Ethiopia
Ethiopian Investment Commission Joins the World Association of Investment Promotion Agencies
The World Association of Investment Promotion Agencies welcomed the Ethiopian Investment Commission as its official member. EIC stated that it would proactively engage with WAIPA and its member states in investment promotion, facilitation, aftercare, and advocacy works. Read More

Addis Ready to Host Made in Germany
Addis Ababa is ready to host a trade fair and conference on the trade and investment relations between German and Africa this week. Participants of this three-day trade fair and conference which will be held between March 2 and 4 will discuss ways to develop trade relations between Germany and Africa. Read More

Ethiopian Delegation Visits Headquarter of Alibaba Group in Beijing
Ethiopian Delegation led by Ahmed Shide, Minister of Finance of the Federal Democratic Republic of Ethiopia, visited the Headquarter of Alibaba Group in Beijing. Read More

Ethiopia Catalyzing Intra-Africa Trade, Regional Integration
Ethiopia is taking steps that catalyze intra-Africa trade and regional economic integration, Acting Executive Secretary of the UN Economic Commission for Africa (UNECA), Antonio Pedro lauded. Read More

Kenya
Regulator Rejects Payment of Electricity Bills in Dollars
The energy regulator has opposed Kenya Power’s plans to bill some electricity consumers in dollars amid concerns the utility will be compensated twice for exchange rate losses. Read More

Kenya Banks on Certification Forum to Boost Fresh Produce Exports
Kenya will play host to a regional meeting aimed at boosting exports of fresh produce and creating awareness on safety, which will draw participants from across Africa. Read More

Swiss Join New European Hunt for Kenya Investments
The battle for trade and investment openings in Kenya among European countries has gained impetus in the past three months with Nairobi playing host to at least four high-profile delegations during that period. Read More

KRA Locks Up KES 21 Billion Cash Flow for Firms on Tax Relief Suspension
The Kenya Revenue Authority (KRA) will deny businesses and individuals close to KES 21 billion (approx. USD 165 million) in liquidity after it suspended payment of tax refunds to pave the way for the audit of reliefs. Read More

Tanzania
Tanzanian Firm Signs Mining Supply Deal with Elon Musk's Tesla
Tesla, the American multinational automotive, artificial intelligence and clean energy company, has signed an agreement under which it will purchase Anode Active Material from Tanzania. Read More

Private Sector Credit Shoots to TZS 26 Trillion
Comercial Banks extended over TZS 26 trillion (approx. USD 11 billion) credit to the private sector in the period ending December last year, which is 23 per cent increase compared to TZS 12 trillion (approx. USD 5 billion) offered in the corresponding period in 2021, thanks to supportive monetary policy conditions. Read More

Right Policies Key in Bridging Digital Financial Gap
The government has been advised to design appropriate policies that will bridge the digital gap for the rural underserved population to access digital financial services. Read More

Farmers to Get 200 Tractors Through Leasing
EFTA, a Tanzania lease financing company, is planning to deliver 200 tractors starting this month to farmers across the country. Read More

Uganda
Presidents Museveni, Ramaphosa Hold Talks to Strengthen Ties
President Cyril Ramaphosa has described the state visit by his Ugandan counterpart, Yoweri Museveni, as a building block to strong political and economic relations between the two countries. Read More

Suit in France against TotalEnegies on Uganda oil project flops
A court in Paris dismissed a case filed by six French and Ugandan environmental and human rights groups seeking to halt construction of the 1,443km East African Crude Oil Pipeline from Uganda to Tanzania. Read More

5th 2023 Economic Mkutano
Routinely the cabinet, chaired by President Yoweri Museveni is deliberating on ways in which to further support growth of the private sector – an engine for Uganda’s economy. Read More

Algeria
From 13 to 16 March in Oran: 5th Oran-Invest-Expo International Exhibition
The 5th “Oran-Invest-Expo” International Industry and Export Fair will take place from 13 to 16 March at Oran Convention Center and will see the participation of more than 150 operators working in various sectors, the organizers said in a statement on Saturday. Read More

Foreign Investment: 29 Projects Registered in 3 Months
Since 1 November 2022, when the new investment law entered into force until 16 February more than 1,175 investment projects have been registered with the Algerian Investment Promotion Agency, said its director, Omar Rekkache. Read More

Tuesday's National Agricultural Conference: Highlighting the Performance of a Promising Sector
The National Agricultural Conference, scheduled for Tuesday at the Palais des Nations in Algiers, under the high patronage of President of the Republic, Mr. Abdelmadjid Tebboune, is an ideal opportunity to highlight the significant achievements made in recent years by the sector and which have earned Algeria a top ranking in Africa in terms of food security. Read More

Algerian-Chinese Cooperation: Development of Mining Projects on the Agenda
The development of mining projects, namely the projects for the exploitation of Ghar Djebilet iron deposit in the wilaya of Tindouf and the phosphate project in the east of the country, were again discussed in talks between Algerian and Chinese officials. Read More

Egypt
ATM Misr, King Long launch Bus Factory in Egypt at EGP 1 Billion
Alarabia for Trading, Manufacturing, and Transportation Services (ATM Misr) and China's King Long launched a factory for the productions of buses and other types of vehicles with investments worth EGP 1 billion (approx. USD 32.6 million). Read More

Egypt Aims to Produce 70 Percent of Wheat Locally by 2030
Egypt succeeded in increasing the land cultivated with wheat to 3,650,000 feddans in 2023, with an annual increase of 250,000 feddans, according to the Director of the Field Crops Research Institute and Head of the National Campaign to Preserve Wheat, Reda Mohamed. Read More

Egypt Reduces Customs Taxes on Mobile Phone Components to 2 Percent
The Egyptian Parliament approved the presidential decree no.67 for 2023, which concerns modifying the presidential decree no.218 for 2022. Read More

Egypt's Premier Addresses Concerns from Qatari Investors During His Visit to Doha
Egyptian Prime Minister, Mostafa Madbouli, met with the board members of Qatar Chamber of Commerce and Industry and Qatari Businessmen Association, to discuss investment opportunities in Egypt and address potential concerns. Read More

Morocco
US, Morocco, ACAO Join Forces to Boost Transnational Cooperation on Aviation Security
Marrakech hosted this last week a landmark conference on aviation security, with the event aiming to share expertise and best practices on the protection of civil aviation. Read More

Moroccan Airports Exceeded Pre-Pandemic Air Traffic in January 2023
Moroccan airports exceeded pre-pandemic levels of traffic in January 2023, welcoming nearly 2 million passengers. Read More

AgriEdge, OCP Africa Launch Farming Innovation Program to Promote Crop Protection
Agricultural solution provider AgriEdge and Moroccan phosphate giant OCP Africa launched the fourth edition of the Farming Innovation Program through a virtual conference that had more than 100 participants. Read More

Govt Moves to Protect Forex
The Malawi Government has moved to strengthen foreign exchange controls by, among others, meting out stiffer penalties to those involved in transfer pricing with the intention of moving forex out of the country. Read More

Grain Traders Explain Maize Stock Position, Rising Prices
Grain Traders Association of Malawi says they have a combined 10 000 metric tonnes of maize in their stock, with much of it in the Central Region. Read More

RBM Moves to Adopt Neutral Policy Stance
Reserve Bank of Malawi (RBM) says given the uncertainty surrounding the macroeconomic outlook, the central bank will adopt a neutral stance and react whenever necessary. Read More

Malawi Tipped on Recovery, Growth
The Malawi Economic Justice Network has reiterated the need for the country to capitalise on trade partnerships and integration in its quest to become a middle-income economy by 2030. Read More

South Africa
Ministers Now Have Power to Exempt Ports, Railways and Hospitals from Load Shedding
Government has issued new regulations as part of the national state of disaster for load shedding, which could make it easier to sell and generate power – and will give ministers the power to exempt some facilities from load shedding. Read More

South Africa Swings into a ZAR 23 Billion Trade Deficit
South Africa recorded a preliminary trade balance deficit of ZAR 23.05 billion (approx. USD 1.3 billion) in January 2023. Read More

Unemployment Rate Drops, but Remains Above Pre-Covid level
SA’s unemployment rate fell slightly in the fourth quarter, reaching the lowest level in two years, but at 32.7 percent the country’s jobless rate remains well above prepandemic levels. Read More

Load Shedding Hits Woolworths for ZAR 90 Million
Woolworths has joined other major retailers in South Africa in counting the costs of near-permanent load shedding on its bottom line. Read More

Zambia
We’ve Reduced Ndola-Lusaka Road Project from PF’s USD 1.2 Billion to USD 649 Million
Government has signed a 25-year concession agreement with Macro-Oceans Investment for the upgrading of the 327 kilometres Ndola-Lusaka dual carriageway and rehabilitation of the Luanshya-Fisenge-Masangano road. Read More

ERB Increases Petrol Pump Price, Maintains Diesel
Announcing fuel prices for the month of March, ERB Board Chairperson Reynolds Bowa said the pump prices of diesel and Kerosene have, however, been maintained. Read More

Cote d'Ivoire
Ethiopian Airlines to Resume Flights from Côte d'Ivoire To JFK
Continuing with its impressive international route expansion, Ethiopian Airlines is set to operate yet another route between New York and Côte d'Ivoire starting on23  May. Read More

Ghana
Government Says it will Redevelop 80 Acres of Land Near KIA into Commercial Hub
The government is planning to redevelop 80 acres of land around the Kotoka International Airport, stretching from Stanbic Heights, through Driver and Vehicle Licensing Authority Regional Office, to the Ministry of Defence, into a modern commercial hub. Read More

OMCs to Sign Undertaking to Reduce Prices Under Gold for Oil
All Oil Marketing Companies (OMCs) that purchase petroleum products under the Government’s Gold for Oil (G40) Programme will be required to sign an undertaking to guarantee a reduction in their prices at the pumps. Read More

Bono Regional Minister Calls on Management of Ghana Airports Company
The Bono Regional Minister, Mrs Justina Owusu-Banahene has called on the Management of Ghana Airports Company. Read More

Ho Gets Ready, Commercial Airline to Resume Flight
The Volta Region­al capital, Ho, is undergoing facelift few days to hosting Ghanaians from all walks of life and delegates of international commu­nity to the 66th Independence Day celebration. Read More

Nigeria
President Buhari Congratulates Tinubu as the Winner of the 2023 Presidential Elections
Nigeria’s President Muhammadu Buhari has congratulated Bola Ahmed Tinubu as the winner of the 2023 Presidential Election. Read More

Tinubu’s Lead Excites Investors, Equities Rally NGN 467 Billion in Two Days
Foreign and domestic investors are swarming on Nigerian investment assets as emerging results of the weekend’s presidential election favoured the emergence of the former Lagos State Governor, Asiwaju Bola Tinubu as the next president of Nigeria. Read More

NGX, PAPSS Sign MoU on Cross Border Payments
Cross-border securities transactions across African capital markets yesterday received a significant boost as Nigerian Exchange (NGX) and Pan African Payments Settlement System (PAPSS) sign a Memorandum of Understanding (MoU) to integrate the payments system into the capital markets. Read More

Micro Pension Plan Membership Hits 89,327
The Micro Pension Plan membership is rising as more informal sector participants are realising the benefits of the plan. Read More