Côte d'Ivoire plans to spend $11.7 billion on servicing domestic debt between 2024 and 2026, according to official data consulted by Ecofin Agency. This amount, covering principal, interest, and other fees, surpasses the cost of repaying external debt and accounts for around 60.6% of the country's total debt service of $19.7 billion over the same period. Most of this domestic debt is...

The latest report from the International Telecommunication Union (ITU) reveals significant progress in ICT development among the 47 African countries studied, though substantial disparities remain. Libya, Morocco, and the Seychelles top the list for the highest ICT development levels in Africa, according to the "Measuring Digital Development – ICT Development Index 2024" report released at the...

Guaranty Trust Holding, a Nigerian banking group, announced yesterday that it plans to raise $246.2 million through a share sale to meet new minimum capital requirements set by the Central Bank of Nigeria. The announcement was made via a notice on the Lagos Stock Exchange website. The capital increase will be conducted through the sale of 9 billion new shares at 44.50 naira each, with the...

GEL Utility Limited, an operating asset developed and managed by Genesis Energy Group proudly commemorates a decade of innovation as it celebrates its uninterrupted Clean Power Production in partnership with the Nigerian National Petroleum Corporation (NNPC) in generating and distribution 84 Megawatts “MW” of power to the Port Harcourt Refinery Complex (PHRC). This major milestone of...

South Africa has witnessed an increase in the frequency of extreme weather events in recent years, exacerbated by the cyclical meteorological phenomenon El Niño. The country plans to launch a climate change response fund during the current fiscal year ending on March 31, 2025. Announcement was made Monday by Environment Minister Dion George. Initially proposed by President Cyril Ramaphosa in...

Botswana's economic growth is projected to slow to 1% in 2024, down from 2.7% in 2023, the International Monetary Fund (IMF) reports following a two-week mission to Gaborone. In a statement released on July 12, the IMF attributed the decline to a reduction in diamond production, which will be partly offset by construction projects funded through fiscal expansion. Botswana relies heavily on...

Nigeria's Securities and Exchange Commission (SEC) has announced new measures to oversee the cryptocurrency sector to combat financial crime. This move addresses a growing market while posing challenges for millions of Nigerians seeking to protect themselves from accelerating price increases. Under the new regulations, Virtual Services Asset Services Providers (VASPs) must register with the SEC...

As of December 31, 2022, Mali had 25.8 million telephone service subscribers, according to official statistics. This telecom market is shared by three operators: the historic Sotelma (Moov Africa Malitel), Orange, and Telecel. Malian telecom operators invested CFA116.7 billion ($193.7 million) in 2022, marking a 24% increase from the CFA94.1 billion invested in 2021, as per data from the Malian...

The President of the African Development Bank Group Dr. Akinwumi Adesina has said the decision by Nigeria’s government to allow massive food importation risks destroying the country’s agriculture. This follows the announcement by Nigeria’s Minister for Agriculture Abubakar Kyari on July 10 that the Federal Government would suspend duties, tariffs, and taxes on the importation of maize,...

EMR Capital recently sold its 80% stake in the Lubambe copper mine. With Zambia looking to increase its copper production, new owner JCHX plans to inject $300 million into Lubambe. Chinese group JCHX plans to invest around $300 million to operate and extend the life of the Lubambe copper mine, in Zambia. This was announced on July 11 by Zambia's state-owned ZCCM-IH, confirming JCHX's...