Finance
Senegal’s Power Cuts Force Government to Push Gas as the Long-Term Fix
Senegal’s energy minister says the power cuts that hit the country hard in September have made one thing clear: the country cannot keep...
Barrick Reaches Deal With Mali Unions to Avert Strike at Loulo-Gounkoto as Government Tightens Grip on Gold
Barrick Mining has signed a new collective bargaining agreement with unions at its Loulo-Gounkoto gold complex in western Mali, averting strike action that...
Nigeria Grows 2.3 Million Tonnes of Tomatoes and Still Spends $360 Million Importing Paste
Nigeria is Africa’s second-largest tomato producer. The country grows about 2.3 million tonnes of tomatoes every year, and its farmers account for roughly...
Burkina Faso Opens First Gold Refinery to Process Its Own Gold
Burkina Faso has opened its first gold refinery, a move the military government says will allow the country to process more of its...
Tinubu Seeks Fresh $1.5bn World Bank Loan as Nigeria’s Debt Hits Record N166.79tn
President Bola Tinubu’s administration has opened fresh discussions with the World Bank for three new loans totalling $1.5 billion, even as Nigeria’s public...
World Bank Pledges $25m for Nigeria’s $300m Off-Grid Power Fund, Leaving $275m Unaccounted For
The World Bank has committed an initial $25 million to Nigeria’s newly launched $300 million Distributed Renewable Energy Fund, a contribution that represents...
Traore Launches $30 Million Textile Complex to Cut Burkina Faso’s Reliance on Clothing Imports
Burkina Faso’s military leader, Captain Ibrahim Traore, has inaugurated a $30 million textile complex in Bobo-Dioulasso, a project his government presents as a...
Senegal to Reprofile Debt Rather Than Restructure, Prime Minister Says
Senegal’s Prime Minister Ahmadou Al Aminou Lo has told parliament that the West African nation will not pursue a formal restructuring of its...
BudgIT Exposes N6.93 Trillion in Questionable Projects Inserted Into Nigeria’s 2026 Budget
A comprehensive analysis by BudgIT, a civic technology organisation promoting transparency in public finance, has uncovered that lawmakers inserted 11,122 unvetted projects worth...
Senegal Starts Countdown to First African Default Since 2023 as $5 Billion Bond Restructuring Looms
Senegal has begun the countdown to what could become Africa’s first sovereign default since Ethiopia reneged on its debts in 2023, after the...
Major Foreign Companies That Have Exited Nigeria in Recent Years
Over the past five years, Nigeria has witnessed an unprecedented exodus of multinational corporations, with more than 70 companies leaving the country between...
Oyedele Claims Nigeria Is on Track for $1 Trillion Economy While Millions Cannot Afford Food
Minister of Finance Taiwo Oyedele has declared that Nigeria is on track to become a $1 trillion economy by 2030, citing 4.43 per...