The report highlights that a significant number of African small and medium-sized enterprises (SMEs) are still lagging behind when it comes to digital adoption. The reasons for this are mainly the high implementation costs, limited internet access, and cybersecurity concerns. More than four out of five African SMEs, accounting for 81.3%, view cloud computing as the most crucial digital tool to...

In northern Guinea, the Simandou North project led by Australian company Arrow Minerals has been garnering attention in recent months. Despite being in the early exploration stage, the initial drilling results have sparked optimism. Arrow Minerals has already announced promising findings from its iron ore project located north of the renowned Simandou deposit's four blocks. Drilling samples have...

Algeria boasts significant phosphate, iron, and various other mineral resources. But the mining sector barely contributes 1% to the GDP. To increase this contribution, the government has initiated a series of reforms in recent years. Algeria aims to complete its first minerals map by the end of 2024. Launched nearly two years ago, this project aims to identify the country's main mineral deposits...

In April 2024, as gold prices surged past $2,400 per ounce and forecasts hinted at further increases to $2,500 or even $2,700 by year-end, Panthera Resources made strategic moves in West Africa. Panthera Resources raised its stake in the Kalaka gold project, in Mali, from 40% to 80%, as part of a broader restructuring of its regional mining portfolio. This shift involves divesting...

In October 2023, Orezone unveiled a $168 million project to double the production capacity of its Bomboré gold mine in Burkina Faso. The project was initially planned to be developed in one phase but will be in two now. The first phase should be completed by the end of 2025. Orezone Gold wants to boost its annual gold output in Burkina Faso to 185,000 ounces by 2026, from 125,000 ounces...

Kinshasa will receive $324 million annually for infrastructure projects until 2040, contingent on copper prices above $8,000 per ton. Should the price drop below this threshold, the funding will gradually decrease until it reaches $5,200 per ton. Chinese investments in the Democratic Republic of the Congo (DRC) under the amended mega-mining contract signed in March 2024 will be...

As the second-largest uranium producer in Africa, Niger is poised to capitalize on rising demand and uranium prices. The country relies on two flagship projects, Dasa and Madaouela, to bolster its revenue streams. Last week, Niger's Minister of Mines led the groundbreaking ceremony for the uranium processing plant at the future Dasa uranium mine. Canadian firm Global Atomic reported on May 7...

Internet adoption in Senegal is closely tied to mobile telephony, particularly regarding mobile internet. Between 2022 and 2023, the number of active SIM cards in Senegal rose from 20.5 million to 22.4 million. Senegal’s telecoms authority (ARTP) reported 19.8 million internet subscriptions with mobile operators and internet service providers as of December 31, 2023. This marks a 15.2% growth...

Vivo Energy Côte d'Ivoire, a subsidiary of the Anglo-Dutch Shell group specializing in petroleum product distribution, has recently released provisional financial results for the first quarter of 2024. The company reported a net profit of CFA1.28 billion ($1.6 million), marking a 48% increase yoy. This growth represents the highest surge since 2017. The notable increase in net profit, exceeding...

President Bola Tinubu of Nigeria wasted no time in office, swiftly implementing a series of economic, political, and monetary reforms, including the removal of fuel subsidies. These measures are aimed at stabilizing the Nigerian economy. U.S. rating agency Fitch Ratings reported last week an upward revision in Nigeria's long-term debt repayment capacity. From stable, the agency brought it to...