In recent years, Africa has seen a surge in demand for connectivity, data storage, and processing capabilities. Investments have been ramping up to meet this growing need. Data center operator Raxio Group announced it will commission its data center under construction in Kinshasa, Democratic Republic of Congo (DRC), in July. This was revealed by Dominique Migisha, coordinator of the Digital...

The Republic of Congo has an underdeveloped mining sector; a situation that contrasts with its vast mineral resources. This situation could, however, change in coming years, as the country ramps up efforts to exploit its resources and diversify its economy. This quarter, Kore Potash plans to sign an Engineering, Procurement, and Construction (EPC) contract for its Kola Potash project in the...

Last year, amidst criticisms over the outcomes of its "mines for infrastructure" contract with China, the DRC government renegotiated with the Asian giant, securing an additional $4 billion. This might have been impossible if the contract’s terms had not been disclosed. The $7 billion agreement signed between China and the DRC in mid-March 2024 shows how important transparency and...

Last November, Turaco Gold sealed a deal with Endeavour Mining to acquire the Afema gold project from the biggest gold producer in West Africa. The project, located 120 km from Abidjan near the border with Ghana, could join other Ivoirian gold mines.  Turaco Gold now holds 51% of the Afema gold project located in southeastern Côte d'Ivoire. The mining firm officially announced the news on...

As part of its "Ambition 2025" strategy, MTN Group is focusing on empowering Bayobab, its wholesale fiber optic subsidiary. To strengthen its presence across Africa, Bayobab is in the process of securing the necessary regulatory permissions to operate in various markets. In its 2023 annual results, the South African telecommunications giant revealed that Bayobab has acquired nine fiber optic...

Société Générale Côte d'Ivoire once again stands out on the Abidjan Regional Stock Exchange for its generous dividend policy. For FY2023, the bank has announced that 55% of its net profit will be distributed in the form of dividends, achieving the highest payout ratio since 2017 and marking the sixth consecutive year of increases. Among the 11 BRVM-listed companies, which have already made...

The report noted that renewable energy sources in Africa now account for nearly a quarter of the total power generation capacity on the continent, yet they represent only 1.6% of the global renewable capacity. Between 2014 and 2023, Africa's installed renewable energy capacity surged from 32.54 gigawatts (GW) to 62.10 GW, marking a 91% increase over the decade, as per the report released on...

IMF says Algeria’s mid-term economic outlook will depend on efforts made to diversify the economy and the government’s capacity to attract private investment. The International Monetary Fund (IMF) issued a statement last week predicting that the Algerian economy will grow by 3.8% in 2024 and 3.1% in 2025, supported by substantial government budget spending. However, the global financial...

In March 2024, Egyptian and Moroccan tech startups attracted significant investment, collectively securing $9.5 million, which placed them as the third and sixth highest-funded in the MENA region's startup ecosystem, respectively. Despite this achievement, they remain behind their Middle Eastern counterparts in the overall competitive funding arena. Egyptian and Moroccan start-ups...

In 2023, Aya Gold & Silver conducted over 100,000 meters of drilling at its Zgounder silver mine and the polymetallic Boumadine project. This year, the Canadian company plans for up to 145,000 meters of drilling across its various assets in Morocco. Aya Gold & Silver plans to spend $36 million on its Moroccan exploration activities this year.  The Canadian mining company announced the...