IFC may grant up to $20 million to CBI Ghana for a low-carbon cement plant in Tema. The $66.7 million project includes global investors Société Générale, Norfund, and EKF Denmark. The plant aims to cut clinker imports, lower cement prices, and expand output to 1.4 million tons. Continental Blue Investment Ghana Limited (CBI), one of Ghana’s main cement producers,...

Rwanda and Mozambique signed a defense agreement on August 27, 2025, formalizing Kigali’s troop presence in Cabo Delgado. Kigali has deployed over 3,000 soldiers since 2021 to help counter jihadist insurgency in the gas-rich province. Both countries also signed an investment pact to expand trade and cooperation in agriculture, industry, and services. Rwanda and Mozambique signed...

Egypt and Qatar signed three new agreements on August 28, 2025, covering pensions, agriculture, and political dialog. Cairo urged stronger Qatari investment in sectors like food security, transport, energy, and tourism. Qatar has pledged $7.5 billion in direct investments, reinforcing its economic push in Africa. Egypt and Qatar signed three cooperation agreements on August 28...

Banque Agricole du Sénégal is raising CFA80 billion ($142 million) through a securitized bond. The offer includes a 7-year tranche A at 8% and tranche B at 9%, listed on the BRVM. Funds aim to diversify financing and boost support for the agricultural sector. Invictus Capital & Finance SA, acting as lead arranger, announced on August 28 the launch of a bond issue by public...

Côte d’Ivoire will receive €24 million ($28 million) from the EU and Germany to support youth involvement in peace and security. The three-year program, implemented by GIZ under the EPSG project, aims to promote civic values, crisis prevention, and social cohesion. Funding will also back the country’s first National Action Plan on Youth, Peace, and Security. Côte...

77.3% of African banks see limited customer digital literacy as the main obstacle to digital services. High internet costs, poor connectivity, and cybersecurity concerns add to the barriers. Banks are investing in AI, cloud, and personalized digital platforms to cut costs and grow market share. About 77.3% of African banks say limited digital literacy among customers is the biggest...

Senegal will end gas imports by 2026, saving $227M annually, but electricity tariff impact is uncertain. Domestic gas from Sangomar and GTA projects will replace imports, with 20-25% of GTA Phase 1 output for local use by 2027. Public electricity subsidies hit $455M in 2023; future tariffs depend on Senelec and CRSE decisions. Senegal will stop importing natural gas in...

Harmony Gold reported a 20% revenue increase to $4.07 billion in FY2025, driven by higher gold prices despite a 5% production decline. The average gold price realized by Harmony Gold rose 27% to $2,620/ounce, while overall gold prices increased 30% since Jan 2025. Analysts predict continued gold price hikes; Harmony Gold forecasts stable production of 1.4-1.5 million ounces...

• Chad orders telecom operators Airtel and Moov Africa to connect to the national fiber optic network within one week due to poor service quality.• The directive is part of the PMICE project, which deployed 1,275 km of fiber optic to improve network quality and address consumer complaints.• Mobile internet costs in Chad are high (8.37% of monthly GNI per capita), exceeding the ITU's 2%...

Senegal plans a national tractor assembly plant to boost agricultural mechanization and food security. The project involves Turkish partners (Albayrak Group, Türk Eximbank) and Senegalese companies. It supports the "Allo Tracteurs" program, aiming to mechanize 35,000+ hectares by 2024/2025, addressing low current mechanization rates. Senegal plans to establish a national tractor and farm...