9 December 2022
Eastern Africa
EEP Envisages Cooperation, Mutual Growth by Exporting Electric Power to Neighboring Countries
Ethiopia’s power export to neighboring countries envisages strengthening mutual cooperation and growing together, Ethiopian Electric Power Chief Executive Officer. Read More

EDR Catalyzing Regional Integration, Facilitates Ethiopia’s Import & Export Logistics
The Ethio-Djibouti Railway (EDR) is catalyzing regional economic integration, covering 15 percent of Ethiopia’s import and export logistic facilitation over the last three months, Ethio-Djibouti Railway CEO Abdi Zenebe said. Read More

Ethiopian Airlines, Boeing Partner to Deliver Humanitarian Aid
Boeing and Ethiopian Airlines have again partnered to bring humanitarian aid to those in need – this time using the airline’s three recently delivered 737-8 airplanes to transport more than 12,000 pounds of supplies to Addis Ababa, Ethiopia. Read More

Bunna Bank’s Annual Profit Exceeds A Billion Birr Mark
Bunna Bank, one of the mid-sized private commercial banks in Ethiopia, secured ETB 1.19 billion (approx. USD 22.4 million) in annual gross profit from its operations last financial year. Read More

KRA Starts Crackdown on Hidden Employee Perks
The Kenya Revenue Authority (KRA) has started a crackdown on firms under-declaring their payrolls in what will see thousands of employees pay taxes on items like overtime, leave pay and per diems. Read More

World Bank Backs Bid to Raise NSSF Contributions
The World Bank has backed Kenya’s efforts to increase pension contributions by workers to the National Social Security Fund (NSSF) from the current KES 200 per month to six percent of monthly pay. Read More

Two Civilians Want KES 50 Billion Hustler Fund Declared Illegal
The government’s decision to create the KES 50 billion (approx. USD 407 million) Hustler Fund has been challenged in court by two civilians who claim that the kitty is illegal and an avenue to loot public coffers. Read More

Kenya and Dutch Go Paperless in Verifying Horticultural Exports
Kenya and the Netherlands have implemented electronic certification of horticulture exports to cut on high levels of interceptions, which have seen the country’s produce delay to hit the shelves, making Kenya the first country in Africa to achieve this fete. Read More

Inaugural Shopping Festival Opens in Kigali
Over 400 local and foreign exhibitors are expected to participate in the maiden Kigali Shopping Festival, which opened at the Expo Ground in Gikondo. Read More

Rwanda, DR Congo Trade Slightly Declined but Growth Remains – Official
Over the last five years, the industrial sector has grown from 17.3 percent to 20.3 percent as a share of GDP and it contributes to 20.4 percent of all formal jobs, that's one-fifth of all jobs. It's incredibly good progress. Read More

Inaugural Shopping Festival Opens in Kigali
Over 400 local and foreign exhibitors are expected to participate in the maiden Kigali Shopping Festival, which opened at the Expo Ground in Gikondo. Read More

NEC Submits EALA Candidates' List to Parliament
The National Electoral Commission has submitted the final list of 24 candidates who are vying for representing Rwanda in the East African Legislative Assembly. Read More

Tanzania’s Financial Sector Can Perform Better
Tanzania is likely to attain the needed progress in the financial sector if it is able to ensure that it implements the six pillars identified in the Absa Africa Financial Market Index 2022. Read More

TPSF Throws Weight Behind Business Promotion
The Tanzania Private Sector Foundation (TPSF) has launched Zonal Buyer-Seller Forums that aim to promote business and investment at regional and district levels. Read More

JICA to Begin Programme on Promoting Innovation      
The Japan International Cooperation Agency (JICA) will next year embark on promoting learning and innovation where over 300 local innovators will meet with their Japanese counterparts to intensify learning and knowledge exchange. Read More

Mortgage Loans Grow by 7 Percent
The value of mortgage loans has grown by 7.01 percent year-on-year pushed up by competition, creativity and low-interest rates. Read More

Inflation Projected to Drop to 8 Percent Next Year
Bank of Uganda has said inflation is likely to drop to between 6 and 8 percent next year, before stabilising  around the 5 percent target by end of 2023. Read More

Govt used UGX 1.4 Trillion to Pay Interest on External Debt in 2021 - World Bank
Uganda spent USD 380 million on interest payment for its external debt during 2021, according to World Bank. Read More

dfcu Bank to Upgrade Digital Payment Platforms
dfcu Bank has partnered with CR2, a global-leading banking software company to upgrade its ATM, Card and Payments Management Platform. Read More

Government Confirms End of Umeme Contract
Electricity distributor, Umeme’s contract will run its full course but will not be renewed by government in 2025. Read More
Northern Africa
Utility Vehicles - Traffic Authorisation: The Measure Cancelled

Just one week after its introduction, the Algerian Ministry of Transport decided to suspend provisionally the measure requiring owners of goods vehicles to have a traffic authorisation. Read More

E-Payment: Signature of an Agreement Between Algérie Poste and SEAAL
Algérie Poste has signed a master-agreement with the Société des eaux et de l’assainissement d’Alger (SEAAL), outside the celebration of the African Day of Telecommunications, Information and Communication Technologies, at Abdellatif Rahal International Conference Centre in Algiers, the public operator said in a statement published on his Facebook page. Read More

Overfishing in the Mediterranean and Black Sea affects 73 Percent of Commercial Species
Overfishing in the Mediterranean and the Black Sea affects 73 percent of the species traded, according to a report by the General Fisheries Commission for the Mediterranean of the Food and Agriculture Organisation of the United Nations. Read More

Government Meeting: Review of Three Legislative and Regulatory Instruments in Finance and Trade
Prime Minister, Aïmene Benabderrahmane, presided over a meeting of the Government held at the Palais du Gouvernement, according to a communiqué of the first ministry published on his official website. Read More

EGX Expects to Start Trading on Carbon Certificates in 1H 2023

Ramy El-Dokany, Chairperson of the Egyptian Exchange (EGX), expected that trading in carbon certificates would start by the middle of next year, pointing out that the EGX is currently negotiating with a group of investors inside and outside Egypt. Read More

Orascom Investment Achieves Profit of EGP 265.4 Million in Nine Months
Orascom Investment Holding achieved a profit of EGP 265.4m during the first nine months of this year, compared to a net loss of EGP 46m in the same period of 2021. Read More

Spain, Finland’s Ambassadors Minya to Push Gender-Inclusive Development in Upper Egypt
As part of the awareness activities of the 16 Days of Activism against gender-based violence (GBV), Spain’s Ambassador in Cairo Alvaro Iranzo Gutiérrez and Finland’s Ambassador in Cairo Pekka Kosonen visited projects in Minya to highlight the impacts of gender-inclusive development initiatives in Upper Egypt. Read More

Vodafone Intelligent Solutions Signs Agreement with ITIDA
Vodafone Intelligent Solutions, a subsidiary of Vodafone International Group, signed a five-year cooperation agreement with the Information Technology Industry Development Authority (ITIDA). Read More

Morocco’s Input Converting EuroMed, Gulf Challenges to Opportunities
The first edition of the Parliamentary Economic Forum for the Euro-Mediterranean and Gulf region is being held from in Marrakech. Read More

UN Groundwater Summit: Morocco Presents Water Management Model
Morocco’s Minister of Water and Logistics Nizar Baraka presented Morocco’s model of management of water resources before the UN-Water Summit on Groundwater held in Paris. Read More

Nexans Group Opens Photovoltaic Power Plant in Morocco’s Mohammedia
Nexans Group inaugurated its photovoltaic power plant in Mohammedia, near Casablanca. Read More
Southern Africa
Debt Service Costs Rising
Rising external debt is costing Ministry of Finance and Economic Affairs more in servicing the loan, with World Bank figures showing an 83 percent increase in the past five years. Read More

Survival Gets Tough for Urban Dwellers, Says WFP
The World Food Programme (WFP) says households in the country’s urban areas now require MWK 94 644 (approx. USD 100) per month to cover lifesaving needs amid cost of living crisis at a time the monthly minimum wage is at MWK 50 000 (approx. USD 50). Read More

Fish Farmers Urged to Use Technology
The fisheries Department has asked fish cooperatives in lakeshore districts to use fish processing technologies to reduce post-harvest losses. Read More

EU Programme Uplifts Local Manufacturers
Fortune Gardens Investments which deals in processing groundnuts to finished products for exports and local consumption has the chance to obtain a soft loan of a minimum of MWK 100 million (approx. USD 98,000) from Ecobank or First Capital Bank after emerging winner of Boosting Women in Agriculture pitch night. Read More

Businesspeople Worried About Excessive Fees and Taxes Being Levied in the Country
Business operators affiliated to the Chamber of Commerce of Mozambique demanded in Maputo that the government lower the rates and taxes in force in the country, adding that it even considers some of them illegal. Read More

South Africa
The Big Risks Being Overlooked in South Africa’s New Energy ‘Gold Rush’
Multinational insurance company Allianz is concerned over the possible risks associated with the rapid push towards green hydrogen energy – especially in South Africa. Read More

Massive Visa Backlog in South Africa
The Department of Home Affairs is sitting with a massive visa backlog of over 56,000 applications, which it says will only be cleared by the middle of 2024. Read More

US Raises Red Flags Over South African Trade Agreements
South Africa could lose part of its preferential access to the US if its trade policies disadvantage American exporters relative to their developed-nation counterparts, according to people familiar with the matter. Read More

JSE Appoints New CFO
The JSE has appointed a new CFO who will take over in January after the acting CFO stepped into the role in May 2022. Read More

Zambia to Benefit from USD 55 Million Fish Fund
OUT of the 77 African, Caribbean and Pacific countries, Zambia is among the 12 that stand to benefit from the USD 55 million five-year FISH4ACP project aimed at unlocking the potential of sustainable fisheries and aquaculture industries. Read More

Ukraine War Pushes Fertiliser 150 Percent
Alliance for Commodity Trade in Eastern and Southern Africa (ACTESA) says the Russia-Ukraine war has pushed the cost of fertiliser up by 150 percent, with most African countries facing challenges in accessing the commodity. Read More

Police Public Complaints Commission to Ensure Police Officers Operate within the Confines of the Law
The Police Public Complaints Commission says it remains committed to ensure police officers operate within the confines of the law when discharging their duties. Read More
Western Africa
Cote d'Ivoire
The World Bank Reinforces its Support to Sustainable Investments and Human Capital
This budget support operation is aligned with the priorities identified by the World Bank Group in Côte d'Ivoire, including improving agricultural productivity and rural incomes. Read More

VEEP Holds Bilateral Talks with Her Ivorian Counterpart
Vice President Mutale Nalumango has held bilateral talks with the Vice President of Cote D’Ivoire Teimoko Meyliet Kone. Read More

US Ambassador Pays Courtesy Call on BoG Governor 
The United States (US) Ambassador to Ghana, Virginia Palmer, has paid a courtesy call on the Governor of the Bank of Ghana, Dr Ernest Addison, and the management of the central bank. Read More

New Levy on Extractive Firms Risk to Stability Clauses: Deloitte Ghana   
Accounting and advisory firm, Deloitte Ghana, has observed that plans to convert the National Fiscal Stabilisation Levy into a growth and sustainability levy and extend it to the extractive sector could conflict with the fiscal regime governing the operations of companies there. Read More

Debt Exchange: Govt to Establish GHS 15 billion Fund for Financial Institutions that Participate
The Financial Stability Council has announced that it has begun a process to establish a fund that will provide liquidity to financial institutions that participate fully in Ghana's Domestic Debt Exchange programme. Read More

Ghana Revenue Authority confident ICUMS will boost trade facilitation in Africa
The Ghana Revenue Authority has expressed confidence in the Integrated Customs Management System (ICUMS) as a tool to boost trade facilitation in Africa, following its implementation in Ghana. Read More

President Buhari Signs CRMI Bill
President Muhammadu Buhari has signed Into law the Chartered Risk Management Institute of Nigeria Bill, 2022 recently passed by the National Assembly. Read More

MRS provided USD 300 Million to NNPC for Chevron Assets – Report 
One of Nigeria’s wealthiest families funded the Nigerian National Petroleum Company’s purchase of oil blocks from Chevron Corp., offering an insight into how the firm could back its ambitious expansion plans. Read More

FG Reads Riot Act to Sugar Manufacturers
The Executive Secretary, National Sugar Development Council, Mr. Zacch Adedeji, said going forward, the annual raw sugar quota allocation to operators would be based on their performances in the outgoing year. Read More

Airtel Emerges Sole Bidder for 5G Licence, to Pay USD 273.6 Million
The Nigerian Communications Commission has cancelled the planned 3.5 GHz spectrum auction following the emergence of Airtel Networks as the sole bidder for the process. 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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