Africa could soon overtake China as the world’s top graphite producer. The continent houses the world’s second-largest mine, in Mozambique and Black Rock’s Mahenge project in Tanzania could foster this paradigm shift. Black Rock Mining has obtained approval from the Tanzanian CRDB Bank for two loans totaling $40 million. With this, the Australian firm has met its goal of...

During his inaugural speech for his second term of office, President Félix Tshisekedi announced a renegotiated $7 billion agreement with China in the framework of the 2008 mining convention. The funds will be used primarily to build roads in the country. Last Thursday, the DRC government signed the 5th amendment to the "mines for infrastructure" agreement concluded in 2008 with China. The...

After splitting from parent company Appzone in 2022, Nigerian fintech firm Zone has secured its first round of funding from a group of investors. This capital injection of $8.5 million will be used to expand its blockchain network, aimed at facilitating transactions between banks and financial service companies. Zone, a Nigerian fintech leveraging blockchain technology to process payment...

A January 2024 study revealed that the future Koné gold mine could deliver more than 100 tonnes of gold over 16 years. Montage Gold, which owns the project, is ramping up efforts to boost this capacity. To achieve this goal, it can now count on Silvia Bottero, who has already overseen the discovery of over 400 tonnes of gold in Côte d'Ivoire. On March 18, Canadian mining company Montage Gold...

Countries in Africa have been facing significant internet disruptions over the past five days. The problem, we learned, is due to technical incidents affecting three of the main undersea cables connecting the countries. Moov Africa's divisions in Benin and Côte d'Ivoire are leveraging the current internet outage crisis across Africa to expand their customer base. These operators remain fully...

The record for raising financial resources through ESG (Environmental, Social, and Governance) bonds has already been broken this year in Africa. The African Development Bank (AfDB) continues to be a significant player in the sector. However, this development hides a significant margin for progress, given the continent's needs. The value of international loan securities issued by African...

In February 2024, the IMF staff reached an agreement with the Ivorian state for a financing of $1.3 billion under the Rapid Financing Instrument (RFI). The loan was approved by the institution's board of directors and is expected to have a repayment term of 20 years plus a grace period of 10 and a half years. The International Monetary Fund (IMF) approved the financing of $1.3 billion...

The African Development Bank and NMB Bank Limited Zimbabwe (NMB) have signed a $15 million Trade Finance Transaction Guarantee Facility to unlock trade finance opportunities for Zimbabwean small and medium-sized enterprises and those in agri-business and trade distribution value chains. The signing took place on 7 March at NMB Bank Headquarters in Harare. Moono Mupotola, African Development...

After reaching a $5.4 billion bilateral debt restructuring agreement with its official creditors last January, Accra is now hoping to quickly secure a deal with its Eurobond holders. Ghana signed non-disclosure agreements (NDAs) with the holders of its Eurobonds, marking the start of formal negotiations on restructuring around $13 billion in debt, Reuters reported yesterday, citing...

The Ivorian government is taking significant steps to enhance the economic landscape, particularly focusing on SMEs, which are considered the backbone of the economy. In a recent announcement made by Yaya Ouattara, the Director-General of the Single Window for SME Development (GUDE-PME), the Ivorian government disclosed its ambitious plan to support 8,000 SMEs in 2024. The plan was revealed...