Expected to emerge as Côte d'Ivoire's largest gold mine, the Koné project by Canadian Montage Gold has the potential to yield more than 100 tonnes of gold. The mine's production will be subject to royalties held by Barrick and Endeavour, two companies involved in gold mining within the country. Canada's Montage Gold has opted to acquire half the royalties of Barrick Gold and Endeavour on the...

The transaction, which includes several entities active in insurance, specialized financing, leasing, asset management, and brokerage, marks a strong comeback for Moroccan businessman Moulay Hafid Elalamy in the Moroccan financial sector. The Central Bank of Morocco has approved the acquisition of a 57.67% stake in Société Générale's local subsidiary by Saham Finances, the company owned by...

MTN's launch of 5G comes in the year the telecom operator celebrates 25 years of presence in Benin. The South African group's subsidiary is the leader in the country's telecom sector, with a focus on innovation to maintain that position. On November 22, MTN launched its commercial 5G service in Benin, becoming the first telecom operator to offer this advanced technology in the country. This move...

Gold mining is a key part of the Russian mercenary group’s business model. Even after coming under Kremlin control, it continues to offer security, training, and combat services to governments in exchange for access to gold, often at the expense of artisanal miners. The Russian paramilitary group Wagner has made more than $2.5 billion through illegal gold mining, primarily in African...

Despite double-digit growth in the volume and value of transactions processed over the past five years, none of the 31 active instant payment systems on the continent have reached a mature level of inclusivity, characterized by coverage of all use cases, the availability of strong grievance mechanisms, and low costs for end users. In 2023, active instant payment systems (SPI) across Africa...

With over 78% of the seats, PASTEF is now the majority party in the Senegalese Parliament. According to observers, this victory should give the new regime a clear path to implement its reform agenda. In the November 17, 2024 legislative elections, the Patriotes Africains du Sénégal pour le Travail, l'Éthique et la Fraternité (PASTEF) secured an overwhelming victory, winning 130 out of 165...

At COP29, developing countries are pushing to negotiate a deal that would secure $1 trillion in annual funding to fight climate change. However, many investors appear hesitant to commit to these nations.  Alterra, the world’s biggest private fund dedicated to fighting climate change, is struggling to find the right projects to invest in, especially in Africa. Majid Al Suwaidi, the...

The telecommunications sector has been a driver of economic growth, contributing significantly to the African economy. However, the rising costs of deploying such technologies necessitate additional revenue streams for telecom operators to ensure continued investment and innovation. Egypt’s National Telecom Regulatory Authority (NTRA) announced the agency's preliminary approval to increase...

Last month, Saudi Arabia expressed its interest in buying a minority stake in Canada's First Quantum's copper mines located in Zambia. Although no deal has been finalized, the Saudi firm Manara Minerals may be outbid by a Japanese company.  Mitsui & Co. from Japan outbid Manara’s offer for shares in First Quantum's Zambian copper mines. Reported by Bloomberg on November 19, the news...

The European Union (EU) currently relies on China for certain critical minerals but Brussels seeks to diversify its sources. Africa, which holds about 30% of the world's reserves of these essential minerals, could become a key partner of the Union.  Several companies from China, Japan, South Korea, and the United States have been competing to secure access to Africa's minerals, which are...