Ethiopia
Ethiopia’s Recent Diplomatic Outreach to Various Countries Commendable
The recent diplomatic outreach of Ethiopia to various countries is commendable, India’s Ambassador to Ethiopia Shetkintong said. Read More

ENDC Invites Armed Groups in Ethiopia for National Dialog
Ethiopia’s overseas investment, NOC Djibouti, has unveiled a modern service station worth over 200 million Djiboutian francs in Djibouti. Read More

Ethiopia’s Choke Mountains Ecovillage Among WTO Best Tourism Villages 2022
The World Tourism Organization (WTO), a UN specialized agency, has named Choke Mountains Ecovillage in Ethiopia among the Best Tourism Villages 2022. Read More

Ethio Telecom Senior Management Team Discusses with South Sudanese Officials
The senior management team of Ethio telecom, led by the CEO Frehiwot Tamru, paid a visit in South Sudan and held discussion with officials of the country on range of issues. Read More

Kenya
Kenya to Spy on Accounts of Ministers, Judges in IMF Deal
Kenya plans to track the financial dealings of high-ranking politicians, including the President, and their allies from next year in fresh commitments to the International Monetary Fund (IMF) aimed at preventing the country from being locked out of the global financial system for money laundering. Read More

Treasury Reveals Plan for Fresh KES 110 Billion Syndicated Loans
Kenya will borrow syndicated loans amounting to KES 110.7 billion (approx. USD 900 million) for budgetary support and replenish its dwindling reserves of dollars by end of June, a report by the International Monetary Fund (IMF) shows. Read More

Kenya Pushes for Ban on Radioactive Waste Imports 
The Kenyan government has renewed a push to ban the importation of hazardous materials, including radioactive waste into the country, in line with a continental pact to protect Africa’s borders from becoming a dumpsite for global manufacturers. Read More

Students with Above 400 Marks in KCPE fall 20 Percent on Lower Maths, Science Score
The number of candidates who scored 400 marks and above in this year’s Kenya Certificate of Primary Education (KCPE) dropped 20.36 percent compared to the previous test, weighed down by lower performance in Mathematics and Science. Read More

Rwanda
Over USD 300 Million to be Invested in Real Estate Project Near Kigali Golf Club
Local leaders have told residents living near the wetland that straddles Kigali Golf and Parliament premises to be ready for expropriation to pave way for real estate, recreational, golf expansion and a proposed five-star hotel project. Read More

Global Drone Firm to Establish Knowledge Hub in Rwanda
A new knowledge hub by US-based global drone firm Auterion, will establish its hub in Rwanda. Read More

Tanzania
Lands Ministry, NMB Forge Deal in Tax Collection
The Ministry of Lands, Housing and Human Settlements Development and NMB Bank have announced the formation of a strategic partnership to ease the collection of land rent and other levies through the lender’s payment channels. Read More

Car Assembling Factory Urged to Compete Regionally
The GFA Vehicle Assemblers Limited have been encouraged to participate in a quality competition organised by the Southern African Development Community. Read More

TBS Counsels Manufacturers on Standards
Manufacturers have been advised to comply with the country’s standards by ensuring quality and safety of the products, which they produce for domestic and regional markets. Read More

NBC Bond Starts Trading at DSE After Successful Sale
Investors can now participate in the National Bank of Commerce (NBC) bond, which was recently concluded, through the Dar es Salaam Stock Exchange (DSE) on which it was listed yesterday. Read More

Uganda
VP Alupo Calls for More Equitable Trade with China
Vice President Jessica Alupo has said Uganda will benefit more from its relationship with China if the wide trade deficit between the two countries is narrowed. Read More

Donors Withhold UGX 608 Billion Over Lack of Work Plans
Development partners withheld UGX 608.6 billion (approx. USD 167 million) due to externally financed development activities during November, according to the Ministry of Finance.  Read More

Isimba Revenues Lift Up UEGCL’s Performance
Uganda Electricity Generation Company posted a 24 percent or UGX 210.9 billion (approx. USD 58 million) revenue growth in the period ended June 2022, up from UGX 169 billion (approx. USD 46 million) registered in the same period last year plagued by back-to-back Covid-19 lockdowns. Read More

Algeria
Algeria's Non-Oil Exports Exceed USD 6 Billion at End of November
Algeria's non-oil exports exceeded USD 6 billion in the period between the beginning of the year and the end of November, the highest achievement in the country's history since its independence from France in 1962, Trade Minister Kamal Rizik said. Read More

Egypt
Calling for Restructuring Global Finance System One of Most Important Outcomes of COP27
“Calling for restructuring the global finance system to be fairer and more efficient in financing developmental and climate action is one of the most important outcomes of COP27 in Sharm El-Sheikh,” the UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, Mahmoud Mohieldin, said. Read More

Suez Canal Proposed Bill Aims to Alter Facility into Independent Fund
House of Representatives’ session sparked debate due to the discussion of a proposed bill on amending some articles of Law 30 of 1975 on the Suez Canal Authority system which calls for transforming the authority into an independent fund. Read More

CheckMe Acquires Doctor Online through Exits MENA in Another Boost to Egypt’s Healthtech
Exits MENA locks down the year with a new acquisition deal in the Egyptian healthtech industry, with CheckMe acquiring a majority stake in Doctor Online. Read More

Banque Misr, Banque du Caire, Misr Insurance Holding Group, Allianz Egypt Launch Real Estate Investment Fund 1
Banque Misr, in cooperation with Banque du Caire, Misr Insurance Holding Group, and Allianz Egypt, launched the Misr Real Estate Investment Fund 1, which will invest in commercial real estate assets with a periodic return, allowing a new investment mechanism in the real estate market. Read More

Morocco
Huawei’s Spark Program Promotes Innovation, Entrepreneurship in Morocco
The finals of Huawei's Spark program took place at the Tour Hassan Hotel in Rabat, with the participation of experts in the field of technology and Artificial Intelligence (AI) as well as Moroccan startups. Read More

State-Sponsored Forsa Program Funds Over 11,000 Moroccan Business Makers
The Forsa program, a state initiative to support business makers, granted funding to 11,200 Moroccan businesses, according to a statement from the Ministry of Tourism, Handicrafts and Social Economy. Read More

Morocco’s Central Bank Says Crypto-Regulating Draft Law Is Ready
The draft law regulating the crypto market in Morocco is “ready” and will be presented to the various stakeholders within the market in the following days, the Governor of Morocco’s Central Bank, Bank Al-Maghrib, announced. Read More

State-Sponsored Forsa Program Funds Over 11,000 Moroccan Business Makers
The Forsa program, a state initiative to support business makers, granted funding to 11,200 Moroccan businesses, according to a statement from the Ministry of Tourism, Handicrafts and Social Economy. Read More

Ministry, PPPC Set to Connect Free Internet in Public Places
Ministry of Information and Digitisation in partnership with the Public Private Partnership Commission is set to connect free Internet to public institutions under a USD 74 million (about MWK 77 billion) World Bank Digital Malawi Project. Read More

Maize Prices Rising Steadily, now at MWK 27 000 Per Bag
Consumers are still digging deeper in their pockets to afford a kilogramme of maize, which is fetching as much as MWK 543 in some produce markets. Read More

World Bank Speaks on Forex Measure
The World Bank says the mandatory sale of export proceeds re-introduced by the Reserve Bank of Malawi (RBM) in August 2021 should be phased out as soon as macro-economic situation improves. Read More

Consumers in Tight Festivities Spending
Consumers in the country are being forced to spend cautiously this festive season as the cost of living crisis continues to bite amid reduced purchasing power, Business News has established. Read More

SA Wheat Harvest Expected to be 1.6 Percent Lower Than Last Year
Farmers are expected to harvest 1.6 percent less wheat in the 2022 season compared with the previous season, the government’s Crop Estimates Committee said on Wednesday. Read More

TFG to Buy Street Fever Footwear Chain
TFG, SA’s largest clothing and homeware retailer, has made another acquisition, buying Street Fever, a footwear brand with 114 stores. Read More

Woolworths Offers Online Customers More Options with New Partnership
JSE-listed retail giant Woolworths has partnered with logistics company Pargo in a bid to strengthen its online delivery network. Read More

Vodacom Boss Says Load-Shedding Threatens SA’s Mobile Networks
Vodacom boss Shameel Joosub has joined other telecom operators warning the government of the dangers of escalating power outages in the country. Read More

Cote d'Ivoire
Signing of Japanese ODA Loan Agreement with Côte d’Ivoire
the Japan International Cooperation Agency signed a loan agreement with the Government of the Republic of Côte d’Ivoire in Abidjan, to provide a Japanese ODA loan of up to 15,000 million yen for the Food Security Emergency Support Loan. Read More

Ghana
Parliament Approves Reduction of E-levy rate to 1 Percent, Rejects Removal of GHS 100 Threshold
Parliament has approved an amendment to the Electronic Transaction Levy Act during the presentation of the 2023 Budget announced a reduction of the e-levy rate from 1.5 percent to 1 percent and wanted to remove the daily non-taxable threshold of GHS 100. Read More

STN Ghana Inducts New Members and Executives to Lead the Network
The Stanford Seed Transformation Network, Ghana Chapter has inducted 15 new members and executives to lead the Network at an event held at the Labadi Beach Hotel in Accra. Read More

Hubtel Extends its Operations to Ho 
Hubtel, the leading quick commerce, messaging, and digital payments provider has extended its services to Ho in the Volta Region. Read More

Unify Monetary System for Business Transaction
For the African continent to thrive and have a strengthened economy, there is the need for a unified monetary system for business transaction, the Chief Executive Officer (CEO) of Paxful, Ray Youssey, has said. Read More

Nigeria
Federal Government’s Biovaccines Nigeria to Commence Vaccine Production by Q2 2023
Biovaccines Nigeria, a joint venture between the Federal Government of Nigeria and May & Baker Nigeria, is set to commence the production of vaccines before the second quarter of 2023. Read More

Buhari Seeks Fresh NGN 819 Billion Loan, Domestic Debts Hit NGN 22.57 Trillion
Nigeria’s domestic debt rose to NGN 22.57 trillion (approx. USD 50 billion) as the Federal Government proposed a last-minute supplementary budget for the 2022 fiscal year. Read More

We Can No Longer Deliver USD 1.96 Billion Eastern Railway Corridor by May
The federal government said the pledge to complete the narrow guage Eastern railway corridor from Maiduguri to Port Harcourt before the end of the administration of President Muhammadu Buhari is no longer feasible. Read More

FG Seeks Expansion of Nigeria’s Software Sub-Sector
The Federal Government through the Minister of Communications and Digital Economy, Prof. Isa Pantami, has said that quality software development will be essential in expanding Nigeria’s digital economy. Read More