Ivory Coast

Africa launches a new gold standard currency plan backed by minerals

Africa's Development Bank proposes a new "gold standard" style currency arrangement, backed by minerals like cobalt and copper, as well as lithium, manganese, and some of the rare earths that are key to the energy transition in the world and electric vehicles. African Development Bank reported that the 54-nation area, which contains about 30% of critical mineral reserves in the world, only attracts 3% of all global energy investments every year. The AfDB said that this is partly due to the volatile currency markets on the continent. It is proposing an "non-circulating" currency, called African Units of Accounts (AUA), which

Environment

African nations look for to connect 300 mln individuals to power by 2030

Leonardo, BF partner up with Italy govt for farming jobs in Africa

Italian aerospace company Leonardo and agroindustrial group BF signed a deal with the federal government on Friday to offer farming jobs to numerous African countries as part of Rome's. development plan for the continent. The accord becomes part of the so-called Mattei strategy, a group of. initiatives aimed initially at helping financial growth in 9. countries consisting of Morocco, Tunisia, Egypt and Algeria, which. the Italian federal government hopes will curb immigration flows. This month Prime Minister Giorgia Meloni stated her government. would extend the four-year strategy to Angola, Ghana, Mauritania,. Tanzania and Senegal, bringing the variety of countries to

Fossil Fuels

Cocoa tops global products rally for second year, steel components battle on China need

Lack of rain, heat stress Ivory Coast cocoa farmers

Farmers in the majority of Ivory Coast's cocoa growing regions said on Monday they were concerned about the absence of appropriate rains and the heat, which could weigh on the development of the OctobertoMarch primary crop. The world's top cocoa producer is in its dry season which runs from mid-November to March, when downpours are limited. Farmers in practically all regions other than the western among Soubre, where rainfall was well above average, and Abgoville in the south, where rains were a little second-rate, stated the weather could hurt little pods that will be harvested in February and March. Farmers

Climate Change

World Bank ventures into debt swaps with Ivory Coast education deal

The World Bank stated on Thursday it had helped Ivory Coast release a debtforeducation swap in a landmark initially transaction for the Washingtonbased loan provider. The Ivory Coast federal government will redeem 400 million euros ($ 423 million) of its most costly commercial financial obligation due in the next five years with the help of a business loan raised at a. lower interest rate, a longer maturity and a grace duration thanks. to a partial World Bank warranty, it stated in a declaration. The debt swap will maximize around 330 million euros over the. next five years and create savings

Ivory Coast to establish $500 mln green financing fund