The Algerian government is preparing to renew the satellite telecom licenses for Algeria Telecom Satellite (ATS) and Optimum Telecom Algeria (Djezzy). These licenses, originally signed on September 21, 2019, are set to expire on September 21 this year, after five years of validity. On September 4, the government reviewed two executive decree projects to renew these licenses. The goal is to...

The number of Mobile Money accounts in Africa jumped from 562 million in 2020 to 856 million in 2023, reflecting a 52% growth, according to a report by the GSMA, titled "State of the Industry Report on Mobile Money." This report examines the global growth of Mobile Money services. Active accounts, defined as those used within 30 days, also increased by 47%, from 161 million in 2020 to 237...

Mali has signed several agreements with Chinese companies, signaling the start of a new "strategic partnership" between the two nations. This was announced during the 9th Forum on China-Africa Cooperation, with Chinese President Xi Jinping meeting Malian President Assimi Goïta on September 2. "I propose raising Sino-Malian relations to a strategic partnership to continue building on our...

The Douta project, owned 70% by Canada’s Thor Explorations, is a key asset for Senegal's long-term gold production plans. The project contains 1.78 million ounces (over 50 tonnes) of gold, and the company is working to increase this estimate. This year, Thor Explorations identified several high-grade gold deposits at the Makosa East prospect within the Douta project. In a press release dated...

Mali successfully raised CFA22.6 billion ($38.2 million) in a bond auction on September 4 after seeking CFA25 billion. The total bids reached CFA26.24 billion. With a 104.96% coverage rate for its 364-day Treasury bills (BAT) and 90.62% for its three-year Treasury bonds (OAT), Mali seems to be regaining investor confidence after mixed previous results. However, the reality is more...

The International Solar Alliance (ISA) plans to launch a $100 million guarantee fund to boost solar energy solutions in Africa. According to The Economic Times, the fund aims to mobilize up to $1.5 billion in financing to speed up the deployment of decentralized solar systems in African countries with high solar potential. Ajay Mathur, the ISA’s Director-General, said “We are...

Investment in AI and technology can spur economic development by creating new industries and job opportunities. It can attract further investment and partnerships, enhancing the region’s economic prospects. Google has partnered with Zambia to set up an Artificial Intelligence (AI) Center of Excellence at the University of Zambia (UNZA), the Zambian Ministry of Technology and Science announced...

Over the past three years, the electronic money sector in the WAEMU region has seen explosive growth. Between 2021 and 2023, the value of electronic money transactions surged by 288%, rising from CFA44.2 trillion to CFA171.9 trillion. In 2023 alone, it grew by 146%. Transactions themselves doubled, reaching CFA8.78 trillion. The number of service points locations where people can deposit or...

On September 3, the United States announced $40 million in aid to combat food insecurity and improve resilience in Africa. The funding, provided through USAID, will primarily go toward projects in Tanzania, Madagascar, Malawi, Zambia, Mozambique, and the Democratic Republic of Congo (DRC). This financial support will help farmers adapt to extreme weather by using improved crop varieties and...

In March, Telkom announced a deal to sell Swiftnet to a consortium led by British investor Actis. The transaction has now received approval from South Africa’s Competition Tribunal. Telkom, South Africa's telecom company, has moved forward with selling its telecom tower subsidiary, Swiftnet, to a consortium led by British investor Actis. The deal, valued at 6.75 billion rand ($377.9 million),...