Business

GOLDEN DREAMS

Why Managem hopes to double its production of West African gold

After launching its gold mine in Guinea, the Moroccan group has bought several gold projects in West Africa, with the aim of doubling its production ... in the coming years.

value trap

Nigerian equities are on the road to nowhere without currency reform

Frontier markets have seen an improvement in sentiment prompted by an end to China’s zero-Covid policy. But, Nigeria’s dual-currency regime ... and the access restrictions imposed on investors mean that Nigerian equities are missing out.

CHEQUEBOOK DIPLOMACY

South Africa: Just Transition’s partners should do more, says Finance minister Godongwana

South Africa’s $8.5bn Just Energy Transition partners, including the US, could do more and should factor greater grant funding in the pledged ... package deal, says Finance minister Enoch Godongwana.

VOLTE-FACE

Niger: Faced with users’ grumbling and regulator’s order, Airtel, Moov and Zamani drop prices

Niger's telecoms regulator has called on operators to lower their rates in the face of widespread grumbling over the introduction of floor prices. ... The situation is emblematic of the years of regulatory and fiscal inconsistency in this sector.

Business top stories

Crown Joules

India’s Husk seeks up to $90m for Nigeria, Africa solar mini-grid expansion

joint-venture

In DRC, it’s all about the zinc mines in Upper Katanga

Grim Logic

Nigeria’s weak commodity output signals higher 2023 food inflation: AFEX

Crown Joules

India’s Husk seeks up to $90m for Nigeria, Africa solar mini-grid expansion

joint-venture

In DRC, it’s all about the zinc mines in Upper Katanga

Grim Logic

Nigeria’s weak commodity output signals higher 2023 food inflation: AFEX

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Shedding New Light

GridX Africa plans solar-power expansion in DRC, Kenya

East African corporate solar power supplier GridX Africa is expanding to the Democratic Republic of Congo (DRC) and plans to ramp up its presence ... in Kenya, CEO Chalker Kansteiner tells The Africa Report.

Multiple rates

Zimbabwe: Currency sliding as inflation foreseen to hit 400% by year’s end

Despite promises by Zimbabwean Finance Minister Mthuli Ncube to stabilise the southern African country’s currency, it keeps plunging with the ... Reserve Bank of Zimbabwe (RBZ) auction results showing that the exchange rate stands at Z$732 against the US dollar, up from Z$705 last month.

TURNING TIDE?

South Africa: Bonds, equities poised to gain from US downside risks

Renewed investor appetite for risk and yield, coupled with a cooldown on US assets, could benefit South Africa, a proxy for emerging markets, ... Bank of America Global Research experts say.

Super Food

Nigeria’s AgroEknor bets gluten-free fonio can become global mainstream health food

Fonio is the most famous health food that the West has never heard of. A Nigerian company is betting that the gluten-free grain can break through ... into the global mainstream.

Article 10/11 of "Africa in 2023"

Behind the scenes

How Wamkele Mene made African free trade a priority at the World Economic Forum

In the last three years, the world saw the onslaught of Covid-19 followed by the conflict in Ukraine. Meanwhile, the African Continental Free ... Trade Area (AfCFTA) continued to chug along. Wamkele Mene, Secretary General of the AfCFTA Secretariat, defended the organisation at the World Economic Forum, where he benefited from British think tank Odi. We break it down.

Peace Dividend

Ethiopia: Domestic debt can be a remedy for Eurobond stress

Ethiopia’s fledgling market in debt securities is helping to improve the sustainability of public debt even as the share of domestic debt increases, ... analysts say.

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