Kenya tops African entries in 2025 IMD ranking at 56th globally. Botswana, Ghana, South Africa, Nigeria, and Namibia also ranked. Rankings mix data and executive views on economy and governance. Six African countries ranked among the world’s most competitive economies in the 2025 IMD World Competitiveness Ranking, released Tuesday, June 17, by Switzerland’s IMD Business...

Highlights: IDA grants $100 million concessional loan for urban mobility reform in Senegal Project to integrate BRT, TER, and formalized bus networks in Dakar Goal is to improve transport access for 3.8 million people and reduce congestion The World Bank has approved a $100 million concessional loan through the International Development Association (IDA) to support urban...

Highlights: Asante aims to raise $470 million through loans and equity for expansion Targeting 500,000 ounces of gold output by 2028 from Bibiani and Chirano mines Package includes $345 million from Appian Capital and Rand Merchant Bank Asante Gold is advancing a growth strategy to raise its annual gold production in Ghana to 500,000 ounces by 2028. As part of the plan,...

Wilmar to buy out PZ Cussons’ 50% stake in PZ Wilmar for $70 million Acquisition includes 26,500 hectares of plantations and a 1,000-ton/day refinery Nigeria’s rising demand and supply deficit drive Wilmar’s expansion strategy Singapore-based agribusiness group Wilmar is set to fully acquire PZ Wilmar, its Nigerian joint venture with British multinational PZ Cussons. The...

Five African producers to allocate 1% of rough diamond revenue to global campaign Agreement signed with key industry players to counter rise of lab-grown diamonds Campaign to be led by the Natural Diamond Council, supported by over $60 million Amid falling natural diamond sales and rising competition from synthetic stones, five African diamond-producing nations have pledged to...

CBN bars undercapitalized banks from dividends, bonuses, and offshore investments. Move aims to boost capital and address bad loans before March 2026 deadline. Critics fear impact on investor confidence and fundraising. The Central Bank of Nigeria (CBN) has temporarily barred banks that have not yet met new capital requirements from paying dividends and bonuses. The directive,...

Mauritania gets $2B pledge from Arab lenders for 2025–2030 development plan. Funds focus on energy, water, transport, and digital sectors. Reforms and strong FDI back growth and diversification goals. Mauritania secured a $2 billion funding pledge from the Arab Coordination Group (ACG) on Tuesday, June 17, to support its national development strategy. The commitment was...

Mali begins building gold refinery with Russia’s Yadran; key project details remain undisclosed. Refinery capacity exceeds Mali’s output; neighbors have their own refining plans. No word on LBMA certification, key for global gold market access. Malian President Assimi Goïta on Monday, June 16, laid the foundation stone for the country’s future national gold refinery. With a...

Algeria allows foreign firms up to 80% in mining projects to cut hydrocarbon reliance. State firms retain 20% minimum stake with 30-year permits and anti-dilution rules. Law streamlines approvals, grants data access, and exploration rights in new areas. Algeria's parliament on Monday passed a new law allowing foreign companies to own up to 80% of mining projects, a move aimed at...

85% of West Africa’s $10B food trade is informal, per OECD. Staples like cereals and tubers dominate informal trade, missing from official data. Informality distorts trade planning and hinders ECOWAS agricultural policy coordination. Nearly 85% of food trade between West African countries occurs outside formal channels, unrecorded by customs or administrative authorities,...