Report Calls for Exemptions on Small Transactions in Mobile Money Taxation Across Africa A new report highlights that while taxing mobile money services in Africa could increase government revenue, it may negatively impact the poorest households if small transactions are not exempted. A report released on July 25 by the Institute of Development Studies, a think tank associated with the...

With the growing economic and financial challenges, West African governments are emerging as key players, not just as regulators but also as strategic shareholders. This trend could reshape the banking landscape in West Africa in the coming years. Over the past five years, the governments of the West African Economic and Monetary Union (WAEMU) have significantly increased their stakes in credit...

From 1996 to 2023, the Senegalese government invested over $1.3 billion in its potable water supply system, focusing on the urban areas within the Dakar-Mbour-Thiès triangle. During an interministerial council meeting on water supply, the Senegalese government adopted several reforms that require more than CFA1,627 billion ($2.74 billion) in funding. This announcement was made in a...

Cocoa is one of Cameroon’s main agricultural exports to Europe. With the European Union’s new deforestation law approaching, those involved in the cocoa sector are taking steps to adapt. Cameroon’s Ministry of Commerce announced the signing on August 28 of an agreement to share geolocation data for cocoa and coffee farms. The deal was signed by the Cameroon Cocoa and Coffee...

In Senegal, artisanal gold mining produces several tonnes of gold each year and provides thousands of jobs. Concentrated in the Kédougou region along the Falémé River, this activity has significant environmental and health impacts. Senegalese authorities have banned mining along the Falélmé River until June 30, 2027. Disclosed on August 27, the move aims to protect the river from pollution...

Sumitomo, a Japanese company, operates Madagascar's largest nickel mine in partnership with a South Korean company. The mine failed to meet its production targets for fiscal 2023 due to malfunctions that the owners are working to resolve. On August 28, Sumitomo filed a restructuring plan with a British court for its Ambatovy nickel mine in Madagascar. This is part of the company's efforts to...

Africa's third-largest gold producer, Mali, keeps taking steps to directly benefit from its mineral resources. In 2022, the government created a new national mining company, and this year the firm has already acquired a gold mine and continues to strengthen its portfolio. The Malian government has granted a gold exploration permit to the Société de Recherche et d'Exploitation des Ressources...

Recent economic reforms in Guinea-Bissau have had a positive impact on the country’s outlook. Although the economy seems set to rebound, it still faces significant internal and external risks, according to the IMF. The IMF announced yesterday a disbursement of $7.3 million to Guinea-Bissau under the Extended Credit Facility (ECF) agreement. This funding will help meet the country’s...

Bayobab is continuing its expansion of the fiber network across Africa. The company aims to reach 135,000 km of its own fiber optic network across the continent by 2025. As of December 2023, it had already achieved 114,000 km. Bayobab, the digital subsidiary of South Africa's MTN Group, announced this week the completion of a new fiber optic route in East Africa worth about $13 million....

Oragroup is shifting its strategy after running into difficulties with its planned acquisition by Vista Bank. The bank is now focusing on stabilizing its financial situation through recapitalization, following a downgrade by Fitch to a "CCC-" rating. Alongside this, Vincent Le Guennou is stepping down from his role as chairman of the board. Last week, Oragroup decided to reassess its approach...