20 January 2023
Eastern Africa
Ethiopian Airlines to Launch Flights to Atlanta
Ethiopian Airlines, the largest network operator in Africa, said it has finalized preparations to commence a new service between Addis Ababa, Ethiopia, and Atlanta, USA. Read More

KRA to Track Landlords, Spy M-Pesa Accounts for Extra KES 375 Billion
The Kenya Revenue Authority (KRA) will conduct a census of landlords’ properties and seek direct access to M-Pesa transactions in efforts to catch tax cheats and raise an additional KES 375 billion (approx. USD 30 billion) for the year starting July. Read More

Ruto Expands Budget by 7 Percent to KES 3.64 Trillion
Treasury Cabinet Secretary Njuguna Ndung’u faces a growing headache in financing the national budget as the government continues to fall behind target in both its domestic borrowing plan and tax collection. Read More

Users Allowed to Sue Safaricom Over Clients Bank Details Access
The High Court has allowed millions of Safaricom subscribers to join a class action suit against the telecoms operator over a clause in the SIM card registration rules that allows the firm to collect bank details of mobile phone users. Read More

State Eyes KES 10,000 a Month Mortgages 
The government has set its sights on an ambitious overhaul of the housing and mortgage market with a plan to bring down the cost of mortgage instalments to just KES 10,000 (approx. USD 80) a month. Read More

Private Sector Tipped on Requirements to Trade Under AfCFTA
Private sector actors were on Thursday, January 19, taken through the different frameworks governing the African Continental Free Trade Area agreement (AfCFTA) and requirements to start trading across the countries. Read More

Rwanda, Tanzania Seek to Enhance Defence Cooperation
The Rwandan envoy to Tanzania, Maj Gen Charles Karamba said the two countries are looking at sustaining and improving their cooperation in defence. Read More

MPs Summon Trade, Local Govt Ministers Over Substandard Abattoirs
Eleven investors are set to start carrying out commercial farming on 4,000 hectares in the Gabiro Agribusiness Hub project in April this year, with a view to increase the country’s exports and substitute imports. Read More

WFP Welcomes Funding from the United States to Support Refugees in Rwanda
The United Nations World Food Programme (WFP) has welcomed a contribution of USD 7.2 million from the United States (through USAID's Bureau for Humanitarian Assistance) to provide life-saving food assistance in the form of cash transfers and treatment for malnutrition including social and behavioral change initiatives for 113,500 refugees living in all five camps in Rwanda. Read More

Trade Between Tanzania and the Comoros Set to Flourish
Trade between Tanzania and Comoro through Mtwara port is expected to increase by several folds following the current business volume compared to last fiscal year. Read More

Govt Commends Yapi Merkezi's Efficiency in Handling the SGR Project
The Tanzania Railway Corporation has given a 42 months ultimatum to a Turkish construction firm, Yapi Merkezi to complete construction of the fourth phase of the 165 kilometres Standard Gauge Railway (SGR) section from Tabora to Isaka. Read More

‘BoT is Key Stakeholder in Blue Economy Agenda’
AS Zanzibar takes different measures to raise the living standards and improve its economy through the ‘Blue Economy’ agenda, President Hussein Mwinyi has described the Bank of Tanzania (BoT) a key stakeholder in their economic revolution. Read More

Microsoft to Axe 10,000 Jobs Over Poor Economy
Microsoft said it would lay off 10,000 employees in the coming months as the economic downturn continues to punish US tech giants. Read More

Uganda’s Exports to Kenya Hit UGX 231 Billion
Uganda’s export receipts to Kenya have continued rising despite trade blockades, with the latest November earnings hitting USD 62.7million, the highest in over three and half years. Read More

Collective Investment Schemes Rise to UGX 1.5 Trillion
Assets Under Management for Collective Investment Schemes Managers have more than doubled to UGX 1.46 trillion (approx. USD 397 million) at the end of September 2022, up from UGX 69 billion (approx. USD 20 million) that was recorded in September 2017 according to Capital Markets Authority. Read More

UNBS Plans Green Engine Oil Standards
Oil and lubricants sector players are plotting ways of introducing safe engine oil standards on the market. Read More
Northern Africa
Egypt's PM Chairs 1st Meeting of Higher Committee on Implementing State Ownership Policy Document

Egyptian Prime Minister Mostafa Madbouli chaired the first meeting of the higher committee on implementing the State Ownership Policy Document approved by the president late last month. Read More

NWFE Program Aims to Mobilize Investments Worth USD 14.7 Billion
Egypt’s NWFE program aims to mobilize investments worth USD 14.7 billion, according to Minister of International Cooperation, Rania Al-Mashat. Read More

UN Praises Egypt’s All-Women Peacekeeping Unit in Mali
UN Resident Coordinator in Egypt Elena Panova praised Egypt for enhancing women's role in peacekeeping operations. Read More

Sukari Gold Mine Production Exceeds 440,000 Ounces in 2022
Production of the sukari gold mine production increased by 6 percent to 440,974 ounces in 2022, compared to 415,370 ounces in 2021, according to Centamin Company. Read More

The Geopolitics Behind Google Currency Glitch
Morocco's central bank, Bank Al-Maghrib,  reassured Moroccans that the Moroccan dirham currently trades at around MAD 11 per EUR1. Read More

Sharjah Public Finance Prize Seminar Aims to Support Arab Economies
In cooperation with Morocco's Ministry of Economy and Finance, Sharjah’s Central Finance Department is holding an introductory symposium for the second edition of the Sharjah Prize in Public Finance. Read More

‘Marrakech-Fez-Meknes Highway Project is of Utmost Importance’
Minister of Equipment and Water Nizar Baraka has said that Morocco has 1,800 kilometers of highway, which improves connectivity between regions and plays an important role in the country’s socio-economic development. Read More

Marrakech Tops List of Most Popular Destinations for French Tourists in 2022
Morocco’s Marrakech has topped the list of the most popular destinations for French tourists for the second year in a row. Read More
Southern Africa
Malawi Stock Exchange Picks Up in 3 Weeks
Trading picked up steadily on the Malawi Stock Exchange in the first three weeks of the New Year. Read More

Tobacco Estimate Survey Underway
A team of experts from the Tobacco Commission, Tobacco Association of Malawi Trust and representatives of other tobacco stakeholders on Monday began a three-week long assessment of the leaf’s development to ascertain production volumes of the crop this season. Read More

Gemstones Market Opens Next Month
All is set for commencement of formal gemstones trading in the country following a decision by the Ministry of Mining and the Reserve Bank of Malawi to mandate the Export Development Fund to start purchasing precious stones in the country. Read More

Consumer Complaints Rise by 30 Percent in 2022
The retail sector trading in consumables, electronics and accessories topped the list of consumer complaints lodged to the Competition and Fair Trading Commission in 2022, which rose by 30 percent. Read More

Vodacom is Announced Top Employer 2023
The companies certified as Top Employers 2023 have just been announced by the Top Employer Institute, and Vodacom was recognised as one of them. Read More

South Africa
EU Aims to Increase Grant Component of Just Transition Funding
The EU is considering increasing the grant funding it will contribute to support SA’s transition to green energy, but wants an implementation plan from the government outlining its transition before finalising the details. Read More

South Africa’s ‘Real’ Matric Pass Rate is Under 55 Percent
While the Department of Basic Education is celebrating the official 2022 matric pass rate of 80.1%, critics of the government’s methodology in determining the number are pushing what they call a more realistic figure. Read More

EOH Secures Guarantees for ZAR 500 Million Rights Offer
EOH shares took another dip on Thursday as the technology group revealed pricing details for its upcoming ZAR 500 million (approx. USD 29 million) rights offer. Read More

Calls Grow to Overhaul ‘Outdated’ Public Schooling to Improve Results
Basic education minister Angie Motshekga has commended the matric class of 2022 for achieving an 80.1 percent pass rate, which puts the candidates in good stead for accessing university education, amid calls for a complete overhaul of the country’s public education system. Read More

Planned Introduction of Solar Power Farms Welcomed
Energy Engineer, Boniface Zulu is backing the planned introduction of the creation of Solar Power Grids in farms across the country by the Government. Read More

Musokotwane Calls on Investors
At the ongoing World Economic Forum Annual Meeting in Davos, Switzerland, Minister of Finance and National Planning Dr. Situmbeko Musokotwane has called on investors to partner with Zambians and invest. Read More

Maamba Collieries has Resumed Operations and Supplying Full Power to ZESCO
Maamba Collieries has completed its scheduled maintenance works on one of its two 150 MW units at the coal-fired thermal power plant three days ahead of schedule and has since resumed operations at full capacity and is supplying full power to ZESCO. Read More
Western Africa
Cote d'Ivoire
AMEA Power to Build First Solar Independent Power Project in Ivory Coast
Middle Eastern renewable energy company AMEA Power has signed an agreement with the Ivory Coast government for a solar PV project. Read More

Ghana Government Pursuing Strategies to Encourage Investment in Minerals
The Ghana government is pursuing strategies to encourage investment in minerals other than the traditional gold, diamond, bauxite, and manganese. Read More

At UAE Business Forum: Ghana Targets Net Zero Emission
The President Nana Addo Dankwa Akufo-Addo says the government would collaborate with stakeholders around the world to explore the Ghana’s minerals resources in an environmentally friendly manner for national development. Read More

G20 Creditors on Board for Ghana Debt Relief Talks
All member countries of the G20 group of economic powers are on board for a restructuring of Ghana’s debt and Paris Club members are ready to take the first step towards forming a creditor committee, an official from the Paris Club told Reuters. Read More

Ghana’s Production Inflation Drops by Over 20 Percent
This figure represents a 25.9 percent drop in the production price index, from 78.1 percent recorded in November to 52.2 percent recently reported for the month of December. Read More

FEC Approves Additional N1.9trn to Reconstruct 44 Roads
The Federal Executive Council (FEC), at its first meeting in 2023, approved the proposal by the Federal Ministry of Works and Housing for the Nigerian National Petroleum Company and its subsidiaries to invest NGN 1.9 trillion (approx. USD 4 billion) for the reconstruction of 44 selected federal roads across the country. Read More

FG Awards NGN 2.2 Billion Contract for Local Assemblage of Magnus Training Aircraft
The federal government has finalised arrangements towards the local assemblage of Magnus aircraft in the country within the next 18 months. Read More

NGN 120 Billion Spent on Subsidising Electricity Consumers in 2022
The federal government said it paid N120 billion in 2022 subsidising electricity consumers in selected bands, including  C,D and E, down from a N552 billion peak before the Muhammadu Buhari administration took over. Read More

3 Firms List NGN 1.324 Tillion New Shares On NGX
The Nigerian Exchange listed NGN 1.324 trillion (approx. USD 2.9 billion) new issues of equities from three companies on its floor in 2022. 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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