Despite industry challenges, Lucara Diamond generated $172 million in revenue during 2023 through the sale of 379,287 carats, benefiting from the superior quality of its diamonds. Last year, Lucara Diamond earned $203.9 million from its Botswanese output. This is against $172.4 million in 2023, an 18% difference. Lucara’s performance contrasts with a steep decline in diamond...

In line with its ambition to boost the country’s annual copper output to 3 million tons by 2032, Zambia’s government bets on several projects, including one to expand the Lumwana mine. Barrick, the mine’s Canadian operator, recently said the expansion works should begin this year. On February 19, Barrick released a technical report detailing plans to expand the Lumwana copper mine. The...

Ivorian telecom operators are expected to provide nationwide coverage, yet some areas are still left out. The government is stepping up pressure to bridge the gap as it pushes forward with its digital transformation plans. Telecom operators Orange, MTN, and Moov Africa have committed to deploying around 240 small-scale radio sites across Côte d’Ivoire to improve nationwide network coverage....

Senegal is facing liquidity challenges, with its debt reaching 107% of GDP. The government has pledged reforms to ensure greater transparency, and talks are underway about restructuring local bank debt. At the IMF, officials have expressed support for the country, with ongoing efforts to find solutions to stabilize the situation. Senegal’s international bonds are holding steady on the market,...

Senegal's President Diomaye Faye believes that a complete overhaul of the country’s financial and accounting institutions is crucial to bring about a real shift in economic and financial governance. Senegal's President Bassirou Diomaye Faye has called for a new regulation on the conditions and methods of issuing government bonds, along with a more efficient organizational framework to manage...

In 2024, the euro steadily weakened against the dollar, dropping from 1.12 USD/EUR in September to about 1.02 USD/EUR by January 2025, directly causing the CFA franc to lose ground against the dollar. The CFA franc went through a turbulent year in 2024, with significant ups and downs in the foreign exchange market. The common currency used by eight West African nations lost 4.06% of its value...

Camtel, Cameroon’s national telecom company, is taking steps to improve its services. Yesterday, the company’s CEO, Judith Yah Sunday, concluded a training session for 75 new recruits in the fields of information technology and satellite solutions. According to Yah Sunday, this initiative is in response to the growing issue of network quality deterioration, caused by insufficient preventive...

The growth of Africa’s BNPL market is largely driven by its seamless integration into e-commerce platforms as an appealing alternative to traditional payment methods, along with its expanding use in sectors like healthcare and education financing. The Buy Now, Pay Later (BNPL) market in Africa is expected to grow at an average annual rate of 14.8% between 2025 and 2030, reaching a total value...

In recent years, Côte d'Ivoire has stepped up efforts to reshape its economy and society, working to lift people out of poverty and reduce inequality. Those efforts have made a real difference, bringing the poverty rate down from 55% in 2011 to 37.5% in 2021. Côte d'Ivoire aims to raise its average income per capita to $4,000 within the next five years. This goal is part of the upcoming...

At least 48 people–including several women and a child–died last Saturday in Western Mali. They were killed in a gold mine collapse, according to local sources which stressed that the search for additional victims is ongoing. The mine, an illegal operation, experienced a collapse in open shafts that had been abandoned by industrial companies. Victims were buried when the earth caved in, and...