Diaspora remittances accounted for 25% of Zimbabwe's total foreign currency earnings between January and September 2024. Remittances from Zimbabweans living abroad reached $1.9 billion between January and September 2024, marking a 16.5% increase compared to $1.6 billion during the same period in 2023. This was announced by Zimbabwe’s Finance Minister, Mthuli Ncube, during his 2025...

The difference in interest rates between Nigeria and WAEMU countries reflects how investors view their sovereign risk and economic stability. This highlights the ongoing weaknesses in Nigeria’s economy, which affect its ability to meet international payment obligations. In its first return to the international capital markets (Eurobonds) in over two years, Nigeria announced it had raised up...

As the global market becomes more connected, having access to world-class internet speeds allows African SMEs to compete on an international scale. From better supply chain management to seamless communication with global partners, this is a step toward integrating into the digital economy. Safaricom has introduced revamped 5G for Business plans aimed at small and medium-sized enterprises...

Nigeria's Central Bank (CBN) has decided to take action to address the cash shortage at ATMs. Starting on December 1, commercial banks failing to supply their ATMs and branches with cash will face penalties, announced CBN Governor Olayemi Cardoso on November 29, 2024, during the annual bankers’ dinner in Lagos. "To address this, we are conducting spot checks across deposit money banks, and we...

Vodacom announced on November 28 the launch of a new 4G/LTE base station in Thathe Vondo, Thulamela Municipality, Limpopo province. This marks the area's first high-speed mobile network, enhancing connectivity for thousands of households. Part of Vodacom’s Rural Coverage Network Expansion Programme, the project aims to bring digital services like eEducation and eHealth to underserved...

Access to the internet is increasingly seen as a fundamental necessity, and providing Free WiFi can contribute to national development in several ways. Such initiatives help address gaps in digital literacy and accessibility. The Zambian government officially launched the ZamFree WiFi initiative, providing free internet access at public hubs to promote digital inclusion and empower citizens...

In September 2024, she officially announced her bid for a second term as head of the World Trade Organization (WTO). Now reappointed to her role, she faces significant challenges ahead. Dr. Ngozi Okonjo-Iweala (photo) has been unanimously re-elected for a second term as Director-General of the World Trade Organization (WTO). The former Nigerian Minister was re-elected during a special WTO...

The Kibali mine, which produces almost all this volume, sold its gold at an average price of $46,214.8 per kilogram in Q1 2024. That is nearly $20,000 less than how much Primera Gold (now DRC Gold Trading) sold its gold at in the same quarter. Meanwhile, global gold prices were up by 37% over the period. Recent data from the Cellule Technique de Coordination et de Planification...

Mali has put a hold on issuing new mining titles until 2022 and introduced a new mining code in 2023, creating uncertainty for mining companies. However, with the recent release of decrees to implement the new code, the outlook is improving. On November 28, Canadian mining company Desert Gold announced plans to publish a preliminary economic assessment for its SMSZ gold project in early 2025....

As of the end of October 2024, Morocco's total imports increased by 5.8%, driven mainly by purchases of finished goods and food products, according to the Foreign Exchange Office. Morocco’s trade deficit increased by 5.2% by the end of October 2024, reaching 249.83 billion dirhams (about $25 billion), compared to 237.49 billion dirhams in the same period in 2023. This information comes...