25 May 2022
Eastern Africa
Feasibility Study, Design of 23 Irrigation Projects Worth ETB 500 Million Underway
The government of Ethiopia has allotted ETB 500 million for the feasibility study and design of 23 irrigation projects, according to the Ministry of Irrigation and Lowlands. Read More

ADB Working to Scale up Resources for Agriculture, Water Sector Development in Ethiopia
The African Development Bank is working on how to scale up the resources available to Ethiopia especially to the Agriculture and Water sector development, According to Vice president for Agriculture, Human and Social Development of ADB, Beth Dunford. Read More

Indian Investment Delegation Conducting Visit to Various Industrial Parks in Ethiopia
Indian investment and business delegation is conducting a visit to various industrial parks in Ethiopia in pursuit of exploring collaborations and partnerships. Read More

Ethiopian to Increase Washington, Buenos Aires, Sao Paulo Flights
Ethiopian Airlines is set to bolster its South American schedule by adding more flights to São Paulo and Buenos Aires, according to a report. Read More

Yatani Suffers Blow in Higher Beer Taxes Plan
Lawmakers have rejected the proposal to increase taxation on alcohol and bottled water, dealing a blow to the Treasury’s plan to generate an additional KES 50.4 billion (approx. USD 404 million) revenue in the year starting July. Read More

Helb to Borrow KES 22 Billion for Student Laptops
The Higher Education Loans Board plans to borrow KES 22 billion (approx. USD 176 million) through a bond to fund laptop purchases for university students. Read More

Ministry to Cap Visitors in Parks, Game Reserves
The Ministry of Tourism and Wildlife plans to cap the daily number of visitors allowed in some national parks and game reserves to reduce high season overcrowding and push all-year travel, in a move that will see rates raised more than six times. Read More

Appointment of Tax Tribunal Staff to be Staggered
The Judicial Service Commission will appoint members to the Tax Appeals Tribunal on a staggered basis in legal changes meant to avoid the lack of quorum that has in the past derailed hearing of tax disputes. Read More

Rwanda-Mozambique Business Forum Kicks Off
Over 50 business operators from Rwanda’s different sectors arrived in the Mozambican capital Maputo for the Rwanda-Mozambique business Forum. Read More

Fast-Rising Fintech Bankingly Closes Successful Investment Round for USD 11 Million
Bankingly accelerates its growth with the culmination of a successful investment round for a total of USD 11 million. The round was led by Dalus Capital, and accompanied by IDB Lab, IDC Ventures, Athos Group, Kube Ventures, Grupo Finacess,iThink VC, Sonen Capital and Oikocredit. Read More

Govt Welcomes Islamic Financing Options for Businesses’
The Zanzibar Trade and Industrial Development Minister Omar Said Shaaban has said the government recognises the Islamic financing system as important tool for the economic and social development in the country. Read More

TBS Enlightens Njombe, Iringa Citizens on Goods Standards
More than 15,000 people from two districts of Songwe in Njombe and Mufindi in Iringa have been educated on identifying and buying goods that are certified by the Tanzania Bureau of Standards. Read More

Why CRDB Will Do Well in DRC
CRDB Bank has assured its shareholders that its entry into the Democratic Republic of Congo market will yield good returns, banking the bullish picture on its history and the good reputation of its partners. Read More

Collective Investment Scheme Assets Cross UGX 1 Trillion
There is good news from the Capital Markets Authority of a big milestone amounting to slightly over UGX 1.1 trillion (approx. USD 280 million) attained as Assets Under Management by licensed Collective Investment Scheme managers, representing savings mobilized from Ugandans. Read More
Northern Africa
Public First: Google Drives Estimated EGP 11.2 Billion to Egyptian Economy in 2021
Google announced the launch of the Google Impact Report, a report conducted by Public First research agency, that looks at how Google products (Search, Play, Maps,YouTube, and Google Ads) help people, local businesses, content creators, and developers in Egypt, Saudi Arabia, and the UAE. Read More

EGX Chairperson Holds Meetings with Market Parties to Promote Institutional Investment in Stocks
Mohamed Farid, Chairperson of the Egyptian Exchange, held two meetings with all parties relevant to the institutional investment file in the stock market to formulate a common framework and an action plan to increase their investments. Read More

Al-Mashat Witnesses Series of Bilateral Meetings on Strengthening Cooperation with Government Representatives, International Institutions, Private Sector
Egypt’s Minister of International Cooperation Rania A. Al-Mashat held various bilateral meetings with government representatives, international institutions, and the private sector, during her participation in the 2022 World Economic Forum Annual Meeting in Davos, Switzerland. Read More

Parliament Approves 2 Agreements for Alexandria Metro, Rehabilitation of Hydroelectric Stations
Egypt’s Minister of International Cooperation, Rania Al-Mashat, announced the approval of the House of Representatives, in its session, of two agreements, the first with the European Bank for Reconstruction and Development regarding the “Alexandria Metro”, and the second with the German government regarding “the rehabilitation of hydropower stations, Phase II.” Read More

Morocco’s Wadia Ait Hamza to Head Forum of Young Global Leaders
The Moroccan Wadia Ait Hamza was appointed last week to be the next Head of the Forum of Young Global Leaders, replacing Mariah Levin. Read More

Smurfit Kappa to Open First African Plant in Morocco
Ireland-based Smurfit Kappa, one of Europe’s biggest packaging companies, has announced today its plans to open its first African plant in Rabat, the Moroccan capital. Read More

Morocco Secures USD 350 Million Loan from World Bank for Blue Economy
The World Bank has approved a USD 350 million loan for Morocco, with the loan aimed at supporting the country in financing its Blue Economy program and contributing to its economic growth. Read More

CDG Development, AFD to Cooperate on Sustainable Development Model
Morocco’s CDG Development and the French Development Agency are joining forces to contribute to the implementation of the New Development Model. Read More
Southern Africa
Malawi Reviews Inflation Formula
The National Statistical Office has revised the country’s Consumer Price Index basket used in computing inflation as food will now consume over half of household consumption patterns. Read More

Illovo Half-Year Profits Hit MWK 9.2 Billion
Illovo Sugar (Malawi) has posted a MWK 9.2 billion (approx. USD 10.5 million) profit in the half-year period ended February 28, up from the MWK 6.1 billion (approx. USD 7 million) reported for the same period last year, published financial statements from the firm show. Read More

Mozambique National IHL Committee Officially Established
The Mozambique government established the Interministerial Commission on Human Rights and International Humanitarian Law through a presidential decree.  Read More

Grindrod’s Matola Terminal Receives Second Coal Train
Grindrod’s Matola terminal at the Port of Maputo received a second train from Botswana and successfully discharged 50 wagons using the terminal’s tipplers. Read More

South Africa
Mauritius: Open University of Mauritius and the Nelson Mandela University of South Africa Collaborate on Fishforce Project
A High-Level stakeholders' meeting for the establishment of a Fisheries Law Enforcement Academy, was held, at Le Meridien in Pointe aux Piments. The initiative is a joint collaboration of the Open University of Mauritius and the Nelson Mandela University of South Africa. Read More

South African Tech Entrepreneurs Are Expanding into Africa
Africa Day was established to celebrate and acknowledge the progress that Africa has made in the last 58 years. It’s an important milestone on the South Africa calendar, and with good reason. Read More

Environmentalists Meet in South Africa to Stem Plastic Waste
Environmental activists are meeting in South Africa this week to press governments and businesses to reduce the production of plastic because it is harming the continent’s environment. Read More

Zambia Airways Helps in Boosting Local Tourism
Zambia Tourism Agency says the establishment of the national airline, Zambia Airways has contributed significantly to domestic tourism. Read More

The Government Commences Consultations for 2023 National Budget and the 2023-2025 MTEF
The government through the Ministry of Finance and National Planning, has commenced preparations for the 2023 National Budget and the 2023 to 2025 Medium Term Expenditure Framework. Read More

ZPPA Clears ZESCO over Wooden Pole Importation Deal
The Zambia Public Procurement Authority (ZPPA) has cleared ZESCO over its decision to procure wooden poles from Zimbabwe and South African companies. Read More
Western Africa
Cote D'Ivoire
Africa’s Desertification Summit Ends with Promises to Restore Billion
The COP15 summit in Abidjan, Cote d'Ivoire, which was focused on desertification and its impacts, closed with commitments by 196 countries to restore one billion hectares of degraded land between now and 2030. Read More

Ghana's Ashanti Air Nears Certification - Report
Ashanti Airlines is nearing the completion of its Air Operators Certificate to establish the first home-based Ghanaian carrier in more than a decade, reports Aviation Ghana. Read More

Travelex Back in Ghana to Boost Operations After Covid Pandemic Setback
Foreign exchange Company, Travelex has opened talks with clients in Ghana as it bids to boost its operations in the country post the Coronavirus pandemic. Read More

CSO’s Call on AfDB to Implement Policies to Address Their Concerns
A coalition of African civil society organisations have bemoaned the lack of engagement between the African Development Bank and Civil Society. Read More

Ghana and Mozambique Agree to Cooperate
Ghana and Mozambique signed a joint permanent cooperation agreement to boost cooperation between the two countries. Read More

UBA Will Sustain Support to African Businesses, says DMD
United Bank for Africa will continue to support and invest in African businesses for growth and development of the continent, its Deputy Managing Director, Oliver Alawuba, has said. Read More

Datamellon, AWS Partner on IoT
A tech firm, Datamellon, has entered into partnership with AWS Nigeria User Group to create awareness on how to showcase amazing products using Internet of Things. Read More

MTN, Google, Microsoft Empower MSMEs with Digital Skills
MTN Foundation, Google and Microsoft have partnered to empower 3000 young entrepreneurs of between 18 and 35 who own or manage a Micro, Small, and Medium Enterprise for at least two years. Read More

BATN Okays NGN 16.5 Million Grant for Corps Farmers
Four National Youth Service Corps members have benefited from NGN 16.5 million (approx. USD 37,000) grant and technical support for emerging winners at the virtual Farmers for the Future Grant competition organised by the British-American Tobacco Nigeria Foundation in Lagos. Read More
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