CBN bars undercapitalized banks from dividends, bonuses, and offshore investments. Move aims to boost capital and address bad loans before March 2026 deadline. Critics fear impact on investor confidence and fundraising. The Central Bank of Nigeria (CBN) has temporarily barred banks that have not yet met new capital requirements from paying dividends and bonuses. The directive,...

Mauritania gets $2B pledge from Arab lenders for 2025–2030 development plan. Funds focus on energy, water, transport, and digital sectors. Reforms and strong FDI back growth and diversification goals. Mauritania secured a $2 billion funding pledge from the Arab Coordination Group (ACG) on Tuesday, June 17, to support its national development strategy. The commitment was...

Mali begins building gold refinery with Russia’s Yadran; key project details remain undisclosed. Refinery capacity exceeds Mali’s output; neighbors have their own refining plans. No word on LBMA certification, key for global gold market access. Malian President Assimi Goïta on Monday, June 16, laid the foundation stone for the country’s future national gold refinery. With a...

Algeria allows foreign firms up to 80% in mining projects to cut hydrocarbon reliance. State firms retain 20% minimum stake with 30-year permits and anti-dilution rules. Law streamlines approvals, grants data access, and exploration rights in new areas. Algeria's parliament on Monday passed a new law allowing foreign companies to own up to 80% of mining projects, a move aimed at...

85% of West Africa’s $10B food trade is informal, per OECD. Staples like cereals and tubers dominate informal trade, missing from official data. Informality distorts trade planning and hinders ECOWAS agricultural policy coordination. Nearly 85% of food trade between West African countries occurs outside formal channels, unrecorded by customs or administrative authorities,...

• Angola and Namibia to connect Lubango to Santa Clara via 275 km railway• Project to be developed under a public-private partnership model• Initiative supports Angola’s logistics hub ambitions and economic diversification Angola and Namibia are advancing plans to develop a cross-border railway network aimed at strengthening logistical connectivity and regional integration. The project...

• Egypt to build 1.1 GW solar plant with 200 MWh battery storage in Nagaa Hammadi• $479.1 million in international funding led by BII, AfDB, and EBRD• Project to supply 3,000 GWh annually, with first phase starting in 2026 Egypt has secured $479.1 million in international financing to build its first large-scale solar power plant with battery storage, a milestone in its energy...

• PowerTel and Paratus Zimbabwe partner to deploy high-capacity national fiber network• First phase to connect Plumtree, Bulawayo, and Livingstone within six months• Initiative aims to support digital transformation and boost affordable connectivity Zimbabwe is advancing its fiber optic infrastructure through a new partnership between PowerTel Communications—a subsidiary of the national...

• Nigeria targets rise in oil production from 1.6 to 3 million barrels per day by 2030• WoodMac highlights collaboration, regulatory streamlining, and pragmatic reforms as key• Investment has plunged from $29 billion in 2014 to $5 billion in 2024 Nigeria is aiming to raise its crude oil output from around 1.6 million barrels per day to about 3 million barrels per day by 2030,...

• Algeria to launch 40 new digital specialties in vocational training from next academic year• Plan aligns with national goal to train 500,000 ICT specialists by 2030• Strategy aims to cut brain drain by 40% and modernize job market alignment Algeria will introduce 40 new digital specialties into its vocational training system starting next academic year. The announcement was made on...