26 July 2022
Eastern Africa
Ethiopia’s Coffee Export to China Continues to Increase
China expects coffee import from Ethiopia to grow further after increasing demand propels the East Asian nation to rank among the top ten destinations for Ethiopian coffee export. Read More

US Horn Envoy Due in Ethiopia, Talks between Federal, Tigray Authorities, GERD Main Agenda
Ambassador Mike Hammer, U.S. Special Envoy for the Horn of Africa, is due to arrive in Ethiopia for his second visit since his assumed the position. The Ambassadors’ tour between 24 July to 1 August will include Egypt, the United Arab Emirates, and Ethiopia, according to the State Department. Read More

Kenyan Firms Troop to DRC in Hunt for Bigger Markets
Audit and advisory firm BDO East Africa is set to start operations in the Democratic Republic of Congo (DRC) in October, joining a growing number of Kenyan firms that are setting up shop in the East Africa Community’s newest member state. Read More

Public Sector Now Paying Better than Private Firms, Says SRC
The Salaries and Remuneration Commission (SRC) says the public sector is now paying better than private companies, attributing this to high retention rate of civil servants. Read More

Inflation, Shilling Tests as CBK Holds MPC Meeting
The Central Bank of Kenya (CBK) is set to hold its monetary policy committee meeting (MPC) against the backdrop of 58-month high inflation and a weakening shilling. Read More

Qatar Fund Buys Crowne Plaza Hotel for KES 4.6 Billion
A Qatari-backed private equity fund has bought Crowne Plaza Hotel for an estimated KES 4.6 billion (approx. USD 38.7 million) from tycoon Nazir Ahmed Akbarali amid heightened deal making in Kenya’s hotel sector. Read More

Kagame Briefed on Agriculture Summit Due September
President Paul Kagame received the chair of the Alliance for a Green Revolution in Africa, Hailemariam Dessalegn, accompanied by organisation’s president Agnes Kalibata. Read More

What Rwandair’s Paris Flight will Mean to Business Community
National carrier RwandAir plans to open a new direct flight to the French capital, Paris, a move the business community says presents boundless opportunities. Read More

New Loan Comparator will Increase Consumers’ Bargaining Power – NationalBank of Rwanda
Gereranya, a platform developed by the National Bank of Rwanda to guarantee transparency and fair pricing of financial products and services as well as compliance with global market prices, was launched in March. Read More

EAC launches KES 26 Billion Kenya-Tanzania bypass
East Africa Heads of state commissioned a KES 26 billion (approx. USD 217 million) Arusha bypass that is expected to enhance trade between Kenya and Tanzania. Read More

Cement Firms on a Roll Despite Delayed Merger
Investors have maintained a bullish outlook for Tanga Cement Company and Twiga Cement despite delays in the cement manufacturers’ merger plan, available data shows. Read More

WIPO Recognised for Boosting Innovation
Business Registration and Licensing Agency has hailed the World Intellectual Property Organisation (WIPO) for its efforts to develop creative works for the development of country members. Read More

Entrepreneur from Michigan Opens Africa’s Newest Black-Owned Safari in Tanzania
Paul Allen Billings, an African American entrepreneur from Muskegon, Michigan, is the owner of his very own safari in the East African country of Tanzania called Read More

Russia's Foreign Minister Arrives in Uganda on Africa Tour
Lavrov was welcomed in Entebbe by his Ugandan counterpart, Jeje Odongo, spokeswoman Maria Zakharova said publishing a photo on Telegram of the two foreign ministers. Read More

Natural Resources Committee of Parliament Divided on Mining Bill
The Environment and Natural Resources Committee of Parliament is divided on President Yoweri Museveni’s proposals regarding the Mining and Minerals Bill, 2021. Read More

Tanzania Joins Kenya, Uganda Tax Squeeze on Gamblers’ Winnings
Tanzania has this month introduced a gaming tax on the amount or value of winnings through casinos and sports betting, tightening the noose on gamblers already squeezed by levies in neighbouring Kenya and Uganda. Read More
Northern Africa
Eni, Sonatrach Unveil Several Discoveries in Algeria Desert

Eni SpA and Algeria’s state-owned energy company Sonatrach reported further discovery on 25 July in the in the Berkine North onshore basin in the Algerian desert with plans to fast track the developments. Read More

Egyptian, Jordanian Ministers Discuss Partnerships Relevant to Food Security

One day after Jordan's announcement of joining forces with Egypt to maintain food security, the ministers of both countries met in Cairo to discuss partnerships in several sectors agreeing on eliminating all hindrances to trade exchange.  Read More

Science, Math to be Taught in English-Language at Egyptian Public Schools
Minister of Education and Technical Education Tarek Shawki told press that science and mathematics will be taught in the English language starting Grade 7 at public schools in a few years within the introduction of the new system. Read More

Egypt Tops Arab Countries in Wind Power, Solar Energy: IDSC
The Cabinet's Information and Decision Support Center said Egypt tops a list of Arab countries in the production of wind power and solar energy, with highest 3.5 GW capacity. Read More

US Special Envoy for Horn of Africa Arrives in Cairo
US Special Envoy for the Horn of Africa Mike Hammer arrived in Cairo. "The US government provides nearly USD 1.3 billion in humanitarian assistance to the Horn of Africa, helping alleviate hunger in areas hardest hit by the global food crises," the US Embassy in Cairo tweeted. Read More

Morocco’s Masen, Korean KIER To Intensify Cooperation on Research, Development
Morocco’s Agency for Sustainable Energy (Masen) and the Korean Institute of Energy Research (KIER) have signed a Memorandum of Understanding (MoU) to advance research and development cooperation. Read More

World Bank: Women Represent Less Than 10 Percent of Energy Workforce in MENA
Despite having 50 percent of female graduates in STEM fields, the energy sector in the Middle East and North Africa region remains male-dominated as women represent less than 10 percent of the energy workforce. Read More
Southern Africa
GDP Growth Fails to Push SDGs Success
Malawi is still struggling to attain the desired gross domestic product (GDP) growth rate to enable the successful implementation of the United Nations (UN) Sustainable Development Goals (SGDs) to be attained by 2030. Read More

Ministry Moves to Meet 1000MW Power Target
Minister of Energy Ibrahim Matola says the country will generate 1 000 megawatts (MW) of power by 2025 due to reforms which have opened up opportunities for independent power producers. Read More

Malawi’s Cost of Borrowing High
Malawi has been ranked as the third country out of 20 sampled in Africa with the highest lending rates at 24.5 percent, making the cost of money expensive. Read More

Banking Sector Liquidity Stable
Liquidity levels in the banking sector continue to be stable evidenced by steadiness in levels of interbank borrowing and lower levels of borrowing from the central bank as lender of last resort through the Lombard facility. Read More

South Africa
Big Boost for Electric Vehicles in South Africa
The government has launched a new project to upskill engineering students to make the shift toward new electronic vehicles amid a USD 1.8 million (R30 million) pledge by the UK. Read More

South Africa Escalates EU Dispute to WTO
The South African Department of Trade and Competition has filed a request for consultation with the EU and the World Trade Organization (WTO) regarding the decision to implement new regulations on the importation of South African oranges into the EU. Read More

Drop in Amplats Profit Suggests We May Have Hit Peak Platinum
The fact that Anglo Platinum’s share price has dropped more by more than 50 percent since its peak in March this year tells us how radically the fundamentals for platinum group metals have changed in just a few months. Read More
COMESA Urges JIT to Stay Focused
The recovery of property suspected to be proceeds of crimes by the Joint Investigations Team (JIT) and the ongoing inquiries and prosecution of individuals suspected to have been involved in money laundering and other financial crimes are backed by evidence gathered on the ground. Read More

President Hichilema Heads to North Western Province for Two Days Working Visit
President Hakainde Hichilema is tomorrow expected in North Western Province for a two day working visit. The President is expected to officiate at the ground breaking ceremony of the nickel mine in Kalumbila district and also commission a fruit processing plant in Mwinilunga district. Read More
Western Africa
Unprecedented Global Challenges Pushed Us Back to IMF – Ofori-Atta
The Minister of Finance, Mr Ken Ofori-Atta, has called on Ghanaians to rally behind the government as it seeks the support of the International Monetary Fund (IMF) to address the unprecedented challenges facing the economy. Read More

Free Senior High School Not Under Review, GHS 5.3 Billion Spent on 1.26 Million Students – Ofori-Atta
The free senior high school programme and the technical and vocational education training is not under review, the Minister of Finance, Mr Ken Ofori-Atta has said. He added that the government has so far spent GHS 5.3 billion (approx. USD 643 million) on the programme and that those who have benefited are about 1.26 million children across the country. Read More

Mid-Year Review: Workers, businesses to get tax reliefs
The government is set to announce measures aimed at easing the burden of salaried workers in the wake of soaring inflation and general cost of living. It also plans to extend some tax reliefs for businesses in a bit to stimulate economic activities while encouraging increased tax compliance. Read More

Mid Year Review: NABCo Personnel to be Paid, Integrated into YouStart
The government will use today’s mid-year budget review to address the myriad of challenges facing the Nation Builders Corps (NABCo) programme that was introduced in 2018 to provide jobs for the teaming youth. Read More
Manufacturers Seek Anticipatory Policy Measures against External Influences
Local manufacturers in the country have urged the Federal Government to develop sustainable national anticipatory policy measures against external influences, in order to mitigate the impact of global activities on the economy. Read More

Nigeria Adds 50,000bpd from TotalEnergies’ Ikike Field
OML 99 operator, TotalEnergies has announced the commencement of production from the Ikike field in Nigeria, which is expected to deliver peak production of 50,000 barrels of oil equivalent per day by the end of 2022. Read More

IMF, FRC Discuss Technical Assistance Needs for 2023-2024 Work Plan
A delegation of the International Monetary Fund (IMF) mission to Nigeria led by the Director, Second African Regional Technical Assistance Centre in West Africa, Eva Jenkner, las week, visited the Fiscal Responsibility Commission (FRC) during which the discussed areas of technical support for the Fiscal Year 2023/2024 Work Plan. Read More

Stakeholders Hail Dangote Cement at Construction Expo
Stakeholders at the Africa International Housing Show in Abuja, commended Dangote Cement Plc for complementing the Federal Government’s efforts at making housing affordable to Nigerians. Read More
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