Rwanda has agreed to accept illegal migrants from the United Kingdom on its territory in exchange for British investment. Initiated in 2022, the project has faced criticism from human rights NGOs and encountered strong opposition in British and European courts. The National Audit Office (NAO), a government spending watchdog in the United Kingdom, announced on Friday, March 1st, that the UK would...

Meeting in Abidjan on 14 February 2024, the Board of Directors of the African Development Bank Group approved a loan of $117.9 million to the Democratic Republic of Congo to implement the Project to Support Governance and Skills Development in support of the Agriculture Transformation Programme (PTA). The financial support comes from the African Development Fund, the Bank Group's...

The Board of Directors of the African Development Fund approved, in Abidjan on 27 February 2024, $11.96 million Grant to speed up the establishment of the African Pharmaceutical Technology Foundation, headquartered in Kigali, Rwanda. The financial support from the African Development Bank Group’s Regional Public Good window, together with a contribution of $1.93 million from the...

U.S. rating agency Moody's has maintained a strict (Caa) rating for Cameroon, even though the country's debt is projected to remain stable until 2027. The agency cites insufficient budgetary performance and emphasizes the need for political stability, especially in a global context where democracies are under significant strain. In its recent analysis, Moody's decision to keep Cameroon's rating...

The European Union (EU) has committed to providing humanitarian aid amounting to €171 million ($185.2 million) to support the populations in the Horn of Africa, as per a statement released by the European Commission on Tuesday, February 27. This financial assistance is aimed particularly at alleviating the severe food and nutritional crisis plaguing the region, enhancing access to basic...

The Chad government has urged citizens to maintain their regular activities following a violent attack on intelligence services in N'Djamena on the night of February 27 to 28, 2024. Amidst the unrest, the government is seeking to reassure the public, encouraging them to proceed with their daily lives. In response to the attack, whose perpetrators remain unidentified, a nationwide search has been...

Guinea has appointed economist and former minister Amadou Oury Bah, known for his commitment to dialog, as its new Prime Minister. Announced by decree from Transitional President General Mamadi Doumbouya, Bah's appointment comes amid an indefinite general strike and the dissolution of the previous government. Since the general strike began on Monday, February 26, Guinea has been gripped by...

The Suez Canal Economic Zone (SCZone) in Egypt has attracted $4.6 billion in foreign investments over the last 18 months, from August 2022 to January 2024. This influx of capital into the special economic area, which is located near a vital maritime route handling 12% of global trade, was driven by a group of countries including China, Saudi Arabia, India, Turkey, Germany, and...

The project could cut Cimaf’s clinker import expenses, push the company’s annual cement output to a million tons, and create around 2,000 direct and indirect jobs. Cimaf Gabon is considering building a new clinker grinding unit in the Central African country. The facility could cost about $147.1 million to set up, according to the firm. The new clinker grinding facility should be built...

The Mana gold mine produced 142,000 ounces in 2023. This year, the mine’s owner, Endeavour, seeks to ramp up its output to 170,000 ounces. The Burkina Faso government holds 10% of the mine. Endeavour Mining temporarily halted underground operations at its Mana gold mine in Burkina Faso. The firm announced the news on February 28, a day after one of its subcontractors died due to injuries...