In recent years, central banks in several African nations, including Nigeria and Ghana, have started gold-purchasing programs. These programs boost foreign exchange reserves and aim to address a problem that has cost governments $435 billion in 2022. In a November 18 report, the World Gold Council (WGC) urges the G7, G20, and World Bank to support these central banks’ gold-purchase...

In 2024, Benin’s public debt will rely more heavily on external borrowing, making up 72.1% of the total debt portfolio. Meanwhile, domestic debt will account for 27.9%, according to the Directorate General of Budget. Benin’s public debt is projected to slightly decrease, reaching 53.7% of GDP in 2024, down from 54.5% in 2023. This information is detailed in a report by the Directorate...

Côte d’Ivoire’s meat and edible offal market is one of the biggest in West Africa. With less than 50% of demand currently met, the need for these products is expected to grow even more in the coming years. Côte d’Ivoire’s appetite for meat and related products will keep creating significant economic opportunities in the coming years. According to the U.S. Department of Agriculture...

Africa faces significant disparities in internet access, particularly in rural and underserved areas where connectivity remains limited. Bridging this gap is crucial, as improved internet access drives economic development.  Telecom Namibia announced on November 15 that it has achieved a significant milestone in modernizing the nation’s communication infrastructure with the completion of...

Authorities in charge of digital technology and telecommunications from the countries of the Sahel States Alliance (AES) gathered to create a common roadmap for digital and telecom projects. This meeting took place on Thursday, November 14, in Ouagadougou, during the 19th edition of Burkina Faso’s Digital Week. The goal is to establish digital cooperation between Burkina Faso, Mali, and Niger....

The report highlights that debt financing has become a strong alternative for startups across the continent, as venture capital players proceed cautiously amid a landscape filled with economic and geopolitical uncertainties. African startups in fintech, artificial intelligence (AI), and climate technology have attracted the lion’s share of venture capital on the continent. According to a...

To further enhance global efforts to combat cyber offenses, Kaspersky and AFRIPOL have signed a cooperation agreement in preventing and fighting cybercrime. Covering a period of five years, the document formalizes and facilitates cooperation between the company and the law enforcement agency in sharing threat intelligence data on the latest cybercriminal activities. The landscape of cyberthreats...

Having a national airline is seen as a symbol of sovereignty, but the idea of every African country running its own raises serious doubts about whether it can work. Since the Sahel Alliance (AES) was created in September 2023, Mali, Burkina Faso, and Niger have focused on improving air travel between their countries. Initially, they planned to launch one airline to serve all three nations....

During the first Russia-Africa Summit held in 2019, the president promised to increase trade with the continent to "$40 billion over five years." However, the figures for 2023 and the first eight months of the current year show that Moscow is still far from reaching that goal. Trade between Russia and Africa reached $24.5 billion in 2023, a 37% increase compared to 2022, according to Dmitry...

As Nigeria's largest mobile network operator, MTN plays a crucial role in connecting subscribers to voice, data, and fintech services. Its operations extend beyond telecommunications, making it a key driver of the country’s digital transformation. MTN Nigeria announced on Friday, November 15, that it has successfully raised ₦75.18 billion ($45 million) through its commercial paper issuance...