19 August 2022
Eastern Africa
Ministry Focuses on Solving Export Bottlenecks in Ethiopian Fiscal Year
Ministry of Trade and Regional Integration said it will focus on solving bottlenecks for the export sector in order to achieve the target set for this Ethiopian fiscal year. Read More

Gov’t, Partners Minimize Drought Damage in Ethiopia: Agriculture State Minister
The coordinated actions of the government and partners have minimized the degree of damage from drought in some parts of Ethiopia, Agriculture State Minister Fikru Regassa said. Read More

New President Inherits Half a Trillion Shillings of Unpaid Bills
Kenya’s new President will inherit more than Sh500 billion owed to suppliers and contractors by ministries and State agencies in bills that have exposed many small and medium-sized businesses to closures and auctions. Read More

Watchdog Stops Lawyers from Price-Fixing in Court Fight
Lawyers have been dealt a blow after the High Court dismissed a petition seeking to quash a section of the law that stops them from fixing prices without seeking approval from the competition watchdog. Read More

How Kenya will Gain from UK Trade Pact
The United Kingdom (UK) has opened a window for Kenyan goods such as apparel and agricultural products to enjoy lower or zero tariffs despite being a lower middle-income economy. Read More

Digital Lenders Train Sights on Struggling Small Banks
American digital bank UMBA recently acquired a majority stake in Daraja, a deposit-taking microfinance bank, in the latest purchase that has made the loss-making industry a target for acquisitions. Read More

Milk Shortages, Price Hikes Bite as Drought Takes Its Toll
Pascal Dukuzumuremyi currently pays over 60 per cent more on milk than he used to about two months ago. The resident of Gasabo District is one of the many milk consumers feeling the pinch of the limited milk supply, which officials attributed to drought effects on dairy farming output. Read More

Environment - Rwanda's Top Polluters Named
Environmental crime is an illegal act which directly harms the environment. The crime which is the fourth largest criminal activity in the world is increasing by five to seven per cent every year according to reports. Read More

Air Tanzania Locks Eyes on Global Reach
Air Tanzania has expressed strong interests in expanding both its continental and international reach within the upcoming year. The State run airline is primarily focused on flying to the two biggest countries in West Africa, Ghana and Nigeria, as well as the largest airport in the United Kingdom. Read More

Government Spends TZS 2.7 Billion to Improve Bukombe Roads Network
The government via the Tanzania Rural and Urban Roads Agency has spent a total of TZS 2.7 billion (approx. USD 1 million) for the last financial year (2021/2022) to improve roads infrastructure in Bukombe District Council. Read More

Tanzania Declares Public Holiday on Census Day
Tanzania has declared Tuesday next week a public holiday to allow citizens to take part in the National Population and Housing Census Read More

ICD in Moshi-Arusha Highway to Boost Tanga port Efficiency
The establishment of the Inland Container Depot (ICD) on the Moshi-Arusha highway by the Tanzania Ports Authority will significantly contribute to the increase in cargo handled by the Tanga port, creating new jobs as well as increasing government revenues. Read More

Central Bank Records Dollar Outflows Worth USD 274 Million
At least USD 52 million was drawn out of Uganda in the second half of the 2021/22 financial years, completing a combined draw out of USD 274 million in the full year ended June.  Read More

Pioneer Crypto Exchange Moves to Spread Blockchain Technology
Binusu, a Local Cryptocurrency exchange, and pioneer of fiat to crypto exchange in Uganda has unveiled new features to provide users in Uganda with top-notch services in Fiat to Crypto Exchange. Read More

Gold Levy Lowers Uganda’s Export Earnings
Rebecca Nalumu, the director for business development at the Uganda Free Zones Authority (UFZA), has said that they registered a significant drop in its export earnings due to a levy slapped on gold exports. Read More

Parliament Approves UGX 266 Billion Loan for Uganda Heart Institute
Parliament has approved a USD 70 million loan for the construction of a state of the art facility to house the Uganda Heart institute. Read More
Northern Africa
Confident Algeria Rides Gas High
Europe's attempts to wean itself off Russian gas have given Algeria a shot in the arm. Flush with energy revenues after Russia's invasion of Ukraine sent demand for its oil and gas soaring, authorities are spending more on social benefits and taking a more assertive stance abroad, pivoting from years of declining wealth and the political upheaval of a mass protest movement. Read More

Egypt's Central Bank Keeps Interest Rates Unchanged for Second Meeting in Row

The Monetary Policy Committee decided, to keep the Central  Bank of Egypt’s interest rates unchanged for the second time in a row during the first meeting led by the acting Governor of the central bank Hassan Abdalla. Read More

Sisi Appoints Hassan Abdullah as Acting Governor of Egypt's Central Bank
President Abdel Fatah El-Sisi issued a republican decree appointing Hassan Abdullah former Vice Chairman & Managing Director of the Arab African International Bank, as acting governor of the Central Bank of Egypt. Read More

Turkey, Israel Announce Resumption of Relations, Re-Exchange of Ambassadors
Israeli Prime Minister Yair Lapid announced the resumption of relations with Turkey and the re-exchange of ambassadors between the two countries. Read More

Korean Embassy Invites First Egyptian Basketball Player Playing for a Korean Professional Team
South Korea’s Ambassador in Cairo Hong Jin-Wook invited Egyptian national basketball team player Assem Marei, who is currently playing for Changwon LG Sakers, a professional South Korean basketball team, to the embassy on 16 August. Read More

UNDP Allocates USD 1 Billion to African Startup Hubs, Including Casablanca
The Regional Bureau for Africa of the United Nations Development Program (UNDP) recently launched its Timbuktoo initiative that aims to boost African entrepreneurship and startup ecosystems for regional development. Read More

Elcora, Gold Lion to Begin Mining Manganese in Morocco
Canadian mining company Elcora announced that it has signed a Letter of Intent with mineral exploration company Gold Lion to launch the development and exploration of a manganese mine in Morocco. Read More

Morocco Hosts 19.3 Percent of All Blue, Green Hydrogen Projects in MENA
As a leading renewable energy producer, Morocco currently holds a 19.3 percent share of the total blue and green hydrogen projects in the MENA. Recent research by the Abu-Dhabi-based Clean Energy Business Council found that the Middle East and North African region is projected to be the world’s largest global supplier of green hydrogen. Read More
Southern Africa
Government Considers Resuming MDC
The government is contemplating on resuming operations of the Malawi Development Corporation (MDC) to promote its interventions in businesses and promote production. Read More

Government, IMF Resume Talks in September
Discussions between the International Monetary Fund (IMF) and the government on a fresh Extended Credit Facility programme are expected to resume next month, both parties have confirmed. Read More

Malawi, Zambia to Enhance Bilateral Ties
President Hakainde Hichilema held talks with his Malawian counterpart on the sidelines of the 42nd Ordinary Summit of the Southern African Development community Heads of State and Government in Kinshasa, Democratic Republic of Congo. Read More

Reserve Bank of Malawi Says no to Devaluation
The Reserve Bank of Malawi has expressed worry over persistent speculations and uninformed opinion about the future direction of the exchange rate. Read More

CCM and IPEME Promote MSMEs Training in Quality Certification
Managers of micro, small and medium enterprises (MSMEs) from different areas of economic activity in Mozambique received training in matters of quality certification. Read More

South Africa
South Africans Called on to Apply for Funding to Build South Africa’s Hydrogen Economy
A call for funding applications to be submitted for the development of the hydrogen economy is made in an advertisement placed today by South Africa’s Technology Innovation Agency, an entity of the Department of Science and Innovation. Read More

Happiness Index Shows South Africans are now Less Happy Than Before and confidence is at an All-Time Low
The levels of happiness in South Africa have plummeted as citizens are confronted with several newsworthy political, economic, and social activities that could dampen the mood above and beyond the Covid-19 pandemic. Read More

Godongwana Defends Employment Equity as Necessary for Transformation
Finance Minister Enoch Godongwana has defended employment equity and affirmative action as necessary tools for transformation on the back of criticism that these policies were holding back South Africa’s economic growth. Read More

New Opportunities for Advertisers as App Economy Grows in Africa
South Africa's app economy is seeing impressive growth, largely fuelled by the massive penetration of mobile smartphones in the country. Read More
Zambezi River Source, Critical National Heritage – Sikumba
Minister of Tourism, Arts and Culture, Rodney Sikumba says the Zambezi source is one of the critical national heritage sites that needs to be protected. Read More

CCZ Commends New Dawn Government Over the Teachers Recruitment
The Council of Churches in Zambia (CCZ) has commended the New Dawn Government for the landmark achievements it has scored in the education sector in just one year of being in office. Read More

Government to do More for Girl Child – Vice President
Vice President, Mutale Nalumango has conceded that Government needs to do more to improve on its responsiveness on matters pertaining to the girl child. Read More

Vice President Dates Copperbelt to Meet Marketeers at Kapalala Market
Vice President, Mutale Nalumango will tomorrow be in Ndola where she is expected to meet marketeers at Kapalala market whose goads and property were gutted in an inferno. Read More
Western Africa
EU Ends 4 Years of Employment and Social Protection Programme
The European Union (EU) has so far invested EUR 26 million (approx. USD 26.2 million) in the Ghana Employment and Social Protection Programme for the past four years. Read More

eCedi will Not Be Operated on Blockchain Technology – BoG
The Bank of Ghana has dispelled rumours that the Central Bank Digital Currency or eCedi will be operated on blockchain technology. Read More

Bolt Food Rolls Out Mobile Money Payment Option
Bolt Food announced that its customers in Ghana can now pay for all their food orders via Mobile Money after rolling out a Mobile Money payment option on the App. Read More

Hollard and Melcom Celebrate 5,000 Policies in 2 Years of Partnership
Since partnering to make insurance more accessible to Ghanaians through a Shop and Insure initiative, insurance group Hollard Ghana, with subsidiaries Hollard Insurance and Hollard Life, is marking two years of partnership with retail giant, Melcom. Read More
CBN Commences eNaira Phase 2 as Transactions Hit NGN 4 Billion
eNaira has witnessed about 200,000 transactions worth NGN 4 billion (approx. USD ) since the initiative was launched, governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has said. Read More

CBN Halts Covid-Linked Relief on Loans, Takes Interest Rate Back to 9 Percent
Interest will no longer be five per cent on Anchor Borrowers, Commercial Agricultural Credits Scheme, Micro-Small and Medium-scale Enterprise, or Agri-Business/Small and Medium Enterprise Investment Scheme. Read More

CBN Announces USSD Code for eNaira Transactions, As Subscription Hits 840,000
The Central Bank of Nigeria (CBN) has unveiled a new short code for subscribers of its digital currency, eNaira to make financial transactions on the platform. The aim is to enhance its acceptability with a focus on deepening payment system. Read More

World Bank Approves USD 5.9 Million for Acresal Project Take-Off in Bauchi
The World Bank has approved the sum of USD 5.9 million for the take-off of the Agro-Climatic Resilience in Semi-Arid Landscapes Project in Bauchi State. Read More
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