Burkina Faso invested about $1 billion (over CFA600 billion) in military equipment in 2023, accounting for 30% of the state budget. This significant expenditure comes amid a prolonged security and humanitarian crisis fueled by terrorist attacks, placing substantial pressure on public finances. The country's budget deficit reached 6.7% in 2023 due to security-related expenses. Minister of...

The Government of the Republic of Djibouti has taken note with dismay of the "Container Port Performance Index 2023" report published on Wednesday, June 5, by the World Bank in partnership with the private company S&P (Standard and Poor’s). According to this report, the Port of Djibouti has dropped from the 26th position worldwide in 2022 to the 379th position in 2023. This decline of over 350...

The independent sanction mechanisms put in place by the African Development Bank (AfDB) to improve its governance, control and accountability are effective but still face major challenges. Such was the opinion expressed on Tuesday, 28 May 2024 in Nairobi by the judges who sit on various sanction mechanisms at the Bank. Justice Epuli Mathias Aloh, Chairman of AfDB Group’s Administrative...

Niger has approved the assessment and management plans for radiation levels at the future Madaouela uranium mine, a crucial step to commence operations at the site. This will enable Niger to increase its production of nuclear fuel. GoviEx Uranium, the mining company behind the project, has obtained a certificate from the Nigerien government validating the radiological baseline studies carried...

A few years ago, B2Gold sold two gold assets to Australia's West African Resources, including the future Kiaka gold mine. The Canadian company had nevertheless retained mining royalties on the assets until then. B2Gold, a Canadian mining company, has sold its royalties on two gold projects in Burkina Faso to Sandbox Royalties. B2Gold disclosed the sale on June 7, stressing that the projects are...

In Senegal, the education system is grappling with numerous challenges that hinder the country's ability to produce the human resources necessary for its development. Recognizing this, the new authorities are considering a comprehensive reform. President Diomaye Faye has instructed the government to conduct an evaluation of the education system. He made this directive during a Cabinet meeting at...

Benin's special prosecutor Mario Metonou announced on Thursday the arrest of five Nigerien nationals within Benin's borders. According to Metonou, the individuals allegedly entered the WAPCO-Benin terminal site through unauthorized means, claiming to be employees of WAPCO-Niger using counterfeit badges. "These individuals chose a back entrance instead of the main gate, and justified their...

African nations grappling with substantial financial losses from tax evasion and other illicit financial flows have ramped up their efforts in tax information requests. In 2023, African countries significantly bolstered their capacities to mobilize national revenues through information exchanges for tax purposes. According to the latest report from the Africa Initiative on Transparency in...

The African Development Bank and technology giant Intel have formalized their cooperation to transform the African digital ecosystem. The partnership aims to equip 3 million Africans and 30,000 government officials with AI skills. Sealed at the recent African Development Bank’s Annual Meetings in Nairobi, Kenya, the deal will help create a critical mass of Africans proficient in Fourth...

Copper prices have reached a new all-time high, exceeding $11,000 per tonne in May 2024. However, analysts at Trafigura, a leading commodity trader, believe that the current rally is not justified by market fundamentals. Trafigura said the current supply and demand fundamentals do not justify the recent surge in copper prices. According to the company's analysts, quoted by Bloomberg, the...