In 2023, China was Nigeria’s top supplier, holding 18.4% of the market with $10.2 billion in exports, according to the French Treasury. During their meeting in Beijing on September 3, Nigerian President Bola Ahmed Tinubu and Chinese President Xi Jinping oversaw the signing of several cooperation agreements on the sidelines of the Forum on China-Africa Cooperation (FOCAC). These...

Many countries are looking to diversify their graphite suppliers, amid China’s restrictions on its supply chain. South Korea is part of this group and it is ramping up efforts to boost cooperation with African producers.  South Korea's POSCO sealed, on Sept.3, a $40 million deal with Australia’s Black Rock Mining to invest in Tanzania’s Mahenge graphite project.  Under the...

Mali’s new mining code, adopted in 2023, enables the government to earn CFA500 billion more from the mining sector yearly. This code, however, is yet to be applied to the country’s active gold mines.  The Malian government and Allied Gold, a Canadian company, have agreed in principle (AIP) to renew the firm’s operating permit for its Sadiola gold mine for 10 more years. This AIP or...

To overcome the significant digital divide in many African countries, governments are stepping up international partnerships. The financial support or trade agreements obtained are being used to strengthen various areas to improve connectivity and technology access across the continent.  The President of the Republic of Sierra Leone, Julius Maada Bio, has announced the signing of two...

Yesterday, Côte d’Ivoire successfully raised CFA109 billion ($183.6 million) in the regional public securities market. Through this latest auction of Treasury bills and bonds (BAT and OAT), the country exceeded its initial goal of CFA100 billion. This success comes despite ongoing global and regional economic pressures from inflation and high interest rates. Ivorian investors played a...

The Malian government has decided to make ICT a central pillar of its efforts to modernize administration and government operations. With partners like Huawei, the country aims to fast-track its digital goals. Yesterday in China, the Malian Transmission and Broadcasting Company (SMTD) signed a memorandum of understanding with Chinese tech giant Huawei during the Forum on China-Africa Cooperation...

Tourism, a key sector of Morocco's economy, is on track for another record year due to a significant influx of foreign visitors and Moroccans living abroad. In the first seven months of 2024, Morocco welcomed a record 10 million tourists, marking a 15% increase compared to the same period in 2023. This data was released on Monday, September 2, by the Ministry of Economy and Finance. In July...

The agreements, signed on the eve of the ninth edition of the Forum on China-Africa Cooperation (FOCAC), primarily focus on the public works and energy sectors.  Gabon signed investment agreements worth $4.3 billion with Chinese investors during a bilateral economic forum held in Beijing on Tuesday, September 3. The Gabonese Ministry of Economy and Investments announced the deals in a...

As a leading insurance provider in Morocco, Sanlam Maroc still faces challenges in the savings segment while the country’s 3.8% insurance penetration rate suggests significant growth opportunities for insurers. Sanlam Maroc, Morocco’s leading insurer with a 17% market share, announced (Friday) a 1.2% increase in its cumulative revenue for the first half of 2024, reaching MAD3.535 billion...

The African Development Bank, the African Union Commission (AUC), the United Nations Economic Commission for Africa (ECA), and the Pan African Climate Justice Alliance (PACJA), brought together key stakeholders in Abidjan to align Africa’s climate action priorities ahead of the COP29 conference. The meeting, the Twelfth Conference on Climate Change and Development in Africa, opened on 30...