Finance

Tunisia
African Union scolds Tunis after Saied attack on sub-Saharan migrants

Several African Union member countries have expressed discontent with Tunisia after President Kais Saied's controversial statement on sub-Saharan African migrants.

South Africa
Ramaphosa regime hikes production royalty rates as oil law still pending

A hike in South Africa's minimum production royalty rate from 0.5% to 2% for oil and gas companies got a cold reception from the energy sector, which deems that other matters such as finally passing a new oil law should have taken priority.

Gabon
Meridiam, Eramet and Veja among Macron's business delegation in Libreville

French President Emmanuel Macron will travel to Gabon on 2 March to take part in the One Forest Summit. He will be accompanied by a large business delegation that includes Meridiam, Veja and Eramet

Ivory Coast
Afreximbank picks PR firm Concerto for its Ivory Coast branch

The French PR firm Concerto is set to head up institutional communications and carry out some PR work for Afreximbank's Ivory Coast branch.

DRC
Business and culture on the agenda for Macron in Kinshasa

French President Emmanuel Macron's official visit to DR Congo will be a busy one on March 4.

Kenya
World Bank grants extra $117m for education reform

The World Bank has granted additional financing of $117m for the Kenya Primary Education Equity in Learning Program (KPEELP), which is currently being implemented by the Kenya education ministry.

The New Guard
The New Guard: Angola, Morocco, Madagascar and Kenya

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

AngolaWalter Pacheco, the rising star of Angolan finance

MoroccoMeryem Rami Yahyaoui, the trade minister's international asset

MadagascarMarie-Christina Kolo, eco-feminist and climate activist in chief

KenyaAngel Mbuthia, Madame President

Egypt
Contractors pair up for $400m Cairo metro revamp

Siemens, Alstom and Colas Rail will team up with Egyptian construction giants to finalise their offers on the $400m Cairo's metro Line 1 renovation contract.

Kenya
Mount Kenya Foundation business club members divided over support for Odinga

Some business leaders who financed the unsuccessful election campaign of opposition leader Raila Odinga are ready to provide fresh funds to pay for the protest meetings he is staging against the government. Yet some fear the government could retaliate.

Morocco
Ithmar Capital lobbies European Union

Moroccan investment fund Ithmar Capital joined the EU's transparency register in December 2022 with its sights set on climate policy.

DRC
Public debt has nearly doubled under Tshisekedi

The DRC's public debt has risen from $5.6bn to $10bn since Felix Tshisekedi came to power four years ago. The number of new projects has increased sharply, while budget arrears have continued to accomulate.

East Africa
Plot thickens in Helin International money laundering investigation

In a case involving allegedly misappropriated funds from the wealth management fund being investigated in several jurisdictions, it has emerged that Russian-Swiss investor Aleksei Korotaev recently attempted to capture assets from these Helin International accounts, despite being scrutinised by US investigators.

Madagascar
Rio Tinto argues its case with Raojelina

The January meeting between the mining giant's chairman, Dominic Barton, and the Madagascan president may result in both sides backing off a little. Rio Tinto is seeking to defuse tensions as it negotiates the renewal of its Fort Dauphin licence.

Africa
Hackers spread panic amongst African banks

African banks including Banco Sol & Bank of Africa have been targeted by cyber attacks recently. The hackers have threatened to make their data public, a threat which worries those in power who are clients of the banks.