Debt & Political Risks: Glencore Is Mortgaging the Future of Africa’s ‘Oil-Cursed’ Countries

Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend money to resource-rich clients in financial distress – be it countries such as Congo, Chad, Morocco or Iraq‘s Kurdistan region…

Electric Vehicle Revolution Fueling Child Labor in Cobalt Mines in the Congo

Another case of “blood minerals” has been brewing in the Democratic Republic of the Congo, and indeed several African countries. It’s fueled by the hunt for cobalt to meet the growing appetite for electric cars around the world. The appetite for electric cars is driving a boom in small-scale cobalt production in the Democratic Republic of Congo,…

Africa’s Infrastructure Landscape to Change As Islamic Development Bank Joins Forces With China-Led AIIB Partnership

 Bandar Hajjar, IDB president: ‘We will co-finance many projects [with AIIB] in the future. Africa needs . . . about $150bn a year to finance infrastructure’  The largest development organisation in the Muslim world, the Islamic Development Bank, is set to ramp up its fundraising activities and form a partnership with the China-led Asian Infrastructure Investment Bank to address…