The Cameroonian government has announced its intention to acquire 58.08% stake in the local subsidiary of Société Générale. The country offered $191.6 million, according to letter from the Ministry of Finance. The government’s decision is based on legal provisions in Société Générale Cameroon’s statutes and follows a letter from the French banking group outlining its plans...

Resolute Mining produced 2% more gold in 2024 than in 2023. However, the output was below the firm’s target for the past year, and it is expected to record a decline in production this year. Resolute Mining, the Australian firm operating the Syama and Mako gold mines in West Africa, reported a total gold production of 340,000 ounces for 2024, falling short of its forecast range of 345,000 to...

Burkina Faso produced about 67 tonnes of gold in 2021. Since then, production has steadily declined due to security challenges. Despite new projects, the future of the gold sector remains uncertain. In 2024, Burkina Faso experienced its third consecutive drop in industrial gold production. While final figures for last year are not yet available, data shows that production reached 47.7 tonnes by...

The future looks brighter for uranium as interest in nuclear power grows. In Niger, the Canadian company Global Atomic aims to take advantage of this trend and speed up the Dasa project. Global Atomic plans to raise C$36 million ($25 million) to support its Dasa uranium project in Niger. According to a note from January 23, the funds will come from a private placement selling up to 45 million...

Perseus Mining, an Australian company, runs the Yaouré and Sissingué gold mines in Côte d'Ivoire, producing over 300,000 ounces annually. Last year, the firm’s revenues soared thanks to a roughly 30% increase in global prices of gold. Revenues from the Yaouré and Sissingué gold mines in Côte d'Ivoire hit $677 million in 2024, up 8% from 2023. The mines’ Australian owner, Perseus...

The Central Bank of Ghana has been buying gold to boost its foreign exchange reserves for several years. This initiative has significantly raised the country's gold holdings, making Ghana Africa's top gold producer.  By the end of December 2024, the Bank of Ghana (BoG) reported that its gold reserves had grown to 30.5 tonnes, up from 19.5 tonnes the previous year. This increase was shared...

Kibali, Africa's largest gold mine, is jointly operated by Barrick, AngloGold Ashanti, and the Congolese state-owned company Sokimo. After producing 762,000 ounces in 2023, the mine recorded an 8% drop in production during the first nine months of 2024. Barrick Gold expects “solid results” from the Kibali gold mine this year, without clarifying if this means increased production or improved...

The International Energy Agency (IEA) predicts electric vehicle (EV) sales will hit 40 million units by 2030. This surge could benefit Africa, which possesses about 30% of the minerals needed to produce these vehicles. Global sales of electric and hybrid vehicles are expected to surpass 20 million units in 2025, up at least 17% compared to 2024. Reuters reported the forecast issued on January 28...

Approved five years after the startup law was passed, the implementation decree lays out a clear regulatory framework for these innovative businesses. It introduces a set of incentives designed to fuel their growth and fast-track their expansion. Senegal’s Council of Ministers, led by President Bassirou Diomaye Faye, approved on January 29 a decree implementing the startup law enacted on...

The Central African Economic and Monetary Community (CEMAC) is now turning to the private sector to develop regional projects. The regional body has adopted a new public procurement strategy and a directive on public-private partnerships (PPP). This decision was announced during a workshop on PPPs held on January 28–29, in Douala, Cameroon. “Without these regulations, implementing PPPs in...