THE ECONOMIC MAGAZINE OF NATURAL RESOURCES IN AFRICA
Barely recovered from the negative effects of the economic crisis and the restrictions imposed by the multinationals, the cocoa industry is once again facing an umpteenth challenge, power outages.
In West Africa, consolidation in the gold sector continues. After the successive takeovers of the junior Semafo and Teranga Gold by the British Endeavour Mining, it is now the turn of the Fortuna Silver Mines group to acquire its Canadian compatriot Roxgold, which is present in the sub-region.
The main source of activity in the subregion (60% of jobs) and at the heart of food security and national sovereignty issues the West African agricultural sector has been hit hard by the soaring prices of the main fertilizers.
In the battle over the Nile between Egypt, Sudan and Ethiopia, this may be the last chance for diplomacy and conciliation. The Congolese presidency announced on March 30 that Felix Tshisekedi will soon host a round of negotiations between Cairo, Khartoum and Addis Ababa over the Ethiopian Renaissance Dam.
The Ivorian banana industry remains on a positive note despite the crisis, retaining its position as the leading African producer.
Marked by uncertainty due to the Covid-19 pandemic, the year 2021 should confirm the yellow metal’s status as a safe haven, according to the World Gold Council (WGC).
Badly hit by the economic crisis caused by the Covid-19 pandemic, several African countries have seen their currencies depreciate over the past year. This unfavorable situation is a reminder, if need be, that the continent’s currencies are often vulnerable to external shocks. However, there are solutions, such as the exchange rate hedges offered by the Dutch development fund TCX, a financial vehicle designed to combat currency volatility in emerging countries. For Ressources, Isabelle Lessedjina, Senior Vice President at TCX, explains the concept of the fund as well as its ambitions for Africa.
Joanne Lebert, Executive Director of Impact: « Mining smuggling is more omnipresent than ever in the DRC ». »
Driven by a high price, African gold has never been in greater demand. A favorable situation that nevertheless contributes to reinforcing the illicit trade, denounces the Canadian NGO Impact, active on issues related to the governance of natural resources.