Africa's third-largest gold producer, Mali, keeps taking steps to directly benefit from its mineral resources. In 2022, the government created a new national mining company, and this year the firm has already acquired a gold mine and continues to strengthen its portfolio. The Malian government has granted a gold exploration permit to the Société de Recherche et d'Exploitation des Ressources...

Recent economic reforms in Guinea-Bissau have had a positive impact on the country’s outlook. Although the economy seems set to rebound, it still faces significant internal and external risks, according to the IMF. The IMF announced yesterday a disbursement of $7.3 million to Guinea-Bissau under the Extended Credit Facility (ECF) agreement. This funding will help meet the country’s...

Bayobab is continuing its expansion of the fiber network across Africa. The company aims to reach 135,000 km of its own fiber optic network across the continent by 2025. As of December 2023, it had already achieved 114,000 km. Bayobab, the digital subsidiary of South Africa's MTN Group, announced this week the completion of a new fiber optic route in East Africa worth about $13 million....

Oragroup is shifting its strategy after running into difficulties with its planned acquisition by Vista Bank. The bank is now focusing on stabilizing its financial situation through recapitalization, following a downgrade by Fitch to a "CCC-" rating. Alongside this, Vincent Le Guennou is stepping down from his role as chairman of the board. Last week, Oragroup decided to reassess its approach...

Nickel, essential for electric vehicle batteries, is a key metal for the energy transition. With the Kabanga project, Tanzania will soon be able to supply the world market with battery-grade nickel. The U.S. recently expressed interest in the project. Lifezone Metals announced on Aug. 27 that it has signed a letter of commitment with the U.S. Development Bank (DFC). The American firm is thus on...

Zambia, Africa's second-largest copper producer, is facing a severe energy crisis due to a historic drought, and starting September 1, there will be planned power cuts of up to 17 hours per day. This shortage is threatening the performance of the mining industry. Jubilee Metals announced on August 27 that it has signed a three-year renewable electricity purchase agreement with Lunsemfwa Hydro...

As the most industrialized country in Africa, South Africa has a diverse mining sector crucial to its economy. However, in recent years, the industry has faced challenges related to electricity supply and transportation of mining products. Mining contributed 444.2 billion rand ($25 billion) to South Africa’s economy in 2023, down 8.1% YoY. The contribution represents 6.3% of SA’s GDP,...

With Impaxis as the lead manager and its subsidiary BOAD Securitization as the arranger, the West African Development Bank (BOAD) wrapped up a CFA160 billion securitization deal in record time, solidifying its position as a leader in financial innovation in West Africa. After raising CFA150 billion in May 2023 through the securitization of sovereign debt, the West African Development Bank (BOAD)...

The affordability of basic commodities in Nigeria has deteriorated since 2020. With nearly 40% of the population living in poverty, this situation raises the specter of food insecurity on an unprecedented scale. In Nigeria, around 31.8 million people are currently experiencing acute food insecurity, according to a statement from the Ministry of Budget and Economic Planning on August 27. This...

Aliko Dangote, the Nigerian billionaire and head of Dangote Group, has once again lost his title as Africa's richest man to South African luxury goods magnate Johann Rupert. According to the daily rankings by Forbes and Bloomberg, Dangote's fortune has been hit hard by the ongoing devaluation of the Nigerian naira. As of now, Dangote is ranked 186th globally by Forbes, with a net worth...