23 December 2022
Eastern Africa
Scholars Urged to Play Leading Role in Nation-State Building Process by Generating Knowledge-Based Solutions
Ministry of Peace has called on scholars to play a leading role in the nation-state building process by coming up with knowledge-based solutions. Read More

Ethiopia’s Swift Implementation of Peace Agreement Returning Lives to Normal
The swift implementation of the peace agreement by the Ethiopian government has restored basic services and the return of lives to normalcy in war-torn areas, according to residents of Alamata city. Read More

Norway Expresses Readiness to Support Ethiopia in Realizing Lasting Peace, Rehabilitation
Norway is ready to support Ethiopia in whatever way possible in its effort for lasting peace and rehabilitation process, Norway’s Ambassador to Ethiopia Stian Christensen said. Read More

World Largest Oil Firm Aramco Enters Kenya Through Buyout
Saudi Aramco, the world’s biggest oil producer, is set to enter the Kenyan market through the acquisition of US motor oil and lubricants group Valvoline which has a presence locally. Read More

Producer Inflation Hits Highest Points Since 2019
A sharp increase in producer inflation, which measures the price movement of manufactured goods before they are dispatched to retailers, has hit a three-year high as players grapple with supply disruptions and the effects of a global economic slowdown. Read More

Animal Feed Makers to Import 350,000 Tonnes of Yellow Maize 
The Agriculture Ministry has allowed animal feed manufacturers to import 350,000 tonnes of yellow maize duty-free for a period of one year to address high prices. Read More

Coffee Industry Renews Push for Minimum Returns Fund
The Kenya Coffee Planters Association has asked the government to implement the guaranteed minimum returns promise in the wake of poor prices that has seen the value of the commodity remain low for the past two months. Read More

EU to Fund Construction of New RWF 30 Billion Kigali Veggie Market
The long-awaited construction of the Kigali Wholesale Market for fresh produce could start next year, after the European Union reached a deal with the government to fund it. Read More

Rwanda Tops Africa in Internet Speed
A new Global Innovation Index report released by the World Intellectual Property Organisation has ranked Rwanda as the leading low-income country in Sub-Saharan Africa with the fastest broadband speed. Madagascar comes in 2nd place. Read More

Education Ministry Releases New School Hours Schedule
The Ministry of Education has published a timetable to be followed in the New Year following revision of school hours countrywide. Read More

Government, NMB in Land Rent, Levies Tie-Up
Landowners can now pay their rent and other levies through NMB Bank payment channels, thanks a partnership reached between the government and the bank. Read More

Meat Factory to Provide 1,500 Jobs
A modern meat processing factory worth TZS 14 billion (approx. USD 6 million) which is currently under construction in Kwazoka Village, Chalinze Council in Bagamoyo District is expected to provide 1,500 employments. Read More

New Microfinance Entity Unveils New Branches to Boost Delivery of Service
A new microfinance entity launched five new branches in Dar es Salaam to boost service delivery, as it targets to reach more Tanzanians. Read More

Barrick’s Bulyanhulu Achieves 5th Certification Under ICMI      
The International Cyanide Management Institute (ICMI) announced that Barrick Gold Corporation’s Bulyanhulu Gold Mine has been recertified in full compliance under the International Cyanide Management Code. Read More

Rethinking Financial Inclusion
New developments in the financial sector have forced a rethink of how the sector should be developed to ensure it helps build a thriving economy that works for every Ugandan, according to Moses Kagwa, the Director of Economic Affairs at the Ministry of Finance, Planning and Economic Development. Read More

Report Warns of Negative Impact on Trade Due to Increase in Immigration Barriers
The African Development Bank has said increased immigration barriers are likely to derail Uganda’s trade ambitions within East Africa and Africa at large. Read More

URSB Bets on Digital Services to Grow Business Registration
Uganda Registration Services Bureau (URSB) has said it will rely on the newly launched Online Business Registration System to grow business registration by at least 50 percent. Read More

Return on Investment of Public Projects Low - IMF
A report by the International Monetary Fund (IMF) has revealed that the effectiveness of public investment in Uganda is markedly lower than institutional design. Read More
Northern Africa
Egypt's Sales of Gold, Silver in 8 Years’ Worth USD 5.3 Billion

The Ministry of Petroleum and Mineral Resources revealed that the sales of gold and silver recorded USD 5.3 billion between 2014 and 2022. Read More

Egypt's Central Bank Raises Interest Rates 3 Percent During Last Meeting in 2022
The Monetary Policy Committee decided, to raise the Central Bank of Egypt’s interest rates by 300 basis points, or 3 percent, during its last meeting in 2022. Read More

Egypt's Central Bank Issues EGP 26.5 in T-bills
The Central Bank of Egypt, on behalf of the Ministry of Finance, is set to issue EGP 26.5 billion (approx. USD 1 billion) in treasury bills. Read More

Suez Canal Authority Fund Not Backdoor for Selling the Canal: SCA
The Suez Canal Authority (SCA) denied the government's intention to establish the Suez Canal Authority Fund as a back door for selling the canal. Read More

Sumitomo Invests MAD 2 Billion in Nine Automotive Projects in Morocco
Japanese company Sumitomo Electric Industries has signed an agreement with Morocco’s Ministry of Industry and Trade to invest nearly MAD 2 billion (approx. USD 190 million) in Morocco’s automotive ecosystem. Read More

Moroccans Living Abroad are Morocco’s 13th Region
As the issues of talent retention and brain drain remain a pressing challenge for Morocco, the Minister of Energy Transition and Sustainable Development Leila Benali says that the country is “very well-positioned to entice the mobility of Moroccan talents” both living in the country and abroad. Read More

Morocco Launches Women Entrepreneurs Finance Initiative
Authorities in Morocco launched in Rabat the Women Entrepreneurs Finance Initiative, which aims to support women-led businesses to develop their operations through e-commerce. Read More

CWP Global to Boost Morocco's Transition to Green Energy
Renewable energy development company CWP Global is set to accelerate Morocco's green energy transition with the launch of two major green hydrogen projects, beginning with the AMUN project, which will deploy 15 GW of wind and solar in Morocco. Read More
Southern Africa
RBM, Banks Move to Accelerate Bank Transfers
Commercial bank customers have started enjoying instant money transfers following introduction of instant electronic funds transfer through National Switch to fast-track interbank transactions. Read More

World Bank Approves MWK 218 Billion Grants
The World Bank has approved two International Development Association grants worth USD 210 million (approx. MWK 218 billion) for Malawi to scale up and strengthen national safety nets. Read More

MDAs Owe NRWB MWK 2.9 Billion
The Northern Region Water Board has told the Public Accounts Committee of Parliament that public institutions owe the board about MWK 2.9 billion (approx. USD 2.8 million) in bills. Read More

Embrace Farming as Business, Minister Urges
Agriculture Minister Sam Kawale has challenged Mwimba College of Agriculture graduates to go beyond seeking employment and embrace farming as a business. Read More

South Africa
SA Wheat Harvest Expected to be 1.6 Percent Lower Than Last Year
Farmers are expected to harvest 1.6 percent less wheat in the 2022 season compared with the previous season, the government’s Crop Estimates Committee said. Read More

TFG to Buy Street Fever Footwear Chain
TFG, South Africa’s largest clothing and homeware retailer, has made another acquisition, buying Street Fever, a footwear brand with 114 stores. Read More

Old Mutual Unit in Affordable Housing Deal Worth ZAR 128 Million
Old Mutual Impact Investing, a division of Old Mutual Alternative Investments, has acquired 188 two-bedroom sectional title apartments through its Financial Sector Charter Fund in partnership with Asrin Property Developers for ZAR 128 million (approx. USD 7.5 million). Read More

Mercedes-Benz SA Appoints Wilfried Porth Chair
Mercedes-Benz SA has appointed Wilfried Porth as chair after the retirement of Joachim Schmidt. Read More

China Trade Volume Over USD 5 Billion
Trade volumes between Zambia and China have exceeded USD 5 billion in the first three quarters of this year, Chinese Ambassador to Zambia Du Xiaohui has said. Read More

Kabwe to Have Second Mall
BMD Properties has invested over USD 1.2 million in a new shopping mall in Kabwe, Central Province, which is expected to create about 150 jobs once it opens for business. Read More

GEMFIELDS Has Started a Share Buy-Back Programme
Gemfields has started a share buy-back programme to buy up to USD 10 million worth of ordinary shares. Read More
Western Africa
Cote d'Ivoire
Ivory Coast Battles Chocolate Companies to Improve Farmers’ Lives
On a small cocoa plantation in the southwest of Ivory Coast, a group of men hack away at the yellow and red fruit used to make chocolate. Read More

Architectural and Engineering Services Appeals for 70 Percent Consultancy Jobs from Government 
The Architectural and Engineering Services has appealed to government for at least 70 percent of its consultancy jobs to enable it become financially stable and more productive. Read More

Ghana Government Finalises Barter of Gold for Oil Products Arrangements – Bawumia
Vice President Mahamudu Bawumia said the government has completed discussions to operationalise the barter of gold for oil products next month. Read More

AngloGold Undertakes Community Land Reclamation Projects to Create Industrial Parks  
AngloGold Ashanti Obuasi Mine is undertaking reclamation projects to ensure that all strategic lands in communities in Obuasi are converted and used as an industrial park. Read More

Ayoba Hits Major Milestone, Records 20 Million Monthly Active Users
MTN, in partnership with ayoba, Africa’s Super App, has reached 20 million monthly active users as of 5 December. This represents growth of 100 percent compared to the 10 million monthly active users recorded at the same time last year. Read More

Finance Bill 2022: FG Proposes to Change FIRS to NRS
The Minister of Finance, Budget and Economic Planning, Mrs. Zainab Ahmed, appeared before the Senate Committee on Finance to defend the amendments proposed in the 2022 Finance Act which was recently sent to the National Assembly by President Muhammadu Buhari. Read More

FG May Reintroduce Telecom Tax in 2023 – Report
The Federal Government is reconsidering imposing excise duty on telecoms services after it was suspended, which would compel operators to adjust the rates of calls and data upward. Read More

FG Seeks Expansion of Nigeria’s Software Sub-Sector
The Federal Government through the Minister of Communications and Digital Economy, Prof. Isa Pantami, has said that quality software development will be essential in expanding Nigeria’s digital economy. Read More

SEC Warns Investors About 4 Blacklisted Italian E-Commerce Firms
Nigeria’s Securities and Exchange Commission (SEC) has warned the Nigerian investing public to desist from dealing with four blacklisted Italian e-commerce companies. Read More
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.

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