26 September 2022
Eastern Africa
Bona Fide Partnership between Djibouti, Ethiopia Prosper Logistics
The logistics handling and cooperation between actors in Ethiopia and Djibouti is stated to be growing every year as tremendous performances in the sector continue to be realized. Read More

Three Top Businesses in Ethiopia for US Companies
Below is an overview of the industries with the best prospects, big government purchases, infrastructure projects, and commercial opportunities as suggested by the US International Trade Administration. Read More

Vice President Gai Says Many Positive Developments in Ethiopia Benefit South Sudan
Many positive developments like tree seedlings plantation in Ethiopia also benefit South Sudan, Vice President Taban Deng Gai said.  Read More

Ethiopian Airlines Wins Multiple Prestigious Awards, Improves Ranking
Ethiopian Airlines wins multiple prestigious awards at SKYTRAX 2022 World Airline Awards and moves 11 ranks up in the world’s top 100 Airlines. Read More

NSSF Interest on Savings Hits Seven-Year High as Income Triples
Returns on monthly contributions made to the National Social Security Fund (NSSF) have beaten inflation after the State-run pension scheme paid the biggest interest on the retirement savings in nine years. Read More

Horticulture Exports Fall 10 Percent on China Restrictions
Horticultural exports declined 10.7 percent in the year to July, blamed on limited access to the Chinese market by avocado farmers due to stringent entry conditions. Read More

Bank Costs Fall on Digitisation and Higher Interest Income
Listed banks improved their efficiency in the first half of the year after keeping a lid on costs while enjoying higher profits in a recovering economy that supported higher lending and fee income. Read More

Lubricant Makers Want Raw Material Taxes Removed
Lubricant makers have asked the government to remove import duty on raw materials used to manufacture the product to allow them compete with importers. Read More

Trade is Steadily Rebounding after Covid-19 – Minister Ngabitsinze
Following the reopening of the Rwanda-Uganda border, trade between the two countries is picking up. However, global shocks like the pandemic and the Russia-Ukraine crisis still hinder economic recovery. Read More

Financial Players Tipped on Investment Promotion, Facilitation Law
Different players in the financial sector were equipped with knowledge about the new law on investment promotion and facilitation, to further advise new investors on the business environment and legal framework in the country. Read More

Global Firms Struggle to Get Quality Retail Space in Kigali
Low supply of quality commercial buildings in Kigali has kept many international brands from entering the market, making the economy miss out on the much-needed jobs and tax revenues. Read More

Tanzania, Saudi Arabia Vow to Promote Economic Development
Home Affairs Minister Eng Hamad Masauni has said Tanzania and Saudi Arabia have been working together to promote prosperity and economic development of two countries thanks to the excellent friendly relations and good cooperation for years. Read More

Preparations for Construction of Bagamoyo Port Underway
Tanzania Port Authority has revealed in Dar es Salaam that preparations for the construction of Bagamoyo Port are underway. Read More

VP Calls for Just Transition to Renewable Energy
Vice-President Dr Philip Mpango has said that Tanzania and the rest of Africa need a just transition from fossil fuels to renewable energy. Read More

Contractors Advised to use Certified Equipment
Contractors in the country have been counselled to use equipment certified by the Tanzania Bureau of Standards to make sure projects implemented meet the required standards. Read More

Ebola Outbreak in Uganda Spreads to Other Districts
An outbreak of a rare Ebola strain for which there’s no vaccine has spread to two other districts in central Uganda and a suspected case is being investigated in the capital, officials say. Read More

Private Wealth in Africa Set for USD 798 Billion Jump to USD 3 Trillion
Africa’s stock of private wealth is forecast to jump 38 percent to nearly USD 3 trillion over the next decade, with Mauritius and Rwanda witnessing the strongest growth. Read More

Uganda Takes EACOP Oil and Gas Fight to UN Assembly
The Ugandan government has taken the fight about the construction of the East African Crude Oil Pipeline-EACOP to the United Nations following last week’s resolution by the European Union-EU parliament. Read More

Mbarara Science University Develops New Organic Fertilizer
Mbarara University of Science and Technology has developed a new organic fertilizer. The Organic Fertilizer, I-Soft Organic Fertilizer was innovated and developed by students of the Faculty of Agriculture and Livelihood in collaboration with the Mbarara Grapes Farmers Association, and Mbarara Agricultural Research Development Institute. Read More
Northern Africa
Egypt Targets to Raise USD 6 Billion through Selling Stakes in State-Owned Companies before Mid-2023

Egypt aims to raise up to USD 6 billion, before June 2023, by selling stakes in state-owned companies, according to the Minister of Planning, Hala El-Said. Read More

Exports of Chemicals Sector Up to USD 5.714 Billion in 8 Months
The Chemical & Fertilizers Export Council said that the exports of chemical sector increased in the period between January and August to reach USD 5.714 billion, marking a rise of 31 compared with the same period last year. Read More

Eased Customs Clearance, Tax Return to Participants in Climate Summit
Finance Minister Mohamed Ma’eit has decided to form a committee, whose job it will be to ease customs clearance and value-added tax return to participants in the upcoming climate summit, which will be held in the Egyptian Red Sea resort city of Sharm el Sheikh in November. Read More

Egypt's Central Bank Issues EGP 21.5 Billion in T-bills
The Central Bank of Egypt on behalf of the Ministry of Finance, is set to issue EGP 21.5 billion (approx. USD 1.1 billion) in treasury bills. Read More

Prospects for Wind Energy in Southern Morocco and Northern Mauritania
Although energy has become a strategic factor in economic development, Morocco remains largely dependent on the international energy market, as it imports more than 90 percent of its energy needs. Read More

Casablanca Is Africa’s ‘Leading’ Financial Hub
Casablanca maintains its position as Africa’s leading financial hub, according to the Global Financial Centers Index. Read More

Consultations Under Way Between Egypt, Sudan on Ethiopian Dam
Arab League Secretary General Ahmed Abul Gheit said that consultations are ongoing between Egypt and Sudan from one side and international parties on the other to address the file of the Grand Ethiopian Renaissance Dam. Read More

Sudan is Facing Impending Hunger Crisis, WFP Says
Nearly 15 million people in Sudan are facing a hunger crisis, according to the UN World Food Programme (WFP) Representative to Sudan. Read More
Southern Africa
Lindian Resources to invest MWK 203 Billion in Rare Earth Mining
Lindian Resource Chief Executive Officer Alistair Stephens says the firm will invest over USD 200 million in the exploration and extraction of rare earths at Kangankunde mine in Balaka District. Read More

Monetary Policy Under Spotlight
Economic analysts say the lagged effects of the Covid-19 pandemic on the economy, depreciating exchange rate and inflationary pressures call for authorities to reflect on the architecture and conduct of the monetary policy. Read More

Pension Defaulting Employers Under Fresh Criticism
NBM Pension Fund, a subsidiary of National Bank of Malawi has condemned institutions not remitting pension, saying they are not caring about their employees’ future as well as the country’s development. Read More

South Africa
Eskom Starts Decommissioning Old Coal Plants
In October the 1,000MW Komati power station near Middelburg in Mpumalanga will become the first of Eskom’s old coal-fired fleet to shut down for decommissioning. Read More

Pound Falls to Lowest Level in 37 Years
Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain’s plan to borrow its way out of trouble, with spooked investors piling into dollars. Read More

CURA Partners with Afriwise to Help Companies Doing Business in Africa, Manage Compliance Risk
CURA has partnered with Afriwise to help businesses mitigate regulatory compliance risk and conduct their business processes with confidence. Read More

Govt Approves 190 Timber Concession Licences
Government has approved 190 timber concession licences out of 483 applications, but only in the small and medium scale categories. Read More
Western Africa
Ghana’s Public Debt Was 80 Percent to GDP During Covid-19 Pandemic; We’ll Help Restore Macroeconomic Stability – IMF
The International Monetary Fund (IMF) has reiterated that Ghana’s public debt increased from 65 percent to 80 percent of Gross Domestic Product during the period of the Covid-19 pandemic. Read More

Ghana Won’t Recognise Ukrainian Territory Forcefully Acquired by Russia – Foreign Minister
Ghana does not, and will not, recognise any Ukrainian territory that is unilaterally and forcefully acquired or dismembered from a sovereign entity, Madam Shirley Ayorkor Botchwey, Minister of Foreign Affairs and Regional Integration, has stated. Read More

Ghana Government Asked to Amend Law for Mining Companies to Pay Royalties Monthly
Civil society organisations and stakeholders in the mining sector have called on the Ghana government to enact a legislation that would compel mining companies to pay royalties on monthly basis instead of the quarterly payment. Read More

Oil Rises on Rebounding Chinese Demand, Geopolitical Risks
Oil rose as the prospect of higher Chinese demand and heightened geopolitical risks outweighed recession fears after a flurry of central bank interest rate hikes, including from the Bank of England. Read More

Investors Scurry for Banking Stocks as Global Selloffs Worsen  
Banking stocks were the most active and the largest representative group in the top gaining chart at the stock market as the global stock markets panicked over long-drawn effect of rising general prices on returns. Read More

New Capital Market Law Will Enhance Global Competitiveness, Says SEC
The Securities and Exchange Commission (SEC) has said that the passage of the Investments and Securities Bill 2022 would aid the functioning of the capital market as well as facilitate the on-going economic diversification in the country. Read More

FG, States, LGs Share NGN 673.137 Billion for August
The Federation Account Allocation Committee has revealed that NGN 673.137 billion (approx. USD 1.6 billion) was shared among the three tiers of government as federation allocation for August. Read More

Full Deregulation is Way Forward for Petroleum Sector, Say Oil Majors
Major oil marketers have called for the full implementation of the Petroleum Industry Act. Read More
Click Here to Subscribe to Our Newsletter
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.

Financial Times
Business Daily Africa
Daily Nation, Kenya
New York Times
Daily News, Tanzania

CNBC, South Africa
Independent Uganda
Daily News, Egypt
Sudan Commerce News
Sudan News Agency
Copyright © 2022 ALN, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp