Business

Adding Value to Africa — in Africa

Africa remains largely a commodities exporter, despite the many ambitious plans launched — and, in some cases, realized — since independence. Countries that chose the Soviet path of development, such as Guinea, Ghana and Algeria, developed industries ranging from cotton processing to steel production, oil refining and food processing. But countries outside the Soviet bloc, …

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Access to Capital and the Risk of Default – Is Africa Being Too Harshly Assessed?

Africa needs capital to finance development. But does the way international ratings agencies assess African economies make that capital unnecessarily expensive? On October 7, the Mauritius-based Africa Credit Rating Agency (AfCRA) was officially launched, an initiative that has been years in the making. It has been driven by the African Peer Review Mechanism (APRM), with …

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Illegal Gold Extraction: A Continent-Wide Problem — Looking for Real Solutions

Illegal gold extraction is a continent-wide problem, depriving African states of significant revenue while causing severe environmental damage and creating opportunities for criminal networks. Repression alone has repeatedly failed to eliminate illegal gold operations, as demonstrated by Côte d’Ivoire’s experience over the past decade. Local communities have economic stakes in illegal gold extraction, with the …

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A Test of Loyalty: Niger’s Mutiny and the Shifting Sahelian Balance

A mutiny by Niger’s Special Forces against the Presidential Guard on 29 August was suppressed within 24 hours with Russian (Africa Corps) and Algerian military support. The episode exposes deep structural rifts and command weaknesses in the Nigerien army, undermining its ability to counter jihadist attacks near the capital. Algeria’s involvement is driven by three …

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The Sahel’s Endless War: Stalemate, Repression, and the Perils of Investment

Armed groups and Tuareg rebel movements continue attacks across Mali, Burkina Faso, and Niger. Neither side can win outright—insurgents lack the force to take capitals, while juntas cannot re‑establish full state control—resulting in a prolonged, stagnant, and geographically spreading conflict. The three military rulers are primarily focused on retaining power. Russia provides military hardware and …

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CAMEROON’S CLAN WARS AT THE VERY TOP DO NOT DETER INVESTORS – YET

The 93‑year‑old president has been away from Cameroon for over two months (in Geneva), fuelling succession speculation, though the government insists he remains in control. Biya has repeatedly rotated top generals, particularly after the 2023 Gabon coup, to discourage a military takeover; the immediate coup threat is considered low. Key players (Ngoh Ngoh, Mvondo Ayolo) …

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Ebola in DRC: Security Risks in Conflict Zones Outweigh Health Threats to Business

On 17 May, the WHO announced that a recent outbreak of Ebola disease in DRC and Uganda constitutes a public health emergency of international concern, although it does not meet the criteria for a pandemic. The ongoing outbreak, which is concentrated in the DRC’s Ituri province, is driven by the Bundibugyo strain of the virus, …

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Tanga or Mombasa? Dangote’s Refinery Gambit Tests EAC Diplomacy

On 4 May, Tanzanian President Samia Suluhu chastised her Kenyan counterpart, William Ruto, for announcing a planned oil refinery project in Tanga (Tanzania), claiming that she was not consulted. The planned refinery project is set to be funded by prominent Nigerian businessman Aligo Dangote to serve the East African Community (EAC) regional bloc. However, the …

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US Hits Kabila: Win for Tshisekedi, But M23 Withdrawal Hinges on Rwanda

On 30 April, the US sanctioned the DRC’s former President, Joseph Kabila (2001–2019), accusing him of funding the Rwanda-backed March 23 (M23) rebel group. The sanctions will boost President Felix Tshisekedi’s bargaining power, as he steps up efforts to co-opt sections of the M23 through a mix of intimidation and negotiation. This is likely to …

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Gold, guns, and patronage: Why DRC’s refinery reform may falter

On 9 April, Andre Wameso, the Governor of the Congo (DRC)’s Central Bank (BCC), announced that the BCC had received its first batch of refined gold from the country’s first gold refinery. This is part of the BCC’s first structured gold purchasing initiative, which is supposed to rely on the recently launched gold refinery in …

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