Government launches FNEE to finance electricity production and distribution Fund may support stalled projects under national development plan Gabon plans $1.93 billion investment in energy projects from 2024 to 2026 Gabon has established the National Fund for Energy and Water (FNEE) to support electricity production and distribution projects. The move, approved during a...

Two 100 MW solar plants with 33 MWh storage each planned in northern regions Projects support 2030 target of 45% renewables in national energy mix Bidders have until July 25 to apply for 25-year private power producer contracts Côte d’Ivoire has launched two international tenders for the construction of solar photovoltaic plants, each with 100 MW capacity and 33 MWh of storage....

Countries agree to deepen cooperation in mining, energy, and infrastructure New technical committee to accelerate joint development initiatives Trade between the two nations totaled $164.25 million in 2023 Senegal and Guinea have agreed to boost their bilateral cooperation across several sectors, including mining, energy, infrastructure, fishing, and culture. The announcement...

This strategic investment by AXIAN Telecom signals growing investor confidence in Africa’s digital economy and Jumia’s long-term potential as a regional technology leader. AXIAN Telecom has announced the acquisition of an 8.0% minority stake in Jumia Technologies AG (NYSE: JMIA), a pan-African e-commerce platform. The development, announced May 30, was disclosed through a Schedule 13D filing...

Uruguay-based dLocal announces plan to acquire African fintech AZA Finance Deal aims to boost cross-border payments and currency exchange services in Africa Africa's payment market could hit $1 trillion by 2035, despite high transfer costs dLocal, a global fintech company specializing in cross-border payment solutions, announced on June 2 that it plans to acquire AZA Finance,...

EACOP reaches 60% completion despite earlier financing challenges Around 6,000 jobs created, with 70% benefiting local communities Project expected to improve road infrastructure and digital access The East African Crude Oil Pipeline (EACOP) has reached 60% completion, according to Tanzanian media reports on June 3. The $10 billion project, which spans 1,443 kilometers,...

GoldBod exported over 41.5 tons of artisanal gold between February and May 2025 Revenue reached about $4 billion, surpassing industrial gold exports for the first time Ghana aims to earn $6 billion from ASM gold in 2025 and $12 billion in 2026 GoldBod, the state-run body overseeing gold trade in Ghana, exported more than 41.5 tons of gold from artisanal and...

Over 200,000 young people assigned to 20,000 schools in fifth phase of job initiative Program aims to boost education and tackle youth unemployment Youth contracts offer $225 monthly stipend and support key learning areas South Africa has launched phase 5 of the Basic Education Employment Initiative, deploying more than 200,000 young people to around 20,000 schools across the...

Ethio Telecom teams up with Bankai Group to improve international call quality The operator targets 163.7 billion birrs ($3.73 billion) in revenue for 2024/2025 Foreign exchange earnings goal set at $282.85 million, with $72.6 million already earned Ethio Telecom has partnered with telecom solutions provider Bankai Group to enhance the quality of international voice...

Since its launch in 2022, the Pan-African Payment and Settlement System (PAPSS), designed to simplify cross-border transactions between African countries, has been gradually expanding. It is already showing strong results, especially in several English-speaking countries in West Africa. In a 2023 interview with Ecofin Agency, its CEO, Mike Ogbalu III, outlined the platform’s ambitions and the...