Ecobank is working hard to overcome the challenges its Nigerian branch is facing. On September 16, 2024, the bank shared some encouraging news with investors: it reached an agreement with creditors about its $300 million Eurobond, which is due for repayment in April 2026. One key requirement of this loan was that the bank had to maintain its long-term resources at least 10% of all loans...

Shareholders of BOA Côte d'Ivoire have approved a capital increase to CFA40 billion by incorporating reserves and issue premiums. This move aims to strengthen the bank's financial structure and support its growth. On October 10, BOA Côte d'Ivoire’s shareholders gave the green light to a major capital boost during an extraordinary general meeting. The bank, a part of the pan-African BOA...

ECOWAS countries had delayed the launch of their single currency to 2027, but with Nigeria, the region's biggest economy, starting to overcome its challenges, it is more important than ever for member states to come together and build stronger unity. Ivorian President Alassane Ouattara called on ECOWAS member countries to step up their efforts toward the introduction of the ECO, the region’s...

The bilateral relationship between these two countries is still new but gained momentum after Rwanda opened its embassy in Conakry in January 2024. Rwanda and Guinea signed 12 agreements on October 9 in Kigali during a session of the Joint Cooperation Commission. According to announcements from both countries' foreign ministries, the deals cover several areas, including public administration...

The World Trade Organization (WTO) released its updated global trade outlook on October 10, with mixed news for Africa. While the continent's overall export growth forecast was lowered, there was a positive shift in intra-African trade. The share of intra-African trade in Africa's overall trade rose from 11% to 12% in H1 2024, as reported by Nee Coleman, the WTO’s economic affairs...

The DR Congo government has released its draft Finance Act for 2025, proposing a budget increase of 21%, totaling 49,847 billion Congolese francs (over $18 billion). The mining sector is expected to play a vital role in this growth. The DRC government expects a 5.7% economic growth in 2024, mainly driven by a 5.3% increase in the mining sector. This forecast comes from the draft Finance Law...

Mali has granted a 10-year mining permit for the Sadiola gold mine, which was set to expire on August 1, 2024. The mine produced 171,007 ounces of gold in 2023 and is expected to average 200,000 ounces annually until 2028, with potential long-term production of 300,000 to 400,000 ounces, yearly. On October 9, 2024, Mali's Council of Ministers approved a draft decree renewing the operating permit...

The Séguéla gold mine in Côte d'Ivoire, which began operations in May 2023, is on track to produce 4 tonnes of gold in 2024. According to Fortuna Mining, the Canadian company owning the mine, it produced 78,617 ounces in 2023, and eyes 138,000 ounces this year.  As of the end of September 2024, Séguéla had already delivered 102,537 ounces. Fortuna Mining, the mine’s Canadian owner,...

Since May 2023, Côte d'Ivoire has been benefiting from an IMF EFF/ECF agreement, supplemented by RSF financing. From September 23 to October 9, an IMF mission evaluated the progress of ongoing reforms in the country. Côte d'Ivoire is set to receive about $825 million from the International Monetary Fund (IMF) after the board approved the evaluations of its reform programs. Olaf...

The report explores the choice between public and private investment for developing quality telecom infrastructure in Africa. Private operators have shown reluctance to invest in less profitable areas, prompting some governments to step in, despite facing financial and technological constraints. The report advocates for public-private partnerships to combine resources and expertise, leading to a...