12 September 2022
Eastern Africa
Slovenia Eyes Strengthening Investment Relation with Ethiopia
Ambassador Tomaz Kun Stelj, Slovenia’s Ambassador in Rome met with Ethiopian Ambassador in Italy, Ambassador Demitu Hambisa and expressed his country’s interest to invest to strengthen ties through investment. Read More

World Bank Affirms Commitment to Ethiopia
The World Bank Group reassures its commitment to support Ethiopia for the work of betterment of its citizens. Read More

ESLSE’s Jigjiga Vessel Marks New Record in Containerized Cargo
The Ethiopian Shipping and Logistics Services Enterprise (ESLSE) vessel sets a new record on containerized cargo shipment to Berbera Port. Read More

Adama Steel Completes Factory Expansion
Adama Steel factory, a private company located in Oromia region of Ethiopia, has completed its expansion project with investment of ETB 5.6 billion (approx. USD 106 million). Read More

EAC Eyes Transfer of Staff Benefits Across Region
Fear of losing pension and other social security benefits in home countries is holding back the East African Community (EAC) from reaping the full benefits of a common market protocol that allowed free movement of labour. Read More

Lawyer Goof Nearly Cost KRA Billions
A slip-up in court by a lawyer representing the Kenya Revenue Authority (KRA) nearly cost the taxman billions of shillings in tax refund claims tied to VAT Regulations published in 2017 that had opened floodgates for taxpayers to seek reimbursements. Read More

New KES 8 Billion Parliament Building Ready in Two Months
New MPs will wait for at least two months to use the Sh8 billion office block, the Parliamentary Service Commission (PSC) has said. Read More

UAE Topples India in Kenya’s Imports Race on Costly Oil
United Arab Emirates has leapfrogged India to become Kenya’s second largest source market after China on the back of soaring oil prices, official statistics show. Read More

New Packhouse to Strengthen Horticulture Value Chains in Rwanda
Garden Fresh, a Rwandan company specialising in export of fresh produce, has opened Rwanda’s first privately owned packhouse, a critical infrastructure linking the farm and the market. Read More

Over 200 Graduates Complete Custom and Freight Forwarding Program
At least 246 customs professionals have received the East Africa Customs and Freight Forwarding Practicing Certificate. Read More

Heineken Rwanda becomes BK Arena’s official beverage partner
Heineken Rwanda, on September 9, signed a Memorandum of Understanding with BK Arena to become its official beverage partner. Read More

Tanzania's Meat Exports Rise by 57 Percent to Reach TZS 6.5 Billion
Tanzania’s meat exports rose by 57 percent in August 2022 due to a rise in demand of meat in foreign countries as authorities enhanced the marketing of such products outside. Read More

Brighter Horizon in TZ’s Communications Landscape
There is a significant increase in the number of mobile money accounts, transactions and the value of the transactions in Tanzania, indicating a firm move towards financial inclusion, according to the latest communications sector statistics. Read More

Coast Region Open Doors for Investors
Coast Regional Commissioner Mr Aboubakar Kunenge has invited local and foreign investors to the region which is a strategic area for investment with potential infrastructures and friendly environment. Read More

Mwanamke Shujaa: 360 Food Vendors Take Path to Business Success
More than 360 women food vendors have been equipped to take their rightful place as equals in the economy through a partnership between Coca-Cola Beverages Africa in Tanzania and the Institute of Social Work. Read More

Funding for Tech Startups to Transform Africa’s Health Systems

Tech startups and other rapidly emerging innovation-driven businesses in Africa will have an opportunity to directly collaborate with continental leaders to transform healthcare systems during the second Africa health tech challenge, organizers said. Read More
Northern Africa
Egypt-ICF2022 Discusses Power of Innovation in Influencing Climate Agenda

The second edition of Egypt’s International Cooperation Forum (Egypt-ICF2022) shed light on the power of innovation in influencing the climate agenda and shifting productive patterns to complement and enhance mitigation efforts.  Read More

Egypt's Finance Minister, S.Korean Ambassador Discuss Bilateral Ties
Korean Ambassador to Cairo Mr. Hong Jin-wook, met with Egyptian Minister of Finance, Dr. Mohamed Maait on Sunday, September 11th, accompanied by representatives of the Korean community and Korean companies operating in Egypt. Read More

EBRD Supports Green Investments in Egypt's SMEs by USD 100 Million
The European Bank for Reconstruction and Development (EBRD) announced offering a loan to Banque Misr worth USD 100 million for on-lending to local small and medium-sized enterprises. Read More

Banque du Caire Joins the National Bank of Egypt and Banque Misr in a Strategic Partnership with IBAG, Western Union's First Agent in Egypt
Banque du Caire joins the shareholding of IBAG, Western Union's first agent in Egypt, after purchasing a stake from Al Ahly Capital Holding - the National Bank of Egypt’s investment arm and Banque Misr. Read More

Portal Traffics in Morocco Remain Below Pre-Pandemic Levels
After experiencing an impressive spike in the volume of portal operations at the end of 2020, Morocco’s portal activities are yet to bounce back from the COVID-induced recession as traffic at the end of 2021 remains way below 2020 levels. Read More

Morocco’s Gulf Allies Intend to Keep Fuel Prices High
While many in Morocco struggle to make a living amid high fuel prices that have affected the transport of most goods, Rabat’s allies in the Middle East are, as part of OPEC+, have committed to keep fuel prices at the current level. Read More

US State Department Lists Morocco Among Financially Transparent Countries
Morocco meets the minimum requirements for financial transparency, according to a report from the US State Department. Read More

US Congressman Randy Feenstra Calls for Cutting Morocco Fertilizer Tariffs
American Congressman Randy Feenstra is advocating for cutting tariffs on Moroccan fertilizer exports to the US, arguing that this would help bring down costs for American farmers. Read More
Southern Africa
Be Innovate, Transport Minister Dares Engineers
Minister of Transport and Public Works Jacob Hara has challenged local engineers to be creative to ensure that they are responsive to the country’s socio-economic development. Read More

Employees Owed MWK 28.7 Billion in Pension Arrears
Despite efforts to enforce time l y remittance on pension contributions, pension funds non-remittance continues to rise, a situation Malawi Congress of Trade Unions has described as worrisome. Read More

MWK 240 Billion Sudan Deal was Overambitious—Supplier
Ideal Group, which went into a USD 240 million annual food export deal with Trinity Holdings of South Sudan, has said the deal was overambitious as only goods worth about USD 1 million have been exported so far. Read More

South Africa
Perfect Storm Brewing for South Africa as Load Shedding Intensifies
South Africa’s plans to add 5,200MW of renewable energy to its grid faces pressure from a perfect storm of global events, which will push up prices and hamper progress. Read More

Billionaire wants to buy South African airports: report
South African billionaire Rob Hersov says he will approach the Department of Public Enterprises with ZAR 2 billion (approx. USD 116 million) to buy six regional airports owned by the government. Read More

Massmart Starts Shutting Unviable Game Stores
Massmart, subject to a full buyout offer from parent Walmart Inc, has begun shutting unprofitable and unviable Game stores across the country. Read More

Government to Delay the Payment of the First Eurobond Due This Month
The Zambian government is talking to its bondholders about postponing Eurobond payments due to the ongoing debt restructuring. Read More

Zambia Under Hakainde Hichilema: Welcome to the ‘Homegrown’ Dictatorship of the IMF and Finance Capital!
Satisfied that Hakainde Hichilema and his UPND friends in government mean business to carry Zambia forward towards complete loss of sovereignty from where Fredrick Jacob Titus Mpundu Chiluba failed, the IMF finally declared that Hakainde’s government is fit to be under its full financial and economic tutelage under its extended “Credit Facility” for three years at approximately USD 1.3 billion. Read More
Western Africa
E-levy Will Be a Very Influential Tax Handle Going into the Future – Dr. John Kumah
Deputy Finance Minister, Dr. John Kumah, says he is very happy Ghana succeeded in passing the E-levy. Read More

Ghana’s Enhanced Domestic Programme is Ready for IMF Negotiation – Dr. John Kumah
Deputy Minister of Finance, Dr. John Kumah, has disclosed that Ghana’s Enhanced Domestic Programme is ready for negotiation with the IMF which is expected to kick start possibly in the last week of September. Read More

Government Borrowed GHS 7.14 Billion Via T-Bills in August 2022
The Government of Ghana raised or borrowed GHS 7.148 billion (approx. USD 714 million) via the sale of Treasury bills in August 2022, about 39.70 percent more than its target. Read More

Speculative Structures on Mining Concession Hampering Economic Development in Ahafo Region
The Ahafo region could be losing out on business and employment opportunities to boost socio-economic development as a mining project in the area has stalled for a year now. Read More
Lawmakers Laud SEC on Fiscal Sustainability
The management of the Securities and Exchange Commission (SEC) has been commended on decisive steps taken in ensuring that it attains fiscal sustainability. Read More

Farmers Get NGN 17 Million Input, Others
A group, Barry Callebaut Nigeria, has kickstarted an initiative to reward and celebrate farmers who have demonstrated a high-level commitment in supporting sustainable cocoa farming. Read More

Nigeria Loses USD 250 Million Revenue Yearly to Disincentives in Agro-Export Produce  
Extortion, harassment and multiple charges from aviation and other agencies at the airport are causing Nigeria a yearly revenue loss of over USD 250 million. Read More

Hudson Sandler Appoints Ajufo West Africa Business Partner
International strategic communications and ESG consultancy Hudson Sandler has appointed Onyebuchi Ajufo as Partner in its West African business. Read More
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