Creative and cultural industries have the potential to be a key driver of economic growth in Africa. According to UNCTAD, this sector generated $4 billion on the continent in 2022, showcasing its significant impact. The opportunities for further development in this area are immense. The African Export-Import Bank (Afreximbank) announced on October 18 that it will double funding for its...

Senegal serves as a key transit hub for migrants heading to Europe. In 2023, nearly 12,833 migrants reached Spain, with 9,319 identifying as Senegalese nationals, according to Senegal's Ministry of Foreign Affairs. European Commissioner for International Partnerships, Jutta Urpilainen, announced the disbursement of €30 million (about $32.5 million) to help Senegal combat irregular...

Mali plans to repay about $1.015 billion in domestic debt under its 2024 budget plan. The Malian government is set to raise nearly CFA200 billion ($331.3 million) by the end of 2024 to reduce domestic debt. This was announced by Alousséni Sanou, Mali’s Minister of Economy and Finance, during a meeting with business leaders on October 18. The session was broadcast on the public TV channel...

This initiative is one of the outcomes of the national economic reform program launched by Prime Minister Abiy Ahmed in 2018, with support from the International Monetary Fund (IMF). Ethio Telecom, Ethiopia’s incumbent telecom operator, is opening 10% of its shares on the local stock exchange. The move involves 100 million ordinary shares priced at 300 birr each (about $2.51), with the...

Gide’s Casablanca, London and Brussels offices assisted the International Finance Corporation (IFC, part of the World Bank Group), FIPAR Holding (an investment firm owned by the Caisse de Dépôt et de Gestion of Morocco) and CDG Invest Growth (through its fund Capmezzanine III) on their investment in Retail Holding, a leading food and consumer goods retailer with operations in Morocco,...

Gide advised Somdia, a subsidiary of the French group Castel, on the sale of its wheat flour production units in Cameroon and Congo to the Cameroonian group Cadyst, headed by Célestin Tawamba. Completion of this transaction is subject to the usual conditions precedent and the approval of the relevant authorities. The Gide team comprised Julien David and Nadège Nguyen, partners, Arthur...

The implementation of the EU Deforestation Regulation (EUDR) has the potential to significantly impact cocoa production in West Africa. With the European Union demanding deforestation-free and traceable cocoa, the stakes for the region's cocoa supply chains have never been higher. Implementing this regulation is not merely about compliance—it is about collectively finding solutions...

The price of gold has increased by 30% since the start of the year, benefiting Burkina Faso, where gold constitutes 77% of exports, 16% of GDP, and 22% of government revenue, according to the World Bank. Canadian Orezone Gold reported a 23% rise in revenues for the third quarter of 2024, year-on-year, despite lower production and sales. The company, which runs the Bomboré gold mine in Burkina...

Côte d'Ivoire's gold potential is estimated at 600 tonnes. The country is looking for new viable deposits to bolster its gold production, which hit 51 tonnes in 2023. During the Council of Ministers meeting on October 16, the Ivorian government issued four decrees granting mining exploration permits: three for gold and one for lithium. The gold licenses were awarded to Smart Mineral Explorer...

Last month, AngloGold Ashanti sealed a $2.5 billion deal to acquire Centamin. The move will give the South African company control of Egypt's largest gold mine, which can produce up to 500,000 ounces yearly. AngloGold Ashanti and Centamin have received approval from the Egyptian competition authority for merging. With this regulatory approval, AngloGold is on track to finalize the deal by...