As highlighted by the World Bank, Benin is grappling with major socio-economic challenges despite progress in reducing poverty and improving human development. In 2021, its Human Development Index ranked it 30th in Africa. The government of Benin has approved a new social protection strategy for 2024–2028. The plan, announced during a Cabinet meeting on November 20, is backed by a budget of...

Senegal, like many African countries, is fully embracing the tech revolution. The nation is ramping up investments in the digital sector and forging strategic partnerships, but it faces challenges in a key area. Senegal has been ranked in Tier 3 scoring 67.17 out of 100 on the International Telecommunication Union's (ITU) 2024 Global Cybersecurity Index. This places the country far behind...

Since 2016, when Patrice Talon became president, Benin has embraced digital transformation. He made digital technology a key part of his development plan, aiming to use it to drive economic growth and modernize the country. Benin's Ministry of Digital Affairs and Digitalization (MND) plans to allocate CFA16.4 billion (about $26.4 million) to digital projects in 2025. This represents 56.8%...

The Ivorian government plans to allocate CFA4,121 billion ($6.63 billion), or 26% of total spending, to servicing and repaying its debt in the 2025 budget. Finance Minister Adama Coulibaly made this announcement yesterday during his presentation of the draft Finance Law to the Economic and Financial Affairs Committee of the National Assembly. As of June 30, 2024, Côte d’Ivoire's public debt...

Africa is undergoing rapid digitalization but is faced with critical digital skills gap. Leveraging partnerships with global tech leaders and targeting a large, young workforce has the potential to drive significant economic and social progress across the continent. Vodacom Group has partnered with leading technology providers, including AWS, Microsoft, and Skillsoft, to equip 1 million young...

Rawbank, the DRC's leading bank, announces a historic $2 million investment in two Improved Cookstoves projects in partnership with Vitol, aimed at reducing 6 million tonnes of CO2 over ten years. As COP29 opens in Baku, with strengthened commitments from multilateral development banks to mobilize $120 billion a year in climate finance by 2030, this project marks a turning point for...

According to 2023 data from the Côte d'Ivoire Investment Promotion Center, China represents 5% of foreign direct investment in the country. While primarily involved in infrastructure and agriculture, China has recently increased its presence in the Ivorian mining sector. From November 16 to 17, 2024, Aurum Resources participated in the First International Mining Symposium held in Chengdu,...

The report emphasizes that rising debt service costs are shrinking the budget space needed for essential investments in sustainable development goals. These include quality education, healthcare access, and efforts to combat climate change. In 2024, the cost of servicing Africa’s external debt is set to reach a record $89.4 billion, according to a report released on November 14 by the...

This year, Gold Fields sold its stake in the Asanko gold mine in Ghana and acquired a major gold project in Canada. The South African company now focuses on increasing its gold production outside Africa.  Gold Fields could sell some of its African mines, including the Damang mine in Ghana which is already up for sale. The firm revealed the possibility on November 14, 2024. Gold Fields...

During the second quarter of 2023, Mali imported $5.2 million of explosives and pyrotechnics. With a growing need for these materials in its mining sector, the country seeks to enhance its role in the production process. Mali could soon have its first civil explosives plant. The African country has partnered with the Chinese Norinco Group, through its subsidiary Auxin Chemical Technology...