Energy du Mali SA, the state energy company of Mali, is in talks with banks to restructure its 600 billion CFA franc ($989 million) debt. Mali continues to experience incessant power cuts across the country's major cities affecting businesses and key economic activities. The country's energy
Sovereign Debt
The Nigerien government missed a 13.4 billion CFA franc ($22 million) principal payment on a one-year bond due in February 2024. Why is this important: The West African country was subject to a coup last year, resulting in The Economic Community of West African States( ECOWAS) suspending all
Sustainability Finance, Cote d'Ivoire
The International Monetary Fund and Côte d'Ivoire have agreed to a $1.3 billion Resilience and Sustainability facility to fight climate change. Why is this important: Côte d'Ivoire is the top cocoa producer in the world, and its agriculture sector is exposed and vulnerable to climate
BlackRock's Climate Finance Partnership, a public-private finance fund, has acquired a 12.5 per cent stake in Kenya’s Lake Turkana Wind Power (LTWP) from Danish turbine manufacturer Vestas. Why is this important: The 310-megawatt (MW) Lake Turkana Wind Power farm, which supplies renewable energy to
Uganda has signed a development agreement with the Westgass International and Industrial Promotion Services (IPS) for a $400 million hydrogen fertiliser plant. Why is this important? In 2021, Uganda imported $37.94 million worth of fertiliser, according to the United Nations COMTRADE database, which has increased over the years. The
Economics
Monetary Policy, Economics
Zimbabwe is exploring options to create a new currency board to stabilise the Zimbabwean dollar and link it to hard assets like gold. The Zimbabwe dollar has lost 94% of its value since January 2023. The government recently introduced a ' structured currency' to address the rapid devaluation of
Sports, South Africa
The South African Rugby Union (SARU), the governing body of the Spingboks, has received a $75 million investment from Ackerley Sports Group, subject to approval by the SARU members. Why is this important? The business of Sports is becoming an emerging trend across the world, from football to Golf. Most
Bonds
Kenya seems confident they can repay the $2 billion Eurobond due in June. Let's go deeper: The country has a debt profile of around $61.5 billion, which is around 67 per cent of its gross domestic product( GDP), with a 29 per cent currency devaluation against the
Finance
Global financial services firm Mastercard has acquired a minority stake in the Fintech business of MTN Group Limited, the South African multinational corporation and mobile telecommunications provider. Let's go deeper: MTN's CEO indicated last year that the company was willing to sell 30% of the fintech
Economics
Zambia, like Botswana and the Democratic Republic of Congo, is trying to implement a new economic playbook, selling its commodities directly to buyers. Why is this important: The current revenue-sharing model, where mining rights are allocated to companies like First Quantum Minerals and Barrick Gold to operate the mines
infrastructure
The Africa Development Bank (AfDB) is keen to get the $309 million Kenya/Tanzania electricity deal agreed. Why is this important: Kenya imports hydroelectricity from Ethiopia and Uganda, while Tanzania rations power due to low hydro generation. The tripartite deal will boost the electricity supply and cut reliance on expensive