The Federal Republic of Nigeria has acceded to the Establishment Agreement for the Fund for Export Development in Africa (FEDA), the development impact investment platform of the African Export-Import Bank (Afreximbank). Nigeria joins the ranks of countries acceding to the Establishment Agreement of FEDA, becoming the 16th nation to do so.  This underscores the increasing backing the...

Côte d'Ivoire's Koné project, slated for 2027 production, could become the country's largest gold mine. Its development hinges on securing permits, with Ivorian authorities expressing support in May 2024. Côte d'Ivoire's Environment Ministry has granted an environmental permit for the Koné gold mine, set to be the country's largest. Canadian company Montage Gold, the project's owner, has...

Australian company Lotus Resources holds two African uranium projects in Botswana and Malawi. It aims to leverage these resources to become a major global uranium producer. Lotus has upgraded the mineral potential of its Botswana project, Letlhakane, now estimated to produce 80 million pounds of uranium over its lifespan, up from 67.5 million pounds previously. With its Kayelekera project in...

Chad's National Electoral Management Agency (ANGE) announced the provisional results of the presidential election on May 9. The election was held last May 6. Mahamat Déby Itno, previously serving as the transitional leader, secured 61.03% of the votes, surpassing his Prime Minister, Succès Masra, who garnered 18.53%. Former Prime Minister Albert Pahimi Padacké came in third with...

Airtel Africa, operating in 14 markets across sub-Saharan Africa, is gearing up to take its mobile money subsidiary public in 2025. The initiative was announced by CEO Olusegun Ogunsanya, on May 9 during a press conference held to unveil Airtel Africa's quarterly results. Ogunsanya also disclosed that Airtel Money aims to enter new markets ahead of its IPO. "We will continue to bring additional...

US Export-Import Bank (US EXIM) unveiled three agreements with Angolan authorities to fund solar energy, bridge, and communication infrastructure projects totaling $1.3 billion. Reta Jo Lewis, the bank's president, disclosed these deals at a press conference during the ongoing US-Africa Business Summit in Dallas, Texas. Lewis emphasized their role in advancing renewable energy, wireless...

President Patrice Talon of Benin has taken a firm stance by halting crude oil shipments from Niger passing through a jointly constructed pipeline. This decision, described as "difficult but necessary," aims to formalize economic exchanges between the two nations, emphasizing the need for structured trade channels. President Talon expressed the imperative of establishing formal economic ties to...

Côte d'Ivoire, a significant gold producer, also produces manganese, copper, cobalt, and nickel. Demand for these key minerals has grown in recent years, pushing the country to ramp up its exploration efforts. In a Cabinet meeting held on May 8, in Abidjan, the Ivorian government granted several exploration permits for various critical metals, including cobalt and lithium. Ivorian Exploration...

Tunisian tourism revenues reached TND1.64 billion (around $526 million) during the first four months of 2024, marking an 8% increase compared to the same period in 2023, according to data published on May 7 by the country's central bank. This increase is primarily attributed to a rise in the number of tourists, in a context marked by a significant improvement in the security situation in...

The West African Economic and Monetary Union (WAEMU), with its larger number of issuers and two dynamic bond markets, is the area driving these record-breaking statistics. From January 1 to May 8, 2024, the Central and West African states using the CFA franc have issued 205 loan securities on their local capital markets, according to a count by Ecofin Agency based on various data sources. This...