15 March 2023
Eastern Africa
Government Provides 21 Billion Birr Subsidy for Fertilizer
The Government of Ethiopia has subsidized 21 Billion Birr for the purchase of fertilizer during this Ethiopian crop-season 2015/16, according to Ministry of Agriculture. Read More

EIC, Pakistani Investors Sign MoU to Establish Pharmaceutical, Packaging & Industrial Park Development Projects
The Ethiopian Investment Commission and Pakistani Investors have signed a Memorandum of Understanding for the establishment of Pharmaceutical, Packaging, and Industrial Park Development projects. Read More

Africa Fintech Summit, African Media Agency announce partnership
African Media Agency and Africa Fintech Summit announce a strategic partnership aimed at increasing awareness about the fintech industry’s innovation in Africa and promoting the upcoming summit throughout the continent. Read More

Volocopter, SITA Launch Partnership for Vertiports IT Systems
Volocopter, the pioneer of urban air mobility, and SITA, the world’s leading IT provider to the air transport industry, have entered a partnership, with SITA selected as Volocopter’s preferred digital and IT systems partner for vertiports. Read More

Regional Bloc Revives Railway Linkage Plans
The Lake Region Economic Bloc has revived talks to build a railway line linking 14 counties in the region in efforts to boost trade and open up western Kenya. Read More

MPs Push State to Allocate KES 10 Billion for Food Reserves
Debt repayment of KES 50.9 billion (approx. USD 409.9 million) for the Standard Gauge Railway in mid-January coincided with the beginning of a major drop in Kenya’s foreign exchange reserves. Read More

Kenya Nuclear Plan to Cost Billions in Grid Upgrades
Kenya will be required to upgrade the current national grid if it decides to proceed with plans to set up nuclear power plants to supplement the growing energy needs of the country. Read More

Stanchart Wealth Unit Assets Rise to KES 148 Billion
Standard Chartered Bank Kenya grew its assets under management by 13 percent to KES 148 billion (approx. USD 1.1 billion) in 2022, helped by rising demand by Kenyans for alternative investments such as fixed income and mutual funds offered on the platform. Read More

Rwanda Welcomes Africa's First Mobile Vaccine-Production Units
Six mobile vaccine-production units developed by German pharmaceutical company BioNTech have arrived in Rwanda. Read More

Tourism Boss Rugwizangoga on Importance of Rwanda's Partnership with Bal
The Rwanda Development Board Chief Tourism Officer, Michaëlla Rugwizangoga, discussed the importance of Rwanda's partnership with the Basketball Africa League in terms of sports promotion and tourism. Read More

Commonwealth Day - Rwanda Supports Activities Aimed at Making India Green
The High Commission of Rwanda to India joined the Commonwealth family in celebrating the Commonwealth Day, on 13 March. Read More

Samia Forms Council to Oversee Food, Agriculture
President Samia Suluhu Hassan has formed a Presidential Food and Agriculture Delivery Council, which will be in charge of overseeing the country’s food and agriculture delivery compacts’ implementation. Read More

Next Budget Notches TZS 44.3 Trillion
THE government has tabled before the Members of Parliament, the proposed National Development Plan and the budget outlook for the 2023/2024, where it plans to collect over TZS 44.3 trillion (approx. USD 18.9 billion) for recurrent and development expenditures. Read More

BOT Extends Administration Period of Yetu Microfinance
The Bank of Tanzania has announced that it has extended the administration period of Yetu Microfinance by 30 days. Read More

BRAC Provides Entrepreneurship Equipment to 270 Girls
BRAC Tanzania has handed over various equipment for entrepreneurship activities to 270 girls that would enable them to become self-employed. Read More

Afreximbank, EIB Unveil EUR 200 Million Pharmaceutical Financing Scheme for Sub-Saharan Africa
The European Investment Bank, the world’s largest multilateral bank, and Afreximbank, the pan-African multilateral financial institution, have joined hands to finance healthcare and pharmaceutical manufacturing projects across sub-Saharan Africa to strengthen health resilience on the continent. Read More

COSASE Hands Securex Amenities Director to CID
The Commissions, Statutory Authorities, and State Enterprises-COSASE handed over Bob Kanaabi, one of the three Directors of Securex Amenities Uganda to the police over his involvement in the fraudulent acquisition of a lease for the Kampala Capital City Dispensary land. Read More

EC Gives Way for UNRA to Build Kampala Flyover
The Electoral Commission has finally handed over its former Jinja road premises to the Uganda National Roads Authority-UNRA to pave way for the implementation of the Kampala Flyover project and road upgrade in the area. Read More

Mbarara City USMID Roads Contractor Fails to Meet Deadline a Third Time
Mbarara City Council leaders have raised concerns about the failure of Multiplex to meet the deadline for the completion of road works in the city. Read More
Northern Africa
Algeria and Russia Multiply Strategic Partnerships

Algerian Minister of Energy and Mines Mohammad Arkab received a delegation from the Russian state-owned nuclear energy company Rosatom, led by its director of international affairs, Boris Arseev. Read More

Uganda Strengthens Cooperation with Algeria Through Seven New Bilateral Conventions
Ugandan President Yoweri Museveni has been on an official visit to Algeria. The two countries are strategic on the African natural resources map and hope to strengthen their mutual investments in various sectors. Read More

Increasing Production of Red Tilapia to Boost Food Security
Minister of Fisheries and Fishing Production Hicham Sofiane Salaouatchi said in Khenchela that "increasing the production capacity of Red Tilapia will contribute to strengthening food security". Read More

Egypt's Trade Deficit Decreases 54 Percent During December

Egypt's trade balance deficit decreased 54 percent during December on an annual basis, to record USD 1.93 billion, compared to USD 4.20 billion during the same month of the previous year, according to the state's statistics agency. Read More

Presidential Decree to Transfer Ownership of Misr Insurance Holding Company to Sovereign Fund of Egypt
The Egyptian President Abdel Fattah El-Sisi issued a presidential decree to transfer ownership of all shares owned by Misr Insurance Holding Company to the Sovereign Fund of Egypt. Read More

Egypt Awaits Disbursement of IMF Loan's 2nd Tranche
Egypt is looking forward to obtaining the second tranche of the International Monetary Fund (IMF) loan during the current month, as the date for the first review is on 15 March. Read More

EGX Ends Mid-Week Session in Semi-Collective Rise
The Egyptian Exchange (EGX) ended in a semi collective rise, losing around EGP 1.04 billion (approx. USD 33.6 million) of the market capitalization, amid foreign selling. Read More

Morocco’s Tomato Production to Return to Normalcy by Mid-April
As the cold snap that was sweeping through Morocco has finally come to an end, tomato production is expected to return to normalcy by mid-April, leaving growers with two-three months before the end of tomato season. Read More

Morocco, Spain to Cooperate on New Fisheries Agreement
In an upcoming meeting scheduled for March 20, the European and Moroccan Council of Ministers will discuss the termination of the current fishery agreement which expires on 17 July of this year. Read More

UM6P, 247Solar Sign Agreement To Collaborate on Green Ammonia Production
Mohammed VI Polytechnic University (UM6P) and US-based technology innovator 247 Solar have signed a Memorandum of Understanding, with the aim of collaborating on advancing green ammonia production. Read More

Legatum Prosperity Index: Morocco’s Education Lags Behind
Morocco’s overall ranking in the Legatum prosperity index slid by five places over the past two years, going from 91st place in 2020 to 96th in 2023. Read More
Southern Africa
MCTU Advocates Employees Safety
Malawi Congress of Trade Unions called on employers operating in non-essential services in all districts affected by Cyclone Freddy to temporarily suspend operations for safety of their staff. Read More

Lack of Funding Hinders Mining Company Roll Out
Minister of Finance and Economic Affairs Sosten Gwengwe says government is exploring other options to raise money for the establishment of the National Mining Investment and Development Corporation. Read More

Some Licensed IPPs Fail to Roll Out
Ministry of Energy says only four out of 28 independent power producers (IPPs) that were licensed in 2017 are operational, a development that has affected the country’s energy needs. Read More

FDH Group Releases MWK 100 Million Relief Package to Support Cyclone Victims
FDH Financial Holdings has unveiled a relief package amounting to MWK 100 million (approx. USD 95,000) to help government’s efforts in mitigating the impact of Tropical Cyclone Freddy in Blantyre and affected districts in the Southern Region. Read More

South Africa
South Africa to Celebrate World Consumer Rights Day
World Consumer Rights Day, marked, comes against the backdrop of several challenges South African consumers are faced with. Read More

Most Dams at Capacity, Adequate Bulk Water to Meet Demand
While various measures are being implemented to ensure the sustainable and reliable supply of water, government has appealed to consumers to reduce demand and prioritise paying their water bills to ensure that money is re-invested in infrastructure. Read More

Exponential Fintech Growth Boosts Homechoice’s Year-End Profits
JSE-listed investment holding company HomeChoice International has seen a significant surge in its fintech business thanks to the success of its buy now pay later offering PayJustNow, which has seen exponential growth since coming onto the scene in 2019. Read More

Transaction Capital CEO Sold 40 Percent of Holding in December
Little over three months ago David Hurwitz, CEO of Transaction Capital, sold 42 percent of his nearly four million shares in the group. Read More

ZRA Seals Loophole for Non-Compliant Suppliers
Lusaka Zambia Revenue Authority (ZRA) will now be checking for tax compliance on all suppliers of goods and services to Government and parastatals before any payment. Read More

Private Sector Gives Positive Growth Outlook
Stanbic Bank says business activity is pointing to a building growth momentum in the Zambian private sector, with output and new orders each increasing at sharper rates. Read More

World Bank, ZACCI Confer on Economic Matters
The World Bank Group has underscored the importance of sustainable private sector development in strengthening small and medium enterprises to promote economic growth. Read More
Western Africa
Cote d'Ivoire
Ghana, Cote d’Ivoire Move to Address Pollution of Bia, Tano Rivers
High-powered inter-ministerial delegations from Côte d’Ivoire and Ghana have met in Accra to find ways of protecting transboundary water resources, forest cover and land for mutual benefits. Read More

Infill Drilling at Fortuna's Côte d'Ivoire Project Progresses
Canadian precious metals mining company Fortuna Silver Mines is progressing infill drilling at the Sunbird deposit, at its Séguéla gold project, in Côte d'Ivoire, with the aim to increase resource confidence. Read More

African Media Agency and Africa Fintech Summit Announce Partnership to Promote Fintech Innovation in Africa
African Media Agency and Africa Fintech Summit are pleased to announce a strategic partnership aimed at increasing awareness about the fintech industry’s innovation in Africa and promoting the upcoming summit throughout the continent. Read More

Discussants at APRM Dialogue Rally Financial Support for Businesses to Leverage AfCFTA
An array of seasoned professionals selected across various sectors to deliberate on the National African Peer Review Mechanism Governing dialogue on corporate governance has called for support for businesses to leverage the African Continental Free Trade Area (AfCFTA). Read More

Expect Coupon, Principal Payments on Bonds in 48hrs – Finance Ministry Assures Bondholders
The Ministry of Finance has assured that bondholders whose coupon and principal payments matured on 6 February 2023 and 13 February 2023 will receive their funds within the next 48 hours. Read More

Goods Must be Checked, Validated by Sector Commanders – GRA to Importers
The Customs Division of the Ghana Revenue Authority has directed all importers to subject their goods deemed highly dutiable to the Sector Commander and other Quasi Commanders for checks and validation. Read More

Letshego Ghana Savings and Loans Granted Extension to Submit Audited Financial Statements
The Ghana Stock Exchange has granted Letshego Ghana Savings and Loans an extension to submit its audited financial statements for the year ended 31 December 2022. Read More

NUPRC Moves to Mitigate Awardees’ Funding Challenges
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed that it was aware of current funding issues faced by the recent winners of marginal oil fields in the country. Read More

OPEC Confirms Nigeria’s 1.3 Million bpd February Crude Oil Output
The Organisation of Petroleum Exporting Countries confirmed that Nigeria produced 1.3 million barrels per day of crude oil in February, in alignment with the country’s earlier self-reported data this month. Read More

Two African Banks Stake USD 16 Billion in Oil, Gas Projects
About USD 16 billion is being invested in oil and gas projects across Africa by the African Export Import Bank (Afreximbank) and the African Finance Corporation. Read More

FG Generates NGN 631.09 Billion Tax from IT Sector, Says NBS
Consumers and firms operating in the Information and Communication space paid NGN 631.09 billion (approx. USD 1.4 billion) as tax in 2022, data from the National Bureau of Statistics has revealed. 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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