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Guinea : is Simandou project poised for growth? [Business Africa]

Business Africa

In this new episode of Business Africa, what will happen to the iron ore from Mount Simandou, a project that has been halted halfway through and should eventually enable Guinea to double its gross domestic product?

In Guinea, Mount Simandou is said to contain the world's largest undeveloped iron ore deposit, except that work on the mine has been plagued by scandals for decades. So why is the Simandou mine so important to the Guinean economy and what is blocking its completion?

Factoring services gaining grounds in Africa

Afreximbank and FCI, the global receivables financing organization, are trying to promote factoring in Central Africa. It allows SMEs to have faster access to financing. In Africa, Egypt, Tunisia and South Africa are leaders in this field. 

Zimbabwe, Tobacco sales continue to grow

Zimbabwe is one of the six largest tobacco producers in the world. In 2021, the country exported more than 200 million kg, which places it in the top 3 of tobacco leaf exporting countries. Our correspondent Saskia Violette followed the opening of the sales season.