Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six months, down to $37.37 billion in June Central Bank steps up recapitalization, while banks face delays settling FX credit lines Nigerian banks are tightening restrictions on international spending as foreign exchange pressures mount. On...

• Trump announces 50% tariff on all imported copper, citing national security• Copper futures jump past $12,330 per ton as traders react to looming restrictions• African exporters face indirect risks from global price shifts and trade rerouting On July 8, 2025, U.S. President Donald Trump announced a 50% tariff on all copper imported into the United States. The announcement triggered...

• Cameroon and Chad plan to launch free mobile roaming by August 11, following a joint coordination meeting in N'Djamena• The move revives a stalled CEMAC initiative started in 2021 to eliminate high roaming costs in Central Africa• Despite this progress, regional implementation lags, hindered by unresolved technical, contractual, and regulatory challenges Cameroonian and Chadian...

• IsDB approved €200 million for Abidjan’s urban transport upgrade, focused on the Yopougon–Bingerville corridor.• Project includes a 20 km BRT line, transit system upgrades, and informal transport reform.• Aims to ease congestion, boost access, and support low-carbon mobility. The Islamic Development Bank (IsDB) has approved €200 million (approximately $234 million...

• WAF targets 290,000+ ounces of gold in Burkina Faso for 2025, up 40% from 2024• Output driven by new Kiaka mine and continued production at Sanbrado• Long-term peak of 473,000 ounces expected by 2029, boosted by Toegao deposit West African Resources (WAF) projects gold production of at least 290,000 ounces in Burkina Faso for 2025, driven by expected output from its new Kiaka gold mine....

Backbone Infrastructure will build a $15 billion refinery in Nigeria's Ondo State, with a capacity of 500,000 barrels per day. This facility will be the country's second largest, trailing only the Dangote refinery. Backbone Infrastructure Nigeria Limited (BINL) announced on Wednesday, July 9, that it will construct a new crude oil refinery with a capacity of 500,000 barrels per day in Ondo...

• Dangote refinery will use only Nigerian crude by end-2025 as export contracts expire• In June, 53% of crude was locally sourced; past reliance on imports was due to supply issues• Shift aims to cut fuel imports and stabilize Nigeria’s refined product exports Aliko Dangote's oil refinery will exclusively use Nigerian crude by the end of 2025. Devakumar Edwin, Vice President of Dangote...

Sub-Saharan Africa's agricultural sector accounts for 17% of its GDP and employs roughly 49% of the workforce. As the region's farming remains largely extensive, population growth is increasing food demand and straining agricultural supply chains. Between 2001 and 2023, Africa recorded the world’s highest growth in cultivated agricultural land, according to the Food and Agriculture...

South Africa signs a bilateral agreement with Austria to boost technical and vocational education and training (TVET). The partnership promotes skills exchanges and internships between South African and Austrian companies. The initiative targets youth unemployment by aligning training with job market needs. South Africa is grappling with a high unemployment rate of 32.9% as of...

Bomboré gold mine increased production to 56,236 ounces in H1 2025, up from 55,663 ounces in H1 2024. Orezone generated $177 million in revenue in the first half of 2025, a sharp rise from $123 million in the same period last year. A new processing plant will come online in Q4 2025, aiming to boost production to 170,000–185,000 ounces in 2026. Orezone...