Author: The Editorial Staff

Uganda’s clearly stated ambition is to establish itself as a major player in the production and export of gold. The inauguration, on Saturday, August 16, of the Wagagai gold mining project by President Yoweri Museveni is in line with this perspective. This is the first large-scale mine covering nine square kilometers in the Busia district....

Aramco, a global energy and chemical giant, has signed an $11 billion lease and leaseback contract with an international consortium of investors led by Global Infrastructure Partners (GIP), a subsidiary of BlackRock, around its Jafurah gas infrastructure. Located in eastern Saudi Arabia, Jafurah is the largest non-associated gas field in the Kingdom, with estimated reserves of 229 trillion standard cubic feet and 75 billion barrels equivalent. This project is at the heart of Aramco’s plan to increase its gas production capacity by 60% between 2021 and 2030 to meet growing demand. As part of the deal, a new entity, Jafurah…

The main economic indicators of the West African Economic and Monetary Union (WAEMU) showed an increase in June 2025 compared to the previous month, according to data from the Central Bank of West African States (BCEAO) based in Dakar. These data indeed indicate that commercial activities continued to grow, with a 5.8% increase in June...

The Cadyst Group announced, in a press release published on its website, that it has definitively acquired two subsidiaries of the Somdia Group on August 6, 2025. These are the Grand Moulin du Cameroun (SGMC), based in Douala, and the Grand Moulin du Phare (SGMP), an industrial unit present in Congo since 2020, located within...

The South African group MTN published half-year results on Monday, August 18 marked by a significant improvement in profitability and an upward revision of its growth prospects. After a 2024 year marred by the volatility of African currencies, the group is once again experiencing strong growth momentum, driven by its data and digital financial services...

In Nigeria, insurance companies have a twelve-month deadline, until July 2026, to comply with the new minimum capital thresholds introduced by the recent sector reform law, enacted in early August by President Bola Ahmed Tinubu. The National Insurance Commission (NAICOM), responsible for overseeing the implementation of these provisions, has announced the creation of an 11-member...

The Senegalese economy grew by 12.1% in the first quarter of 2025, driven by the start of hydrocarbon production. However, the execution report for the second quarter reveals the limitations of a budget still under strong structural constraints. Indeed, as of June 30, budget revenues reached 2,226.3 billion CFA francs (3.95 billion USD), nearly half...

Afriland First Bank is taking a new step in its commitment to education in Cameroon by launching the B-First program, an initiative that places academic excellence at the heart of its corporate social responsibility. In a context marked by persistent challenges in access to quality education, the bank aims not only to reward the best students, but also to sustainably improve learning conditions. Through this program, Afriland First Bank aims to award the fifty best secondary schools in the country based on results in the Baccalaureate and GCE A-level exams, honoring the top students in each class. In parallel, an…

The rainy season has settled well in the Senegal River basin, and significant rainfall has been recorded in early August in the Senegal River valley. These rains, combined with uncontrolled tributary inputs, have led to a rise in water levels in Bakel and Matam, where alert levels are likely to be reached in the coming days. We remind you that when the alert level is reached, river overflow may occur, especially in the event of new rainy episodes in the area. This Sunday, August 17 at 12:00: – In Bakel, the level is at 9.12m on the scale with a…

The Southern African Development Community (SADC) initiated, on August 13, 2025 in Antananarivo, Madagascar, a thorough examination of the modalities for creating a Dialogue Forum with the United States. This first edition of the SADC-United States Dialogue Forum marks a decisive step in a process initiated in February 2022, aiming to provide bilateral relations with...

To strengthen its financial autonomy and accelerate the transformation of its economy, the Democratic Republic of Congo has just equipped itself with a new instrument called “Strategic Investment Fund (FIS-RDC)”. This mechanism, approved on August 15, 2025 by the Council of Ministers, aims to mobilize innovative financing and channel resources towards priority projects in support...

Barrick Mining announced on August 11, 2025 a gold revenue of $4.79 billion in the first half, up 13.5% year-on-year, despite the suspension of its activities at the Loulo-Gounkoto mine in Mali since January. However, the Canadian company sold 1.52 million ounces of gold during the period, a decrease of 18% compared to 2024, directly...

The Central Bank of Egypt (CBE) received a high-level delegation from the Central Bank of Iraq (CBI) on August 14, led by Vice Governor Ammar Khalaf. Welcomed by his Egyptian counterpart Tarek ElKholy, the main objective of this mission was to strengthen the exchange of expertise in central banking operations. Bilateral discussions focused on institutional...

The US Department of the Treasury announced on August 12, 2025, sanctions against entities involved in violence and illegal mining exploitation in the Democratic Republic of Congo. All assets and interests held by the designated individuals, located in the United States or under American control, are now blocked. The assets and interests of individuals targeted...

Nedbank announced on Thursday, August 14, the acquisition of South African fintech iKhokha for 1.65 billion rand (USD 87.5 million) in an all-cash transaction, subject to regulatory approval and expected in the coming months. Founded in 2012 in Durban by Matt Putman, Ramsay Daly, and Clive Putman, iKhokha develops mobile payment solutions and business management...

Growth still lackluster, persistent inflationary pressures, prolonged effects of recent global shocks, and very limited fiscal space for governments: this is the bleak picture of persistent challenges in the 45 sub-Saharan African countries presented by the International Monetary Fund (IMF) in its latest report published in April on regional economic outlooks. To discuss this, Financial Afrik had an exclusive interview with Amadou Sy, Director of Studies in the IMF’s Africa Department. The economist discusses, among other things, the available policy tools for public decision-makers, and possible ways to promote inclusive and sustainable growth on the continent.

The Monetary Policy Council of the Central Bank of Mauritania (BCM), meeting on August 15, 2025 under the chairmanship of Mohamed-Lemine Dhehby, Governor of the BCM, decided to lower the key rate to 6%, setting the lending facility rate at 6.5% and the deposit rate at 2%. This decision comes in a context of marked disinflation: the year-on-year inflation rate dropped from 3.0% in July 2024 to 1.3% in July 2025. In these conditions, maintaining the previous level of rates would have led to an increasing gap between nominal and real rates, reinforcing the restrictive nature of monetary policy. With…

The sector report of the Communications Authority of Kenya indicates that the total number of mobile subscriptions has exceeded 74.9 million, surpassing the country’s population and bringing mobile penetration to 143%. Among these subscriptions, 42.3 million are smartphones, while 32.6 million are basic phones. This shift highlights an increasingly technophile consumer base, relying on mobile connections for a variety of services, from communications to digital finance. Domestic communication activities have experienced strong growth, with voice traffic reaching 28.8 billion minutes, up from 27.4 billion in the previous quarter. In parallel, SMS traffic has slightly increased, reaching 14.3 billion. These figures…

Libreville, August 15, 2025 – The BGFIBank Group announced the appointment of Mr. Rhinesse Katsou as Deputy General Manager of BGFI Holding Corporation SA. This decision, made during the Board of Directors meeting on August 14, 2025, comes in a context marked by the departure of Henri-Claude Oyima, CEO of the Group, recently called to join the government. The appointment of Rhinesse Katsou illustrates the Group’s desire to ensure a smooth transition and maintain its growth momentum. With a solid experience and in-depth knowledge of operations, he will be tasked with supporting the management in the implementation of the 2026-2030…

From Pretoria to Libreville, AfCFTA hindered by the awakening of nationalisms The government of President Brice Clotaire Oligui Nguema has announced the ban for foreigners – mainly Cameroonians, Nigerians, Malians, and other West African nationals – from operating small businesses. Presented as a measure to protect national operators, this decision is part of a strategy of “Gabonization” of urban economic circuits. Behind this, a political calculation: to attract an urban electorate often hostile to foreign competition in retail, a sector where the average profit margin can reach 20% but where rents and charges weigh heavily on margins. After the announcement…

The FINACTU Group announces the success of its exclusive advisory mandate to the AFG Group, a major player in the African financial sector, for the acquisition of Société Générale Guinea. This strategic transaction allows AFG to take control of a leading bank in the Guinean market, with over 100,000 clients and, as of the end of 2024, a total balance sheet of around 950 million euros, equity of 161 million euros, client resources of 744 million euros, and a loan portfolio of 357 million euros. For Léon Konan Koffi, Chairman of the Board of Directors of AFG Holding, this operation…

In Ivory Coast, cocoa figures are stubborn. In June, grindings increased by 2.2% year-on-year to 46,180 tonnes, but the cumulative total from October to the end of June stands at 475,764 tonnes, down 0.8% year-on-year, according to GEPEX, which brings together the six largest processors in the country. The regulator estimates the national capacity to...

Maputo, Mozambique – August 13, 2025 – Africa50, a pan-African infrastructure investor and asset manager, announced the first closing of the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD) at $118 million. This milestone marks a significant step in implementing climate-resilient and low-carbon infrastructure projects across the continent. The fund, managed by Africa50, aims to mobilize up to $400 million of mixed capital to finance the upstream development of transformative projects in strategic sectors: renewable energy, sustainable transport, water, and ICT. Launched at COP27 with the support of the African Development Bank (AfDB) and the African Union Commission,…

Algeria is on the verge of finalizing two major agreements with American giants ExxonMobil and Chevron as part of an ambitious strategy to exploit its immense shale gas reserves. With 3,419 trillion cubic feet in place, including 707 trillion technically recoverable, the country holds the third largest reserve in the world behind China and Argentina, nearly four times its proven conventional reserves. This potential represents a strategic lever to diversify production, strengthen exports, and meet the growing demand of markets, particularly in Europe. According to Bloomberg, discussions are at an advanced stage and should lead to official signatures in the…

During the week of August 11-15, African governments continued the trend of taking control of so-called strategic deposits. Faced with this sovereigntist and, for some, populist wave, major mining companies are mobilizing armies of lawyers while negotiating with states, redirecting their portfolios towards the safest assets, and reducing their presence in less productive segments. In the gas sector, BP, TotalEnergies, Shell, and Chevron are maintaining or adjusting their positions, often favoring offshore acquisitions (less conflictual, more segmented) over onshore. Here is the summary of the week. Niger – Orano: showdown over an arbitrator In the dispute between the Nigerien State…

Cotonou, August 12, 2025 – The Interbank Monetization Group of the WAEMU (GIM-WAEMU) and the National Treasury of Benin (TPN) have officially launched the regional prepaid card “RoW”, the first of its kind issued by a Treasury in the WAEMU space. Accessible to all, without the need to open a bank account, this modern, secure, and interoperable card works in the eight member states of the Union. The RoW card allows to withdraw money from all ATMs connected to the GIM-WAEMU network, to pay on POS terminals, to make online purchases, to initiate transfers via mobile, and to track its…

Nigeria is embarking on one of the most ambitious infrastructure projects in its contemporary history: the construction of a high-speed rail network spanning 4,000 kilometers, connecting the western corridor (Lagos) to the eastern corridor (Port Harcourt) and incorporating several strategic regional links. The route, currently being finalized, is designed to accommodate trains running at commercial speeds of 200 to 250 km/h, with a fully electrified double-track infrastructure. The most densely populated sections are expected to incorporate an ETCS level 2 signaling system (European Train Control System), coupled with centralized traffic control. The planned trains would be electric multiple units (EMU)…

Designed in the 16th century by the Flemish cartographer Gerardus Mercator to facilitate maritime navigation, the Mercator projection distorts the true proportions of the planet. It significantly enlarges areas near the poles, such as North America or Greenland, while compressing those near the equator, like Africa and South America. Thus, a Greenland of 2.16 million km² appears almost the size of the African continent, which actually spans 30.3 million km² and could contain Greenland fourteen times over. For many experts, this visual distortion contributes to maintaining a mistaken perception of Africa as a “marginal” space, when it is actually the…

Maputo, Mozambique – August 14, 2025 – The General Shareholders Meeting (GSM) of Africa50, held under the high patronage of Mozambican President Daniel Francisco Chapo, brought together African and international public and private decision-makers in Maputo around a clear ambition: to accelerate the financing and implementation of strategic infrastructure on the continent. At the heart of the discussions was the recognition of Mozambique’s role as an energy and logistics hub for Southern Africa, and the desire to build catalytic partnerships in energy, digitalization, and regional integration. Three major agreements were signed: – Electricity transmission: project development agreement between Africa50 and…

Thunderclap in Lomé: Alain Nkontchou snatches Ecobank from under all his rivals’ noses The surprise is total. Ecobank Transnational Incorporated (ETI) announces the signing of an agreement between Nedbank Ltd. and Bosquet Investments Ltd, according to a press release dated August 15, 2025. The sale, concluded by Bosquet Ibvestments Ltd, the private vehicle of Alain Nkontchou, concerns 21.22% of the capital. Thus, the former Chairman becomes the master of the ship… or almost, as the operation still awaits regulatory approval. The backstage is just as strategic: Enko Capital Management LLP advised on the operation, Absa Bank Limited (Corporate & Investment…