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Africa’s venture-capital market shrunk by whooping 40% in 2023, as startups struggle

The African venture-capital (VC) market witnessed a 40% drop in funding from the previous year in the first six months of 2023, reflecting cautious investor sentiment and sparking concerns for startups’ future. In the first half of 2023, a mere 263 VC deals were executed, collectively accounting for $2.1 billion, which represents a 40% decline […]

Barrick Gold waves production halt in Mali due to regulatory dispute

Barrick Gold, the second largest gold mining company globally, said it mulls stopping production at its mine in Mali if the ban on shipments was not lifted. The company made the threat in reaction to measures by Bamako authorities to renegotiate the permit in order to have a bigger share of operations in the gold […]

Morocco raises insurance tax to bolster natural disaster fund

Morocco’s government will implement a significant increase in the parafiscal solidarity tax on insurance contracts, raising the rate from 1 percent to 1.5 percent. The amendment, scheduled for approval by decree at this Thursday’s Council meeting, aims to strengthen the nation’s disaster response capabilities following recent catastrophic events. The additional revenue will flow directly into […]