About 60% of investment funds dedicated to Africa are registered outside the continent. This figure comes from a study commissioned by the MasterCard Foundation in partnership with Mennonite Economic Development Associates (MEDA) and conducted by a team of international experts, including Momentus Global (formerly International Financial Consulting), Samawati Capital Partners, and Stafford...

Nigerian lawmakers explained that the increase in the minimum capital for companies in the sector was driven by the depreciation of the naira, rising inflation, and the need to curb capital flight. On December 17, the Nigerian Senate passed a new bill to overhaul the country's insurance sector. The bill includes a major increase in the minimum capital requirements for insurance and reinsurance...

During the summer of 2024, Lucara Diamond, which operates the Karowe mine in Botswana, made two major diamond discoveries. The first weighs 2,488 carats and the other 1,094 carats. As usual, the Canadian company sought input from the Botswana community to name these diamonds. Lucara Diamond revealed on December 17 that the larger diamond would be called “Motswedi,” which means “water...

In September 2024, Senegal’s new leadership uncovered a troubling reality about the nation’s finances, with debt and deficits far exceeding the figures claimed by the previous administration. Now, all eyes are on the government as creditors await its next moves. Senegal is exploring several options to manage its debt but has no plans to renegotiate or restructure it, according to the...

Few tech entrepreneurs in Africa turn to therapists to address burnout, anxiety, or depression. Most rely on coping strategies of varying effectiveness, such as exercise, sleep, or healthy eating. A new report highlights the mental health struggles faced by many African startup founders. Although the majority of them are driven, creative, and ambitious, 86% admit to dealing with mental health...

Niger’s uranium industry has undergone major changes, with France's Orano and Canada's GoviEx recently losing control over their operations. Meanwhile, Niamey still supports Global Atomic, also Canadian, for its Dasa uranium mine project.  Global Atomic reiterated on November 17 its commitment to initiating uranium production in Niger, praising the government for supporting their Dasa...

In recent months, the Democratic Republic of Congo (DRC) has engaged lawyers to address Apple's use of illicit and conflict minerals. The DRC has recently filed criminal complaints against Apple in France and Belgium. Apple denied accusations from the Congolese government on December 17, asserting it no longer uses “conflict minerals” in its products. The company said it has asked its...

Given the growing insecurity and increasing socio-economic challenges, the International Crisis Group recommends that Mali's authorities adjust their sovereignist approach, focusing on reallocating public spending towards social sectors and easing tensions with financial partners. A report released on December 3 by the American think tank International Crisis Group (ICG) discusses the...

Coris Invest, owned by Burkinabe businessman Idrissa Nassa, recently initiated the acquisition process of the British company Hummingbird Resources. Sealing this deal would give Coris Invest control of two new gold mines, one in Mali and the other in Guinea. Nioko Resources, a subsidiary of Coris Invest Group (CIG) led by Burkinabe businessman Idrissa Nassa, is set to make a takeover bid for the...

Located in Worodougou, 500 km from Abidjan, the Séguéla open-pit mine began operations in 2023. It is projected to produce an annual average of 133,000 ounces of gold over its 7-year lifespan. This estimate does not account for the mine's underground mineral resources. Fortuna Mining plans to complete a 12,000-meter drilling program at the Sunbird deposit of its Séguéla gold mine in Côte...