African businesses and governments are increasingly turning to the international bond market to meet their foreign currency needs, amid signs of growing openness from international investors. Despite the complexities many issuers from the region face, bond issues originating from Africa have exceeded $10 billion since the start of the year. Although this figure may seem modest compared to...

The Democratic Republic of Congo (DRC) and Rwanda are the world's top exporters of coltan, a mineral used to make key components of electronic devices like computers and smartphones. Together the two countries exported 32,702 tons of coltan between 2014 and 2023.  The Democratic Republic of Congo (DRC) exported 1,918 tons of coltan in 2023, while Rwanda exported 2,070 tons. According to...

Subsidiaries of the Bank of Africa (BOA) in Côte d'Ivoire, Burkina Faso, and Niger are set to initiate the 2023 dividend distribution season on the regional stock exchange BRVM. Investors can anticipate a total payout of CFA36.96 billion (approximately $61 million) in net dividends from these banks. As per the official schedule, three BOA group banks will be the first listed companies to...

Angola, a country where only 33% of the population has internet access, initiated the commercial operation of its Angosat-2 satellite at the end of January 2023. The government, in partnership with telecom service providers, sees this as a pivotal step toward fast-tracking the country's digital transformation. Internet Service Provider MSTelecom plans to leverage the national telecom satellite,...

Sub-Saharan Africa spends $8.4 billion each year to fight infections acquired within healthcare facilities, according to a comprehensive study published on April 7 by the global NGO WaterAid and the World Bank. This significant financial burden equates to an average of 4.5% of the region’s annual health budget, the study conducted in Nigeria, Malawi, Ethiopia, Zambia, Uganda, Mali, and...

Following the sale of its short-term insurance subsidiary in Tanzania in January 2024, Old Mutual is continuing its withdrawal from certain African markets. The group, whose 1st shareholder is the South African Public Investment Corporation (16.76%), has launched the sale of its life and general insurance activities in Nigeria. South African financial services group Old Mutual has reached an...

The African Legal Support Facility (ALSF) has appointed Akere Muna, an eminent lawyer and international legal consultant, as Goodwill Ambassador, marking a new chapter in its commitment to build sustainable legal capacity on the African continent. Muna was  appointed by the Governing Council of the ALSF for a term of three years - a first time in the history of the young institution. A...

The African Development Bank, through its Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI MDTF), has approved a $999,000 grant to support an initiative to foster green jobs for women, youth and people with disabilities. The Strengthening Women, Youth and People with Disabilities’ Micro-Entrepreneurship for Green Jobs in Natural Resources (MicroGREEN) project aims to...

Rwanda, Uganda, and the Democratic Republic of Congo (DRC) are the three countries that produce tin in Central Africa. This metal is popularly used in soldering electronic components. The Bisie mine in the DRC produces over 4% of the global production. Meanwhile, the country does not have a single processing plant. Uganda will have its first tin refinery in May 2024. Led by Woodcross Resources,...

In the Democratic Republic of Congo (DRC), a law passed in 2017 requires mining companies to employ local subcontracting firms whose majority stake is detained by Congolese nationals. One of the country's main producers of copper and cobalt, Eurasian Resources Group (ERG), is accused of not complying with this measure. The DRC government has suspended nine subcontractors working in the copper...