22 July 2022
Eastern Africa
Urgently Required Fertilizers Delivered to Tigray Farmers: FAO
The first batch of 262 tonnes of fertilizers were delivered to Tigray Region in collaboration with the Federal Government of Ethiopia, the Food and Agriculture Organization (FAO) disclosed. Read More

Ethiopia Acheives 94 Percent Tax Revenue Target
The Ministry of Revenue of Ethiopia has said it has achieved its 93.53 percent of its tax revenue collection for the year ended 7 July 2022. Read More

US Ambassador visits Gondar in Amhara Region of Ethiopia
Ambassador Tracey Jacobson, Chargé d’Affaires of the U.S. Embassy in Addis Ababa, Ethiopia visited Gondar, Amhara 19-20 July. Read More

Ethiopian Airlines Group Signs Proposal with De Havilland Canada for up to Four Dash 8-400 Freighter - Large Cargo Door Kits
De Havilland Aircraft of Canada and Ethiopian Airlines Group announced that Ethiopian Airlines has signed a proposal for the purchase of two Dash 8-400 Freighter, Large Cargo Door conversion kits. Read More

President Kenyatta Arrives in Arusha for East African Community (EAC) Summit
President Uhuru Kenyatta arrived in Arusha, Tanzania, Thursday afternoon to attend the 22nd Ordinary Summit of the East African Community Heads of State. Read More

Kenyan Passport Ranked as The Most Powerful in East Africa
Kenya has been ranked as the country with the most powerful passport in East Africa. The ranking by Henley & Partners, a citizenship and planning firm, considers how many countries can be visited without applying for a visa. Read More

Cash from Kenyans in US Plunge on America Inflation
Cash sent home by Kenyans living and working in the US fell for three months in a row to June as inflation in America reached a 40-year high, squeezing households’ budget. Read More

Elite School Fees Rise 25 Percent after Covid
Kenya’s elite schools have increased fees by up to 25 percent in the past three years despite the Covid-19 pandemic, riding on the high premium parents place on their children’s education. Read More

KCB, Equity Bank Units Seek Receivership of Kigali Business Centre
Rwandan subsidiaries of Kenyan banks KCB and Equity are seeking to have Kigali Business Centre placed under receivership for defaulting on a USD 16 million loan owed to the two lenders. Read More

President Samia to Launch Fertiliser Scheme in August
President Samia Suluhu Hassan will inaugurate the country’s fertilizer subsidy programme during Farmers Day (‘Nane Nane’) in August this year. Read More

President Samia Appoints Wambura New IGP
President Samia Suluhu Hassan has appointed Camilius Wambura as Tanzania's Inspector General of Police. Read More

Zanzibar Goods, Services Exports Double
The exports of goods and services doubled to USD 204.4 million during the year ending May, compared with the level recorded in the corresponding period last year, largely on account of increase in exports of goods and services receipts cloves and tourism. Read More

New Tanzania's Airports Authority Boss Sets Sight on 24-hour Operations
The new director general of the Tanzania Airports Authority, Mr Mussa Mbura, has vowed to focus on six specific issues during his tenure: to boost utilisation of airports; raise revenues and security as well as employees’ welfare, among others. Read More

South Sudan, Uganda Hold First Ever Business Forum in Juba
South Sudan and Uganda are holding their first ever Joint Business Forum in Juba, seeking to boost trade and investment ties “through industrialisation and infrastructure development”. The three-day forum and exhibition, which kicked off on Tuesday, has attracted over 200 businesspeople from the public and private sectors. Read More

South Africa Refinery Shutdown Upsets Uganda Fuel Import Plans
South Africa’s largest petrochemical and fuel producer, Sasol, has temporarily shut down its refinery it co-owns with French oil giant, TotalEnergies SE due to glitches in delivery of crude oil. The Natref plant shutdown on Sunday prompted Sasol to declare a force majeure. Read More
Northern Africa
European Leaders Sign Energy Deal to Reduce Need for Russian Gas

This week, the leaders of Italy, France and the EU signed agreements with their counterparts in Algeria, Azerbaijan and the United Arab Emirates to buy natural gas, due to fears of a disruption in Russian supplies. Read More

Ideas: Algeria-Zimbabwe Relations Compass
The leading and important element that has historically glued the political, socio and economic thoughts inspiring the Zimbabwe-Algeria relations has been the ability of the general citizenry to speak of self-emancipation. Read More

FEDCOC: Great Chance Looming for Egyptian Exports in Serbia

The General Federation of Egyptian Chambers of Commerce (FEDCOC) said a great chance lies ahead for upping the volume of Egyptian-Serbian trade exchange and increasing Egyptian exports to Serbia. Read More

Gov't Attaches Prior Attention to Enhancing EGX Performance: PM
The government attaches prior importance to enhancing the performance of the Egyptian Exchange (EGX), affirmed Prime Minister Moustafa Madbouli. Read More

BUNA Payment Platform Eyes Adding More Banking Services- CBE
The BUNA payment platform is considering new banking services to boost the trade exchange between Egypt and the other Arab counties, Central Bank of Egypt (CBE) deputy director general of the payment systems department Hani Omar said. Read More

Serbia Agrees to Sell Wheat to Egypt
Serbian President Aleksandar Vucic announced his country's approval to sell grain and wheat to Egypt, the Italian Nova news agency reported. This comes after Serbia recently obtained a certificate for exporting wheat, apples, and “beef as well,” according to the country’s president. Read More

US Finances Morocco’s First Smart Grid Deployment in Marrakech
The U.S. Trade and Development Agency (USTDA) awarded today a grant to Marrakech’s electricity and water distributor (RADEEMA) for a feasibility study that aims to transform the power distribution facility into a smart grid.  Read More

US-Africa Business Summit: OCP Accelerates Efforts to Help Africa with Food Security
Ilias Elfali, Managing Director of Corporate Strategy and Sustainability at OCP, discussed the importance of food security and agriculture in Africa, highlighting efforts and plans by OCP to help accelerate the sector. Read More

After 10-Day Maintenance, Nord Stream 1 Gas Pipeline Resumes Flow to Europe
Operating at 30 percent of its full capacity, the Nord Stream 1 gas pipeline, Europe’s main gas supply pipeline that connects Russia to Germany, has resumed its flows to Europe on after 10 days of outage. Read More
Southern Africa
Malawi AGOA Exports Down
Malawi’s exports to the United States through the African Growth and Opportunity Act  continue to decline, falling by 9.23 percent in 2021 alone, published data shows.  Read More

Inflationary Pressure to Worsen Poverty—Ecama
Economics Association of Malawi says the elevated inflationary pressures are worsening poverty and negatively affecting production and business operations. Read More

Experts discuss Internet Penetration Challenges
With the low numbers of Africans having access to internet, experts are gathered in Lilongwe to deliberate on the possible solutions. Read More

Goshen City in Partners Search
Goshen City Management will hold a multi-stakeholder meeting aimed at raising awareness and courting partnerships for the project. Read More

MozParks at the U.S-Africa Business Summit 2022
Policymakers, private senior executives, and leaders of key organisations from the USA and countries of the African continent are meeting at the US – Africa Business Summit in July 2022, in Marrakech. Read More

South Africa
More Financial Pain for Consumers as Reserve Bank Hikes Interest Rate by 75 Basis Points
Sarb governor, Lesetja Kganyago, raised the benchmark repo rate by 75 basis points to 5.50 percent per year. Read More

ArcelorMittal South Africa Forecasts an Improvement in Interim Earnings Per Share
Steel-making group ArcelorMittal South Africa expects headline earnings a share to improve from ZAR 2.23 headline profit to within a range of ZAR 2.61 and ZAR 2.81 per share in the six months to June 30, but it’s preparing for tougher trading conditions. Read More

Eskom Could Use Coal for Longer
South Africa’s power utility Eskom Holdings SOC Ltd could run coal-fired stations for years longer than originally planned to allow more renewable power to be built as the country transitions to a greener energy mix. Read More

South Africa’s Government wants Access to USD 8.5 Billion Climate Financing Money
South Africa’s government wants to start accessing some of the USD 8.5 billion in climate financing pledged by some of the world’s richest nations by early 2023, the head of its negotiating team said. Read More
Mines Demand Lower Tax
The Zambia Chamber of Mines has proposed further changes to the mine tax regime in next year’s budget to lower the sector’s high tax rate that is inhibiting investments. Read More

World Vision spends USD 10 Million on Small Farmers
About USD 10 million has been invested by World Vision since 2016, targeting 15,000 smallholder farmers across six districts who have been empowered with various agricultural skills to improve production and increase their incomes. Read More

China, Comesa Trade Drops by USD 2 Billion
China’s trade volume with the Common Market for Eastern and Southern Africa dropped from USD 11.2 billion in 2019 to USD 9.5 billion in 2020 due to COVID-19. Read More

Zambia to Lose Out on DRC Traffic to Angola
A railway concession agreement has been signed off by the Angolan government with a consortium that includes global metals and minerals trader Trafigura, infrastructure construction services provider Mota Engil and Vecturis, a Belgian railway operator that will see Zambia lose out on huge transport and logistics revenues if no immediate actions are taken by the Zambian government. Read More
Western Africa
Ghana Parliament approves USD 750 Million Loan for 2022 Budget Support
Parliament on Wednesday approved a loan facility agreement between the Ghana government and African Export-Import Bank for an amount of USD 750 million to finance capital growth-related expenditures in the 2022 budget. Read More

Komenda Sugar Factory Out Growers Threaten to Sell Sugarcane to Distillers
More than 2,800 sugarcane out growers anticipated to supply sugarcane to the Komenda Sugar Factory have threatened to sell their sugarcane to palm wine distillers if the factory management failed to pay them GHS 300.00 per tonne. Read More

Seven Factories in the Offing as Banso seeks to become Industrial Hub
Unlimited Building Solutions, an American investment company, is financing the projects, which includes cassava, organic fertilizer, shirt, furniture, blocks, milk, and chocolate factories. Read More

Businesses Need Guidelines for Growth—GNCCI
The newly elected Tema Regional Chairman of the Ghana National Chamber of Commerce and Industry, Mr Michael Kabutey Caesar, has called for the preparation of a manual to guide business sustainability and growth. Read More
Rising Security concerns Compounding Nigeria’s Economic Woes, says NACCIMA
With a decline in investment inflow and domestic food production challenges aggravated by rising security concerns, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has asked the Federal Government to address insecurity issues for the economy to thrive. Read More

ACAMB Advocates Fiscal, Monetary Policies Synergy to Support OPS
The Association of Corporate Affairs Managers of Banks has advocated an active collaboration of fiscal and monetary authorities in addressing all constraints impeding the growth of the Organised Private Sector and providing support for the real sector. Read More

Telecoms Operators Add 8.9 Million Subscribers to Network in H1
Broadband penetration hits 44.3 percent as teledensity climbs to 108 percent and for the first half of the year, telecommunications operators added 8.9 million subscribers to the country’s network. Read More

Diaspora Remittances hit USD 20 Billion, says NIDCOM
Chairman of Nigerians in Diaspora Commission, Abike Dabiri-Erewa, has said remittances from Nigerians in the Diaspora now stand at USD 20 billion despite the coronavirus pandemic in 2021. Read More
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