The strong performance of Attijariwafa Bank’s Ivorian subsidiary was mainly fueled by a 10% rise in operating profit and a 7% increase in net banking revenue. Société Ivoirienne de Banque (SIB), the seventh largest bank in the West African Economic and Monetary Union (WAEMU) based on total assets and deposits, reported a net profit of CFA25.6 billion ($43.1 million) for the first half of...

The HCP highlights that the growth in the second quarter of this year was mainly driven by domestic demand, with inflation easing during the period. Morocco’s economy grew by 2.4% in the second quarter of 2024, down from 2.5% in the same period last year. These figures were shared on Monday, September 30, by the High Commission for Planning (HCP), the country’s national economic planning...

Niger's Electronic Communications and Postal Regulation Authority (ARCEP) is taking steps to ensure telecom operators provide top-quality services to consumers. Colonel-Major Chaibou Idrissa, the Director General of ARCEP, visited Moov Africa Niger and Airtel Niger on September 30 to address recent service disruptions in the country. During his visit, Colonel-Major Idrissa explored the reasons...

On September 20, 2024, a press conference was held on the 20th floor of the SCIAM building in Abidjan to launch the first Hackathon for the Salon International des Ressources Extractives et Énergétiques (SIREXE). This Hackathon aims to foster innovation in these important sectors, organized by the Ministry of Mines, Petroleum, and Energy, and led by Mr. Mamadou Sangafowa Coulibaly. It targets...

After several delays, the start of commercial production at the Kouroussa gold mine in Guinea has been pushed back to Q4 2024. Originally scheduled for Q1 2024, this postponement follows various unforeseen events. Hummingbird Resources, the owner of the mine, is working hard to meet this new deadline. On September 27, Hummingbird Resources announced a restructuring process within the...

The Democratic Republic of Congo (DRC) is the world's top cobalt producer and the second-largest producer of copper. Both minerals are essential for energy transition. However, concerns remain about how much profit the country effectively makes from its mineral reserves. Kamoto Mine (KCC), a firm owned by Glencore, is at the center of a dispute with the tax authorities of the Democratic Republic...

Following Gabon's example, the "debt-for-nature" approach is becoming more popular in Africa, particularly among nations with heavy debt burdens and rich biodiversity. If the IUCN's initiative succeeds, it would mark the first time African countries work together to negotiate a collective debt swap aimed at protecting their shared ecosystem. Five African nations are preparing to launch what...

The program, launched by Heva Fund and Next Narrative Africa, aims to provide up to $5 million for each African television or film project. It seeks to support the continent's underfunded creative industry and position this sector as a promising investment opportunity. Heva Fund, an investment and advisory group focused on creative industries, partnered with Next Narrative Africa, an...

The Cocoa & Forests Initiative (CFI), the largest and first sector-wide public-private partnership in the cocoa industry, has released its latest annual report. In 2023, CFI made significant strides in traceability systems, forest conservation and climate adaptation as detailed in the newly published report. Despite a challenging year marked by erratic weather patterns, an increase in pests and...

In Africa, technical and vocational education faces many challenges, especially for young people and women. Among these challenges are the mismatch between training and jobs, along with a rapidly growing population. The 15th Ordinary Session of the Conference of Ministers in Charge of Employment and Vocational Training for the West African Economic and Monetary Union (WAEMU) concluded on...