Moov Africa Burkina Faso, the country's second-largest telecom operator by subscriber count, holds a market share of 42.91% as of the third quarter of 2023, contending closely with market leader Orange and Telecel. In 2023, Moov Africa Burkina Faso (Onatel) reported a net income of CFA20.1 billion ($33.3 million), marking a 14% decrease from the CFA23.37 billion recorded in 2022. The subsidiary...

Set to begin production in 2026, the Tiris project is poised to become Mauritania's first uranium mine. Initial estimates put the project’s output potential at around 2 million pounds per year over 17 years, but a new mineral estimation could enhance these figures. On April 10, Australian mining company Aura Energy released exploration for its Tiris uranium project in Mauritania. The ongoing...

Botswana is Africa's top diamond producer, a title it owes to mines operated by De Beers and Lucara. One of the firms active in the country is betting on innovative methods for exploration. Botswana Diamonds, a British firm, will apply AI to its extensive database in Botswana. The firm announced the move on April 9, stating that it will facilitate diamond deposit...

Managem took over several West African gold projects previously owned by the Canadian company Iamgold. The Senala project in Senegal is one of them. The project could make Managem one of the country’s top gold producers. The Senegalese government has renewed the exploration license for the Senala gold project until February 17, 2027. Oriole Resources, the British firm that co-owns the project...

Five years after the announcement by Alassane Ouattara and Emmanuel Macron of the end of the CFA franc and its planned replacement with the Eco, progress on these reforms has stalled. While some activists accuse France of undermining African governments' efforts, the French government insists it has done its part in the transition. In an interview with French media outlets RFI and France 24,...

Verod-Kepple Africa Partners announced the successful closing of its inaugural investment fund, Verod-Kepple Africa Ventures (Vkav), on April 9. The company said it has secured commitments totaling $60 million from a consortium of investors, predominantly from Japan, to finance African businesses experiencing growth phases. Launched in 2022, the fund will initially focus on companies...

Africa Finance Corporation (AFC) announced this week a significant 17.3% increase in its assets in 2023, reaching $12.34 billion. This milestone not only reflects the corporation's robust financial health but also surpasses the targets set by its five-year growth strategy by $2.3 billion. In a press release, the AFC, known for its focus on financing infrastructure projects across...

Economic growth in the African region behind the Sahara should reach 3.4% this year, according to estimates in the World Bank's latest Africa's Pulse report, published on April 8. Despite the predicted rebound, the institution warns of persistent inequalities and the need for transformative policies to encourage stronger and more equitable growth across the region. According to the World Bank,...

Fortuna Silver Mines aims to produce between 343,000 and 385,000 ounces of gold this year. More than half of this output should come from its operations in West Africa: Séguéla mines in Côte d'Ivoire and the Yaramoko mines in Burkina Faso. On April 8th, Fortuna Silver Mines reported gold production of 89,678 ounces in the first quarter of 2024, marking a 49% year-on-year increase. The...

Perseus Mining, which owns two gold mines in Côte d'Ivoire, one in Ghana, and a gold project in Sudan, has been trying to take over OreCorp for several months. Achieving this goal would allow Perseus to secure the Nyanzaga project in Tanzania. This mine can produce more than 70 tonnes of gold. Australian mining company Perseus Mining announced on April 8 that it has acquired 51.03% of another...