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18 July 2022
Eastern Africa
Ethiopia
Ethiopia, Kenya to pen Agreement to Combat Illegal Trade
Ethiopia and Kenya to sign simplified trade regime agreement to manage illegal cross border trade. Small scale trade along the Kenya- Ethiopia border is poised to thrive following bilateral negotiations between the two parties to agree on a Common List of products to be traded under the Simplified Trade Regime. Read More

Ethiopia’s Development Agenda Envisions Becoming African Beacon of Prosperity: Minister
Ethiopia’s current development agenda is rooted in the country’s vision of making Ethiopia an “African Beacon of Prosperity”–through the implementation of the ten-year development plan, Minister of Planning and Development, Fitsum Assefa said. Read More

Massive Harvest Forecasted for Coffee
Ethiopia’s coffee production is expected to flourish with highs of four folds in the coming harvest season as the rejuvenating initiative is said to reap benefits this season. Read More

City Council Approves over 100 Billion Birr Budget for Upcoming Ethiopian Fiscal YearThe Addis Ababa City Council has approved more than 100 billion Birr budget for the 2022/23 Ethiopian Fiscal Year. Read More

Kenya
Projects Spending hits Lowest Level in Uhuru Presidency
Government ministries, departments and agencies spent the smallest share of their budget on development projects in 11 months of the recently ended financial year, the lowest portion under the Jubilee administration. Read More

SRC, Governors fight over KES 2.3 Billion Exit Pay
The Salaries and Remuneration Commission (SRC) has opposed in court a bid by outgoing county governors and their deputies to pay themselves up to Sh2.3 billion annually in retirement perks. Read More

Judiciary to link 67 Courts to National Fibre Optic Hub
The Judiciary has started connecting 67 courts to the National Optic Fibre Backbone (NOFB) as it moves to automate its processes. Chief Justice Martha Koome said the connectivity is a milestone and a giant leap toward the realisation of the aims of the Judiciary’s automation and digitisation agenda. Read More

KQ suspends London Route Ticket Sales on Airport Crisis
Kenya Airways has suspended the sale of tickets from London to Nairobi, as pressure from the Heathrow crisis hits the national carrier. Read More

Rwanda
Jamaica, Rwanda partner on Key Initiatives to Strengthen Ties
Minister of Tourism Edmund Bartlett has revealed that a new memorandum of understanding has been reached between the governments of Rwanda and Jamaica. Read More

Morocco’s OCP Group Donates 15,000 Tonnes of Fertilizers to Rwanda
Morocco’s phosphate and fertilizer giant OCP Group has donated 15,000 tonnes of Di-ammonium Phosphate fertilizers to Rwanda, in a bid to help the East African country increase its farm productivity. Read More

Rwanda mulls Electric Public Buses to Cut Carbon Emissions
Rwanda says it is investing in transitioning from internal combustion engine buses to electric buses, a move expected to cement her ambition of curbing pollutant emissions from road traffic. Read More

Rwanda’s Multilingual Status creates Opportunity as Business Hub for Africa
As Kigali hosted the 47th l’Assemblée Parlementaire de la Francophonie (APF) which concluded on 9th July 2022, the conference was a timely reminder of the need to maintain and rebuild the usage of French in schools and in everyday life in Rwanda and cement the country’s status as a multilingual country. Read More

Tanzania
Minister hails TADB Efforts to Transform Livestock Sector
Minister for Livestock and Fisheries Mr Mashimba Ndaki has hailed the Tanzania Agricultural Development Bank (TADB) for concerted efforts in transforming and enhancing the livestock sector contribution to the economy. Read More

Revival of TBL Moshi Plant to Benefit Barley Farmers
Tanzania Breweries has unveiled its plan to revive its Moshi Malting Plant next year that halted its operations in 2017, a move geared to benefit barley farmers. Read More

NMB eyes Three Key Sectors with 9 Percent Interest
NMB Bank has urged farmers, fishermen and livestock keepers to tap loan opportunities offered by the lender after slashing interest rates to 9 per cent from May this year. Read More

Exim completes Acquisition of FNB Tanzania
Exim Bank Tanzania has officially acquired assets and liabilities of FNB Bank Tanzania as a continuation of the bank's commitment to expand its wings within and outside the country.  Read More

Uganda
Transport Costs in East Africa Community Choking Business
Private sector players in the region are accusing the East African Community (EAC) leaders of doing too little as the transport sector continues to suffer, allegedly from bad policies. Read More

Lawyer wants Nkumba, IUIU Represented on Law Profession Bodies
Lawyer Deusdedit Bwengye has petitioned the High Court seeking orders directing the government to include 13 law teaching universities on three statutory bodies, which make decisions about the progress of the legal profession in the country. Read More

UNRA suspends Nakiwogo-Buwaya Ferry Services for a Day
Uganda National Roads Authority-UNRA has announced the planned interruptions in the services of the Nakiwogo-Buwaya ferry today, Sunday. According to UNRA, the ferry will transport road construction equipment from Zzinga Island to the mainland via Nakiwogo, Entebbe. The equipment was deployed to carry out maintenance works on Zzinga island. Read More

WHO applauds Uganda for All Round Immunization Programme
The World Health Organisation, WHO has applauded Uganda for maintaining the numbers in the routine vaccination exercise despite the COVID-19 pandemic, which affected vaccination in many countries. Read More
Northern Africa
Algeria
Syrian-Algerian Business Council Established
Ministry of Economy and Foreign Trade issued a decision on establishment of Syrian-Algerian Business Council. Read More

Zim, Algeria enhance Ties
Algeria is committed to enhancing trade, investment and economic co-operation with Zimbabwe to match the two countries’ excellent political relations, the country’s Ambassador to Zimbabwe Mr Nourredine Yazid has said. Read More

Algeria to Deliver 4 Billion Cubic Meters of Gas to Italy Next Week
Algerian state-owned natural gas company Sonatrach will deliver next week 4 billion cubic meters of gas to Italy’s ENI, Algerian press has reported. Read More

Egypt
Egypt wins Position of Vice-President of International Organization of Securities Commissions
The Financial Regulatory Authority retained the position of Chairman of the Developing and Emerging Markets Committee of the International Organization of Securities Commissions for the next two years. Read More

Parliament approves New Law to Bypass 65 Percent of Fines and Interest on Tax Arrears
The House of Representatives approved a new law to bypass 65 percent of fines, delay interest and additional tax on arrears of taxes, customs and real estate tax, provided that the original tax is paid before the end of next August, according to Finance Minister Mohamed Maait. Read More

Egypt's Central Bank issues EGP 35.4 Billion in Treasury Bills, Bonds Sunday
The Central Bank of Egypt, on behalf of the Ministry of Finance, is set to issue EGP 34.5 billion (approx. USD 1.8 billion) in treasury bills and bonds on Sunday, 27 July. Read More

Morocco
US Lawmakers urge Biden to Lift Moroccan Fertilizer Import Duties
A group of US Republicans this week requested that US President Joe Biden use his authority to lift import duties on Moroccan phosphate-based fertilizers. Read More

King Mohammed VI recognizes Jewish Community as Part of Moroccan Culture
Moroccan King Mohammed VI recognized the country’s Jewish community last week as a component of national culture, in a statement by the royal palace. Read More

Morocco’s Monetary Market Is Gradually Recovering After Eid Al Adha
Days following the end of the Eid Al Adha vacation week, the Moroccan monetary market is gradually catching its breath, returning to the Moroccan Overnight Index Average equilibrium rates, according to Attijari Global Research. Read More

Morocco to Launch Rabat-Fez High-Speed Train
After launching the Casablanca-Marrakech-Agadir high-speed train, Morocco is now aiming to launch a new line linking the capital Rabat to Fez. Read More
Southern Africa
Malawi
Widening Fiscal Deficit worries World Bank
The World Bank has bemoaned Malawi’s widening fiscal deficit describing this as a key driver to Malawi debt, which is becoming unstatainable. Read More

SADC Bloc speaks on the Inga Dam Project
The 51st Plenary Assembly of the SADC Parliamentary Forum which ended in Malawi on Friday resolved that the construction of Inga dam is one way of addressing energy deficiency challenges in the region. Read More

South Africa
Switching Ideas on Plans for Eskom 2.0
There was outrage at energy & mineral resources minister Gwede Mantashe’s suggestion that the state should create another Eskom. But it is a rather better idea than many think, though in a completely different way to what I think the minister means. Read More

Sasol does not Expect Fuel Shortage as it Pauses Work at Natref Refinery
SA’s largest fuel producer, Sasol, has declared force majeure after delays in crude oil shipments shut down its Natref refinery but says at this stage it does not expect fuel shortages. Read More

Government says Situation ‘Dire’ as Nelson Mandela Bay runs Out of Water
The Department of Water Sanitation has warned of deteriorating water supplies in and around the Nelson Mandela Bay area, describing the situation as ‘dire’.  Read More

The Collapse of TerraUSD takes Two SA Scalps
Headquartered in the British Virgin Islands but managed out of Cape Town, Invictus Alpha and parent company New World Holdings have been placed in liquidation in the British Virgin Islands due, in large part, to excessive exposure to the collapsed Terra/Luna stablecoin. Read More
 
Zambia
Draft Policies that Benefit All-Mulenga tells AfCFTA
Commerce Trade and Industry Minister, Chipoka Mulenga has called on the Africa Continental Free Trade Area (AfCFTA) to craft the policies which will benefit all member states on the continent. Read More

AU challenges Member States to Produce Own Food
The African Union (AU) has called on member states to start producing fertilizer and farming inputs on the continent as opposed on relying on countries like Russia. Read More

Managing and Pricing of Minerals Critical-Kabuswe
Mines and Mineral Development Minister, Paul Kabuswe says the management and pricing of minerals on the African continent is critical for the continent’s realization of its benefit and prosperity. Read More

Reduced Budget Towards Agriculture worry OXFAM
Oxfam International has expressed concern on the reduced agriculture budgets for most African countries. Oxfam International Plan Africa Director, Peter Kamalingin told ZANIS in an interview in Lusaka on the sidelines of the 4th mid-year coordination meeting between the African Union, the Regional Economic Communities and the Regional Mechanisms that a total amount budget by 39 African countries dropped by 18 percent between 2019 and 2021. Read More
Western Africa
Cote D’Ivoire
Kakubo holds Bilateral Meeting Meeting with Counterpart from Côte d’Ivoire
Minister of Foreign Affairs and International Cooperation, Stanley Kakubo held a bilateral meeting with Minister for Foreign Affairs, African Integration and the Diaspora of the Republic of Côte d’Ivoire, Kandia Camara on the margins of the 41st Ordinary Session of the Executive Council of the African Union. Read More

French Armed Forces Minister visits Abidjan
The new French Minister of the Armed Forces Sébastien Lecornu continued his West African tour. He met Ivorian President Alassane Ouattara in Abidjan. Read More

Ghana
Prices of Petrol, Diesel, LPG to Go Down from 16 July
Prices of Petroleum products are expected to witness some decline from this weekend, with diesel expected go down by more than 11 percent. Read More

We’re Doing as Much as we Can to Revive Ghana’s Economy – IMF
The International Monetary Fund (IMF) has assured Ghana that it will move fast and do much as it can to support the country come out of the economic challenge it finds itself. Read More

Societe Generale Ghana partners Adansi Travels on "Travel Now, Pay Later" Loan
Societe Generale Ghana and Adansi Travels have announced the launch of a new offer that affords individuals the opportunity to travel across the globe without worrying about limited funds. Read More

TOR Owes Us GHS 4.6 Million – NPA CEO
Dr Mustapha Abdul-Hamid, the Chief Executive Officer (CEO) of the National Petroleum Authority, has informed the Public Accounts Committee of Parliament that the Tema Oil Refinery (TOR) owes the Authority GHS 4.6 million (approx. USD 568,000). Read More
 
Nigeria
Investors’ Wealth rises by 1.3 Percent Despite Salah Break
Despite the two-day public holidays declared last week to commemorate the Eid el-Kabir celebration, the domestic bourse halted its bearish streak as gains in Airtel Africa (+10.0 percent) lifted the All-Share Index and market capitalisation by 1.3 percent to close the week at 52,215.12 and N28.158 trillion (approx. USD 68 billion). Read More

Zenith Bank holds 7th Non-Oil Export Seminar
The seventh edition of the annual of the Zenith Bank International Trade Seminar will be held at the Civic Centre, Victoria Island, Lagos, and virtually. Read More

CIIN gets New President
The Chartered Insurance Institute of Nigeria (CIIN) has called on industry stakeholders to work together to enable the sector to maximise the untapped potential in the economy and raise the confidence level. Read More

IEI Anchor Pension Managers is now Norrenberger Pensions
The National Pension Commission approved the change of name for IEI-Anchor Pension Managers to Norrenberger Pensions. Read More
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