Mali has reported a shortfall of 300 to 600 billion FCFA in 2023 after auditing mining companies. To address the issue, the government is negotiating with industry players and strengthening its legal framework. During the Council of Ministers meeting on September 11, 2024, the Malian government adopted a decree on financial infractions. This decree updates a 2016 regulation to ensure proper...

The plant could produce 25,000 tonnes of coated spherical purified graphite yearly, an essential component of electric battery anodes. The plant could be supplied in graphite a Chinese group active in Guinea. Falcon Energy Materials, a Canadian company focused on battery components for electric vehicles, announced on September 9, 2024, that it has signed a technical and strategic partnership...

The Fekola mine, Mali’s second-largest gold mine, is expected to produce a maximum of 450,000 ounces in 2024. B2Gold, its owner, discovered a new deposit 20 km away and has secured the application of the 2023 mining code for this project. On September 11, 2024, Canadian miner B2Gold announced it had signed an agreement with the Malian government to keep mining gold at its Fekola project. This...

The World Trade Organization (WTO) and the World Bank introduced a new initiative called the "Trade in Services for Development" during the 2024 Public Forum. Supported by a $1 million donation from the United Kingdom, this program is part of the broader "Aid for Trade" effort. It aims to help developing countries maximize the economic benefits of service trade. The initiative includes a...

Gamtel is dealing with ongoing disruptions to its fiber optic network, which have been affecting its services. This year alone, the company has reported issues in April and May. On September 12, NetBlocks, a British organization that monitors global internet freedom, reported disturbances on Gamtel's network. The historical operator, Gamtel, announced a fiber optic break on the route between...

South Africa's six largest banks are preparing to raise R360 billion ($20.23 billion) by 2030 in response to new requirements set by the South African Reserve Bank. This complex but essential financial tool, known as the Financial Loss Absorbing Capacity (FLAC), aims to boost banking stability and prevent the need for government bailouts. When major banks faced significant losses, governments...

The World Bank reports that sending $200 to Sub-Saharan Africa comes with a 7.9% fee, one of the highest in the world. With remittances being a vital part of the region's economy, the WTO wants to reduce these costs for Sub-Saharan Africa. Reducing the cost of migrant remittances could significantly support the development of the least-developed countries, according to Xiangchen Zhang,...

The African Development Bank (“AfDB”), rated Aaa (Moody’s) / AAA (S&P) / AAA (Fitch) / AAA (Japan Credit Rating), has launched and priced a new USD 2 billion 5-year Social Benchmark transaction due 18 September 2029, coinciding with the 60th anniversary of the founding of the AfDB. The bond was launched on Tuesday 10 September and pays a coupon of 3.500% with a re-offer yield of 3.574% and...

The African Union envisions a continent where all regions are interconnected. This goal is part of its digital strategy, and to achieve it, the organization has partnered with technical and financial supporters, including the World Bank. The East African Community (EAC) is preparing to launch the East Africa Regional Digital Integration Project (EARDIP) in partnership with the Intergovernmental...

In recent days, many consumers in Cameroon have taken to social media to voice their frustration over the declining quality of services from telecom operators Orange and MTN. In response, the telecom regulator stepped in to explain the situation. One of the main reasons for the recent drop in mobile service quality is the ongoing degradation of the national fiber optic network. This was...