With over 78% of the seats, PASTEF is now the majority party in the Senegalese Parliament. According to observers, this victory should give the new regime a clear path to implement its reform agenda. In the November 17, 2024 legislative elections, the Patriotes Africains du Sénégal pour le Travail, l'Éthique et la Fraternité (PASTEF) secured an overwhelming victory, winning 130 out of 165...

At COP29, developing countries are pushing to negotiate a deal that would secure $1 trillion in annual funding to fight climate change. However, many investors appear hesitant to commit to these nations.  Alterra, the world’s biggest private fund dedicated to fighting climate change, is struggling to find the right projects to invest in, especially in Africa. Majid Al Suwaidi, the...

The telecommunications sector has been a driver of economic growth, contributing significantly to the African economy. However, the rising costs of deploying such technologies necessitate additional revenue streams for telecom operators to ensure continued investment and innovation. Egypt’s National Telecom Regulatory Authority (NTRA) announced the agency's preliminary approval to increase...

Last month, Saudi Arabia expressed its interest in buying a minority stake in Canada's First Quantum's copper mines located in Zambia. Although no deal has been finalized, the Saudi firm Manara Minerals may be outbid by a Japanese company.  Mitsui & Co. from Japan outbid Manara’s offer for shares in First Quantum's Zambian copper mines. Reported by Bloomberg on November 19, the news...

The European Union (EU) currently relies on China for certain critical minerals but Brussels seeks to diversify its sources. Africa, which holds about 30% of the world's reserves of these essential minerals, could become a key partner of the Union.  Several companies from China, Japan, South Korea, and the United States have been competing to secure access to Africa's minerals, which are...

The decline in African billionaires' wealth is mainly due to global trade disruptions affecting resource-rich countries, rising interest rates, power shortages, and ongoing political and social instability across the continent. Africa had 29 billionaires with a combined fortune of $54 billion by the end of 2023, according to a report released on November 20 by wealth management firm...

The expansion of 5G in Africa is vital, aligning with global digital transformation trends and meeting the continent's increasing demand for high-speed connectivity. This development is essential to keep up with the growing need for faster internet access across the region. Mobile network operator Econet Wireless Zimbabwe (EWZ) is intensifying its rollout of 5G technology, adding 32 new base...

As highlighted by the World Bank, Benin is grappling with major socio-economic challenges despite progress in reducing poverty and improving human development. In 2021, its Human Development Index ranked it 30th in Africa. The government of Benin has approved a new social protection strategy for 2024–2028. The plan, announced during a Cabinet meeting on November 20, is backed by a budget of...

Senegal, like many African countries, is fully embracing the tech revolution. The nation is ramping up investments in the digital sector and forging strategic partnerships, but it faces challenges in a key area. Senegal has been ranked in Tier 3 scoring 67.17 out of 100 on the International Telecommunication Union's (ITU) 2024 Global Cybersecurity Index. This places the country far behind...

Since 2016, when Patrice Talon became president, Benin has embraced digital transformation. He made digital technology a key part of his development plan, aiming to use it to drive economic growth and modernize the country. Benin's Ministry of Digital Affairs and Digitalization (MND) plans to allocate CFA16.4 billion (about $26.4 million) to digital projects in 2025. This represents 56.8%...