The opening of Abidjan’s second container terminal in November 2022 has significantly boosted container traffic, doubling volumes since then. This expansion keeps the port in the race for top performance in West Africa and on the continent. The port of Abidjan has seen a significant boost in activity, processing 1.6 million twenty-foot equivalent units (TEUs) in 2024, up from 840,926 TEUs in...

The report emphasizes that the relationship between conflict and climate change on the continent creates a complicated situation that worsens humanitarian crises and leads to widespread displacement. By 2050, around 113 million Africans may be forced to leave their homes and lands due to extreme weather events caused by climate change, according to a report released yesterday by the South...

Senegal plans to build a digital-first economy by 2034, integrating technology across all sectors. To bring this vision to life, a strategic roadmap has been designed with clear objectives and concrete actions. Senegal has launched an ambitious digital strategy called the “New Deal Technologique,” aiming to position the country as a regional and international tech hub by 2034. With a budget...

Afreximbank’s report suggests that Africa’s debt outlook should improve by 2028, driven by lower interest rates, progress in debt restructuring efforts across several countries, and a more favorable economic environment. Africa’s debt burden has surged over the years, with interest payments taking up a growing share of government revenues. In 2008, interest costs represented 6.8% of public...

Despite industry challenges, Lucara Diamond generated $172 million in revenue during 2023 through the sale of 379,287 carats, benefiting from the superior quality of its diamonds. Last year, Lucara Diamond earned $203.9 million from its Botswanese output. This is against $172.4 million in 2023, an 18% difference. Lucara’s performance contrasts with a steep decline in diamond...

In line with its ambition to boost the country’s annual copper output to 3 million tons by 2032, Zambia’s government bets on several projects, including one to expand the Lumwana mine. Barrick, the mine’s Canadian operator, recently said the expansion works should begin this year. On February 19, Barrick released a technical report detailing plans to expand the Lumwana copper mine. The...

Ivorian telecom operators are expected to provide nationwide coverage, yet some areas are still left out. The government is stepping up pressure to bridge the gap as it pushes forward with its digital transformation plans. Telecom operators Orange, MTN, and Moov Africa have committed to deploying around 240 small-scale radio sites across Côte d’Ivoire to improve nationwide network coverage....

Senegal is facing liquidity challenges, with its debt reaching 107% of GDP. The government has pledged reforms to ensure greater transparency, and talks are underway about restructuring local bank debt. At the IMF, officials have expressed support for the country, with ongoing efforts to find solutions to stabilize the situation. Senegal’s international bonds are holding steady on the market,...

Senegal's President Diomaye Faye believes that a complete overhaul of the country’s financial and accounting institutions is crucial to bring about a real shift in economic and financial governance. Senegal's President Bassirou Diomaye Faye has called for a new regulation on the conditions and methods of issuing government bonds, along with a more efficient organizational framework to manage...

In 2024, the euro steadily weakened against the dollar, dropping from 1.12 USD/EUR in September to about 1.02 USD/EUR by January 2025, directly causing the CFA franc to lose ground against the dollar. The CFA franc went through a turbulent year in 2024, with significant ups and downs in the foreign exchange market. The common currency used by eight West African nations lost 4.06% of its value...