20 June 2022
Eastern Africa
PM Abiy Visiting Various Development Projects in Hawassa
Prime Minister Abiy Ahmed, along with other senior government officials, is visiting various development projects in Hawassa town. Read More

Strong Monitoring, Evaluation Mechanism Key to Effective Utilization of Draft Budget: Planning and Development Minister
Putting a strong monitoring and evaluation mechanism in place is critical to effectively utilize the budget for the upcoming Ethiopian fiscal year, Planning and Development Minister Fitsum Assefa said. Read More

EU Special Representative, Justice Minister Stress Need to Enhance Positive Momentum in Ethiopia
The European Union (EU) Special Representative for Human Rights, Eamon Gilmore and Ethiopian Minister of Justice, Gedion Timothewos have underscored the need to strengthen the positive momentum in Ethiopia. Read More

Ethiopian Government’s Effort to Give Peaceful Solution to Conflict Encouraging: US Ambassador
US Charge d’Affaires Ambassador Tracy Jacobson said the Ethiopian Government’s efforts to give a peaceful political solution to the conflict and create unfettered access to humanitarian partners in the northern part of the country, are encouraging actions. Read More

US Rate Hike Inflicts Pain on Kenyan Investors, Firms
Aggressive interest rate rises by major central banks in the developed world are causing pain to Kenya’s businesses, households and investors through costly loans, losses at the Nairobi bourse and weakened shilling. Read More

Minimum Tea Price Boosts Top Quality Beverage Firms
The minimum tea price set by the government in July last year for produce from the Kenya Tea Development Agency has lifted earnings for other suppliers of high-quality beverage. Read More

KenGen to Ship in Electric Cars after Installing Charging Station
Kenya Electricity Generating Company (KenGen) has installed an electric vehicle charging station in Nairobi as the State agency joins other actors steering the push for e-mobility. Read More

New Fund Manager I&M Capital Assets Grow to KES 700 Million
Start-up fund manager I&M Capital has seen its assets under management rise to KES 700 million after bagging 45 high-net-worth clients since it opened its doors in July 2021. Read More

The Government of Rwanda has Successfully Raised USD 620 Million
The Government of Rwanda has Successfully Raised USD 620 Million through the issuance of a 10-year Eurobond, announced the Minister of Finance and Economic Planning Dr. Uzziel Ndagijimana. Read More

CHOGM: Traffic Advisory For 20 June 2022
As CHOGM events continue in the City of Kigali, some roads will again be reserved for delegates this Monday, June 20. Read More

Rwandafresh Packhouse Gets BRCGS Certification
Fresh produce exports from Rwanda including; fruits, vegetables and flowers have gained the much needed recognition enabling them to further penetrate and compete on the vast global market. Read More

Base-Butaro-Kidaho Road to be Tarmacked
Details coming in from Burera district confirm that the dusty road Base-Butaro-Kidaho is earmarked for upgrading into a tarmac highway to improve the economic potential of the areas connected to the road. Read More

Tanzania, Kenya Face Off over Maize Amid Shortage, Soaring Prices
Kenya has blocked dozens of trucks ferrying maize from Tanzania over quality concerns even as the country grapples with dwindling stocks and skyrocketing prices of the commodity. Read More

Transforming Tanzania’s Agriculture Sector by Developing Value Chains
Seeds of Gold had an interview with the Chief Executive Officer of Agricultural Markets Development Trust, Mr Charles Ogutu, who talks about how the development of market systems value chains can be of benefit to the country’s largest economic sector. Read More

Nyerere Bridge Nets TZS 67 Billion Since Inception Government
A total of TZS 66.86 billion (approx. USD 29 million) has been collected as charges for vehicles crossing the Nyerere Bridge since it started operations in 2016, the National Assembly in Dodoma heard. Read More

Legislators Suggest Ways to Raise Revenue Collections
Members of Parliament have suggested different means for the government to adopt to increase revenue collection and reduce expenditures. Read More

Digital Transactions Set to Change Consumer Behaviour for Good
NSSF in partnership with VISA and Centenary Bank unveiled the smartcard for its member, a first in Sub-Saharan Africa. Read More

Uganda Airlines Secures Landing at Guangzhou Airport
Uganda Airlines has secured departure and landing slots at the Guangzhou Baiyun International Airport as it prepares for the commencement of long-haul flights to the UK, Saudi Arabia and India. Read More

Uganda, Rwanda Trade Drops Sharply despite Open Border
Rwanda’s full reopening of its border with Uganda has not yet yielded the positive expected results of more flow of goods, even as there persist unresolved contentious issues between the two sides. Read More
Northern Africa
QBA Keen to Invest in Algeria’s Tourism and Real Estate Sectors
During their visit to Algeria, the Qatari Businessmen Association discussed with the Algerian Minister of Tourism and Handicrafts H E Yassin Hammadi, and Minister of Housing, Urbanization and the City H E Mohamed Tariq Belaribi the investment opportunities in the tourism and real estate sectors. Read More

Algeria Participates in Free Zones Exhibition in Misrata
The Algerian Agency for the Promotion of Foreign Trade has confirmed the participation of economic operators in the International Fair for Free Zones in Misrata, Libya. Read More

Algeria Tenders to Buy Nominal 50,000 Tonnes Soft Milling Wheat, Traders say
Algeria's state grains agency OAIC has issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said.

Fintech Egypt, GIZ Egypt, AfricaGrow, and Changelabs Launch
Cairo will host the first Egyptian Venture Capital summit, under the title of: (Egypt: Your Investment Gateway to Africa & the Middle East Venture Capital), in partnership with GIZ Egypt on behalf of the German Development Cooperation, AfricaGrow Fund and organized by Changelabs, and through which the FinTech & FinTech-enabled sector is under the auspices of H.E. Mr. Tarek Amer, Governor of the Central Bank of Egypt. Read More

Proposal to Provide Mortgage for Under-Construction Units Stimulates Local Market, but Needs Egypt's CBE Support
The value of finance provided by mortgage finance companies amounted to USD 431 million in 2021 and reached nearly USD 213 million in the first quarter of the current year. Read More

EU Signs energy Deal with Egypt and Israel to Wean Itself Off Russian Gas
As Europe scrambles to wean itself off Russian oil and gas and tries to confront Russia for its use of energy to blackmail European countries, the EU signed in Cairo last Wednesday a Memorandum of Understanding with Egypt and Israel, aimed at using the energy potential of Eastern Mediterranean to cover the shortfall in energy supplies to Europe. Read More

Saudi Crown Prince to Visit Egypt June 20 on Regional Tour
Saudi Crown Prince Mohammed bin Salman will visit Egypt on June 20 as part of a regional tour that includes stops in Jordan and Turkey, two diplomatic sources said. Read More

Only 1 Percent of Moroccans Use Digital Remittances Tools Despite Low Cost
A recent study found that 60 percent of Moroccans prefer local products over foreign brands, while the remaining 40 percent expressed opinions divided between indifference and favoring foreign products.  Read More

Moroccan Digital Transition is Lagging, 98 Percent of Transactions in Cash
The latest MobileRemit Africa index, issued by International Fund for Agricultural Development  on 16 June has established that the emergence of new mobile wallets in Morocco, the shift of consumer behavior in favor of digital payments during the pandemic, and the government’s digitization efforts have not necessarily improved Moroccans’ attitude to digital transactions. Read More

Starting 1 July Morocco Will Impose New Import Tariffs on All Online Purchases
In a bid to tackle unfair competition and crack down on what it describes as an illicit trend of online shopping, Morocco’s Administration of Customs and Indirect Taxes announced the decision to impose by next month new import tariffs on all products purchased online from abroad. Read More

Morocco’s Insurance Provider Saham Changes Name to Sanlam
Saham, one of Morocco’s leading insurance providers, has officially changed its name to that of its majority stakeholder company Sanlam, a South African insurance provider. Read More
Southern Africa
Fresh Calls for Govt to Dilute Stake in Sunbird
Minority shareholders in Sunbird Tourism revived calls for government to reduce its shareholding in the hotel chain to attract new investors to boost capital for infrastructure projects. Read More

Treasury Opens Fiscal Year with MWK 127 Billion Deficit
Treasury recorded an MWK 127.1 billion (approx. USD 124 million) deficit in April, the first month of this fiscal year, a rise from MWK 41.2 billion (approx. USD 40 million) recorded in March, figures from the Reserve Bank of Malawi show. Read More

Rural People Not Aware of Malawi 2063 - NPC
National Planning Commission (NPC) director general Thomas Munthali says most rural-based people are not familiar with the aspirations of Malawi 2063, the country’s long-term development plan. Read More

Maize Prices Remain Volatile, up 12 Percent
Maize retail prices continue rising despite this being the harvest season, increasing by an average of 12 percent in May to K204 per kilogramme (kg), International Food Policy Research Institute (Ifpri ) data has shown. Read More

South Africa Planning to Launch a Marketplace in South Africa
Amazon is reportedly planning to launch a marketplace in South Africa that will compete against Takealot, Makro, and other online retailers. Read More

Charts Showing African Startups’ Resilience Amid Global Chaos
Africa’s technology-dominated startups will continue to attract investment, even if at a slower pace, following record venture capital funding last year. Read More

South African Rand Firms Against Dollar in Early Trade
South Africa's rand firmed against the dollar early on Monday, as investors continued to assess risks to the economy from tighter U.S. monetary policy following the Federal Reserve's biggest interest rate increase in a quarter of a century. Read More

Nova Continues to Flog Properties
The Nova Property Group continues to sell underlying investment properties and today barely has a handful of income-generating properties left in its portfolio. Read More
The World Bank will Provide Funding Amounting to USD 275 Million to Zambia over the Next Three Years
Finance and National Development Minister Situmbeko Musokotwane has said that the World Bank will provide funding amounting to USD 275 million to Zambia over the next three years after the IMF Supported Programme is approved by the IMF Board. Read More

Full Disclosure Need, Zambians Should be Given an Opportunity to Scrutinize the IMF Programme-Mwilima
Fight Inequality Alliance Zambia National Coordinator Lutangu Daisy Mwilima has demanded the full disclosure of the IMF programme to give citizens an opportunity to scrutinise it. Read More

Government Should Consider Importing Crude Oil from Russia
Copperbelt-based economist Chikabala Kaleta has said the Government should consider importing crude oil from Russia as a way of stabilizing fuel prices. Read More

Govt Signs Hosting AU Summit
Government has signed a host agreement of the Fourth African Union (AU) Coordination Summit with the African Union Commission which is slated for 14th to 17th July 2022. Read More
Western Africa
Cote D’Ivoire
Notes on the New Paths to African Prosperity via the Africa CEO Forum
With the theme; “Economic sovereignty, green growth and industrial transformation: new paths to African prosperity”, the much-awaited Africa CEO forum 2022 kicked off on Monday, 13th to Tuesday 14th of June in the city of Abidjan, the capital of Cote D’Ivoire. Read More

Cemoi Confectionery Group Makes Gains against Cocoa Traceability Goals
French-founded chocolate group Cemoi has revealed progress against its Cacao Ami des Forêts  project created by its Transparence Cacao programme tackling deforestation in Ivory Coast and address long-term viability of farms, reports Neill Barston. Read More

UNHCR’s Grandi joins Ivorian Refugees on the Last Leg of Their Journey Home
With peace and stability in Côte D’Ivoire, refugee status for Ivorians is coming to an end. The UN High Commissioner for Refugees joined a group returning home from Liberia. Read More

Transport Fares Expected to go up by 10 Percent
Transport fares are expected to go up by some 10 percent later this week if the unionised operators, Ghana Private Road Transport Union and the Ghana Road Transport Coordinating Council, are able to get the Transport Minister’s blessings on this margin of increase. Read More

Tema Motorway to be Expanded into Ten Lane – Roads Minister
The Roads and Highways Minister, Kwasi Amoako-Attah, has revealed that plans are underway to develop the Tema Motorway into a 10-lane highway. Read More

Travellers Call for Improved Medical Support at GACL
Travellers to Ghana have called on the Ghana Airports Company Limited (GACL) and the government to provide an improved medical support system to effectively deal with emergencies at the Kotoka International Airport. Read More

Commercial Banks not Supporting Agricultural Drive — Dr Akoto
Efforts by the government to boost the agricultural industry in the country have not yielded the desired results because commercial banks have failed to play their expected roles by giving out substantial loans to farmers. Read More

World Bank says Forex Crisis, Fuel Subsidy, Others are Offsetting Nigeria’s Gains from Rising Oil Prices
Foreign exchange crises, high inflation, and fiscal pressures generated by fuel subsidies, according to the World Bank, distort the benefits of a growing non-oil sector and high oil prices. Read More

Buhari Reemphasizes Nigeria’s Commitment to Climate Change and Renewable Energy
In a virtual meeting hosted by President Joe Biden of the United States, on Major Economies Forum on Energy and Climate Change, Buhari said an updated Nationally Determined Contribution to the UN Framework Convention on Climate Change had been submitted to replace the interim contribution. Read More

TotalEnergies Restates Commitment to Energy Transition
TotalEnergies Plc has assured shareholders that the company remains poised to become a multi-energy company that will play a major role in the country’s energy transition to consolidate its performance. Read More

Lagos Moves to Domesticate National Building Code
The Lagos Government has concluded plans to adopt the National Building Code as a way of regulating the building industry in the state. Read More
Click Here to Subscribe to Our Newsletter
Africa This Morning is ALN’s daily newsletter that gives a round-up of the top news making headlines across Africa. It focuses on business news and any other happenings set to impact doing business and investing in the region. The above are updates and do not constitute legal advice.

Financial Times
Business Daily Africa
Daily Nation, Kenya
New York Times
Daily News, Tanzania

CNBC, South Africa
Independent Uganda
Daily News, Egypt
Sudan Commerce News
Sudan News Agency
Copyright © 2022 ALN, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp