Ethiopia
European Union Granting Most Favorable Trade Regime to Ethiopia: Delegation Head Kobia
EU has granted the most favorable trade regime to Ethiopia that the EU can offer to any country in the world, European Union Delegation Head in Ethiopia Roland Kobia told Ethiopian News Agency. Read More

Ethiopia, China Sign MoU on Investment, Five Cooperation Agreements on Sectors
Ethiopia and China have signed a Memorandum of Understanding on investment promotion and facilitation which will serve as a new cooperation mechanism for investment, according to Ministry of Foreign Affairs. Read More

Ministry Bags ETB 33.9 Billion Revenues in April
Ministry of Revenues has collected more than ETB 33.9 billion (approx. USD 650 million) in tax and non-tax revenues in April, up by over 31 percent as compared to the same month last year. Tax authorities planned to collect ETB 35.7 billion (approx. USD 684 million) in the tenth month of the current fiscal year. Read More

Ethiopia Earns Record-Breaking USD 1 Billion from 10 Month Coffee Exports
Ethiopia has earned USD 1 billion from coffee exports over ten months, registering a new high. Oumer Hussein, Ethiopia's Minister of Agriculture, has congratulated "coffee families" on the achievement. Read More

Kenya
CMA Licenses Three Fund Managers as African Alliance Drops Investment Banking
The Capital Markets Authority (CMA) has licensed three fund managers, bringing the number to 29. African Alliance Kenya Asset Managers, CPF Financial Services, and Kuza Asset Managers will operate as fund managers in the capital markets. Read More

Regulator Stops Wheat Quota Plan by Millers
The competition watchdog has stopped a bid by large-scale millers to manage the allocation of locally produced wheat among themselves. The processors sought to take over the function performed by the government. Read More

Kingdom Taps KES 20 Billion CBK Funds for Lending
Kingdom Bank is applying part of the KES 20.9 billion (approx. USD 180  million) it received from the Central Bank of Kenya (CBK) to give loans, a strategy that seeks to enhance returns from the cash on which it is not incurring interest expenses. Read More

Betting Via M-Pesa Hits KES 169.1 Billion in One Year
Kenyans spent KES 169.1 billion (approx. USD 1.5 billion) to place bets through Safaricom’s M-Pesa in the year to March, underlining the gambling craze that has become a national pastime. Read More

Rwanda 
Central Bank - Economy Maintained Recovery Path in First Quarter of 2022
Rwanda's economy maintained strong growth in the first quarter of this year, the central bank said on Thursday, reflecting sustained recovery from the 2020 Covid-19-induced contraction. Read More

Rwanda Seeks to Expand Internet Broadband for Smart Education-Minister Uwamariya
The Minister of Education Dr. Valentine Uwamariya has said that Rwanda is trying to embark on smart education by setting up a platform with fast internet particularly for the education sector, building from an existing fiber optic network. Read More

Rwanda to Establish Climate Data Centre
Rwanda could soon host a publicly accessible data centre on weather, climate, air pollution and water resources to serve the needs of governmental, private sectors and education. Read More

Auditor General: Irregular Expenditures Reduced by 43 Percent
Auditor General, Alex Kamuhire, on 12 May tabled his annual report to a joint parliamentary session where he said that overall irregular expenditure reduced by 43 percent from RWF 5.7 billion (approx. USD 5.6 million) in 2020 to RWF 3.2 billion (approx. USD 3 million) in 2021. Read More

Tanzania
Fintechs Future Looks Bright After Launch of  New Start-Up Accelerator
The buzz around Tanzania’s burgeoning financial technology scene is set to get bigger with the launch of the new fintech-focused start-up accelerator. Read More

Bloomberg’s Second Intake to Bolster Financial Reporting
The Bloomberg Media Initiative Africa has begun the second intake of its Financial Journalism Training programme in the country, which trains journalists and media professionals in business and financial journalism to bolster the country’s financial reporting industry. Read More

French Logistics Firm Bolloré Bags USD 133 Million Deal for Crude Oil Pipeline
Local firms in Uganda and Tanzania will only play the support role in providing the transport and logistics services for the construction of the Hoima-Tanga pipeline, after oil giant TotalEnergies awarded the deal to French multinational Bolloré Logistics. Read More

Kenya's Tax Agency Works to Resolve LPG Trucks Snarl-Up at Namanga
The Kenya Revenue Authority has refuted claims that the snarl-up of trucks at the Kenya-Tanzania border town of Namanga is due to an increment of taxes on liquid petroleum gas, even as the agency as seeks to hasten the resolution of the impasse. Read More

Uganda
Electrification Offers Big Business for SMEs
According to the African Development Bank, 640 million Africans have no access to electricity and if one looks at Sub-Saharan Africa excluding South Africa, per capita consumption is just 180kWh compared to 13000 kWh per capita in the US and 6500 kWh in Europe.  Read More

European Union Commits to Work with the Tourism Sector in Uganda
The European Union delegation in Uganda has expressed readiness to work with the Tourism sector in Uganda, as part of their set priorities for four years beginning 2022/24. Read More

Equity, IFC in USD 165 Million Partnership to Support SMEs
Equity Group and the International Finance Corporation (IFC) have signed a partnership agreement in support of the sustainable development of Africa through supporting micro, small and medium sized businesses. Read More

Trade Between Uganda, Turkey Grows by USD 8 Million
Trade volumes between Uganda and Turkey rose from USD 41 million in 2019, to USD 63 million in 2020, before increasing further to USD 71 million in 2021. Read More

Egypt
Kamco Invest Successfully Leads Sale of Globalcorp in Egypt
Kamco Invest, a regional non-banking financial powerhouse, successfully acted as the exclusive sell-side advisor and the sole financial advisor on the sale of a majority stake in GlobalCorp for Financial Services, a leading Egyptian non-banking financial institution. Read More

Ministry of Health Launches 58 Free Medical Convoys Within 10 Days
The Ministry of Health announced the launch of 58 free medical convoys in remote areas deprived of health services, during the period from 12 to 21 May, as part of President Abdel Fattah Al-Sisi’s “Decent Life” initiative. Read More

Homzmart Begins Trading Between Egypt, Saudi Arabia Branches
Homzmart, the platform specialized in the furniture trade, announced the start of implementing its first commercial operations to Saudi Arabia, in preparation for a new phase in the furniture industry. Read More

NTRA Removes Illegal Telecom Networks Affecting Service Quality in Giza
The National Telecommunications Regulatory Authority of Egypt (NTRA) announced that it removed unlicensed wireless networks from major areas in Giza. Read More

Morocco
Cepsa Intends to Build Spain-Morocco Hydrogen Pipeline
CEO of Spanish energy company Cepsa Maarten Wetselaar has announced plans to build a pipeline to export hydrogen to Morocco. The pipeline is expected to connect Cespa’s San Roque refinery in Cadiz to Morocco. Read More

Plastics Manufacturer Erum Expands its Tangier Factory
Plastics manufacturing giant Erum has completed an expansion of its Tangier factory, inaugurating the new facility. The facility specializes in making plastic products for the clothing sector, such as plastic hangers. Read More

New Adient Automotive Seating Factory Opens in Morocco
A new Adient Automotive Seating factory was opened in Kenitra’s Industrial Acceleration Zone near Rabat. Minister of Industry and Trade Ryad Mezzour chaired the inauguration ceremony of the factory, which cost an estimated MAD 72 million (USD 7.13 million) to build.  Read More

Morocco, Hungary Trade Increased by 24 Percent in 2021
Trade between Morocco and Hungary reached USD 260 million in 2021, marking an annual growth of 24 percent, said Mihaly Varga, Hungary’s Minister of Finance.  Read More

Govt Moves on Mining Ventures
Ministry of Mining says it expects to finish some mining development agreements negotiations with three mining firms by June this year to resume major mining activities. Read More

MBS Concerned Over Influx of Non-trade Weighing Scales
Malawi Bureau of Standards has expressed concern over the influx of non-trade weighing scales in the country saying they pose a threat to the promotion of fair trade. Read More

Soya Farmers Smiling
Soya farmers have a sweet tale this season as the price of the commodity continues to rise, lately selling at about 100 percent above the government farmgate price of K450 per kilogramme. Read More

Lilongwe Floors Back to Daily Trading
Lilongwe tobacco auction floors are back to daily operations from operating for three days a week. Read More

Mozambique
Mozambique’s Minister of Mineral Resources and Energy to Talk Gas, Local Content and Investment at AEW 2022
Mozambique represents one of Africa’s most lucrative gas markets, and with over 100 trillion cubic feet of reserves, multiple large-scale project developments and a strategic location, the country is well positioned to meet domestic, regional and international gas demand while kickstarting long-term economic growth in southern Africa. Read More

Nyusi Challenges Universities to Strengthen Knowledge Production
Mozambican President Filipe Nyusi has challenged the publicly owned Eduardo Mondlane and Lurio Universities to strengthen their capacity to produce knowledge based on scientific research, in order to meet the current challenges faced by the country. Read More

Post-Harvest Losses Cost Farmers 30 Percent of Production
Mozambique loses about 30 percent of its agricultural production every year in post-harvest losses caused by inadequate handling and ineffective household storage, according to the deputy director in Mozambique of the UN World Food Programme, Pierre Lucas. Read More

CNDS Calls for Reintegration of Displaced People
Mozambique's National Defence and Security Council urged the political and administrative authorities in the northern province of Cabo Delgado to speed up activities that will lead to the integration into normal life of people displaced from their homes by terrorist raids, but who are now returning in several Cabo Delgado districts. Read More

South Africa
More Skilled South Africans are Leaving the Country, Says Takealot
South Africans are increasingly choosing to take their skills abroad, while the allure of the US dollar is also a growing trend in the country, says online retailer Takealot, which employs in excess of 2,000 people in numerous roles. Read More

Kerry Debuts USD 40 Million Taste Facility in South Africa
The new ZAR 650 million (APPROX USD 40 million) facility is located in KwaZulu-Natal, South Africa, and will produce sustainable nutrition solutions that will be consumed across the African continent, according to Kerry. Read More

South Africa's Eskom Warns Power Outlook Highly Uncertain
South Africa's struggling state-owned utility Eskom said on Wednesday that the power outlook remained highly uncertain, with unplanned outages often varying by 2,000 megawatts in one week. Read More

Massive Shortage of Nurses in South Africa
South Africa, like the rest of the world, is currently facing a nursing shortage, says private hospital group, Life Healthcare. Read More

Nigeria
 ABCON Seeks Creation of BDC Autonomous Market as FX Volatility Continues
The Association of Bureaux De Change Operators of Nigeria has called for what it called BDC Autonomous Foreign Exchange Trading Window, saying this would help to restore sanity to the market and save the naira from further debasement. Read More

NCC, FIRS Inaugurate Joint Committee to Boost Revenue in Telecoms Sector
The Nigerian Communications Commission and the Federal Inland Revenue Service have taken their collaboration further, by setting up a joint committee of senior and management staff of the two agencies towards the implementation of inter-agency strategies for enhancing national revenues in the telecommunications sector. Read More

IADC Tasks Operators on Skills Retooling to Improve Oil Production
The Chairman of the Nigerian chapter of the International Association of Drilling Contractors, Chuks Enwereji, has advised operators in the drilling sector to retool their skills so they can take advantage of the boom in the oil and gas sector. Read More

InfraCredit Guarantees Lagos Free Zone’s NGN 25 Billion Infrastructure Bonds
InfraCredit, a specialised infrastructure credit guarantee institution, has announced its guarantee of Lagos Free Zone Company’s NGN 20 billion 20-Year Series II Senior Guaranteed Fixed Rate Infrastructure Bonds Due 2042 (the LFZC Series II Bond) under a NGN 50 billion Debt Issuance Programme. Read More