18 October 2022
Eastern Africa
Prime Minister Abiy with Senior Government Officials Reviews Progress of Gorgora Dev’t Project
Prime Minister Abiy Ahmed and senior government leadership reviewed the progress of the Gorgora development project, according to Office of the Prime Minister. Read More

Ethiopia Celebrates National Flag Day
The 15th National Flag Day has been observed in Ethiopia in the presence of President Sahle-Work Zewde under the theme: “Our Flag A Demonstration of Our Diversity, Pillar of Our Sovereignty!” in a ceremony held at the House of Peoples’ Representatives. Read More

PM Abiy Says Gov’t Working to Exploit Natural Resource Potentials, Ensure All-round Development of Ethiopia
Prime Minister Abiy Ahmed said that the government of Ethiopia has been actively engaged in the utilization of the available natural resource potentials of the country with a view to ensuring all-rounder development. Read More

PM Abiy Visits Soybean Cultivation Developed Through Cluster Farm in Central Gonder Zone
Prime Minister Abiy Ahmed has visited a Soybean cultivation developed through cluster farming techniques in Tegede district of central Gondar Zone, Amhara Region. Read More

1.6 Million Kenyans Acquire New Passports Weeks to D-day
Approximately 1.6 Kenyans have acquired the new East African Community biometric e-passport two weeks before the deadline for phasing out the old generation documents. Read More

Treasury CS: Njuguna Ndung'u Has His Work Cut Out
Investors will be keenly following the vetting of Njuguna Ndung'u, the Cabinet Secretary nominee for Treasury whose experience at the central bank is seen as critical to helping the country recover from its economic struggles. Read More

IFC Invests New KES 55 Billion in Kenyan Firms
The International Finance Corporation has invested an additional USD 459.8 million (KES 55.6 billion) in Kenyan companies, cementing its position as the largest provider of capital to local firms. Read More

Lamu Port Off to Slow Start as 13 Ships Dock in a Year
At the time of its official commissioning in July 2021, Kenya’s second commercial port in Lamu was billed as a game-changer. Transshipment involves large vessels docking at the port and redistributing their cargo to smaller ships that serve regional ports. Read More

Hospitals Undertake Clinical Drills on Ebola Preparedness
Rwandan hospitals are carrying out clinical drills for the management and treatment of suspected Ebola cases and patients as part of the country’s preparedness and response plan in case of an outbreak. Read More

Agaciro Fund Boss Weighs in on USD 8 Million Investment
Last week, Rwanda’s sovereign wealth fund, Agaciro Development Fund, announced that it had invested over USD 8 million in the capital stock of the Eastern and Southern African Trade and Development Bank, becoming its latest institutional shareholder. Read More

Internet in Africa is 83 Percent Less Affordable Than in Oceania – Study
Rwanda is the eleventh country to be remapped through Google’s new feature Street View which doesn’t only show street addresses but also gives images of a place. Read More

Tanzania Eyes Regional Fortunes
President Samia Suluhu Hassan has cited connection to the national grid and improvement of road and port infrastructures as among measures by the government to propel the peripheral region of Kigoma to become a strategic trade and investment hub in the Great Lakes Region. Read More

MSD Set to Improve Drug, Medical Supplies Availability 
Medical Stores Department (MSD) plans to increase drug and medical supplies to 90 percent through engagement of local manufacturers and investments. Read More

PM: Use Strategic Projects to Improve Well-Being
PRIME Minister Kassim Majaliwa has called on Tanzanians to take advantage of the opportunities provided by various strategic projects being undertaken by the sixth phase government to improve their well-being. Read More

Netherlands Queen Jets in for Three-Day Work Tour
Queen Máxima of the Netherlands arrived is in the country for a three-day work tour in the East African nation. Read More

China-Aided Project Helps 100,000 People in Rural Uganda Access Satellite TV    
China officially completed the installation of the satellite television project in 900 Ugandan villages that face connectivity challenges. Read More

IMF Confident that Uganda, Rwanda Economies to Grow Faster Next Year 
Rwanda and Uganda will lead East African Community’s growth next year, but the International Monetary Fund warns of tough times ahead. Read More

Uganda Takes Coffee Consumption Drive to Ankara
Ugandan officials in Ankara have urged the business community and Ugandans in Turkey to consider investing in Uganda, arguing that the East African nation which recently celebrated 60 years of Independence is a good place for business. Read More

MTN Kampala Marathon Returns This November
The MTN Kampala Marathon is back after a two-year hiatus caused by the Covid-19 lockdown. The 17th annual edition will take place on November 20, 2022, according to new MTN CEO Sylvia Mulinge. Read More
Northern Africa
How Algeria is to Turning to its Mineral Resources to Diversify its Economy

With deposits of gold, zinc, copper and phosphates, Algeria has significant mineral resources. Many of them have been left unexploited, but now the country is counting on them to diversify its economy. Read More

Juhayna, KarmSolar Sign Contract to Build Solar Power Plant in New Valley

Juhayna Food Industries Company signed a contract with KarmSolar Solar Energy Company to establish a hybrid central plant to generate and sell energy using solar panels, diesel generators and industrial batteries at the Enmaa farm in Abu Minqar area in the New Valley. Read More

Egypt 'Ready' to Export Natural Gas to Lebanon Immediately: Minister
Minister of Petroleum and Mineral Resources, Tarek El-Molla, affirmed Egypt's commitment and readiness to immediately pump natural gas to Lebanon as soon as the procedures related to the start of exporting and receiving Egyptian gas on Lebanese territory are completed. Read More

American Lumen Technologies to Establish First Regional Centre in Egypt
Telecom Egypt signed an agreement with the American company Lumen Technologies to establish the latter’s first regional centre to provide Internet services to telecom companies in Egypt, Africa, Asia, and the Middle East. Read More

Advanced Negotiations Between Egypt, IMF Push EGX to Green Zone
Negotiations between the International Monetary Fund and the Egyptian Government witnessed great progress after announcing an agreement at the staff level on the components of the programme, which helped the stock market to end Monday’s trading session in the green zone. Read More

Morocco Among Brussels Airport’s Popular Destinations in September
Brussels airport named Morocco as the ninth most popular destination for passengers traveling via Belgium’s largest airport.  Read More

Morocco Is ‘Well Positioned’ to Become Key Supplier of EV Batteries
With a USD 1 million budget, Morocco is currently investing in developing the technology to optimize the manufacturing process of Electric Vehicle batteries, Morocco’s Energy Minister Leila Benali said. Read More

China Launches First Freight Train Linking Chengdu to Casablanca
China has launched the first ever rail-sea multimodal transport line connecting Chengdu to Europe and Africa with Casablanca being the final destination. Read More

IMF Director Highlights Importance of 2023 Annual Meeting in Marrakech
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva highlighted in Washington D.C. the importance of holding the next annual meetings of the World Bank and the IMF in Marrakech in 2023. Read More
Southern Africa
‘Malawi Can Realise Full Export Potential’
Standard Bank Malawi Chief Executive Officer Phillip Madinga has said Malawi is capable of realising its full export potential and close the yawning forex gap that has crippled the economy. Read More

Malawi Stock Exchange Chair Dares Financial Dealers
Malawi Stock Exchange Chairperson James Kamwachale Khomba has challenged financial market dealers to help raise awareness on investment opportunities on the capital market. Read More

Transaid Cycle Challenge Raises GBP 205,000
A team of 40 riders drawn from the transport and logistics industry have completed a 505km cycle challenge across southern Malawi in soaring temperatures, pedalling through the spectacular Liwonde National Park to raise more than GBP 205,000 (approx. USD 232,700) towards Transaid’s projects in sub-Saharan Africa. Read More

Nico Subsidiaries Support Women
As part of celebrating Mothers’ Day, which falls on October 15, subsidiaries of Nico Group under One Nico donated items worth MWK 2 million (approx USD 2,000) to mothers at Madziabango Health Centre’s maternity wing in Blantyre. Read More

MozParks’ Beluluane Accounts for 24 Percent of Mozambique’s Exports
The approximately 50 companies in the Beluluane Industrial Park, currently operating under the MozPaks umbrella, in Boane district, Maputo province, are responsible for 24 percent of the total national exports, and the generation of close to 7,000 jobs. Read More

State Wants Slaughter, Sale of Meat Without Inspection Punishable by Law
The attorney general of Mozambique has defended the arrest of people who slaughter and transport livestock for human consumption, without the inspection of health authorities, noting that the practice constitutes a threat to public health. Read More

African Utility Secures Cash for Floating Solar Studies
Mozambique's national electric utility, Electricidade de Moçambique, will receive a USD 2.5 million grant from an African Development Bank fund to help accelerate its clean power plans. Read More

South Africa
Fiscal Prudence Makes SA More Resilient
South Africa’s recent success in rebuilding fiscal buffers that were eroded by mismanagement means the country is better positioned to navigate a deteriorating global economic outlook, Reserve Bank Governor Lesetja Kganyago said. Read More

IMF Laments SA’s Electricity Crisis as Mining Industry Misses Out on Windfall of Global Commodity Boom
The IMF said that though its latest assessment of South Africa’s outlook was a little bit behind the curve, the problems with electricity production had severely hampered the country’s productive sectors. Read More

New Alcohol Laws for South Africa Are Coming
Information about alcohol abuse gathered during the Covid lockdown may prompt further changes to the Liquor Amendment Bill, says the Department of Trade, Industry and Competition. The Bill has been on hold since 2018. Read More

Pick n Pay Posts Strong Double-Digit HY Profit Growth
Cape Town-headquartered grocery, liquor, general merchandise and clothing retail group Pick n Pay Stores has delivered a strong half-year performance for the period ending 28 August 2022, upping headline earnings per share by double digits in an increasingly competitive market. Read More

Zambia to Attain Debt Transparency
The Civil Society Organisations Debt Alliance says the enactment of the Public Debt Management Act of 2022 is a positive move towards attaining debt transparency in Zambia. Read More

National Pension Scheme Act No 40 of 1996 approved
Cabinet has approved in principle the introduction of a Bill in Parliament to amend the National Pension Scheme Act No 40 of 1996 to provide members of the Scheme an option to access part of the contributions before retirement. Read More

Youths Needed in Smart Agro Practices
Youth inclusion in climate change adaption and mitigation programmes will enable young people to participate more in issues of sustainable smart agriculture, says Green Agriculture Youth Organization executive director Lily Singelengele. Read More

Government Has Disbursed Full Grants for Free Education to Schools
Finance and National Planning Minister Dr Situmbeko Musokotwane says the release of ZMK 442.2 million (approx. USD 27,800) to all schools, marks the final grant allocation under the free education programme and is a promise kept. Read More
Western Africa
Cote d'Ivoire
Fairtrade Joins with Mars and Ecookim for Ivory Coast Cocoa Farmer Support Venture
Fairtrade has joined with Mars and co-operative organisation Ecookim for a key initiative seeking to drive the delivery of improved wages for farmers within Ivory Coast, writes Neill Barston. Read More

Endeavour Starts Building New 200 000 oz/y Côte d’Ivoire Gold Mine
LSE- and TSX-listed Endeavour Mining launched the construction of its Lafigué project on the Fetekro property, in Côte d’Ivoire, following the completion of a robust definitive feasibility study. Read More

IFAD President Alvaro Lario Heads to Finance in Common Summit in Côte d’Ivoire
The President of the International Fund for Agricultural Development (IFAD), Alvaro Lario, will attend the Finance in Common Summit co-organized by the African Development Bank and the European Investment Bank on 19 and 20 October 2022. Read More

U.K, Germany and France Pledge to Support Ghana to Overcome Present Economic Challenges
The prospect of an expedited programme from the International Monetary Fund was given another boost this week as the United Kingdom, Germany and France pledged to support the Ghanaian economy to overcome the current crisis. Read More

KNUST School of Business Hosts O. R. Tambo Africa Research Chair
Dean of the KNUST School of Business, Prof. Nathaniel Boso has been named one of the Chairs from ten African Universities to host the O.R. Tambo Africa Research Chairs Initiative. Read More

Cedi Slumps to World’s Worst Performer Versus Dollar
Ghana’s cedi slumped to the world’s worst-performing currency to the dollar as wait-and-see investors continued to squeeze foreign capital into the West African country before its deal with the International Monetary Fund. Read More

Abena Amoah Appointed MD of Ghana Stock Exchange
The Council of the Ghana Stock Exchange has appointed Abena Amoah as the new Managing Director of the Exchange. Read More

FG Mulls Special FX Window for Manufacturers
The Federal Government has said it will begin steps towards creating a separate and special foreign exchange window for exporting manufacturers. Read More

Buhari Budgets NGN 248 Billion for Lagos-Ibadan Expressway, Roads
The Federal Government has earmarked NGN 248.5 billion (approx. USD 570 million) for the construction, maintenance and rehabilitation of ongoing road projects nationwide. Read More

CBN Eyes 7,740 Agents to Drive eNaira Adoption
The Central Bank of Nigeria is targeting no fewer than 10 agents in the 774 local government areas in Nigeria to drive the eNaira adoption. Read More

FG Reopens Dangote Cement, Parties to Continue Talks
The Dangote Cement Plant located in Obajana, Kogi State, has been reopened after being closed by the Kogi State Government over issues bordering on the legality of the company’s acquisition of the defunct Obajana Cement Company. 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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