Afrique Monitor

A joint geological expedition by Russia and Zimbabwe has led to significant discoveries in Zimbabwe's Magondi belt, shedding light on Earth's crust evolution in the region. The mission established two environmental monitoring stations and included the study of rock samples and ecosystem histories. The University of Zimbabwe and Russia’s MGRI collaborated, with Russian geologists also sharing expertise on kimberlite pipe detection for diamond exploration. For full details, visit Business Insider Africa’s article. https://lnkd.in/evtvRK6v

Ethiopia has started constructing what will be Africa’s largest airport, set for completion by 2029 near Bishoftu, 45 km from Addis Ababa. Planned to accommodate 100 million passengers annually, the project aligns with Ethiopian Airlines' expansion, including its recent order of 124 new aircraft. This ambitious development underscores Ethiopia's position as a leading aviation hub in Africa. For more details, see Business Insider Africa’s article. https://lnkd.in/e43qdC5m has started constructing what will be Africa’s largest airport, set for completion by 2029 near Bishoftu, 45 km from Addis Ababa. Planned to accommodate 100 million passengers annually, the project aligns with Ethiopian Airlines' expansion, including its recent order of 124 new aircraft. This ambitious development underscores Ethiopia's position as a leading aviation hub in Africa. For more details, see Business Insider Africa’s article. https://lnkd.in/esrh8kdQ

Moniepoint recently joined the list of African unicorns after raising $110 million, placing it among the top 10 most valuable African startups. Other notable names include Flutterwave at $3 billion, Opay at $2.7 billion, and Chipper Cash at $2.2 billion. The rankings highlight the resilience of the African tech ecosystem, especially in fintech, health tech, and e-commerce, despite economic challenges. For the full list,https://lnkd.in/ec7xUrVS

Botswana’s general election on October 30 will see President Mokgweetsi Masisi of the Botswana Democratic Party (BDP) seek re-election amid a slowing diamond market and economic challenges. His main opposition comes from Duma Boko of the Umbrella for Democratic Change (UDC). The BDP, in power since 1966, faces criticism over unemployment and economic management, though a divided opposition may work in its favor. Masisi’s term saw reforms like a new diamond contract with De Beers. For further details, see the full article on Reuters. https://lnkd.in/ezzUHg44 Botswana’s general election on October 30 will see President Mokgweetsi Masisi of the Botswana Democratic Party (BDP) seek re-election amid a slowing diamond market and economic challenges. His main opposition comes from Duma Boko of the Umbrella for Democratic Change (UDC). The BDP, in power since 1966, faces criticism over unemployment and economic management, though a divided opposition may work in its favor. Masisi’s term saw reforms like a new diamond contract with De Beers. For further details, see the full article on Reuters. https://lnkd.in/ezzUHg44

Ghana may soon source fuel from Nigeria’s Dangote Oil Refinery instead of importing it from Europe, potentially saving around $400 million monthly. According to Mustapha Abdul-Hamid, head of Ghana's National Petroleum Authority, this shift could lower Ghana’s fuel costs by reducing transport expenses and help stabilize prices of other goods. With the refinery nearing full capacity, it could provide Ghana with a more affordable, regional fuel source. For more details, read the full article here. https://lnkd.in/ePz4eT7f

Ghana’s Foreign Minister, Shirley Ayorkor Botchwey, has been elected as the new Commonwealth Secretary-General during the Commonwealth Heads of Government Meeting in Apia, Samoa. Succeeding Patricia Scotland, Ayorkor Botchwey is the first African to hold the position in two decades. Known for her extensive experience, she has served as Ghana’s Foreign Minister since 2017 and has led various diplomatic initiatives. Her appointment was widely supported, including endorsement from the African Union. For further details, visit the full article here. https://lnkd.in/eDiAPEB8

Zambia is taking major steps to boost its copper mining industry by seeking partnerships with private investors to develop promising new mining permits. While the government will retain majority ownership of key assets, joint ventures will help drive production, aiming for an ambitious 3 million tonnes of copper by 2031. With companies like Barrick Gold and First Quantum Minerals already playing significant roles, this initiative signals Zambia’s commitment to becoming a global copper powerhouse. Read more: https://lnkd.in/dEu8fdq5

Meta's Layoffs Reflect New Trends in Tech Industry Workforce Management The tech industry is seeing a shift in layoff strategies, as companies like Meta, Google, and Microsoft now focus on smaller, recurring cuts, rather than large-scale layoffs. This change aims to redirect resources to key growth areas like AI. However, experts caution that such layoffs can harm employee morale and are not a sustainable strategy long-term. Despite these cuts, hiring continues in specific areas, particularly in AI, signaling evolving workforce needs in the tech space. Read more: https://lnkd.in/ebsuyhEs Layoffs Reflect New Trends in Tech Industry Workforce Management The tech industry is seeing a shift in layoff strategies, as companies like Meta, Google, and Microsoft now focus on smaller, recurring cuts, rather than large-scale layoffs. This change aims to redirect resources to key growth areas like AI. However, experts caution that such layoffs can harm employee morale and are not a sustainable strategy long-term. Despite these cuts, hiring continues in specific areas, particularly in AI, signaling evolving workforce needs in the tech space. Read more: https://lnkd.in/eADQE3Xt

East Africa Leads Economic Recovery in Africa (2024) According to the World Bank’s Africa Pulse study, East Africa is experiencing the highest economic growth in Africa, with the East African Community (EAC) showing a 4.7% growth rate in 2024 and a projected 5.7% in 2025–2026. Key contributors to this recovery include: Kenya: Expected 5% growth in 2024, boosted by a strong currency, improved tourism, and agricultural recovery. Rwanda, Tanzania, and Uganda also played vital roles in the region's performance. This growth highlights East Africa’s resilience and strengthening economic climate amid global challenges. Read more: https://lnkd.in/esEnRv7t Africa Leads Economic Recovery in Africa (2024) According to the World Bank’s Africa Pulse study, East Africa is experiencing the highest economic growth in Africa, with the East African Community (EAC) showing a 4.7% growth rate in 2024 and a projected 5.7% in 2025–2026. Key contributors to this recovery include: Kenya: Expected 5% growth in 2024, boosted by a strong currency, improved tourism, and agricultural recovery. Rwanda, Tanzania, and Uganda also played vital roles in the region's performance. This growth highlights East Africa’s resilience and strengthening economic climate amid global challenges. Read more: https://lnkd.in/eee7FFyX

Top 10 African Countries for Best Business Climate in 2024 The World Bank’s B-READY 2024 report highlights the top African nations with the most attractive business environments. The report, which replaces the Doing Business project, assesses countries on regulatory frameworks, quality of public services, and operational efficiency. 🇷🇼 Rwanda topped all three categories in Africa: 1st in Regulatory Framework (70.35 points) 1st in Public Services (67.37 points) 1st in Operational Efficiency (81.31 points) Other top performers include: 🇹🇬 Togo, 🇲🇦 Morocco, 🇲🇺 Mauritius, 🇬🇭 Ghana, and 🇧🇼 Botswana. This reflects Africa’s progress in creating business-friendly climates that attract foreign investment. Read more: https://lnkd.in/eeCtSXzu