Chemaf has had a 25-year lease on a copper-cobalt permit belonging to Gécamines since 2015. To develop this permit, Chemaf has put itself up for sale in 2023, as it was struggling to finance the project. However, Gécamines is yet to approve the sale. The sale of Chemaf Resources, a copper-cobalt miner in the DRC, will not go through without the approval of Gécamine, the State mining company....

Madagascar’s Molo graphite currently produces 17,000 tonnes per year. NextSource Materials, the owner, wants to increase this capacity to 150,000 tonnes a year by investing $162 million. It recently announced the IFC's support for the project. The Molo graphite mine will see its production capacity rise from 17,000 tons to 150,000 tons per year, with a $162 million investment. Last...

Though the world’s top cobalt producer, the Democratic Republic of Congo (DRC) supplies barely 1% of the refined cobalt used worldwide. The Central African country, also the world’s second-largest copper producer, has been ramping up efforts to develop its local processing industry, leveraging the interest of big countries for its subsoil. Last week, the US government announced a $2...

The report points out that most sukuks on the African continent are issued in foreign currencies, with rates ranging from around 2% to over 16%. "Ijara" remains the dominant type of Islamic bond. African countries have issued $5.52 billion in sovereign sukuks to date, representing just 0.7% of the global sukuk market, according to a report released in May by Abbas Chérif, an independent...

As an integral part of Cameroon-France cooperation, the Debt Reduction and Development Contract aims to transform part of Cameroon's debt to France into financing for development projects. The program targets sectors such as health, urban development, justice, education, agriculture and security. Cameroon has secured a €20 million ($21.5 million) financing agreement with France for Phase...

Société Générale Côte d'Ivoire, the Ivorian branch of the French banking group Société Générale, has become the highest-valued bank in the Economic Community of West African States (ECOWAS). Listed on the Abidjan Regional Stock Exchange, its market valuation stands at CFA638.1 billion ($1.04 billion). This makes it one of only 14 African banks with a market value exceeding $1...

Leo Lithium announced last May the sale of its remaining stake in the Goulamina project in Mali to China's Ganfeng Lithium for $342.7 million. The Malian government has allowed Leo Lithium to sell its remaining stake in Mali’s first lithium mine, the Goulamina mine. The stake was sold to Ganfeng Lithium, a Chinese firm. Lea Lithium revealed it obtained Bamako’s approval on June...

The Prime Minister (PM) of Italy, Ms. Giorgia Meloni, and the President of the African Development Bank Group, Dr. Akinwumi A. Adesina, met on the sidelines of the G7 Heads of State and Government Summit in Puglia. Their discussion focused on the forthcoming launch of a series of joint initiatives to support the implementation of Italy’s Mattei Plan for Africa and Rome Process on Migration...

Five African nations  Angola, Egypt, Ghana, Nigeria, and South Africa collectively hold 71.10% of the total nominal value of Eurobonds issued by all countries on the continent. This finding comes from a report published on May 28 by Development Reimagined, a China-based think tank specializing in development consulting. Titled "Africa's Eurbonds : How large are the eurobonds held by...

No African country has established specific tax rules for influencers, who remain under general tax regimes. Only a few countries, like Cameroon and Kenya, tax influencers primarily on social media income. As influencer marketing gains economic importance in Africa, setting up taxes for influencers remains challenging due to the vague nature of this activity and its revenue, according to a...