The largest digital reading library on the African continent with over one million subscribers, announces the launch of its services in Ghana in partnership with mobile payment expert Digital Virgo and MTN. This marks a significant turning point in the company's development, as it strengthens its presence in the English-speaking African market, underlining its commitment to making culture...

The Bomboré mine delivered 141,425 ounces (4 tons) of gold in 2023. The mine, which began production in September 2022, is 90% owned by Orezone, a Canadian firm. The government of Burkina Faso holds the remaining 10%. Orezone expects its Bomboré gold mine to produce between 110,000 and 125,000 ounces (over 3 tons) this year. The Canadian firm disclosed the forecast on March 27 in its...

Africa could become the world’s biggest graphite supplier by 2026, surpassing China. According to Benchmark Mineral Intelligence, which made the forecast, most of the continent’s output by 2026 would come from Mozambique and Madagascar. Tanzania is also expected to hold a major role. Black Rock Mining raised AU$10 million (US$6.5 million) to finalize preparations for the development of...

The Africa Finance Corporation (AFC), in a statement released on Tuesday announced the closure of a record-breaking syndicated loan amounting to $1.16 billion, sourced from a variety of banks across Asia, the Middle East, and Europe. Initially set at $1 billion, the loan experienced a 49% oversubscription, reflecting the international investors' confidence in AFC's creditworthiness and...

The report points out that the African continent as a whole has coped better than any other region in the world with the downturn in the venture capital market, which has been triggered by economic uncertainties and global geopolitical tensions. African-based investors accounted for 29.4% of all players in the venture capital industry who funded African startups in 2023. This represents a...

The increase in the total public debt of Africa's leading economy, Nigeria, mainly stems from the rise in domestic loans, which constitute 61% of the country's total public debt. As of December 31, 2023, Nigeria's public debt reached 97.341 trillion naira ($108.2 billion), marking a 5% increase from the same period in 2022, according to data released on March 22 by the Debt Management Office...

The BRICS bank, established in 2015 as an attempt to reshape the global financial landscape set by the Bretton Woods agreements, is eyeing to issue a total of $5 billion in loans in 2024. The New Development Bank (NDB), created by the BRICS group (Brazil, Russia, India, China, and South Africa), aims to support member countries as well as other emerging and developing economies, as stated by...

Accessing internet is now considered an essential need, just like electricity and clean water. Making it available and more accessible to a larger number of people should be a key development strategy for African nations. The marketing of devices from the satellite Internet service provider Starlink is currently banned in several African countries, including Côte d’Ivoire, Burkina Faso, the...

MTN has been reshaping its business model for several years. Last February, the company completed the sale of its Afghan subsidiary to Investcom AF, marking its final departure from the Middle East, except for Iran. In December 2023, MTN Group reached a deal with Telecel to sell its shares in its Guinea and Guinea-Bissau subsidiaries. The South African telecom company provided details about this...

Senegal held presidential elections yesterday, March 24, to elect its 5th president. While no official results have been announced, several trends published on social media suggest that opposition candidate Bassirou Diomaye Faye is in the lead. The people of Senegal are awaiting the outcomes of the presidential election held on Sunday, March 24, 2024. According to various observers, the election...