Ethiopia
PM Abiy Arrives in Arba Minch for Working Visit
Prime Minister Abiy Ahmed has arrived in Araba Minich for working visit. Read More

PM Abiy Awards Former Leaders for their Contribution to Promoting Pan-Africanism
Prime Minister Abiy Ahmed has awarded 17 former leaders of African countries for their contribution toward promoting Pan-Africanism and African unity. Read More

Artificial Intelligence Institute, Whale Cloud and Kehali Strategic Advisory Sign MoU
The Ethiopian Artificial Intelligence Institute, Alibaba Group’s Whale Cloud, and Kehali Strategic Advisory have signed a trilateral Memorandum of Understanding (MoU). Read More

Ethiopia Expects Over 160 Million Quintals of Wheat by July
The wheat harvest Ethiopia expects by early July 2023 will surpass a record 160 million quintals, Agriculture State Minister Meles Mekonnen disclosed. Read More

Kenya
Bulk Wheat Orders Offer 3-Month Price Reprieve
Kenyan consumers should brace for a fresh rise in wheat products should the Russia blockade of grains from Ukraine through the Black Sea persist beyond January. Read More

CMA Roots for Return of Mobile Bond Investments
The Capital Markets Authority (CMA) has called for a revival of the M-Akiba mobile bond programme, saying it will enable more Kenyans to access the returns on offer from government bonds at a time other asset classes are offering low or negative returns. Read More

Co-op Bank to Finance Purchase of CIC Quarter-Acre Plots in Kiambu
Co-operative Bank is set to finance the purchase of CIC’s subdivided plots located in Kiambu County by customers seeking to buy the properties and use them for development. Read More

NCPB’s KES 5.7 Billion Land in Private Hands
The National Cereals and Produce Board (NCPB) risks losing property worth KES 5.7 billion (approx. USD 47 million) encroached by private individuals and entities, the State auditor has warned. Read More

Rwanda
Kigali Airport Conducts Ebola Preparedness Drills
The Kigali International Airport carried out Ebola simulation exercises, preparing the emergency response team in case they receive a suspected case of the highly contagious virus. Read More

Imbuto Foundation Launches iAccelerator Fifth Edition
Imbuto Foundation launched the fifth edition of iAccelerator (Innovation Accelerator) programme with a focus on engaging the youth in finding innovative solutions to sexual reproductive and mental health issues. Read More

Ykee Benda Launches Kigampala Festival
Ugandan star Wycliffe Tugume, popularly known as Ykee Benda, has launched Kigampala Festival, an annual festival that aims to celebrate music, culture and art with an underlying goal to build connection between the Uganda and Rwanda community, slated for 17 December, In Kampala. Read More

Tanzania
Tanzania Aims At 90 Percent Clean Energy
President Samia Suluhu Hassan announced a fresh sweeping climate package aiming to widen access and use of clean energy by between 80 and 90 percent during the next 10 years. Read More

Govt Embarks on Amanimakoro-Ruanda Road Project
The government has embarked on construction of a TZS 60.4 billion (approx. USD 26 million) Amanimakoro-Ruanda Road in Ruvuma Region to facilitate public transport and transportation of goods in the region. Read More

Tanzania Penetrates US Cashew Nut Market
Tanzania has burst into United States (US) cashew nut market by exporting at a go and directly an eight-tonne air cargo of processed cashew nuts to New Orleans, Louisiana, opening the door for future shipments. Read More

Zanzibar Authorities Move to Curb Measles, Ebola
Zanzibar First Vice President Othman Masoud has urged members of the public in isles to take precautionary measures against measles and Ebola, which has been reported in neighboring Uganda. Read More

Uganda
EU-UG Business Forum: Museveni Asks Europeans to Invest in Uganda
President Yoweri Museveni at Uganda and European Union has called upon European investors to take advantage of Uganda’s profitability and invest in Agriculture and value addition. Read More

Manufacturing Takes Biggest Share of UBD Loans       
Manufacturing took the largest share of Uganda Development Bank’s (UDB) financing in the third quarter of 2022, according to Ms Patricia Ojangole, the bank’s Managing Director. Read More

Banks Can De-Risk Lending to SMEs   
SMEs are the life blood of Uganda’ economy. According to the Uganda Bureau of Statistics, there are an estimated 1,500,000 Micro Small and Medium Enterprises in Uganda which employ around 2.5 million people in Uganda's workforce. Read More

Algeria
Amir Welcomed in Algiers by Algerian President, Arab League Secretary-General
Amir H H Sheikh Tamim bin Hamad Al Thani arrived in Algiers, Algeria, to participate in the meetings of the 31st Ordinary Session of the Council of the Arab League at the summit level. Read More

Qatar-Algeria Ties a Model for Consensus, Strategic Partnership
Algeria relations are historic and growing. Honed by decades of co-operation and synergy between the leaderships of the two countries, these stem from a firm belief in the goal of unity and a common destiny, based on solid foundations, and sincerity linking the two countries and people in political, social, and economic fields. Read More

Egypt
New Cairo Technological University Host First Metaverse Summit in Egypt
The New Cairo Technological University launched the first international forum for applied technology “Kemtech Forum 2022” under the auspices of Mohamed Ashour, Minister of Higher Education and Scientific Research. Read More

A Number of International Companies are Considering Providing Outsourcing Services from Egypt: ITIDA
Amr Mahfouz, CEO of the Information Technology Industry Development Agency, said that a number of international companies in the outsourcing industry are considering opening outsourcing centres in Egypt. Read More

Beyti Directs EGP 5bn of Investments to Meet Market Needs, Develop Dairy Industry
Beyti Egypt’s CEO Mark Wiley stated that the Egyptian market possesses great and promising potential, making it one of the most important markets in the region. Read More

Property Buyers Hedged Against Inflation, Currency Devaluation by Investing in Real Estate: JLL
The sales market in Cairo witnessed higher levels of activity in the third quarter of 2022 as buyers looked to hedge against inflation and currency devaluation by investing in real estate. Read More

Morocco
Bank of Africa, EnR, AMEE Join Forces to Boost Climate Finance in Morocco
The Bank of Africa Group, Morocco’s third largest banking group by market capitalization, is partnering with the Moroccan Agency for Energy Efficiency (AMEE) and the Renewable Energy Cluster (EnR) to coordinate efforts on decarbonizing the economy. Read More

Tendrara Gas Project: Saipem Sells Onshore Drilling Business to KCA Deutag
Italian international onshore and offshore drilling contractor Saipem has transferred its onshore drilling operations in Morocco to Scottish drilling company KCA Deutag. Read More

Standard Bank Plans to Enter Morocco, Expand in North Africa
Johannesburg-based Standard Bank has announced its plans to expand into North Africa, particularly in Morocco and Egypt. Read More

Huawei’s Youssef Ait Kaddour: Cybersecurity Is Part of Huawei's DNA
Security is an integral part of Huawei's digital platform, as the company provides resilient end-to-end network security systems to ensure the safety of customer data and applications, according to Huawei's Chief Cybersecurity Officer in Morocco, Youssef Ait Kaddour. Read More

IMF Sees Malawi Debt to Gross Domestic Product Ratio at 74.5 Percent 
Malawi risks having its debt-to-gross domestic product ratio rising further to 74.5 percent by end of the year. This is according to figures on the International Monetary Fund (IMF)’s website. Read More

Banks Challenged on Digital Transformation
Commercial banks have been challenged to embrace digital transformation to help lower costs of banking in the country. Read More

MCCCI, SMEs Rue Policy Rate Hike
Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and small businesses have said last week’s 400 basis points increase in the policy rate to 18 percent will likely stifle investment in the short to medium-term. Read More

Election Observers’ Role Under Scrutiny
Nice Public Trust has just launched a book Democracy Tested which reflects on the 2019 elections. The book covers a variety of issues but in this entry, Lilongwe Assistant Bureau Chief SUZGO CHITETE focuses on one of the chapters which raises questions on the relevance of election observers. Read More

South Africa
Written Submissions Give Thumbs Down to Education Bill
The Basic Education Laws Amendment Bill has elicited strong opposition among the stakeholders who have made written submissions to parliament, with the majority of inputs entirely rejecting the government’s proposed reforms, MPs heard. Read More

Higher-Than-Expected South Africa Trade Surplus Surprises Sars
South Africa’s balance of trade surprised economists, recording a trade surplus above market expectations in September, SA Revenue Service (Sars) data showed. Read More

Consumers Rush to Credit to Keep Their Heads Above Water
Private sector credit growth surged in September, defying expectations and rising at its steepest pace in seven years as consumers battling the cost-of-living crisis tapped their credit cards and drew down their overdrafts, while base effects and energy reforms lifted corporate demand for debt. Read More

Dis-Chem Earnings Jump as it Shakes Off Covid
Pharmacy and healthcare retail group Dis-Chem says it is trading at pre-Covid levels in South Africa, with expansions and acquisitions boosting its reach and driving profitability. Read More

Zambia
Zambia Celebrates 70 Percent COVID-19 Vaccination Achievement
President Hakainde Hichilema has commended the efforts of various stakeholders for Zambia’s attainment of the 70percent COVID-19 vaccination set target across the country. Read More

Fuel Price Increased
The Energy Regulation Board has increased the prices for petroleum products effective mid-night of Monday, 31 October 2022. Read More

World Vision Zambia Signs MoU with Cooperating Partners to Support the Strong Girls Strong Zambia Campaign
World Vision Zambia, ZANACO Bank and CFAO Motors Zambia have signed a three-year memorandum of understanding, MoU to support the Strong Girls Strong Zambia campaign, which aims at empowering 15,000 girls retrieved from child marriages and those at risk to live safer, healthier, more productive lives by 2025. Read More

ZDA Records Increase in Investment
Zambia Development Agency (ZDA) says it registered about 95 investment pledges worth USD 1.1 billion in the third quarter of this year, 73.5 percent higher than the USD 631 million recorded last year in the period under review. Read More

Cote d'Ivoire
President in Cote d’Ivoire for Investment Forum
President Mnangagwa arrived here last night to attend the Africa Investment Forum Market Days 2022 at the invitation of the African Development Bank. Read More

Ghana
Rationalise Operations, Protect Employees – CIMG President
The President of the Chartered Institute of Marketing Ghana (CIMG), Dr Daniel Kasser Tee, has called on business leaders to rationalise their operations to be able to protect the interest of investors, employees and customers. Read More

Financial Institutions Breach Cybersecurity Act — Only 28 Percent Registered Their Infrastructure
Only 28 percent of financial institutions operating in the country have registered their information technology (IT) infrastructure as a critical information infrastructure with the Cyber Security Authority, an official from the authority, Benjamin Ofori, has disclosed. Read More

Bank of Ghana Denies Collaborating with Illegal Forex Traders at Cowlane
The Bank of Ghana has denied allegations that it collaborates with illegal foreign exchange traders at Cowlane black market in Accra to transfer funds abroad. Read More

Debt Sustainability Critical in Ghana’s Climate Action, National Development – World Bank 
The World Bank has charged Ghana to improve its debt sustainability and creditworthiness to support the country’s climate actions and national development agenda. Read More

Nigeria
Nigeria’s Energy Transition Plan Requires USD 1.9 Trillion Till 2060—Osinbajo
Yemi Osinbajo, the Vice President of Nigeria, said that Nigeria’s Energy Transition Plan would require funding of about USD 1.9 trillion up to 2060.  Read More

FG Exceeds Loan Target by NGN 1.12 Trillion, Borrows NGN 5.3 Trillion
The Federal Government exceeded its borrowing by NGN 1.15 trillion (approx. USD 2.6 billion) for the period between January and August 2022. Read More

Mobile Services Add USD 140 Billion to Nigeria, Other SSA Economies
In 2021, mobile technologies and services generated around eight per cent of Gross Domestic Product in Nigeria and other sub-Saharan (SSA) Africa countries, a contribution that amounted to almost USD 140 billion of economic value added in 2021. Read More

Firm Provides Solution to Allow Nigerians Open, Manage Foreign Accounts
Tranzfar, an international payment solution provider focused on cross-border money transfers from European Union countries to Africa, has launched its latest innovative product ‘The Freedom Bank Account’ in Nigeria for seamless payment of overseas bills, utilities, obligations and increased global financial participation. Read More