The National Communications Authority of Ghana (NCA) has approved SpaceX Starlink GH LTD, the local subsidiary of the American company, to provide high-speed satellite internet services in the country. In a statement released on April 25, the regulator announced that administrative procedures for the issuance of the operating license are underway and expected to be completed soon. “The...

MVola, 1st first FinTech in Madagascar and part of the responsible pan-African AXIAN group, is expanding its accessibility to all Malagasy with the launch of MVola Fô! This new offering allows every citizen to open an account through the Super App MVola, regardless of their phone number. To do this, simply download the Super App MVola from an Android or iOS smartphone. From there, MVola...

The President of the African Development Bank Group Dr. Akinwumi Adesina has appointed career diplomat Ambassador Jalel Trabelsi as his Special Envoy for the Middle East and North Africa (MENA) and Gulf Region. Ambassador Trabelsi brings to the role over 30 years of experience as a highly accomplished and distinguished diplomat. As Special Envoy for MENA and the Gulf Region, Ambassador Trabelsi...

Servair Abidjan, a company that provides catering and cleaning services for aircraft and the Abidjan International Airport, has proposed a net dividend per share of CFA206.20 for FY2023. This represents a net yield of 15.5% based on the stock's closing price in December 2023, making it the highest dividend payout on the Abidjan-based regional stock exchange (BRVM). Previously, Onatel, a...

Military expenditures on the continent have surged, with North Africa outpacing Sub-Saharan Africa, driven by the ongoing arms race between Algeria and Morocco. Stockholm International Peace Research Institute (SIPRI) issued a report on April 22 revealing that the cumulative military spending by African countries reached $51.6 billion in 2023, up 22% from 2022. Titled "Trends in World...

The price of gold has been steadily rising, surpassing $2,400 per ounce in April 2024. However, not all gold producers are reaping the benefits equally, as seen in the performance of Mali's Yanfolila gold mine. Hummingbird Resources, the British owner, reported a 38% year-on-year production decrease to 16,999 ounces in the first quarter of 2024. Revenues also fell by 25% to $37 million...

Nigeria's mining sector contributes less than 1% to the country’s GDP, a paradox considering the country's mineral resources are valued at $700 billion. Speculation around mining permits is one reason for this, which the government aims to address.  Minister of Mines, Dele Alake, announced the revocation of 924 dormant mining licenses. These licenses will be redistributed to new...

Egypt's financial difficulties have eased in recent months, following the acquisition of $57 billion in funding from international financial institutions and regional allies. Egypt's external debt stock reached $168.03 billion as of December 2023, up from $164.52 billion at the end of September 2023, according to data released by the central bank on April 22. According to the...

The call termination rate refers to the amount a telecom operator charges another operator to end a call or SMS on its network. In Ethiopia, it has been set at 0.31 birr per minute for fixed and mobile calls since 2022. The Ethiopian Communications Authority (ECA) has established new termination rates for mobile and fixed calls, as well as SMS. The decision aims to enhance competition in the...

Société africaine des plantations d'hévéas de Côte d'Ivoire (SAPH-CI), the Ivorian branch of the partnership between the Billon family and French company Michelin, saw a significant rise in debt in 2023. Their net debt climbed to CFA45 billion ($73.5 million), a 34% increase from the previous year's CFA34 billion. SAPH-CI, mostly owned by Société internationale des plantations d'hévéas,...