Mali successfully raised CFA22.6 billion ($38.2 million) in a bond auction on September 4 after seeking CFA25 billion. The total bids reached CFA26.24 billion. With a 104.96% coverage rate for its 364-day Treasury bills (BAT) and 90.62% for its three-year Treasury bonds (OAT), Mali seems to be regaining investor confidence after mixed previous results. However, the reality is more...

The International Solar Alliance (ISA) plans to launch a $100 million guarantee fund to boost solar energy solutions in Africa. According to The Economic Times, the fund aims to mobilize up to $1.5 billion in financing to speed up the deployment of decentralized solar systems in African countries with high solar potential. Ajay Mathur, the ISA’s Director-General, said “We are...

Investment in AI and technology can spur economic development by creating new industries and job opportunities. It can attract further investment and partnerships, enhancing the region’s economic prospects. Google has partnered with Zambia to set up an Artificial Intelligence (AI) Center of Excellence at the University of Zambia (UNZA), the Zambian Ministry of Technology and Science announced...

Over the past three years, the electronic money sector in the WAEMU region has seen explosive growth. Between 2021 and 2023, the value of electronic money transactions surged by 288%, rising from CFA44.2 trillion to CFA171.9 trillion. In 2023 alone, it grew by 146%. Transactions themselves doubled, reaching CFA8.78 trillion. The number of service points locations where people can deposit or...

On September 3, the United States announced $40 million in aid to combat food insecurity and improve resilience in Africa. The funding, provided through USAID, will primarily go toward projects in Tanzania, Madagascar, Malawi, Zambia, Mozambique, and the Democratic Republic of Congo (DRC). This financial support will help farmers adapt to extreme weather by using improved crop varieties and...

In March, Telkom announced a deal to sell Swiftnet to a consortium led by British investor Actis. The transaction has now received approval from South Africa’s Competition Tribunal. Telkom, South Africa's telecom company, has moved forward with selling its telecom tower subsidiary, Swiftnet, to a consortium led by British investor Actis. The deal, valued at 6.75 billion rand ($377.9 million),...

In 2023, China was Nigeria’s top supplier, holding 18.4% of the market with $10.2 billion in exports, according to the French Treasury. During their meeting in Beijing on September 3, Nigerian President Bola Ahmed Tinubu and Chinese President Xi Jinping oversaw the signing of several cooperation agreements on the sidelines of the Forum on China-Africa Cooperation (FOCAC). These...

Many countries are looking to diversify their graphite suppliers, amid China’s restrictions on its supply chain. South Korea is part of this group and it is ramping up efforts to boost cooperation with African producers.  South Korea's POSCO sealed, on Sept.3, a $40 million deal with Australia’s Black Rock Mining to invest in Tanzania’s Mahenge graphite project.  Under the...

Mali’s new mining code, adopted in 2023, enables the government to earn CFA500 billion more from the mining sector yearly. This code, however, is yet to be applied to the country’s active gold mines.  The Malian government and Allied Gold, a Canadian company, have agreed in principle (AIP) to renew the firm’s operating permit for its Sadiola gold mine for 10 more years. This AIP or...

To overcome the significant digital divide in many African countries, governments are stepping up international partnerships. The financial support or trade agreements obtained are being used to strengthen various areas to improve connectivity and technology access across the continent.  The President of the Republic of Sierra Leone, Julius Maada Bio, has announced the signing of two...