Operational since January 2024, Dangote Refinery has been compelled to rely on crude oil imports due to insufficient deliveries from the Nigerian National Petroleum Corporation (NNPC). Nigerian billionaire Aliko Dangote announced on July 20 that his oil refinery plans to reach 85% of its production capacity by the end of the year, targeting 550,000 barrels per day (bpd). "The refinery,...

The Airbus A321XLR powered by CFM LEAP-1A engines has received its Type Certification from the European Union Aviation Safety Agency (EASA), preparing the way for the entry-into-service of the new aircraft at the end of the summer. The Type Certificate was handed over by Florian Guillermet, Executive Director of EASA, to Isabelle Bloy, A321XLR Chief Engineer. Certification of the Pratt & Whitney...

The National Communications Authority (NCA) is setting new conditions to facilitate telecom interconnections between operators. The guidelines for disconnecting telecom connections were released on the NCA’s website on Thursday, July 18. The NCA has published the "Guidelines on Procedure for Granting Approval to Disconnect Telecommunications Service Operators" on its official website. The...

In the first quarter of 2024, France emerged as Nigeria's largest trade partner, surpassing Spain and the United States for the first time in recent years. French imports from Nigeria totaled 2,125 billion naira ($1.4 billion), accounting for 11.05% of Nigeria’s total exports. This figure positions France ahead of Spain, which had led for the past five years, and the United States. If this...

Côte d'Ivoire launched three new gold mines since January 2023. Last year, the country produced 51 tonnes of gold and eyes 55 tonnes this year. More projects are being developed, and Ivorian gold output should increase in the coming years. Centamin released a feasibility study for its Doropo gold project on July 18. The mine could produce 167,000 ounces of gold annually for a decade, totaling...

A combination of factors can explain this rise in rates. Ultimately, states borrow at higher costs, even though the financial sector fully benefits. This situation reignites the issue of borrowing constraints for African states. Despite a slight decline, investors in the WAEMU (West African Economic and Monetary Union) money market continue to reap attractive returns on government-issued debt...

The Board of Directors of the African Development Bank Group approved a loan of $260.4 million to the Democratic Republic of Congo (DRC) to help finance the Project to Support the Development of Value Chains as part of its backing for the Agriculture Transformation Programme (PADCV-PTA).  The project, totalling $311.6 million, is being funded by a $250.4 million loan from the...

Canada's Orezone supplied 7% of Burkina Faso's gold output in 2023 from the Bomboré mine. This year, the firm plans to produce between 110,000 and 125,000 ounces of gold, down from 141,425 ounces last year. In the first half of 2024, the Bomboré mine produced 55,663 ounces of gold, down 27% year-on-year. On July 18, Orezone confirmed its production target for the year–between 110,000 and...

Zimbabwe is Africa's top producer of lithium. Despite falling lithium prices, the country keeps attracting foreign investments in its lithium sector. On July 18, the state-owned company Kuvimba Mining announced a $310 million deal to build a lithium concentrator within 18 months. The project is supported by a group of British and Chinese investors, which remain unknown. The concentrator is...

The African Development Bank Group has approved a ZAR 18.85 billion ($1 billion) corporate loan to Transnet, South Africa’s major freight transport and logistics company, for its recovery and growth plans. The 25-year loan approved by the Bank Group’s Board of Directors on Friday, 12 July 2024, is fully guaranteed by the government of South Africa. It will facilitate the first phase of the...