Mali reopens Barrick Gold office under court-appointed administrator
Barrick, which says it will appeal the ruling, has been at odds with Mali’s military-led government since 2023 over a new mining code that raises taxes and increases the state’s equity share
Niger union backs takeover of uranium mine
Union backs military government’s nationalisation of key uranium mine amid accusations of exploitation by French-owned Orano.
Uganda’s coffee earnings soar on strong harvest, shipments
Uganda posted a 92 percent increase in coffee earnings in May as export volumes surged on strong crop yields
US-Africa Summit opens in Luanda with key leaders
African leaders meet in Luanda for the US-Africa Business Summit to boost trade and investment opportunities
DR Congo extends cobalt export ban by 3 months
Congo’s agency ARECOMS said cobalt export suspension continues as market stocks remain high and will be reviewed before suspension ends
Italian, EU chiefs meet to boost Africa’s economy
Italy and the EU launch a multibillion euro plan to strengthen African economies and reduce illegal migration through trade and development.
Niger moves to nationalize uranium mine in escalating dispute
The Niger government moves to take full control of the French-run uranium joint venture Somair after relations with France deteriorate.
African diamond leaders pledge 1% for marketing
Botswana Namibia South Africa and Angola commit funds to global marketing to support the natural diamond industry and its communities.
Egypt Kuwait sells Delta stake to Wafa
Wafa Assurance will acquire a majority stake in Egypt’s Delta Insurance as it expands in the Egyptian market.
US, UK, and Congo launch new economic zone
Kiswishi City SEZ in Congo opens with $50 million investment from Pepsi and Congo Petrol boosting local economy and infrastructure.
Burkina Faso finalizes gold mine nationalization
Burkina Faso completes transfer of five gold mining assets to state ownership to boost control.
China to scrap tariffs on African exports in push to boost trade
The plan is expected to benefit more industrialized African nations with growing manufacturing capacity, such as Kenya, South Africa, Nigeria, Egypt, and Morocco
China increases lending to Africa under Belt and Road projects
As China funds infrastructure in Africa, experts question whether the rising debt could pressure countries into giving up critical assets.
Zimbabwe moves to ban lithium concentrate exports starting 2027
The export of lithium concentrates from Zimbabwe will end in 2027 as part of a national push for domestic value addition.
Export boom fuels Ethiopia’s optimism for next year’s economy
Ethiopia forecasts stronger economic growth and rising export earnings for the next fiscal year, while planning a slightly larger budget deficit amid ongoing debt talks.
Central Bank of Kenya lowers rate to 9.75%
Kenya’s central bank has lowered its key lending rate to 9.75 percent to promote economic growth and support lending to the private sector.
Aramco’s $5 billion loan to Nigeria hits a wall amid oil price fall
Falling crude prices and limited output complicate Nigeria’s oil loan negotiations with Aramco and other lenders.
IMF backs Senegal’s self-funding but probe continues
Senegal’s push for fiscal independence is praised by the IMF though the misreporting issue remains unresolved.
IMF praises Senegal’s tax drive but holds firm on debt case
The IMF supports Senegal’s efforts to improve tax compliance and reduce reliance on external debt but says it won’t affect the ongoing misreporting case.
Egypt’s foreign assets shrink after March IMF boost
Egypt’s net foreign assets dropped by $1.5 billion in April after a March increase following IMF approval and investor inflows into treasury bills.
UAE’s IRH buys controlling stake in Congo’s Alphamin
IRH acquired 56 percent of Alphamin Resources for $367 million to secure key mining assets in Congo’s Bisie mine, a major global tin producer.
Egypt reroutes Nile water to develop upscale desert city near Cairo
Egypt plans a new desert city west of Cairo supplied by diverted Nile water to support housing and agriculture.
South African rand eases after Thursday’s jump
Dollar strength and lingering concerns over U.S. fiscal debt and potential tariff hikes weighed on the currency, despite South Africa’s own supportive monetary signals
Afreximbank: Ghana is current on loans despite creditor tensions
Ghana’s current repayments to Afreximbank put it at odds with other lenders seeking losses amid debt talks.
AfDB taps Mauritania’s super banker Sidi Ould Tah as next chief
The African Development Bank group appointed Mauritania’s Sidi Ould Tah as its new president starting September.
SA central bank cuts rate as inflation stays low
South Africa’s central bank made a modest rate cut after April inflation undershot the target range again.
East Libya may stop oil over NOC pressure
Libya’s eastern government may declare force majeure on oil fields and ports citing assaults on the National Oil Corporation