Last year, Old Mutual achieved its strongest profit since 2019, but continues to struggle outside of South Africa. However, its alternative investment division, which has a strong presence in Côte d'Ivoire, remains resilient and solid. In 2024, Old Mutual reported its best profit in five years, with an adjusted result of 6.69 billion rands (about $370 million), up 14%. This strong...

Food inflation in Nigeria dropped significantly to 23.51% in February 2025, down from 37.92% in the same month of 2024. This was revealed in the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS), released on March 17. The reduction in food inflation can be partly explained by a slight decrease in prices of key food items, including yams, potatoes, soybeans,...

After building his mega refinery, Dangote is now looking to develop a seaport in Ogun State. The port could help streamline the supply chain for some of his cement plants and the nearby refinery. Nigerian billionaire Aliko Dangote is considering building the country’s largest seaport in the Olokola Free Trade Zone, located in Ogun State. According to local media reports, he made this...

Australian mining company Genmin has been developing the Baniaka iron ore deposit in Gabon, which has the potential to produce 10 million tonnes of iron ore annually. The company initially planned to start production in 2025 but it was finally postponed to 2026 due to ongoing efforts to secure financing for construction. On March 17, 2025, Genmin appointed Andrew Taplin as its new Managing...

After exporting 16,000 tonnes in 2021, the Democratic Republic of Congo (DRC) saw its zinc exports slump in the following two years. However, the tides turned last year. Drastically so. Zinc exports from the Democratic Republic of Congo (DRC) exploded in 2024. After declining the previous two years, the exports stood at 43,590 tonnes last year, soaring 225% year-on-year. The Ministry of Mines...

Minerals contribute 70% of Rwanda's exports and 3% of its GDP. However, critics accuse Rwanda of benefiting from rebel-led plundering of mineral resources in the eastern Democratic Republic of Congo (DRC). On March 17, 2025, the European Union unveiled new sanctions against some Rwandan officials. The EU accused the officials of being involved in the ongoing war in the Democratic Republic of...

In early March 2025, an IMF team from Washington visited Kinshasa. No official statement was released at the end of the trip, so Bankable reached out to the IMF’s resident representative in the Democratic Republic of Congo (DRC) to understand what was discussed. René Tapsoba has been in this role since October 2024, after spending six years in Mali in the same position. With experience at the...

People in Central Africa could soon enjoy free roaming, allowing them to communicate freely between countries in the sub-region without any extra charges. A three-month deadline has been set for stakeholders to finalize the implementation of the community roaming project. This decision came out of a meeting of telecom ministers from the Economic and Monetary Community of Central African States...

Lotus Resources should resume operations at its Kayelekera uranium mine in Malawi by the third quarter of 2025, amid a rising global demand. Nuclear power plants are already securing future production as the market for long-term uranium contracts strengthens. Lotus Resources announced on March 17 that it signed a binding agreement with a North American utility to supply 600,000 pounds of uranium...

In response to the M23 and Rwandan troops taking control of Goma, Brussels called on the European Union to consider sanctions against Kigali in late January. Rwanda cut its diplomatic relations with Belgium. The country issued a statement on Monday, March 17, to mark the immediate and official split. The decision is a response to the “pathetic attempts to maintain neocolonial illusions” and...