The mobile money market in Africa is booming, with projected annual growth of 16% to 20% through 2030. After telecom giants led the way, fintech companies like Gozem, Wave, and Sama are now entering the sector, focusing on financial inclusion and technological innovation to change how people manage everyday transactions. Gozem is making a bold move by launching "Gozem Money," a mobile money...

Despite strong economic growth, inflation continues to climb in the West African Economic and Monetary Union (WAEMU), leading the bank to maintain its current rates. While central banks like the U.S. Federal Reserve and the European Central Bank (ECB) are considering lowering rates, BCEAO is taking a wait-and-see approach, hoping for relief by 2025. However, external shocks, regional insecurity,...

As part of the Forum on China-Africa Cooperation (FOCAC), several African countries have signed agreements with Chinese companies across various sectors. Togo has followed suit. On September 4, in Beijing, Togo’s authorities signed a memorandum of understanding with Chinese tech giant Huawei. The goal of this partnership is to strengthen the country's digital infrastructure. This deal was...

For Nigeria, this bond issuance offers a ray of hope amid economic challenges. The short-term success brings some relief, but questions remain about how the country will handle the risks of taking on foreign currency debt in a volatile environment. Nigeria recently achieved a milestone with its first-ever domestic dollar bond, which was oversubscribed by 180%. Initially aiming to raise $500...

Junior is a young student at a technical college in Bangui, capital of the Central African Republic, getting set to resume studies at the University of Bangui. From childhood, he has restlessly pursued interesting and ambitious ideas. A recent one: building a humanoid robot called “Mama Africa", to raise awareness about African culture and the fight against global warming. He worked on it...

The President of Cote d’Ivoire Alassane Ouattara led celebrations on Tuesday to mark the African Development Bank’s 60th anniversary. “This is an historic milestone and a cause for celebration, but it is also an opportunity to see that the African Development Bank has financed some pivotal infrastructure and helped improve the living conditions of millions of Africans. The Bank is a source...

Last year, law enforcement in 11 West African countries seized a total of 83,734.84 kg of drugs and over 31,000 drug tablets/capsules, according to a September 2024 report by the West African Epidemiology Network on Drug Use (WENDU). The document, titled "West Africa’s Creeping Drug Epidemic: Soaring Addiction, Lagging Response," provides detailed insights into drug use trends across the...

Last month, Ecofin Agency announced the launch of Bankable, a new economic news platform based in Kinshasa, aimed at highlighting business opportunities and the evolving economic governance in the Democratic Republic of Congo (DRC). As of today, Bankable is also available in English. The English-language version of Bankable opens up reliable, well-researched information on the DRC’s economy to...

The ongoing WTO Public Forum 2024 focuses on how global trade can foster inclusivity. For Africa, where many nations face marginalization, the organization offers solutions to enhance business participation in both intra-continental and international trade. Unlike other continents, Africa's intra-regional trade is significantly more expensive than trading with external partners, according to the...

Per capita income has grown threefold over the past three decades in low- and middle-income economies, according to the World Trade Organization. As the organization celebrates its 30th anniversary, it urges greater investment to promote more inclusive trade amidst geopolitical challenges and the threat of economic fragmentation. International trade, facilitated by the World Trade Organization...