Ethiopia
Ethiopia Reviews Horn of Africa Initiative Projects to Foster Regional Development
The Ministry of Finance hosted an in-country review of the Horn of Africa Initiative to showcase Ethiopia's commitment to promoting regional integration and cooperation through this additional layer of platform. Read More

ECA Expresses Commitment to Work with AU to Realize Education System fit for 21st Century
Executive Secretary of the United Nations Economic Commission for Africa, Claver Gatete said ECA remains committed to working together with the Africa Union to realize an education system fit for the 21st century. Read More

Development Partners Group Heads of Agency Discuss NDRP, Socio-Economic Situation in Ethiopia
The Development Partners Group Heads of Agency have discussed the National Demobilization and Reintegration Program and the socio-economic situation in Ethiopia.  Read More

Kenya
Kenyan Shilling Posts Strongest Single-Day Gain in 12 Years
The Kenya shilling posted its strongest intra-day gain against the US dollar in the last 12 years on Wednesday, reaping from a tide of investor confidence after the government received significant inflows to pay off the USD 2 billion Eurobond. Read More

Banks Open Loan Restructuring as Higher Rates Raise Defaults
East Africa’s retail banks have disclosed measures, including loan restructuring to cushion borrowers from the prevailing hard economic conditions precipitated by rising interest rates and inflation across the region. Read More

Gulf Fuel Products Import Scheme Lifts Kenya Banks Dollar Holdings
The government-to-government deals on the importation of fuel products have increased the dollar reserves of banks, fuelled by a requirement that they accumulate hard currency to support payments under the scheme. Read More

Kenya Cabinet Approves Privatisation of 7 State-Owned Enterprises
Kenya's Cabinet on Wednesday approved the sale of seven more State-owned enterprises following a meeting chaired by President William Ruto at State House in Nairobi, bringing the total number of entities set to be privatised to 17. Read More

Rwanda
Rwanda Launches Aviation Training Centre
Rwanda, on February 14, launched a Centre of Excellence for Aviation Skills aimed at building local capacity and empowering the labour force in the aviation industry in the region and beyond. Read More

Inside Rwanda’s New USD 100 Million Dairy Project
Rwanda has a launched a six-year USD 100.37 million (approx. Rwf127 billion) dairy development project which intends, among others, to increase income of targeted rural households, and build resilience of the dairy sector against climate change as it raises its output. Read More

Top Six Buyers of Rwanda's Popular Tea
Rwanda’s tea holds a record for fetching the highest prices at Mombasa tea auctions, in Kenya, outperforming brands from other regional countries, according to data from the East African Tea Trade Association. Read More

Tanzania
Tanzania, Burundi, Rwanda's Power Plant Handover Set for April
Tanzania, Rwanda, and Burundi are on track to inaugurate the transboundary Rusumo Hydropower Project in April 2024. Read More

Stakeholders Call for More Safe, Clean and Sustainable LPG Sector
The Tanzania LPG Association marked a significant milestone as it hosted key stakeholders in the LPG sector. Read More

TCCIA Investment Changes Name, Eyes More Investors
The Board of Directors of TCCIA Investment has proposed change of the company’s name to Afriprise Investment to strengthen its identity in coping up with the unfolding market trends and emerging business opportunities. Read More

SMEs Told to Produce High Quality Goods to Access Loans
Tanzania Bureau of Standards has urged local manufacturers to consider production of quality goods which will enable them to access loans from financial institutions to boost their businesses. Read More

Uganda
Umeme Refutes Claims of Yaka Tokens Running out Faster
Since Umeme started upgrading its prepaid electricity meters’ (Yaka) system, some of the power distributors pre-paid customers have voiced concerns about how quickly their electricity units are being depleted. Read More

IGAD Lauds Uganda Over Development-Oriented Land Policy 
The Intergovernmental Authority on Development has commended Uganda for formulating a tolerant land policy that focuses on land equity. Read More

Uganda signs Memorandum of Understanding with United Arab Emirates on Experience Exchange in Government Development and Modernisation
Uganda signs Memorandum of Understanding with United Arab Emirates on experience exchange in government development and modernization. Read More

Algeria
Algeria Reveals Planned Updates to its Space Programme
Algerian President Abdelmadjid Tebboune chaired a meeting on Monday to evaluate the current state of the Algerian Space Agency, plan its future direction, and achieve the country’s 2040 space vision. Read More

ALGERIA: The Country Wants to Irrigate 60 Percent of its Land with Treated Wastewater by 2030
Algerian government is multiplying alternatives, the most recent of which is the Special Program for the reuse of 60 percent of treated wastewater in the agricultural sector by 2030. Read More

Egypt
Egypt, UAE Sign Agreement to Boost Digital Exports, Create Jobs
The Prime Minister of Egypt, Mostafa Madbouly, attended the signing ceremony of a cooperation agreement between the Information Technology Industry Development Authority and the UAE-based Mashreq Global Network. Read More
 
Abu Dhabi Commercial Bank, Schneider Electric Sign Two MoUs to Finance Green, Sustainable Projects in Egypt
Abu Dhabi Commercial Bank – Egypt and Schneider Electric, a leader in digital transformation of energy management and automation, announced a strategic partnership through signing two memorandums of understanding. Read More

Minister Al-Mashat Discusses Private Sector Empowerment with IFC Delegation
Meeting with a delegation from the International Finance Cooperation  on Wednesday, Minister of International Cooperation and Governor of Egypt at the World Bank Group, Rania Al-Mashat, expressed Egypt’s keenness to enhance the strategic partnership between the two for private sector empowerment and increased investments. Read More

Egypt Committed to Diverse Energy Portfolio and Renewable Energy, Petroleum Minister
Egypt is committed to developing a diverse energy portfolio, integrating both renewable sources and traditional fuels to enhance energy security, explained Minister of Petroleum and Mineral Resources. Read More

Morocco
Morocco-UK Xlinks Project: Vegar Larsen New to Lead USD 1.4 Billion Cable Plant
XLCC, the company responsible for manufacturing the EUR 1.4 billion (USD 1.7 billion) subsea cable for the Morocco-UK Power Project, announced appointing Vegar Syrtveit Larsen as Chief Technology Officer of the project. Read More

Morocco Remains Top Supplier of Fresh Produce to the EU
Morocco continues to be the leading supplier of fresh fruits and vegetables to the European Union, according to recent data from the European Office of Statistics processed by the Spanish Federation of Associations of Producers and Exporters of Fruits, Vegetables, Flowers and Live Plants. Read More

Morocco’s Logistics Startup Logidoo Locks USD 1.55 Million in Seed Funding
Logidoo, a Morocco-based startup has raised USD 1.55 million in seed funds to deploy its solution across Africa. Read More

RBM Justifies Policy Rate Hike
The Reserve Bank of Malawi says the hike in the policy rate to 26 percent in the current circumstances will ensure durable recovery of the economy. Read More

Treasury for Digital Revenue Collection
The Ministry of Finance has said the government will migrate to digital revenue collection at the start of the second quarter of the 2024/2025 financial year in July. Read More

Business Subdued in 2023—MCCCI
The 2023 Malawi Business Climate Survey published by the Malawi Confederations of Chambers of Commerce and Industry, indicates that 50 percent of businesses increased their levels of production, while 20.4 percent decreased their levels of production in the gone by. Read More

MDCHL Sustainability, Capacity Under Scrutiny
With plans underway to set up Malawi Development Corporation Holdings Limited to spearhead investment in strategic sectors, analysts fear the move could face challenges because government is “more oriented towards running social programmes”. Read More

South Africa

The Labour Court’s ruling compelling the South African government to augment the 2023 public sector wage increment with margins agreed during current wage negotiations places Finance Minister Enoch Godongwana in a dilemma in next week’s Budget as he strives to contain government spending and at the same time cushion public sector workers against rising inflation in an election year. Read More

Retail Sales Cool in 2023 with Consumers Still Facing Constrained Spending Ahead
Consumers in South Africa are expected to continue struggling this year under the brunt of stubbornly high inflation, rising cost of borrowing and weak consumer confidence after retail activity plunged in 2023, in spite of sales outperforming expectations in the fourth quarter. Read More

KAP’s Potential Disposal of Unitrans for ZAR 6 Billion Drives up its Shares on JSE by 5 Percent
Industrial group KAP could be close to a deal to dispose of its struggling Unitrans division for a reported ZAR 6 billion (approx. US 315 million). Read More

MPs want SOE Line Managers Present when Discussing Road Ahead
Parliament's Portfolio Committee on Public Enterprises would not rubber stamp the department's State of the Nation Address commitments to urgently address service delivery shortfalls, particularly on load shedding interventions without the principals being present, especially Electricity Minister Kgosientsho Ramokgopa. Read More
 

Ghana
EPA Assures Thorough Environmental Impact Assessment for Lithium Exploration in Communities
The Environmental Protection Agency and Atlantic Lithium Mining Company, have pledged to do thorough impact assessment in operating communities to avert the consequences of that mining in its catchment areas. Read More
  
Ghana's President Removes Finance Minister in Big Reshuffle
Ghana's president removed his finance minister in a sweeping reshuffle on Wednesday ahead of December elections where an economic crisis looks set to take centre stage. Read More

Consortium to Deepen Efforts to Address Trade, Economic Inequalities in Africa
A consortium of four is strategising in Ghana on ways to address the inequalities in the cocoa, mining and salt sectors to provide decent income for the poor in the value chain. Read More

Only 23 Percent Households use Clean Cooking Fuels, Technologies – GSS
The 2022 Ghana Demographic and Health Survey report by the Ghana Statistical Services have revealed that around a quarter – 23 percent of households use clean fuel and technologies for cooking. Read More

Nigeria
FG to borrow NGN 2.5 Trillion via Bonds – DMO
The Federal Government is seeking to raise NGN 2.5 trillion (approx. USD 1.6 billion) in its second FGN bonds auction of the year. Debt Management Office in a circular issued on Wednesday, stated that the offerings consisted of NGN 1.25 trillion (approx. USD 824 billion) with a maturity date of February 2031 and NGN 1.25 trillion (approx. USD 824 billion) with a 10-year tenor. Read More

BUA Foods Invests over USD 200 Million in Sugar Estate
The Managing Director of BUA Foods, Ayodele Abioye, has disclosed that the company has invested over USD 200 million in its integrated sugar estate in Lafiagi, Kwara State. Read More

Nigeria’s Dangote Refinery Mulls First Fuel Cargo Export
Nigeria’s Dangote refinery has issued notice to sell two fuel cargoes for export, Reuters reports. This is the first from the newly commissioned 650,000 barrels per day refinery. Read More

Carbon Acquires Nigerian Fintech Vella Finance
Digital financial services provider, Carbon, has acquired Vella Finance, a Nigerian fintech company with a focus on small and medium-sized enterprises. Read More