After reaching a $5.4 billion bilateral debt restructuring agreement with its official creditors last January, Accra is now hoping to quickly secure a deal with its Eurobond holders. Ghana signed non-disclosure agreements (NDAs) with the holders of its Eurobonds, marking the start of formal negotiations on restructuring around $13 billion in debt, Reuters reported yesterday, citing...

The Ivorian government is taking significant steps to enhance the economic landscape, particularly focusing on SMEs, which are considered the backbone of the economy. In a recent announcement made by Yaya Ouattara, the Director-General of the Single Window for SME Development (GUDE-PME), the Ivorian government disclosed its ambitious plan to support 8,000 SMEs in 2024. The plan was revealed...

Mobile service subscriptions in Sub-Saharan Africa stood at 980 million in 2022, as per recent report by the GSMA. However, the actual number of unique mobile subscribers in the region is lower since some individuals own multiple SIM cards. According to a November 2023 report by Swedish technology company Ericsson, mobile subscriptions in Sub-Saharan Africa are projected to hit 1.1 billion by...

French industrial gas giant Air Liquide announced yesterday it has sold its operations in twelve Sub-Saharan African countries to the investment firm Adenia Partners. The announcement was made in a press release that did not disclose the financial details of the transaction. The countries involved in the deal include Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar,...

There has been no reaction from Niamey since Nigeria announced the reopening of its land borders with Niger. Following Benin's lead, Nigeria, another strategic trading partner of Niger, declared the reopening of its land borders with the country. This move comes alongside the immediate removal of other restrictions tied to the ECOWAS economic sanctions. The decision also lifts the flight ban to...

South Africa is about to make a significant leap in cryptocurrency regulation, marking a first not only for the country but for the entire African continent. According to Bloomberg, citing Unathi Kamlana, head of the country's Financial Sector Conduct Authority, about sixty cryptocurrency trading licenses are expected to be issued by the end of March 2024. This development comes at a time when...

Tirupati Graphite targets an output of 200,000 tonnes of graphite per year in Madagascar a few years from now. Though the company is very far from this number at the moment, it has been ramping up efforts to achieve its ambition. The two graphite Malagasy projects of Tirupati Graphite–Vatomina and Sahamamy–could soon see a "significant increase" in mineral resources. Shishir Poddar, the...

Ooredoo is accelerating its initiatives to upgrade its network infrastructure and ready it for the launch of 5G technology in its African markets, specifically Algeria and Tunisia. In March 2023, the company entered into a partnership agreement with Nokia. The Qatari telecom group, Ooredoo, has signed a partnership deal with Huawei to advance its network core to 5.5G in select markets, including...

Fortuna Silver Mines started mining gold at the Séguéla mine in Côte d’Ivoire in 2023, with exploitation forecast to last eight years minimum. Now, however, the mine's reserves could be increased through exploration, potentially extending Séguéla's lifespan. Fortuna Silver Mines announced on March 11 the discovery of a new prospect at its Séguéla gold mine in Côte d’Ivoire. The...

Uranium could sell for $150 per pound by 2025-2027, after nearing $106, according to Shaw and Partners. The positive outlook spurred a wave of new projects in Africa, attracting new companies. Moab Minerals has finalized an agreement to acquire an 81.85% stake in Linx Resources. The latter holds a portfolio of advanced uranium assets in Tanzania, including the Manyoni and Octavo...