The black market for stolen phones affects both security and economic growth. It fuels crime, including phone theft and trafficking, making it harder for law enforcement to control. Additionally, the sale of stolen devices hampers the growth of the legitimate electronics market and discourages formal investments.  The Nigerian Communications Commission (NCC) has introduced the Device...

Telecom services are rapidly evolving in Africa, with new infrastructure being deployed. However, the proximity of these towers to residential areas sometimes raises concerns. Egypt has improved the quality of its technical inspections for telecom towers. On September 2, the National Telecommunications Regulatory Authority (NTRA) and the National Telecommunications Institute (NTI) renewed an...

In June 2024, Nigeria’s inflation reached a 28-year high, hitting 34.19%, up from 33.95% in May 2024. As the country faces tough economic times, the government is working to restore stability. Nigeria’s value-added tax (VAT) revenue increased by 99.82% year-over-year in the second quarter of 2024, according to data released by the National Bureau of Statistics (NBS). During this period,...

Since taking office, Nigerian President Bola Tinubu has launched several reforms to revive the economy. One key initiative focuses on financing small and medium-sized enterprises (SMEs), which make up 80% of jobs in the country, to reduce poverty. According to the African Development Bank (AfDB), Nigeria’s multidimensional poverty rate stood at 63% in 2022. The Nigerian federal government will...

Mali wants to boost its mining revenues, especially from gold, by leveraging its new mining code adopted in 2023. The code, however, poses issues for mining companies currently operating or planning to establish mines in the country. Toubani Resources is in talks with the government to finalize a mining convention for its Kobada gold project. According to a document released on September 9 for...

The Democratic Republic of Congo (DRC) was the world's second-largest copper producer in 2023. To keep this position this year, the country plans to rely on all its operational mines, including those owned by Eurasian Resources Group (ERG). ERG, which is 40% owned by the Kazakh State and operates in cobalt and copper in the DRC, has signed a $150 million pre-export financing agreement with...

Starlink entered the African internet market in Nigeria at the end of January 2023. Since then, the satellite internet provider, a subsidiary of Elon Musk's SpaceX, has expanded to about ten other countries, including Rwanda, Kenya, Benin, Zambia, Madagascar, South Sudan, Sierra Leone, Ghana, and Botswana. On September 7, 2024, Starlink announced it has begun operations in Zimbabwe, marking its...

Nigeria has significant mineral reserves valued at $700 billion, including iron ore, but the mining sector contributes less than 1% to the country's GDP.  Chart & Capstone Integrated Limited, a Nigerian firm, has partnered with China's Sinomach-He to develop an iron ore mining and steel mill. They signed a $1 billion memorandum of understanding, presented to Mines Minister Dele...

On September 7, Senegal’s Prime Minister Ousmane Sonko revived a proposal to create a bank dedicated to the Senegalese diaspora. This initiative aims to channel the significant funds sent home by Senegalese living abroad into impactful and sustainable projects. The diaspora sends over $2.9 billion annually to Senegal, representing about 12% of the country’s GDP. This amount surpasses...

A year has passed since a devastating earthquake hit central Morocco, killing nearly 3,000 people, injuring 5,500, and destroying around 60,000 homes. In response to the tragedy, the Moroccan government, led by King Mohammed VI, acted quickly. A large reconstruction plan was launched, aimed at providing new homes for the victims and restoring the damaged infrastructure. Today, the rebuilding...