The European Union (EU) has committed to providing humanitarian aid amounting to €171 million ($185.2 million) to support the populations in the Horn of Africa, as per a statement released by the European Commission on Tuesday, February 27. This financial assistance is aimed particularly at alleviating the severe food and nutritional crisis plaguing the region, enhancing access to basic...

The Chad government has urged citizens to maintain their regular activities following a violent attack on intelligence services in N'Djamena on the night of February 27 to 28, 2024. Amidst the unrest, the government is seeking to reassure the public, encouraging them to proceed with their daily lives. In response to the attack, whose perpetrators remain unidentified, a nationwide search has been...

Guinea has appointed economist and former minister Amadou Oury Bah, known for his commitment to dialog, as its new Prime Minister. Announced by decree from Transitional President General Mamadi Doumbouya, Bah's appointment comes amid an indefinite general strike and the dissolution of the previous government. Since the general strike began on Monday, February 26, Guinea has been gripped by...

The Suez Canal Economic Zone (SCZone) in Egypt has attracted $4.6 billion in foreign investments over the last 18 months, from August 2022 to January 2024. This influx of capital into the special economic area, which is located near a vital maritime route handling 12% of global trade, was driven by a group of countries including China, Saudi Arabia, India, Turkey, Germany, and...

The project could cut Cimaf’s clinker import expenses, push the company’s annual cement output to a million tons, and create around 2,000 direct and indirect jobs. Cimaf Gabon is considering building a new clinker grinding unit in the Central African country. The facility could cost about $147.1 million to set up, according to the firm. The new clinker grinding facility should be built...

The Mana gold mine produced 142,000 ounces in 2023. This year, the mine’s owner, Endeavour, seeks to ramp up its output to 170,000 ounces. The Burkina Faso government holds 10% of the mine. Endeavour Mining temporarily halted underground operations at its Mana gold mine in Burkina Faso. The firm announced the news on February 28, a day after one of its subcontractors died due to injuries...

Spurred by the recent rise in uranium prices and long-term demand for the ore, mining firms are accelerating their projects worldwide. In January, the price of uranium passed $100, amidst concerns about supply in the medium term. Aura Energy now expects $2.25 billion in revenues from its Tiris uranium mine in Mauritania. The company disclosed the figure in a FEED study released on...

Sonatel Group, a leading telecommunications company operating in Senegal, Mali, Guinea, Guinea-Bissau, and Sierra Leone, has reported a consolidated net profit of CFA331.7 billion ($548.8 million) for FY 2023. This represents an increase of 19% compared to the CFA279 billion recorded in 2022. The company's consolidated revenue rose by 11.4%, reaching CFA1,620.7 billion. The notable financial...

Recent data analysis from the International Telecommunication Union (ITU) reveals that internet connectivity is on the rise across Africa, sparking hope and opening doors for digital inclusion. According to the ITU's "Facts and Figures 2023" report, 37% of the African population had internet access in 2023. Although this represents a slight decrease from the previous year's 40%, analysis by the...

The Fund for Export Development in Africa (FEDA), a subsidiary of the African Export-Import Bank (Afreximbank) dedicated to fostering development impact, is pleased to announce the Arab Republic of Egypt's accession to its Establishment Agreement. With Egypt's longstanding position as a founding shareholder and the host country of Afreximbank's headquarters, this recent development underscores...