Emirati satellite telecom provider Yahsat announced on June 10 that it has awarded a contract to Airbus Defence and Space for the construction of two new geostationary satellites. Named AY4 and AY5, these satellites will enable secure government communications across the Middle East, Africa, Europe, and Asia. Airbus will design and build the AY4 and AY5 satellites using its Eurostar Neo...

Nigerian financial technology companies, including Opay, Palmpay, and Moniepoint, are grappling with compliance costs nearing $1 million. These expenses stem from new anti-fraud requirements implemented by the Central Bank of Nigeria in 2023. The measures aim to bolster consumer protection and combat money laundering and terrorism financing. Fintechs must now adhere to strict obligations,...

Burkina Faso invested about $1 billion (over CFA600 billion) in military equipment in 2023, accounting for 30% of the state budget. This significant expenditure comes amid a prolonged security and humanitarian crisis fueled by terrorist attacks, placing substantial pressure on public finances. The country's budget deficit reached 6.7% in 2023 due to security-related expenses. Minister of...

The Government of the Republic of Djibouti has taken note with dismay of the "Container Port Performance Index 2023" report published on Wednesday, June 5, by the World Bank in partnership with the private company S&P (Standard and Poor’s). According to this report, the Port of Djibouti has dropped from the 26th position worldwide in 2022 to the 379th position in 2023. This decline of over 350...

The independent sanction mechanisms put in place by the African Development Bank (AfDB) to improve its governance, control and accountability are effective but still face major challenges. Such was the opinion expressed on Tuesday, 28 May 2024 in Nairobi by the judges who sit on various sanction mechanisms at the Bank. Justice Epuli Mathias Aloh, Chairman of AfDB Group’s Administrative...

Niger has approved the assessment and management plans for radiation levels at the future Madaouela uranium mine, a crucial step to commence operations at the site. This will enable Niger to increase its production of nuclear fuel. GoviEx Uranium, the mining company behind the project, has obtained a certificate from the Nigerien government validating the radiological baseline studies carried...

A few years ago, B2Gold sold two gold assets to Australia's West African Resources, including the future Kiaka gold mine. The Canadian company had nevertheless retained mining royalties on the assets until then. B2Gold, a Canadian mining company, has sold its royalties on two gold projects in Burkina Faso to Sandbox Royalties. B2Gold disclosed the sale on June 7, stressing that the projects are...

In Senegal, the education system is grappling with numerous challenges that hinder the country's ability to produce the human resources necessary for its development. Recognizing this, the new authorities are considering a comprehensive reform. President Diomaye Faye has instructed the government to conduct an evaluation of the education system. He made this directive during a Cabinet meeting at...

Benin's special prosecutor Mario Metonou announced on Thursday the arrest of five Nigerien nationals within Benin's borders. According to Metonou, the individuals allegedly entered the WAPCO-Benin terminal site through unauthorized means, claiming to be employees of WAPCO-Niger using counterfeit badges. "These individuals chose a back entrance instead of the main gate, and justified their...

African nations grappling with substantial financial losses from tax evasion and other illicit financial flows have ramped up their efforts in tax information requests. In 2023, African countries significantly bolstered their capacities to mobilize national revenues through information exchanges for tax purposes. According to the latest report from the Africa Initiative on Transparency in...