The International Monetary Fund (IMF) has estimated that Côte d'Ivoire's financing needs to combat the impacts of climate change amount to $22 billion over eight years starting from 2022. This information stems from a report released by the institution on April 22. According to the IMF, these requirements are divided into two categories: $12 billion for implementing adaptation...

Mobile financial services have emerged as a vital tool for enhancing financial inclusion in Africa, especially among populations with limited access to traditional banking. In DRC, the mobile money market is operated by major telecom operators like Vodacom, Orange, Africell, and Airtel. Subscriptions to mobile financial services in DR Congo surged from 6.59 million in the third quarter of 2020...

African leaders gathered last April 22 and 23 in Audja, Nigeria, to address the escalating challenges posed by terrorism across the continent, spotlighting the Sahel and Somalia as epicenters of violence. The event themed “Strengthening Regional Cooperation and Institution Building to Address the Evolving Threat of Terrorism in Africa” served as a platform to assess current hurdles and...

The adoption of electronic communication services is booming in Africa, driven by high demand and constant shifts in digital service consumption habits among the population. As of December 31, 2023, Benin had 8.5 million unique subscribers to mobile telephony services, with 16.3 million SIM cards in circulation, as reported by the Regulatory Authority for Electronic Communications and Postal...

Collectively, the three AES countries will have a combined GDP of $62.3 billion. Burkina Faso will lead the way, overtaking its neighbor Mali, according to the IMF. Ouagadougou will nevertheless lag far behind the region's leading economy, Côte d'Ivoire, which will post a GDP of $86.9 billion this year. The International Monetary Fund (IMF) forecasts Burkina Faso to become the...

Benin received a credit rating boost from Standard and Poor's (S&P) after its successful issuance of $750 million in international bonds in February, signaling growing confidence from global investors. S&P upgraded Benin's credit rating from "B+" to "BB-" with a "stable" outlook, according to an April 22 statement from the Beninese government. With this rating upgrade, the U.S. agency...

Chinese imports from the African continent surged by 8% during the first quarter of 2024, totaling $29.42 billion, according to data released on April 20 by the Chinese General Administration of Customs. This increase is mainly attributed to the rise in imports of minerals, particularly metals used in the production of electric vehicle batteries and gold. It has also been driven by the...

Central Africa boasts one of the world's most significant mineral resource potentials, attracting many multinational corporations due to its rich deposits.  The CEMAC's average annual economic growth rate is projected to reach 3.6% in 2024, the highest in a decade. According to the BEAC, which made the forecast, this growth is expected to increase slightly to 3.7% between 2025 and 2027,...

Following an evaluation conducted in April 2023, Côte d'Ivoire achieved a score of 80.5 out of 100 in its implementation of the Extractive Industries Transparency Initiative Standard. This score highlights areas where the country can further improve its management of extractive resources. This week, the Ivorian government approved a decree establishing the National Council for Extractive...

The net profit of BCEAO has surged due to a substantial increase in revenues from commercial banks refinancing. Yet, this success masks a liquidity decline within the UEMOA banking sector, although currently managed. The central bank of WAEMU countries –BCEAO- grapples with complex decisions in managing commercial banks' refinancing demands. Compared to 2022, this activity significantly...