Two years ago, Glencore agreed it was involved in several corruption cases related to oil contracts in Cameroon, Nigeria, and Côte d'Ivoire. However, the Swiss company was still facing prosecution in Switzerland for corruption in the mining sector in the Democratic Republic of Congo (DRC). After a four-year investigation, Swiss authorities have decided to drop the corruption charges against...

Endeavour Mining has started production at its second gold mine in Côte d'Ivoire, Lafigué, which opened at the end of June. Together with its first mine in the country, Ity, these mines are expected to help the company produce between 1.13 and 1.27 million ounces in 2024 from its West African operations. On July 30, Endeavour released its operating and financial results for the first half of...

The Democratic Republic of Congo (DRC) produced 33,558 tonnes of cassiterite or tin ore in 20233. Alphamin is the country's main industrial tin producer, but other companies are also looking for new viable deposits. Rome Resources has started drilling at its Kalayi prospect in the DRC. Kalayi is part of the company’s Bisie project in North Kivu. Rome Resources announced the drilling on August...

Nigerian banking leaders are split over a new 50% tax (70% according to recent reports) on superprofits from foreign exchange gains, passed by Parliament on July 23, 2024. The measure, supported by some influential figures, has created a rift in the country’s financial industry. According to local media, Tony Elumelu, chairman of United Bank for Africa (UBA), expressed support for the...

The governments of Côte d'Ivoire and Senegal have strengthened their economic ties with the signing of twelve new cooperation agreements. The deals were inked during the 10th session of their joint commission held in Abidjan on Monday, August 1, 2024. According to a statement from the Ivorian government, these agreements cover various strategic sectors such as agriculture, trade, mining,...

Fortis Green Renewables Investment Management, a renewable energy investment firm currently investing out of its Green Fund I, and AXIAN Energy, a division of the Pan-African Group AXIAN, are pleased to announce the acquisition of stakes in Gigawatt Global Rwanda Ltd (Gigawatt Rwanda), a solar power plant located in Rwanda, on the grounds of the Agahozo-Shalom Youth Village in Rwamagana. As part...

The unmissable annual event that brings together producers, broadcasters, platforms, and telecom operators, MIP AFRICA, will take place this year from September 2 to 4, 2024, in Johannesburg. MEDIAWAN AFRICA (Côte Ouest, Keewu Production) will be present with the ambition to expand its presence and showcase the diversity of its activities and the strength of its partnerships. Côte Ouest will...

The Republic of Djibouti welcomes the decision of the United States Court of Appeals for the District of Columbia Circuit, which on July 30, 2024, overturned the judgment issued on February 17, 2023, by a United States federal district court. This particularly significant decision comes in the context of the dispute between the Republic of Djibouti and the Emirati operator DP World concerning...

The Board of Directors of the African Development Bank Group has approved a loan of $500 million to the Federal Republic of Nigeria, to finance the first phase of the Economic Governance and Energy Transition Support Program (EGET-SP), a new program aimed at accelerating transformation of the country’s electricity infrastructure and improving access to cleaner sources of energy. The loan...

The transaction's financial terms have not been disclosed, but the combined balance sheet of the involved activities amounted to CFA376 billion at the end of 2023. This move would strengthen Benin's dominant position in the country's banking sector. The Republic of Benin has signed an agreement to acquire all shares directly and indirectly held by French banking group Société Générale in its...