(Ecofin Agency)   United Bank for Africa (UBA) saw profits from its CFA zone subsidiaries (UEMOA and CEMAC) surge by 166% in 2024, reaching N259.8 billion ($169 million). The CFA zone now contributes 34% of UBA’s net income, up from 16% a year earlier, solidifying Francophone Africa as a key growth driver. Currency fluctuations, particularly the naira’s...

CMOC Group Limited (CMOC) has announced on March 21st full‑year 2024 results, marking a new chapter of industry leadership with record highs in revenue, profitability, production and sustainability performance. Key financial highlights CMOC delivered a standout financial performance in 2024, with net profit attributable to the parent climbing 64.03% year‑on‑year (YoY) to...

 (Ecofin Agency)   The International Telecommunication Union (ITU) and the European Commission have launched a broadband mapping project to identify connectivity gaps in Africa. The initiative, covering 11 countries, has a €15 million ($16.2 million) budget over four years. While it aims to boost broadband access, it remains limited in scope, with no confirmation...

The West African Development Bank (BOAD) is providing $82.5 million to Niger to stabilize Sonibank, a key public bank facing financial distress. Sonibank has been struggling with liquidity issues and non-compliance with regional banking regulations. The bailout comes amid broader instability in Niger’s banking sector, worsened by the political crisis and economic...

The Alliance of Sahel States (AES) is imposing a 0.5% tax on imports from outside the bloc to finance its activities. Customs authorities in each country will collect the funds, with exemptions for humanitarian aid, diplomatic goods, and intra-bloc trade. The move comes as the three nations continue adjusting their trade ties after leaving ECOWAS in early 2025. The Alliance of Sahel States...

Smart Africa is working with 10 African countries to align e-commerce and digital payment policies. A workshop was held in Brazzaville to kickstart the harmonization process. The $1.7 million initiative aims to boost cross-border trade and digital transformation in Africa. A new effort is underway to bring African countries together around a common approach to e-commerce and digital...

– Government outlines major investments in roads, health, education, and agriculture – Oil sector, renewable energy, and mining get key funding to drive economic transformation – External funding remains tight after World Bank freeze linked to anti-LGBTQ law Uganda has rolled out an $11.1 billion (40,700 billion shillings) budget plan for FY2025-26. The proposal, officially...

Senegal launches a $247 million bond issue on the regional market as access to international financing narrows. The IMF has suspended its $1.8 billion program after uncovering $7 billion in hidden debt. With rising debt levels and downgraded credit ratings, the new government faces major financial challenges. Senegal has launched a new bond issue on the regional market to...

Allied Gold operates the Bonikro and Agbaou gold mines in Côte d'Ivoire and the Sadiola mine in Mali. The company is currently listed on the Toronto Stock Exchange in Canada. Allied Gold has announced plans to list on the New York Stock Exchange (NYSE). During its annual results on Thursday, March 27, the company confirmed it is in advanced discussions with the NYSE. The ticker symbol "AAUC"...

Rio Tinto is active in Guinea, South Africa, and Madagascar. In the first, it develops the Simandou iron deposit. In the other two, it extracts mineral sands. In 2023, the company paid $117 million in taxes to African countries. In 2024, Rio Tinto, the world's second-largest mining company by market capitalization, paid over $150 million in taxes and royalties to six African countries....