• Government publishes the joint Mines–Finance circular needed to restart exports

• Miners faced weeks of delays despite the embargo being lifted in mid-October

• First shipments are expected only at the end of the month due to lengthy procedures

Cobalt exports from the Democratic Republic of Congo can now resume following the release of a joint circular from the Ministries of Mines and Finance on December 2, 2025. The document sets out the practical rules for export operations. Until its publication, shipments had remained blocked despite the formal end of the export embargo on October 15.

Mining companies had grown increasingly frustrated with the delays. On November 25, John Woto, deputy managing director of Tenke Fungurume Mining (TFM), questioned the holdup during the mining session of the Makutano Forum, noting that the sector had been told to wait for the joint ministerial order without clarity on its timing or its purpose.

In response, Mines Minister Louis Watum Kabamba said exports should have restarted during the week of November 24–30. He explained that the delay stemmed from the need to update the export procedures manual to reflect directives from the Authority for the Regulation and Control of Strategic Mineral Substances (Arecoms), including new advance-payment requirements for certain fees.

According to the minister, technical teams from the Mines and Finance ministries had to align their systems to apply the new framework. He said a full-scale test run involving all services took place the previous week and that, in his view, exports could resume immediately after the circular was signed.

The document released today was signed on November 26 by the Mines Minister. According to a member of the Chamber of Mines at the Federation of Congolese Enterprises (FEC), the Finance Minister’s signature was the final element needed.

With the circular now published, cobalt exports can resume. However, the first ton is not expected to leave the country until the end of the month because export procedures take several weeks.

Pierre Mukoko, Bankable

• Government grants official recognition to the new sector-wide organization

• Interprofession aims to improve production, quality, traceability, and farmer support

• Coffee-cocoa exports brought in CFA4,354 billion for Côte d’Ivoire in 2024

The government of Côte d’Ivoire has formally recognized the new Agricultural Interprofessional Organization for the coffee-cocoa sector, approving a decree on December 3, 2025 during a Council of Ministers meeting.

The interprofession was created at a constitutive general assembly on August 19, 2025 in Yamoussoukro. It brings together representatives from across the value chain and completes a process launched in February 2024.

The Coffee-Cocoa Council says the new structure will support a more integrated approach to production, quality control, traceability, and long-term sustainability. It is also expected to strengthen training, commercial negotiations, and support systems for farmers, while giving the sector greater visibility internationally.

With its official status, the interprofession becomes a central tool for regulation, coordination, and dialogue in a sector that plays a key role in the national economy. According to the government, the decree aligns with Ordinance No. 2011-473 of December 21, 2011 on Agricultural Interprofessional Organizations and aims to strengthen the performance of the coffee-cocoa sector and increase farmer income.

Data from the General Directorate of Customs show that Côte d’Ivoire earned about CFA4,354 billion ($7.73 billion) in 2024 from exports of cocoa and processed products such as paste, butter, powder, and chocolate.

The cocoa sector was also the country’s second-largest source of export duties and taxes in 2024, after petroleum products. The state collected CFA462.2 billion ($821.2 million) from cocoa and processed cocoa exports that year, according to customs data.

Stéphanas Assocle

• Company to invest about $378 million globally over two years

• Africa to receive 94 % of funding, targeting seven key markets

• Spending focuses on jobs, training, AI tools, and new infrastructure

CCI Global, one of Africa’s leading call-center operators, plans to invest about $378 million over the next two years to expand its operations in Europe, the Middle East, and Africa.

According to data shared with Bloomberg, 94 % of this amount — about $355.3 million — will be invested in Africa, compared with 5 % in the Middle East and 1 % in Europe. The African markets targeted include South Africa, Kenya, Rwanda, Ethiopia, Ghana, Botswana, and Egypt.

“This distribution reflects CCI Global’s continued focus on Africa as the heart of its operations, while deepening its presence in Europe and the Middle East to support global clients more seamlessly,” said the Dubai-based group.

More than half of the company’s planned investment will go toward workforce expansion, training, and development across all regions. Another 38 % will be dedicated to integrating artificial intelligence, automation, and other advanced customer-experience technologies, while 10 % will be used to open new offices and upgrade infrastructure.

CCI Global is one of the largest business-process outsourcing (BPO) and customer-experience service providers on the continent. The group employs about 15,000 people and serves more than 80 companies across telecommunications, media, mobile technology, financial services, hospitality, and healthcare.

Customer-service outsourcing by global companies could create up to 1.5 million new call-center jobs in Africa by 2030, according to a report released in August by CCI Global and consulting firm Everest Group. About 85 % of global companies are actively considering Africa for customer-service outsourcing, with strong interest in South Africa, Kenya, and Egypt.

Walid Kéfi

• Parliament adopts CFA335.2 billion budget for 2026 transport programs

• Road transport receives the largest share, followed by air and rail projects

• Funding supports ongoing upgrades to roads, rail, airports, and urban mobility

The Senegalese Ministry of Land and Air Transport will have a budget of CFA335.2 billion (about $595.4 million) for the 2026 fiscal year to support modernization and performance in the sector. The project was adopted on Monday, December 1, 2025, by the National Assembly following a presentation by Minister Yankhoba Diémé (photo).

“This budget reflects the ambition to modernize infrastructure, improve citizens’ mobility, and strengthen the security and competitiveness of transport in Senegal,” according to the Parliament’s X account.

The budget is structured around four programs. The first, focused on management, coordination, and administrative oversight, will receive CFA1.6 billion. The second, dedicated to developing and modernizing the rail network and transport systems, will receive CFA44 billion. Road transport development and modernization account for the largest share, at CFA215.2 billion, reflecting the strategic importance of the national road network. Air transport development is allocated CFA74.3 billion to strengthen capacity and competitiveness.

L’Assemblée nationale a adopté, ce lundi 1ᵉʳ décembre, le budget 2026 du Ministère des Transports terrestres et aériens. Le ministre de tutelle, Yankhoba Diémé, a présenté et défendu devant la représentation nationale un budget global de 335 234 538 370 FCFA, destiné à soutenir… pic.twitter.com/kc8LeoGc8z

— Assemblée nationale du Sénégal (@assembleesn) December 2, 2025

In recent years, Senegal has undertaken a broad effort to modernize its transport infrastructure. Special attention has been given to upgrading rail lines linking interior regions. The government has also invested in modernizing roads, ports, and airports to strengthen national integration.

The launch of the Regional Express Train (TER), linking Dakar to Blaise-Diagne International Airport, illustrates this ambition, as does the Bus Rapid Transit (BRT), operational since 2023 and connecting the city center to the suburbs across 23 stations. Additional efforts include maritime cabotage initiatives and the gradual development of a truly multimodal transport system.

Ingrid Haffiny (intern)

• Ethiopia adopts “Digital Ethiopia 2030” to guide digital transformation
  

• Strategy targets infrastructure, connectivity, innovation, and public service digitization
  

• Plan aims to attract investment and boost economic modernization efforts

Ethiopia’s Council of Ministers adopted the “Digital Ethiopia 2030” strategy on Saturday, according to the Ethiopian News Agency. The document sets national priorities for accelerating the country’s digital transformation over the next five years and replaces the “Digital Ethiopia 2025” plan that ends this year.

The agency said the strategy aims to create more opportunities for the population, strengthen technological capabilities, expand key infrastructure, improve governance and drive economic development.

The roadmap builds on recent efforts to digitize public services, modernize the economy and advance digital inclusion. It focuses on several priority areas: developing digital infrastructure, improving connectivity, strengthening cybersecurity, supporting tech innovation and entrepreneurship, and transforming public services.

For Addis Ababa, the strategy is both a driver of domestic modernization and a tool for attracting international investment. The government hopes to draw more capital into telecoms, digital services and emerging tech industries while improving the efficiency of public services and administrative transparency.

Adoni Conrad Quenum

• 16 of Nigeria’s 36 banks have met new capital requirements by Nov. 2025
  

• Recapitalization aims to boost sector strength before March 2026 deadline
  

• Banks must raise capital up to 500B naira based on license category

By late November 2025, 16 of Nigeria's 36 banks have already met or exceeded new capital requirements, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso said on Friday.

Cardoso disclosed the information during the 60th bankers' dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN). Banks that have met the required threshold include Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, Stanbic IBTC, Premium Trust Bank, Providus Bank, Lotus Bank and Greenwich Merchant Bank.

According to Cardoso, 27 banks have raised funds through public offers and capital increases. Several other institutions are at an advanced stage in the process.

"With just four months to the conclusion of the recapitalisation exercise, I am pleased to report that the process is firmly on track. Several banks have already met the new capital thresholds, while others are advancing steadily and are well positioned to comfortably meet the March 31, 2026 deadline," the governor said.

The recapitalization program was announced in November 2023 and formalized in CBN directives published on March 28, 2024. It requires each bank category to hold capital proportional to its operational scope. International commercial banks must raise their capital from 50 billion to 500 billion naira. National commercial banks must increase from 25 billion to 200 billion naira. Regional commercial banks must reach a minimum capital of 50 billion naira, up from 10 billion previously. For non-interest banks, the thresholds are set at 20 billion naira for national licenses and 10 billion for regional licenses.

Nigeria previously conducted a major banking sector recapitalization in 2004. At the time, the central bank raised capital levels from 2 billion to 10 billion naira for regional banks, to 25 billion for national banks and to 50 billion for international banks. That reform led to sector consolidation, reducing the number of banks from 89 to 25. It also created larger institutions capable of withstanding economic shocks and financing bigger operations.

The recapitalization launched in 2024 pursues the same objectives: to strengthen capital bases, improve balance sheet soundness, facilitate banks' international expansion and support more stable economic growth.

Chamberline Moko

• US pledges $150M to Zipline for African drone logistics, but funds are conditional on nations paying ~80% of costs via binding contracts.

• The plan triples Zipline’s reach to 15,000 facilities, serving 100M+ people and cutting life-threatening medical stock-outs to under 2%.

• This "America First" model pushes fiscal risk to African states, requiring dollar-denominated payments for US tech to modernize supply chains.

The United States Department of State has announced a landmark grant of up to $150 million to support Zipline, the San Francisco–based leader in autonomous medical drone delivery. Announced on November 25, 2025, this initiative represents the most significant single commitment to a drone-powered healthcare logistics system on the African continent.

However, unlike traditional aid programs, which disburse funds upfront, this grant operates on a strict "pay-for-performance" model. No U.S. funds will flow to Zipline until the company secures binding, multi-year service contracts with African governments. The goal is ambitious: to triple Zipline’s current coverage from 5,000 to 15,000 health facilities, bringing on-demand delivery of blood, vaccines, and medicines to over 100 million people across countries like the DRC, Uganda, and Zambia.

This expansion relies on proven metrics. Independent studies by organizations such as the World Health Organization and PwC have documented that Zipline’s system can reduce delivery times from days to under 30 minutes and cut life-threatening stock-out rates from 40% to below 2%. By leveraging this technology, the program aims to create at least 800 skilled local jobs in aviation and pharmacy operations while modernizing supply chains in rugged terrain.

Yet, the financing structure places the heavy lifting on African states; participating governments are expected to finance 73–80% of the overall program costs—estimated at up to $400 million over three years—through their own public budgets. This conditionality marks a distinct departure from old philanthropy, framing the deal not as charity, but as a commercial partnership incentivized by Washington.

Strategic Calculations: The "America First" Approach and the Cost for Africa

This initiative is a clear reflection of the 2025 "America First" global health policy, which prioritizes U.S.-manufactured technology and the preservation of American engineering jobs over traditional direct aid. It offers a lighter, tech-driven alternative to China’s infrastructure-heavy engagement in Africa, effectively blending global health objectives with industrial policy.

For African governments, the proposal offers undeniably attractive operational efficiencies, particularly the ability to lower distribution costs by up to 60% in remote areas. However, the model introduces significant fiscal and sovereign risks that finance ministries must carefully weigh.

The primary challenge lies in the long-term fiscal pressure. With service contracts priced in U.S. dollars, African nations face exposure to exchange-rate volatility and high recurring costs that could squeeze already constrained health budgets. Furthermore, there is a risk of "vendor lock-in"; once a national distribution network is built around Zipline’s proprietary infrastructure, switching providers becomes costly and complex.

While the drone network solves critical "last-mile" problems, it does not replace the need for basic road and cold-chain infrastructure. Ultimately, while the U.S. is enabling this expansion, the success of the project will depend on African governments' ability to negotiate transparent contracts and integrate this high-tech solution into a sustainable, sovereign health strategy.

• Spending plan reaches CFA8816.4 billion, up 14% from 2025

• Special Accounts nearly double after creation of a new women and youth fund

• Financing needs total CFA3104.2 billion amid high debt-risk warnings

The government submitted its draft 2026 finance bill to the National Assembly on Wednesday, November 26. According to the explanatory statement that Finance Minister Louis Paul Motazé is set to defend before lawmakers, the proposed budget balances revenues and spending at CFA8816.4 billion (about $14.7 billion), up by more than CFA1000 billion year on year, or +14%.

Of this total, the general budget stands at CFA8683.9 billion, an increase of CFA1014.9 billion (+13%) compared with 2025. Special Accounts (CAS) are projected at CFA132.5 billion, almost twice the CFA65.6 billion recorded in 2025 (+98.1%).

This sharp rise in CAS reflects the creation of a “Special Fund for supporting the economic empowerment of women and promoting youth employment,” endowed with CFA50 billion, “in line with commitments made by the Head of State during his swearing-in,” the explanatory statement says.

A budget aligned with SND30

The 2026 revenue and spending estimates show a budget deficit of CFA631 billion. Including “other financing charges,” the government’s total funding need reaches CFA3104.2 billion. Beyond projected domestic revenues of CFA5887 billion, Cameroon will need to mobilize an additional CFA3104.2 billion through various debt instruments to cover all planned spending.

To achieve this, the government plans to rely on loans from international development partners and fundraising on the regional capital market. The draft bill includes CFA826.7 billion in project loan disbursements, CFA1000 billion in external borrowing, CFA167.8 billion in exceptional financing, and CFA120 billion in budget support. It also provides for CFA589.7 billion in bank loans and CFA400 billion in public securities issued on the money market.

These new borrowings will add to an already high-risk debt profile. The African Development Bank (AfDB) and the International Monetary Fund (IMF) classify Cameroon among countries facing a high risk of debt distress. The government maintains, however, that its projections show the debt level in 2026 remaining well below the 70% of GDP threshold used in CEMAC’s multilateral surveillance rules. CEMAC includes Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic.

The government presents the 2026 budget as a tool for consolidating public finances and aligning with national development targets. “In 2026, the overall orientation of fiscal policy remains the consolidation of public finances, in line with the CEMAC convergence pact, while ensuring the effective implementation of the priority goals of the SND30 (National Development Strategy 2020–2030),” the explanatory statement says.

Beyond its alignment with CEMAC criteria and SND30 priorities, the challenge will shift to execution: mobilizing, at a sustainable cost, the CFA3104.2 billion in planned financing; controlling debt dynamics in a context of already high risk; and delivering concrete results for jobs and the productive sector, especially for women and young people.

Brice R. Mbodiam, Business in Cameroon

• Army general Horta N’Tam is sworn in as transition president for one year

• Ceremony follows a military coup and arrests of top political and security figures

• IMF sees 5.5% GDP growth in 2025 despite persistent political instability

General Horta N’Tam, chief of staff of the army, was officially sworn in on November 27 as “president of the transition and head of the High Military Command for the restoration of national security and public order.” The transition period is set at one year.

“The country is facing a politically difficult and delicate moment. The challenges we must confront are immense and urpgent. We must fight with determination the narcotrafficking networks that corrupt the state, politics, and society,” the new transition leader said.

The announcement came one day after a military coup. On 26 November, soldiers declared they had taken control of the country while Bissau was still awaiting the results of the 23 November presidential election.

Military forces reportedly arrested outgoing president Umaro Sissoco Embaló, the army’s chief of staff General Mamadou Touré, and Interior Minister Botché Candé.

According to media reports, opposition candidate Fernando Dias da Costa said he was in a safe location. Domingos Simões Pereira, head of the Partido Africano da Independência da Guiné e Cabo Verde (PAIGC), was reportedly detained at an air force base.

The African Union (AU) and the Economic Community of West African States (ECOWAS) “unequivocally condemned” the coup, calling for the “immediate and unconditional” release of Mr. Embaló and the other detainees, and urging the population to remain calm.

DÉCLARATION CONJOINTE DES CHEFS DE MISSIONS ÉLECTORALES DE LA CÉDÉAO, DE L'UNION AFRICAINE ET DU FORUM OUEST-AFRICAIN DES SAGES AU SUJET DE LA SITUATION POST- ELECTORALE EN REPUBLIQUE DE GUINÉE-BISSAU. pic.twitter.com/LX3yU2SRfh

— Ecowas - Cedeao (@ecowas_cedeao) November 26, 2025

Located in West Africa, Guinea-Bissau has faced persistent political and institutional fragility since its independence in 1974. According to the World Bank, it remains one of the countries most exposed to coups and instability, with four successful takeovers and seventeen other attempts, plots, or allegations recorded.

The 2019 elections were followed by a political crisis that ended in April 2020 with ECOWAS recognition of Umaro Sissoco Embaló as president.

Economically, the country has shown resilience despite multiple challenges. The IMF projects GDP growth of 5.5% in 2025, driven by strong cashew production, domestic consumption, and private investment. However, this outlook could be constrained by international commodity shocks and political instability.

Lydie Mobio

• Anthony Mavunde remains in office as Tanzania prepares new mining reforms

• President Hassan plans a mining sovereign fund and a multi-mineral refinery

• Government aims to boost local value and expand critical minerals projects

In Tanzania, Mines Minister Anthony Mavunde (photo) is among the officials retained in the new government formed by President Samia Suluhu Hassan. The leader, re-elected last October, has announced the upcoming creation of a sovereign wealth fund dedicated to the mining sector, along with broader reforms to increase its contribution to the economy. Mr Mavunde will remain in office to lead this policy.

Active in politics since his youth, the current Mines Minister joined the government for the first time in 2015 as Deputy Minister of Labor until 2020 under President John Magufuli. He was called back in 2023 by his successor to take over the Mines portfolio. Under his leadership, the sector’s share of GDP reached 10.1 % in 2024 (up from 6.8 % in 2020), surpassing by one year the target set in the 2021/22–2025/26 five-year development plan.

President Hassan is now setting new goals, including the creation of a mining sovereign wealth fund. In her speech at the opening of the National Assembly plenary session on November 14, she described it as a long-term investment tool meant to protect current mining revenues.

“Minerals are not like maize, where after harvesting you set aside seeds for replanting. Minerals have an end. We are doing this so that when future generations arrive and find only pits, they will also find funds to support their livelihoods,” she said.

In addition to the new fund, Ms Hassan announced her intention to have a refinery built in Tanzania by 2030 to process several minerals. The project is expected to end the export of raw minerals and create local jobs. She also said the national strategy for critical minerals is being finalized. It will identify the types, locations, and quantities of critical minerals available in the country.

Tanzania already produces graphite, used in electric vehicle batteries, and will soon begin large-scale rare earth mining with the Ngualla project. Used in the automotive and wind industries, rare earths are among critical minerals whose supply is concentrated in China. Tanzania is therefore positioning itself as an alternative to this dominance. The country also hosts lithium, another metal in rising demand due to the energy transition.

The priorities set by Samia Suluhu Hassan for her Mines Minister are significant. Mr Mavunde will have to overcome several challenges to meet his targets. Tanzania will need to mobilize the substantial investments required for the refinery, at a time when the ban on exporting several raw minerals has not yet increased local processing.

In addition, prices for some critical minerals, including lithium and graphite, have declined in recent years, temporarily reducing certain investments. Finally, the creation of a sovereign wealth fund alone does not guarantee long-term prosperity without efforts to ensure sound management of mining revenues and diversify the economy, as the case of Botswana illustrates.