In Africa, Russia has previously partnered with Angola to launch a telecommunications satellite. The satellite entered orbit in October 2022, and commercial services started in late January 2023. Mali, Niger, and Burkina Faso are looking to develop a joint communication satellite with the Russian space agency ROSCOSMOS. The goal is to improve telecommunication services and more. Ministers from...

The Indian fintech, focused on developing APIs and Banking-as-a-Service solutions, aims to drive financial inclusion and foster innovation across the continent. Helios Investment Partners, a UK-based private equity firm focused on Africa, has invested $102 million in M2P Fintech to support its expansion strategy on the continent. The information was revealed in a statement issued Tuesday by...

Integrating technology into critical sectors is paving the way for more inclusive and resilient economies across the continent. By leveraging cutting-edge technologies, Africa is not only addressing its socio-economic challenges but also fostering long-term growth and environmental sustainability, aligning with global digital transformation goals. In partnership with ZTE Corporation, MTN South...

Zambia has faced significant tensions with mining investors between 2019 and 2021, resulting in blocked investments and a drop in copper production to 700,000 tonnes in 2023. With an ambitious goal of producing 3 million tonnes of copper by 2031, fostering a stable business environment is essential. On September 20, the Zambian government convened a working session with the Chamber of Mines to...

By 2035,  90% of the world's nickel supply will be unprotected by existing US free trade agreements, according to S&P Global. This scenario is prompting Washington to diversify its sources for nickel, an essential mineral for energy transition. The U.S. Development Finance Corporation (DFC) is ready to lend Tanzania cash to develop the Kabanga nickel project, which includes constructing a...

Botswana’s copper industry keeps growing, with two mines launched between 2021 and 2023. As copper becomes vital for the country's energy transition, investors are helping to diversify the local mining sector. On September 23, Australian mining junior company Cobre announced it signed a letter of intent with BHP to negotiate an exclusive joint venture on the Kitlanya West and East copper...

Cobalt prices in the Democratic Republic of the Congo (DRC) have fallen to their lowest level since 2016. The DRC is the world's largest cobalt producer, with 140,000 tonnes expected to be mined in 2023. An oversupply in the market has led to declining prices, impacting the country's revenues. Last week, cobalt prices dropped to between $10 and $11.80 per pound, according to...

Nigeria is currently facing devastating floods that have affected several regions. The floods have caused numerous casualties, significant property damage, and displaced millions of people. The European Union (EU) has released €1.1 million (about $1.22 million) to support victims of severe flooding in Nigeria. The country is one of six African nations receiving a total of €5.4...

In 2023, the external debt of the West African Economic and Monetary Union (WAEMU) countries increased to CFA4.4 trillion, or about $7.4 billion, according to a new report from the Central Bank of West African States (BCEAO). This marks an 11.1% rise from the previous year. As a result, external debt reached 36.6% of the region’s total GDP, up slightly from 35.7% in 2022. Benin has the...

The price of uranium surpassed $100 per pound in early 2024, a record it had not reached since 2007. The surge was driven by renewed interest in nuclear power worldwide, affecting demand for uranium. Several African nations are taking notice of this trend. The Letlhakane project could produce an average of 3 million pounds of uranium annually over its 15-year lifespan, totaling 42 million...