• Burkina Faso receives €106 million ($119.4 million) under a 'Mourabaha' loan agreement with ITFC.• The facility supports the cotton sector, which accounts for over 4% of GDP and 14% of exports.• The loan is part of a $900 million framework agreement signed in May 2023 with ITFC. The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development...

• Kenya plans to deploy 100,000 km of fiber by 2032 to ensure nationwide broadband access.• The current phase covers 940 km under the Horn of Africa Growth and Development Project.• The network will connect schools, government institutions, health centers, homes, and businesses. Kenya is advancing its national digital transformation strategy with a large-scale fiber optic deployment backed...

Nigeria’s audit industry grew 65% in 2024, reaching 28.2 billion naira ($14.4 million). KPMG, EY, PwC, and Deloitte captured over 99% of audit fees from top listed firms. Regulatory reforms and audit complexity continue to strengthen Big Four dominance. Nigeria’s audit sector experienced rapid expansion in 2024, driven by rising regulatory scrutiny and greater transparency demands from...

Lagos state will soon issue Nigeria’s first artificial intelligence (AI) guidelines for responsible development. The framework will guide developers and companies but will not constitute formal policy. The initiative comes amid growing national interest in digital innovation and AI governance. Lagos, Nigeria’s leading economy and digital ecosystem, has announced the imminent release of...

  Côte d’Ivoire signed an MoU with Yaatra Ventures to build a second oil refinery in partnership with SIR.   The project is valued at over CFA3,000 billion ($5.1 billion) and aims to double national refining capacity.   Additional MoUs were signed with U.S. firms for oil block development and renewable energy investment. Côte d’Ivoire has signed a memorandum of...

A 2.5 MW hybrid solar power plant has been inaugurated at the Nigerian Defense Academy in Kaduna, impacting more than 12,368 people. The project is part of the World Bank-funded Energizing Education Program (EEP), managed by the Rural Electrification Agency. It supports a national push to improve energy resilience in education and health institutions. Nigeria continues its transition to...

• 61% of African businesses say AI skills are critical to their success.• All surveyed firms expect an AI talent gap in 2025, with many already affected.• Cybersecurity, AI development, and cloud computing top the list of tech needs. A growing number of African companies are worried about the lack of artificial intelligence (AI) skills on the continent. According to a new report from SAP,...

The engagement marks a significant step toward deepening U.S.-Ghana digital cooperation, positioning Ghana as a strategic partner in the evolving global digital economy. Ghana’s Ministry of Communication, Digital Technology and Innovations has engaged in high-level talks with the U.S. Chamber of Commerce to explore partnerships in the digital economy. The discussions, announced on May 16, took...

Ghana plans to allocate 200,000 hectares for new industrial cocoa plantations under Cocobod. The effort aims to offset productivity losses caused by illegal mining, aging trees, and plant disease. Cocoa production dropped 31% since 2019/2020; the government targets a 1 million-ton output. Ghana’s cocoa production has faced ongoing fluctuations, largely due to illegal mining,...

The 2025–2026 Government Action Plan includes the recruitment of 24,000 military and security personnel. Mali allocated $1.11 billion to defense in 2024 amid persistent instability. The plan includes a national military industry and infrastructure development to support armed forces. Mali’s Prime Minister Abdoulaye Maïga has announced the recruitment of 24,000 personnel...