In 2023, Ghana solidified its position as Africa's leading gold exporter with $7.6 billion in gold shipments. The momentum carried into 2024, where a notable 30% increase in gold prices contributed to rising export revenues, bolstering the nation's economic landscape. Ghana earned $11.6 billion from gold exports last year, up 52.6% compared to 2023. The Bank of Ghana disclosed the...

This move comes as part of stricter capital requirements aimed at supporting economic growth and strengthening the resilience of Nigeria's financial system. Zenith Bank announced on January 26 it raised 350.4 billion Naira (226 million dollars) through a rights issue and public offer launched a few months ago. The dual fundraising initiative, which was oversubscribed by more than 160%, has...

In December 2024, the United Nations and its humanitarian partners called for $7.6 billion in funding for 2025 to support 35 million people affected by crises in West and Central Africa. President Donald Trump’s decision to suspend U.S. foreign aid globally, except for Israel and Egypt, has raised alarms about its potential impact on African countries heavily reliant on humanitarian...

The global 15% minimum tax on multinational corporations took effect on January 1, 2024, in over 30 developed countries, including tax havens like Luxembourg and Switzerland. While the United States signed the agreement, it was never ratified during Joe Biden’s presidency. The decision by newly-elected U.S. President Donald Trump to pull the country out of a global agreement that would...

Ghana’s Finance Minister, Cassiel Ato Baah Forson (pictured), has declared ‘a war” against wasteful government spending. Speaking recently to his staff members during his inaugural address, he stressed the importance of bold economic reforms and disciplined financial management to reposition the Ghanaian economy and ensure inclusive growth. In a statement released on January 26, the...

Africa’s digital transformation is unfolding alongside a troubling rise in cyber threats. While strides have been made, the continent remains exposed to attacks, underscoring the pressing need to strengthen cybersecurity capabilities and turn these challenges into opportunities for growth. Africa is one of the least prepared regions in the world to deal with major cyberattacks. The recent...

The Global Risks Perception Survey (GRPS), conducted by the World Economic Forum, aims to identify the risks facing the planet in the short, medium, and long term. The 2025 report reveals that environmental risks, once seen as distant threats, are now pressing concerns that are increasingly intertwined with other global issues, such as forced migration. Climate change continues to be one of...

Enko Education, an African network of primary and secondary schools, has raised $24 million to boost its growth. The funds, announced on January 22, come from two key investors: Africa Capitalworks and Adiwale Partners. This marks Africa Capitalworks' first investment in Enko Education, while Adiwale Partners continues its support, having previously invested $5.8 million in 2022. The...

The government aims to cut back on cash use and promote digital payments to improve tax collection. However, in a country where cultural habits, limited infrastructure, and high electronic transaction costs slow adoption, success is far from certain. Since January 1, 2025, cash transactions exceeding CFA100,000 (about $159) in Benin are subject to a 1% tax. This policy has stirred...

Many African telecoms operate in cost-sensitive markets where affordability is key. By outsourcing network operations, telecom providers can focus on strategic priorities like digital transformation, expanding services, and improving customer engagement rather than managing complex network operations. e& Egypt and Ericsson have extended their managed services and customer support agreement for...