Uruguay-based dLocal announces plan to acquire African fintech AZA Finance Deal aims to boost cross-border payments and currency exchange services in Africa Africa's payment market could hit $1 trillion by 2035, despite high transfer costs dLocal, a global fintech company specializing in cross-border payment solutions, announced on June 2 that it plans to acquire AZA Finance,...

EACOP reaches 60% completion despite earlier financing challenges Around 6,000 jobs created, with 70% benefiting local communities Project expected to improve road infrastructure and digital access The East African Crude Oil Pipeline (EACOP) has reached 60% completion, according to Tanzanian media reports on June 3. The $10 billion project, which spans 1,443 kilometers,...

GoldBod exported over 41.5 tons of artisanal gold between February and May 2025 Revenue reached about $4 billion, surpassing industrial gold exports for the first time Ghana aims to earn $6 billion from ASM gold in 2025 and $12 billion in 2026 GoldBod, the state-run body overseeing gold trade in Ghana, exported more than 41.5 tons of gold from artisanal and...

Over 200,000 young people assigned to 20,000 schools in fifth phase of job initiative Program aims to boost education and tackle youth unemployment Youth contracts offer $225 monthly stipend and support key learning areas South Africa has launched phase 5 of the Basic Education Employment Initiative, deploying more than 200,000 young people to around 20,000 schools across the...

Ethio Telecom teams up with Bankai Group to improve international call quality The operator targets 163.7 billion birrs ($3.73 billion) in revenue for 2024/2025 Foreign exchange earnings goal set at $282.85 million, with $72.6 million already earned Ethio Telecom has partnered with telecom solutions provider Bankai Group to enhance the quality of international voice...

Since its launch in 2022, the Pan-African Payment and Settlement System (PAPSS), designed to simplify cross-border transactions between African countries, has been gradually expanding. It is already showing strong results, especially in several English-speaking countries in West Africa. In a 2023 interview with Ecofin Agency, its CEO, Mike Ogbalu III, outlined the platform’s ambitions and the...

This raise marks a major milestone not only for the company but for the broader ecosystem supporting Africa’s transition into a cloud-first, interconnected, and digitally sovereign economy. Wingu Africa, East Africa’s carrier-neutral data centre operator, has raised $60 million in funding from Rand Merchant Bank (RMB) to fuel its rapid expansion across the region and strengthen...

• Angola has begun constructing a €100 million drug plant to produce injectables and tablets.• The facility, led by Thera, will produce up to 35 million injectables and two billion tablets a year by 2027.• The project aims to ease import reliance and support Africa’s pharmaceutical self-sufficiency. Angola has officially launched construction of a medication manufacturing facility...

• Canadian junior miner Koulou Gold secured $13 million to fund 2025 gold drilling in Côte d’Ivoire.• Funds will support drilling at Assuéfry, Sakassou, and Kouto, plus new permit acquisitions.• No resource estimates or detailed exploration timeline have been disclosed. Koulou Gold, a Canadian junior mining company, announced on Monday, June 2, that it has raised $13 million...

• Tunisia’s 2025 industrial tomato output is projected to fall 15% to 850,000 tons.• Downy mildew could cut Nabeul region yields by 40% due to crop damage.• Tomatoes are Tunisia’s fifth-largest agricultural export, earning $83.4 million in 2024. Tunisia, Africa’s second-largest producer of industrial tomatoes after Algeria, is facing a serious disease threat that could reduce...