While Fitch has stopped monitoring Dangote Industries, other agencies like Moody’s and S&P Global Ratings are expected to continue assessing the company. Fitch Ratings announced on Feb. 11 it will no longer assess Dangote Industries. After keeping the Nigerian conglomerate under negative watch due to refinancing struggles, the credit rating agency has decided to withdraw all its evaluations....

In 2024, the Financial Action Task Force (FATF) put Côte d'Ivoire on its watchlist, citing gaps in its efforts to combat money laundering and terrorist financing. Côte d'Ivoire has created a new body called the Financial Surveillance Group (GSF) to step up its fight against money laundering, terrorist financing, and the spread of weapons of mass destruction. The announcement came after a...

This decision comes after Benin’s ambassador, Gildas Agonkan, publicly apologized to the Nigerien people during a ceremony. Benin has reportedly recalled its ambassador to Niger, Gildas Agonkan (pictured), for consultations with Foreign Minister Olushegun Bakari. The meeting was expected to take place on February 13, according to local media reports. Sources indicate that this decision...

Many African leaders argue that the three major international rating agencies have a "negative bias" when evaluating the credit risk of African nations, denying them access to essential financial resources. The African Union (AU) plans to launch a new African credit rating agency in H2 2025 to address concerns about what some African countries see as “arbitrary” ratings from major...

Seychelles, Cape Verde, Botswana, Rwanda, and Mauritius are the least corrupt countries in Africa, according to the 2024 Corruption Perceptions Index (CPI) published by Transparency International. The CPI ranks 180 countries and territories based on how corrupt their public sectors are perceived to be, using a scale from 0 (highly corrupt) to 100 (very clean). The rankings are based on data from...

The civil war that broke out in neighboring Sudan in April 2023 crippled one of the main pipelines transporting most of South Sudan’s oil, depriving the country of crucial government revenue. Expected to be back in operation by late March or early April, the pipeline’s reopening could finally give Juba a path toward recovery. South Sudan’s economy is expected to grow by 17% in 2025 after...

As mobile connectivity becomes vital for economic growth, poor service quality hampers productivity, disrupts transactions, and limits online access. This affects businesses, financial inclusion, and progress in the digital economy. Initiatives like the NCC’s Crowdsourcing Quality of Experience Project are key to ensuring reliable connectivity and smooth digital operations nationwide. The...

With a generous distribution policy and consistently positive profitability, SGCI maintains its leadership position in Côte d'Ivoire. However, the rise in risk costs, margin pressure, and increased competition are setting a new pace for its growth. Société Générale Côte d'Ivoire (SGCI) reported a record net profit of CFA101.2 billion (about $159 million) in 2024. The bank has...

The African Continental Free Trade Area (AfCFTA), launched in 2018, covers a market of 1.3 billion people with a combined GDP of $3.4 trillion. It could boost intra-African trade by 53%, lift 50 million people out of poverty, and create 14 million jobs. According to UNCTAD, it is a key tool for transforming the continent’s economy. Africa has what it takes to become a major player in...

Agriculture is the foundation of Africa’s economy, yet smallholder farmers - the majority of the continent’s farming population - struggle with limited access to real-time agricultural information. This gap negatively impacts productivity, food security, and livelihoods. Harnessing digital tools offers a viable solution to bridge this challenge. Safaricom PLC, in partnership with global NGO...