Cameroon’s public telecommunications company, Camtel, is leveraging the infrastructure of Camwater, the national water supplier, to enhance its service coverage across the country. On June 19, the two organizations signed a framework agreement for mutual infrastructure sharing. "This collaboration involves providing conduits or pipes during civil engineering works to facilitate the...

The International Monetary Fund (IMF) announced yesterday it has approved $935.6 million in funding for Tanzania to support economic reforms and climate change mitigation. Of this amount, $786.2 million will be disbursed over 23 months under the Resilience and Sustainability Facility (RSF). This loan mechanism, launched in 2022, helps low- and middle-income countries tackle long-term...

The International Finance Corporation (IFC) and Proparco, a subsidiary of the French Development Agency (AFD), announced a $41 million funding package for infrastructure company WIOCC. This funding will help WIOCC develop its primary and secondary data centers in the Democratic Republic of Congo, Nigeria, and South Africa. Additionally, WIOCC plans to continue expanding its terrestrial fiber...

The African Development Bank and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit's capital base and attract institutional investors’ resources to help close Nigeria's infrastructure financing gap. Lamin Barrow, Director General of the African Development Bank's Nigeria Country...

China is one of the main foreign investors active in Africa's mining sector. With a presence in several copper mines in the Democratic Republic of Congo and Zambia, Chinese companies constantly seek new assets, as competition mounts. Chinese firm JCHX Mining is on the verge of closing the purchase of the Lubambe copper mine in Zambia. This was reported by Reuters which noted that the Emirati...

Since the beginning of the year, Senegal has applied a reference price for phosphate exports. This floor price is used to calculate the mining royalty paid by producers. This breakthrough is the result of work carried out with the Intergovernmental Forum on Mining (IGF). Senegal has introduced a reference price for phosphate exports, which will be used to calculate the mining royalty paid by...

Africa's top lithium producer, Zimbabwe attracts more and more investors as the long-term outlook for the metal remains positive. Cluff Africa, a British company led by businessman Algy Cluff, has signed an agreement with Mutapa Investment Fund, Zimbabwe's sovereign wealth fund, to secure a 45% interest in the Sandawana lithium project. “We are pleased to have reached this pivotal point, from...

Central bank gold purchases have been a major driving force behind the recent burst in demand for gold worldwide, and subsequently price surge. Gold currently trades at over $2,300 an ounce. According to a recent World Gold Council survey, 29% of the Central Banks surveyed plan to expand their gold reserves within the next 12 months. This is the highest level ever since 2018 when the annual...

After the Central African Republic, Mozambique sought Rwanda's help in 2021 to restore security in a strategic province for exploiting natural gas reserves. These interventions, which position Kigali as a leading security actor on the continent, have sparked accusations of "economic predation." The European Union (EU) plans to discuss a new funding package of €40 million ($42.8 million)...

The Democratic Republic of Congo (DRC) has seen a remarkable increase in mobile internet adoption over the past few years, reflecting broader trends across African nations. In 2013, the DRC had just 1.4 million mobile internet subscribers among its population of 75.6 million. As of the third quarter of 2023, data from the Regulatory Authority for Post and Telecommunications of Congo (ARPTC)...