• European Investment Bank to provide $34 million in new funding to support Tunisia’s water infrastructure

• Main project includes new water treatment plant and pipeline upgrades to meet growing demand

• Tunisia steps up climate adaptation as food inflation rises and water scarcity worsens

The European Investment Bank (EIB) will lend Tunisia a total of €30 million ($34 million) to help improve access to drinking water and strengthen the country’s ability to adapt to climate change.

The announcement came during a visit to Tunis by EIB Vice-President Ioannis Tsakiris on April 28 and 29.

The funding will support two separate loans. A total of €22 million will go to Tunisia’s national water utility, SONEDE, to complete a key project aimed at securing drinking water for Greater Tunis. The plan includes building a new treatment plant in Bejaoua, laying pipelines, and installing pumping stations and water tanks. The goal is to prepare for a projected 50% increase in demand by 2040.

The second loan, worth €8 million, will be granted directly to the Tunisian government. It will support broader efforts to improve public access to clean water and strengthen sanitation systems, in partnership with SONEDE and the national sanitation utility ONAS.

“Through these two partnerships with the Tunisian government, SONEDE, and ONAS, the EIB is supporting practical, people-centered solutions. Whether it is about securing access to clean drinking water or improving sanitation through nature-based approaches, our goal is to help Tunisia build resilience in the face of climate challenges,” said Tsakiris.

Tunisia has been facing serious water stress due to repeated droughts and high agricultural consumption. Water shortages have cut crop yields and worsened food insecurity at a time when food prices are already rising. In March 2025, food inflation hit 7.8%, up from 7% the previous month, according to the National Institute of Statistics.

To manage the crisis, authorities are rolling out several solutions. These include better water management, more seawater desalination, and public awareness campaigns. Under the 2025 state budget, an extra 2 million dinars ($669,573) was added to the National Housing Improvement Fund to help households build rainwater storage tanks.

Despite progress, challenges remain. While access to drinking water rose from 82% in 1990 to 97% in 2012, about 250,000 people in Tunisia still rely on unsafe sources. The country aims to reach universal access to clean water and sanitation by 2030.

The EIB remains one of Tunisia’s key development partners, financing major projects in water, energy, education, transport, healthcare, and local development. In 2024, the bank invested over €415 million in Tunisia to support long-term infrastructure upgrades.

• Nigerian startup secures $20 million Series A to grow in Nigeria, Ghana, and Côte d’Ivoire
• Backers include Norfund, Timon Capital, Ventures Platform, and Flour Mills of Nigeria
• Company reached profitability in 2024 and processed over $808.7 million in transactions

OmniRetail, a Nigerian startup helping informal retailers digitize their supply chains, has raised $20 million in Series A funding to grow its business across West Africa.

The funds will support its operations in Nigeria, Ghana, and Côte d’Ivoire. OmniRetail also plans to expand its embedded finance tools, including credit for small retailers.

The round was led by Norfund—marking its first direct investment in an African startup—and Timon Capital, which backed the company in 2022. Other investors include Ventures Platform, Aruwa Capital, Goodwell Investments via Alitheia Capital, and Flour Mills of Nigeria.

In October 2024, OmniRetail acquired Traction Apps, a Nigerian fintech that provides payment and retail tools for small businesses. This helped strengthen OmniRetail’s services for FMCG distributors and improved its tech offering.

The company had raised $15 million in 2022 in a pre-Series A round backed by Timon Capital and others. With the latest round, it has now secured around $38 million since launch.

In 2024, it turned profitable. It processed more than 1,300 billion Naira ($808.7 million) in transactions and grew revenue by 40%. Its BNPL platform now disburses about 19 billion Naira in credit each month.

Informal retailers are central to trade across sub-Saharan Africa but face weak supply chains and limited access to credit. OmniRetail connects them with manufacturers and distributors through a digital platform backed by financial services, aiming to improve how informal trade works.

Global uranium demand will rise 28% from 2023 to 2030, according to the World Nuclear Association. Several uranium projects were recently launched all over the world, and especially in Africa, to meet this demand.

African uranium developers await better market conditions before making final investment decisions (FID). Bannerman Energy, in its April 24 quarterly report, said current nuclear fuel markets do not justify finalizing deals for its Etango project in Namibia.

“As a result, and despite being at a highly advanced stage with respect to all key workstreams, we are not seeing the appropriate market conditions to warrant finalising offtake and financing arrangements for the development of Etango,” Brandon Munro, Bannerman’s CEO, commented.

Deep Yellow made a similar announcement on April 8. It postponed the FID for its Tumas project in Namibia, citing uranium prices too low to support new projects. The company noted uranium prices hover around $80 per pound, below the $82.5 reference price needed for development.

Aura Energy, which develops the Tiris project in Mauritania, watches uranium futures closely but has not tied its FID to market prices. CEO Andrew Grove said utilities temporarily withdrew from the market due to large stockpiles, which now slow sector momentum. He expects a gradual market recovery once those inventories clear.

The uranium futures market matters because nuclear plants buy most uranium through it. This allows them to lock in low prices, which affects mining companies’ profitability. With demand expected to jump 28%, miners like Bannerman and Deep Yellow want to boost supply but need commercial terms that support investment planning.

Market conditions are not the only hurdle. Financing also slows things down. For example, Aura Energy seeks 50% to 60% of the $230 million needed for Tiris from a Western development bank. Meanwhile, Global Atomic tries to secure a $295 million loan for its Dasa project in Niger but has yet to succeed.

This article was initially published in French by Aurel Sèdjro Houenou

Edited in English by Jason Ange Quenum

Facing a prolonged slump in diamond demand and declining prices, De Beers has trimmed its 2025 production forecast to between 20 and 23 million carats, down from an initial range of 30 to 33 million carats. 

According to its quarterly report published on April 24, De Beers’ consolidated diamond sales in Q1 2025 totaled $520 million, down 44% compared to $925 million in Q1 2024.

De Beers reported selling 4.7 million carats of rough diamonds in its two regular sales during the first quarter of 2025, slightly below the 4.9 million carats sold in the same period last year. The average consolidated price dropped sharply by 38% to $124 per carat, a decline the company attributes to a shift in sales mix, inventory rebalancing, and a 15% fall in the average rough price index. This downturn comes amid persistent global weakness in diamond demand. 

In response, De Beers has cut its 2025 production forecast to between 20 and 23 million carats, down from the 30 to 33 million carats initially projected. Production in the first quarter fell 11% year-over-year to 6.1 million carats, signaling the company’s cautious approach. 

Adding to the market pressures, the diamond trading platform Uni Diamonds report that new U.S. tariffs under the Trump administration have dampened consumer confidence, with industry experts warning that these policies will likely affect prices, demand, and supply in the coming months.

This unfolding situation must be viewed within the broader context of the ongoing separation between De Beers and its parent company, Anglo American. While the full impact of current market challenges on this strategic split remains unclear, questions linger over whether these difficulties could delay or alter the planned $6 billion investment to expand the Jwaneng mine in Botswana.

This article was initially published in French by Aurel Sèdjro Houenou

Edited in English by Ange Jason Quenum

The world’s seabed holds mineral resources valued at $100 trillion. Interest in these critical minerals—cobalt, nickel, and rare earths—has surged recently, yet exploitation remains limited.

On April 24, 2025, President Donald Trump signed an executive order to fast-track seabed mining permits in US waters. Though focused on national territory, the move could ignite a global scramble for seabed minerals.

Already, US companies, like Impossible Metals and The Metals Company, have started seeking licenses to mine the deep seabed. The order directs the federal government to speed up permit approvals, estimating the industry could add $300 billion to US GDP over ten years and create 100,000 jobs.

The order also calls for exploring mining opportunities beyond national jurisdictions but offers no details on how the US plans to pursue this extraterritorial ambition.

The deep seas hold vast mineral wealth, but commercial mining remains stalled internationally. Countries await a global regulatory framework from the International Seabed Authority (ISA), established in 1994 to oversee "responsible" mining of these common heritage resources. However, negotiations have dragged on for years amid persistent state disagreements.

Tech giants like Google and environmental groups, including the World Wildlife Fund (WWF) demand a moratorium on seabed mining, warning of severe risks to ocean biodiversity. The Biden administration aligned with the G7 in 2022, insisting mining should only proceed if it does not cause "serious environmental damage."

By speeding up mining permits in its waters and eyeing operations beyond national borders, the U.S. breaks from this cautious stance. Washington’s move could prompt other nations, especially in the Pacific and Indian Oceans, to jumpstart their mining efforts, reviving global competition for strategic deep-sea minerals without waiting for a multilateral deal.

This American shift may force a quick clarification of international positions. The ISA could face pressure to speed up consensus-building to avoid being sidelined. Alternatively, the US example might fragment approaches, with each nation pursuing seabed mining based on its own priorities.

This article was initially published in French by Emiliano Tossou

Edited in English by Ange Jason Quenum

Traditional telecom models are becoming outdated, prompting a shift to cloud-based platforms that reduce operational costs while enhancing scalability and efficiency. This move future-proofs MTN’s operations, ensuring long-term growth and sustainability.

MTN South Africa has partnered with LotusFlare, a cloud-native digital commerce and monetization platform provider, to drive innovation and improved customer experience in the South African telecom market. The partnership was announced on February 28.

Sam Gadodia, CEO of LotusFlare, expressed excitement about the collaboration, stating:
"We are thrilled to partner with MTN South Africa, a true leader in the African telecommunications market. Our Cloud platform will help MTN realize its vision of delivering an exceptional customer experience."

The partnership will see MTN utilize LotusFlare’s Cloud platform to improve its flexibility in adapting to changing customer demands. This initiative is expected to set a new benchmark for digital transformation within the country’s telecommunications sector.

This move supports MTN’s Ambition 2025 strategy to lead Africa’s digital transformation by leveraging its brand, infrastructure, and technology. Integrating LotusFlare’s Cloud platform enhances MTN’s agility, enabling faster adaptation to customer needs. It also aligns with MTN’s commitment to accelerating implementation through strategic partnerships for greater digital impact.

Hikmatu Bilali

The project could cut Cimaf’s clinker import expenses, push the company’s annual cement output to a million tons, and create around 2,000 direct and indirect jobs.

Cimaf Gabon is considering building a new clinker grinding unit in the Central African country. The facility could cost about $147.1 million to set up, according to the firm. The new clinker grinding facility should be built in Meba, within the Estuaire province.

Janah Idrissi El Mehdi, the Managing Director of Cimaf Gabon, disclosed the project's cost during a recent visit by the Minister of Industry, François Mbongo Rafemo Bourdette, to the company's headquarters. El Mehdi emphasized that the investment seeks to leverage the local industrial fabric, create employment opportunities, and stabilize cement prices.

Cimaf Gabon expects its cement output to reach a million tons per year with the new plant. The company currently produces 850,000 t of cement for a local demand estimated at 600,000 t per year.  "We currently import around 30 million euros worth of clinker. The idea behind this investment is to be able to enhance the local industrial fabric and at the same time enable job creation in the key, of the order of 1,500 jobs in the project phase, and then afterwards the equivalent of 500 jobs in the operating phase. And also in parallel a stabilization of cement prices", El Mehdi said. According to the executive, the plant was initially producing 500,000 t, but production was ramped up “to meet market demands and the government’s ambitions”.

According to the latest economic report from the Ministry of Economy, the cement production index declined by 14% in the third quarter of 2023 compared to the previous quarter. This downturn is attributed to reduced construction activity, primarily due to household investment postponements during the general election period, despite favorable weather conditions.

Cimaf is a subsidiary of Ciments de l’Atlas (Cimat), a Moroccan group active in the cement industry.

Sandrine Gaingne

The Mana gold mine produced 142,000 ounces in 2023. This year, the mine’s owner, Endeavour, seeks to ramp up its output to 170,000 ounces. The Burkina Faso government holds 10% of the mine.

Endeavour Mining temporarily halted underground operations at its Mana gold mine in Burkina Faso. The firm announced the news on February 28, a day after one of its subcontractors died due to injuries sustained during maintenance activities at the mine.

Endeavour Mining assured that it would investigate the accident in collaboration with local authorities.  "The health, safety, and well-being of our colleagues are our top priority, and this news deeply saddens us," the London-based firm wrote.

Mana is one of Endeavour's two remaining gold mines in Burkina Faso, following the sale of the Boungou and Wahgnion mines in 2023. Last year, the Mana mine produced 142,000 ounces of gold. Endeavour Mining expects the mine to produce between 150,000 and 170,000 ounces this year. However, any prolonged interruption of underground operations could impact these projections, although processing activities at the mine continue uninterrupted.

Spurred by the recent rise in uranium prices and long-term demand for the ore, mining firms are accelerating their projects worldwide. In January, the price of uranium passed $100, amidst concerns about supply in the medium term.

Aura Energy now expects $2.25 billion in revenues from its Tiris uranium mine in Mauritania. The company disclosed the figure in a FEED study released on February 28. It is 44% more than the amount forecast in the optimized feasibility study issued in March 2023.

The team at Aura have produced an Investor Update outlining the strong outcomes of the Tiris FEED study.
Stay tuned for an opportunity to hear from MD, Andrew Grove.https://t.co/78mZRv98ch #cleanenergy #uranium #development #Mauritania $AEE pic.twitter.com/aig59JB8px

— Aura Energy Limited (@aee_auraenergy) February 28, 2024

The FEED was based on a higher uranium benchmark price of $80 per pound, compared with $65 last March, against a backdrop of rising metal prices

The price of uranium passed $100 per pound in January 2024, a record not achieved since 2007. Observers attribute the surge to the growing interest in nuclear power globally. Global nuclear energy capacity could triple by 2050, according to recent forecasts.  Concerns over supply constraints also contributed to the increase. Among others, Kazatomprom, the world's top uranium producer, announced it would not meet its production targets for 2024 and 2025.

The increase should persist in the medium term, according to observers. Shaw and Partners, an Australian company, foresees uranium peaking at $150 per pound between 2025 and 2027. The outlook was enough motivation for producers like Aura Energy to pick up the pace on their various projects. Aura Energy, for instance, wants to close sales deals for future production and make investment decisions regarding its Tiris project this year.

Beyond price improvements, increased production forecasts have also contributed to heightened revenue expectations at Tiris. Initially projected to yield 1.6 million pounds of uranium annually over 16 years, Aura now anticipates an annual production of 1.9 million pounds over 17 years, resulting in a total output of 30.1 million pounds. Consequently, the initial capital requirement has risen by 29% to $230 million, with a reduced payback period of 2.5 years compared to the previously estimated 4.5 years. Furthermore, the net present value has increased from $226 million to $366 million, with an internal rate of return of 34%.

Iron and gold are Mauritania’s most exported ores. The country could, however, diversify its revenue sources with the emergence of uranium mining at Tiris. This could mitigate its exposure to fluctuations in gold and iron prices. Aura controls 85% of the Tiris project, with the remaining 15% held by Nouakchott.

Emiliano Tossou

In recent months, Gécamines has intensified negotiations with foreign investors operating copper and cobalt mines in the country. The aim is to seek greater control over valuable resources to boost sector revenue.

Democratic Republic of Congo's state-owned miner Gécamines is seeking more control over copper and cobalt mines by demanding additional board seats in its joint ventures with foreign investors. Board chairman President Guy Robert Lukama announced the initiative as part of efforts to bolster Gécamines' influence in the management of the DRC's copper and cobalt mines.

In comments reported this week by Reuters, Lukama explained that the presence of local executives on boards of directors could enhance transparency, oversight of community development projects, and adherence to regulations on local content and the training of Congolese personnel. To achieve this objective, Gécamines is contemplating the revision of its contracts with foreign investors.

Once a leading copper producer in the 1980s, Gécamines has experienced a decline in performance amid low prices and inadequate investment. To revitalize copper and cobalt production, the DRC has relied on foreign investors, predominantly Chinese, who have secured operating rights for several mines in exchange.

Lukama questioned, "We want to rectify a certain stage of mistakes that were made when they asked us to give most of our best assets to third parties just to attract foreign direct investment [...]. The off-take was there to secure the flows of repayment of debt, now the debt is repaid, why should they keep it 100%."

DRC is the world's leading cobalt producer, accounting for over 80% of the supply in 2023, according to the Cobalt Institute. Additionally, as the third-largest copper producer in the world, the country's bargaining power has strengthened in recent years due to the escalating demand for these two metals crucial to the energy transition.

For instance, last year Gécamines successfully secured a payment of $800 million from China's CMOC after several months of dispute over mining royalties. Furthermore, Gécamines negotiated the right to acquire a portion of the Tenke mine's copper and cobalt production, up to its 20% stake in the project, as well as $1.2 billion in dividends over the mine's remaining life.