6 March 2023
Eastern Africa
Ambassador Lakizadeh Says There Are Lot of Untapped Trade, Economic Opportunities Between Ethiopia & Iran
Iran's Ambassador to Ethiopia Samad Ali Lakizadeh said there are a lot of untapped trade and economic opportunities between the two countries. Read More

PM Abiy Says Partnerships, Investments Essential for LDCs to Graduate
Prime minister Abiy Ahmed said partnerships and investments are essential for the Least Developed Countries to graduate. Read More

Ethiopian Officials, Hungary-Based International Firm Discuss on Ways to Investing in Energy Sector with Joint Venture
Foreign Affairs State Minister Ambassador Mesganu Arga, along with Minister of Planning and Development Fitsum Assefa held a business meeting with the co-founder of a Hungarian-based international firm, Equilibrium Capital, Peter Nagy, in Doha, Qatar. Read More

More Than Twenty Local, International Investors Express Interest in Tendering Ethiopian Sugar Enterprises
Over twenty local and international investors have expressed interest to the invitation extended expression of interest for the tender to privatize eight state-owned sugar enterprises in Ethiopia. Read More

CBK Freezes Top Banks’ Bid to Increase Borrowing Rates
The Central Bank of Kenya (CBK) has frozen a push by big banks to raise the cost of loans for borrowers presenting higher credit risks, drawing protests from the lenders. Read More

Moi-Era Contractor Loses KES 3 Billion Pay for Verbal Deal
A Moi-era contractor lost a KES 3.1 billion (approx. USD 24.2 million) payment claim for repairing roads in the Nairobi central business district in 1997 after the Court of Appeal ruled it was difficult to prove the job offered to the firm verbally. Read More

America Lists Trade Deal with Kenya on Its 2023 Agenda
President Joe Biden’s administration has prioritised the proposed bilateral trade pact with Kenya in its agenda this year ahead of the September 2025 expiry of the duty- and quota-free deal. Read More

Private Varsities Set for Windfall in New Funding Policy
Private universities expect to reap from a policy shift by the government to drop the current funding formula where all students who score C+ and above get State sponsorship to universities, irrespective of the income of their families. Read More

BoT Makes Effective Fiscal Policies to Build Strong Economy
The government has said the central bank will continue formulating effective fiscal policies to help in building robust economy amidst the current global economic shocks. Read More

Ecobank Group Gets Its New Chief Executive Officer
Ecobank Transnational Incorporated, has appointed Jeremy Awori a new chief executive officer for its pan-African banking Ecobank Group. Read More

Exim Launches Programme to Unlock Potentials of Women
Exim Bank Tanzania has launched a women-based product dubbed ‘Supa Woman,’ as a transformative programme aimed at unlocking the potentials of women in the country. Read More

Absa Tanzania CEO to Head Kenyan Unit
Absa Bank Kenya has named Abdi Mohamed the new chief executive, replacing Jeremy Awori, who exited in October last year after a nearly 10-year stint. Read More

UEDCL Registers a 9 Percent Increase in Revenue to UGX 80 Billion

State-owned Uganda Electricity Distribution Company has reported a 9 percent increase in revenues to UGX 80.1 billion (approx. USD 21 million) for the period ended June 2022 citing an increase in operational efficiency and increased customer connections. Read More

New Orders Sustain Private Sector Expansion Despite Slight Dip
The headline Stanbic Purchasing Managers’ Index dipped to 51.2 during February from 53.2 in January as business activity increased in the services and wholesale and retail categories, but decreased in agriculture, construction and industry. Read More

BAT Calls on Government to Help Fight Illicit Trade
BAT Uganda has called upon the Government to ramp up efforts to curb illicit trade in cigarettes, which it says is impacting the sustainability of its business. Read More

East African Breweries Retires Japheth Katto
The Board of Directors of East African Breweries hereby announces the retirement of Japheth Katto as a director of the company with effect from 28 February. Read More
Northern Africa
Official Opening of the Second African Business Fair in Algiers

The second African Business Fair "SADA 2023" opened on Sunday at the Palais des Expositions in Algiers, with the participation of 80 exhibitors representing different sectors of business. Read More

Tender Launched for 15 Solar Photovoltaic Plants
Sonelgaz Group has unveiled the list of wilayas concerned by the construction of 15 solar photovoltaic plants, with a unit power varying between 80 and 220 MWc for a total power of 2000 MWc, in a national and international call for tenders announced last by the group. Read More

Egypt Tops List of MENA Countries Sealing Deals with Startups in 2022

Egypt has topped the list of Middle East and North Africa (MENA) countries that sealed deals with startup companies last year. Read More

Egypt Ranking Stable at 2023 Agility's Emerging Markets index
The Cabinet Information and Decision Support Center said Egypt maintains a stable position in the Agility’s Emerging Markets Logistics Index of 2023. Read More

Egypt's Foreign Reserves Increase USD 128 Million by End of February
Egypt’s net international reserves increased USD 127.9 million by the end of February 2023 to USD 34.352 billion, compared to USD 34.224 billion by the end of January 2023, according to the Central Bank of Egypt. Read More

Egypt's PMI Hits 46.9 in February
Egypt’s Purchasing Managers' Index, issued by the S&P Global Group, recorded 46.9 in February to remain firmly beneath the 50.0 neutral mark. Read More

UN Chief Condemns ‘Predatory’ Practices Against Poor Nations
United Nations Secretary General Antonio Guterres condemned rich nations and energy companies for targeting poor countries with high interest rate loans and crippling fuel prices, calling the practices “predatory. Read More

Morocco Leads North Africa in Soft Power Index
Morocco is a regional leader in soft power; the latest index showed that Morocco ranked ahead of all North African countries, and placed among the top three in Africa, according to a news report from British consultancy Brand Finance. Read More

Car Sales in Morocco Regress in 2023 Amid Declining Purchasing Power
Sales in Morocco’s automotive sector dropped to 11,333 vehicles in January 2023, down by nearly 9% from last year’s 12,439 vehicles, according to the monthly report from the country’s association for car importers. Read More

Morocco Records Largest Cereal Production Decrease in North Africa
Morocco recorded the largest decrease in cereal production in North Africa in 2022, the United Nations’ Food and Agriculture Organization’s quarterly report showed. Read More
Southern Africa
High Data Costs Deny Many Opportunities, Shows Analysis
Many African countries are struggling with expensive data prices, but Malawians are paying more than their counterparts on the continent, according to analysis by Statista, an online platform specialised in market and consumer data. Read More

Government Moves to Protect Forex
The Malawi Government has moved to strengthen foreign exchange controls by, among others, meting out stiffer penalties to those involved in transfer pricing with the intention of moving forex out of the country. Read More

South Africa
State Proposes Drastic Measures to Save Ailing Water Boards
The government is considering taking drastic measures, including withholding equitable share to municipalities that fail to pay their water bills, in an attempt to save the country’s ailing water boards from financial ruin. Read More

Ramaphosa Set to Announce Cabinet Reshuffle
President Cyril Ramaphosa will finally announce his much-anticipated new cabine, his spokesperson, Vincent Magwenya, said. Read More

Treasury Targets Value for Money as Critical to Budget Process
The Treasury does not believe in indiscriminate, incremental and across-the-board increases in departmental budgets to simply keep pace with inflation as they fail to take into account underspending, inefficiencies and wasteful expenditure. Read More

Ruling on ZAR 40 Billion Heineken Distell Merger Imminent at Last
The decision by the Competition Tribunal on whether to give the Heineken Distell ZAR 40.1 billion (approx. USD 2.2 billion) merger the go-ahead is expected this week with the regulatory body saying they have until to make the ruling within the required legal time frames. Read More

We May Start 3 Months Fuel Reviews Once Pipelines are Operational
Energy Minister Peter Kapala says the government may start reviewing fuel pump prices after three months once pipelines are operational. Read More

NAPSA’s Financial Portfolio Will Grow After Lending Out Money for Lusaka-Ndola Road
Commerce, Trade and Industry Minister Chipoka Mulenga says there’s nothing wrong with the contractor of the Lusaka-Ndola Dual Carriageway borrowing from NAPSA as the authority’s financial portfolio might even grow as a result. Read More

Zambia’s Kwacha in Free-Fall Under President Hichilema’s Leadership, Says Socialist Party
Zambia’s currency, the Kwacha, is rapidly depreciating under the leadership of President Hakainde Hichilema, according to a statement from the Socialist Party. Read More

The Production of Cotton in Zambia has Declined by About 95 Percent, Says the Cotton Association
The Cotton Association of Zambia has said, the production of cotton in the country has declined by about ninety five percent. Read More
Western Africa
Cote d'IVoire
Hundreds of Migrants Leave Tunisia After Attacks and Amid the Biggest Protest in Capital
Almost 300 people returned from Tunisia to Mali and Ivory Coast after boarding repatriation flights, fearful of a wave of violence since the president launched a tirade against migrants. Read More

PURC, GIMPA Launch Centre of Excellence
The Public Utilities Regulatory Commission (PURC) and the Ghana Institute of Management and Public Administration (GIMPA) have inaugurated the Centre of Excellence in Public Utility Regulation. Read More

Disclose Beneficial Ownership to Enhance Business Transparency in Ghana
The Registrar of Companies, Jemima Oware, has called on businesses to disclose their beneficial owners in line with the Companies Act, 2019 (Act 992) to promote transparency and provide a level playing field for the business community in Ghana. Read More

Virtual Infosec, LogRhythm Partnership Good for Businesses – Cyber Security Boss
The Director General of the Cyber Security Authority, Dr Albert Antwi-Boasiako, has commended the partnership between Virtual Infosec Africa, an indigenous firm, and LogRhythm, an international company, to protect the data of businesses and organisations against cyber-attacks and interruptions. Read More

Ghana Must Expedite Re-Enactment of the PWDs Bill – UN Resident Coordinator
Mr Charles Abani, the United Nations Resident Coordinator, has urged the government and parliament to expedite the reenactment of the persons with disabilities bill to bring it into compliance with international standards. Read More

Federal Government Targets USD 1.1 Billion from Maritime Concessions
The Federal Government is targeting over USD 1.1 billion from concessioned projects to be executed by the Nigerian Maritime Administration and Safety Agency. Read More

CBN Releases NGN 114 Billion Under 100-for-100 Policy
The Central Bank of Nigeria has disbursed NGN 114.17 billion (approx. USD 248 million) to beneficiaries under its 100-for-100 Policy on Production and Productivity since the commencement of the intervention. Read More

Nigeria, India Sign MoU on Weather Research, Others
The Federal Government and the Government of India have signed a Memorandum Of Understanding for collaboration in the conduct of Meteorological science, technical research and development. Read More

FG Disburses NGN 309 Billion Grant to Exporting Firms
The Federal Government has approved the disbursement of NGN 308 billion (approx. USD 670 million) worth of promissory notes to 199 exporting 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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