Africa Bound

Guinea’s junta has launched a sweeping crackdown on mining permits, abruptly revoking over 100 licenses for bauxite, gold, iron ore, and diamond projects in a bold move to “clean up” the sector. The decision targets firms accused of hoarding land without development or violating Guinea’s mining code.

In Senegal, drivers are feeling the pinch as fuel prices soar to the highest levels in the entire WAEMU region—even though the country pumped out 16 million barrels of oil in 2024. Government officials say relief is coming, thanks to plans to process oil locally and tap into natural gas reserves. But with living costs climbing and no visible change in sight, talk of strikes is starting to surface.

The first shipment of liquefied natural gas (LNG) from the Grand Tortue Ahmeyim (GTA) project, located offshore between Mauritania and Senegal, has been successfully loaded for export, marking a key milestone for both countries as they join the ranks of LNG-exporting nations.

West Africa’s economic grouping, ECOWAS, faces a new crisis as former chairman and Guinea-Bissau President Umaro Sissoco Embalo refuses to step down despite his mandate ending on February 27, 2025.  Embalo, who once criticized Sahelian coup leaders on behalf of ECOWAS, now defies the organization, even expelling its mediation delegation.