• Managem opens Senegal's third gold mine amid record prices• Boto mine to produce 5 tons/year, boosting national output• New projects signal gold boom; regulatory clarity remains key Moroccan company Managem has commissioned its first gold mine in Senegal. The announcement of its successful launch on Tuesday coincided with a new peak of over $3,500 an ounce for the yellow metal on...

• Afreximbank launches $1B trade firm to boost intra-African commerce• Intra-African trade rose 12.4% to $220.3B in 2024• IATF 2025 aims for $44B in deals, hosted in Algeria Afreximbank has launched the African Trade and Distribution Company with $1 billion in capital, an initiative designed to boost intra-African trade, support exports, and encourage local processing...

• Ghana eyes Saudi chocolate market with new trade partnerships• Saudi cocoa imports hit $702M in 2024, mostly chocolate• Ghana seeks to boost local processing, now just 0.5% of supply Ghana is stepping up efforts to expand its presence in Saudi Arabia's cocoa and chocolate market. As part of this push, Ghana Cocoa Marketing Company's UK subsidiary (GCMC UK) recently hosted Ali...

• World Bank cuts Gabon growth forecast to 2.4% for 2025–2027• Oil output, prices to drop; budget deficit may hit 5% of GDP• Diversification, reforms urged amid infrastructure and demand challenges The World Bank expects a slowdown in Gabon's economic growth over the 2025-2027 period. In its latest economic report, it forecasts an average annual growth rate of 2.4%, a decrease from the...

• DRC launches Copirap to streamline over 1,000 parafiscal levies• Reform aims to ease business climate, boost investment, competitiveness• Commission to freeze new levies, ensure funds serve priority services In the Democratic Republic of Congo (DRC), more than 240 public bodies collect parafiscal taxes through over 1,000 different levies, a practice that burdens companies, weighs down...

• CBK licenses 27 more digital lenders, total now 153• Sector disbursed $594M in loans by June 2025• New draft rules propose tiered licensing, higher compliance fees The Central Bank of Kenya (CBK) announced on Friday that it has granted 27 new licenses to digital credit providers (DCPs), bringing the total number of approved operators in the country to 153. The announcement comes...

UBA extends rights issue to September 19, seeks NGN157 billion Offer includes 3.16B shares at NGN50 each, 1-for-13 ratio Move supports recapitalization; profits up over 30% in Q1 2025 United Bank for Africa (UBA) announced on Sunday that it is extending its rights issue, which was initially set to close on Friday. In a statement to the Nigerian Exchange (NGX) signed by Group...

Blencowe hires WaterBorne to fund $62M Uganda graphite project Orom-Cross aims for 2026 start, 50,000 tonnes/year in Phase 2 AFC, DFC, and others show interest in project financing In a note released on Thursday, Blencowe Resources announced it had hired South African advisory firm WaterBorne Capital to help finance its Orom-Cross graphite project in Uganda. The firm will be...

Nigeria targets ICT sector to reach 21% of GDP by 2027 Government launches fiber, skills, and regulatory initiatives to boost ICT Startups raised over $5 billion since 2019, data shows Nigeria expects its information and communications technology (ICT) sector will account for 21% of its gross domestic product (GDP) by 2027, according to Communications, Innovation and Digital...

Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persistent technological failures in the traditional banking sector. Outdated banking IT infrastructure – often based on legacy systems – has led to frequent outages, slow processing, and inadequate scalability during peak demand or crises. These shortcomings eroded user trust, creating a fertile...