AGP Executive Report

Gold Mining: Perseus Mining shares jumped 8.7% after reporting quarterly production above plan, including output from its Yaouré and Sissingué mines in Côte d’Ivoire. It ended the quarter with US$900 million in cash and bullion. Banking: Nedbank completed its acquisition of a 66% stake in NCBA, gaining a regional network that includes a joint venture in Côte d’Ivoire. Exploration: Waraba Gold agreed to buy an exploration licence near Tengrela, expanding its Côte d’Ivoire land position; historical drilling results will need verification. Digital Finance: Cross-border payments platform Taja has passed 50,000 users and operates in Côte d’Ivoire and six other African markets. Energy: GE Vernova will supply a turbine for a 372-megawatt power plant near Abidjan, expected to begin operating in 2029. Cocoa: Ivorian researchers have developed 11 promising cocoa varieties designed to better withstand water stress, as climate change threatens a crop central to the country’s economy.

Cocoa Resilience: Côte d’Ivoire’s agronomic research centre has developed 11 promising cocoa varieties better able to withstand water stress, a significant effort for a crop that supports about five million people and 15% of the economy. Gold Investment: Perseus Mining says its September-quarter output exceeded plan, with its Yaouré underground operation reaching commercial production. Separately, Waraba Gold agreed to acquire an exploration licence near Tengrela, expanding its potential gold corridor. Digital Finance: Cross-border payments startup Taja has passed 50,000 users across seven African markets, including Côte d’Ivoire, and reports millions of dollars in monthly transactions. Energy: GE Vernova won a contract to supply a turbine for a 372-megawatt power plant near Abidjan, scheduled to start operating in 2029. Madagascar’s AXIAN has also secured up to $62 million for a solar project expected to power 240,000 people in Côte d’Ivoire.

Gold Mining: Perseus Mining says it remains on track for full-year guidance after producing 92,551 ounces in its first quarter; its Yaouré underground operation reached commercial production, and the company ended September with US$900 million in cash and bullion. Exploration: Canadian-listed Waraba Gold agreed to pay up to US$3.3 million for a Côte d’Ivoire gold exploration licence near Tengrela, potentially expanding its land position to about 1,000 square kilometres. Oil and Gas: TGS, PETROCI and Côte d’Ivoire’s hydrocarbons directorate have begun reprocessing 14,691 square kilometres of offshore seismic data to sharpen exploration targets. Power Investment: GE Vernova will supply a gas turbine and generator for a 372-megawatt plant near Abidjan, expected to begin operating in 2029. Food Prices: INTERPÊCHE set the price of a carton of mackerel at 31,500 CFA francs, down from 36,500, after protests over rising costs. Banana Trade: Fairtrade minimum prices for Côte d’Ivoire’s conventional and organic bananas will rise from January 2027, including to US$10.40 and US$12.50 per box, respectively, at the Ex Works level.

Gold Mining: Perseus Mining produced 92,551 ounces in the September quarter, beating plan, and reported US$900 million in cash and bullion. Its Yaouré underground operation reached commercial production, while the Nyanzaga project remains on track to start production by January 2027. Exploration: Canadian-listed Waraba Gold agreed to pay up to US$3.3 million for a nearby exploration licence, potentially expanding its Côte d’Ivoire gold position to about 1,000 square kilometres. Telecoms: IQSTEL closed the first tranche of financing for its planned 51% stake in Ultranet, a profitable telecom platform operating in Côte d’Ivoire and five other West African markets. Food Prices: INTERPÊCHE set the price of a carton of mackerel for traders at 31,500 FCFA, down from 36,500 FCFA, as authorities monitor the price cuts. Regional Power: Liberia’s electricity regulator and Abidjan-based TRANSCO CLSG pledged closer cooperation to strengthen cross-border electricity trade and the regional power system. Agriculture: Fairtrade’s 2027 minimum prices will lift Côte d’Ivoire’s conventional banana price floor by 3% and its organic floor by 2.5% at the exporter level.

Regional Energy: Liberia’s electricity regulator met TRANSCO CLSG in Abidjan to advance cooperation on the Côte d’Ivoire–Liberia–Sierra Leone–Guinea power link, with both sides stressing reliable supply and cross-border electricity trade. Food Costs: INTERPÊCHE set the price of a carton of chub mackerel for traders at 31,500 FCFA, down from 36,500 FCFA, as authorities prepare to monitor the cuts. Agricultural Exports: Fairtrade’s minimum prices for Ivorian bananas will rise from January 2027: 3% for conventional and 2.5% for organic bananas at the Ex Works level, with separate increases for FOB prices. Clean Energy Investment: A solar project backed by AXIAN, Africa Via and InfraCo has secured long-term debt from Dutch development bank FMO. Expected to start operating in 2028, it is projected to supply electricity for about 240,000 people.

Air Links: Air Côte d’Ivoire and Air France begin sharing codes on Paris–Abidjan flights, expanding the airlines’ partnership on a key business route. Banana Trade: Fairtrade minimum prices for Ivorian bananas rise from January 2027: conventional bananas increase 3% to US$10.40 per box at the farm gate, while organic prices rise 2.5% to US$12.50. Food Prices: INTERPÊCHE set the trader price for a carton of chub mackerel at 31,500 CFA francs, down from 36,500, after public protests over frozen-fish costs. Officials will monitor how the cuts move through the supply chain. UAE Investment: Ivorian and Emirati officials discussed expanding trade and investment cooperation, but announced no specific deals. Solar Power: A financing package of up to US$62 million is backing a solar plant expected to power about 240,000 people when it opens in 2028. Cashew Processing: Nigerian agribusiness Johnvents is seeking a proposed US$72 million IFC loan package to build a 30,000-tonne-a-year cashew plant in Côte d’Ivoire, pending approval.

Food Prices: INTERPÊCHE set the mackerel carton price for traders at 31,500 FCFA, down from 36,500 FCFA, after government talks on rising frozen-fish costs. Authorities will monitor whether the cuts reach consumers, with talks on other fish due to resume Monday. UAE Partnership: Côte d’Ivoire and the UAE discussed expanding trade, investment and economic cooperation during a meeting in Abidjan, but announced no specific deals. Solar Investment: A solar plant under construction is expected to generate 96 GWh annually from 2028, enough to serve about 240,000 people; its power will be sold to CI-ENERGIES under a 25-year agreement. Agribusiness: The IFC is considering up to $72 million in financing for Johnvents, including a proposed cashew-processing plant in Côte d’Ivoire with annual capacity of 30,000 tonnes. Air Links: Air Côte d’Ivoire and Air France are set to begin sharing codes on Paris–Abidjan flights from October 25, widening access to the route. Regional Finance: BRVM is pressing for more harmonised rules and connected trading systems to deepen cross-border investment in African capital markets.

Food Prices: INTERPÊCHE says a carton of mackerel will sell to traders for 31,500 FCFA, down from 36,500 FCFA, after protests over rising costs. Officials will monitor whether the cut reaches consumers. Renewable Energy: A $62 million financing package is backing an Ivorian solar plant expected to supply power to about 240,000 people when it starts operating in 2028. Agribusiness: Nigerian firm Johnvents is seeking up to $72 million from the IFC for processing plants in Nigeria and Côte d’Ivoire, including a cashew facility with annual capacity of 30,000 tonnes; the loan awaits approval. Air Travel: Air Côte d’Ivoire and Air France are set to begin sharing codes on Paris–Abidjan flights from October 25, a move that could broaden travel options on the route. Public Finance: Côte d’Ivoire awarded 93.499 billion FCFA in treasury bills and bonds, while the Mattei Plan has mobilized €639 million for the country.

UAE Ties: Côte d’Ivoire and the UAE discussed expanding economic, trade and investment cooperation during a meeting in Abidjan. Solar Investment: A solar plant backed by AXIAN secured long-term debt financing; due to start operating in 2028, it is expected to supply power for about 240,000 people. Food & Agriculture: The government and fish-sector businesses agreed to cut the price of 20-kilogram cartons of mackerel by CFA2,500, with monitoring planned to ensure consumers see the reduction. Côte d’Ivoire is also restructuring cocoa-cooperative financing to ease a 2025–26 liquidity crisis. Capital Markets: The state awarded CFA93.499 billion in treasury bills and bonds. Agro-processing: The IFC is considering up to $72 million in financing for Nigerian agribusiness Johnvents, including a proposed cashew-processing plant in Côte d’Ivoire with annual capacity of 30,000 tonnes. Air Links: Air Côte d’Ivoire and Air France are expanding their Paris–Abidjan codeshare from October 25.

Investment ties: Côte d’Ivoire and the UAE discussed expanding cooperation in trade, investment and other sectors during a meeting in Abidjan between Vice President Tiémoko Meyliet Koné and UAE Minister of State Sheikh Shakhboot bin Nahyan. Clean energy: AXIAN and its partners secured long-term financing for a solar plant under construction, expected to start operating in 2028 and generate enough electricity for about 240,000 people. Food prices: The government and fish-sector businesses agreed to cut the price of 20-kilogram cartons of chub mackerel and mackerel by CFA2,500, to CFA30,500; a monitoring commission will check that the reduction reaches consumers. Agribusiness: Johnvents is seeking up to $72 million in IFC financing for processing plants in Nigeria and Côte d’Ivoire, including a cashew facility with annual capacity of 30,000 tonnes. The proposal awaits board consideration in December. Business links: Air Côte d’Ivoire and Air France are set to begin sharing codes on Paris–Abidjan flights on October 25, expanding their partnership on the route.

Regional Power: Côte d’Ivoire and Liberia’s electricity regulators pledged closer cooperation on the CLSG interconnector, which supports power trade among Côte d’Ivoire, Liberia, Sierra Leone and Guinea. Food Prices: An agreement cuts 20-kilogram cartons of mackerel by 2,500 FCFA, to 30,500 FCFA; a monitoring commission will check that consumers see the reduction. Capital Markets: The BRVM says deeper African market integration needs harmonised rules as well as connected trading systems. Cybersecurity: Côte d’Ivoire joined an INTERPOL operation across 21 countries that arrested 1,462 suspects and recovered more than $105 million in illicit funds. Clean Energy: Dutch development bank FMO will provide up to $62.3 million for a 50-megawatt solar plant near Kong, expected to start operating in 2028. Finance and Cocoa: Côte d’Ivoire issued 93.499 billion FCFA in Treasury bills and bonds, while cocoa cooperative financing is being reworked to ease a liquidity crunch.

Food Prices: The government and fish-sector traders agreed to cut the price of 20-kilogram cartons of mackerel by CFA2,500, to CFA30,500. A monitoring committee will check that savings reach consumers. Cybersecurity: Côte d’Ivoire joined 20 other African countries in an INTERPOL crackdown that arrested 1,462 suspects and recovered more than $105 million, highlighting the growing risks to businesses from cybercrime. Renewable Energy: Dutch development bank FMO will provide up to $62.3 million for a 50-megawatt solar plant in northern Côte d’Ivoire, now under construction and expected to start operating in 2028. Public Finance: The government awarded CFA93.5 billion in treasury bills and bonds after bids exceeded the CFA85 billion on offer. Cocoa Trade: Authorities and the IDH partnership are working on new credit schemes to ease cooperatives’ liquidity crunch, which has delayed payments to farmers and disrupted bean purchases. Investment: Italy’s Mattei Plan mobilized €639 million for projects in Côte d’Ivoire. Air Travel: Air Côte d’Ivoire and Air France begin sharing codes on Paris–Abidjan flights on October 25.

Solar Investment: AXIAN and partners secured up to €55.5 million from Dutch development bank FMO to finance a 50-megawatt solar plant near Kong. Construction is under way, with operations expected in 2028. Government Borrowing: Côte d’Ivoire raised CFA93.5 billion in treasury bills and bonds, as investor bids exceeded the amount offered by 63%. Cocoa Supply: Authorities are redesigning credit schemes for cooperatives facing a liquidity crunch that has delayed payments to farmers and threatened bean purchases during the 2025–26 season. Air Links: Air Côte d’Ivoire and Air France begin reciprocal codesharing on Paris–Abidjan flights on October 25, giving passengers more booking options. Investment and Energy: Italy announced a €639 million financing package for projects in Côte d’Ivoire. Separately, Murphy Oil reported oil at its Bubale West-1X appraisal well offshore, supporting further evaluation of the discovery.

Cocoa Finance: Côte d’Ivoire is redesigning credit for cocoa cooperatives after financing gaps delayed farmer payments and disrupted bean purchases during the 2025–26 season. The Coffee and Cocoa Council and IDH are working on new lending schemes and more transparent cooperative accounts. Offshore Oil: Murphy Oil’s appraisal well in Block CI-103 found 27 metres of net oil pay in the Turonian reservoir, with additional hydrocarbons in a deeper layer; Petroci holds a 15% stake. Air Links: Air Côte d’Ivoire and Air France begin a reciprocal Paris–Abidjan codeshare on October 25, allowing both airlines to sell seats on each other’s flights. Business Rules: OHADA has made easier business financing, stronger corporate governance and digitalisation priorities for its 17 member states. Power Regulation: Henri Pépin Krou has taken over as head of ANARE-CI, pledging to modernise electricity regulation and balance consumer protection with the sector’s financial sustainability.

Corporate Governance: Renaissance Africa Energy won the Legal Company of the Year 2026 award at an Abidjan conference, recognised for governance, compliance and legal support for business growth. Power Investment: GE Vernova will supply a turbine for the planned 372 MW Songon gas plant near Abidjan, expected to support industry and household power needs and create up to 1,400 jobs. Separately, Dutch development bank FMO is providing €55.5 million for a 50 MW solar project in Kong, due to start supplying power in 2028. Air Links: Air Côte d’Ivoire and Air France begin reciprocal codesharing on Paris–Abidjan flights on October 25, expanding booking options; loyalty-programme links are planned by year-end. Regional Banking: Nedbank has completed its acquisition of a 66% stake in NCBA, which operates in Côte d’Ivoire and five other African markets, linking the Ivorian lender to a larger Southern and East African network. Cocoa: Ivorian researchers are developing climate-resilient cocoa varieties as irregular rainfall threatens production.

Banking: Coris Bank International Côte d’Ivoire has appointed Nikada Tchanguaï deputy general manager, overseeing support operations. Energy: GE Vernova will supply turbine technology for the 372-megawatt Songon gas plant near Abidjan, expected to create up to 1,400 jobs. Dutch development bank FMO is also providing €55.5 million in long-term financing for a 50-megawatt solar project in Kong, due to begin operating in 2028. Regulation: Henri Pépin Krou has taken over as head of electricity regulator ANARE-CI, pledging to improve efficiency, transparency and consumer protection. Aviation: Air Côte d’Ivoire and Air France launch reciprocal Paris–Abidjan codesharing on October 25, with loyalty-program benefits planned by year-end. Agriculture: Côte d’Ivoire is aiming to resume mango exports to the EU in 2027 after fruit-fly interceptions disrupted shipments.