Mali wants to boost its mining revenues, especially from gold, by leveraging its new mining code adopted in 2023. The code, however, poses issues for mining companies currently operating or planning to establish mines in the country. Toubani Resources is in talks with the government to finalize a mining convention for its Kobada gold project. According to a document released on September 9 for...

The Democratic Republic of Congo (DRC) was the world's second-largest copper producer in 2023. To keep this position this year, the country plans to rely on all its operational mines, including those owned by Eurasian Resources Group (ERG). ERG, which is 40% owned by the Kazakh State and operates in cobalt and copper in the DRC, has signed a $150 million pre-export financing agreement with...

Starlink entered the African internet market in Nigeria at the end of January 2023. Since then, the satellite internet provider, a subsidiary of Elon Musk's SpaceX, has expanded to about ten other countries, including Rwanda, Kenya, Benin, Zambia, Madagascar, South Sudan, Sierra Leone, Ghana, and Botswana. On September 7, 2024, Starlink announced it has begun operations in Zimbabwe, marking its...

Nigeria has significant mineral reserves valued at $700 billion, including iron ore, but the mining sector contributes less than 1% to the country's GDP.  Chart & Capstone Integrated Limited, a Nigerian firm, has partnered with China's Sinomach-He to develop an iron ore mining and steel mill. They signed a $1 billion memorandum of understanding, presented to Mines Minister Dele...

On September 7, Senegal’s Prime Minister Ousmane Sonko revived a proposal to create a bank dedicated to the Senegalese diaspora. This initiative aims to channel the significant funds sent home by Senegalese living abroad into impactful and sustainable projects. The diaspora sends over $2.9 billion annually to Senegal, representing about 12% of the country’s GDP. This amount surpasses...

A year has passed since a devastating earthquake hit central Morocco, killing nearly 3,000 people, injuring 5,500, and destroying around 60,000 homes. In response to the tragedy, the Moroccan government, led by King Mohammed VI, acted quickly. A large reconstruction plan was launched, aimed at providing new homes for the victims and restoring the damaged infrastructure. Today, the rebuilding...

The Algerian government is preparing to renew the satellite telecom licenses for Algeria Telecom Satellite (ATS) and Optimum Telecom Algeria (Djezzy). These licenses, originally signed on September 21, 2019, are set to expire on September 21 this year, after five years of validity. On September 4, the government reviewed two executive decree projects to renew these licenses. The goal is to...

The number of Mobile Money accounts in Africa jumped from 562 million in 2020 to 856 million in 2023, reflecting a 52% growth, according to a report by the GSMA, titled "State of the Industry Report on Mobile Money." This report examines the global growth of Mobile Money services. Active accounts, defined as those used within 30 days, also increased by 47%, from 161 million in 2020 to 237...

Mali has signed several agreements with Chinese companies, signaling the start of a new "strategic partnership" between the two nations. This was announced during the 9th Forum on China-Africa Cooperation, with Chinese President Xi Jinping meeting Malian President Assimi Goïta on September 2. "I propose raising Sino-Malian relations to a strategic partnership to continue building on our...

The Douta project, owned 70% by Canada’s Thor Explorations, is a key asset for Senegal's long-term gold production plans. The project contains 1.78 million ounces (over 50 tonnes) of gold, and the company is working to increase this estimate. This year, Thor Explorations identified several high-grade gold deposits at the Makosa East prospect within the Douta project. In a press release dated...