Managem took over several West African gold projects previously owned by the Canadian company Iamgold. The Senala project in Senegal is one of them. The project could make Managem one of the country’s top gold producers. The Senegalese government has renewed the exploration license for the Senala gold project until February 17, 2027. Oriole Resources, the British firm that co-owns the project...

Five years after the announcement by Alassane Ouattara and Emmanuel Macron of the end of the CFA franc and its planned replacement with the Eco, progress on these reforms has stalled. While some activists accuse France of undermining African governments' efforts, the French government insists it has done its part in the transition. In an interview with French media outlets RFI and France 24,...

Verod-Kepple Africa Partners announced the successful closing of its inaugural investment fund, Verod-Kepple Africa Ventures (Vkav), on April 9. The company said it has secured commitments totaling $60 million from a consortium of investors, predominantly from Japan, to finance African businesses experiencing growth phases. Launched in 2022, the fund will initially focus on companies...

Africa Finance Corporation (AFC) announced this week a significant 17.3% increase in its assets in 2023, reaching $12.34 billion. This milestone not only reflects the corporation's robust financial health but also surpasses the targets set by its five-year growth strategy by $2.3 billion. In a press release, the AFC, known for its focus on financing infrastructure projects across...

Economic growth in the African region behind the Sahara should reach 3.4% this year, according to estimates in the World Bank's latest Africa's Pulse report, published on April 8. Despite the predicted rebound, the institution warns of persistent inequalities and the need for transformative policies to encourage stronger and more equitable growth across the region. According to the World Bank,...

Fortuna Silver Mines aims to produce between 343,000 and 385,000 ounces of gold this year. More than half of this output should come from its operations in West Africa: Séguéla mines in Côte d'Ivoire and the Yaramoko mines in Burkina Faso. On April 8th, Fortuna Silver Mines reported gold production of 89,678 ounces in the first quarter of 2024, marking a 49% year-on-year increase. The...

Perseus Mining, which owns two gold mines in Côte d'Ivoire, one in Ghana, and a gold project in Sudan, has been trying to take over OreCorp for several months. Achieving this goal would allow Perseus to secure the Nyanzaga project in Tanzania. This mine can produce more than 70 tonnes of gold. Australian mining company Perseus Mining announced on April 8 that it has acquired 51.03% of another...

In 2022, Senegal’s industrial mines produced 15 tons of gold. With this output, it is far from rivaling with Mali or Côte d’Ivoire. However, several investments in exploration could soon push the country among West Africa’s top gold producers. Cora Gold will soon start a 2,000 m Reverse Circulation (RC) drilling program in Senegal. The British firm announced the news on April 8, 2024,...

Mobile internet subscriptions in Congo have surged by 61% over the last five years, climbing from 2.1 million in 2019 to 3.4 million in 2023, according to the Postal and Electronic Communications Regulatory Authority (ARPCE). The regulatory body, however, did not specify whether this figure represents unique subscribers or the number of SIM cards accessing the service. This substantial increase...

Côte d'Ivoire reached a staff-level agreement with the IMF over the disbursement of $574 million to advance the country’s economic programs. This announcement came on Monday, April 8, following the visit of an IMF team to Abidjan. Led by Mr. Olaf Unteroberdoerster, the visit was intended to assess the advancements made under the economic program rolled out by the government. This...