24 May 2022
Eastern Africa
Ethiopian Company Eyes to be Hub for East Africa in Top Quality Cutback Bitumen
Kalub General Trading has expressed aspiration to be hub for East Africa in top quality Cutback Bitumen, according to Ministry of Foreign Affairs.
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Northern Corridor Complements LAPSSET, Ambassador Meles Says
The Northern Corridor that is adjacent to Lamu Port-South Sudan-Ethiopia-Transport (LAPSSET) complements the latter while providing Southern Ethiopia with more port options in the region, Ambassador Meles Alem said.
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Ethiopia Chairs Meeting of Africa’s Health Ministers in Geneva
Ethiopia has chaired the meeting of African Union Member State ministers of health held in the margins of the 75th World Health Assembly in Geneva, Switzerland.
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5 Firms Sign to Use Tele’s Modular Data Center
Ethio telecom signs agreement with five institutions to lease its newly launched modular data center. Previously, Amhara bank inked agreements with the telecommunications firm to use the center.
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Banks First Quarter Profits Up 25 Percent on Lending Spike
Banks earned a cumulative pre-tax profit of KES 57.3 billion (approx. USD 492 million) in the three months to March on increased lending that saw loans to the private sector grow at double-digits for the first time in six years as the economy recovers.
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NCA Targets KES 1.7 Billion Fees From Developers
The National Construction Authority (NCA) is seeking to collect fees amounting to Sh1.7 billion from real estate developers which accrued before the scrapping of the construction levy in 2017.
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Sasra Cuts Statutory Levy for New Saccos After Industry Talks
The saccos regulator has cut the proposed annual levy for non-withdrawable deposit-taking societies following opposition from industry players, reducing projected revenue by at least KES 55 million (approx. USD 472,000) in the first year.
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State Officers in Graft Probe to Lose Pay, Perks in Bill
State officers who are under investigation or have been charged with corruption will suffer loss of salary, allowances, and comfort of their offices until the conclusion of their cases if MPs approve new changes to the law.
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58 Percent of Kigali, Secondary Cities Residents Report Increase in Cost Of Living – Survey
A new survey has established that vulnerable households have reported that a decline in income, increase in the cost of living and loss of jobs between February 2020 and May 2021 due to Covid-19.
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CHOGM is a Platform for Rwandan Women to Learn, Share Experience - PS Batamuriza
The Commonwealth Heads of Governments Meeting (CHOGM) is around the corner, and so is the Commonwealth Women's Forum (CWF 2022), which is held in parallel with the biennial CHOGM. The forum will take place in Kigali between 20-21 June 2022.
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AgResults Recognises Competitor AchievementsThe Ag
Results Tanzania Dairy Productivity Challenge Project is fundamental in boosting livestock sector’s contributions to economic growth, the Minister for Livestock and Fisheries Mashimba Ndaki has said.
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TICTS Invests TZS 12.5 Billion for Equipment
Tanzania International Container Terminal Services (TICTS) has invested TZS 12.5 billion (approx. USD 5.4 million) and purchased three additional rubber-tyred gantry cranes (RTGCs) and one reach-stacker.
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KOICA Trains Zanzibar Auditors on Public Audit
The Korea International Cooperation Agency (KOICA) has undertaken two-week training aimed at exposing officials from the Office of the Controller and Auditor General of Zanzibar on public audit management
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PPDA Business Exposition 2022 Launched, to be Held in July at Kololo
The Public Procurement and Disposal of Public Assets Authority has in the bid to contribute to economic growth, connect businesses to effective procurement systems, and support local SMEs designed the PPDA Business Exposition 2022.
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Airtel Joins Huawei to Transform Uganda Through ICT
Airtel Uganda has joined Huawei Uganda and the Ministry of ICT and National Guidance in a campaign to improve Uganda’s service delivery and social and economic transformation through offering quality and affordable ICT services.
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Northern Africa
AOI’s Military Exports Jump 100 Percent After EDEX
Diaa Abdel-Fattah, head of the marketing sector at the Arab Organization for Industrialization (AOI), revealed that the authority’s exports amounted to about 40 percent of the total production, while military exports represented about 10% of the total exports during 2021.
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Sustainability Ranks Highest Among Egyptian CEOs’ Achievements: IBM Study
Anew IBM Institute for Business Value (IBV) study revealed that sustainability is rising higher on corporate agendas across the world as CEOs recognize sustainability as a business imperative and growth driver, with Egypt being no different.
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Al-Ahly Capital Holding, Suez Industrial Development Partner to Develop Integrated Industrial Zone in Abu Rawash
Al-Ahly Capital Holding, the investment arm of the National Bank of Egypt (NBE), signed a partnership and development agreement with Suez Industrial Development, a subsidiary of Orascom Construction, with the aim of developing an integrated industrial zone west of Cairo on an area of ​​2.2m sqm in the Abu Rawash area in Giza.
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Egyptian Official Indicates Top Sector of Interest for Private Sector to Implement PPP Projects
Director of Public Private Partnership Central Unit at the Ministry of Finance Atter Hannoura stated Sunday that the most sector of interest for the private sector to implement projects through public-private partnerships (PPPs) is wastewater.
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First Non-European Destination for Spanish Tourists
Morocco is the first non-European destination for Spanish tourists and is also the country with the largest number of African tourists in Spain in April of this year, according to Spain’s National Institute of Statistics
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Israel and Morocco are Tightening Their Business Relationship
Israel and Morocco have been engaging in increased business collaboration since December 2020, when the Israel-Morocco normalization agreement was signed, opening a world of opportunities between the two countries from direct flights to economic cooperation and innovation collaboration.
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Southern Africa
TC Excited with Tobacco Prices
Tobacco Commission (TC) chief executive officer Joseph Chidanti Malunga says this year’s tobacco prices are better despite the drop in the leaf’s output due to dry spell in the last growing season.
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Nocma Engages Fuel Transporters
State-run National Oil Company of Malawi (Nocma) has facilitated oil transportation agreements between its suppliers and four local transport associations to move fuel from Dar es Salaam to Malawi.
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Mozambique: VET Toolbox 2 Project ‘Capacitar Para Transportar’ Launched in Beira
The VET Toolbox 2 project for enhancing transport and logistics skills development was launched at the headquarters of the Beira Commercial Association, 17 May.
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South Africa
AfDB Working with Bank of America to Raise Funds for SA’s Just Energy Transition
The African Development Bank (AfDB) says it is working closely with the SA government and the Bank of America to raise as much as USD 27 billion to support the country’s just energy transition.
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Ending Joburg’s energy crisis will cost ZAR 26 Billion
Johannesburg is following the example of Cape Town to reduce its reliance on Eskom, whose load-shedding has been going on for 15 years, costing the country billions of rand in lost economic activity.
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Barloworld Considers a Separate Listing for Star Performer Avis
Barloworld is leaning towards unbundling its car and leasing business and listing it separately on the bourse as it struggles to find buyers for the unit, which was among the biggest casualties of the pandemic-induced travel restrictions.
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Ayo Dividends Near ZAR 1 Billion as ‘PIC Cash Pile’ Dwindles
Ayo Technology has declared an interim dividend of 35c per share despite the group reporting a headline loss of ZAR122 million (35.9c per share) on revenue of R859 million in the six months to 28 February 2022.
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Tourism has Potential to Grow Economy -Muhanga
The Ministry of Tourism Permanent Secretary, Evans Muhanga says there is a need for the tourism sector to grow so that it supports the country’s economic trajectory.
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IBZ Pumps MWK 500,000 to Boost Milk Production
INDO Zambia Bank (IZB), through its micro, small and medium enterprises scheme loan, has signed a ZMW 500,000 (approx. USD 29,000) credit facility with Mapepe Dairy Cooperative Society to help dairy farmers with affordable loans to grow their businesses.
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Western Africa
Cote D'Ivoire
Davos 2022: Cocoa Exporter Ivory Coast Plans to Become Global Chocolate Supplier, Says PM

The Ivory Coast has ambitions to sell chocolate made in the West African country around the world as the major cocoa exporter aims to increase revenue from its main commodity. Read More

Bank of Ghana Announces Rate Hike to Suppress Inflationary Pressure
Ernest Addison, Governor of the Bank of Ghana, announced this at a press briefing after the bank’s 106th Monetary Policy Committee meeting.
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Grains Development Authority Bill to Address Current Challenges of Food Fluctuations – MoFA
The Ministry of Food and Agriculture says the passing of the Grains Development Authority bill will address current challenges of food fluctuations in the country.
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Metropolitan Life Insurance Launches New Life Insurance Product
Metropolitan Life Insurance Ghana has launched a new life insurance product known as the Family Financial Wellness Plan.
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Capital Market Operators, Investors Meet in Accra to Discuss Measures to Deepen Market
The second edition of the biennial West Africa Capital Conference comes off tomorrow in Accra to discuss measures to deepen the Capital Market in the Sub-region.
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FG targets 90 Percent Capacity Performance from Rehabilitated Refineries
The Executive Secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote, has stated that about 400,000bpd is expected from the rehabilitation of NNPC refineries in Port Harcourt, Warri, and Kaduna using target performance of not less than 90 per cent of nameplate capacity.
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FIRS Explains Nigeria’s Rejection of OECD Tax Agreement
The Federal Inland Revenue Service (FIRS) has stated that Nigeria refused to endorse the Organization for Economic Cooperation and Development Minimum Corporate Tax Agreement because it does not serve the overall interest of the country.
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Dangote tasks sub-nationals on enabling environment to boost investment
President of the Dangote Group, Aliko Dangote has urged state governments to prioritise the creation of an enabling environment to attract more private sector investment.
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Government Approves Tax Reliefs, Other Incentives for Startups
The Federal Government has approved a plan to incentivise and further harness Nigeria’s digital innovation and entrepreneurship ecosystem.
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