Since late 2021, Benin has faced terrorist attacks from jihadist groups in its northern regions. In response, the government has deployed thousands of soldiers to secure its borders with Niger and Burkina Faso. Benin army announced earlier this month it has received military equipment from China. The donation, which aims to boost the country’s counter-terrorism efforts, includes howitzers and...

The price of gold has been rising steadily since 2023, surpassing $2,500 per ounce in August 2024. This trend is beneficial for gold producers like South Africa, which has faced challenges in its mining sector in recent years. South Africa sold 114.4 billion rands (about $6.4 billion) of gold in 2023, up 18.8% YoY. The growth was driven by an average 8% rise in gold prices, according...

Copper prices have been surging in recent months. Africa's largest copper producer and one of the largest globally, the Democratic Republic of the Congo (DRC),  benefits from the dynamic. The country houses Africa’s biggest copper mine, the Kamoa-Kakula mine. Last week, Ivanhoe Mines announced the start of commercial production at the third copper concentrator of its Kamoa-Kakula project....

Given its limited access to the sea, the Democratic Republic of the Congo (DRC) strongly relies on its neighbors, including South Africa and Tanzania, to export its copper. Angola may soon become a new shipping route, due to the slowness when passing through Tanzania and SA. Last week, the first shipment of Congolese copper left the port of Lobito in Angola for the United States. Trafigura, part...

With Ghana’s presidential election on December 7, 2024, fast approaching, the race is set to be intense. The country’s struggling economy is at the heart of the battle between the top political parties. On August 24, 2024, the National Democratic Congress (NDC), the main opposition party in Ghana, unveiled a plan to inject $10 billion into the economy if they win the election. Cassiel...

Madagascar is set to implement a new mining code adopted in 2023. The code is expected to boost several mining projects in the country, including the long-delayed Toliara project. Base Resources, the company behind the Toliara project, announced on August 26 that it has reached a preliminary agreement with the Malagasy government regarding the extraction of mineral sands. A binding contract is...

Agence Sénégalaise de Presse (APS) reported that several major multinational companies operating in various sectors in Senegal have signed agreements with the state, some of which date back several years. Senegal is looking to re-examine its contracts with various partners in strategic sectors. To this end, Prime Minister Ousmane Sonko has established a commission to "defend the country's...

Mali, Burkina Faso, and Niger have urged the United Nations Security Council to take action against Ukraine, accusing it of supporting terrorist groups involved in a deadly July ambush against Malian and Russian troops. This call to action follows a statement by Andriy Yusov, a spokesperson for Ukraine's military intelligence agency, who claimed that Kyiv had provided information to Malian rebels...

In the first half of 2024, Algeria’s telecom company Optimum Telecom Algérie, commonly known as Djezzy, reported a revenue of 54.4 billion Algerian dinars (about $405.8 million). This marks a 9.4% increase compared to the 49.7 billion dinars generated during the same period in 2023. This impressive growth was fueled by a significant investment of 14.6 billion dinars, focused on improving...

Local and international private equity players invested $900 million in African companies during the first half of 2024, the African Private Equity and Venture Capital Association (AVCA) reported. This amount marks a 66% decrease compared to the same period in 2023. However, West Africa saw a 3% increase in investments. From January 1 to June 30, 2024, there were 182 transactions across the...