25 November 2022
Eastern Africa
Ethiopia’s Electricity Export to Kenya Lays Crucial Foundation for Regional Integration
Ethiopia’s electricity supply to Kenya on a trial basis will lay a crucial foundation for regional economic integration, according to Ethiopian Electric Power. Read More

Growing FDI Would Benefit from Gov’t-TPLF Peace Deal
There are indications that the flow of Foreign Direct Investment to Ethiopia, which has been on the increase despite the conflict in the north and COVID, would benefit from the recent peace deal, Investment Commissioner Lelise Neme said. Read More

Paron Trading Inks Deal to Start Agro processing in Bahir Dar Industrial Park
The Paron Trading PLC has signed an agreement with the Industrial Parks Development Corporation to start agro-processing investment in Bahir Dar Industrial Park. Read More

Researchers Stress Need to Tap Fish Resources in Omo River, Lake Turkana
An international aquatic biodiversity researcher team has stressed the need to tap the vast potential of fishery resources in Omo River and Lake Turkana. Read More

Nairobi Landowners Set to Pay Ddouble Rrates January
Property owners in Nairobi will from January pay up to double the current land rates as City Hall seeks additional levies from landowners to match the rally in land costs over the past 42 years. Read More

CBK Eyes World Bank Loans to Boost Forex Reserves
Kenya is eyeing loans from the International Monetary Fund, the World Bank Group and rich countries to lift its foreign-exchange reserves that dipped below the set minimum level for the first time since 2015. Read More

Bad Loans See Biggest Fall in 15 Years on Assets Auctions
The size of defaulted loans in September dropped by the largest monthly margin in 15 years on increased property auctions, repayment of non-performing debt and bad credit write-offs. Read More

Ruto Secures Korea Funding for Kenya’s Delayed Konza Ttech Ccity
Kenya’s President William Ruto has secured a USD 1 billion funding from South Korea to help set up a smart city at Konza, some 60 km southeast of Nairobi. Read More

Rwanda To Launch Avocado Sea Freight Shipment As Market Expands
Rwanda will launch its first ever sea freight shipment for avocado, with opening containers carrying 23 Metric tons to Dubai. Read More

Tanzania, South Korea Startups Ink Partnership Deal
The Tanzania Startup Association and the Korean Startup Forum have recently signed a memorandum of understanding to foster collaborations between the two parties. Read More

Tanzania keen on SGR Implementation
Prime Minister Kassim Majaliwa has said that the government will ensure that the Standard Gauge Railway project is built to agreed-upon standards and completed on time. Read More

Agri-investment accounts for 40 Percent in SEZs
Agricultural-related factories are dominating in special economic zones accounting for over 40 per cent of the total firms in the SEZs. Read More

Cooperatives Earn TZS 1.66 Trillion From Crops Sale
Cooperative societies bagged a total of TZS 1.66 trillion (approx. USD 711 million) during the previous fiscal year after selling various crops, Agriculture Deputy Minister Anthony Mavunde, has said. Read More

Crisis looms as debt hits UGX 80 trillion
As Uganda’s economy faces tough headwinds, it is difficult to tell which way the economy will turn to following some lapses from key decision makers, Prosper Magazine has established. Read More

Revisiting Uganda’s first electricity sector reforms
The Electricity Act, which was enacted on November 1, 1999 was borne out of the first power sector reforms—the Power Sector Restructuring and Privatisation Strategy - undertaken the same year. Read More

Uganda’s coffee export value expands 35 Percent in past year
The value of Uganda’s coffee export expanded 35 percent in the past 12 months, a new report by the country’s coffee regulatory body has said. Read More

MPs to investigate labour export companies
The Speaker of Parliament, Anita Among, has tasked the Committee on Gender, Labour and Social Development, to work with the line ministry to investigate companies involved in the export of labour to the Middle East. Read More
Northern Africa
Investments in Egypt's ICT sector to hit EGP 67.1 Billion in FY 2022/2023

Egypt’s Ministry of Planning & Economic Development issued a report clarifying the objectives and investments of the communications and information technology sector in the plan for the current fiscal year 2022/2023 - (FY 2022/2023) Read More

Egypt Initiative Supporting Local Industry
The government has exerted great efforts to support the Egyptian industry through different steps as part of the "Start" initiative. Read More

Naia Developments Intends to Invest EGP 30 Billion in Egypt’s Property Market Over 3 years
Egypt’s real estate developer Naia Developments has announced its inception in the local real estate market by launching the Naia West in Sheikh Zayed, west Cairo in the first quarter of next year, capitalizing on its successful experience in developing the Naia Bay project in Ras Al-Hikma, North Coast. Read More

Lozan Urban Development Group Launches Methaq Development an Egyptian-Saudi Partnership New Entity with Investments Exceeding EGP 5 Billion
Egypt’s Lozan Urban Development Group, the mother company which embraces several Egyptian and Emirati companies, has launched a new entity in an Egyptian-Saudi partnership under the name of “Methaq Development” to develop several distinctive urban projects in Egypt during the coming period with investments of up to EGP 5 billion. Read More

Microsoft, UM6P to Support Moroccan Student Developers, Startups, and SMEs
Morocco’s Mohammed VI Polytechnic University has partnered with Microsoft Africa Transformation Office to provide training and resources to Moroccan student developers, startups, and small and medium enterprises. Read More

UK Export Finance Invests EUR 4 Billion to Boost Trade Ties with Morocco
The Department for International Trade launched the “UK Export Finance” program in Morocco on November 23 at the British Embassy in Rabat. UK Export Finance will commit up to EUR 4 billion (approx. USD 4.1 million) to Moroccan buyers for projects in the region if at least “20 Percent of the content is sourced from UK businesses.” Read More

Germany Allocates €165 Million to Support Morocco’s Financial Reforms
Germany has committed to deliver €165 million (MAD 1.8 billion) to Morocco to increase the country’s financial inclusion and support for small businesses. Read More

Morocco Vows to Deliver Low-Cost, Green Electricity to Factories
In a bid to offset soaring fossil fuel prices and meet decarbonization targets, Morocco has reiterated its vow to deliver low-cost green electricity to industries. Read More
Southern Africa
IMF Tips Malawi on Taming Inflation
The International Monetary Fund has urged authorities to ensure that the monetary policy framework aims at restoring price as well as financial stability to take the country out of its fragile economic state. Read More

SRWB needs MWK 831 Billion for projects, aligns to MW 2063
Southern Region Water Board has unveiled an ambitious plan that requires USD 803 million to boost water coverage in line with aspirations of Malawi 2063 (MW2063), the country’s long-term development strategy. Read More

South Africa
Producer Inflation Downward Trend Continues in October
Producer prices at the factory gate in South Africa have softened to a five-month low, but remained elevated within double-digits as inflation remained sticky in spite of slowing global fuel prices. Read More

Kaap Agri Positioned for Another Year of Solid Earnings Growth
Kaap Agri, which trades in the agriculture, general retail and fuel retail sectors, lifted revenue 48.4 Percent to ZAR 15.7 million in the year to September 30 off the back of a 54.3 Percent increase in the number of transactions and higher fuel prices. Read More

SA Reserve Bank Hikes Repo Rate to 7 Percent
Lesetja Kganyago, South Africa's central bank governor, has announced the latest decision on interest rates in the country when the South African Reserve Bank’s  Monetary Policy Committee met for the last time this year. Read More

Woolworths Becomes Latest Top 40 Company to List on the A2X
Woolworths will become the 18th company from the JSE’s top 40 to list on the A2X, the high-end food and clothes retailer has announced. Read More

5G Will Enhance Economic Development-Hichilema
President Hakainde Hichilema says technology has the capacity to transform all the social and economic sectors of life ranging from education to agriculture. Mr Hichilema says Zambia stands to benefit immensely from the commercial launch of the 5G network, which has the capacity to turn around the country’s economic landscape. Read More

Government Intends to Hit 80 Percent Digital Inclusion Next Month
Minister of Technology and Science, Felix Mutati, says government intends to achieve 80 percent digital inclusion by the end of this year. Read More

Huawei Signs Global ITU Pledge to Help 120 million People in Remote Areas Connect to the Digital World
Huawei has signed a global commitment to join the International Telecommunication Union’s Partner2Connect digital alliance, which will bring connectivity to about 120 million people in remote areas in more than 80 countries by 2025. Read More
Western Africa
Government Contemplates a Debt Operation to Ease Pressures on Budget
Government has hinted of a debt operation aimed at alleviating the pressures on the national budget and restoring debt sustainability. Read More

2023 Budget: Debt-to-GDP Ratio at 75.9 Percent; Highest Since 2018
Ghana’s Finance Minister, Ken Ofori Atta, revealed in his presentation of the 2023 budget to Parliament that the total gross public debt as at September 2022 stood at GHS 467.37 billion which is equivalent to 75.9 Percent of Gross Domestic Product and the highest debt-to-GDP ratio since 2018. Read More

Cedi Depreciated by 53.8 Percent in 2022 – Ofori-Atta
Finance Minister, Ken Ofori-Atta has said Ghana’s currency lost its value against the major trading currencies by 53.8 Percent since the beginning of 2022. Read More

Nigeria, 16 Others Begin Test-Run of Single Air Transport Market Treaty
Nigeria and 16 African countries have agreed to begin implementation of the Single African Air Transport Market, starting with the test-run of the initiative. Read More

Gains in Airtel Africa, 15 stocks lift indices further by NGN 202 Billion
Transactions on the equities sector of the Nigerian Exchange sustained a rising profile as increased appetite in Airtel Africa and 15 stocks lifted market capitalisation further by NGN 202 billion. Read More

Group to Train 2000 Imo Women on SMEs, Financial Management
A non-governmental organisation, Naija Business Owners Forum, has disclosed plans to train over 2000 women in Imo State on Small Micro Enterprises and financial management. Read More

Power Minister Seeks Understanding Over Electricity Supply
The Federal Government has urged Nigerians to exercise patience over the state of electricity supply in the country, stressing that time is required for ongoing projects to translate to improvement in power supply across homes and industries. 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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