Companies listed on the Abidjan-based Bourse Régionale des Valeurs Mobilières (BRVM) have announced dividends totaling CFA613.16 billion ($1 billion) for the 2023 fiscal year. This represents the highest shareholder payout in the past four years, according to calculations by Ecofin Agency, based on data compiled by the platform Richebourse. This record dividend level reflects a broader trend...

In 2022, ATC disconnected power from several towers of internet service providers Busy Ghana and Surfline due to non-compliance with long-term financial obligations, hastening Surfline's shutdown. Telecom infrastructure provider ATC Ghana has now cut off electricity to some Telecel telecom towers nationwide, according to a statement released to the local press on July 4. Telecel has been accused...

The Senegalese government has launched an initiative to modernize its public services, necessitating an update in the skills of state workers. On July 1, Senegal’s Cheikh Hamidou Kane Digital University (UN-CHK) and the Ministry of Public Service and Public Sector Reform (MFPRSP) signed a partnership agreement to train state employees. Under this agreement, these employees will participate in...

Kobada, a key project in Mali, is set to increase the country's gold output in the coming years. Initially projected to deliver 1.2 million ounces over 16 years according to a 2021 study, recent exploration results suggest even higher potential As of July 2, Toubani Resources announced a 30% increase in indicated mineral resources at the Kobada gold project compared to the 2023 estimate. The...

First commissioned in 1924, the Kipushi mine has been on care and maintenance since 1993. Gécamines and Canada's Ivanhoe Mines announced plans to restart the mine in 2022, focusing on a major zinc deposit. On July 2, Ivanhoe Mines confirmed the restart of the Kipushi zinc-copper-lead-germanium mine, which it jointly owns with Gécamines in the DRC. This mine, inactive for 31 years, is expected...

Niger Telecoms has embarked on a national program to expand its network coverage, focusing particularly on rural areas. The state telecommunications company announced on July 1 the completion of 16 new telecom sites now operational in the Maradi region. "The current phase of the project involves deploying equipment, including the installation and configuration of transmission hardware and...

The downward trend in fundraising by African startups continues, though sectors like transportation, logistics, and fintech remain strong, with the "Big Four" maintaining their dominance on the continent. Data released on July 4, by the specialized platform thebigdeal.substack.com reveals that approximately $780 million flowed into African startups in the first half of 2024, marking a 57%...

In Burkina Faso, where insecurity heightens the risk of food scarcity, the government has decided to bolster one of its key food stock management structures. The government has approved increasing the capital of the National Food Security Stock Management Company (SONAGESS) to CFA1 billion ($1.6 million), five times its initial capital of $329,250. This announcement was made during the...

Ethiopia is negotiating a $10.5 billion loan with the International Monetary Fund (IMF) and the World Bank, Prime Minister Abiy Ahmed announced on Thursday, July 4, 2024. This agreement is crucial for the country's debt restructuring efforts, with Ethiopia's external debt standing at $28.5 billion at the end of 2023. “We have been negotiating with the IMF and the World Bank on a wide...

Burkina Faso is set to have a new active gold mine next year, the Kiaka mine. The project’s owner, West African Resources, recently upscaled its expected output for the mine. A new gold mine in Burkina Faso, with an annual production capacity of 234,000 ounces, will start operations in the third quarter of 2025. West African Resources confirmed that its Kiaka mine (currently 50% developed),...