23 February 2023
Eastern Africa
Africa CDC Gets New Director-General
The Assembly of the African Union has appointed Jean Kaseya of the Democratic Republic of Congo as Director-General of the Africa Centers for Disease Control and Prevention (Africa CDC) for a mandate of 4 years. Read More

Summit Provides Opportunity to Properly Explain Ethiopia’s Current Situation
The 36th African Union summit held in Addis Ababa last week has provided a better opportunity to explain about the current situation in Ethiopia in a proper way to the international community, Ministry of Foreign Affairs said. Read More

Ministry of Finance Holds Discussion with Development Partners Group
The Ministry of Finance hosted a meeting with the Development Partners Group Executive Committee. Read More

Israel Will Continue Providing Free Medical Services for Children with Heart Problem, Says Ambassador
Israel will continue providing free medical services for children with heart problems as part of the program that supports children all over the world, Israel’s Ambassador to Ethiopia Alelegn Admasu said. Read More

Affordable Mortgage Size Rises to KES 2.99 Million
The average size of mortgages under State-backed affordable housing has increased more than a quarter on the back of elevated inflation that has pushed up the cost of construction. Read More

Consumers, Debt Pain as Shilling Breaks KES 126-Mark on Dollar
The shilling hit a new all-time low against the greenback after breaking below the 126-per-dollar mark, setting up consumers to costly imported goods such as cars, electronics and machinery as well as power bills. Read More

MPs Fault Kenyan Government Plans to Cut Spending and Raise Levies
Kenyan economic strategists are walking a tightrope to craft a recovery plan for an ailing economy after a parliamentary team faulted the proposal to raise taxes and cut costs. Read More

Court Suspends 30 Percent Tax on Lumpsum Pension Pay
The High Court has suspended the 30 percent tax introduced on lumpsum withdrawal of retirement benefits following the amendment of the Finance Act in 2020. Read More

Rwandan Private Sector Explores Investment Opportunities in UAE
A delegation from Rwanda’s private sector, Rwanda Development Board and the Rwandan embassy in the United Arab Emirates are holding investment roadshows in UAE aimed at exploring investment and trade opportunities between the two countries. Read More

Rwanda, Jordan to Waive Visa Requirements on Ordinary Passports
Rwanda and Jordan will soon waive visa requirements for ordinary passports to accelerate bilateral cooperation between both countries, foreign ministers have said. Read More

Rwanda, Mozambique Step Up Fight Against Terrorism
Mozambican President Filipe Nyusi recently said he agreed with his Rwandan counterpart Paul Kagame to boost the fight against terrorism in the southern African country, local media report. Read More

Starlink Enters Rwanda, Package Costs RWF 600,000
Billionaire Elon Musk's satellite-based internet venture, Starlink, has started in Rwanda using inter-satellite links commonly known as space lasers, officials have confirmed. Read More

Mobile Money Transactions Hit TZS 140.9 Trillion Mark in 2022
Mobile money transactions in Tanzania hit a record TZS 140.9 trillion (approx. USD 60 billion) in 2022, a figure that beat transactions in the previous year 2021 TZS 3.7 trillion (approx. USD 1.6 billion) according to figures available at TCRA. Read More

Pesapal Rallies Hotel Sector to Adopt New Technologies for Post Covid
Government ministers who officiated the event commended the company for promoting digitalization in the local hospitality industry and emphasized the need of investing in the security and safety of digital payment platforms. Read More

Fishermen Ask for More Time to Clear Licence Fees
The fishing community has asked the Agriculture ministry to give them a six-month grace period to clear their annual licence fees. Read More

Uganda Has 15.6 Million Middle Class Citizens, Says Govt Report
A government report has indicated that the number of Ugandans who are now classified as middle class citizens stands at 15.64 million. Read More

Telecoms in Rush for 5G Technology, Amid Low Smartphone Penetration
Telecoms are facing a tough road ahead in testing and deploying 5G, or the fifth generation of wireless technology, in a country beleaguered by low smartphone penetration and high internet costs. Read More

Kenya, Uganda Start Talks to Create One-Stop Border Post in Bandit-Prone Area
Kenya and Uganda have initiated talks for the opening of a One-Stop Border Post in Lokiriama in northwest Kenya to boost trade and open up the far-flung area, the Interior Ministry said Monday evening. Read More
Northern Africa
Customs Announces Changes as of 1 March
Algeria Customs announced the establishment of a new tariff structure as of 1 March. This new structure affects 375 tariff headings for certain products, DGD explained in a note addressed to its structures. Read More

The Creation of Five Free Zones Under the Government's Scrutiny
The government, which held its weekly meeting, examined, among other issues, the five free trade zones to be created in the medium and long term. Read More

U.S. Ambassador Paves the Way for U.S. Investors
U.S. Ambassador to Algiers Elizabeth Moore Aubin has been meeting with industry, energy and agriculture leaders in recent days to prepare the ground for potential U.S. investors to enter the Algerian market. Read More

Europe’s Enthusiasm for Algerian Hydrogen
Galsi Project is a key challenge for European countries seeking not only to diversify their energy supply in the short term, but also to prepare for the new era of new energy and its hydrogen needs, which according to data from the European Union’s Energy Committee will be around 10 million tons per year. Read More

Egypt Signs 3 Binding Agreements to Pump USD 145 Million Investments in Automotive Sector
Egypt signed three binding agreements with three of the largest international groups in the automotive industry, during the first meeting of the Supreme Council of Automobiles, Prime Minister, Mostafa Madbouli announced. Read More

Madbouli Praises Egypt’s First Sovereign Islamic Sukuk with a Total Value of USD 1.5 Billion
Prime Minister Mostafa Madbouli has praised the Ministry of Finance’s success in issuing Egypt’s first sovereign Islamic sukuk with a total value of USD 1.5 billion. Read More

Egypt's Sovereign Sukuk Oversubscribed 4x with Highest Return in 10 Years
Egypt succeeded in issuing its first-ever issuance of sovereign Islamic sukuk, as the subscription was oversubscribed more than 4 times, according to Minister of Finance, Mohamed Maait. Read More

Egypt, India Cooperate on Capacity-Building Within 'SolarX Grand Challenge'
Chairman of the General Authority for Free Zones and Investment Hossam Heiba met with Manager of Invest India Aprajita Saini to discuss the delivery of capacity-building to Egyptian firms operating in the solar energy sector. Read More

Inflation Jumps to 8.9 Percent, Driven by Higher Food Prices
According to statistics from the High Commission for Planning, the rate of inflation in Morocco increased to 8.9 percent in January from the previous year due to a substantial increase in food costs. Read More
Southern Africa
Agriculture Budget Fails to Grow Sector
Treasury’s budget allocation to the agriculture sector has failed to yield desired sectoral growth  over the past five years despite the sector getting 10 percent of the total budget, it has been established. Read More

Local Fertiliser Firms Outline AIP Challenges
Fertiliser Association of Malawi says the current design of the Affordable Inputs Programme (AIP) is marred with inefficient targeting, mono-cropping and uncontrollable costs. Read More

Greenbelt Authority to Boost Cotton Production
Cotton production in Malawi is set to increase in the coming years due to Greenbelt Authority’s decision to venture into the production of cotton on a large scale in Salima District. Read More
South Africa
Treasury Takes the Wheel at Eskom
Some of Eskom’s coal-fired power stations could be concessioned out to private operators as part of a raft of conditions that finance minister Enoch Godongwana has attached to a ZAR 254 billion (approx. USD 14 million) package. Read More

Solar Industry Takes a Dim View of Size of Tax Break for Households
The Treasury has announced two tax relief measures to encourage businesses and individuals to invest in renewable energy and increase electricity generation as part of the ZAR 13 billion (approx. USD 713 million) allocated for tax breaks in the 2023 national budget. Read More

Godongwana Tells SA to Prepare for Greylisting
Finance minister Enoch Godongwana has warned SA to prepare to join the ranks of Albania, South Sudan and Yemen, countries deemed to have inadequate antimoney laundering and terrorist financing controls. Read More

Andre de Ruyter Leaves Eskom with Immediate Effect
Eskom chief executive Andre de Ruyter will be stepping down with immediate effect. The group announced that following the convening of a special board meeting on 22 February 2023, the Eskom board and de Ruyter reached mutual agreement to curtail his notice period to 28 February 2023. Read More
Immediately Bring Back Vedanta Mineral Resources to Run Dormant KCM
Former Zambia Union of Financial Institutions and Allied Workers Ackim Mweemba has called on the New Dawn government to immediately bring back Indian investor Vedanta Mineral Resources to run dormant Konkola Copper Mines. Read More

Government will Engage Congo to Facilitate 24-hr Operations at Kasumbalesa Border – VEEP
Vice-President Mutale Nalumango says government will engage the Democratic Republic of Congo to facilitate implementation of 24-hour operations at Kasumbalesa-Mokambo Border Post among others. Read More
Western Africa
Cote d'Ivoire
Conseil du Café-Cacao Responds to Ivory Coast Cocoa Export Default Risks
The Conseil du Café-Cacao, responsible for Ivory Coast’s cocoa trade has responded to concerns over a perceived lack of crop supplies for export leading to risks of contract defaults, asserting that it believed there were sufficient stocks, reports Neill Barston. Read More

Dachser Turkey Organizes Charter Flight to Ivory Coast
At the end of last year, the DACHSER Turkey Air & Sea Logistics team operated a charter flight from Turkey to West Africa. Read More

Ivory Coast Limits Fresh Cocoa Purchases from Two Major Traders
Top cocoa producer Ivory Coast is restricting some multinational traders from additional bean purchases for exports as the country seeks to avoid a shortage, according to the head of the local regulator. Read More

Only OMCs with 45 Outlets will Benefit from Latest Gold for Oil Consignment
The second consignment of petroleum products that have arrived in the country under the government’s Gold for Oil programme will be sold to Oil Marketing Companies that have not less than 45 outlets across the country. Read More

Ghana Asks Development Partner Creditors to Freeze Interest Payment on USD 8.5 Billion
The Minister of Finance, Ken Ofori-Atta, has appealed to Ghana’s development partners to allow the country to suspend the payment of interests on about USD 8.5 billion owed to them for a minimum of three years. Read More

BoG, Banks Agree on Disbursements
The Bank of Ghana has agreed with the Ghana Cocoa Board and commercial banks to use COCOBOD’s investments held at the various banks to pay its customers who may not agree with the decision to rollover the Cocoa bills. Read More

Ghanaian Banks’ Capital to Weaken on Sovereign Debt Restructure
Ghanaian banks could face significant pressure on their capitalisation due to the restructuring of local-currency (LC) sovereign debt, Fitch Ratings says. Read More

MOFI, Ministry Mull Funding for Local Carriers
The Ministry of Finance Incorporated (MOFI) said it is exploring ways to provide a financing/investment portfolio for Nigerian carriers to expand their fleet, enhance capacity and become globally competitive. Read More

Naira May Fall to NGN900/USD from Demand Pressure – Report
A former Lagos State Attorney-General and Commissioner for Justice, Olasupo Shasore asked the Federal High Court, Lagos to strike out a money laundering charge filed against him by the Economic and Financial Crimes Commission. Read More

FG Plans Aeromagnetic Survey in Edo, Four Others
The Federal Government has concluded plans to carry out aeromagnetic surveys in Edo, Ogun, Oyo, and parts of Kogi and Kwara states to improve the availability of geological information and data that would enhance the diversification of the economy through mineral sector development. Read More

FG Names Winner of 700MW Zungeru Plant Concession
The Federal Government announced the preferred bidder for the concession of the 700 megawatts Zungeru Hydroelectric Power Plant for a fee of USD 70,000,251 per year for a period of 30 years. Read More
ALN Snapshot
Is the Proposed Law on the Right to Disconnect a Good Idea?

The Employment (Amendment) Bill, 2022 (2022 Bill) which is sponsored by the Senator of Nandi County, Samson Cherarkey, was gazetted by a Gazette Notice dated 9 December 2022 but has not yet been tabled to the Senate. Read More

Kenya Publishes Common Reporting Standard Regulations 2023

The Cabinet Secretary for the National Treasury & Planning recently published the Common Reporting Standards Regulations (the Regulations). Read More

The Restructuring of the Mineral Royalty Payment Regime on Copper

The Mines and Minerals Development Act No. 11 of 2015 (the Mines Act) is an Act that provides the law relating to the exploration, mining and processing of minerals, payment of mineral royalties and matters connected with or incidental to the foregoing. Read More

Amendment to the National Payment System Proclamation Becomes Effective
An amendment to the National Payment System Proclamation No. 718/2011 was recently published on the Negarit Gazette. Read More
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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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