In the Democratic Republic of Congo (DRC), a law passed in 2017 requires mining companies to employ local subcontracting firms whose majority stake is detained by Congolese nationals. One of the country's main producers of copper and cobalt, Eurasian Resources Group (ERG), is accused of not complying with this measure. The DRC government has suspended nine subcontractors working in the copper...

Zambia’s copper output stood at 680,000 t in 2023, dropping for the third consecutive year. This tide should soon turn with new investments announced a few months ago, and the anticipated resumption of several mines. Zambia hopes to bring its copper output to a million tons in 2026. The ambition was unveiled today, April 5, by Finance Minister Situmbeko Musokotwane. The figure would be 43%...

After a successful first edition, Cotonou will be hosting the second edition of the Benin International Arts Festival (FInAB) from 23 to 28 April 2024 at the Palais des Congrès. The Empire Group, a leading event organiser in Benin and the sub-region, is proud to announce the second edition of the Benin International Arts Festival (FInAB), which will take place at the Palais des Congrès in...

GuarantCo has partnered with Africa GreenCo in a $27 million risk-sharing agreement. This initiative, signed yesterday April 4, aims to mobilize private sector investment in independent energy producers, potentially unlocking up to $270 million in private sector funds. The guarantee agreement is designed to invest in independent energy producers who will then sell the generated power...

The high cost of smartphones poses a significant barrier to digital inclusion in Africa, despite various strategies being explored to make these devices affordable for the continent's lower-income populations. These strategies include local assembly and tax exemptions, but reconditioning second-hand phones may present a more effective solution. This approach has already shown success in similar...

The Economic Community of West African States (ECOWAS) is on the brink of launching a dedicated fund for the energy and transport sectors by the end of 2024. The initiative is aimed at bridging a financing gap exceeding $12 billion annually in infrastructure within the integration space. Regional authorities plan to use this fund, housed at the ECOWAS Bank for Investment and Development...

On March 20, 2024, Africa Global Logistics (AGL) signed the contract to manage the Walvis Bay Multipurpose Bulk Terminal in Namibia, in the presence of Tony Stenning, Regional Director South Africa and Andrew Kanime, CEO of the National Port Authority of Namibia, Namport. This appointment follows an international call for tenders launched by Namport in January 2023. This decision demonstrates the...

Kore Potash is one of the companies that has several projects in Congo, a country that hosts hundreds of millions of tons of potash resources. Exploiting these deposits requires significant financing; a mission the company has entrusted to its new CEO. André Baya is the new CEO of Kore Potash. The firm announced the appointment on April 4, adding that Baya will come into function on April...

One of the requirements of the Extractive Industries Transparency Initiative (EITI) is the disclosure of the true owners of mines and oil and gas projects. This, according to the initiative, helps reduce the risk of corruption and fraud in the extractive sector.  In his address to the nation on April 3rd, Senegal’s new President, Bassirou Diomaye Faye, said he intends to disclose the...

South Africa's Parliament Speaker, Nosiviwe Mapisa-Nqakula, has announced her resignation in the wake of a corruption scandal. The announcement, made on April 3, comes as the ANC faces a critical test in the upcoming elections, with its reputation tarnished by a series of corruption scandals. Mapisa-Nqakula, a member of the ANC and former Defense Minister from 2012 to 2021, is under scrutiny for...