World
S&P Assigns B+, Stable Outlook to Guinea
By Adedapo Adesanya
The rating agency, Standard & Poor’s (S&P), has assigned an inaugural rating of “B+” with a “Stable” outlook to the Republic of Guinea.
This decision reflects the strength of the country’s economic fundamentals, strong growth prospects driven by the integrated mining and infrastructure Simandou project, and the rigor in public financial management.
As a result, Guinea is now above the continental average and makes it the third best-rated economy in West Africa.
This rating is also an essential prerequisite for the implementation of the Simandอน 2040 Program, as it facilitates Guinea’s access to international financing.
“The attribution of the B+ rating marks a new beginning for Guinea. It demonstrates that our reforms are bearing fruit and that the Guinean State is now a reliable partner and an emerging destination for international investors,” stated Mr Djiba Diakité, Minister, Chief of Staff to the President of the Republic, and Chairman of the Simandou Strategic Committee.
According to statement, the Guinean government said the S&P report highlights particularly dynamic growth prospects, based notably on the performance of the mining sector. Guinea is already among the world leaders in bauxite (world #1) and gold, and is preparing to occupy a leading position in iron ore with the imminent launch of the Simandou project, expected to become the world’s largest iron mine.
The deposit stands out for its high-grade ore (65 per cent), which is set to contribute to the decarbonization of global industry and the world economy. According to S&P, between 2026 and 2028, Guinea could experience GDP growth of nearly 10 per cent per year, far exceeding the regional average.
S&P also emphasized the structural transformation efforts undertaken by the Guinean authorities.
The agency commended the priority given to local value addition and underlines that infrastructure investments linked to Simandou will generate positive spillovers across the entire economy.
This integrated approach, formalized within the framework of the Simandou 2040 Socio-Economic Program, reflects, in its view, the authorities’ determination to diversify the economy, modernize institutions, promote local content, and strengthen human capital, notably through the “Simandou Academy” initiative.
On the fiscal front, S&P noted the country’s demonstrated budgetary discipline. The public deficit is projected to remain below 3 per cent of GDP over the 2025-2028 period, supported by higher revenues and the digitalization of the tax administration. Public debt, which stood at 44 per cent of GDP in December 2024, benefits from a favorable structure with long maturities and controlled rates.
Also, inflation in the country has sharply declined, falling from 11 per cent (2020-2022) to around 3.5 per cent currently.
S&P also highlighted Guinea’s strong international partnerships, both with multilateral donors and the private sector. Ongoing discussions with the International Monetary Fund (IMF) for a new program are seen as a factor of stability and confidence.
Guinea also recently completed a GDP rebasing exercise led by the National Institute of Statistics with the support, among others, of AFRISTAT, the IMF, the World Bank, and the African Development Bank, allows for better accounting of previously under- or unmeasured sectors.
Nominal GDP was revised upward by about 50 per cent, to $36.3 billion in 2024, making Guinea the second-largest economy in Francophone West Africa, with a revised lower debt ratio (30.5 per cent in December 2024). These rebased GDP statistics will be integrated by S&P in their analyses as of their next rating review.
“The Guinean State welcomes this inaugural rating, which constitutes a decisive milestone in the rollout of the Simandou 2040 program. This rebasing also provides us with a solid foundation to better plan, better invest, and enhance Guinea’s attractiveness to investors.
“These elements will enable the Republic of Guinea to mobilize the international financing needed to carry out its strategic projects and thereby accelerate the country’s economic transformation for the benefit of the entire population,” noted Mr Diakité.
By Kestér Kenn Klomegâh
Africa stands at the cusp of a transformative digital revolution. With the expansion of mobile connectivity, internet penetration, digital platforms, and financial technology, the continent’s digital economy is poised to become a significant driver of sustainable development, intra-Africa trade, job creation, and economic inclusion.
The African Union’s Agenda 2063, particularly Aspiration 1 (a prosperous Africa based on inclusive growth and sustainable development), highlights the importance of leveraging technology and innovation. The implementation of the African Continental Free Trade Area (AfCFTA) has opened a new chapter in market integration, creating opportunities to unlock the full potential of the digital economy across all sectors.
Despite remarkable progress, challenges persist. These include limited digital infrastructure, disparities in digital literacy, fragmented regulatory frameworks, inadequate access to financing for tech-based enterprises, and gender gaps in digital participation. Moreover, Africa must assert its digital sovereignty, build local data ecosystems, and secure cyber-infrastructure to thrive in a rapidly changing global digital landscape.
Against this backdrop, the 16th African Union Private Sector Forum provides a timely platform to explore and shape actionable strategies for harnessing Africa’s digital economy to accelerate intra-Africa trade and sustainable development.
The 16th High-Level AU Private Sector forum is set to take place in Djibouti, from the 14 to 16 December 2025, under the theme “Harnessing Africa’s Digital Economy and Innovation for Accelerating Intra-Africa Trade and Sustainable Development”
The three-day Forum will feature high-level plenaries, expert panels, breakout sessions, and networking opportunities. Each day will spotlight a core pillar of Africa’s digital transformation journey.
Day 1: Digital Economy and Trade Integration in Africa
Focus: Leveraging digital platforms and technologies to enhance trade integration and competitiveness under AfCFTA.
Day 2: Innovation, Fintech, and the Future of African Economies
Focus: Driving economic inclusion through fintech, innovation ecosystems, and youth entrepreneurship.
Day 3: Building Policy, Regulatory Frameworks, and Partnerships for Digital Growth
Focus: Creating an enabling environment for digital innovation and infrastructure through effective policy, governance, and partnerships.
To foster strategic dialogue and action-oriented collaboration among key stakeholders in Africa’s digital ecosystem, with the goal of leveraging digital economy and innovation to boost intra-Africa trade, accelerate economic transformation, and support inclusive, sustainable development.
* Promote Digital Trade: Identify mechanisms and policy actions to enable seamless cross-border digital commerce and integration under AfCFTA.
* Foster Innovation and Fintech: Advance inclusive fintech ecosystems and support innovation-driven entrepreneurship, especially among youth and women.
* Policy and Regulatory Harmonization: Build consensus on regional and continental digital regulatory frameworks to foster trust, security, and interoperability.
* Encourage Investment and Public-Private Partnerships: Strengthen collaboration between governments, private sector, and development partners to invest in digital infrastructure, R&D, and skills development.
* Advance Digital Inclusion and Sustainability: Ensure that digital transformation contributes to environmental sustainability and the empowerment of marginalized communities.
The AU Private Sector Forum has held several forums, with key recommendations. These recommendations provide valuable insights into the challenges and opportunities facing the African private sector and offer guidance for policymakers on how to support its growth and development.
By Kestér Kenn Klomegâh
Lukoil, Russia’s energy giant, has seriously lost its grounds across Africa, due to United States sanctions. Sanctions have complicated the company’s potential continuity in operating its largest oil field projects, grappling its investment particularly in Republic of Ghana, Democratic Republic of Congo, and Federal Republic of Nigeria.
Reports indicated the sanctions are further dismantling most of Lukoil’s operations, causing significant staff layoffs in its offices worldwide. For instance, Lukoil’s significant upstream operations in the Middle East include a 75% stake in Iraq’s West Qurna 2 oilfield and a 60% stake in Iraq’s Block 10 development. In Egypt, the company holds stakes in various oilfields alongside local partners.
Lukoil has until December 13, 2025, to negotiate the sale of most of its international assets, including those in Asia, Africa and Latin America. It has already terminated several important agreements that were signed with international partners due to difficulties in circumventing the sanctions.
Reports said calculated efforts to diversify exploration business relations is turning extremely complex, and current at the cross-roads, Lukoil will have to ultimately give up existing contracts and agreements it had signed with external countries.
Lukoil’s website reports also pointed to reasons for abandoning oil and gas exploration and drilling project that it began in Sierra Leone. According to those reports, Lukoil could withdraw from almost all of the projects in West Africa.
In addition to geopolitical sanctions, technical and geographical hitches, Lukoil noted on its website, an additional obstacles that “the African leadership and government policies always pose serious problems to operations in the region.” Similarly, the Kremlin-controlled Rosneft abandoned its interest in the southern Africa oil pipeline construction, negatively impacted on Angola, Mozambique, South Africa and Zimbabwe.
United States sanctions has hit Lukoil, one of the Russia’s biggest oil companies, like many other Russian companies, that has had a long history shuttling forth and back with declaration of business intentions or mere interests in tapping into oil and gas resources in Africa.
By Kestér Kenn Klomegâh
In New Delhi, President Vladimir Putin, alongside Editor-in-Chief of Russia Today, Margarita Simonyan, took part in the launch ceremony of the RT India TV channel. The TV channel will operate from a new studio complex in New Delhi, marking a new dimension in the bilateral media sphere.
Editor-in-Chief of Russia Today, Margarita Simonyan, indicated that the collaboration, naturally, points to India’s hospitality, affirming that this endeavour was not only worthwhile but long overdue.
Vladimir Putin, officially, launching the TV studio, also emphasized that the Russia Today channel in India, RT India, grants millions of Indian citizens clearer, more direct access into insights about contemporary Russia – the realities, aspirations, and perspectives. He reiterated the existing traditional friendship, and the ties between the Indian and Russian peoples go much deeper into the past; which rests on a solid historical foundation. And at the core of relationship lies mutual interest.
Russia Today is a source of truthful and reliable information, focused on serving the interests of its viewers and listeners. Its main mission is merely to promote Russia, its culture, and its positions on domestic and international issues. Above all, Russia Today strives to convey truthful information about the country and about what is happening in the world. This is the absolute value of Russia Today.
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