The Board of Directors of the African Development Bank Group on 20 September 2024 approved a $129.71 million loan to Tanzania for the implementation of a youth-focused agribusiness program. The loan will fund the first phase of the “Building a Better Tomorrow: Youth Initiatives for Agribusiness” program, which aims to create business opportunities and jobs for young people in key...

The pan-African AXIAN Group – through its subsidiary AXIAN Investment – a leading supporter of African start-ups, has announced the acquisition of a stake in WiASSUR, an innovative insurance start-up based in Côte d'Ivoire. This marks a key milestone for AXIAN Group's expansion strategy in this sector. This acquisition, closed mid-July 2024, positions AXIAN as WiASSUR's second-largest...

The mobile industry has achieved 58% of its potential contribution to the 17 UN SDG goals, but further focus is needed to maximise potential. The mobile industry continues to play a crucial enabling role in advancing the UN Sustainable Development Goals (SDGs), but strong headwinds are limiting the pace of development, according to the GSMA’s annual report into the industry’s progress...

In Africa, Russia has previously partnered with Angola to launch a telecommunications satellite. The satellite entered orbit in October 2022, and commercial services started in late January 2023. Mali, Niger, and Burkina Faso are looking to develop a joint communication satellite with the Russian space agency ROSCOSMOS. The goal is to improve telecommunication services and more. Ministers from...

The Indian fintech, focused on developing APIs and Banking-as-a-Service solutions, aims to drive financial inclusion and foster innovation across the continent. Helios Investment Partners, a UK-based private equity firm focused on Africa, has invested $102 million in M2P Fintech to support its expansion strategy on the continent. The information was revealed in a statement issued Tuesday by...

Integrating technology into critical sectors is paving the way for more inclusive and resilient economies across the continent. By leveraging cutting-edge technologies, Africa is not only addressing its socio-economic challenges but also fostering long-term growth and environmental sustainability, aligning with global digital transformation goals. In partnership with ZTE Corporation, MTN South...

Zambia has faced significant tensions with mining investors between 2019 and 2021, resulting in blocked investments and a drop in copper production to 700,000 tonnes in 2023. With an ambitious goal of producing 3 million tonnes of copper by 2031, fostering a stable business environment is essential. On September 20, the Zambian government convened a working session with the Chamber of Mines to...

By 2035,  90% of the world's nickel supply will be unprotected by existing US free trade agreements, according to S&P Global. This scenario is prompting Washington to diversify its sources for nickel, an essential mineral for energy transition. The U.S. Development Finance Corporation (DFC) is ready to lend Tanzania cash to develop the Kabanga nickel project, which includes constructing a...

Botswana’s copper industry keeps growing, with two mines launched between 2021 and 2023. As copper becomes vital for the country's energy transition, investors are helping to diversify the local mining sector. On September 23, Australian mining junior company Cobre announced it signed a letter of intent with BHP to negotiate an exclusive joint venture on the Kitlanya West and East copper...

Cobalt prices in the Democratic Republic of the Congo (DRC) have fallen to their lowest level since 2016. The DRC is the world's largest cobalt producer, with 140,000 tonnes expected to be mined in 2023. An oversupply in the market has led to declining prices, impacting the country's revenues. Last week, cobalt prices dropped to between $10 and $11.80 per pound, according to...