17 May 2022
Eastern Africa
Nation Secures Over 1 Billion USD From Coffee Export
Ethiopia has earned 1.014 billion USD from coffee export over the last ten months, Coffee and Tea Authority revealed. Briefing journalists Coffee and Tea Authority Director General, Adugna Debela said the performance registered has an increment of USD 400 million compared to the same period last year.
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WB, Ethiopia Sign 300 Million USD Financing Agreement to Assist Conflict-Affected Areas
A financing agreement amounting to 300 million USD was signed in the form of a grant between the Ministry of Finance and the World Bank in support of the reconstruction and recovery of conflict-affected areas of the country.
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Ethiopia's Exports to China Rise By 8 Percent in 2021 Over 2020 Figure
Ethiopia's export to China witnessed a steady growth amid booming bilateral trade and investment cooperation, according to Chinese ambassador to the country Zhao Zhiyuan, who recently said Ethiopia's exports to China increased by 8 per cent in 2021 compared with 2020 as new foreign direct investment from Chinese companies grew by 346 percent.
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Ethiopia, Kuwait to Finalize Labour Exchange Agreement
Ethiopia and Kuwait are set to hold talks to finalize a Labour Exchange Agreement that could open up job opportunities for Ethiopian workers in the Middle Eastern nation.
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State Seeks to Control Safaricom Call Charges
The rates that Safaricom charges rivals for terminating calls on its network are to be controlled by the government in a bid to protect the small telecommunications firms. Under new regulations that seek to bar dominant telcos from making profits from mobile termination rates, Safaricom will charge fees to cover only the costs of interconnecting calls from its competitors.
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Companies Pile Pressure on CBK Over Dollar Crisis
Manufacturing firms have piled pressure on the Central Bank of Kenya to sell more dollars into the market to ease the persistent shortage, which has prompted importers to place advance orders.
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Stock Investors to Pay CDSC KES 1.8 Billion Annually for Upkeep
Investors at the Nairobi bourse have been hit with a new KES 100 monthly charge on stock market accounts that could see the Central Depository and Settlement Corporation collect nearly KES 1.8 billion (approx. USD 15.5 million) a year.
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Nairobi Luxury Home Prices Rise 3.5 Percent
Luxury houses in Nairobi posted a 3.5 percent jump in price in the first quarter compared to a similar quarter last year amid a recovery in demand of the property market following a slowdown due to pandemic economic hardships.
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Rwandan Startup Listed Among World Economic Forum’s Technology Pioneers Of 2022
The World Economic Forum has unveiled a list of 100 innovative tech startups for its 2022 Technology Pioneers cohort which include a Rwandan firm, Ampersand.
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City Authorities Race to Fix Roads Ahead of Commonwealth Meeting
Kigali City authorities are racing against time to complete construction and repairs of roads ahead of the Commonwealth Heads of State and Government Meeting slated for next month.
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AfDB Sign 290.7 Billion Loan  for Water Project in Dodoma
The government has signed a loan agreement of USD 125.2 million from the African Development Bank to support a clean water project and sanitation services in the capital city Dodoma.
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Government: Maximise Use of Certification on Management Systems
Deputy Minister for Industries, Trade and Investment, Dr Exaud Kigahe has underscored the need for the Tanzania Bureau of Standard to maximize the use of the accreditation certificate on management systems.
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Tanzania Determines to Curb Cereal Post-Harvest Loss
Tanzania is out to tame cereal post-harvest loss by constructing silos in top maize producing regions. To walk the talk the country has already construct eight silos in Sumbawanga, Rukwa which will double the region storage capacity thanks to 67million US dollars project financed by Tanzania and Poland.
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TARI Equips Farmer with skill to Tackle Climate Change
As effects of climate change continue to derail performance of the agriculture sector within the country, the need to impart the farmers with useful agronomic practices becomes inescapable.
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Global Factors Impacting Uganda’s Economy: BoU
Officials from Bank of Uganda and the National Planning Authority have told Members of Parliament that the state of the economy is struggling because of global related factors. The officials were interfacing with the Committee on National Economy to discuss the state of the economy last week at Parliament.
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Turkish, Ugandan Trades to be Made
The Deputy Trade Minister of Turkey has pursued to broaden business with the Republic of Uganda. Riza Tuna Turagay publicized that there is plenty of chances to get more business done with Uganda while an interview amid Uganda-Turkiye Investment conference in Kampala.
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Northern Africa
Leaders of Türkiye, Algeria Vow to Deepen Trade, Defence Ties
Turkish leader Erdogan holds talks with his Algerian counterpart Tebboune in Ankara as both sides sign multiple accords and pledge to widen cooperation in trade, defence and other areas.
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Bahrain, Algeria Cooperation Stressed
Electricity and Water Minister Wael bin Nasser Al Mubarak received the newly-appointed Algerian Ambassador to Bahrain Abdulhamid Ahmed Khoja. The minister praised the relations that bind the two countries enhanced by cooperation in various development fields.
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Egypt’s PM Discuss Ways of Industrial Integration with Jordan, UAE
Egypt is discussing ways of achieving integration with the UAE and Jordan in industries based on investing in the competitive advantages of each country, said the Egyptian cabinet in a statement. 
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EIB Provides Egyptian Public, Private Sectors with EUR 3.35 Billion During 2 Years
The European Investment Bank provided EUR 3.35 billion (approx. USD 3.5 billion) in development financing to the Egyptian public and private sector in 2020 and 2021, according to Minister of International Cooperation Rania A. Al-Mashat.
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Egypt-US Trade Exchange Volume Reached USD 9 Billion in 2021, PM Tells GreenTech Business Delegation
Egypt’s Prime Minister Mostafa Madbouli said the trade exchange between Egypt and the US amounted to USD 9 billion in 2021 as he attended a meeting organized by the American Chamber of Commerce in Egypt.
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Egypt’s GDP Projected to Expand 5.6 Percent in FY 2022: FocusEconomics
Egypt’s economic conditions should have started H2 of fiscal year 2022 (January–June 2022) on strong footing, following robust economic performance in H1, according to preliminary national accounts data, FocusEconomics Consensus Forecast May 2022 highlighted.
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Tourism: Morocco's ONMT To Launch ‘Light Tour’ in Paris, London, New York
Rabat - Morocco’s National Tourist Office announced the launch of a “Light Tour” in Paris, London, and New York aimed at shedding light on Morocco as a tourist destination. 
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Over 300 Pesticides Pulled From Moroccan Markets
Morocco has pulled over 300 pesticides from its markets after 42 active ingredients were banned over concerns for plant health.
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Morocco’s Wheat Production Down by 69 Percent in 2022
Morocco’s cereal production in 2022 is set to reach its lowest level since 2008 due to the most severe drought to have hit the country in almost a decade.
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Gigantic Projects: Morocco's Bet for a Brighter Economic Future
Thanks to both its leading finalized and ongoing mega projects, Morocco is becoming a key, indispensable player in Africa's ever-shifting economic and geopolitical landscape.
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Southern Africa
Beit Trust Donates Surgical Equipment
Beit Trust has donated mobile C-arm surgical equipment to Beit Cure International Hospital in Blantyre. The equipment will assist during surgical and orthopaedic procedures.
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Firm Discovers Copper Deposits
African Minerals and Energy Holdings, a Malawian-based exploration and mining firm, has confirmed the discovery of copper deposits at Bundi in Karonga District. It has since said it plans to embark on large-scale copper mining and processing.
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TNM, Foundation in Economic Empowerment Deal
The Joyce Banda Foundation International has struck a deal with TNM plc to economically empower rural women and vulnerable groups through creation of business and employment opportunities.
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RBM Reins in on Banks
In this second and final instalment of his interview with Reserve Bank of Malawi Governor Wilson Banda, Ephraim Munthali tackles banks’ super earnings from non-interest income, misalignments in the foreign currency markets as well as money and capital market developments.
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Transport Evolution Mozambique Wraps Up with a Focus on Robust Regional Infrastructure
On 11-12 of May the second annual Transport Evolution conference was held at the port of Maputo. Attendants from across Africa gathered hear the newest developments regarding transportation and to network with fellow peers.
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South Africa
SARS is Going After 440 Taxpayers in South Africa Who Owe an Average of ZAR 50 Million in Debt
The South African Revenue Service is owed ZAR 190 billion by thousands of entities and individual taxpayers. This was revealed by finance minister Enoch Godongwana, who was responding to a Q&A in Parliament.
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Vodacom is Advancing 45 Percent of Prepaid Recharges in SA on Credit
It is somewhat remarkable that Vodacom’s core South African unit is advancing nearly half its total prepaid recharges, 45.2 percent, in the form of ‘credit’ using its Airtime Advance service.
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Pick n Pay Reports a Rise in FY Profit, Ups Dividend
JSE-listed retailer Pick n Pay has reported a 14.5 percent rise in headline line earnings per share (Heps) to 262.59 cents for the 52 weeks ended February 2022, a rise supported by the sales performance of its clothing and liquor business.
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Reforms Expected to Add a Million Jobs, Godongwana Says
Structural reforms in energy, telecommunications, water supply, transport and the visa regime that attracts investment, skills and tourism are expected to raise SA’s economic growth beyond 2 percent, says the National Treasury.
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US Commends FQM for Injecting USD 1.35 Billion in Copper Production
US Under Secretary of State for Economic Growth, Energy, and the Environment Jose  Fernandez has commended  First Quantum Minerals for injecting USD 1.35 billion investment in Zambia.
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Exciting Time for Mining
British High Commissioner to Zambia Nicholas Woolley says Zambia is likely to achieve its aim of increasing copper production by more than three-fold within 10 years if the new investments are anything to go by.
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ZRA Engages Cross-Border Traders
Zambia Revenue Authority has started engaging cross-border traders on various taxation matters after it has emerged that some goods that are smuggled do not attract customs and excise duties.
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Maize Production Drop Marginal
The 25 percent decline in maize production from 3.6 million metric tonnes last season to 2.7 metric tonnes this year is too marginal to exert pressure on food-related inflation, says economist Chibamba Kanyama.
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Western Africa
Cote D’Ivoire
Chad, Togo and Ivory Coast Vie for Blue Helmet Contracts
Amid Europe's gradual military withdrawal from Mali and as peacekeeping needs grow in the Central African Republic, three states are jostling for lucrative troop contribution contracts.
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NIB, AADFI to Lead Dialogue and Financing Solutions for Development
The National Investment Bank is to host senior management and experts in development finance across Africa in Accra from 23 to 25 May for the 2022 General Assembly of the Association of African Development Finance Institutions.
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Fidelity Bank Supports Two Institutions
Fidelity Bank has donated desktop computers to the Information and Communication Technology Centre of St. Mary’s Seminary Senior High School, Lolobi in the Oti Region of Ghana.
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Frightening Picture for Power Sector; Generating Capacities Inadequate; ‘Dumsor’ Looms – Report
The existing generating capacities will not be adequate to serve the projected demand with 18 percent reserve margin for any of the planning years, the 2022 Electricity Supply Plan for Ghana has revealed.
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Government to Anchor ‘Industrialisation Agenda; Via Establishment of Petrochemicals Industries – Alan
Government has revealed plans to anchor industrialisation in the country through the establishment of a petrochemical industry. According to the Minister of Trade and Industry, Alan Kyerematen, this is to support the local auto industry and add value to Ghana’s oil resources.
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Inflation Hits 16.82 Percent, Exceeds IMF’s 2022 Projection
The Consumer Price Index rose to 16.82 percent in April from 15.92 percent in March, latest figures from the National Bureau of Statistics have revealed.
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Dollar Hits NGN 600 at Parallel Market, Forex Supply Shrinks
The dollar exchanged at NGN 600 at the parallel market, heightening fears of a further devaluation of the nation’s currency. The rate at the Importers and Exporters Window was, however, NGN 415.75, widening the exchange rate spread to N184.25.
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Fuel Queues Persist in Abuja, Marketers Accused of Manipulating Pumps
Fuel queues persisted in the Federal Capital Territory as motorists waited for hours at filling stations to get the Premium Motor Spirit, PMS. Several filling stations were closed while some of those selling the PMS stopped mid-day on the excuse that the product had been exhausted.
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Rockefeller’s Gender Centre of Excellence Advocates Inclusive Financial Services for Women
The Gender Centre of Excellence at the Rockefeller Philanthropy Advisors has reiterated the need for more inclusive financial services for Nigerian women.
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