4 July 2022
Eastern Africa
Ethiopia Eager to Welcome Japanese Investment
African ambassadors based in France discussed cooperation with Japan ahead of the 8th Tokyo International Conference on African Development summit in Tunis. Read More

Ethiopian Shipping to Swap Two Fuel Vessels with One Big Cargo Ship
The Ethiopian Shipping and Logistics Service Enterprise plans to replace its two fuel-carrying vessels with a larger cargo vessel that has over 60 tons of carrying capacity. Read More

Dangote to Expand Cement Operations, Rejects Offer to Invest in Fertilizer Market
Dangote Cement is preparing to undertake an expansion project in light of the growing demand for cement in Ethiopia. Read More

Kefi Wins One Month Extension
The Ministry of Mines is granting another extension for Kefi Minerals to acquire equity capital for its gold mining project in Tulu Kapi, Oromia Region. It is a third extension made for the mining firm since last year, with the latest deadline being the end of last month. Read More

Kenya, Tanzania Trade Crosses KES 100 Billion as Suluhu Marks a Year in Office
Annual trade between Kenya and Tanzania crossed the KES 100 billion (approx. USD 847 million) mark for the first time in President Samia Suluhu's tenure in office, signaling improved ties between the two neighbouring countries. Read More

Used Car Prices Jump Up to 30 Percent in Three Months
Used car prices in Kenya have jumped by up to 30 percent over the past three months on weak shilling, scarcity of vehicles and rising shipping costs, pushing low-range types such as Vitz above the KES 1.2 million (approx. USD 10,000) mark. Read More

Top Firms Risk Auction over KES 240 Billion Unclaimed Assets
The State has handed the unclaimed assets agency more powers including property seizure of non-compliant companies in fresh efforts to collect an estimated KES 241 billion (approx. USD 2 billion) held by public and private entities. Read More

Tourism Earnings Increase by 47 Percent
Net tourism net earnings jumped 47 percent in the first quarter of this year on the easing of the slump that has hit the industry over the last two years. Read More

Women’s Right: A Key Driver of Rwanda’s Progress
When the BBC reported recently that women were being trained to drive electric-powered motorcycle taxis in Rwanda, many readers were surprised. Not only was this an innovative, environmentally conscious line of work, but it’s also one that many might not regard as a typically female profession. Read More

Meat, Alcohol, Sugar Prices Increase on New EAC Tax
The prices of popular products such as dairy, meat, alcohol, cereals, cotton, and textiles imported into the East Africa region are set to rise substantially after a newly raised tax charge took effect yesterday. Read More

AfCFTA Chief Drums for Economic Integration
African nations must work together to achieve economic integration as outlined in the African Continental Free Trade Area agreement, Secretary-General Wamkele Mene said. Read More

Mwinyi Lures Burundi Investors
Zanzibar President, Dr Hussein Mwinyi has invited investors from Burundi to come and invest in Tanzania as the government has taken various steps to create a business friendly environment. Read More

NBC Empowers Farmers with Tractor Loans
The National Microfinance Bank (NBC) has officiated its tractor loans service that will help farmers to easily acquire modern tractors to help them commercialize agriculture in the region. Read More

Business Community on Wins from Presidential CEO Forum
The Private Sector Foundation of Uganda is optimistic that the government will, over time, stimulate the business climate to a point where more firms can thrive. This assertion comes on the back of the second Presidential CEO forum hosted in Ntungamo in a bid to find ways of enhancing the economy. Read More

Indian High Commission Commends Uganda for Conducive Business Environment
Hundreds of Indians thronged Kampala Parents School grounds in Kampala to showcase their popular products in an event organised by the Indian Women Association. Read More

Team Uganda Wins Prize at Huawei Global ICT Competition
Uganda university students have won one of the top prizes at the recently concluded Huawei Global ICT Competition.  Read More
Northern Africa
FRA, UN Women Egypt Organise Seminars on Gender Equality, Enhancing Work Environment
Algeria said it reached a deal with three partners to increase prices of its natural gas exports, as Europe races to boost supplies from the North African country. Read More

National Bank of Egypt to Open its First Branch in South Sudan
The Financial Regulatory Authority and UN Women Egypt organised two seminars on gender equality and enhancing the work environment on 22 and 26 June. Read More

Al-Qamzi Developments Invests EGP 14 Billion in 204-Feddan SeaZen Project in North Coast
AL-Qamzi Developments announced the launch of its new project, SeaZen, which spans 204 feddans, with investments worth EGP 14 Billion (approx. USD 744 million). Read More

Raya Electronics Aims to Invest EGP 200 Million in 2H 2022
Raya Electronics, a subsidiary of Raya for Trade and Distribution, one of the companies of Raya Holding, aims to add 10 new branches with EGP 200 million (approx. USD 10.6 million) investments during the current year, bringing the number of Raya branches to more than 70. Read More

Amazon Egypt Provides Up to 60-Month Instalment Plans through valU
Amazon customers who are also valU customers will be able to select the BNPL payment method on Amazon Egypt store and choose their instalment plan, ranging from 6 to 60 months, without any down-payment.  Read More

Morocco to Host Roadshow in Seoul to Promote ‘Morocco Now’ Brand
Morocco will host a roadshow in the Republic of Korea to promote the “Morocco Now” brand with an aim of shedding light on the kingdom’s economic attractiveness and business-friendly climate. Read More

Survey: 77 Percent of Moroccan Adults Borrow from Family Instead of Banks
A recent World Bank report on financial inclusion has found that 77 percent of adults in Morocco prefer to turn to family and friends to borrow money instead of opting for bank services. Read More

Spain’s Binter Inaugurates Air Route Connecting Gran Canaria, Fez
Spanish airline Binter inaugurated its new air route, linking Gran Canaria in the Canary Islands and the city of Fez in Morocco. Read More

Silatech Contributes to Employment of over 700 Moroccan Youth
Silatech, an international socio-economic development non-profit organisation that connects youth to jobs and economic opportunities, announced a new milestone in Morocco with its partners; the Bill & Melinda Gates Foundation and EFE-Maroc. Read More
Southern Africa
World Bank Speaks on Commodity Prices
The World Bank says fiscal pressures from elevated global commodity prices may exert an upward push on expenditure and thus run counter to fiscal consolidation aims. Read More

Ecobank Engages Shop Owners over EcobankPay
Ecobank Malawi Limited has encouraged shop owners to use the institution’s multi-featured digital payment solution, EcobankPay. Read More

Fertiliser Price Hikes Worry Farmers
Farmers Union of Malawi says disruptions to global fertiliser supply chain and rising prices could negatively impact crop production and livelihood in the country. Read More

South Africa
NPA Targets Tegeta Shares in Optimum Coal Mine in Bid to Claw Back ZAR 3.4 Billion in State Capture Proceeds
The National Prosecuting Authority has applied to the Gauteng High Court to have shares valued at more than ZAR 3.4 billion (approx.USD 208 billion), owned by the notorious Gupta family's Tegeta Exploration & Resources, forfeited to the State. Read More

Potential Investors Line Up to Keep Tiger Brand’s Canning Business Open
Farmers’ consortium is confident it can meet the deadline set by SA’s largest food producer to save the factory, the lifeblood of the town of Ashton. Read More

Prices of these 15 Basic Foods are up Over 15 Percent from Last Year
The latest Household Affordability Index from the Pietermaritzburg Economic Justice & Dignity Group shows that the price of a basic household food basket is up by 13.6 percent year-on-year in June.  Read More
Economy Will Only Grow When Zambians Take Interest in Business – Mubanga
Minister of Small and Medium Enterprises Development Elias Mubanga says Zambia will develop much more when locals take a keen interest in the business. Read More

It’s Now Clear Debt Restructuring Isn’t as Simple as UPND Thought – Simumba
Economist Trevor Simumba says it is now clear that debt restructuring is not as simple as the UPND government initially thought. Read More
Western Africa
GACL to Reconcile McDAn’s Aviation Outstanding Debts—Transport Minister
Mr Asiamah said this in response to a question by Mr Samuel Okudzeto Ablakwa, Member of Parliament for Tongu North on steps the Ministry was taking to address purported instances of regulatory breaches by the McDan Aviation as contained in official communication from the GACL. Read More

Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in Big Partnership
Abanga Farms & Food Systems, a Ghanaian agricultural-based company, has taken delivery of the first consignment of top-quality beef from MEATCO, the Namibian meat producing and exporting company, to distribute in Ghana. It is the first of its kind between the SADC and ECOWAS regions.  Read More

Middlemen Not Cause of High Food Prices - GAWU
The General Secretary of the General Agricultural Workers Union, Edward Kareweh, has debunked claims by the head of the National Food Buffer Stock Company that the activities of the middlemen in the agricultural sector have created artificial shortage of foodstuffs in the country. Read More

Level of Work at Kumasi Central Market Impressive – Gifty Ohene Konadu
The National Coordinator of the Monitoring & Evaluation Secretariat at the Office of the President, Gifty Ohene Konadu, has said that she is completely overwhelmed with the level of progress of the Kumasi Central Market and other projects. Read More
C&I Explains Delay in Filing Financial Reports
The management of C&I Leasing has explained the temporary suspension of trading on its shares by the Nigerian Exchange as one caused by delayed regulatory approvals. Read More

Ariston Goes Renewable with Water Heaters, Saves 75 Percent Energy Cost
Considering the power situation in the country, Ariston, an operator in the thermal comfort industry, has introduced new water heater technologies that can save about 75 percent energy cost, into the Nigerian market. Read More

NIPCO Leverages on PIA, to Increase Investment in Petroleum Sector
To further enhance smooth distribution of petroleum products across the country, the Nigerian Independent Petroleum Company has unveiled its plans to increase its investment in the sector. Read More

How Sorghum can Reduce Pressure on Forex, by Nigerian Breweries
The Nigerian Breweries has advocated the need for the Federal Government to place sorghum as a focus crop under its ‘Anchor Borrower Programme’ given the growing demand and usage by many manufacturing companies in its production processes. 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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