13 February 2023
Eastern Africa
Investors Engaged in Industrial Park Aim to Add Value to Agricultural Products, Earn FOREX
Investors engaged in Bulbula Integrated Agro-Industrial Park said their ventures would add value to agricultural products and earn foreign exchange. Read More

More Than 110 million Quintals of Wheat Harvested in Half Year
Over 110 million quintals of wheat has been harvested during the first six months of this Ethiopian fiscal year, according to Ministry of Agriculture. Read More

Foreign Medical Service Mechanism Launched for Africans, Ethiopians with Local Currencies in Dubai
Alternative foreign medical service mechanism has been announced in Dubai for Africans, including Ethiopia by using their respective local currencies. Read More

Ethiopian Adds Xiamen, Shenzhen to Its Cargo Destinations in China
Ethiopian Cargo and Logistics Services, Africa’s largest network operator, has started two weekly freighter flights connecting Xiamen with São Paulo and Santiago via Addis Ababa. Read More

Ruto Fixes CBK Legal Hitch with Deputy Governor Appointment
President William Ruto has picked former Wildlife PS Susan Koech as the second deputy governor of the Central Bank of Kenya (CBK), fixing a double legal hitch at the banking regulator. Read More

Solar Supply to Power Grid Increases by 184 Percent
The amount of solar supplied to the national grid in the nine months to September increased by 184 percent to a four-year high, boosting Kenya’s commitment to run on a 100 percent clean energy network by 2030. Read More

Vivo Firm Grips on Kenya Market with Engen Deal
Vivo Energy Kenya, the biggest oil marketer in the country, will acquire a controlling stake in South Africa’s Engen under an Africa-wide multi-billion-shilling deal that will deepen its dominance of the local market. Read More

Airtel Set to Launch 5G Service in Select High-End Nairobi Estates
Airtel will introduce its fifth generation (5G) mobile broadband service in high-income neighbourhoods, which it says have the gadgets and purchasing power to benefit from the faster internet speeds. Read More

Majority of MoMo Borrowers are Youth–Credit Bureau
Young people between the ages of 18 to 25 considered as ‘Generation Z’ are the majority of MTN’s Mokash borrowers, according to TransUnion, Rwanda’s credit reference bureau. Read More

Rwanda to Connect 3,000 Schools to Internet by 2024
The Minister of ICT and Innovation, Paula Ingabire says about 3,000 schools that are not connected to the internet will have access to it by 2024 through financing from China Exim Bank and the World Bank. Read More

Government Happy with Execution of Community Projects
Mining activities in the gold rich Lake Zone regions of Geita and Shinyanga are making a profound impact on neighbouring communities, a senior government official said here at the weekend. Read More

DSE Turnover Jumps to TZS 2.7 Billion
The Dar es Salaam Stock Exchange (DSE) saw an increase in turnover last week as investors scooped up commercial banks’ shares in order to cash in on their [banks’] recently disclosed favourable financial results. Read More

BoT Governor Hails Financial Inclusion Drive
The Bank of Tanzania (BoT) governor, Mr Emmanuel Tutuba, is pleased with the steps the banking industry has taken to support the effort of the government to promote financial inclusion. Read More

Tanga Port’s Upgrade Nearing Completion
The renovation and upgrading project of the Tanga Port has reached 91 percent completion, with the Tanzania Ports Authority (TPA) forecasting that it would be completed in April this year. Read More

January Revenue Surplus Gives URA Hope of Meeting Year’s Target
Uganda Revenue Authority reports a surplus collection for the month of January 2023, giving hope of meeting the year’s target of UGX 25 trillion (approx. USD 6.8 billion). Read More

Fintech Firms Grow to 24
By the end of 2022, fintechs in Uganda had grown to 24, according to Bank of Uganda. Read More

AI Chatbot Gets Mixed Reviews in Uganda 
In recent years, artificial intelligence has made significant strides in revolutionising the way we interact with technology. Read More

Printing Corporation’s Profit Declines by UGX 2.2 Billion
Uganda Printing and Publishing Corporation recorded a 60 percent reduction in profit in the period ended June 30, 2022, according to the Auditor General’s report. Read More
Northern Africa
e-procurement portal enters into force next April

According to Mr. Fayed, “this e-portal will enable a better visibility of public spending.” He also pointed out that other projects are still being studied and put into practice, of course with the aim of rationalizing public expenditure, in particular the revision of subsidies. Read More

Ouargla, the investment El Dorado
Twenty-eight agricultural land titles were handed out to investors, at the initiative of the Office for the Development of Industrial Agriculture in Saharan Lands, in the presence of the wali. Read More

Banks Urged to Step Up Efforts to Finance New Projects
The governor of the Banque d’Algérie, BA, Salah Eddine Taleb, urged local banks to do more to finance new projects that create value. Read More

South Korea-Egypt Trade Hits USD 3.15 Billion in 2022, the Second Largest Amount Ever

According to the Cairo office of the Korea Trade-Investment Promotion Agency, South Korea-Egypt trade reached USD 3.15 billion in 2022, the second-largest in history after USD 3.17 billion in 2010. Read More

EU Commissioner to Visit Egypt to Discuss Global Energy Security
Simson will meet Tarek El Molla, Minister of Petroleum and Mineral Resources of Egypt, and Israel Katz, Minister of Energy of Israel, to further the implementation of the MoU which was signed in June last year. Read More

Al-Sisi Inaugurates Egypt Petroleum Show 2023
President Abdel Fattah Al-Sisi inaugurated on Sunday the sixth session of the Egypt Petroleum Show. Read More

Government Discusses Boosting Egyptian Food Exports
Egypt’s Prime Minister Mostafa Madbouly met on Sunday with Deputy Chairperson of the Federation of Egyptian Industries, Tarek Tawfik and Chairperson of the Food Export Council Hani Berzi to discuss boosting Egyptian food exports. Read More

Morocco’s Laprophan to Cooperate with China’s Sinopharm on Medicine Production
Rabat - Moroccan pharmaceutical company Laprophan signed a cooperation agreement with China’s Sinopharm, strengthening the link between the two countries in the sector. Read More

IMF Says Public Debt in MENA Region is a ‘Concern’
Head of the International Monetary Fund Kristalina Georgieva, said that public debt in the Middle East and North Africa region is a “particular concern,” with several economies in the region facing severely high debt-to-GDP ratios. Read More

Morocco Bans Vegetable Exports to West Africa to Stabilize Domestic Prices
Morocco imposed a ban on the exports of tomatoes, onions, and potatoes to West Africa in a bid to prevent vegetable prices from surging ahead of Ramadan. Read More

Digital Identity Solution ShareID Raises EUR 2 Million in Seed Funding
ShareID, a startup that pioneered an authentication solution for digital identity, raised EUR 2 million in seed funding. Read More
Southern Africa
Mkango Raises GBP 3.5 Million to Catalyse Near Term Mining and Recycling Milestones
Mkango Resources is pleased to announce that it has conditionally raised gross proceeds of GBP 3.5 million (approx. USD 4.2 million) via a placing and subscription totalling 28,000,000 new common shares without par value each in the Company at a price of 12.5 pence (approximately C$0.205) per Placing Share. Read More

South Africa
Big Jump in Petrol Prices Expected for March
Economists from the Bureau for Economic Research say that a weak rand and rising global oil prices are lining South African motorists up for a gut-punch at the pumps in March. Read More

Construction Industry Encouraged by Infrastructure Development Progress
South Africa’s construction industry is encouraged by the progress being made with the implementation of infrastructure projects and the plans to professionalise the public service. Read More

Inospace to Focus on Smaller Logistics Assets in Western Cape to Meet Demand
Inospace, SA’s largest owner and operator of last-mile logistics parks, has acquired two small logistics assets in the Western Cape for ZAR 28 million (approx. USD 1.6 million) to meet growing demand for space. Read More

Mr. Charles Kakoma Shares his Views on Tackling Food Inflation
“The high cost of living in Zambia has become a nightmare,” says Charles Kakoma, a senior citizen and an avid observer of the Zambian economy. “People are sensitive about food prices. Read More

Zambia Rejects China’s Call for World Bank to Join its Debt Restructuring – FT
Zambia’s finance minister rejected a call from China for the World Bank and other multilateral lenders to join a restructuring of the country’s debt and warned that delays were holding up the economy, the Financial Times reported. Read More

Zambia Rejects China’s call for World Bank to Join its Debt Restructuring
Zambia’s Finance Minister rejected a call from China for the World Bank and other multilateral lenders to join a restructuring of the country’s debt and warned that delays were holding up the economy, the Financial Times reported. Read More

ANDD Calls on Government to Address Negative Impact on Economy
The weakening of the Zambian Kwacha against the US Dollar is causing concern among advocacy groups in the country. Read More
Western Africa
Cote d'Ivoire
CCC and Côte d’Ivoire Chamber of Commerce and Industry Hold Fruitful Talks
The Ambassador of Côte d’Ivoire to Sri Lanka Eric Camille N’dry met with the Chairman of the Ceylon Chamber of Commerce Vish Govindasamy and the Chamber Secretariat on February 6, 2023. Read More

Ghana Hosts World Trade Centres Association General Assembly in April
More than 500 delegates from 100 countries will converge on Accra in April this year for the 53rd World Trade Centres Association General Assembly. Read More

Engen, Vivo Energy to Combine to Create Pan-African Energy Champion
Engen and Vivo Energy have announced a combination of their respective African businesses to create one of Africa’s largest energy distribution companies. Read More

GES is Recruiting Teachers with Diploma Certificates
The Ghana Education Service is recruiting qualified trained teachers with Diploma in Basic Education Certificate. Read More

Investments in WACCI Can Change Ghana’s Status as World’s Largest Importer of Tomato Seeds
A 2010 Working Paper by the International Food Policy Research, shows that all improved vegetable seeds that are planted in Ghana are imported. Read More

SEC, NAIC to Partner on Commodities Trading
Securities and Exchange Commission (SEC) has stated its readiness to partner the Nigerian Agricultural Insurance Corporation (NAIC) to further deepen the commodities trading ecosystem. Read More

Neimeth International Pharmaceuticals Raises NGN 3.67 Billion
Neimeth International Pharmaceuticals Plc has raised NGN 3.67 billion (approx. USD 8 million) from its existing shareholders after its rights orded full subscription. Read More

Lagos State’s Science Fair Spotlights Need for Tech Innovation
The Lagos State Research and Innovation Council (LASRIC) has organized the maiden edition of its science fair in Ikeja, with the theme: “Lagos in 2050: Imagine the Future”. Read More

Tizeti Begins Mass Recruitment to Fill Up New Roles Across Nigeria
Nigerian Internet Service Provider startup, Tizeti, has commenced mass recruitment to fill up new roles across Nigeria. Read More
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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