10 March 2023
Eastern Africa
Addis Ababa Hosts the 8th Hortiflora International Expo
The 8th Hortiflora International Expo opened in Addis Ababa, Millennium Hall, in the presence of Girma Amente, Minister of Agriculture, Mesfin tafessew, CEO of Ethiopian Airlines, and Nega Mekuanint, Board Chairman of Ethiopian Horticulture Producers’ and Exporters’ Association. Read More

Ethiopian Airlines to Start Direct Flight to Karachi
Ethiopian Airlines, the largest network operating carrier in Africa, announced that it had finalized preparations to launch direct flights to Karachi, Pakistan as of 1 May 2023. Read More

Homes to Face Higher Sewer, Water Bills in World Bank Deal
Water and sewerage costs are set to rise under new World Bank-backed reforms aimed at helping debt-ridden service providers raise KES 166 billion (approx. USD 1.3 billion) for expansion and upgrade of the ageing networks. Read More

Costly Loans Beckon as Government Paper Rates Hit Record Levels
Homes and businesses face costly loans as the government steps up borrowing from the domestic market, pushing returns on bond and Treasury bills to record levels. Read More

Kenyans Cut Luxury Spending as High Inflation Keeps Families Awake
Kenyans are reducing spending on luxury items, toys and electronics as they chase bargains to deal with the unrelenting inflation that is eroding purchasing power. Read More

Mobile Phone Sales Up 6 Percent in Defiance of Excise Tax
Consumers bought 3.78 million more mobile phones in the six months that ended December 2022 compared to a similar period a year earlier, defying the introduction of excise tax that made the gadgets costlier. Read More

Rwanda, GiveDirectly to Strengthen Partnership in Poverty Reduction
Rwanda and GiveDirectly, a non-profit organization that provides unconditional cash transfers to economically vulnerable people, are set to strengthen their partnership in supporting the poor. Read More

Rwanda to Participate in UK-Africa Summit
UK Prime Minister Rishi Sunak is expected to hold a UK–African Investment Summit in London, which will include representatives from Rwanda and 24 other African nations, the British government has announced. Read More

LPG Exhibition Comes to Fore in Dar es Salaam
The first Liquefied Petroleum Gas exhibition prepared by LPG EXPO Company from Singapore, Tanzania LPG Association with collaboration with the government of Tanzania, will take place next week in Dar es Salaam. Read More
Tanzania, Switzerland Sign Deal to Boost Bilateral Trade
Tanzania and Switzerland have agreed on key issues to boost bilateral trade, which currently stands at USD 415 million. Read More

Optimism High as Dar es Salaam Hosts TZ-China Investment Forum
Dar es Salaam is set to host Tanzania and China trade and investments forum on May, this year. Read More

NMB’s Jasiri Bond Lists on Luxembourg Green Exchange
NMB Bank’s Jasiri a gender bond became the first sub-Sahara African bond to list on the Luxembourg Green exchange during the launch of the Luxembourg Women in Finance Charter at the Luxembourg Stock Exchange. Read More
Northern Africa
Algerian Blockade Costs Spain EUR 930 Million

Algeria’s blockade on Spanish imports and exports has been ongoing for the past nine months, and Madrid is now turning to the EU for financial aid to compensate for its losses. Read More

PM Madbouli Reviews New Program to Achieve 'Substantial Increase' in Egyptian Exports

Egypt’s Prime Minister Mostafa Madbouli reviewed a new program that aims at achieving a “substantial increase” in Egyptian exports as one of the most important sources of foreign currency. Read More

Egypt's Annual Core Inflation Records 40.3 Percent in February
Egypt’s annual core inflation rate recorded its highest rate ever in February 2023 at 40.3 percent, compared to 31.2 percent in January 2023, the Central Bank of Egypt said in a statement. Read More

MSMEDA Finances Women with EGP 13.4 Billion Over 8 Years: CEO
Basil Rahmi, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), has confirmed that the agency continues to provide various aspects of support to women to maximize their role in society and empower them economically and socially. Read More

CBE Issues Regulations for Initiative to Support Production Sectors
The Central Bank of Egypt (CBE) has issued regulations for an initiative to support production sectors, specifically the industrial and agricultural sectors, which were approved by the Cabinet earlier. Read More

11th Edition of Inwi Days Supports Retail Tech Startups in Morocco
Technology has significantly revolutionized the retail sector in recent years, transforming the way consumers shop and retailers operate. Read More

Royal Air Maroc Cancels More Flights To, From Paris
Royal Air Maroc (RAM) has announced canceling more flights to and from Paris. Read More

Ryanair To Launch Air Route Connecting Ouarzazate, Barcelona
Ryanair announced that it will launch an air route connecting Ouarzazate and Barcelona, starting in April. Read More
Southern Africa
Malawi, EIB Discuss Pipeline Projects
President Lazarus Chakwera evening held bilateral talks with the European Investment Bank (EIB) on the sidelines of the 5th United Nations Conference on Least Developed Countries in Doha, Qatar. Read More

Standard Bank Profit Up 58 Percent
Net profit for Malawi Stock Exchange-listed Standard Bank plc increased by 58 percent to MWK 39.2 billion (approx. USD 38 million), driven mostly by growth in revenues from lending and cost cutting operations, the bank’s published results for the financial year ended 31 December 2022 showed. Read More

Research Recommends Tobacco Intercropping
Research conducted by the Agricultural Research and Extension Trust has shown that producing tobacco with legumes on one field produces higher yields for farmers. Read More

South Africa
New Laws to Boost Energy Supply in South Africa
The Department of Trade, Industry and Competition has published the draft block exemption regulations for Energy Suppliers 2023 and similar exemptions for Energy Users under the Competition Act. Read More

Business Launches ZAR 100 Million Fund to Support Technical Work on Energy Crisis
Big business has again put its hand in its pocket to come up with ZAR 100 million (approx. USD 5.4 million) in donations to fund the activities of the National Energy Crisis Committee, located in the president's office. Read More

Heineken-Distell ZAR 40.1 Billion Merger Approved, but with Long List of Conditions
Heineken and Distell’s ZAR 40.1 billion (approx. USD 2 billion) merger has been given the go-ahead by the Competition Tribunal, almost 18 months after the tie-up was announced. Read More

Western Cape Adds 3 Solar Plants to its Plans to Quit Eskom
As the Gauteng provincial government tabled its budget for the year, including its plans to mitigate the load shedding crisis, the Western Cape is moving forward with its own plans to do the same. Read More

Zambia and DR Congo Commence High-Level Talks on One-Stop Border Posts Development
Zambia and the Democratic Republic of Congo have commenced high-level, bilateral discussions about the Kasomeno-Mwenda Toll Road Project and one-stop border posts being developed by GED Africa. Read More

Government Releases ZMK 10.9 Billion to Finance Public Service Delivery
Minister of Finance and National Planning Situmbeko Musokotwane has revealed that government in February 2023 released ZMK 10.9 billion (approx. USD 540,000) to finance public service delivery. Read More

Government Projects to Recoup Over USD 1 Billion from Lusaka-Ndola Road Project
Infrastructure, Housing and Urban Development Minister Charles Milupi says government will recoup over USD 1 billion from the Lusaka-Ndola dual carriageway project during the 25-year concession period. Read More

Mobile Money Grows 75 Percent
Zambia’s value of mobile money transactions increased significantly to ZMK 295.8 billion (approx. USD 15 million) last year, from ZMK 169.4 billion (approx. USD 9.8 million) recorded the previous year, reflecting an increase of 74.63 percent. Read More
Western Africa
Cote d'Ivoire
Thai Food, Products, and Cultural Fair in Abidjan, Republic of Côte d'Ivoire
the Royal Thai Embassy in Dakar and the Royal Thai Honorary Consulate in Abidjan, co-organized the Thai Food, Products, and Culture Fair, at Prima Center, Abidjan, Republic of Côte d'Ivoire. Read More

Firering Increases Stake in Côte d'Ivoire Project
Aim-listed Firering Strategic Minerals has increased its stake in its flagship Atex lithium/tantalum project, in Côte d'Ivoire, to 90 percent. Read More

Côte d'Ivoire is the Highest Taxed Country in the World
Côte d’Ivoire citizens pay the highest income taxes in the world according to this year’s survey findings by World Population Review. Read More

Government to Raise Per Capita GDP to USD 4,500
The government is taking keen steps to raise per capita gross domestic products (GDP) from the current USD 2,500 to USD 4,500 by 2030, President Nana Addo Dankwa Akufo-Addo has said. Read More

Property Rate Platform to Begin Operation by End of March
Commissioner General of the Ghana Revenue Authority, Reverend Dr. Ammishaddai Owusu-Amoah, says the common platform for the collection of property tax rates in the country will be fully operational by March ending. Read More

Technology Has Made Tax Collection, Compliance Easier
Commissioner General of the Ghana Revenue Authority, Reverend Dr. Ammishaddai Owusu-Amoah, says technology has played a significant role in the company’s tax mobilization efforts. Read More

Govt Raises GHS 4.5 Billion in Lowest Rate Since June
The government has raised more than GHS 4.5 billion from the sale of short-dated securities at the lowest rate since June 2022. Read More

Nigeria Records Trade Surplus for the First Time in Three Years
Nigeria has recorded a trade surplus for the first time in three years signifying that Nigeria’s export businesses are gradually clawing back most of the losses recorded after the Covid-19 worldwide shutdown. Read More

Superior Quality Cocoa Beans Top Nigeria’s Agricultural Exports in Q4 2022
The National Bureau of Statistics disclosed in its latest Foreign Trade Statistics Report that superior-quality cocoa beans topped Nigeria’s agricultural exports in the fourth quarter of 2022. Read More

Naira Gains Further at Investors, Exporters’ Window
The naira gained further as it exchanged at N461 to the dollar at the Investors and Exporters’ window. Read More

Dangote Refinery Will Drive African Content, Says NCDMB
The Dangote Integrated Refinery and Petrochemical Company, with an installed capacity of 650,000 barrels per day, which is expected to come on stream in the year will afford Nigeria and other African countries the partnership opportunities for sourcing petroleum products and fertiliser. 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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