Contrary to widespread perception, Nigeria emerges as the primary beneficiary of Cote d'Ivoire's trade, based on data released by the Ivorian customs administration covering the period from 2019 to 2023. Nigeria's cumulative trade surplus with Cote d'Ivoire reached CFA5,170 billion ($8.4 billion), making it the leading beneficiary of trade in goods between Côte d'Ivoire and its partner...

Côte d'Ivoire's gold production has been steadily rising for a decade and is expected to reach 55 tonnes in 2024. This growth has attracted new investors seeking to tap into the country's gold potential. One such investor is African Gold, a junior mining company that plans to raise AU$2.09 million (US$1.6 million) from its shareholders to finance gold exploration in Côte d'Ivoire. Eligible...

CMOC and Glencore, the world's top cobalt producers, are maintaining their output despite a 60% price drop from the last peak. The Democratic Republic of Congo (DRC), where the firms operate, is exploring ways to secure a "fair price" for the metal. Cobalt prices on the London Metal Exchange have fallen 20% in the past year, trading at $27,830 per ton on April 29th. However, the Ecofin...

Niger, facing arrears due to ECOWAS sanctions, has stepped back into the regional financial market after a hiatus since August 2023. On April 26, the Sahelian nation mobilized a total of CFA457 billion ($747.03 million). Despite achieving a 109% coverage rate, slightly below market norms, this move signals Niger's return. Subscriptions for the 364-day bonds reached CFA304.6 billion,...

The European Union (EU) has greenlit financial support of €15 million ($16.08 million) under the European Peace Facility to bolster the Ivorian armed forces. This plan, made public on April 29, aims to enhance the operational capacities of the Ivorian armed forces to secure border areas and combat non-state armed groups threatening the stability of the country and the sub-region. The EU...

China has surpassed the United States as the most influential power in Africa in 2023 in terms of "soft power." This is the result of a survey carried out in 36 African countries among thousands of citizens aged 15 and over by the US polling firm Gallup. The latter compiled its findings in a report titled "Rating World Leaders 2024: The U.S. vs. Germany, China and Russia". According to the...

Sabodala-Massawa is Senegal's largest gold mine. Its owner plans to commission a new processing plant at the site. This year, the firm eyes an output of 11.33 t, up from 8.33 t last year.  Endeavour Mining announced the successful first gold pouring from its new processing plant at the Sabodala-Massawa gold complex on April 29. This achievement follows a project initiated in 2022 to boost...

Nigeria's mining sector contributes less than 1% to the GDP, despite the country's $700 billion in mineral resources. Illegal mining is a major factor behind this low contribution, and the government is ramping up efforts to combat the issue. On April 27, the Nigerian Security and Civil Defence Corps (NSCDC) announced the arrest of four Chinese nationals suspected of illegal mining....

In February 2024, Anglo American Platinum announced it would lay off up to 3,700 workers due to inflation and operational challenges in South Africa's mining industry. On April 26, Impala Platinum (Implats) revealed plans to consult with unions about dismissing around 3,900 workers in South Africa. The firm advanced the same reasons as its South African rivals who also laid off thousands of...

Tunisia has secured cumulative funding of $1.2 billion from the International Islamic Trade Finance Corporation (ITFC) to finance crude oil and refined petroleum product imports, the Ministry of Economy and Planning announced in a statement released on April 28. The funding agreement was formalized through a framework partnership agreement signed by Tunisian Minister of Economy and...