Author: The Editorial Staff

Emirates Global Aluminium (EGA), the parent company of Guinea Alumina Corporation (GAC), announced on Wednesday, July 9, 2025, the termination by the Guinean Government of its basic agreement with its Guinean subsidiary. A decision that according to GAC, will result in the loss of over 2,000 jobs, including employees and subcontractors. Since the fall of 2024, GAC operations have been suspended. The Guinean Government has blocked the exports of bauxite and the company’s access to the shared railway network. In addition, Compagnie des Bauxites de Guinée (CBG), a state-owned company, has stopped delivering bauxite to the United Arab Emirates. Since…

By Rodrigue Fenelon Massala On the sidelines of the United States-Africa summit convened by President Donald Trump and focused on critical minerals, Gabonese President Brice Clotaire Oligui Nguema marked a major diplomatic milestone. On July 8, 2025 in Washington, he oversaw the signing of a strategic agreement between the Gabonese government and the American company Millenial Potash. This partnership is for the development of the Mayumba potash deposit, located in the southern province of Nyanga, for a total amount of 500 million dollars. The first tranche of financing, estimated at 5 million dollars, will be dedicated to feasibility studies, before…

A heated controversy is currently pitting Azumah Resources Ghana Limited, the company holding the Black Volta mining project, against the Ghanaian company Exploration & Production Company Limited (E&P), over the development and financing conditions of this gold deposit located in the Upper West region of Ghana. In a statement released on July 9, 2025, Azumah Resources expressed concern over E&P’s public statements, which it describes as “misleading”, stating that they harm Ghana’s reputation in international mining investment circles. Azumah claims that, despite statements in the press, E&P has neither made a formal investment offer nor proposed concrete financing for the…

From July 7 to 8, 2025, Daniel Mukoko Samba, Vice Prime Minister and Minister of National Economy, led a high-level economic mission to Abu Dhabi (United Arab Emirates). This initiative is part of the Congolese government’s strategy to diversify its economic partnerships and structurally transform its mining and energy sectors. At the end of this mission, two non-disclosure agreements were signed between NG9 Holding, a leading Emirati multisector conglomerate, and two Congolese companies: – KIPAY Energy, carrying an ambitious hydroelectric and solar project with a total capacity of 166 megawatts in the province of Haut-Katanga. The project aims to address…

As part of the promotion of sustainable solutions in the packaging sector, the Association of Packaging Professionals in Ivory Coast (APECI) organized an Afterwork on June 27, 2025 in Cocody on the theme: “Packaging at the heart of the circular economy”. This meeting is part of the dynamics of the “Packaging Elephants 2025” competition, which...

The African insurance sector has recorded nearly 100 bankruptcies of insurers and reinsurers in the past 25 years, reveals the 2025 edition of the Global Catalogue of Bankrupt Insurers, published by the Property and Casualty Insurance Compensation Corporation (PACICC). Between 2000 and 2024, 96 African insurance and reinsurance companies, representing 9.9% of the global total,...

Guaranty Trust Holding Company (GTCO), Nigeria’s leading financial institution in terms of market capitalization, reached a historic milestone on Wednesday, July 9, by listing on the London Stock Exchange (LSE). It is the very first Nigerian bank to be listed on the main market of the British financial center. The group, valued at over 2.9...

Old Mutual Life Assurance Kenya (OMLAK) has appointed Martin Karenju as Chief Executive Officer and Managing Director, effective July 1, 2025. This strategic decision marks a new phase of consolidation and growth for the insurer, a subsidiary of the pan-African group Old Mutual Limited. With over 17 years of experience in African markets, Martin Karenju...

The China Development Bank (CDB) has granted a loan of 2.1 billion yuan (292.5 million USD) to the Southern African Development Bank (DBSA). The agreement was signed on Tuesday, July 8 in Rio de Janeiro, on the sidelines of the annual meeting of the BRICS interbank cooperation mechanism. This funding will support projects in strategic...

Independent power producer Globeleq, based in Cape Town, and its partner African Rainbow Energy have finalized the financing for the Red Sands project, a 153 MW / 612 MWh battery energy storage system (BESS) located in the Northern Cape province. The project secured financing of 5.4 billion rand (300 million USD), provided by Absa Bank...

The Malian justice system has made a decision in an emblematic case. Bouaré Fily Sissoko, former Minister of Economy and Finance, was sentenced to ten years in prison in the case of the presidential Boeing and military equipment. This verdict concludes nearly two years of complex legal proceedings, with significant symbolic importance in the fight...

Equatorial Coca-Cola Bottling Company (ECCBC) officially announced on July 8, 2025, the conclusion of a strategic agreement with Coca-Cola Beverages Africa (CCBA) and The Coca-Cola Company (TCCC) for the acquisition of two major entities: Voltic (GH) Limited and West African Refreshments Limited (WARL). Voltic, specialized in the water sector in Ghana, is a subsidiary of...

An important step towards opening up the northeast of the Democratic Republic of Congo was taken on Friday, July 4, 2025, with the signing of a $257 million concession contract. The agreement focuses on the rehabilitation and modernization of the Kisangani-Ubundu railway section, a strategic axis for national logistics. This partnership was concluded between the Congolese government and a consortium bringing together the South Korean company KECC and the Congolese company Masco Energies, with financial support from Equity BCDC bank. “We are happy to reach this milestone. With the feasibility studies completed and conclusive, we are now ready to enter…

The International Monetary Fund (IMF) Board of Directors has approved a new disbursement of $367 million to Ghana, as part of the fourth review of the Extended Credit Facility agreement. This payment brings the total financing allocated to the country to about $2.3 billion since the beginning of the program, according to a statement released...

In June 2025, the inflation rate in Tunisia remained stable at 5.4%, according to data from the National Institute of Statistics (INS) based in Tunis. “This stability is explained, on the one hand, by the acceleration in the rate of increase in prices of the Restaurants, cafes and hotels group (11% in June 2025 compared...

The Confederation of African Football (CAF) and Danone, a leading player in nutrition in Africa, announce the signing of an agreement making Danone an Official Partner of the TotalEnergies CAF Africa Cup of Nations (CAN), Morocco 2025 and the TotalEnergies CAF Women’s Africa Cup of Nations (Women’s CAN), Morocco 2024, which will take place in July and December 2025. This partnership strengthens Danone’s commitment to promoting health through nutrition on the African continent, where sport and nutrition play an essential role at all ages of life. A concrete presence at the heart of the competitions Building on its legacy from…

The year 2024 confirms the transformation of the global insurance landscape. According to GlobalData, the 20 largest listed insurers in the world recorded an average growth of 6.8% in their earned premiums, driven by a favorable interest rate environment, strong stock market gains, and a strong investment momentum in digital transformation and vertical integration. Here...

The State of Ivory Coast, through its Public Treasury, strengthened its budget by 296.999 billion CFA francs (535 million dollars) on July 8, 2025, through a simultaneous issuance of Treasury assimilable bonds (BAT) with a maturity of 364 days and Treasury assimilable bonds (OAT) of 3, 3 years (with a current coupon rate of 4.01%),...

Global Credit Ratings (GCR) has confirmed and upgraded several ratings of Shelter Afrique Development Bank (ShafDB), both internationally and nationally, acknowledging a significant improvement in its capital structure, risk management framework, and credibility with its shareholders. GCR also maintains a stable outlook on all ratings, reflecting strong prospects for the pan-African bank dedicated to affordable...

On Monday, July 7, 2025, the Federation of African National Insurance Companies (FANAF) opened its international seminar on the digitalization of insurance operations in the CIMA zone in Saly, Senegal. This high-level meeting, organized under the leadership of the Training Commission chaired by Mrs. Évelyne Fassinou, brings together a hundred participants from about ten African countries. Institutional actors, insurers, reinsurers, insurtechs, brokers, IT experts, and specialized lawyers gathered for three days of discussions on an issue that has become central to the sector: mastering the new requirements of Regulation 01/CIMA/PCMA/CE/2024, which came into effect last January. This fundamental text redefines…

Nestlé Côte d’Ivoire, a subsidiary of the multinational of the same name, will allocate on August 18, 2025, for the 2024 financial year, a total gross dividend of 16.457 billion CFA francs (29.623 million dollars) to its shareholders, announced the leaders of this company based in Abidjan. With 20,070,400 shares making up the company’s share...

BGFI Bank Côte d’Ivoire and SAAR Assurances Côte d’Ivoire have just concluded a strategic partnership, sealed on July 4, 2025 in Abidjan, for the launch of two new high value-added bancassurance products: “Job Loss Guarantee – Joker Employment” and “Unpaid Rent Guarantee – Joker Landlord”. This joint initiative aims to meet the growing financial protection needs of households and investors in an economic context marked by job insecurity and rental uncertainty. The “Job Loss Guarantee – Joker Employment” is a first in the Ivorian market. It covers loan installments in case of involuntary job loss of the policyholder, while also…

Dubai is preparing to host a decisive Congress in 2025 for the future of the global postal service. Among the major figures in the running, Isaac Gnamba-Yao, Director General of the Post of Côte d’Ivoire and current President of the Universal Postal Union (UPU) Board of Directors, stands out with a clear ambition: to give a new impetus to the UPU around the values of solidarity, fairness, and innovation. With over 26 years of experience in the postal, financial, telecommunications, and digital sectors, Isaac Gnamba-Yao is not just seeking a position: he embodies a vision. That of a strengthened UPU,…

Africa Specialty Risks (ASR), a pan-African provider of insurance and reinsurance solutions, has entered into a strategic partnership with the Nairobi International Financial Centre Authority (NIFCA) to support a $2 billion risk reduction initiative aimed at enhancing Kenya’s attractiveness to international investors. This partnership is part of a broader effort to position Nairobi as a...

The African Continental Free Trade Area (ZLECAf) is taking a decisive step towards operationalizing its ambitions. For the first time since its implementation, one of its key tools, the Adjustment Fund Credit Fund, has just granted a $10 million loan to Telecel Global Services Ltd, a subsidiary of the Telecel group based in Mauritius. This...

In a press release issued on July 7, 2025, the International Monetary Fund (IMF) announced that, with the Cameroonian authorities, it has reached an agreement at the staff level on the eighth reviews of the programs under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF), as well as on the third review...

Sabodala Gold Operations (SGO), the Senegalese subsidiary of Canadian group Endeavour Mining, invested 313 billion CFA francs ($521.7 million) in Senegal in 2024, representing 92% of its annual turnover, according to its general manager, Abdoul Aziz Sy. During the presentation of the group’s 2024 CSR report, Mr. Sy specified that local purchases (payments to national...

The Algerian insurance market generated a total volume of premiums of 56.9 billion Algerian dinars (approximately 439 million dollars) in the first quarter of 2025, marking an annual increase of 13.3%, according to data published by the National Insurance Council (CNA). This figure includes international acceptances as well as retakaful operations. The sector continues to...

Accra, Ghana – July 7, 2025 – The Board of Directors of the ECOWAS Investment and Development Bank (BIDC) has approved a $120 million financing facility for Engineers & Planners Limited (E&P), a leading local mining and construction company in Ghana, for the acquisition of the Black Volta gold mine. This transaction marks a significant step towards the creation of the first fully indigenous Ghanaian mining company, 100% locally owned, in line with global standards for local participation and sustainable resource development. This agreement, which began approximately 18 months ago, was formalized at a signing ceremony attended by senior government…

International oil companies BP and Shell have signed cooperation agreements with the National Oil Corporation (NOC) of Libya to conduct joint studies on the potential for oil and gas exploration and production in several oil fields, NOC announced in a statement on Monday, July 7th. The agreement with BP includes conducting technical studies to assess...