Remittances from Tunisian migrants represent the second largest source of foreign currency after export earnings, since the 2011 Revolution.    The Money Tunisians living abroad send back home reached TND1.81 billion ($579.7 million) over the first three months of this year, marking a 4% increase year-on-year. The figures were reported yesterday April 3 by the Central Bank of...

Côte d'Ivoire benefits from two IMF-supported financial programs worth a total of $4.8 billion. The programs are designed to preserve the country's macroeconomic stability and support its ambition to become an upper-middle-income country by 2030, among other things. An IMF delegation, led by Mr. Olaf Unteroberdoerster, began an assessment mission of Côte d'Ivoire's active economic...

Despite being the world's largest producer of cobalt, the DRC processes very little of it, exporting a large portion of its production to Chinese refineries. To be less dependent on China, the Central African country has been striking deals with Western countries to refine its cobalt. In the DRC, Electra Battery Materials and Eurasian Resources Group (ERG) sealed a deal to source cobalt from the...

Niger is no more Africa’s top uranium producer since 2016. That year, it was taken over by Namibia. Both countries currently record new projects in this sector, a movement spurred by the global surge in uranium prices.  Namibia’s Langer Heinrich uranium mine has started production. The project’s owner, Paladin Energy, disclosed the news on April 2. The move should consolidate the...

Adenia Partners, a private equity firm, announced on Wednesday the successful closure of its largest fund dedicated to Africa, totaling $470 million. The company attracted new investors such as Findev Canada and the US International Development Finance Corporation. About 60% of the funds raised for Adenia Capital V come from long-standing investors, including the European Investment Bank...

The Nigerian government has announced plans to remove electricity subsidies for 15% of consumers, aiming to reduce the subsidy cost by 3.3 trillion naira ($2.6 billion). This move is part of a series of reforms designed to alleviate the strain on public finances, according to Bayo Onanuga, the presidency's spokesperson, on Tuesday, April 2, 2024. "The government was under pressure to allow a...

Bassirou Diomaye Faye was sworn in as the new President of Senegal on Tuesday, April 2, following his first-round election victory on March 24. Shortly after taking office, he appointed Ousmane Sonko as the Prime Minister, head of the government. The newly appointed Senegalese President Bassirou Diomaye Faye has appointed Ousmane Sonko, who was recently released from prison alongside the new...

In recent years, Africa has seen a surge in demand for connectivity, data storage, and processing capabilities. Investments have been ramping up to meet this growing need. Data center operator Raxio Group announced it will commission its data center under construction in Kinshasa, Democratic Republic of Congo (DRC), in July. This was revealed by Dominique Migisha, coordinator of the Digital...

The Republic of Congo has an underdeveloped mining sector; a situation that contrasts with its vast mineral resources. This situation could, however, change in coming years, as the country ramps up efforts to exploit its resources and diversify its economy. This quarter, Kore Potash plans to sign an Engineering, Procurement, and Construction (EPC) contract for its Kola Potash project in the...

Last year, amidst criticisms over the outcomes of its "mines for infrastructure" contract with China, the DRC government renegotiated with the Asian giant, securing an additional $4 billion. This might have been impossible if the contract’s terms had not been disclosed. The $7 billion agreement signed between China and the DRC in mid-March 2024 shows how important transparency and...