• Somalia has secured a debt relief agreement worth $306.5 million with the Arab Monetary Fund (AMF).• The agreement aims to ease Somalia's financial burden and support its ongoing economic reforms.• This deal follows Somalia’s successful efforts to reduce its international debt, including a 99% cancellation of its debt by Paris Club creditors in 2024. Somalia has reached a...

Over the past decade, Africa’s first and second-largest uranium producers, Namibia and Niger, exported most of their output to China and France. However, new producers, like Mauritania, are now emerging, resulting in the diversification of the buyers’ pool. Lotus Resources, the Australian mining company, will sell 600,000 pounds of uranium from its Kayelekera mine in Namibia to a North...

Last November, Mali's 2023 Mining Code was applied to the Bougouni lithium mine project. Under the memorandum of understanding signed on the occasion, Bamako required a $15 million payment, split into two equal installments.  Malian authorities are waiting for a $7.5 million payment from Kodal Minerals (UK) and Hainan Mining (China), partners on the Bougouni lithium project. Kodal...

• Afreximbank successfully raised 2.2 billion yuan (around $303 million) with a bond issuance on the Chinese market, showcasing African institutions' growing ability to diversify funding sources.• The ECOWAS Bank for Investment and Development (EBID) approved €230 million and $10 million to fund infrastructure projects and support the private sector in West Africa, with a...

A new piece of legislation, known as the "CEMAC Act," is drawing attention to the management of foreign reserves in Central Africa’s six CFA countries—Cameroon, Gabon, Chad, Congo, Central African Republic, and Equatorial Guinea. The bill specifically urges the International Monetary Fund (IMF) to hold these countries accountable for the transparency of their reserves, particularly the funds...

On average, African citizens can travel visa-free or get a visa on arrival in only half of the continent.  Just five countries have fully opened their borders to all other Africans.  Lack of reciprocity and coordination continues to slow down Africa’s dream of free movement. Africa pushes for unity, but travel within the continent remains a challenge. The continent...

• Africa processed 65% of global mobile money transaction value last year, or $1.1 trillion. • The continent also led in volume, accounting for nearly 82 billion of the 108 billion global transactions. • Sub-Saharan Africa alone added $190 billion to GDP through mobile money use in 2023. Africa continued to dominate the global mobile money market in 2024, both...

Movis CI will delist from the West African regional stock exchange following sustained financial losses. The company’s majority shareholder is offering to buy back remaining public shares at CFA40,000 each.  The move leaves Africa Global Logistics as the sole transport company listed on the BRVM. Movis Côte d’Ivoire, a logistics and transport company operating across...

• Mali's inflation rose to 8.3% in February 2025, the highest rate in the West African Economic and Monetary Union (WAEMU). • Rising food, housing, energy, and communication costs continue to push prices up. • Heavy reliance on imports and recent shocks have made the economy more vulnerable. Mali recorded the highest inflation rate in the WAEMU region in February 2025, hitting 8.3%,...

Safaricom has launched the Spark Accelerator, a program to help bold, visionary founders grow and scale their startups. It targets early-stage, post-revenue startups in Kenya. Startups must have a working, revenue-generating product, have a skilled team, and be open to equity investment. They will receive product and tech support, including access to Daraja and M-PESA Open APIs, up...