider Sahel, but security has been progressively worsening. Macron said the situation had now been clarified.

Militants linked to al-Qaeda and ISIS have strengthened their foothold, making large swathes of territory ungovernable and stoking ethnic violence, especially in Mali and Burkina Faso.

“Today, more than ever, the fact is that the results, despite the effort, are below the expectations of the population,” Burkina Faso President Roch Marc Kabore told a joint news conference. “It’s for this reason that we have decided to review the deployment and redefine the pillars for our future action.”

The new structure, named Coalition for the Sahel, brings the G5 states, French forces, and any future troops under a single command. It aims to enable joint operations, greater intelligence-sharing and quicker response time in particular for French forces in the border areas linking Niger, Mali and Burkina Faso, where the insurgency is at its worst.

Concerns over US presence

Criticized in France for allowing French troops to get bogged down and facing growing hostility in West Africa for failing to restore stability, Macron has become increasingly frustrated, but the French leader appeared satisfied with Monday’s results.

Another 220 French troops will be sent to give fresh momentum to the fight with more European special forces expected to join in the coming months, he said.

“The priority is ISIS in the Grand Sahara. ... It is our priority because it is the most dangerous,” Macron said. “We have no choice, we need results.”

French troops were hailed as heroes in 2013 when their intervention helped prevent an Islamist militant push to the Malian capital, Bamako.

But their standing has slipped as the security situation deteriorated. At least 89 local soldiers were killed in a suspected terrorist attack on an army base in Niger this weekend, four security sources said.

Pau, the location of the summit, is home to a helicopter regiment that saw several of its French soldiers killed in a helicopter collision in Mali in November.

Macron said he was also worried about a possible withdrawal by the United States military in the area. It provides intelligence, logistical and drone support for France’s forces. There have been mixed signals from Washington that it could pull out.

“If the Americans were to decide to leave Africa it would be really bad news for us,” Macron said. “I hope to be able to convince President (Donald) Trump that the fight against terrorism also plays out in this region.”

source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.