By: msn

Mali has authorized a payment of 312 billion CFA francs ($554 million) to settle outstanding debts owed to local companies for services provided between 2023 and 2025. The funds are drawn from 761 billion CFA francs recently recovered from international mining companies under the country’s updated 2023 mining code.

Finance Minister Alousséni Sanou stated that the disbursement follows earlier government efforts to strengthen public finances by enforcing compliance with the new regulatory framework. The payments aim to clear long-standing arrears and support the operations of domestic businesses.

The recovery initiative forms part of Mali’s broader strategy to maximize state revenue from the mining sector, especially as the government seeks to finance its expanded military campaign against Islamist insurgents following reduced support from Western partners.