19 October 2022
Eastern Africa
Green Legacy Initiative Solidifies Ethiopian, South Sudanese Relations
Minister of Culture, Youth, and Sports of South Sudan, Albino Bol Dhieu appreciated the Ethiopian Green Legacy Initiative in solidifying Ethiopian and South Sudanese relations by creating linkages with the youth of the two countries. Read More

Ethiopia Participates in India-Africa Defense Dialogue
A delegation led by the Minister of Defense, Abreham Belay is participating in the India-Africa Defense Dialogue, which is being held in Gandhinagar, Gujarat. Read More

CBK Bags KES 68 Billion Forex Gain from Weaker Shilling
The significant weakening of the shilling versus the dollar handed the Central Bank of Kenya (CBK) an unrealised exchange gain of KES 68 billion (approx. USD 564 million) on its forex holdings in the year ended June 2022, helping double its surplus for the period to KES 76.9 billion (approx. USD 638 million). Read More

Warehouse Receipt System Depots Open Doors to Maize as Prices Fall
The Warehouse Receipting System has opened its stores for farmers to deposit their grain in exchange for receipts which they can cash to meet their immediate financial needs. Read More

Safaricom Cements Role in Kenya Economy with 1.1 Million Jobs
Safaricom’s operations generated more than 1.1 million jobs directly and indirectly at last year when it deepened its contribution to Kenya’s economy, a study by consulting firm KPMG shows. Read More

One Acre Fund Secures KES 118 Million from IFC for Climate Insurance
Smallholder farmer support NGO One Acre Fund has obtained KES 118.6 million (approx. USD 988,659) from the International Finance Corporation (IFC) for climate insurance. Read More

RwandAir Maiden Direct Flight to Heathrow Set for November
National carrier RwandAir says it will, effective 6 November, launch direct flights to London Heathrow, as the airline looks to cater for its growing demand. Read More

Regional Peacekeeping Course Begins at Police Training School
A female Assessment Mission Service instructors course started at the Police Training School in Gishari, Rwamagana District. Read More

New Digital System to Monitor Performance of Judicial Officers
As part of efforts to further enhance delivery of justice, court officials will soon start to use a digital system dubbed, ‘Judicial Management Performance System’, designed to help monitor and improve performance. Read More

RWF 10 Billion Needed to Revamp Stalled Wheat Factory
The Ministry of Trade and Industry has announced that it has deployed technicians to work with an investor who took over Nyamagabe wheat processing factory through auction, to work on machinery and be able to resume operations. Read More

China’s Shandong Eyes Shanta Gold Stake
Shandong Gold Group, Shanghai Stock Exchange listed firm, is eyeing to enter the country’s mining sector through Shanta Gold. 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

Maxima of the Netherlands Goes Make-Up Free as She Touches Down in Tanzania Ahead of Royal Tour
Queen Maxima of the Netherlands ditched her usual high glamour look in favour of comfort as she stepped off the plane in Tanzania last night. Read More

TADB Pumps TZS 13.5 Billion to Support Poultry Farmers
Tanzania Agricultural Development Bank (TADB) has disbursed TZS 13.5 billion (approx. USD 112 million) to support poultry farmers in the industry that will boost its contributions to economic growth. Read More

Housing Finance Bank: You Can Now Buy Treasury Bills and Bonds from Anywhere, at Any Time    
Housing Finance Bank, a fully-fledged commercial bank in Uganda will deploy the Oracle Banking suite, leveraging next-generation banking technology to enhance digital core capabilities and deliver convenient service to customers. Read More

Govt Courting West for Mining, Energy Deals     
Uganda is turning to the West, specifically the Americans, to invest in its energy and mining sectors, a move that seeks to tap into the growing global demand of green energy minerals to address clean energy needs. Read More

Digital: Housing Finance Bank Partners with Oracle and JMR
Housing Finance Bank, a fully-fledged commercial bank in Uganda will deploy the Oracle Banking suite, leveraging next-generation banking technology to enhance digital core capabilities and deliver convenient service to customers. Read More

Fruits, Vegetable Exporters Record Massive Drop in Interceptions 
Uganda has experienced zero interceptions for its horticulture exports to the European Union in over a year, according to Mr Fred Zake, the Hortifresh executive director. Read More
Northern Africa
Vietnam, Algeria Enjoy Sound Six-Decade Ties: Diplomat

Vietnam and Algeria have enjoyed sound traditional friendship over the past six decades, Algerian Ambassador to Vietnam Boubazine Abdelhamid said in an interview on the 60th anniversary of the Vietnam-Algeria diplomatic relations. Read More

Algeria Relaxes Rules for Foreign Investors
Published at the end of July, the updated legislation aims at boosting investment flows in a bid to enhance the country’s economic performance and, more importantly, break with its hydrocarbon’s dependence. Read More

We Support Private Companies to Enhance Air Transport: Aviation Minister

Egyptian Minister of Civil Aviation Mohamed Abbas Helmy held an extensive meeting with heads and representatives of private Egyptian airlines, to discuss their work mechanisms and development during the next phase, as well as their role in boosting domestic and foreign tourism. Read More

Egypt to Launch Tourism Programmes for COP27 Participants
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

Matouk Bassiouny Appointed as Legal Advisor for 4 IPOs on EGX
Matouk Bassiouny is currently managing four IPOs on the Egyptian Exchange (EGX) in the sectors of education and health, according to Omar Bassiouny, Co-founder of the office, and head of the acquisitions and mergers sector at the office. Read More

Egypt, South Korea Experiencing Their Best Government-to-Government Cooperation of all Time: Ambassador
Egypt and South Korea are now at the stage of the best government-to-government cooperation of all time since the establishment of the Comprehensive Cooperative Partnership in 2016, when President Abdel Fattah Al-Sisi paid an official visit to Korea, according to South Korea Ambassador to Cairo Hong-Jin-Wook. Read More

King Mohammed VI Chairs Council of Ministers on 2023 Finance Bill
King Mohammed VI chaired a council of ministers, aimed at examining the axes of Morocco's 2023 Finance Bill. Read More

World Travel Awards: Marrakech Hosts Three of Africa’s Best Hotels
Global tourism leaders celebrated this weekend four Moroccan hospitality establishments, during the World Travel Awards Africa & Indian-Ocean Gala Ceremony 2022 held in Nairobi, Kenya. Read More

Association Calls for Supporting Cannabis Processing, Production in Morocco
Morocco’s Consultative Association for the Use of Cannabis called for measures to back investments in the processing and production of cannabis products in the country. Read More

Morocco is US' Third Largest Exporter of Table Olive in 2022
Morocco exported 19,000 tonnes of table olives to the United States in the first half of 2022.  A recent report from the Office of Economic and Commercial Affairs of the Greek Embassy in New York, cited by the Olive Oil Times, found that Morocco is the third-largest exporter of table olives to the States, after Spain and Greece. 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

Council Plans to Issue Bonds, RBM Impressed
The Reserve Bank of Malawi (RBM) says it is impressed with Nkhotakota District Council’s plans to issue municipal bonds to finance its planned reforms activities. Read More

MWK 1.2 Billion Fertiliser Plant to Take Shape
Rural Development Investment Holdings has announced the commencement of a MWK 1.2 billion (approx. USD 1.2 million) organic fertiliser processing plant in Blantyre. Read More

Mozambique: Construction Materials Industry Set for a Revolution
The Mozambican government wants to revolutionise the national construction materials industry through the creation of national companies capable of using advanced technologies in the production process, as a way of overcoming the constraints which affect the market and customers in the country. Read More

South Africa
Push for More Load Shedding Exemptions
The City of Joburg says it is trying to get its water utility, Johannesburg Water, exemption status for load shedding after persistent blackouts caused infrastructure to fail, exacerbating the city’s water crisis. Read More

Sasol and ArcelorMittal SA Announce Green Hydrogen Partnership
Two of SA’s biggest polluters announced a new partnership that promises to create new “green” jobs and support both companies’ ambition to achieve net-zero carbon emissions by 2050. Read More

Joburg to Spend ZAR 340 Million Over Three Years for Water Supply in the Metro
Johannesburg is set to spend ZAR 340 million (approx. USD 18.7 million) over the next three years to jack up its infrastructure to ensure continuous supply of water to the metro’s 6-million residents. Read More

Zambia Invited to the Africa Investments Forum and Awards to be Held in Paris, France.
Leaders League, a French based international company designed to bring the world’s markets together has invited Zambia to participate at the Africa Investments Forum and Awards to be held in Paris, France. Read More

Government to Continue Providing Decent Housing for Police Officers
Lusaka Province Minister, Sheal Mulyata says police officers must be motivated by way of providing descent accommodation for them as they play a significant role in the country’s development. Read More

Kabuswe Announces Reopening of Cadastre Dept
Minister of Mines and Minerals Development Paul Kabuswe says government has given a 90-day amnesty to illegal miners to have their operations formalised or legalised. Read More

FRA Authorised to Buy More Maize
Food Reserve Agency (FRA) has so far bought 287,000 metric tonnes of maize worth over ZMK 1 billion (approx. USD 63,000), out of which ZMK 539 million (approx. USD 34,000) has been paid to farmers, leaving a balance of ZMK 490 million (approx. USD 30,000). Read More
Western Africa
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

86 Percent Bank Executives Confirm Prioritising Environmental, Social and Governance in Operations – 2022 PwC Ghana Banking Survey
The 2022 PwC Ghana Banking Survey Report has revealed that 86 percent of bank executives confirmed discussing Environmental, Social and Governance matters more than once a year. Read More

Clear Existing Obstacles for Private Sector to Inject Funds for Clean Energy Transition
The shift from fossil fuels to clean renewable energy as the corner stone to the global energy transition has been at the tip of governments’ policy discussions across Africa and the world, with developed countries investing massively in renewable energy as part of efforts by their respective government’s energy security and climate action goals. Read More

5th Edition MTN Pulse ‘Just be Series’ to Promote Entrepreneurship Among Young People
The fifth edition of the MTN Pulse Ghana ‘Just Be Series’ will be hosted by MTN Pulse in partnership with Ahaspora Professionals Network and MTN Ayoba under the theme, Navigating New Market Trends. Read More

Finance Minister Recommends More Taxes to Reduce Nigeria’s Debt Burden
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, insisted that only the collection of more taxes and effective blocking of revenue leakages were realistic measures that would drastically cut borrowings and reduce the nation’s high debt burden. Read More

BDCs Central to CBN’s Exchange Rate Policies, Says ABCON
The Association of Bureaux De Change of Nigeria (ABCON) has said the Bureaux De Change (BDCs) are at the centre of Central Bank of Nigeria (CBN’s) exchange rate policies, ABCON has said. Read More

Baobab Okays USD 1 Billion Loan for African Businesses
Baobab Group has expressed optimism on lending at least USD 1 billion annually to African businesses. Expressing its confidence on the economy, the Group Chief Executive Officer, Baobab Group, Philip Stigwart, at a briefing, said the company is earmarking over 60 percent of its loans to Micro Small and Medium Enterprise development. Read More

LBIC’s Mortgage Loans Priced at 18 Percent for Civil Servants
The Lagos Building Investment Company mortgage loans to civil servants are still priced at 18 percent interest rate, without hidden charges, its Managing Director/Chief Executive Officer, Tobiloba Lawal, has said. 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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