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...

This raise marks a major milestone not only for the company but for the broader ecosystem supporting Africa’s transition into a cloud-first, interconnected, and digitally sovereign economy. Wingu Africa, East Africa’s carrier-neutral data centre operator, has raised $60 million in funding from Rand Merchant Bank (RMB) to fuel its rapid expansion across the region and strengthen...

• Angola has begun constructing a €100 million drug plant to produce injectables and tablets.• The facility, led by Thera, will produce up to 35 million injectables and two billion tablets a year by 2027.• The project aims to ease import reliance and support Africa’s pharmaceutical self-sufficiency. Angola has officially launched construction of a medication manufacturing facility...

• Canadian junior miner Koulou Gold secured $13 million to fund 2025 gold drilling in Côte d’Ivoire.• Funds will support drilling at Assuéfry, Sakassou, and Kouto, plus new permit acquisitions.• No resource estimates or detailed exploration timeline have been disclosed. Koulou Gold, a Canadian junior mining company, announced on Monday, June 2, that it has raised $13 million...

• Tunisia’s 2025 industrial tomato output is projected to fall 15% to 850,000 tons.• Downy mildew could cut Nabeul region yields by 40% due to crop damage.• Tomatoes are Tunisia’s fifth-largest agricultural export, earning $83.4 million in 2024. Tunisia, Africa’s second-largest producer of industrial tomatoes after Algeria, is facing a serious disease threat that could reduce...

• Jingdong Steel will invest $500 million to build a steel plant in Algeria’s M’sila province.• The plant will use 80% local raw materials and generate over 3,000 jobs.• Half of its output will serve the Algerian market, the rest will be exported. The Chinese group Jingdong Steel plans to invest $500 million in a new steel plant in Algeria, according to a June 2 statement...

• South Africa launches initiative to create SASCO, its first national shipping firm since 1999.• A steering committee will explore models including ship acquisition or buying local operators.• The project aims to reduce reliance on foreign carriers and boost maritime sovereignty. Since the dissolution of Safmarine in 1999, South Africa has relied entirely on foreign carriers to transport...

• MAAUN aims to sign deals with 50 universities in 21 countries to boost academic strength.• The partnerships will support research, student mobility, and higher education quality.• Execution and funding will be critical to the long-term impact of the initiative. With Sub-Saharan Africa projected to have over 800 million youth by 2050, according to UN data, improving higher education...

• Nigeria plans to double milk output to 1.4 million tons annually within five years.• The strategy includes a national livestock council and a six-pillar growth program.• Public-private partnerships with firms like Arla and Promasidor drive sector momentum. Nigeria, the largest milk and dairy market in West Africa, is advancing a strategy to boost local production and reduce import...

• Qatar and Rwanda discussed stronger ties amid Doha’s economic expansion in Africa.• Qatar Airways holds 60% of RwandAir and is a key funder of Bugesera airport.• Talks also addressed Rwanda–DRC tensions and regional cooperation efforts. The Prime Minister and Foreign Minister of Qatar, Mohammed bin Abdulrahman bin Jassim Al Thani, and the Rwandan Minister of Foreign Affairs, Olivier...