Morocco's Procaneq, a mining subcontractor for the OCP group, will boost its green investments with a loan from the European Bank for Reconstruction and Development (EBRD).  On July 2, 2024, Procaneq signed a €13.6 million ($14.6 million) loan agreement with the EBRD to enhance its activities in the mining sector. We are supporting Procaneq with a €13.6 million loan to...

Last year, Gécamines, the DRC’s public mining company, announced a deal to sell its share of the copper produced at the Tenke Fungurume mine operated by China's CMOC. In 2023, this 20% share amounted to 280,297 tonnes. Gécamines, the state-owned mining company in the Democratic Republic of Congo (DRC), is currently negotiating with several firms to sell part of the output from the Tenke...

The ECOWAS Bank for Investment and Development (EBID) and the EU-Africa Chamber of Commerce (EUACC) have signed a Memorandum of Understanding (MOU) aimed primarily at resource mobilisation, project financing and technical cooperation for the benefit of ECOWAS Member States. The MOU, which was signed on June 28, 2024, at the 36th Annual Session of the Crans Montana Forum, held in Brussels,...

Loan and investment guarantees act as a powerful catalyst in mobilizing essential capital to stimulate economic growth and improve public services in developing countries. The World Bank Group announced on July 1 the launch of a new centralized loan and investment guarantee platform to enhance financing mobilization for developing countries and high-risk projects. "Starting today, the World...

The World Bank's 14th economic analysis of Côte d’Ivoire highlights the challenges and opportunities tied to the country’s climate ambitions. Despite robust growth, Abidjan struggles to secure the necessary financing for its climate actions. In its report released on June 28, the World Bank assesses the state of climate financing in Côte d'Ivoire. Although the country has shown significant...

The Digital Inclusion Acceleration Program will be implemented in several phases over eight years. Angola, the Democratic Republic of Congo and Malawi, countries where broadband access remains below 50%, are involved in the first phase. The World Bank has announced a significant investment of $2.48 billion to boost digital inclusion for 180 million people across East and Southern Africa by...

The Ministry of Mines, Petroleum and Energy of the Republic of Côte d'Ivoire is pleased to announce the first edition of the International Extractive and Energy Resources Exhibition (SIREXE), approved by the Council of Ministers on 17 April. Under the theme "Sustainable development of extractive and energy industries: what policies and strategies?", SIREXE 2024 will be held from 27 November to 2...

Guinea and Mali have agreed to interconnect their respective fiber optic networks, aiming to bolster their national infrastructures. Currently, Guinea relies on a single international submarine fiber optic cable for its connectivity, while landlocked Mali depends on connections with its coastal neighbors for international access. The agreement, signed between Guinea's National Backbone...

The West African Development Bank (BOAD) has greenlit several financing initiatives totaling CFA25 billion ($40.82 million), aimed at bolstering the operational and financial capacities of institutions focused on green infrastructure and small and medium enterprises (SMEs). The approvals came during the board meeting on Thursday, June 27, 2024. The first decision involves a refinancing line of...

Niger is grappling with acute food insecurity affecting over 3.4 million people, according to the World Bank. To address this crisis, the institution has announced a funding package aimed at providing sustainable solutions to the country's agricultural and climate challenges. The World Bank unveiled last week a $1 billion 12-year support program for Niger's agriculture and livestock...