3 February 2023
Eastern Africa
Hospitality Sector Reaffirms Commitment to Serve AU Summit Participants in Addis Ababa Well
The National Committee established to oversee preparations to host the upcoming AU summit held a discussion with representatives of stakeholders in the hotel and tourism sectors. Read More

Ethiopian Capital Market Authority to Issue License To capital Market Service Providers
Ethiopian Capital Market Authority announced that it is undertaking the necessary preparations to issue licenses to capital market service providers over the coming six months. Read More

Ethiopia Attracts About 2 Billion USD in FDI During Last Six Months
Ministry of Planning and Development disclosed that Ethiopia has attracted close to USD 2 billion in Foreign Direct Investment during the last six months of this Ethiopian fiscal year. Read More

UN Agency Affirms Support for Ethiopia’s Trade Policy Agenda
The UN Economic Commission for Africa, a think tank with specialist expertise in African and international trade policy, has recommitted to helping Ethiopia’s trade policy agenda that aims to foster industrialization and sustained economic growth. Read More

Ruto Fails to Cut Spending in First Supplementary Budget
President William Ruto’s administration has failed to cut the annual government spending in its first mini-budget due to multi-billion shilling expenditure in his predecessor’s last days, continued expenses on subsidies and the launch of the hustler Fund. Read More

MPs Shield 1,764 Regulations from Expiry with Extension
Parliament has given the State a one-year window to republish and table in the house 1,764 regulations enacted by Cabinet secretaries, constitutional Commissions and independent offices a decade ago. Read More

Rights Group Sues KFS in Baobab Exports Dispute
Rights group Kituo cha Sheria has sued the Kenya Forest Service and the Environment ministry seeking compensation for Kilifi residents over the uprooting of baobab trees and the export of the same to the United States. Read More

Epra Reveals Second Plan to Increase Cost of Power 
The Water Resources and Management Authority (Warma) is the latest State entity to seek a bigger pie of the electricity bills in what looks set to further increase the cost of power. Read More

Rwandan Appointed UN Coordinator in Liberia
Christine Umutoni was appointed the United Nations Resident Coordinator in Liberia on February 1, with immediate assumption of office. Read More

Kagame in Dakar for Africa’s Infrastructure Development Summit
President Paul Kagame is attending the second Dakar Financing Summit for Africa’s Infrastructure Development, taking place from 1 to 3 February, in Senegal. Read More

SA Tourism’s Proposed Spurs deal ‘Has More Benefits’ Than Rwanda and Arsenal
South Africa Tourism  acting CEO Themba Khumalo says the agency's proposed ZAR 910 million (approx. USD 53 million) deal to partner with Tottenham Hotspur costs more than Rwanda's similar deal with Arsenal because it “has more benefits”. Read More

New Turkish Envoy to Rwanda Looks to Further Strengthen Ties
Türkiye’s ambassador-designate to Rwanda promised to work to further strengthen bilateral ties between the two countries. Read More

BoT Ordered to Refloat TZS 822 Billion Tender Award for Banknotes Reprint
The Public Procurement Appeals Authority has ordered the Bank of Tanzania (BoT) to restart a multibillion-shilling tender for the reprinting and supply of banknotes after noting flaws during the vetting of bidders. Read More

Kenya’s Demands Before Rejoining Bourses Integration Project
A month after indicating it was on its way to re-join The East African Capital Markets Infrastructure Project, Kenya has tabled new conditions for that to happen. Read More

Tanzanian Motorists, Households Get Marginal Relief at the Fuel Pump
Geita Gold Mining inaugurated the start of an internship for another 50 fresh graduates who joined the miner in various disciplines. Read More

NSSF Defends its Performance and Real Estate Investments
The National Social Security Fund has defended its performance over the last 10 years before the Parliamentary Select Committee investigating the National Social Security Fund (NSSF) and the appointment of the Managing Director and Deputy Managing Director. Read More

Microfinance Institutions Demand Bank Status
Microfinance institutions and money lending firms are pushing to be recognised as microfinance banks, which they say will give them visibility and trust among the clients they serve. Read More

Online Portal to Ease Travel, Business Dealings for Ugandans with China
Uganda’s Consul General Ambassador to China, Guangzhou Ms Judyth Nsababera has said a newly unveiled online portal is set to ease travel and business dealings for Ugandans with China. Read More

URA Collects UGX 700 Million from Facebook Users
Uganda Revenue Authority (URA) has so far raised UGX 700 million (approx. USD 190,000) in Value Added Tax from Ugandan Facebook users who subscribe to the platform for digital marketing purposes. Read More
Northern Africa
Algeria Nearly Quadruples Russian Wheat Imports to 1.3 million tons in 2022 – Agroexport

Algeria increased imports of Russian wheat by 290 percent to almost 1.3 million tonnes in 2022 from 330,000 tonnes in 2021, the Russian Agriculture Ministry's Agroexport Center said, citing preliminary data from the Federal Customs Service. Read More

Benefits of Egypt's Joining BRICS's New Development Bank

The Parliament approved an agreement that allows Egypt to join BRICS group's New Development Bank, which comes as a significant addition that supports development plans and priorities of the country, and enhance Egypt's ability to achieve its economic, political and social objectives. Read More

Egypt's Central Bank Keeps Interest Rates Unchanged During 2023 First Meeting
The Monetary Policy Committee decided, to keep the Central  Bank of Egypt’s interest rates unchanged during its first meeting in 2023. Read More

Reports on Increase of Customs Tariffs on Some Commodities Dismissed
The media observatory of the customs authority denied reports circulated by some social media pages that customs duties on some commodities, including electrical appliances and Yamish Ramadan (dried fruits and nuts), were increased. Read More

Egypt’s Balance of Payments Hits USD 523.5 Million Surplus by End of September
Egypt’s balance of payments recorded an overall surplus of USD 523.5 million by the end of September 2022, according to the Central Bank of Egypt. Read More

10.9 Million Tourists Visited Morocco in 2022
Morocco has managed to recover 84 percent of tourists during 2022 compared to 2019, with nearly 10.9 million tourists visiting Morocco last year. Read More

Spain, Morocco Sign 19 Agreements to Deepen Economic, Bilateral Cooperation
Morocco and Spain concluded the high-level meeting through the signing of dozens of agreements to bolster economic and bilateral cooperation. Read More

Morocco and Spain are Stronger Together
The head of the Moroccan government Aziz Akhannouch hailed Morocco and Spain’s “strong, flexible, intelligent, and multidimensional” partnership, stressing that the two neighboring countries are “stronger together.” Read More

Sanchez Announces Spain’s USD 879 Million Credit Line to Boost Investment in Morocco
The Spanish Prime Minister, Pedro Sanchez, has announced a credit line of USD 879.48 million to deepen Rabat-Madrid’s bilateral cooperation through investments in Morocco. Read More
Southern Africa
New Trade Minister Talks Industrialisation
New Trade Minister Simplex Chithyola has said he wants to strengthen local industrialisation during his time at the helm of the Ministry of Trade and Industry. Read More

Internet Banking Subscribers Drop
The total number of subscribers for internet banking services dropped by 9.3 percent between December 2021 and December 2022, a National Payment Systems report from the Reserve Bank of Malawi shows. Read More

Seed Traders Press for Reopening of Markets
Seed traders have asked the government to consider reopening the redemption portal of seeds under the Affordable Inputs Programme to allow other smallholder farmers to access inputs now and during the winter cropping season. Read More

Survival Gets Tough for Low-End Urban Consumers
Despite maize prices eased in December last year, consumers found no relief for the food expenditure basket as household’s survival minimum expenditure continued to rise. Read More

South Africa
PetroSA Explains Why Eskom’s Diesel Prices Are So High
National oil company PetroSA says it is not overcharging Eskom for diesel, claiming that the higher prices are a result of market dynamics and a lack of a proper demand forecast from the embattled power utility. Read More

Mminele Steps Down as SA’s Clean Energy Funding Remains in Limbo
The head of the president’s climate finance task team, Daniel Mminele, has stepped down after his contract expired at the end of December, leaving question marks about the next steps for South Africa’s ZAR 1.5 trillion (approx. USD 88 billion) investment plan for a just energy transition at a time when international partners have been urging the government to fast track its implementation. Read More

Court Orders ANC to Hand Over Cadre Deployment Records to DA
In a blow to the ANC’s defence of its cadre deployment policy, the high court in Johannesburg ordered the governing party to hand over its cadre deployment committee records to DA public service & administration shadow minister Leon Schreiber within five days. Read More

Fujitsu Introduces Continuous Education Program for Channel Partners
Fujitsu’s SELECT Expert Channel Partners can now more easily acquire, hone and refresh their valuable IT skills that provide a competitive advantage. Read More

BoZ Pushes Up Reserve Ratio by 2.5 Percent by Prop Weak Kwacha
The Bank of Zambia has increased the statutory reserve ratio with effect from Monday, February 13th 2023 in a bid to support the weakening Kwacha. Read More

CEEC Increases Empowerment Fund for Year 2023 to K377 Million from K365 Million
The Citizens Economic Empowerment Commission (CEEC) has disclosed that government has increased the citizens empowerment fund from 365 Million Kwacha from last year’s allocation to 377 Million Kwacha to fund economic empowerment initiatives this year. Read More

Chinese Chamber of Commerce Hails Government for Providing Conducive Environment for Investors
Finance and National Planning Minister Dr Situmbeko Musokotwane says the government’s overall goal is to simplify the process of attracting investments in the country. Read More

Government Undertaking Project Aimed at Turning Agricultural Waste into Energy
Minister of Green Economy and Environment Collins Nzovu says his ministry is undertaking a pilot project aimed at converting agricultural waste into charcoal briquettes as a way of curtailing charcoal burning. Read More
Western Africa
Cote d'Ivoire
Appointment of Ambassador of Republic of Côte d’Ivoire to Sri Lanka
The Government of the Republic of Côte d’Ivoire with the concurrence of the Government of Sri Lanka has appointed Mr. N’dry Eric Camille as Ambassador Extraordinary and Plenipotentiary of the Republic of Côte d’Ivoire to Sri Lanka based in New Delhi. Read More

Next400 Launches Project for Black Communities Globally
Next400, a community-driven effort to shape the next 400 years for the black community globally, has launched a project on the Sutudu online digital platform. Read More

Gold Fields, Kosmos Energy Join List of Companies Disputing Tax Bills by the GRA
Gold Fields and Kosmos Energy have joined a list of companies disputing back tax bills by the Ghana Revenue Authority. Read More

Feasibility Completed, Project to Include Aircraft Repair Centre
The project, expected to be sited near Komenda in the Komenda Edina Eguafo Abrem Municipality in the Central Region, will have an aircraft repair centre to be the only one in West Africa to serve the entire sub-region. Read More

BoG Ready to Support Banks with Liquidity Arrangements
The central bank stands ready to safeguard the financial sector with plans to provide exclusive liquidity arrangements to banks, aside from the Ghana Financial Stability Fund, that may be affected by the Domestic Debt Exchange Programme, Bank of Ghana Governor, Dr. Ernest Addison, has assured. Read More

Buhari Charges MOFI to Grow FG’s Assets from NGN 10 Trillion to NGN 100 Trillion By 2033
President Muhammadu Buhari has charged the Ministry of Finance Incorporated to grow its Assets Under Management from the current value of NGN 18 trillion (approx. USD 39 billion) to at least NGN 100 trillion (approx. USD 217 billion) in the next 10 years. Read More

Nigeria, 6 Other Countries to Benefit from AfDB’s USD 1 Million Technical Grant for Sustainable Transport
The Nigeria Data Protection Bureau has opened an investigation into allegations of data breach by two Nigeria banks; GTB and Zenith Bank. Read More

FEC Okays NGN 15.569 Billion for Road Construction Refund to Two States, OGFZA Project, Other Contracts
The Federal Executive Council (FEC) rose from its weekly meeting in Abuja, with an approval of the total sum of NGN 15,569,016,812 (approx. USD 34 million) for various contracts in the Works and Housing, Education and Industry, Trade and Investment ministries. Read More

Moody’s Downgrades Nine Nigerian Banks
In a statement posted on its website, it listed the banks affected to include Access Bank, Zenith Bank, First Bank of Nigeria, Guaranty Trust Bank, Union Bank of Nigeria, Fidelity Bank, First City Monument Bank, and Sterling Bank. Read More
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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