Economy

Bank of America has expanded Simbah Mutasa’s responsibilities by appointing him head of its investment banking activities across the African continent. The banker, who previously oversaw the South African market, will now coordinate the advisory and financing operations of the American institution at the regional level. Bank of America has promoted Simbah Mutasa to the […]

Microfinance institutions in the West African Economic and Monetary Union recorded an improvement in the quality of their credit portfolio at the end of 2025. The gross deterioration rate stood at 7.5%, down from 8.9% a year earlier, but remains significantly above the generally accepted norm of 3% in the sector. The quality of the […]

Nigeria has started exporting a new quality of crude oil from OML 18 thanks to the FSO Cawthorne, a floating storage unit with a capacity of 2.2 million barrels. Supported notably by NNPC and Sahara Group, this infrastructure illustrates the rise of national companies in a sector long dominated by international oil companies. The Nigerian […]

Flutterwave plans to acquire a banking institution in East Africa as part of its expansion into financial services. The co-founder and CEO of the Nigerian fintech, Olugbenga Agboola, has not revealed which country is involved, nor the identity of the targeted bank, or the financial terms of the operation. Flutterwave is furthering its relationship with […]

Africa Global Logistics Côte d’Ivoire closed the 2025 fiscal year with a net profit of 784.9 million FCFA, compared to 21.1 billion FCFA in 2024. This decrease of 96.3% occurs despite a 7.4% increase in revenue. Africa Global Logistics Côte d’Ivoire experienced a significant contraction in profitability in 2025. The company’s net result stood at […]

Cybercrime caused at least $5 billion in direct economic damages in Africa in 2025, according to INTERPOL’s 2026 report on cyber threats on the continent. The organization particularly warns about the increasing use of artificial intelligence, now involved in 55% of reported cases, while the technical and judicial capabilities of states remain insufficient. The rapid […]

The African Development Bank has approved funding of 20 billion CFA francs, which is about 35.15 million USD, aimed at strengthening public finance management in Senegal. The announcement was made on Monday, August 3, by the institution in a statement. This funding is intended to improve the collection of state revenues. It also aims to […]

Gabon has raised a total of 920 million dollars in international markets, far exceeding its initial target of 750 million dollars. This operation comes as the country faces budget tensions and still high borrowing costs. The Gabonese authorities present this fundraising as a sign of renewed investor confidence in the country. Analyst Cédrick Jiongo, a […]

Islamic finance continues to gain ground in the West African Economic and Monetary Union, supported by licenses issued by the Central Bank of West African States. The number of institutions authorized to operate in this sector rose from two in 2018 to 21 by the end of 2025, according to the BCEAO’s 2025 annual report. […]

In the Democratic Republic of Congo, mining companies are now required to reserve 10% of their share capital for Congolese nationals, in accordance with the revisions to the Mining Code adopted in 2018. The moratorium granted by the Ministry of Mines expired on July 31, paving the way for the implementation of this measure starting […]

Mozambique will allocate €1.2 billion, approximately $1.4 billion, to the rehabilitation and modernization of the Cahora Bassa hydroelectric dam. The ten-year program aims to strengthen the electricity production and transmission infrastructure of this strategic facility for Southern Africa. The investment will be made by Hidroeléctrica de Cahora Bassa, the public operator of the dam. The […]

The African Export-Import Bank, Afreximbank, announced on Friday the signing of three financing agreements totaling 190 million dollars in favor of CBZ Bank Limited, one of Zimbabwe’s leading commercial banks. This funding is intended to enhance the Zimbabwean bank’s capacity to finance businesses and commercial operations. The agreements aim to improve access to credit for […]

In the east of the Democratic Republic of Congo, civil society and human rights defenders from the Babila Babombi chiefdom in the Mambasa territory of Ituri have declared two days without activities starting Monday. This mobilization aims to protest against what local organizations denounce as the inaction of the authorities in the face of attacks […]

Togo wants to rely more on private capital to finance its economic transformation over the next fifteen years. The government gathered business organizations, companies, and donors in Lomé on Thursday, July 30, to define the private sector’s contribution to its Vision 2040 strategy. This roadmap aims to double the gross domestic product per capita. It […]

On Victoria Island, a coastal neighborhood in Lagos, trees and mangroves have almost entirely given way to buildings. In this Nigerian megacity of nearly 20 million inhabitants, the disappearance of wetlands heightens the risks of flooding and exposure to high temperatures. On a Saturday morning, about ten participants walked through the neighborhood under the guidance […]

In several Southern African countries, the burden of external debt limits the maneuverability of governments and weakens education funding. Budgets for schools and teachers are declining even as needs grow, particularly due to population growth and economic difficulties. Trade unions in the sector are calling for increased public investment to improve learning and working conditions. […]

In South Africa, the rise in electricity costs has increased companies’ interest in renewable energy. Solar power, combined with storage and wheeling, is becoming an increasingly sought-after solution to reduce dependence on the national grid. SolarAfrica, MPower, and Fledge Capital plan to develop a solar plant with a capacity of 184 megawatts associated with 300 […]