28 February 2023
Eastern Africa
Agriculture Minister Confers with Chinese Ambassador in Ethiopia
Minister of Agriculture, Girma Amente has discussed with Chinese Ambassador in Ethiopia, Zhao Zhinyuan on strengthening cooperation in Agriculture sector. Read More

African Electronic Trade Group Negotiates to Open Its East Africa Headquarters in Addis Ababa
The African Electronic Trade Group, a multi-stakeholder group which works to implement e-empowerments with a view to developing electronic trade in Africa, is negotiating with the Ethiopian Government to open its East Africa Headquarters in Addis Ababa. Read More

Eight Companies Lease 35.58 Hectares of Developed Land in Bure Integrated Agro Industrial Park
Amhara Industry Parks Development Corporation leased 35.58 hectares of developed land to eight companies in Bure Integrated Agro Processing Industrial Park. Read More

Ethiopia Earns USD 702 Million from Coffee Export
Ethiopian Coffee and Tea Authority announced that Ethiopia gained USD 702 million in the past seven months by exporting 126,649 tons of coffee. Read More

Kenya Power Tests Regulator with Bills Set in Dollars, Euros
Kenya Power will start charging some of its customers in dollars and euros to shield the utility from foreign exchange losses following the weakening of the shilling. Read More

Manufacturers Cut 6,800 Jobs Despite Tax Incentives
Manufacturing firms in Kenya have failed to create decent jobs despite years of receiving incentives as part of a government agenda of increasing the sector’s contribution to economic output. Read More

Boost for Medium, Small Firms as Loan Rates Reduce
Average lending rates to micro small and medium enterprises reduced in the last quarter of last year on increased optimism after the electioneering period. Read More

Safaricom Cuts Interim Dividend for First Time After Profit Drop
Safaricom has trimmed its interim dividend by KES 2.4 billion (approx. USD 18.8 million) on the back of reduced earnings in the half-year period, marking the first cut since it started distributing profit to shareholders before the end of a financial year. Read More

Kagame Calls Out Absentee Leaders
President Paul Kagame called out senior and local government officials who are constantly pushed to deliver on their duties, describing it as a major bottleneck to the country’s goals. Read More

Rwanda’s Population Passes 13 Million
Rwanda’s population increased from 10.5 million in 2012 to 13.2 million in 2022, indicating an annual population growth rate of 2.3 percent, according to findings released from the recent population census. Read More

Government Extends Manufacturing Recovery Programme by Two Years
Government has extended, by two years, the Manufacturing and Build to Recover Programme, which is aimed at fast-tracking private sector investments in manufacturing and construction and boosting economic recovery from Covid-19 efforts. Read More

Rwandans Living Nine Years Longer Than Other East Africans
Rwandans are living at least nine years longer than the majority of East Africans, according to the latest figures released by the National Institute of Statistics. Read More

How TZS 572 Billion in EU Financing Will Boost Lending
NMB Bank said that the TZS 572 billion (approx. USD 245 million) financing support that it has secured from three European Union lenders would be vital in helping it to consolidate lending activities. Read More

PM Reveals Major Discovery in Palm Oil Seeds
Prime Minister Kassim Majaliwa has revealed that research institutes in the country have succeeded in discovering and experimenting in the cultivation of the palm oil tree seeds known as Terena. Read More

Zanzbar Eyes Threefold Rice Production
Zanzibar anticipates a threefold increase in rice production under irrigation scheme from 5,400 to 17,332 tons, the House of Representatives was told here. Read More

AfDB Boss Affirms Support to Zanzibar’s Blue Economy Agenda
President Hussein Mwinyi has commended the African Development Bank (AfDB) for the impact of its funded projects in Zanzibar and new pledges to support the blue economy agenda. Read More

Uganda’s ‘Huge’ Gold Discoveries
Last year, during his State of the Nation address, President Yoweri Museveni announced that Uganda had found up to 31 million metric tonnes of gold with extractable pure gold estimated to be about 320,000 metric tonnes valued at USD 12.8 trillion. Read More

Netflix Cuts Prices for Subscribers
Streaming giant Netflix has cut prices in more than 30 countries as it attempts to attract more subscribers, BBC reported on. Read More

MultiChoice, UCC Move on Copyrights
MultiChoice Uganda together with Uganda Communications Commission have embarked on the journey of equipping content creators with information and insights on ways to avoid copyright infringement cases. Read More
Northern Africa
Polypropylene plant: Launch of the Project Next July

The project to build the polypropylene plant in Arzew will be launched in July, Abbes Laghrour, Managing Director of Sonatrach Total Enterprise Polymers, announced in a statement to the UK’s Independent Commodity Intelligence Services, a firm specializing in energy market research. Read More

A Fundamental Basis for Economic Development
Finance and Budget Committee held a session on Sunday chaired by Lakhdar Salmi, to hear Salah Eddine Taleb, Governor of the Banque d’Algérie, on the money and credit bill, the National People’s Assembly said in a statement. Read More

Important Announcement by the Governor of the Banque d’Algérie
Speaking this outside an audience at the National People’s Assembly, Governor of the Banque d’Algérie, Mr. Salah Eddine Taleb, announced the opening of foreign exchange offices throughout the country’s wilayas during 2023. Read More

Solar Panel Manufacturing: Two Algerian Factories Are Created
Two of the first solar panel manufacturing plants to meet international standards came into operation in Algeria. Read More

Egypt’s Parliament Approves New Amendments to Facilitate Tax-Free Car Import for Expats

The Egyptian House of Representatives approved new amendments to law no.161 for 2022 in Monday's session, which concerns the purchase of tax-free car imports for Egyptian expatriates. Read More

Investing in Humans, Technology 'Basis' of Urban Development
The success of urban development and the shift towards smart green cities mainly requires investment in humans and advanced technology, in addition to localizing development and good management of the wealth of data of smart cities. Read More

Investments in Oil Field, Gas Exploration Amounted to EGP 18 Billion
Investments in the field of oil and discoveries of gas fields within the development of the Sinai Peninsula amounted to approximately EGP 18 billion (approx. USD 587 million), according to the Prime Minister, Mostafa Madbouli. Read More

Israeli Irrigation Equipment Manufacturer Netafim Opens Plant in Morocco
Israeli irrigation equipment manufacturer Netafim announced the opening of its first North African manufacturing plant in Morocco. Read More

Morocco-Switzerland Trade Hits Record High of USD 700 Million in 2022
Trade between Morocco and Switzerland set a new record in 2022, according to data released by the Swiss Federal Office of Customs and Border Protection. Read More

Climate Change, Water Resources Are the Biggest Challenges to Olive Yields in Morocco
At the Al Moutmir Open Innovation Lab held virtually, climate change and water resources were highlighted as two major obstacles facing olive production in Morocco. Read More
Southern Africa
Fresh Promise on Economic Zones
The government intends to create about 240,000 jobs through the Special Economic Zones, with Minister of Industry and Trade Simplex Chithyola Banda saying some of the structures would be constructed at least by June this year. Read More

MACRA Donates Cholera Medical Supplies Worth MWK 54 Million to MoH
Malawi Communications Regulatory Authority (MACRA) has donated over MWK 54 million (approx. USD 53,000) worth of medical supplies to the Ministry of Health, adding to the collective effort in the fight against the current Cholera outbreak. Read More

Mozambique Learns About Vietnam’s Cooperative Development
A delegation from Mozambique has visited Vietnam to learn about the country’s cooperative development. Read More

Ban on Shipping in Mozambique Channel Lifted
Mozambique’s National Meteorology Institute lifted the ban on shipping in the Mozambique Channel, which had been imposed as a measure of precaution against the danger posed by tropical cyclone Freddy. Read More

Inflation Falls to Single Digits
Despite increases in transport and food prices, which have already in one year increased by 16.71 percent and 16.06 percent respectively and for the first time since August 2022, inflation in Mozambique slowed to single digits during the month of January. Read More

South Africa
Here is the Official Petrol Price for March
The Department of Mineral Resources and Energy has published the official fuel price adjustments for March 2023. Read More

Eskom Spokesperson Sikonathi Mantshantsha Resigns
Eskom spokesperson Sikonathi Mantshantsha has announced he will be leaving the group at the end of February. Read More

One of South Africa’s Biggest Banks is Betting Big on Solar
Three renewable energy projects arranged and financed by Absa reached financial close on 23 February 2023. Read More

Oceana Flags Higher Headline Earnings and Canned Fish Sales
Higher canned fish sales have lifted the performance of the global fishing group Oceana as it expects its headline earnings to increase at least one-fifth. Read More

ANIVO-Z Urges Zambian Government to Reject Mining Proposal in Lower Zambezi National Park
Zambia, a prominent animal welfare group, has issued a press statement advising the Zambian government to reconsider the proposed Kangaluwi open mine in Lower Zambezi National Park. Read More

Kasenseli Gold Mine to Re-Open Soon
Zambia National Service Lieutenant General Commander, Maliti Solochi says Government has made progress with plans to open Kansenseli Gold Mine. Read More

Zambia Undertakes Stakeholder Consultations to Review The Constituency Development Fund Act For Effective Community Development
The Constituency Development Fund (CDF) is a fund set up by the Zambian government to support development projects at the constituency level. Read More

Cross Border Market Traders to Set Up International Trading Centre
The Zambia Cross Border Traders and Integrated Business Association has acquired a piece of land in Kitwe for the establishment of a modern international trading centre. Read More
Western Africa
Cote d'Ivoire
Water and Sanitation Sector Stakeholder Resolve to Regulate Water Resources in Abidjan Declaration
For one week, ministers in charge of water and sanitation, experts and advocates on water and sanitation, development partners, researchers among others gathered in Abidjan to deliberate on two important topics, water and sanitation under the theme ‘Acting for sustainable management of resources and access to water and sanitation for all.’ Read More

Coupon, Principal Payments Resume Next Month
Government has affirmed that payment of coupons and principals for old bonds will resume in March, following a successful settlement and conclusion of the Domestic Debt Exchange Programme. Read More

Government Settles GHS 87 Billion Worth of Bonds
Government has successfully concluded the Domestic Debt Exchange Programme for GH-denominated notes and bonds issued by the state, the Energy Sector Levy Act and Daakye Trust. Read More

OMCs Benefitting from ‘Gold for Oil’ to Sign Undertaking to Reduce Prices
All Oil Marketing Companies (OMCs) that purchase petroleum products under the government’s Gold for Oil Programme will be required to sign an undertaking to guarantee a reduction in their prices at the pumps. Read More

Parliament Urged to Pass Excise Duty Amendment Bill
Dr Alex M. Kombat, Assistant Commissioner Research and Policy of the Ghana Revenue Authority has called on Parliament to speed up with the passage of the Excise Duty Amendment Bill to save life and raise revenue. Read More

CBN Moves to Curb Brain Drain with New Tenure Limits for Banks’ Executives
The Central Bank of Nigeria (CBN) has said its recently released revised regulatory requirements for the tenure of executive management and Non-executive Directors (NEDs) of deposit money banks and financial holding companies was expected to help address brain drain in the banking sector. Read More

Investors Cautious as Stock Market Crosses NGN 30 Trillion Market Capitalisation
Amid the tension associated with the 2023 general elections, the stock market of the Nigerian Exchange crossed the NGN 30 trillion (approx. USD 65 billion) mark in terms of market capitalisation, setting a new record as domestic investors shunned high risk stocks and focused more on investment in fundamental stocks. Read More

World Bank, Air Force, Shofac to Establish USD 5 Billion Aviation City in Osun
The Chief of the Air Staff, Air Marshal Oladayo Amao, said that the World Bank, the Nigerian Air Force and the Messrs Shorefac have concluded plans to establish an aviation city in Oshogbo, Osun State. Read More

Energy Cost, Pollution Affecting Growth in Nigeria, Others
The available energy in Nigeria, Cameroon, Egypt, and other African countries, is expensive, inefficient, polluting and unreliable, the latest February 2023 report of the International Gas Union, in partnership with Hawilti, has stated. 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.

Financial Times
Business Daily Africa
Daily Nation, Kenya
New York Times
Daily News, Tanzania

CNBC, South Africa
Independent Uganda
Daily News, Egypt
Sudan Commerce News
Sudan News Agency
Click Here to Subscribe to Our Newsletter
Copyright © 2023 ALN, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp