14 October 2022
Eastern Africa
Ethiopia’s Green Legacy Success would be Agenda Item for 10th Tana Forum
The process and success of Ethiopia’s Green Legacy Initiative would be tabled for discussion to the 10th Tana High Level Forum, which is dedicated to issues of peace and security in Africa. Read More

Israel, Ethiopia Working Closely in Innovation and Technology, Says Ambassador Aleligne Admasu
Ethiopia and Israel are working closely in various fields of areas, especially in innovation and technology, Israel’s Ambassador to Ethiopia said. Read More

Ethiopia, Indonesia Need to Further Explore Potentials in Universities for Betterment of Countries
Ethiopia and Indonesia need to further explore potentials in universities in order to make the two countries better and stronger, Indonesia’s Ambassador to Ethiopia said. Read More

Ethiopia, Bahrain Agree to Cooperate in Tourism Sector
Head of the Ethiopian Consulate General Office in the Kingdom of Bahrain, Ambassador Awall Wagris met and discussed with Tourism Minister of Bahrain, Fatima bint Jaffer Al Sairafi. Read More

LSK Petitions Supreme Court to Stop Phone Spying Gadgets
Lawyers have petitioned the Supreme Court to stop the communications regulator from installing an eavesdropping device on mobile phone networks that is claimed will give the watchdog access to other customer data, including calls, messages and financial transactions. Read More

President Ruto Returns Railways, Ports to Parent Ministries
President William Ruto has returned three cash-rich parastatals that had been taken to the Treasury to their parent ministries in a reorganised government. Read More

Caps on Wholesale Fuel Prices to Make a Comeback
Caps on wholesale prices of fuel will be reintroduced following an end to the subsidy on pump prices, in a move meant to shield independent dealers who have for months been forced to negotiate the prices of bulk supplies with the big players. Read More

Health Ministry Partners to Effect Flour Fortification
The Ministry of Health, development partners and county governments are pooling together resources to ensure compliance in flour fortification as the State moves to tame malnutrition. Read More

Networking and Fun as Youth Connekt Gets Underway
'Work hard, play hard' often rolls off the tongue when describing the fun side after a productive day. For the Youth Connekt Summit, the party came before work started. Read More

Tanzania Slashes Park Fees to Attract East African Tourists
Tanzanian authorities have lowered park fees for East African citizens to attract more tourists from neighbouring countries. Read More

Netherlands to Advance Smart Agriculture in Mbeya, Iringa 
Embassy of the Kingdom of the Netherlands has partnered with a local non-governmental organization, Earth Frontiers to advance climate-smart agriculture in Iringa and Mbeya regions.  Read More

TPA Eyes Efficiency to Cater for Rising Cargo Volumes
Tanzania Ports Authority (TPA) eyes to boost further its operational efficiency and provide cost-effective port services to cater for the rising cargo volumes. Read More

NMB Unveils Special Campaign for New Cashew Season
The 2022/23 cashew nuts season starts in earnest tomorrow targeting to raise production of the crop to 400,000 tonnes, a goal whose attainment NMB Bank has said is ready to finance and fully prepared to help deliver. Read More

President Museveni Signs into Law Nsereko Bill    
President Yoweri Museveni has signed into law the Computer Misuse (Amendment) Bill, 2022, which was passed by parliament recently. Read More

Kenya Buys Half of August Sugar from Uganda 
Kenya bought half of its imported sugar from Uganda in August, making Nairobi a leading destination for Kampala’s exports during the month. Read More

Afreximbank Unveils Academy to Train 8,000 Africans on Trade-Related Subjects
Africa’s multi-lateral lender, African Export-Import Bank has launched the Afreximbank Academy a learning, knowledge, and networking hub designed to help advance African trade through capacity building and leadership. Read More

RockCity Radio Mast to be Placed on Summit of Tororo Rock 
Tororo Broadcasting Network management has given contract engineers Willy Ntege and Henry Okello up to 1 December to have the radio’s mast placed on the summit of Tororo Rock ready to transmit. Read More
Northern Africa
Algeria Has no Particular Potential for Boosting Gas Exports, Inviting Russia to Invest

Algeria in recent years has not invested significantly in the development of gas production and amid growing domestic consumption does not have much opportunity to increase gas exports, Ambassador Extraordinary and Plenipotentiary of Algeria to Russia Smail Benamara said at the St. Petersburg International Gas Forum. Read More

Stellantis Signs Framework Deal for Fiat Vehicle Production in Algeria
Carmaker Stellantis said it had signed a framework agreement with Algeria to develop activities of its Fiat brand in the county, including for local production of vehicles. Read More

Bourse Posts Collective Gains, All Indexes Up

Egyptian Exchange indexes posted collective gains at the close of Thursday's trading session, backed by purchases by Egyptian and Arab financial institutions and investment funds, against sales by foreign institutions. Read More

World Bank Intends to Cooperate with Egypt in Food Security
Head of the World Bank Group, David Malpass, highlighted the strong relations with member countries, including Egypt, noting that the Bank provided Egypt with USD 500 million to support the efforts of Food Security and Resilience Enhancement. Read More

Egypt Calls for Developing Flexible Mechanism for Exchange of Wheat, Fertilizers between African Countries
Minister of Finance, Mohamed Maait, stressed the need to create a flexible mechanism for the exchange of basic commodities between the countries of the African continent, especially wheat and fertilizers, in a way that helps in maximizing the capabilities of African economies. Read More

Egypt Allows Expats to Import Passenger Car Without Customs Duties
The Egyptian Cabinet approved, a draft law that gives Egyptians expatriates the right to import a private passenger car, for personal use, exempt from taxes and fees, in return for paying a cash amount in hard currency, to be recovered after 5 years, in a move aimed at strengthening the country's dollar resources. Read More

Spain Relaunches Undersea Railway Tunnel Linking It With Morocco
The Spanish government has announced their plan to reactivate the undersea railway project set to link Morocco and Spain through the Strait of Gibraltar. Read More

Russia to Support Morocco in Nuclear Energy Sector
Russian news agency TASS reported on Wednesday that Russia approved the nuclear cooperation agreement which it had signed with Morocco in 2017. Read More

GITEX Africa 2023 to Celebrate Morocco’s Growing Tech, Startup Ecosystem
As hundreds of global entrepreneurs gather this week in Dubai for the world’s largest tech show GITEX Global, Marrakech was named as the host of the upcoming edition scheduled from 31 May  to 2 June 2023.  Read More

Morocco’s Rhamna Is Emerging as ‘Beacon’ for Sustainable Development
Morocco’s Rhamna province is emerging as a national beacon of knowledge, social innovation, and sustainable development, Governor of Rhamna Province Aziz Bouigane said. Read More
Southern Africa
World Bank Outlines Development Hurdles
The World Bank says the country’s reliance on subsistence and rain-fed agriculture as well as an unpredictable business environment remain main challenges affecting the country’s economic and development potential. Read More

Minister Woos FDIs into Mining Industry
Minister of Mining Albert Mbawala has expressed hope that three Australia-based companies and a Ghanaian firm will soon invest in the country’s mining industry. Read More

Minority Shareholders Association Set to Launch November This Year
Minority Shareholders Association of Listed Companies says the group is set for its launch on 4 November this year. Read More

Investment Corporation Eyes Double Profit
The Malawi Agriculture and Industrial Investment Corporation has revealed that the company is poised to record a 100 percent profit jump to over MWK 1 billion (approx. USD 980,000) this year. Read More

South Africa
Early-Stage Entrepreneurial Activity in SA Surges by 62 Percent Over the Past 2 Years
We are seeing a surge in entrepreneurial activity despite the difficult economic conditions South Africa has endured over the past two years with many many entrepreneurs reporting that they have identified new opportunities because of the pandemic. Read More

Mining Production Falls for Seventh Consecutive Month
South Africa mining production recorded its seventh consecutive month of year-on-year decreases in August, dragged lower mainly by platinum group metals, gold and iron ore, as strikes and intensified load-shedding weigh heavily on the energy-intensive sector. Read More

African Bank Gets All Approvals for Grindrod Bank Transaction
African Bank says that all the conditions for the Grindrod Bank transaction have been met and all regulatory approvals obtained. Read More

PSG Konsult’s Growing Cash Pile
The outstanding feature of PSG Konsult’s interim results published for the six months to end-August 2022 is not that the group of insurance, investment and asset management businesses performed relatively well in a period of severe market volatility, but that it continues to generate copious amounts of cash. Read More

Zambia Association of Manufacturers Happy with Government Economic Interventions
The Zambia Association of Manufacturers has commended the government for the efforts they are making to stimulate economic growth in an endeavor to improve livelihoods in the economy. Read More

Zambian Gov't Says on Course to Resolve 'Crippling Debt Crisis'
The Zambian government said that it was on course to resolve the "crippling debt crisis" to create a conducive environment required for enhanced local and foreign investments as well as economic growth. Read More
Western Africa
Cote d'Ivoire
MTN Inks USD75 Million Deal with NuRAN in Cote d’Ivoire
MTN Cote d’Ivoire has signed a USD 75 million renewable five-year contract with Canadian infrastructure supplier NuRAN Wireless to expand its network coverage in rural areas. Read More

IMF Forecasts Fiscal Deficit of 9.2 Percent of GDP for Ghana in 2022
The International Monetary Fund is forecasting a fiscal deficit of 9.2 percent of Gross Domestic Product for Ghana in 2022. Read More

Ghana, 4 Other ECOWAS States get USD 250 Million EBID Support
The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved a total of USD 250 million for Ghana and four other member states to boost the oil & gas, energy, road infrastructure and agricultural sectors of West Africa. Read More

Morrison Records Bureau Launch Operations in Ghana
The Morrison Records Bureau, a subsidiary of the US-based Morrison Corporation, has launched its operations in Ghana. Read More

Two Electronic Auto Firms Merge Operations
Two companies in the electronic automobile business have combined forces to strengthen their operations and serve customers better. Read More

LCCI Urges Federal Government to Sustain NGN 1.97 Trillion Q2 Trade Surplus
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government on investments in export infrastructure and other mechanisms to sustain the country’s trade surplus of NGN 1. 97 trillion (approx. USD 4.5 billion) recorded in the second quarter of 2022. Read More

IMF Plans More Effective Debt Resolution Schemes
The International Monetary Fund said it was looking at a more effective debt resolution mechanism for heavily indebted countries. Read More

Senate Passes NGN 66.9 Billion Police Trust Fund budget
The Senate passed the NGN 65.905 billion (approx. USD 152 million) budget of the Nigeria Police Trust Fund for the year 2022. Read More

Naira Hits NGN 742/USD at Parallel Market
The naira has dropped to a record low of NGN 742 per dollar at the parallel section of the foreign exchange market, popularly called the black market. 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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