7 October 2022
Eastern Africa
PM Abiy Says Relation between Kenya, Ethiopia Is Established on Strong Foundations, Cordial Cooperation
The relation between Kenya and Ethiopia is established on strong foundations and cordial cooperation focused on matters of mutual interest, Prime Minister Abiy Ahmed said. Read More

Ethiopia, GAVI Keen on Strengthening Partnership
Deputy Prime Minister and Minister of Foreign Affairs of Ethiopia, Demeke Mekonnen conferred with Seth Berkley, CEO of GAVI, the Vaccine Alliance to strengthen the partnership between Ethiopia and GAVI. Read More

Safaricom Ethiopia Switches on Network, Services
Safaricom Telecommunications Ethiopia officially launched with the telco switching on its mobile telecoms network and services in the Capital Addis Ababa. Read More

Ethiopian, Russian News Agencies Sign Memorandum of Understanding
The Ethiopian News Agency and Sputnik News Agency have signed a Memorandum of Understanding to exchange news and cover important events in relations between Ethiopia and Russia. Read More

Oil Producers Deal to Hurt Ruto's Subsidy Plan
President William Ruto’s plan to fully scrap fuel subsidies will face major headwinds after the world's top oil-producing countries agreed to deeply cut exports to prevent erosion of revenues. Read More

KTDA Seeks KES 800 Million to Expand Specialty Tea Production Lines
The Kenya Tea development Agency (KTDA) is seeking KES 800 million (approx. USD 6.6 million) from the government to expand its production line for high value specialty tea following a surge in demand in the international market. Read More

Safaricom Eyes Data as Ethiopia Revenue Driver
Safaricom has formally launched operations in Ethiopia, signing up 200,000 subscribers in weeks as the telco moves into the capital Addis Ababa following a pilot test in 10 regional cities. Read More

SBM Sale Revealed in Court Amid KES 11 Billion CBK Support
Mauritian bank group SBM Holdings wants to sell its Kenyan subsidiary five years after entering the market through the buyout of Fidelity Bank that has continued to struggle despite receiving financial support from the Central Bank of Kenya (CBK). Read More

Rwanda, EU Sign RWF 72.5 Billion Deal for Climate-Resilient Agriculture
The government of Rwanda and the European Union signed a financing agreement worth EUR 69 million (approx. USD 68 million) to support climate-smart and inclusive agriculture. Read More

Govt Looks to Increase Use of Non-Custodial Penalties
The government is looking to increase the use of non-custodial mechanisms for convicts and detainees, thanks to a new policy developed by the justice ministry and got a cabinet approval recently.  Read More

Packaging Remains a Hindrance for Local Products – Rwanda’s AfCFTA Trade Pioneer
Recently, Rwanda began trading under the African Continental Free Trade Area in a pilot phase that seeks to test the environmental, legal, and trade policy basis for intra-African trade. Read More

Dar es Salaam, Doha Sign Deal to Boost Trade, Investments
President Samia Suluhu Hassan has witnessed the signing of a tripartite Memorandum of Understanding between the chambers of Commerce of Qatar, Tanzania Mainland and Zanzibar aiming at strengthening trade and investment relations. Read More

Dar es Salaam Capitalised on UNGA 77 Successfully
Tanzania’s participation in the recently concluded 77th session of the United Nations General Assembly (UNGA 77) was a success as the country managed to use the opportunity to strengthen ties with other member states. Read More

Samia to Grace Uhuru Torch Race Climax in Kagera
President Samia Suluhu Hassan will grace the climax of the Uhuru Torch race to be staged in at the national level on October 14th, this year at Kaitaba Stadium in Kagera Region. Read More

1.3 Million Farmers Registered for Subsidised Fertiliser
AS the ongoing exercise to register farmers for getting subsidized fertilizer has reached 1.3 farmers, so far, the government sets measures to curb smuggling of that farm input outside the country. Read More

Data Care launches Digitized Homemade Solution for Business Processes
ICT consulting firm Data Care has launched a homemade solution called ProMISe ERP, which swiftly digitalizes and automates business processes. Read More

BDS Framework to Become Focal Point of PDM 
Ramathan Ggoobi, the Finance Ministry Permanent Secretary, has said the BDS strategy framework will be vital in supporting the growth and survival of micro, small and medium enterprises under the PDM as well as the Emyooga programme. Read More

MTN's New Boss Has Her Work Cut Out 
MTN’s new chief executive officer Sylvia Mulinge has her work cut out as she takes over reigns at Uganda’s largest telecom. Read More

In Seeking to Find a Buyer, Game Failed and Opted to Close
Massmart, which operates Game in Lugogo, Kampala said, that whereas it had, in a 12-month review, explored the option of selling the store to a local or regional investor, it had failed thus opting to close. Read More
Northern Africa
Egyptian Businessmen Invited to Participate in Trade Expo Indonesia 2022 in Jakarta

Egyptian business community was invited to participate in the Trade Expo Indonesia 2022 in Jakarta due to convene on 19- 23 October, upon Indonesian ambassador to Egypt Lutfi Raouf’s invitation. Read More

Egypt’s Net Foreign Reserves Edge Up Slightly for First Time Since April
Egypt’s net international reserves rose slightly for the first time since April, providing a measure of relief as the North African nation seeks a loan from the International Monetary Fund. Read More

Egypt's Mona Makram to Participate in 9th UNAOC Global Forum in Morocco
Former Senator Mona Makram Ebeid will participate at the United Nations Alliance of Civilizations' 9th Global Forum slated for 22-23 November in the historical city of Fez, Morocco. Read More

Morocco, Saudi Arabia Sign Agreement to Boost Air Transport
Morocco and Saudi Arabia recently signed a bilateral agreement to boost air travel and develop their aviation sectors. Read More

Morocco’s Health Ministry, University Hospitals Sign USD 155.9 Million Partnership
Morocco’s Ministry of Health and Social Protection signed agreements amounting to MAD 1.7 billion (approx. USD 155.9 million) with five university hospital centers in Rabat, aiming to improve buildings and to stimulate renovations. Read More

Morocco Expands 2022 Budget by USD 1.1 Billion Amid Crisis
Morocco’s government announced the expansion of the 2022 budget by MAD 12 billion (approx. USD 1.1 billion). Read More
Southern Africa
Agricultural Fair Attracts 128 Exhibitors
About 128 businesses have registered to showcase their products and services at this year’s three-day National Agriculture Fair scheduled to commence today at the Trade Fair Grounds in Blantyre. Read More

Malawi Stock Exchange Buoyant in Third Quarter
Investors on the Malawi Stock Exchange have shown signs of resilience to economic challenges facing the landscape following a 1.7 percentage points’ growth in Malawi All Share Index year-on-year during the third quarter of 2022. Read More

Ministry Hails LLWB Work
The Ministry of Water and Sanitation has applauded the work by the Lilongwe Water Board under Lilongwe Water and Sanitation Project, saying it will help Malawi attaining UN’s Sustainable Development Goal 6 of providing all people with clean water by 2030. Read More

NBS Bank Adjusts Bid Bonds Limit to MWK 200 Million
Malawi Stock Exchange-listed NBS Bank has adjusted upwards bid bonds limit from MWK 100 million (approx. USD 98,000) to MWK 200 million (approx. USD 196,000), a development expected to ease pressure on businesses. Read More

South Africa
Major Red Flags Over Diesel Prices in South Africa
South Africa’s freight and agriculture industry has warned that higher diesel prices in October will have a knock-on effect on businesses and production, while talk of oil production cuts from OPEC and Russia has raised red flags for higher prices in the coming months. Read More

South Africa to Roll Out New Passport Services in New Zealand, Australia, the USA and Other Countries
The Department of Home Affairs says that it plans to expand the use of a Visa Facilitation Services model for passports in 2023, targeting countries with a high concentration of South African citizens. Read More

Richards Bay Minerals Announces 300GWh Solar Power Partnership
South Africa’s largest mineral sands producer Richards Bay Minerals has teamed up with international energy company Voltalia as well as local black economic empowerment partners to build a solar power plant in Limpopo. Read More

Persistent Decline in Electricity Output Threatens Third-Quarter GDP
Electricity production fell for a sixth consecutive month in August, and with the further power cuts in September and the prospect of more in the months to come. Read More

Visa Waiver to Increase Tourists, Investor Inflow
Minister of Tourism, Rodney Sikumba expects the number of tourists and investors to increase in 2023 following the visa waiver in some countries. Read More

Zambia-Namibia Sign MoU on Gas, Petroleum Pipeline
The government has signed the Namibia-Zambia Memorandum of Understanding (MoU) on cooperation in facilitating the private sector development and implementation of the Namibia, Zambia multi-product petroleum and gas pipeline. Read More

WARMA Calls for Protection of Water Sources
The Water Resource Management Authority (WARMA) has appealed to the public to protect water sources in the country to mitigate climate change resulting from human activities. Read More

Government to Construct 2000 Houses for Correctional Service Personnel Countrywide
The government says it will commence the construction of 2000 housing units for Zambia Correctional Service personnel, across the country. Read More
Western Africa
Cote d'Ivoire
Ukraine's Foreign Minister on first Africa Trip as Kiev Seeks Support
Ukraine's Foreign Minister arrived in Ivory Coast for talks with Vice President Tiemoko Meyliet Kone as Kiev scrambles to court African countries seen as sympathetic to Russia. Read More

SOFTS-NY Cocoa Climbs to One-Month High, Arabica Also Up
New York cocoa futures on ICE rose to a one-month high, boosted partly by crop concerns in top grower Ivory Coast, while arabica coffee prices were also higher. Read More

Ziebart Expands International Growth Across 7 New Countries
Ziebart International Corporation announced it has signed Master Franchise agreements in seven new countries, including The Netherlands, Azerbaijan, Iraq, Kuwait, Ivory Coast, Nigeria and Greece. Read More

50 Events Endorsed So Far for ‘December in GH’
A total of 50 events have so far been endorsed for the upcoming “December in GH” Events, Chief Executive Officer of GTA, Mr Akwasi Agyeman, has said. Read More

Ghana's Largest Creative Gathering to Explore African Influence on Design
dEX Artmosphere, Ghana’s leading creative gathering will host the 5th edition of its annual design conference on Saturday, 8th October 2022 to bring together graphic designers, animators, brand strategists, photographers, videographers, and advertising creatives. Read More

Bank of Ghana Raises Policy Rate to 24.5 Percent
The Bank of Ghana has raised the policy rate by 250 basis points to 24.5 percent. The Governor of the Bank of Ghana, Dr Ernest Addison announced the rate hike. Read More

Vodafone Foundation, GES Launch STEM Teacher Awards
Vodafone Ghana Foundation in partnership with the Ghana Education Service has launched its maiden edition of Science, Technology, Engineering and Mathematics teacher Awards in Accra. Read More

CBN Disburses NGN 2.1 Trillion to Real Sector
The Central Bank of Nigeria (CBN) says it has disbursed NGN 2.1 trillion (approx. USD 4.8 billion) to 426 projects to support the real sector of the economy. Read More

MAN to Federal Government: Halt Increase, Introduction of New Taxes
The Manufacturers Association of Nigeria (MAN), called on the Federal Government to shelve any plan to either increase tax rate or introduce new taxes, warning that it will further worsen the already difficult and high-cost operating environment for manufacturers and businesses. Read More

FG Inaugurates Committee to Secure Train, Rail Infrastructure
The Federal Government has inaugurated a committee to provide adequate safety measures in securing train and other railway infrastructures. Read More

Nigeria, Others Need 9 Percent GDP Growth Annually to Beat Extreme Poverty, World Bank Says
The world is unlikely to meet the goal of ending extreme poverty by 2030, according to a new World Bank study. The study finds that COVID-19 dealt the biggest setback to global poverty-reduction efforts since 1990 and the war in Ukraine threatens to make matters worse. Read More
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