The persistently low value of bonds issued by this WAEMU country, which faces no risk of currency volatility due to the fixed parity of its currency with the euro, has rekindled the debate on the surcharge imposed on African states for borrowing on the world market. Market data analyzed by the Ecofin Agency reveals investor reluctance towards long-term Côte d'Ivoire Eurobonds. This skepticism...

The introduction of carbon taxes by key trading partners could severely impact South Africa's exports. The country relies on coal for over 80% of its electricity. South Africa's GDP growth could be significantly hampered if widespread carbon taxes are imposed on its exports in the coming decades, the South African Reserve Bank (SARB) warned in a report released May 20. The SARB stated that...

Southern Africa faces severe weather disruptions due to the natural climate phenomenon, El Niño. Zambia, Zimbabwe, and Malawi have experienced the worst droughts in at least forty years, while Tanzania has been hit by deadly torrential rains. The Southern African Development Community (SADC) launched a $5.5 billion aid appeal on May 20 to address the severe droughts and floods brought on...

Sonatel, a subsidiary of the French group Orange, signed a loan agreement on May 17 with Proparco, the British International Investment (BII), and the International Finance Corporation (IFC), totaling the equivalent of €87 million (about $94.5 million). These three financial institutions contributed €30 million, €25 million, and €32 million, respectively, to...

Africa’s top lithium producer, Zimbabwe, attracted over a billion dollars in investments for new mines over the past three years. The government now urges companies to establish local factories to process the mineral. Four major lithium producers active in Zimbabwe have submitted to the government projects to set up lithium concentrate processing plants in the country. Reuters reported the...

Zijin Mining owns 39.6% of the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC). Last Thursday, the Chinese firm unveiled plans to increase its global production, including in the DRC. China's top copper producer, Zijin Mining, plans to ramp its production to 1.22 million tonnes in 2025 and up to 1.6 million tonnes by 2028. This is about 50% more than its 2023 output (1.01...

The State Inspector General of the Republic of Djibouti and Executive Secretary of the Forum des Inspections Générales d'État (FIGE), Mr HASSAN ISSA SULTAN signed two memorandum  of understanding with the World Bank's Vice President for Integrity, Mr MOUHAMADOU DIAGNE this Tuesday, May 14, 2024 in a ceremony via videoconference. The first MOU concerns a technical partnership between the...

The Kouroussa gold mine should have produced its first gold in late March 2024, but production was postponed due to a commercial dispute. The dispute, opposing the mine’s British owner and its main subcontractor, should soon be settled. British firm Hummingbird Resources announced on May 16, 2024, that it sealed a deal to resume operations at its Kouroussa gold mine in Guinea. The deal was...

A recent report reveals that 69% of African banks consider themselves significantly exposed to currency risk, stemming mainly from the imbalance created by securing funds in strong foreign currencies while issuing loans in local currencies. Around 60% of African banks view financial products designed to mitigate exposure to exchange rate fluctuations, such as forward contracts and currency...

Burkina Faso, alongside Mali and Benin, is a key player in West Africa's cotton production. Following a lukewarm 2023/2024 season, authorities are banking on a recovery in the cotton sector for the upcoming season. The Burkinabe government sets its sights on ramping up cottonseed production to 598,250 tons during the 2024/2025 cotton season, according to the outcome of the latest Cabinet meeting...