AGP Executive Report

Mining & Investment: Zijin Gold’s planned $5.5bn takeover of Allied Gold has collapsed over missed China approvals, but Zijin will still inject about $295m for a 9.2% stake—Allied says proceeds will support ramp-ups at its Ivory Coast operations and further exploration. Oil & Gas Engineering: Saipem says it won over $3bn in Eni-related awards in July, including a Baleine Phase 3 offshore Ivory Coast contract covering engineering, pipeline and subsea installation work over ~3 years. Industrialisation & Value Addition: Durban’s SADC Industrialisation Week put the spotlight on stopping raw mineral exports and pushing beneficiation, echoing an Abidjan AfDB forum with the same message: more processing on the continent, more value kept locally. Gold Exploration in Côte d’Ivoire: Montage Gold reports ongoing drilling at its Wendé project, with results extending mineralisation at the Bobosso target and plans to move toward a maiden resource. Digital Payments (Abidjan): AfricaNenda trained journalists in Abidjan to help drive adoption of inclusive instant payments, aiming to cut the high cost of cross-border transfers. Transport Connectivity: Etihad and Air Peace signed an interline deal, adding 20 destinations across Nigeria, West and Central Africa and improving access to Abidjan.

Mining & Investment: Zijin Gold and Allied Gold have scrapped their planned $5.5bn takeover, letting the July 29 deadline lapse, but Zijin will still take a 9.2% stake via a ~$295m investment; Allied says it will use proceeds to ramp up Ivory Coast output and fund exploration. Côte d’Ivoire Exploration: Montage Gold says its Wendé greenfield project is advancing toward a maiden resource, with drilling confirming mineral continuity at the Bobosso target and expanding known gold mineralization. More Côte d’Ivoire Gold Funding: Awalé Resources has closed about $19m in strategic financing for exploration at its Odienné project, adding Predictive Discovery as a third strategic shareholder alongside Fortuna and Newmont’s JV support. Oil & Gas Engineering: Saipem won over $3bn in Eni-related awards in July, including a Baleine Phase 3 offshore contract for Ivory Coast covering subsea and pipeline installation work. Digital Payments & Industry Skills: AfricaNenda trained journalists in Abidjan to report on inclusive instant payments, pushing for better public understanding as cross-border payment costs remain high. Business Finance (Regional): Perseus Mining reported record cashflow and a higher cash & bullion position to $1.03bn in its June 2026 quarter. Logistics & Trade: CMA CGM reported solid Q2 results, citing shipping, terminals and air cargo growth despite geopolitical volatility.

Mining & Investment Shock: Allied Gold’s planned $5.5bn takeover by China’s Zijin has collapsed, with the deal deadline expiring and Zijin pivoting to a ~9.2% stake via a US$295m strategic investment—an important signal for Côte d’Ivoire-linked gold production plans. Oil & Gas Engineering: Saipem landed about $911m in Eni-related work, including major Baleine Phase 3 subsea/pipeline installation offshore Côte d’Ivoire plus a biorefinery unit contract in Italy—good news for industrial services and local supply chains. Exploration in Côte d’Ivoire: Montage Gold says drilling at its Wendé greenfield property is confirming and extending mineralization at the Bobosso target, aiming for a maiden resource as it advances programs and expands permits. Industrial Finance for Exploration: Awalé Resources closed a ~$19m private placement to fund exploration at its 100%-owned Odienné project in Côte d’Ivoire, boosting cash to over $35m and adding Predictive Discovery and Fortuna as strategic shareholders. Digital Payments & Media: AfricaNenda trained journalists in Abidjan to help Africans understand and trust inclusive instant payments—supporting fintech adoption that underpins industrial growth. Policy for Value Addition: Solid Minerals Minister Dele Alake urged an end to raw mineral exports, pushing local processing and Africa-led reporting standards.

Offshore Energy & Engineering: Saipem won about €911m ($911m) in Eni contracts, including major subsea pipeline and flowline work for the Baleine Phase 3 development offshore Côte d’Ivoire, using vessels FDS and Shen Da in a roughly three-year program—another signal of sustained industrial activity around Abidjan’s hydrocarbon frontier. Mining & Local Value Addition: At the AfDB ministerial forum in Abidjan, Nigeria’s Dele Alake and partners pushed for an end to exporting raw minerals, backing local processing, shared cross-border hubs, and African control of mineral data/reporting standards. Agribusiness & Commodities: Cocoa and coffee price moves keep investors watching West Africa’s harvest outlook; dry spells and sunshine are improving prospects in Côte d’Ivoire’s cocoa regions even as global supply signals remain mixed. Trade & Logistics: CMA CGM reported solid Q2 results, citing shipping volumes, terminals, air cargo and logistics resilience amid geopolitical uncertainty. Finance & Payments: A policy-focused report says cross-border payments in Africa remain costly due to fragmented rules and heavy dollar dependence—highlighting a bottleneck for regional trade. Water Infrastructure Planning: ECOWAS confirmed Abidjan will host the first West Africa Regional Water Forum (Sept 24–25) to set a roadmap for sustainable, cross-border water management.

Oil & Gas Contracts: Saipem secured about €800m ($911m) in new work with Eni for Côte d’Ivoire’s Baleine Phase 3 offshore development, covering ~50km of rigid pipelines plus subsea systems over a three-year program, while also winning a Venice biorefinery deoxygenation unit contract tied to biofuels. Minerals Value Addition: At the AfDB ministerial forum in Abidjan, Solid Minerals Development Minister Dele Alake urged an end to exporting raw minerals and called for local processing, regional cross-border hubs, and Africa-led mineral data/reporting standards under the Abidjan Declaration. Regional Water Infrastructure: ECOWAS announced Abidjan will host the first West Africa Regional Water Forum on Sept. 24–25, aiming to set a roadmap for sustainable management of transboundary water resources that underpin agriculture, energy, industry and social services. Supply Chain & Trade Skills: Registrations opened for the 2026 African Supply Chain Confederation (ASCON) conference in Livingstone, Zambia (Sept. 23–25), focused on industrialisation, technology and breaking trade barriers under AfCFTA. Cocoa & Legal Risk: A US lawsuit targets Lindt & Sprüngli over alleged child-labour claims in West African cocoa supply chains, adding pressure on brands and processors as cocoa prices swing with supply conditions. Food & Inputs Watch: India’s rice exports rose 5% in H1 2026, with non-basmati shipments up on demand from African markets—an affordability signal for importers. Visa Operations: The US will stop routine visa processing at 25 African posts from Aug. 1, redirecting applicants to regional hubs including Abidjan and Lagos, reshaping travel and business planning.

Water & Industry Planning: ECOWAS says Abidjan will host the first West Africa Regional Water Forum on Sept. 24-25, aiming to set a cross-border roadmap for sustainable water management—positioning water as a driver for agriculture, energy, industry and social development. Offshore Energy Contracting: Eni has expanded Saipem’s role on Côte d’Ivoire’s Baleine Phase 3, covering engineering through installation of ~50 km of rigid pipelines and major subsea systems over up to 1,300m water depth, using vessels FDS and Shen Da for a three-year program. Mining Value Addition Push: At an AfDB-backed ministerial forum in Abidjan, Nigeria and partners backed a Lagos-to-Dakar minerals processing corridor and the Abidjan Declaration, stressing local beneficiation, regional cooperation, strategic financing and mineral data sovereignty. Cocoa Supply Signals: Cocoa prices slid as global supply looked heavier, with Ivory Coast shipments up and inventories rising—an important read for Côte d’Ivoire’s agro-industrial planning. Mining Finance Update: Awalé Resources says Fortuna Mining exercised participation rights, keeping equity in the Odienné project and boosting cash for exploration in Côte d’Ivoire.

Offshore Energy Deal for Côte d’Ivoire: Saipem won two Eni contracts worth $910m, including Baleine Phase 3 offshore engineering and installation in Côte d’Ivoire, with work on rigid pipelines, subsea systems and a multi-year drilling push. Minerals Value-Addition Push (Abidjan): Nigeria and the AfDB used a ministerial forum in Abidjan to back stronger African control of critical minerals via local processing, regional corridors, strategic financing and mineral data sovereignty, with the Abidjan Declaration adopted. Cocoa Industry Pressure: The Ivory Coast–Ghana Cocoa Initiative welcomed a Nigeria summit aimed at boosting processing and farmer gains, while Swiss chocolatier Lindt faces a US lawsuit alleging misleading consumers and insufficient action on child labour in West African cocoa supply chains. Africa Infrastructure Finance: Emerging Africa and Asia Infrastructure Fund says blended finance is unlocking long-term capital for energy and transport across West Africa, with a growing focus on renewables and rural electrification. Tech/Trade Logistics: DHL highlights how digital customs and AfCFTA-driven trade systems are cutting border delays and improving supply-chain visibility across Africa.

Critical Minerals & Value Addition: Nigeria’s Dele Alake and the AfDB used Abidjan to push Africa to stop exporting raw minerals and instead scale local processing, regional corridors (Lagos–Dakar) and stronger control of mineral data, backed by strategic financing and the Abidjan Declaration. Offshore Oil & Gas Capacity: Saipem says a 20,000-tonne drillship, the Santorini, is heading to Côte d’Ivoire under a $260m Eni Côte d’Ivoire contract, with an extended drilling programme starting early 2027—another signal for the country’s expanding offshore work. Batteries & Industrial Jobs: The AfDB approved a €100m loan for Gotion Power Morocco to build Africa’s first integrated lithium iron phosphate gigafactory, targeting 10 GWh then scaling to 100 GWh and creating 600+ jobs in phase one. Cocoa & Supply Chain Pressure: Cocoa prices bounced on short-covering and weaker dollar, while Swiss chocolate maker Lindt faces a US lawsuit alleging child labour in Ghana and Ivory Coast cocoa sourcing—raising reputational and compliance risks for West African cocoa value chains. Air Connectivity: Etihad and Air Peace signed an interline deal linking Abu Dhabi with 20+ Nigerian and regional destinations, improving passenger flow into West Africa and onward connections to Abidjan and beyond.

Offshore Energy Deal: Eni Côte d’Ivoire’s contract with Saipem will deploy the 20,000-metric-tonne drillship Santorini for West African development drilling, with a firm programme starting in early 2027—another signal of Côte d’Ivoire’s push to deepen offshore production. Industrial Finance: The AfDB approved a €100m loan for Gotion Power Morocco to build Africa’s first integrated lithium iron phosphate battery gigafactory in Rabat-Salé-Kénitra, targeting 10 GWh in phase 1 and 70% local integration—an industrial benchmark for the region. Cocoa & Supply Chain: Cocoa futures bounced after a sell-off, but the bigger story is fundamentals: Ivory Coast shipments are up and inventories are at a two-year high, keeping pressure on prices. Ethics & Trade Risk: Swiss chocolatier Lindt faces a US lawsuit alleging child labour in cocoa sourced from Ghana and Ivory Coast, raising reputational and compliance risks for West Africa’s cocoa value chain. Connectivity: Etihad and Air Peace signed an interline agreement to link Abu Dhabi with multiple Nigerian and regional destinations including Abidjan—boosting passenger and business travel flows. Policy/Services: The US will centralize routine visa processing into regional hubs, with Abidjan and other West African cities included.

Offshore Energy Contract: Eni Côte d’Ivoire’s award to Saipem will deploy the 20,000-tonne drillship Santorini for West African development drilling, with an extended programme starting early 2027—another signal of Côte d’Ivoire’s push to scale offshore production. Batteries & Industrialization: The AfDB approved a €100m loan for Gotion Power Morocco to build Africa’s first integrated lithium iron phosphate (LFP) gigafactory, targeting 10 GWh in phase 1 and up to 100 GWh later, with 600+ direct jobs and high local integration. Smart Logistics: DHL highlights how “smart logistics” cuts border delays and improves visibility for faster, more predictable cross-border cargo—key for industrial supply chains across the region. Cocoa Market Watch: Cocoa prices bounced on short-covering and a softer dollar, but the bigger story remains abundant supplies and rising inventories, with Ivory Coast shipments up year-on-year. Human Rights & Cocoa: Swiss chocolate maker Lindt faces a US lawsuit alleging child labour links in Ghana and Ivory Coast, despite its ethical sourcing claims—raising pressure on West African cocoa value chains. Connectivity Deal: Etihad and Air Peace signed an interline agreement to sell single-ticket travel across Nigeria, West/Central Africa and the UAE, including onward links to Abidjan.

Battery & Industrial Finance: The AfDB approved a €100m loan for Gotion Power Morocco to build Africa’s first integrated lithium iron phosphate (LFP) battery gigafactory in Rabat-Salé-Kénitra, targeting 10 GWh in phase 1 and up to 100 GWh, with 600+ jobs and a 70% local integration goal. Industrial Policy & Trade: Ethiopia used the AU STC meeting in Abidjan to push its 10-year development plan and reforms to boost manufacturing, mining, agriculture, and private-sector-led growth, alongside tax base expansion and exchange-rate reforms. Smart Logistics: DHL highlights how digital customs and single-window style systems are cutting border clearance times and costs, improving visibility and predictability for cross-border cargo. Air Connectivity: Etihad and Air Peace signed an interline deal to sell single tickets across Nigeria, West/Central Africa and the UAE, including onward links to Abidjan and Lagos/Accra. Cocoa Market Watch: Cocoa prices bounced on short-covering and a softer dollar, but supply remains heavy with Ivory Coast shipments up and inventories at a two-year high. Supply-Chain Scrutiny: Swiss chocolatier Lindt faces a US lawsuit alleging child labour in cocoa from Ghana and Ivory Coast, despite its ethical sourcing claims. Agriculture & Seeds: AfricaRice (based in Côte d’Ivoire) is cited for storing rice seed accessions in the Global Seed Vault, supporting long-term genetic preservation. Regional Industrial Push: Tanzania backs faster African industrialisation at the AU STC in Abidjan, calling for better access to finance, capital markets, and trade/investment links.

Air Connectivity Boost: Etihad Airways and Air Peace signed an interline agreement linking Abu Dhabi with Air Peace’s domestic and regional network, giving single-ticket access to cities including Lagos, Accra, Abidjan, Dakar, Bamako and more—good news for West Africa travel and business links. Cocoa & Supply Chain Pressure: Swiss chocolate maker Lindt was sued in a US court over alleged child labour in cocoa sourced from Ghana and Ivory Coast, raising reputational and compliance risks for West African cocoa supply chains. Cocoa Market Watch: Cocoa prices bounced after a recent sell-off, but the bigger story remains abundant global supplies and rising inventories—key for Côte d’Ivoire’s farmers and processors. Agriculture Knowledge Transfer: AfricaRice (based in Côte d’Ivoire) is highlighted for seed preservation work, with Côte d’Ivoire-linked rice seed accessions stored in global vault systems supporting long-term resilience. Industrial Policy Push: Tanzania joined AU talks in Abidjan focused on speeding up industrialisation via better finance access, trade links and minerals/industry cooperation. Visa Services Update (Business Travel): The US announced regional visa processing hubs starting Aug. 1, 2026, with routine services centralized at posts including Abidjan and Accra—relevant for cross-border executives and investors.

Cocoa & Compliance: Swiss chocolate giant Lindt & Sprüngli is hit with a new U.S. lawsuit over alleged child-labour links in its Ghana and Ivory Coast cocoa supply chain, with the complaint accusing the firm of misleading consumers about its ethical sourcing efforts; Lindt denies the claims and says it investigates suspected cases. Cocoa Markets: Cocoa prices are sliding again on signs of abundant supply and softer demand, with Ivory Coast port shipments reported up year-on-year and exchange inventories rising, keeping pressure on near-term prices. Aviation Connectivity: Etihad and Air Peace sign an interline deal to expand one-ticket travel across Nigeria and parts of West and Central Africa, including Abidjan and Accra, boosting regional passenger flows. Industrial Policy & Finance: Tanzania joins an AU meeting in Abidjan pushing faster African industrialisation through better access to finance, trade links, and capital-market reforms. Energy Transition: A report flags Nigeria’s rapid growth in small-scale solar, while utility-scale renewables lag—an issue for grid reliability and broader investment. Regional Sports Media: WAFU Zone B appoints Tophic Abdul Kadir as media officer for the 2026 U-20 championship in Côte d’Ivoire, running July 26–Aug 10.

Cocoa & Food Industry: Cocoa prices slid again as tepid demand and ample supply kept pressure on the market, with Ivory Coast port shipments reported up and exchange inventories near multi-year highs—bad news for processors and exporters trying to plan production and margins. Supply-Chain & Compliance: Swiss chocolate maker Lindt is facing a U.S. lawsuit alleging it misleads consumers about child labor in Ghana and Côte d’Ivoire, even as it points to certification and supplier protocols—another reputational and legal risk for West Africa’s cocoa value chain. Mining & Investment (Côte d’Ivoire): Awalé Resources reported new high-grade gold-copper results from its Odienné project, expanding the underground growth case and reinforcing investor interest in Côte d’Ivoire’s extractives. Energy & Infrastructure (West Africa): ECOWAS-backed momentum continues for the $25bn Nigeria–Morocco gas pipeline, but security and protection across many jurisdictions remain the big operational question. Industrial Policy (Regional): Tanzania joined AU talks in Abidjan focused on speeding Africa’s industrialization through finance, trade links, and capital-market reforms. Agrifood Innovation (West Africa): NourishNext launched a youth agrifood challenge for fruit and vegetable value chains, aiming to unlock scalable solutions in Benin, Nigeria, Senegal, and Côte d’Ivoire.

Cocoa Value Push: Four African cocoa giants (including Côte d’Ivoire) signed a “From Bean to Brand” alliance in Abuja to end raw bean exports and push shared quality standards, investment in processing plants, and stronger bargaining power—aiming to capture more of the chocolate value chain. Cocoa Market Watch: Cocoa prices slid to fresh lows amid mixed demand signals (weaker Europe grindings, stronger North America and Asia) while Ivory Coast shipments rose and inventories climbed—keeping pressure on prices. Mining & Security: An ACLED report says Sahel jihadist groups are increasingly exploiting mining economies to fund operations, control road networks, and expand influence, with JNIM and Islamic State-linked groups tied to mining-adjacent violence. Energy Transition (Nigeria): A BloombergNEF report flags Nigeria’s fast growth in small-scale solar, but warns utility-scale renewables lag because grid and investment bottlenecks block bigger electricity gains. Ivory Coast Mining Update: Awalé Resources reported high-grade deep drilling at its Odienné project (gold-copper), expanding the underground growth case for the BBM deposit. Regional Governance: ECOWAS approved new appointments for 2026–2030 across its Commission, Court of Justice, and health institutions. ECOWAS Football Hosting: WAFU Zone B named Ghana’s Tophic Abdul Kadir as Media Officer for the 2026 U-20 Championship in Côte d’Ivoire.

Cocoa Market Watch: Cocoa prices slid to fresh 2-month lows as tepid global demand met ample supply—Q2 European grindings fell 4.6% while Ivory Coast shipments rose 21% and ICE inventories hit a 2-year high, keeping pressure on prices. Energy & Regional Security: ECOWAS-backed momentum is building for the $25bn Morocco–Nigeria Atlantic gas pipeline, but analysts warn the real test will be securing a long corridor across many countries and maritime zones. Agri-Food Innovation: NourishNext West Africa 2026 launches a youth agrifood challenge focused on fruit and vegetable value chains in Benin, Nigeria, Senegal and Côte d’Ivoire, with mentorship and seed funding for scalable solutions. Cocoa Value Addition Push: Four major cocoa producers signed an alliance to end raw bean exports and boost local processing, aiming to capture more of chocolate’s value through shared standards and investment in plants. Digital Infrastructure in Côte d’Ivoire: Starlink received final approval to operate, alongside authorisation for a US-backed sovereign data centre, digitisation platform and border tech—broadening broadband and cloud investment in one package. Mining Update (Odienné): Awalé Resources reported deep gold-copper results at its Odienné project, expanding the underground growth thesis with high-grade intercepts from the BBM deposit. ECOWAS Appointments: ECOWAS approved new commissioners and judges for 2026–2030, including an Ivory Coast internal services commissioner, signaling fresh institutional leadership across the bloc.