24 August 2022
Eastern Africa
Free Trade Zone Will Provide Efficient Services, Attract Investors: Maritime Authority
Modern and suitable services will be provided at the Dire Dawa Free Trade Zone to improve import-export trade and attract investment, according to Ethiopian Maritime Authority. Read More

GERD Is a Game Changer for Ethiopia’s Development Ambition: Scholars
The Grand Ethiopian Renaissance Dam (GERD) is a game changer for Ethiopia as it enhances capacity for improved electricity coverage nationally, scholars noted. Read More

Ethiopian Shipping and Logistics Services Enterprise Transports 7.2 Million Tons of Dry Cargo
Ethiopian Shipping and Logistics Services Enterprise has transported 7.2 million tons of dry cargo despite all the challenges in the concluded fiscal year which ended on June. Read More

A New Industrial Park to be Built in Addis
Addis Ababa City Administration signed an agreement with two construction contractors called KMCG and TNT to build a small and mid-level industrial park at a cost of ETB 7.7 billion (approx. USD 146 million). Read More

UK Protests Kenya Ban on Second-Hand Buses, Trucks
The United Kingdom has protested Kenya’s impending ban on second-hand imports of buses and trucks, fearing the embargo will cut the flow of used commercial vehicles from the European country. Read More

Eurobonds, NSE Fall after Raila Odinga’s Supreme Court Test of Poll Results
Markets fell on Monday after Kenyan opposition leader Raila Odinga formally challenged the results of this month’s presidential election at the country’s Supreme Court. Read More

Maize Price to Climb After End of Subsidy
The price of maize is expected to rise in the coming days with the end of the subsidy as all millers resume operations in the wake of a limited supply of the produce. Read More

Sugar Imports Drop on Improved Production
Sugar production between January and July increased by 15 percent when compared with a similar period last year, compelling the sector regulator to cut imports by nearly half last month. Read More

British Entrepreneur Opens New Vista with Rwanda Opportunities Organisation
Adam and the Agency have teamed up with Rwanda Opportunities Organisation to launch a series of programmes across the next twelve months which will empower young people, develop rural communities and encourage entrepreneurship. Read More

UK Firm to Develop Kigali Green City Master Plan
Feilden Clegg Bradley Studios, a British architectural design firm, has been selected to develop the green city Kigali master plan and detailed designs for the pilot phase. Read More

Tanzania Conducts National Population and Housing Census
Tanzania on Tuesday began conducting its National Population and Housing Census with President Samia Suluhu Hassan being among the first persons to be counted at State House in Chamwino in the capital Dodoma. Read More

Increasing Access to Sunflower Seed in Tanzania
Increasing the availability of improved and hybrid seed varieties is essential to growing sunflower yields among smallholder farmers in Tanzania, a new report published by Farm Africa has shown. Read More

EAC Services Exports Hit USD 12.9 Billion
The East African Community (EAC) exported services worth USD 12.9 billion in 2019 against USD 933.6 billion worth of imports. Read More

UDSM Embarks on Financial, Investment Awareness Initiative
University of Dar es Salaam School of Business has come with a quarterly stakeholders meeting aimed to increase financial, banking and investment awareness among member of the public. Read More

Fitch Solutions Maintains Palm Oil Average Price This Year at USD 1,160 Per Ton 

Fitch Solutions maintained its palm oil average price forecast this year at 5,200 ringgit (USD 1,160) per ton, seeing a slight recovery in palm oil prices from its recent decline. Read More

Govt to Install ‘free’ Wi- Fi Hotspots Across Uganda
The free Wi-Fi hotspots installation programme will be rolled out in every location where government’s national backbone infrastructure exists. Read More

Local Govts Generate UGX 50 Billion from Property Tax Annually
Jinja City generates the largest share of revenue from property-related taxes, followed by Gulu and Masaka City, according to data captured during the 2019/20 financial year. Read More

UGX 2.6 Billion Moyo Market on Course Despite Delays, Says CAO
According to Mr Geoffrey Vuciri, the Moyo District deputy chief administrative officer, despite some delays, the project, which had been scaled down in 2018, is now on course. Read More
Northern Africa
Jordan, Algeria to Boost Commerce
Business representatives from Jordan and Algeria called for efforts to overcome obstacles facing bilateral trade. Read More

Elsewedy Electric Earns EGP 2 Billion in First Half 2022

The profits of Elsewedy Electric increased by 16 percent in the first half of this year to reach EGP 2.02 billion, compared to 2021’s EGP 1.74 billion (approx. USD 90 million) in profits. Read More

CIB launches Instant Payment Network to Support Digital Transformation Plans
The Commercial International Bank, Egypt (CIB) has launched the Instant Payment Network through its digital channels, including internet and mobile banking, as well as the Egyptian Banks Company’s InstaPay application, in line with the Central Bank of Egypt’s (CBE) guidance on supporting digital transformation and facilitating digital payments. Read More

Emirati, Australian Companies Consider Investing in Egyptian Green Energy
Representatives of the UAE’s KK Power International and Australian Fortescue Future Industries (FFI) expressed their desire to invest in renewable energy and green hydrogen in Egypt during the coming period. Read More

MNDH Records EGP 1.5 Billion in Sales in July 2022
Madinet Nasr for Housing and Development (MNHD) announced that the company recorded EGP 1.5 billion (78 million) in total sales in July 2022. Read More

Saudi Arabia’s Low-Cost Airline Flynas Launches Direct Flights to Casablanca
The Riyadh-based low-cost carrier Flynas has signed an agreement with Saudi Arabia’s Air Connectivity Program to launch new and direct flights to Casablanca, Algiers, Marseille, and Almaty. Read More

Moroccans Pursue Entrepreneurship Despite Financial, Regulatory Difficulties
A recent report by, the MENA region’s leading job-seeking platform, has found that 63 percent of Moroccan respondents want to be self-employed while 28 percent seek employment in a company. Read More

Morocco’s Fisheries Landings on Increase in 2022
Rabat - The landings of coastal and artisanal fishing products increased by 20% during the first seven months of 2022.  Read More

Morocco-Based Firm Partners with European Bank on Energy-Efficiency
Rabat - Flexibois, a Morocco-based kitchen furniture manufacturer, is partnering with the European Bank for Reconstruction and Development (EBRD) to make its product offering cost-competitive while also reducing its carbon footprint. Read More
Southern Africa
Strategy Set to Boost US Trade with Malawi, Others
The United States has reviewed its strategy towards sub-Saharan Africa under the African Growth and Opportunity Act to respond to the economic fallout brought by the Covid-19 pandemic. Read More

New Malawi Bureau of Standards Offices Ready Next Week
Construction of the Malawi Bureau of Standards new office complex in Blantyre is expected to be completed by 31 August MBS Public Relations Officer Monica Khombe has said. Read More

Sycamore Indaba to Talk Wealth Creation
Local training and consultancy firm, Sycamore Consult Limited, will next week host the 2022 Wealth Creation Forum which is aimed at bringing together people from various disciplines to discuss ways towards wealth creation. Read More
Rising Food Prices to Trigger Crisis
Rising food and non-food prices have pushed up the survival minimum expenditure basket, with the largest change in household expenditure observed in urban areas, a new World Food Programme report shows. Read More

South Africa
South African Rand Firms Against Dollar after Unemployment Data
South Africa's rand firmed on Tuesday after data showed that the country's unemployment rate slightly improved in the second quarter. Read More

Unemployment Rate Improves to 33.9 Percent in the Second Quarter
South Africa’s unemployment rate decreased by 0.6 of a percentage point quarter-on-quarter to 33.9 percent in the second quarter. Read More

Empowerment Programme Hailed
Minister of Small and Medium Enterprises Development Elias Mubanga has challenged mining companies in Zambia to emulate Barrick Lumwana Mine in building entrepreneurship capacity in the local people to enable them to participate in the real business opportunities and eventually make them play a bigger role in revamping the country’s economy. Read More

Zambia Breweries Posts MWK 102 Million Profit
ZAMBIAN Breweries Plc has recorded a profit before tax of MWK 102 million (approx. USD 100,000) in the first half of this year, compared to MWK 67.5 million (approx. USD 66,000) posted in the same period last year, representing a 51 percent growth. Read More
Western Africa
Cote D’Ivoire
Côte d’Ivoire Terminal Receives New Equipment
Côte d’Ivoire Terminal received six STS gantries and seven RTG gantries, which is a major step in the planned construction of the second container terminal at the Port of Abidjan. Read More

Government to Inject about USD 2 Billion into Economy – Oppong Nkrumah
The Information Minister, Kojo Oppong Nkrumah, says the government will soon inject about USD 2 billion into the Ghanaian economy, as part of measures to address the Cedi depreciation. Read More

COCOBOD Starts Roadshow to Raise About USD 1.3 Billion for 2022/2023 Cocoa Crop Season
The Ghana Cocoa Board (COCOBOD) has begun a roadshow in Europe to raise about US$1.3 billion dollars for the 2022/2023 cocoa crop season, a move that will bring inflows of dollars into the economy to slow down the depreciation of the cedi. Read More

Forge Strong Partnerships with Investors: Yofi Grant to Private Sector
The Chair Executive Officer of the Ghana Investment Promotion Centre, Yofi Grant, has called on the private sector to forge strong partnerships with domestic and private investors to enhance growth and development. Read More

BoG Dollar Auction: Demand Exceeds Supply by USD 84.5 Million
Demand for dollars by dealers outstripped supply by USD 84.5 million, latest data from the Bank of Ghana has revealed. This is a reduction of the USD 105.25 million recorded during the last auction a fortnight ago. Read More
Nigeria Imports USD 11 Billion Plastics, Pharmaceuticals, Sugar
Plastics, pharmaceuticals and sugar worth USD 10.98 billion (approx. USD 26 million) were imported into Nigeria between 2020 and 2021, according to data from the International Trade Centre. Read More

NEPC Promises More Technical Support for Exporters
Nigerian Export Promotion Council has promised continuous technical support for people engaging in export businesses, even at grassroots, as part of efforts to further diversify the economy. Read More

Firm Appoints New Managing Director
A Nigerian company, PPC, has appointed Mr Ayodeji Grillo as the new Managing Director effective. The outgoing Managing Director, Biodun Dish, said in a statement that “Mr Grillo served as the executive director for the last eight  years. Read More

Zenith Bank’s First Half Gross Earnings Rise to NGN 405 Billion
Zenith Bank grew its gross earnings by 17 percent from NGN 346 billion (approx. USD 820 million) in the first half of 2021 financial period to NGN 405 billion (approx. USD 960 million) in the corresponding period of 2022. Read More
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Africa This Morning is ALN’s daily newsletter that gives a round-up of the top news making headlines across Africa. It focuses on business news and any other happenings set to impact doing business and investing in the region. The above are updates and do not constitute legal advice.

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