Ivanhoe Mines Limited, the driving force behind this performance, keeps exploring in 2024. The DRC could become the leading supplier of copper, which currently records greater demand than supply. The Democratic Republic of Congo (DRC) concentrates 65% of newly announced copper reserves identified worldwide in 2023, according to an S&P Global Market Intelligence report. This positioning is...

Nigeria has added more than $5 million to its foreign reserves through a national gold purchase program. This initiative, which involves buying gold from local producers, has strengthened the Central Bank of Nigeria's (CBN) reserves and enhanced its monetary policy effectiveness. Dele Alake, Nigeria's Minister of Solid Minerals Development, announced this achievement during a recent meeting...

Niger has swiftly mobilized more than CFA645 billion ($1 billion) since April 2024 as international donors resume cooperation with the country, which heavily relies on external resources for nearly 34% of its budget. Since actively reintegrating into the auction-based public securities market, Niger has raised a total of CFA645 billion, according to data compiled by Ecofin Agency from...

Australia's Aurum Resources is among the recent foreign mining juniors interested in Côte d'Ivoire's gold potential. In just a few months, the company has raised several million dollars for its flagship Boundiali project in the country. Aurum Resources has announced the opening of a share purchase plan to raise up to A$3 million ($1.99 million). The firm will use the operation’s net proceeds...

Infratel Africa aims to connect underserved communities across Africa amid rapid digital transformation. The company operates in several countries including Nigeria, Ghana, DRC, and Cameroon. Telecom infrastructure provider Infratel Africa has entered a partnership with Nigerian Communications Satellite Ltd (NigComSat) to enhance connectivity services in rural areas of Nigeria. Under the...

Namibia is the world's third-largest producer and Africa's largest producer of uranium. Spurred by the recent surge in uranium prices, new investors are flocking to the country.  Australian mining company Gibb River Diamonds has acquired two uranium projects in Namibia, the continent's leading nuclear fuel producer. The firm announced the acquisition via a press release dated June 24,...

The International Monetary Fund (IMF) announced on June 21 that its Executive Board approved two aid programs worth a combined $658 million for Madagascar. The funding aims to strengthen the economic resilience of the island nation and support its climate change adaptation efforts. The first program, under the Extended Credit Facility (ECF), amounts to $337 million. Scheduled to last...

Investment portfolios of impact investors in sub-Saharan Africa mainly target the agriculture, finance, energy, health and technology sectors. Between 2017 and 2022, they recorded annual growth of 14.2%. Sub-Saharan Africa accounts for 12% of global impact investment flows, according to a report released on June 7, 2024, by the Foundation for Studies and Research on International Development...

The African Development Bank and the African Solidarity Fund (ASF) have signed a letter of intent to strengthen the two institutions’ working relationship and synergy. The partnership was ratified by Aida Ngom, Director of the Private Sector Development Department, on behalf of the African Development Bank Group, and Abdourahmane Diallo, the Fund's Managing Director, at the opening ceremony of...

The Board of Directors of the African Development Fund has approved an additional $10 million from the Global Agriculture and Food Security Program (GAFSP) to implement activities and scale up the impact of the Smallholder Agriculture Development for Food and Nutrition Security project in Liberia. The project aims to improve food and nutrition security and reduce poverty of targeted rural...