High battery prices have long impacted electric cars’ final cost, thus impeding their adoption. If the prices of these batteries were to fall, consumer interest could rise, stimulating demand for raw materials in the process. The prices of lithium-ion batteries dropped 80% over the past decade, from $400/kWh in 2014 to $78/kWh in 2024. Simon Moores, CEO of critical minerals research...

Panthera Resources holds an 80% stake in Mali’s Kalaka and Bassala gold projects. The British company has just increased its stake in both assets and is now exploring its options for financing their development. Panthera Resources, a British company, has increased its stake in Mali's Kalaka and Bassala gold projects. It now holds 85% of both assets after acquiring an additional 5%,...

For FY2024-25, Ethiopia is expecting its economy to grow by 8.4%, up from 7.9% currently. “In recent years Ethiopia has faced a number of social, economic and political challenges. And a wide range of reforms have been implemented to address those challenges," Finance Minister Ahmed Shide said on Tuesday while presenting the State Budget proposal for the upcoming fiscal year. "The government's...

Food and housing prices pushed overall inflation in the WAEMU above the 3% threshold, reaching 3.7% in April 2024. UEMOA countries Niger, Burkina Faso and Benin recorded the highest inflation rates within the bloc in April 2024. Data from the BCEAO central bank show that these countries posted respective rates of 11%, 3.7% and 3.1% over the period, compared with 2.9% for Guinea-Bissau and just...

Kamoa-Kakula, the largest copper mine in the DRC and Africa, is expected to produce a maximum of 490,000 tonnes of concentrate in 2024. Its owners recently commissioned a new copper concentrator, aiming for an annual output of over 600,000 tonnes by 2025. Commissioned last month, the Kamoa-Kakula project’s third copper concentrator is online. Ivanhoe Mines, which owns the project, announced on...

Africa Data Centres (ADC) continues its expansion in West Africa with the construction of a new data center in Accra, Ghana. The move, announced in June 2022, aims to bolster ADC's footprint in the region where it already operates facilities in Nigeria and Togo. ADC, a leading builder and operator of data centers, unveiled a partnership agreement yesterday with Onix Data Centres to solidify its...

Lawmakers from the Peoples Democratic Party (PDP) of Nigeria have introduced a constitutional reform proposing to change the presidential term from a renewable four-year cycle to a single six-year term. This initiative comes amid electoral violence concerns. The proposal, unveiled in Abuja on Monday, June 10, by 35 opposition party lawmakers, aims to streamline governance and reduce public...

Fidelity Bank Nigeria Plc has acquired Union Bank UK, supported by a $40 million intra-African investment facility from Afreximbank. The financing, announced yesterday facilitated both the acquisition and recapitalization of Union Bank UK by the Nigerian commercial bank. Afreximbank provided $40 million in total, with an initial $20 million used to partially refinance the...

22 Chinese nationals and one Cameroonian have been sentenced to prison terms ranging from seven to eleven years, along with fines, for cybercrime in Zambia, according to information recently relayed by AP News. These convictions follow investigations launched after a rise in cases of computer fraud. Many victims reported unexplained financial losses from their mobile phones and bank accounts....

African and Asian applicants accounted for 90% of the global costs of Schengen visa refusals in 2023, a figure set to rise by 12.5% as application fees increase from €80 to €90. In 2023, SchengenVisainfo reported that 704,000 visa applications from Africans were rejected, totaling approximately $60.5 million (€56.3 million) lost in fees paid to the European Union without...