Ethiopia
EU, World Bank Ink 35 Million Euro Grant to Support Ethiopia’s PSNP
The European Union (EU) has signed a EUR 35 million (approx. USD 37 million) Grant with the World Bank, to be disbursed through the latter to support the Ethiopian Government’s rural Productive Safety Net Program. Read More

German Government Encourages More German Investment, Trade on African Continent: Vice-Chancellor
Ethiopian Ambassador Mukitar Kedir attended the 4th German African Business Summit in Johannesburg, according to Ministry of Foreign Affairs. Read More

China Grants Duty-Free Access to Ethiopian Products
China has granted duty-free access to over 1,000 Ethiopian products, according to the Ministry of Trade and Regional Integration. Read More

UNFPA Donates 10 Ambulances​ to Four Health Bureaus of Ethiopia
The United Nations Population Fund handed over today 10 high-spec ambulances procured with funding from the governments of Canada, Ireland, and Japan to four regions of Ethiopia.​​ Read More

Kenya
10th Annual Humanitarian Symposium to Take Place in Nairobi
The 10th Annual Humanitarian Symposium will take place in Nairobi, Kenya from 14-16 December 2022 under the theme “Advancing the outcome of Malabo Humanitarian Summit and Pledging Conference.” Read More

Taxpayers Face Billions in Pension Burden as Uptake of Hustler Loans Rise
Taxpayers are facing an escalation of the pensions bill running into billions of shillings following the government’s contribution to the mandatory long-term savings for borrowers on the Hustler Fund.  Read More

Mauritian Firm Eyes More Buyouts after Naivas Deal
Mauritian conglomerate IBL Group is stepping up its regional investments after recently acquiring a 26.32 percent stake in supermarket chain Naivas for USD 100 million. Read More

Kenya’s Best and Worst Paying Sectors Revealed
The highest proportion of Kenyans earning more than KES 100,000 (approx. USD 815) is working in the financial and insurance sectors, pointing to an economy with few well-paying jobs amid high unemployment. Read More

Rwanda
Women Dominate as Rwanda Votes EALA Legislators
Women account for six of the nine MPs that were elected by the Parliament to represent Rwanda in the east African Legislative Assembly (EALA). Read More

Kagame to Attend US-Africa Summit
President Paul Kagame is expected to join several African Heads of States and Government in Washington, for the upcoming US-Africa summit, his office confirmed. Read More

Kagame in Switzerland for Effective Development Co-operation Summit
President Paul Kagame is attending the Effective Development Co-operation Summit taking place in Geneva, Switzerland on December 12, according to a communique from the President’s office. Read More

Elections for Rwandan EALA MPs Underway
The plenary sitting of both chambers of Parliament, the Senate and Chamber of Deputies, is set to elect nine MPs to represent Rwanda in the East African Legislative Assembly. Read More

Tanzania 
TRA to Start Taxing Small Traders in Kariakoo
Tanzania Revenue Authority (TRA) has come up with a new campaign to intensify revenue collection in Kariakoo during the end of the year and festive season. Read More

BoT Assumes Control of Yetu Microfinance over Liquidity, Capital Inadequacy
The Bank of Tanzania (BoT) has placed Yetu Microfinance Bank under statutory administration starting Monday December 12, after the lender failed to meet capital and liquidity requirements. Read More

TARI to Release Disease Resistant Cashew Variety      
Tanzania Agricultural Research Institute, Naliendele Centre plans to release a new variety of cashew nut which is resistant to cashew leaf and nut blight disease. Read More

Local Investors Told to Seize Opportunities in Economic Zones
Local investors have been encouraged to take advantage of the opportunities provided by the Export Processing Zones Authority through the economic zones to establish industries and contribute to economic growth. Read More

Uganda
NWSC Records Rapid Growth in E-Water Payment System
National Water and Sewerage Corporation (NWSC) has said the e-payments system it launched in 2010 now collects UGX 45 billion (approx. USD 12 million) as monthly revenue. Read More

Uganda’s Oil Revenue Sharing Question
There are great expectations among the citizens and investors from the development of an oil refinery in Uganda. It is predicted to boost the region’s refining capacity and ensure a consistent supply of petroleum products. Read More

SMEs Should Focus on Adding Value to Agro Products that Have Proved Health Benefits
Small and Medium size businesses in agro processing have been advised to focus on products such as Hibiscus that have a competitive advantage because of their health benefits to an increasingly sedentary population. Read More

Emergency Plant Shutdown at Katosi Water Works
Water supplyto Mukono, Seeta, Parts of Namugongo, Kyaliwajjala, Kira, Nsasa, Bulindo, Sonde, parts of Mutungo, Bukoto, Naguru and Ntinda will be affected by work at the Katosi water plant. Read More

Algeria
State Land Protection, Urban Planning Act: President Tebboune’s Guidelines
President of the Republic, Abdelmadjid Tebboune, gave guidelines regarding the protection of State lands. Read More

Investments Raised to 10 Billion Dollars
The head of Turkish diplomacy emphasised the combining of the two countries' positions on the question of Palestine, stressing Turkey's support for Algerian initiatives on reconciliation between Palestinian factions. Turkey appreciates Algeria's role in promoting peace and stability in the region. Read More

Foreign Direct Investment: Advocating a More Attractive Policy
According to the Circle of Action and Reflection for Business, the reception of inward foreign direct investment in the Algerian economy is still lagging behind and has to catch up. Read More

30th Algerian Production Fair from December 13th to 24th
The Algerian Society of Fairs and Exports announced in a press release that the 30th National Production Fair will be held from 13th to 24th December at the Palais des expositions (Pins maritimes-Alger), with the participation of nearly 600 exhibitors representing the different sectors. Read More

Egypt
Egypt's Exports to East Asian Countries Increase 62.8 Percent in 2021
Total value of Egypt's exports to East Asian countries reached USD 6.6 billion in 2021 compared with USD 4.1 billion in 2020, recording an increase of 62.8 percent. Read More

Saudi Sovereign Fund in Talks to Acquire Egypt's United Bank for USD 600 Million
The Saudi Public Investment Fund is in advanced talks to acquire The United Bank, which is owned by the Central Bank of Egypt, in a deal that could be worth around USD 600 million, according to people familiar with the matter, Bloomberg reported. Read More

Egypt's Central Bank Issues EGP 14 Billion in T-Bonds
The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue EGP 14 billion (approx. USD 568 million) in treasury bonds. Read More

New Era Education, Bloom UAE & New Giza Development bring the renowned Uppingham School to Cairo
New Era Education announced today a strategic partnership with New Giza Development and Bloom UAE, to bring one of the leading schools in the United Kingdom to Cairo. Read More

Morocco
Economy Minister: Morocco-US Social Program Benefits 800,000 Moroccans
The Morocco-US social program Compact II is progressing at an “encouraging” rate, Morocco’s Economy and Finance Minister, Nadia Fettah said. Read More

British Company Chariot Reaches Agreement on Moroccan Gas Sales
British energy company Chariot announced that it and Morocco’s National Office of Hydrocarbons and Mines reached an agreement with the National Office for Electricity and Potable Water on key principles for long-term gas sales from the Anchois Gas Project. Read More

Towards a Greener Future: Morocco's BCP Receives EUR 25 Million in Funding
The European Bank for Reconstruction and Development is joining forces with the Green Climate Fund and the European Union to allocate a financing package of EUR 25 million (approx. USD 26.3 million) to Banque Centrale Populaire to support Morocco’s green transition and increase women's access to climate finance. Read More

Aeronautical Company Safran Inaugurates Photovoltaic Power Station in Casablanca
Safran Nacelle Morocco, a subsidiary of French aeronautic parts manufacturer Safran, inaugurated on Friday a new photovoltaic power station to supply its plant in Nouaceur province with green energy. Read More

Farm Inputs Distribution Delay Bothers Experts
Agriculture experts have expressed worry over continued delays in distribution of seed and fertilisers under the Affordable Inputs Programme, saying it will affect agricultural production, especially for maize. Read More

Mera Yet to Conclude Electricity Tariff Review
The Malawi Energy Regulatory Authority is yet to conclude review of the proposed electricity tariff adjustment as requested by Electricity Supply Corporation of Malawi and Power Market. Read More

Local Businesses Bleeding, World Bank Survey Shows
A recent World Bank Business Pulse Survey (BPS) has revealed that most local businesses are struggling, with many of them recording a significant drop in sales. Read More

MITC Upbeat on Enticing Investors
The Malawi Investment and Trade Centre (MITC), the country’s one-stop investment coordination centre, has touted strides it is making in attracting foreign direct investment into the country in cooperation with other entities. Read More

Mozambique
Irregularities in Tax Registration Hinder Access to Credit
Most small and medium-sized enterprises (SMEs) in Mozambique are not bankable due to irregularities in tax registration, a fact that hinders the quick growth of the business environment in the country. Read More

South Africa
Big Electricity Price Hike for South Africa – Decision Coming This Week
Energy regulator Nersa will make its decision on power utility Eskom’s 32 percent electricity tariff application this week. Read More

Government Preparing for Onslaught of NHI Legal Challenges
Minister Joe Phaahla says the Portfolio Committee on Health in the National Assembly has made significant progress to process the National Health Insurance (NHI) Bill after their work was paused due to the Covid-19 crisis. Read More

200,000 Square Metres of New Shopping Malls in South Africa
South Africa added over 200,000 square metres of new regional shopping mall space in 2022, showing an incredibly resilient retail market despite consumer spending being under pressure. Read More

Big Drop in Petrol and Diesel Prices Expected for January
South African motorists could see a huge drop in petrol and diesel prices in January 2023, with a major drop in global oil prices and a relatively stronger rand working in consumers’ favour. Read More

Zambia
Government Called Upon to Urgently Act on the Vedanta and KCM Impasse
A local Non-Government Organization has reminded the government that the more they delay in addressing the Vedanta Resources and Konkola Copper Mines (KCM) impasse, the more it is creating problems at the mine. Read More

Beeline Telecom to Launch Operations in January 2023
Zambia is on course to get its fourth mobile operator with Beeline Telecom to launch commercial LTE-based services by the end of January 2023. Read More

Government Calls on Proper Management of Mineral Resources in Mkushi
The government has called on Traditional leaders and private investors to ensure proper management of Mineral resources. Read More

Depreciation of the Kwacha Against Major Currencies Due to Low Foreign Income from the Mining Sector
Private Sector Development Association chairperson Yusuf Dodia has attributed the depreciation of the Kwacha against major convertible currencies to low foreign income from the mining sector arising from the current recession in Europe where most Zambia’s mining firms’ parent companies are headquartered. Read More

Cote d'Ivoire
Africa Finance Corporation Diversifies Shareholders with Equity from Côte d’Ivoire, Mauritius and AfricaRe
Africa Finance Corporation, the continent’s leading infrastructure solutions provider, announces a boost to its share capital following a combined USD38 million equity injection from the government of Côte d'Ivoire, through the Ministry of Economy and Finance; the government of Mauritius, via the National Pension Fund and National Savings Fund; and the Africa Reinsurance Corporation. Read More

Coastal West Africa Senior Study Group Final Report
Strategic Recommendations for Policies and Programs to Encourage Good Governance, Peace, and Stability. Read More

Côte d’Ivoire: Stakeholders of Catholic Education Encouraged to Rediscover Their Mission
“Education in Côte d’Ivoire at the service of evangelisation and integral human development” is the theme of a pilgrimage organised recently for Catholic education stakeholders. Read More

Ghana
The Unlicensed Operators Mining Limestone-Rich Krobo Communities 
For more than two decades, limestone miners in the Yilo and Manya Krobo municipalities have defaulted in the payment of royalties and concession rent, and as they do, they leave a trail of environmental degradation, poverty, and diseases. Read More

Ghana Government Reiterates Commitment to Quality Healthcare Delivery   
Mr Kwaku Agyeman-Manu, the Minister of Health, has reassured Ghanaians of government’s commitment to the delivery of quality and client-centred health services devoid of catastrophic financial harm. Read More

Free TVET Education is to Make Ghanaian Youth Globally-Competitive – Minister
Ms. Gifty Twum-Ampofo, a Deputy Minister in-charge of Technical, Vocational Education and Training says the Free TVET education is to make the youth of the country globally competitive. Read More

USAID Launches USD 35.9 Million Grant to Support Agriculture Market Systems in Ghana
The United States Agency for International Development (USIAD) has launched a USD 35.9 million grant package to support Ghana’s agriculture systems to ensure food security and improve the livelihood of about 200,000 individuals. Read More

Nigeria
Finally, Federal Govt Approves 5 Banks for Disbursement of Trapped USD 350 Million Vessels Intervention Fund
After withholding the Cabotage Vessels Finance Fund for 17 years, President Muhammadu Buhari, has finally approved the disbursement of USD 350 million Cabotage Vessels Finance Fund to local Shipowners. Read More

PenCom Yet to Receive RSA Mortgage Financing Application as Pension Assets Hit NGN 14.42 Trillion 
Three months after the National Pension Commission (PenCom) approved Guidelines on Accessing Retirement Savings Account balance for payment of equity contribution for residential mortgage by RSA holders, the commission has said it has neither received nor approved application from RSA holders to this effect. Read More

ARCON Says Skit Makers, Bloggers, Must Get Approval for All Digital Adverts
Nigeria’s advertising regulator, the Advertising Regulatory Council of Nigeria (ARCON), has mandated skit makers, social media influencers, and bloggers, among others to seek its approval before advertising any product or service online. Read More

NIS Opens Passport Desks at Airports for Diasporans
The Comptroller-General, of Nigeria Immigration Service (NIS), Mr Isa Jere has directed the immediate opening of passport desks in all international airports in the country to attend to Nigerians in diaspora coming home during the Yuletide. Read More