The article highlights that while Chinese investments are a key part of capital inflows to Africa, they are not as large or transformative as official announcements may portray. Hinrich Foundation, a Singapore-based organization that promotes sustainable global trade, released findings from its study on Chinese direct investments in Africa on October 15. The analysis clearly states that these...

In its updated global economic outlook, the IMF maintained its 2024 global growth forecast at 3.2%, while sub-Saharan Africa’s projection was revised down by 0.2 percentage points compared to April. Sub-Saharan Africa is expected to grow by 3.6% in 2024, down from April’s 3.8% forecast, according to the latest World Economic Outlook report from the International Monetary Fund (IMF) released...

While the projected tax revenues for 2024 in Côte d'Ivoire are estimated at CFA6,121.40 billion (just over $10 billion), the collection rate as of the end of September stands at 51.75% of this annual target. Côte d'Ivoire’s Directorate General of Taxes (DGI) reported collecting CFA3,168.3 billion (about $5.2 billion) in the first three quarters of 2024. This information comes from...

Some governments impose strict restrictions on internet users for various reasons. In Africa, while these actions are widespread, some countries make an effort not to oppress their citizens for engaging in online activism. Freedom House, a U.S. organization that advocates for global freedom, released a report on October 16 that ranks South Africa, Ghana, and Kenya as the top three countries for...

The world’s top steel producer and Chinese giant BaoWu is among the actors financing the development of Guinea's Simandou project, the world’s largest unexploited iron ore deposit. North of this deposit, Australia’s Arrow explores another project. On October 21, Arrow Minerals, an Australian firm, announced a memorandum of understanding (MoU) with Baosteel, a subsidiary of Chinese giant...

Côte d'Ivoire could increase its gold production to 100 tonnes a year by 2029, up from 51 tonnes in 2023. The country aims to achieve this goal with new mines like Lafigué. Operated by Endeavour Mining, Lafigué produced its first gold in June 2024. Lafigué, which began operations at the end of June 2024, is expected to yield 200,000 ounces (5.6 tonnes) of gold annually by 2025. Endeavour...

Morocco is Africa's top silver producer. This year, one of its silver mining companies expanded the Zgounder mine to boost production by at least 36% by 2023. On October 21, during overnight trading on the CME futures market, silver prices hit $34.25 an ounce, the highest since 2012. This surge offers producers greater revenue opportunities. Morocco stands to gain the most from these...

Gide’s Casablanca, Tunis, Brussels and Shanghai offices are assisting Votorantim Cimentos on the sale of its subsidiaries in both Morocco and Tunisia. Votorantim Cimentos signed an agreement with Heidelberg Materials in September 2024 to sell all of its assets in Morocco to Ciments du Maroc (a subsidiary of Heidelberg Materials), including a 63% share in cement and ready-mix concrete producer...

Ethio Telecom aims to be a key player in Ethiopia's digital transformation. The incumbent operator signed a smart city agreement with the administration of Addis Ababa in June 2023. Ethio Telecom is set to launch a smart city project in Bahir Dar following the deployment of commercial 5G services. Yesterday, the state-owned company announced that it signed a memorandum of understanding with the...

Intelsat has been facing multiple issues with its satellites in recent years. These recurring failures affect millions of customers. Luxembourg-based satellite telecom provider Intelsat announced yesterday that its IS-33e satellite has ceased functioning following a power failure. This high-throughput satellite (HTS), designed by Boeing and positioned in geostationary orbit (GEO), experienced a...