With Ghana’s presidential election on December 7, 2024, fast approaching, the race is set to be intense. The country’s struggling economy is at the heart of the battle between the top political parties. On August 24, 2024, the National Democratic Congress (NDC), the main opposition party in Ghana, unveiled a plan to inject $10 billion into the economy if they win the election. Cassiel...

Madagascar is set to implement a new mining code adopted in 2023. The code is expected to boost several mining projects in the country, including the long-delayed Toliara project. Base Resources, the company behind the Toliara project, announced on August 26 that it has reached a preliminary agreement with the Malagasy government regarding the extraction of mineral sands. A binding contract is...

Agence Sénégalaise de Presse (APS) reported that several major multinational companies operating in various sectors in Senegal have signed agreements with the state, some of which date back several years. Senegal is looking to re-examine its contracts with various partners in strategic sectors. To this end, Prime Minister Ousmane Sonko has established a commission to "defend the country's...

Mali, Burkina Faso, and Niger have urged the United Nations Security Council to take action against Ukraine, accusing it of supporting terrorist groups involved in a deadly July ambush against Malian and Russian troops. This call to action follows a statement by Andriy Yusov, a spokesperson for Ukraine's military intelligence agency, who claimed that Kyiv had provided information to Malian rebels...

In the first half of 2024, Algeria’s telecom company Optimum Telecom Algérie, commonly known as Djezzy, reported a revenue of 54.4 billion Algerian dinars (about $405.8 million). This marks a 9.4% increase compared to the 49.7 billion dinars generated during the same period in 2023. This impressive growth was fueled by a significant investment of 14.6 billion dinars, focused on improving...

Local and international private equity players invested $900 million in African companies during the first half of 2024, the African Private Equity and Venture Capital Association (AVCA) reported. This amount marks a 66% decrease compared to the same period in 2023. However, West Africa saw a 3% increase in investments. From January 1 to June 30, 2024, there were 182 transactions across the...

Mali’s Treasury raised CFA8.13 billion (about $12.4 million) in a bond auction on Wednesday, August 21, 2024. The auction, managed by UMOA-Titres, attracted varied investor interest depending on the bond maturities. This auction is part of Mali’s efforts to address budgetary pressures driven by a complex political and security situation, coupled with a challenging global economic...

Nigerian President Bola Tinubu has signed an official order making it a criminal offense to damage telecommunications infrastructure in the country. The announcement was made on August 21 by Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, through a post on X. The new measure criminalizes intentional damage to assets such as telecom towers, switching stations, data...

South African mobile operator Vodacom announced a total of $400 billion in financial transactions via its services for the 12 months ending in June 2024. This figure includes transactions across its network in South Africa and its subsidiaries in Egypt, Mozambique, Tanzania, Lesotho, and the Democratic Republic of the Congo (DRC), which had 46.6 million users by the end of the period. In...

Until now, the main tin miners in the Democratic Republic of the Congo (DRC) were Alphamin Resources and artisanal miners. However, the country is about to welcome a new player, Rome Resources. Rome Resources steadily moves in the DRC’s tin industry. On August 20, the company announced the initial results from its drilling program launched earlier this month at the Bisie North project in North...