2 September 2022
Eastern Africa
French Tech Firms Say Keen to Work in Ethiopia
Three French technology companies, ALEPH, ARINC, and THALES have expressed their interest to work in Ethiopia, says the embassy of Ethiopia in Paris. Read More

Ethiopia Briefs Diplomats in Addis Ababa
Deputy Prime Minister and Foreign Minister Demeke Mekonnen and State Minister Ambassador Tesfaye Yilma briefed today Addis Ababa-based diplomats and representatives of international organizations about current developments in Ethiopia. Read More

UNECA Boss Stepped Down after Five Years
United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (UNECA), Vera Songwe, has stepped down, effective 1 September 2022, after five years of dedicated service to ECA and its Member States. Read More

Ethiopian Companies to Participate in the GITEX Global Summit
Five Ethiopian companies which are engaged in business outsourcing will engage in an international technology fair which will be held in Dubai this year. The companies participating in the GITEX Global Summit in Dubai are Africom Technologies, Excellerent Technology Solutions, IE Network Solutions, Orbit Health Solutions, and R&D Group. Read More

Treasury Extends Job Freeze into the New Administration
The National Treasury has extended the hiring freeze in parastatals and government ministries into the new government, dashing hopes of thousands of jobless Kenyans who were looking at change of administration to secure jobs. Read More

KCB Secures KES 18 Billion IFC Credit to Fund Green Projects
KCB has obtained a loan of USD 150 million from the International Finance Corporation to support its lending to eco-friendly ventures. Read More

Mauritian Firm Raises Stake in US Embassy Estate Maker
Mauritius-based Grit Real Estate Income Group has completed the purchase of an extra 8.72 per cent stake in Gateway Real Estate Africa, which has recently completed the development of a USD 48.5 million housing estate for the US Embassy in Nairobi. Read More

Naivas Founders Get KES 3.8 Billion in Sale of Stake to Three Firms
The family of Peter Mukuha Kago, the founders of supermarket chain Naivas, has pocketed an estimated USD 32.29 million (KES 3.8 billion) from the sale of an 8.5 percent stake to a consortium of international investors in a transaction that values the retailer at KES 45.6 billion (approx. USD 380 million). Read More

Uganda and Rwanda Resume Talks to Revive Bilateral Ties
Rwanda and Uganda have officially resumed diplomatic talks, a significant step towards reviving relations between the two countries that were at loggerheads for almost three years till the beginning of this year. Read More

FCBS Appointed to Masterplan 10,000-Home Neighbourhood in Rwanda
Feilden Clegg Bradley Studios (FCBS) has been appointed to design a masterplan for a 600 hectare extension to Kigali, the capital of Rwanda. Read More

New Dawn as 5G Technology Launched in Tanzania
Minister of Information, Communication and Information technology, Mr Nape Nnauye launched Vodacom Tanzania’s 5G technology and promised that the State was ready to create a conducive environment to boost innovations geared to bring solutions in the community. Read More

Govt Prepares Programme to Develop Aquaculture
Minster for Livestock and Fisheries, Mashimba Ndaki said the government has prepared a programme aimed at developing aquaculture by providing financial support to players in the sector. Read More

Nyanzaga Gold Study Reveals Robust Economic Results
ORECORP has announced the Definitive Feasibility Study for the Nyanzaga Gold Project in Sengerema, Mwanza that confirmed a project with robust economic results. Read More

Air Tanzania Eyes Dar-London, More Long-Haul Routes
With the global aviation recovering from the Covid-19 scars, Air Tanzania Company is eying further long-haul expansion. Read More

Public Debt Projected to Increase, Parliament Told
The vice chairperson of the parliamentary committee on National Economy, Robert Migadde has said the total public debt has increased over recent years due to the implementation of the government's investment agenda and the effects of the Covid-19 pandemic that caused revenue shortfalls. Read More

Absa Partners with the Uganda Institute of Information and Communications Technology
Absa Bank Uganda has partnered with the Uganda Institute of Information and Communication Technology (UICT) to provide ICT skills training to youth in vocational institutions around the country. Read More
Northern Africa
Egypt Facilitates Import Procedures
Egypt’s Ministry of Finance issued earlier this week new decisions aimed at facilitating import procedures in ports, and easing the burdens of importers who face difficulty in providing hard currency to release goods due to the application of the documentary credits system.  Read More

CBE: Egypt's Legislations Run with International Money Laundering Standards
Central Bank of Egypt First Deputy Governor Gamal Negm said the legal and legislative atmosphere in Egypt goes in line with international standards and latest changes in the anti-money laundering field. Read More

Egypt 3rd Strongest Economy in Arab World: UAB Chief
Egypt is the third biggest and strongest economy in the Arab region, said Secretary General of the Union of Arab Banks Wissam Fattouh. Read More

Egypt Has Become Attractive Destination for FDI: Finance Minister
Egypt has become more attractive for foreign direct investment and has a huge potential to attract more investments, affirmed Finance Minister Mohamed Maait. Read More

Morocco’s Automotive Exports Rose by 31.6 Percent in July 2022
Morocco’s automotive exports reached MAD 59.6 billion (approx. USD 5.6 billion) at the end of July 2022, an increase of 31.6 percent compared to a year earlier. Read More

Remittances From Moroccans Abroad Reach USD 5.5 Billion
Remittances from the Moroccan community abroad totaled 58.2 billion (approx. USD 5.5 billion) at the end of July 2022, up from last year’s MAD 54.1 billion (approx. USD 5.1 billion). Read More

Morocco Raises Minimum Wage for Agriculture, Industry Workers
Morocco’s government announced it is raising the minimum wage for both industrial and agricultural workers. Read More

BMCI Appoints Attijariwafa Bank’s Hicham Seffa As New Director-General
The supervisory board of BMCI, an affiliate of BNP Paribas, appointed Hicham Seffa as the group’s new Director-General and member of the board of directors. Read More
Southern Africa
Malawi Eyes 100 Percent Energy Access Within 8 Years
Energy-deficient Malawi has disclosed plans to achieve 100 percent energy access by 2030. Read More

Lotus Raises Cash for Kayelekera Start
Uranium developer Lotus Resources has completed a AUD 25 million (approx. USD 17 million) share placement to sophisticated, professional and institutional investors to progress the development of the Kayelekera project, in Malawi. Read More

Portugal Still Main EU Trade Partner Despite Covid as Summit Starts
Portugal leads among European Union countries from which Mozambique takes its imports, despite the disruption of traditional trade patterns caused by the Covid-19 pandemic, from which the two countries are set to try to recover with this week’s government summit and business forum in Maputo. Read More

South Africa
EU Objects to SA Government Plan to Ban Scrap Metal Exports
The EU has objected to a proposal by the SA government to ban the export of scrap metal, saying such a drastic step potentially violates provisions that govern world trade. Read More

New ZAR 500 Million Shopping Mall to Open this Month
Boardwalk Mall, a new 24,000sqm development in Gqeberha, Eastern Cape is close to completion and will open to shoppers this month. Read More

New ‘App Store’ and Artificial Intelligence Institute to Boost Tech Subjects at Schools in South Africa
South Africa intends to enhance the teaching of robotics and coding in public schools through the establishment of an Artificial Intelligence Institute. Read More

South African Lender Nedbank posts 26 Percent Jump in Interim Profit
South African lender Nedbank Group NEDJ.J said its interim profit increased by more than a quarter, as the economy regained momentum despite challenges. Read More

Govt Releases ZMW 500 Million for Indeni Redundancy Packages
Energy Minister Peter Kapala says government has released over ZMW 500 million (approx. USD 32.4 million) as a redundancy package for the 320 workers of Indeni oil refinery. Read More

Govt Appoints Technical Working Group to Review Zamtel’s Operations
Minister of Technology and Science Felix Mutati says government has appointed a technical working group under the auspices of the Public Private Dialogue Forum to review Zamtel’s operations. Read More

Youth NGO Plans Cassava Plant
Green Agriculture Youth Organisation plans to establish a cassava plant in Rufunsa to promote value addition to the tuber crop. Read More

Africa Needs USD 64 Billion for Water Investment Annually
The African Union Development Agency says the continent needs to invest Sixty-Four (64) Billion United States Dollars towards water and sanitation services on an annual basis if the livelihoods of communities in Africa are to improve. Read More
Western Africa
Cote D’Ivoire
Egypt's Investments in Africa up to USD 10.2 Billion Trade Volume with Ivory Coast up 178 Percent Trade Minister
Egyptian investments in Africa rose by USD 1.2 billion in 2021 to USD 10.2 billion, and trade volume with Ivory Coast has risen to USD 149 million, an increase of 178.5 percent compared to 2020, Egypt’s Minister of Trade and Industry Ahmed Samir said. Read More

Firering Records Positive Results from Côte d'Ivoire Drilling Programme
Aim-listed Firering Strategic Minerals has achieved positive results from a core drilling programme at its flagship Atex lithium/tantalum project, in Côte d'Ivoire. Read More

We Have Disbursed Over GHS 500 Million to SMEs – Ghana Enterprises Agency CEO
The Chief Executive Officer of the Ghana Enterprises Agency, Mrs. Kosi Yankey-Ayeh, has disclosed that the agency has disbursed over GHS 500 million (approx. USD 50 million) to Small and Medium Scale Enterprises in the wake of the Covid-19 pandemic. Read More

We will Prosecute Businesses Failing to Issue VAT Invoices – GRA
The Ghana Revenue Authority (GRA) is warning businesses that do not issue Value Added Tax (VAT) invoices from 1 September 2022 that they will face prosecution when caught. Read More

Hollard, Melcom Partnership Yield Results
The partnership between Hollard and Melcom to make insurance more accessible to Ghanaians through a shop and insure initiative is yielding positive results, with the provision of 5,000 policies in two years.  Read More

Dangote Refinery Expected to Start Operations by Mid-2023
The giant refinery being built in Nigeria by Africa’s richest person, Aliko Dangote, will finally start operations by mid-2023, according to the state oil company, which has a 20 percent stake in the project.  Read More
Fed Government to Upgrade Onne Port Infrastructure
The Federal Government said that it is determined to accelerate investment in Onne Port infrastructure that will lead to thousands of direct and indirect jobs creation for the youths and boost the economy. Read More

Nigeria’s Non-Oil Export Revenue Hits NGN 2.5 Billion
Executive Director, Nigeria Export Promotion Council, Ezra Yakusak has estimated Nigeria’s non-oil export between January and June 2022 at about NGN 2.5 billion (approx. USD 6 million), an increase of about 60 percent in the last four years. Read More

NLNG Pledges to Solidify Local Content for Nigerians
Nigeria Liquefied and Natural Gas (NLNG) has said it is committed to ensuring that Nigerians benefited maximally from all its operations by going beyond mere compliance with Nigerian Content targets as set out in the Nigerian Oil and Gas Industry Content Development Act 2010. Read More

Zipline, Jumia Pioneer Products Delivery via Drone to Homes
E-commerce platform in Africa, Jumia and Zipline, the world’s largest instant delivery service, announced a collaboration to deploy automated, on-demand delivery for e-commerce in Africa. Read More
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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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