27 September 2022
Eastern Africa
Ethiopia Launches National Program to Improve Investment Climate
The national program has 80 activities that will be implemented by 10 implementing agencies. Prime Minister Abiy has attended the launching of the program. Read More

Ethiopian Airlines Wins Bid to Become Nigeria Air’s Technical Partner
Nigeria selected Ethiopian Airlines to become Nigeria Air’s technical partner after ET came out as a winner of the technical bidding process and financial bids by scoring 89/100 and 15/20, respectively. Read More

ADB, MoI Agree to Work Together on Industrial Parks
The Ministry of Industry of Ethiopia and African Development Bank vowed to work together with a view to implementing Ethiopia’s Industrial Parks Policy. Read More

Tea Prices Register Marginal Gain at Mombasa Auction
Tea prices at the Mombasa auction rose marginally in last week’s sale, easing the slide that had hit the market in the previous four sales on account of lower demand in the international market. Read More

CBK Under Pressure from Rich to Raise Borrowing Rates
Wealthy investors and financiers like banks and pension schemes are putting pressure on the Central Bank of Kenya (CBK) to increase the cost of government borrowing as global hikes in lending rates make local assets less attractive. Read More

Counties Have a Week to Use New System in War on Fraud
Counties have until October 1 to migrate their management systems to a unified human resource platform used across the public service in the latest effort at curbing pilferage especially in paying workers. Read More

Jamii Chips at Safaricom, Zuku Fixed Data Market
Jamii Telecommunications ate into the share of Safaricom and Wananchi Group’s Zuku in the fixed internet market in the year ended June 2022, adding 61,810 new users. Read More

Ebola: Rwanda Tightens Measures as Death Toll Increases in Uganda
All travellers entering Rwanda from Uganda are now subject to screening following an outbreak of Ebola Virus Disease in neighbouring Uganda. Read More

Calls Grow to Eliminate Malaria, Other Vector Borne Diseases
Vector-borne diseases pose a serious public health and economic burden to humanity and particularly to the African Region, officials said as a regional conference on malaria control kicked off in Kigali. Read More

Gorilla Tourism Revenues Up by 25 Percent
Rwanda Development Board says that revenues from gorilla tourism have increased by 25 percent from USD 131 million in 2020 to USD 164 million in 2021. Read More

Dar, Nairobi Trade Volume Soars
Trade volume between Tanzania and Kenya is growing by the day, if the long queue of trucks heading to the neighbouring country witnessed recently is anything to go by. Read More

Tanzania to Partner with India in Irrigation Schemes
Tanzania will partner with India in establishing irrigation schemes in 22 largest water basins to boost agriculture output in the country. Read More

'Support Govt's Efforts in Delivering Quality Health Services'
Deputy Permanent Secretary Ministry of Health Dr Seif Shekalaghe has implored development stakeholders in the country to continue supporting the government's efforts in delivering quality health services to Tanzanians. Read More

Dodoma Based School Come Up with Virtual Learning Programme
St. Mary's International School Dodoma Campus will start an online school programme from next year as part of implementation of a five-year development action plan focusing on transition in service provision. Read More

A Regulated Pensions Environment Breeds Transparency and Accountability
There was a time when the retirement benefits sector in Uganda was defined by gross mismanagement, lack of transparency and accountability, outright corruption and brazen embezzlement of savers' money. Read More

Social Media, Tech Firms Have Until 30 October to be VAT Compliant
Uganda Revenue Authority says they have been negotiating with non-resident tech companies to start collecting value added tax on commercial proceeds whose sold to country targets Uganda. Read More

Government to Start Collecting Vat on Facebook Advertisements on 1 October
Small and medium-sized business owners in Uganda will now have to dig deeper into their pockets after the government-imposed VAT on Facebook advertisements. Read More

We Want to Reduce Cost of Gigabyte of Data to UGX 96,000 - ICT Minister
Government is seeking to reduce the cost of a gigabyte of data from the current USD 35 to at least USD 25.  Read More
Northern Africa
His Highness Sheikh Abdullah bin Zayed Meets Algerian Foreign Minister on Sideline of United Nation General Assembly

H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has met with Ramtane Lamamra, Minister of Foreign Affairs of Algeria, on the sidelines of the 77th session of the United Nation General Assembly in New York. Read More

Algeria Looks to Promote Trade, Economic Cooperation with Vietnam
Algeria is committed to developing economic cooperation and trade with Vietnam by establishing a strategic partnership mechanism capable of fully exploiting the economic potential of the two countries on the ground of mutual benefit, acting director general of the National Agency for the Promotion of Foreign Trade  Abdelatif El Houari has said. Read More

Algeria Expects its Foreign Trade Surplus to Exceed USD 17 Billion
Algeria expects its foreign trade surplus to exceed USD 17 billion by the end of the year and for exports of non-oil products to reach USD 7 billion. Read More

Environment Minister Signs Agreement on Solid Waste Management in Sharm El-Sheikh

Egypt’s Minister of Environment Yasmine Fouad announced the signing of a contract with an alliance between Beeah Group and Green Planet Company to provide solid waste collection, transportation, street cleaning, and public utilities services in the neighbourhoods of Sharm El-Sheikh, South Sinai. Read More

High-level Spanish Business Delegation to Visit Cairo to Discuss New Trade, Investment Opportunities in Egypt
The Spanish Institute for Export and Investment and the Spanish Economic and Commercial Office in Cairo are organising the second edition of the Egypt-Spain Multilateral Partnership Forum, which will be held in Cairo from 27 to 28 September. Read More

AHK Egypt to Conclude EU-funded Tex-Med Alliances Project Early October
The Tex-Med Alliances project, funded by the European Union, will conclude its activities with a closing event on 4-5 October at the Semiramis Hotel in Cairo. Read More

Egypt, UNDESA Discuss Cooperation
Egypt’s Minister of International Cooperation Rania Al-Mashat concluded her bilateral meetings within the activities of the 77th session of the United Nations General Assembly in New York. Read More

Morocco Host African Parliamentarians
The Bureau Members of the Pan-African Parliament are on a three-day working visit in Morocco aimed at exchanging experience. Read More

Morocco Adopts New Rules for Advance Clearance of Imported Goods
Morocco’s Administration of Customs and Indirect Taxes issued a statement on 26 September to define the new rules governing the procedure for advance clearance of goods imported by sea and air. Read More

Morocco’s Kitea Pledges to Source 38 Percent of Manufacturing Material Locally
As part of a new deal with Morocco’s trade and industry ministry, furniture manufacturing company Kitea commits to sourcing 38 percent of components locally, instead of relying on imports. Read More

British Emmerson Secures USD 6 Million Investment for Potash Factory in Morocco
Emmerson a British company producing fertilizers, announced securing USD 6 million in investment funds to develop the Potash factory in Khemisset, a town 100 kilometers east of Rabat. Read More

Market Closures Spread Across the Country Amid Economic Insecurity
In protest against tax increases by state governments in Sudan, markets in El Obeid, capital of North Kordofan, El Gedaref, capital of El Gedaref state, and Ed Damazin, capital of Blue Nile state, will close between Sunday and Thursday, as the country's economy continues to stagnate. Read More
Southern Africa
Commercial Banks Recall GBP 20, GBP 50 Notes
Local commercial banks have advised Malawians in possession of GBP 20 and GBP 50 banknotes to deposit them with their respective banks before 30 September. Read More

Fund Says 42 Percent of Youths Benefit from MWK 43.8 Billion Loans
National Economic Empowerment Fund says 42 percent of the youth have benefited from the MWK 43.8 billion (approx. USD 43 million) soft loans disbursed thus far. Read More

Authority Upbeat on Cannabis Exports
Cannabis Regulatory Authority has said the country would start exporting cannabis next month, having secured markets for the product. Read More

MWK 74 Billion Project Hangs on Thread
The government risks losing out on a MWK 74 billion (approx. USD 72 million) loan facility it obtained from the World Bank for the Digital Malawi Project due to delays in procurement processes. Read More

South Africa
Goldman Sachs Positive on the Outlook for SA’s Finances
The government could start to stabilise its debt as early as this year and if it can hold the line on spending over the medium term, SA could be looking at a scenario where it is getting rating upgrades instead of downgrades, says Goldman Sachs. Read More

Standard Bank Considers Expansion in North Africa
Standard Bank is considering expanding beyond Sub-Saharan Africa for the first time by venturing into the North African nations of Morocco and Egypt in an effort to better serve multinational and SA-based corporate clients with operations in the largely Arabic-speaking region. Read More

SA Cannabis Company Sets Sights on Psychedelics and Wearable Tech
It is not about making people live longer but rather about prolonging health and vitality into old age, says Gabriel Theron, CEO and founder of the medicinal cannabis-focused business Cilo Cybin Holdings. Read More

Tiger Brands Soars After Trading Update
The share of food producer Tiger Brands closed more than 10% higher, its best one-day gain in more than 22 years. Read More

State Maintains Room for Private Sector on Bond, Treasury Market
To avoid crowding out the private sector from accessing liquidity in the domestic market, Government has yet again declined to borrow more than its limit during the treasury bills auction. Read More

Prevailing Economic Stability Encouraging Private Sector Participation -ZDA
The Zambia Development Agency says the prevailing economic stability in the country is encouraging private sector participation in investing in Zambia. Read More

The Mining Sector did not Get Tax Exemptions in the 2022 budget-Chamber of Mines
The Zambia Chamber of Mines has said that stakeholders in the mining sector should not mistake the much-needed competitive mining tax regime for tax exemptions. Read More

Vedanta Makes Moves into Car Battery Industry
Vedanta has set its eyes on Zambia with the prospect of investing in the electric car battery manufacturing sector. Read More
Western Africa
Cote d'Ivoire
Magnum Upscales its Female Empowerment Programme in Cote d’Ivoire with AWA Digital Ambassador Launch
Ice cream brand Magnum has launched AWA by Magnum, to celebrate upscaling Magnum's female empowerment programme throughout the brand’s cocoa farming communities in Cote d’Ivoire. Read More

Training on Access to Capital Markets for African Cities and Subnational Government
The training session offered the opportunity to renew the governance bodies of the Network of Directors and Heads of Financial Services of African local authorities. Read More

Operators and Regulator Come Together to Improve QoS
Telecoms operators in Cote d’Ivoire have met with representatives of the government and the Regulatory Authority for Telecommunications in Cote d’Ivoire to discuss quality of service (QoS) issues. Read More

Orange Unveils the Space to Test and Discover 5G in Cote d’Ivoire
Orange Cote d’Ivoire has opened its Orange 5G Lab, devoted to digital professionals, start-ups and businesses. Read More

BoG Maintains Tough Stance on Inflation Fight
Bank of Ghana Dr. Ernest Addison has indicated that the monetary authority will not relent in its battle to beat down inflation and attain price stability, despite global and local pressures militating against its efforts. Read More

KIA Gets First Standard Certified Airline Repair Facility
3AMS-CELMS is to operate Ghana’s first Maintenance Repair and Overhaul facility at Kotoka International Airport. The company, according to Ben Owusu, a Senior Aviation Safety Inspector and Manager at Quality Assurance, is nearing the completion of its certification process that was started some five years ago. Read More

Bankers Apprehensive over Treasury Debt Restructuring
Amid the imminent restructuring of the nation’s public debt, bankers in the country are entreating managers of the economy to be circumspect in their decision-making so as not to destabilise the budding financial sector and erode recent gains made; especially as it pertains to investor confidence. Read More

Forum on Responsible Mining Held in Accra
Wacam, a premier community-based human rights and environmental mining advocacy non-governmental organisation (NGO), in collaboration with its partners, Oxfam, Care International, DKA Austria and OSIWA, has organised a responsible mining forum in Accra. Read More

Nigeria to Commence AfCFTA Participation in Q4 – Committee
The committee for the African Continental Free Trade Area has said that Nigeria will be participating fully in the agreement by the last quarter of 2023. Read More

Freeing Forex to Boost IT, Other Trades
In the technology space, while the growing maturity of Africa’s payment systems infrastructure has improved financial access, interoperability and cross-border money exchange remain big challenges. Read More

FIRS to Governors: Credit Projects to Taxpayers
The Federal Inland Revenue Service (FIRS) has urged governments to report projects executed by them as being funded by taxpayers. Read More

Metaverse to Open New Vistas  
With just eight more years left to achieve the Sustainable Development Goals, the burden of ending poverty, responding to climate change and achieving equality for all signals the urgency of clearly-focused solutions in addressing these crises through technology. Read More
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