The African Development Bank and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit's capital base and attract institutional investors’ resources to help close Nigeria's infrastructure financing gap. Lamin Barrow, Director General of the African Development Bank's Nigeria Country...

China is one of the main foreign investors active in Africa's mining sector. With a presence in several copper mines in the Democratic Republic of Congo and Zambia, Chinese companies constantly seek new assets, as competition mounts. Chinese firm JCHX Mining is on the verge of closing the purchase of the Lubambe copper mine in Zambia. This was reported by Reuters which noted that the Emirati...

Since the beginning of the year, Senegal has applied a reference price for phosphate exports. This floor price is used to calculate the mining royalty paid by producers. This breakthrough is the result of work carried out with the Intergovernmental Forum on Mining (IGF). Senegal has introduced a reference price for phosphate exports, which will be used to calculate the mining royalty paid by...

Africa's top lithium producer, Zimbabwe attracts more and more investors as the long-term outlook for the metal remains positive. Cluff Africa, a British company led by businessman Algy Cluff, has signed an agreement with Mutapa Investment Fund, Zimbabwe's sovereign wealth fund, to secure a 45% interest in the Sandawana lithium project. “We are pleased to have reached this pivotal point, from...

Central bank gold purchases have been a major driving force behind the recent burst in demand for gold worldwide, and subsequently price surge. Gold currently trades at over $2,300 an ounce. According to a recent World Gold Council survey, 29% of the Central Banks surveyed plan to expand their gold reserves within the next 12 months. This is the highest level ever since 2018 when the annual...

After the Central African Republic, Mozambique sought Rwanda's help in 2021 to restore security in a strategic province for exploiting natural gas reserves. These interventions, which position Kigali as a leading security actor on the continent, have sparked accusations of "economic predation." The European Union (EU) plans to discuss a new funding package of €40 million ($42.8 million)...

The Democratic Republic of Congo (DRC) has seen a remarkable increase in mobile internet adoption over the past few years, reflecting broader trends across African nations. In 2013, the DRC had just 1.4 million mobile internet subscribers among its population of 75.6 million. As of the third quarter of 2023, data from the Regulatory Authority for Post and Telecommunications of Congo (ARPTC)...

Facing rising interest rates and growing financing needs, WAEMU countries are increasingly adopting medium-term debt management strategies (MTDS) to balance costs and risks. UMOA-Titres, responsible for the main public securities market in the region, is enhancing the capacity of stakeholders to ensure healthy debt management. On June 11, 2024, UMOA-Titres held a webinar on the MTDS, led by...

Côte d'Ivoire's economy will continue to show resilience over the coming years despite regional and international shocks, President Alassane Ouattara said on Tuesday, June 18, 2024. He announced that his administration aims for an average annual economic growth of 7% by 2027 and plans to triple the country's oil production within the same period. “Côte d'Ivoire has shown remarkable economic...

Southern Africa remains the main driver of intra-African trade, accounting for 41.4% of all trade between the continent's countries over the past year. Intra-African trade increased by 7.2% in 2023, reaching $192 billion, according to a report released by the African Export-Import Bank (Afreximbank) on Wednesday, June 12, 2024. The report, titled "African Trade Report 2024: Climate...