6 May 2022
Eastern Africa
Ethiopia Plans to Export 100 MW Electric Power to South Sudan in Three Years
Ethiopia has agreed with South Soudan to export 100 MW of electric power to South Sudan over the next three years, quadrupling the target gradually, according to the Ethiopian Electric Power.
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IMF Drops Tough Stance on Kenya’s Fuel Subsidy
Kenyan officials resisted the push by the International Monetary Fund to scrap the fuel subsidy program that has seen the government spend KES 49.164 billion (approx. USD 424 million) to stabilize the petroleum prices.
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Private Sector Salaries Growth at 11-Year Low
Average earnings for workers in the private sector grew at the slowest pace in 11 years, as firms resumed hiring and kept a lid on wage costs in a recovering economy. 
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Economy Grows Fastest in 11 Years on Easing Covid Curbs
Kenya’s economy rebounded in 2021 to grow at the fastest pace in 11 years on the easing of Covid-19 restrictions which boosted recovery in key sectors excluding agriculture whose activities were hit by poor rainfall.
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State Pension Schemes to Follow Procurement Law
Retirement funds of State entities must follow the government procurement process after the Appeals Court rejected a bid to exempt them from the Public Procurement and Asset Disposal Act. 
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Rwanda Unveils USD 175 Million Urban Development Initiative
The second phase of the Rwanda Urban Development Project has been unveiled and is expected to provide basic infrastructures in secondary cities and address unplanned settlements and floods in the City of Kigali, among other interventions. 
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TIB Bounces Back to Profitability 
TIB Development Bank has come out of the red zone to post a profit, despite a declining net interest income by three times in three months to March.
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Govt, Taha in New Move to Increase Horticulture Exports to Over USD 2 billion
The government and a horticulture driver association, Taha, have forged a strategic partnership, in their latest efforts to unleash the hidden potentials of the sub-sector to earn the economy USD 2 billion in 2030. 
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Transporters in a Spin as Fuel Jumps Further
Another sharp rise in fuel prices has sent shock waves among transporters, who believe that recent fare increases do not make any business sense.
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Rostam, Axian Group to Invest TZS 1 Trillion to Expand Tigo and Zantel
The new owners of the local telecommunication companies Tigo and Zantel have outlined their future plans, revealing how they would invest over TZS 1 trillion (approx. USD 430 billion) to go rural. Read More

Central Bank Likely to Raise CBR
Bank of Uganda has said it is closely monitoring movements in commodity and energy prices, which continue to present heightened inflationary pressures. 
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Uganda’s Coffee Industry Eyes New Markets, Value Addition
Uganda’s coffee industry will seek new international markets for their products to reduce over concentration on traditional buyers to boost farmers’ income. Read More

NSSF Mid-Term Payments Reach UGX 400 Billion
Uganda’s National Social Security Fund has paid UGX 400 billion to 18000 eligible members for the mid-term access since the exercise commenced in March, the fund’s executive said. 
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Northern Africa
AD Ports Senses Hub Potential for Egypt
The Abu Dhabi group has entered into a joint venture to develop a terminal in Safaga Port on the Red Sea, with the aim of boosting Egypt’s hub capability.
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Sisi, Macron Discuss Ukraine, COP27, and Regional Security
Egyptian President Abdel-Fattah El-Sisi discussed with French President Emmanuel Macron developments in the Ukraine crisis as well as Egypt’s scheduled hosting of the 27th United Nations Climate Change Conference in November.
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Morocco-Nigeria Pipeline ‘Proceeding According to Plan’
The Morocco-Nigeria gas pipeline project is “proceeding in the right direction and according to the plans put in place by King Mohammed VI and Nigerian President Muhammadu Buhari. 
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Moroccan Phosphate Exports Nearly Double, Reach USD 2.46 Billion in March
Moroccan exports of phosphates and derivatives reached nearly USD 2.5billion at the end of March, recent data from the Foreign Exchange Office has shown. 
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Remittances to Morocco Rise to USD 2.3 billion in the First Quarter of 2022
Remittances from Moroccans living abroad reached more than USD 2.3 billion in the first quarter of 2022, according to Morocco’s Exchange Office. 
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Morocco’s Unemployment Falls by 0.4 Percent in First Quarter of 2022

Unemployment in Morocco has fallen slightly, compared to the data from the previous year. A 2022 quarterly report by the High Commission for Planning in Morocco shows a 0.4 percent decline in the country’s unemployment rate, compared to the same quarter of the previous year, reported Morocco’s press agency. Read More
Southern Africa
Stock Market Bullish in April
The Malawi Stock Exchange continues to build on the positive performance registered in the past months, having registered a positive return on index in the month of April 2022.
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Blantyre Motor Show Excites Dealers
Participants in the Blantyre Motor Show says its recent exhibition in Blantyre will promote the luxury motor industry in the country. Speaking during a motor show exhibition at Country Club Limbe in Blantyre, Mahindra Malawi sales and marketing manager officer George Livuwo said the motor show will help the customers to appreciate the wide range of vehicles on offer.
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Advance Income Tax Could Hurt Businesses
Finance and taxation experts have lamented the introduction of Advanced Income Tax law, saying it will hurt cross-border traders, especially those in small-scale bracket.
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Output Growth Accelerates to 33-Month High – Standard Bank Mozambique PMI
Growth in the Mozambique private sector economy soared in April, as sharp rises in output and new orders sent the PMI to its joint-highest since late 2015. Firms enjoyed a strong increase in demand that also led to improvements in confidence, hiring and purchasing.
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Correios de Moçambique: Liquidation of Post Office Under Way, AIM Report
The Mozambican Post Office has about MT 380 million (approx. USD 6 million), to compensate 560 workers who are being dismissed following the government’s decision last year to liquidate the company.
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Bicycle Prices Soar in Quelimane
Bicycles, the main means of transport in the Mozambican province of Zambezia, are increasingly expensive due to the demand generated by increases in the price of public transport.
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South Africa
Excellent Progress Being Made with Structural Reforms, Says National Treasury
Excellent progress is being made with the reform agenda of Operation Vulindlela, the joint initiative launched by the Presidency and National Treasury in 2020 to accelerate the implementation of structural reforms and support economic recovery post the Covid-19 pandemic, according to National Treasury.
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Takealot Launches Flagship Richmond Park Pickup Point in Cape Town
South Africa’s leading online retailer, has launched its new flagship collection facility in Richmond Park, Cape Town, a culmination of a multifaceted investment that brings together innovation, technological achievements and uniquely South African artwork, all under one roof.
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World’s Biggest Hydrogen Trucks Start Work at Anglo American
Anglo American unveiled the world’s biggest green-hydrogen powered truck at a platinum mine in northeast South Africa where it aims to replace a fleet of 40 diesel-fueled vehicles that each use about a million liters of the fossil fuel every year.
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South Africa Seeing a Big Jump in Covid Cases as A Fifth Wave Surges
The National Institute for Communicable Diseases recorded 9,757 new Covid-19 cases in South Africa on Thursday, 5 May, representing a 25.9 percent positivity rate.
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Zambia and Namibian Govt to Sign MOU for Gas, Oil Pipeline Construction
The Zambian and Namibian governments are next month expected to sign a Memorandum of Understanding for the construction of a Gas and Oil pipeline from Windhoek into Lusaka.
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Western Africa
Cote D'Ivoire
Côte d’Ivoire Terminal Takes Delivery of Yard Cranes
Côte d’Ivoire Terminal, a joint venture of Bollore Ports and APM Terminals, has received six yard gantry cranes for the second container terminal currently under construction at the Port of Abidjan. Read More

Oil production falls by 17 Percent
Crude oil production in the country declined by 17.7 percent from 66.93 million barrels  in 2020 to 55.06 million barrels in 2021.
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Ghana Link’s Nick Danso Adjei Picks 2 Awards at CEO Visionary Awards
The Executive Chairman of Ghana Link Network Services, Nick Danso Adjei has been awarded CEO of the Year and Entrepreneur of the Year at the maiden edition of the Ghana CEO Vision, Exhibition and Awards Night held at the Kempinski Hotel in Accra.
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CSOs Seek Broader Consultations on Energy Transition Policy
Two civil society organisations have called for broader consultations on the development of an energy transition policy for Ghana.
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Over USD 300 Million Worth of Gas Flared in 2 Years
The country lost 47 billion cubic feet of gas to flaring between 2019 and 2021, the African Centre for Energy Policy has disclosed.
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Nigeria made USD 565.5 Million From Oil in Q1 – NNPC
Nigeria made USD 565.5 Million in crude oil and gas export sales in the first quarter of 2022, according to data from the Nigerian National Petroleum Company.
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Nigeria, Nine Others Account for 75 Percent Global Gas Flaring – World Bank
The World Bank has said that Nigeria and nine other countries account for 75 percent of global gas flaring. The nine other countries include Russia, Iraq, Iran, the United States, Venezuela, Algeria, Mexico, Libya, and China.
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FG Hikes Electricity Tariff, Consumers Condemn Power Sector Privatisation
The Federal Government through its Nigerian Electricity Regulatory Commission on Thursday officially released different documents indicating the approved power tariff increase payable by consumers to various electricity distribution companies in Nigeria.
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EU-Nigeria Trade Rises by 25.8 Percent, Hits EUR 28.7 Billion
The trade volume between the European Union and Nigeria has increased by 25.8 percent to peak at EUR 28.7 billion in 2021. The EU’s imports from Nigeria stood at EUR 17.5 billion, while its exports were valued at EUR 11.2 billion, with the trade balance at EUR 6.4 billion in favour of Nigeria.
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