7 March 2023
Eastern Africa
Ethiopian, Qatari Foreign Affairs State Ministers Hold Bilateral Discussion
Foreign Affairs State Minister Ambassador Misganu Arega held a fruitful bilateral discussion with State Minister for Foreign Affairs of the State of Qatar , Soltan bin Saad Al-Muraikhi. Read More

Visit of Pakistani Delegation to Ethiopia Crucial to Strengthen Bilateral Relations: DPM & FM Demeke
The historic Pakistani business delegation visit to Ethiopia to explore investment opportunities in the country is crucial to strengthen the bilateral relations between the two countries and attract investors to Ethiopia, Deputy Prime Minister and Foreign Affairs Minister Demeke Mekonnen said. Read More

Qatar Announces 60 Million USD Financial Contribution to Doha Programme of Action
Sheikh Tamim ibn Hamad Al Thani, Emir of Qatar announced a 60 million USD financial contribution to Doha Programme of Action during his keynote opening address at the Fifth UN Conference on the Least Developed Countries in Doha. Read More

Pakistani Business Delegation Arrives in Addis Ababa to Explore investment Opportunities in Ethiopia
A business delegation consisting of more than 70 Pakistani investors has arrived in Addis Ababa last night to explore business and investment opportunities in Ethiopia. Read More

5 Banks to Issue Letters of Credit for UAE Fuel
Five local banks have been picked to issue letters of credit of up to KES 614.89 billion (approx. USD 4.8 billion) for fuel that Kenya will import on credit from the United Arab Emirates over a nine-month period. Read More

Infrastructure Bond Set to be Oversubscribed.
March’s infrastructure bond whose auction closes is set to be oversubscribed as investors attach to high yields, currently being offered by government papers. Read More

Local Firms Fill Gap Left by De La Rue
Local firms have stepped in to fill the vacuum left by De La Rue in chequebook printing as the lenders begin to turn to the lesser-known securities printers to meet new cheque orders. Read More

Twiga Leads Private Firms' Queue at Galana Kulalu
The William Ruto administration has started handing out parts of Kenya's multi-billion food security project to private investors, signalling a policy shift from former President Uhuru Kenyatta’s tenure. Read More

Rwanda Among Top 10 African Countries in Global Soft Power Ranking
Rwanda is ranked among the top 10 African countries in the 2023 Global Soft Power Index, released by Brand Finance, a leading independent brand valuation and strategy consultancy. Read More

Payday Launches Payment Service for Starlink Internet Users in Rwanda
Payday, a Kigali-based fintech banking startup, has launched a payment service that will enable Rwandans to pay for Starlink high-speed internet. Read More

Rwanda, Zimbabwe Correctional Services Commit to Sharing Best Practices
Rwanda and Zimbabwe correctional services have amended and signed the existing Memorandum of Understanding and committed to sharing best practices and enhancing their cooperation. Read More

Organ Donation Law Expected to be Operational in May
A new law that will allow Rwandans to donate their vital organs when they die, is expected to get operational in a matter of weeks, according to the Ministry of Health. Read More

Tanzania Reveals New Strategy to Promote Horticulture
Finally, the government has said it will act decisively on the abandoned horticulture estates in Arusha in its new bit to boost the multi-million dollar industry. Read More

Dar es Salaam to host Toastmasters International in May
Tanzania has been earmarked to host the Toastmasters East African Conference from 19 May to 21st 2023 in Dar es Salaam. Read More

ZIC Unveils Motor Vehicle Insurance for Women
Zanzibar Insurance Corporation (ZIC) has unveiled a new motor vehicle insurance cover for women as part of celebrations to mark global Women’s Day. Read More

Puma Eyes 20 Percent Market Share in Five Years
Puma Energy plans to scale up its market share in the country to 20 percent from 15.2 percent in the next five years. Read More

Survey Records Reduced Activity in Agriculture, Construction

Decline in agriculture, construction and industry activities weakened economic performance during February, according to a survey by Stanbic Bank. Read More

Malaba Fuel Clearance Delays Resolved, Government Says
The Ministry of Energy has said delays experienced in clearing fuel transporters and truck drivers at Malaba and Busia border points last week resulted from an operation to weed out collusion by some people who were attempting to bypass the system.  Read More

84,966 Ugandans Left for Middle East in Search of Jobs in 2022
At least an average of 7,724 migrant workers left Uganda per month in 2022 in search of employment in the Middle East, according to data from Ministry of Gender, Labour and Social Development. Read More

New Property Company, RentBeta to Drive Online Property Deal
RentBeta, is a digital financial solutions platform for managing rental properties and has been launched, tailored with extra service focused on making life easier for both landlords and tenants through online interactions. Read More
Northern Africa
Polish Deputy Minister of Foreign Affairs expected in Algiers on 13 March

Diplomatic relations, particularly in economic terms, between Algeria and Poland, are set to rebound. Read More

German Company Relocation Movement: A Boon for Algeria’s Economy
The COVID-19 crisis and the war in Ukraine, with all its constraints on the global economy, are pushing European and German companies to relocate their supply chains. To this end, they are mobilizing to repatriate, in whole or in part, their production equipment from China or other Asian countries for purely economic reasons. Read More

Agriculture: Sunflower Cultivation Launched in March
Secretary-General of the Ministry of Agriculture and Rural Development, Hamid Bensaâd, announced on Sunday in Algiers, the launch of the national sunflower growing program in March, with the aim of reducing the import bill for this product and achieving self-sufficiency in table oil. Read More

Pharmaceutical Industry: Financing Opportunities for Exporting Companies Examined
Pharmaceutical Industry Minister Ali Aoun received a delegation from the International Islamic Trade Finance Corporation in Algiers to examine financing options for domestic companies’ export activities, including to African markets, the ministry said. Read More

Energy Security, Transition to Dominate CERAWeek Energy Forum

On the theme of “Navigating a Turbulent World: Energy, Climate and Security,” the influential global energy forum CERAWeek is kicking off here on Monday, focusing on the dual challenges of meeting the world’s growing energy demand while reducing emissions. Read More

Egypt’s Exports to African Markets Planned to Hit USD 15 Billion
Egypt plans to increase its exports to Africa to reach up to USD 15 billion in the upcoming years by training Egyptian exporters on how to deal with the African markets, identifying the markets’ needs and increasing the exporters’ access to African markets. Read More

Grand Egyptian Museum Hosts 10th Edition of Rise Up Summit
RiseUp, a company specialized in entrepreneurship, held a press conference to announce the details of the 10th edition of the “RiseUp Summit 2023”, which comes in a completely new way under the slogan “Stay Realistic”, which is scheduled to be held at the Grand Egyptian Museum from 16 to 18 March 2023. Read More

Egypt Offers to Sell 10 Percent of Government's Stake in Telecom Egypt
Egypt is offering a 10 percent government-owned stake in Telecom Egypt for sale, according to sources who spoke to Reuters. Read More

Morocco’s UM6P, Engineering Firm Capgemini Join Forces on Green Energy
Morocco’s Mohammed VI Polytechnic University (UM6P) announced signing a Memorandum of Understanding with French engineering, and consultancy firm Capgemini Engineering for the exchange of expertise on green energy storage solutions. Read More

Aeronautic Company Hutchinson to Open New Production Site in Morocco
French international company specializing in aeronautics and car parts announced plans to inaugurate a new production site in Casablanca. Read More

Morocco Has North Africa's Most Enabling Business, Legal Environment for Women
While Morocco lags behind worldwide in terms of creating an enabling business and legal environment for women, the country remains a top performer at a regional level. Read More
Southern Africa
Malawi Wants Opec Fund Triple Portfolio
President Lazarus Chakwera has requested the Opec Fund for International Development to consider increasing its resource envelope to Malawi to enable the country to meet its development agenda, the 2063 vision. Read More

Treasury Outlines Public Debt Risks
Ministry of Finance and Economic Affairs says the current composition of the country’s public debt, which stood at MWK 7.9 trillion (approx. USD 7.8 billion) as at December 2022, is prone to a number of risk factors. Read More

Huawei Technologies Joins Unesco Talent Cultivation
Huawei Technologies has joined the United Nations Educational, Scientific and Cultural Organisation (Unesco) Global Alliance for Literacy as part of the company’s lead up to the Mobile World Congress 2023. Read More

MWK 505 Billion to Cushion Vulnerable Malawians
Finance Minister Sosten Gwengwe has said government, with support from the World Bank, has set aside USD 489.76 million to cushion vulnerable Malawians in the wake of economic hardships. Read More

South Africa
Big Problem for Airports in South Africa Resurfaces Thanks to Load Shedding
Over the past weekend, the Airports Company South Africa reported that low jet fuel supply reserves at Cape Town International Airport had been restored after load shedding stalled the airport’s largest supplier. Read More

Kgosientsho Ramokgopa Named as the New Mr Fixit
President Cyril Ramaphosa has reshuffled his cabinet, replacing David Mabuza as deputy president with ANC deputy leader Paul Mashatile and announcing Kgosientsho Ramokgopa as minister for electricity. Read More

Bullish Bidvest Gears Up to Diversify Automotive Business
Industrial conglomerate Bidvest has announced an expansion of its automotive division with a second-hand vehicle brand to be launched in April, in a move to bring scale and diversity to the unit. Read More

Manufacturing, Mining and Agriculture Drive Provinces’ Real Economic Growth
The contribution of SA’s provinces to the real economy varied substantially, with manufacturing still the dominant driver of growth followed by manufacturing and agriculture, a study shows. Read More

Modern Cooking Facility for Africa Welcomes the European Union as a New Donor in Zambia
The European Union and Sweden join hands to fund the Modern Cooking Facility for Africa (MCFA) in Zambia, supporting the programme’s expansion and further development to scale up access to clean and modern cooking solutions in the country. Read More

ZRA to Manage Kasumbalesa Border as Government Assures of Job Security
The Zambia Revenue Authority (ZRA) has taken over the management of the Vehicle Traffic Management System at Kasumbalesa Border Post following the transfer of the facility to the government. Read More

Zambia Revives Key Road Project with New Chinese Contractors, Lower-Cost Credit
Zambia has replaced contractors and financing agreements for a project to upgrade a key highway, hoping the new deal will enable it to walk a debt tightrope and serve the economic purposes of the revamp. Read More
Western Africa
AGM Relinquish South Deep Water Tano (SDWT) Block
AGM Petroleum Ghana and its owners have decided to relinquish the South Deep Water Tano block after carefully considering all options. Read More

Italy to Host Global Fruits and Veggies Industry
Stakeholders within the fruit and vegetables value chain across the world will converge at the Rimini Event Centre, Italy for this year’s edition of the Annual MacFrut Exhibition. Read More

Aquaculture Industry Lament Over High Cost of Feed
Stakeholders in the aquaculture industry are lamenting over the increasing cost of fish feed and materials in the market. Read More

ePayment Channels Fail Stress Test Despite Banks’ NGN 901 Billion Profit
Amid huge financial turnover recorded in the first three quarters of 2022 by banks in the country and claims of NGN 100 billion (approx. USD 217 million) investment in electronic channels, digital banking has remained very challenging for many Nigerians in the last few weeks since the introduction of the new cash policy. Read More

5 States Get Highest Allocation as FG Shares NGN 41.79 Billion Ecological Fund
Data from the Federation Account Allocation Committee showing revenue distribution from the NGN 41.79 billion (approx. USD 91 million) Ecology fund to the 36 states has shown five states got the highest allocation in 2022. Read More

199 Non-Oil Export Firms to Receive FG’s NGN 309 Billion Grant
The Federal Government has approved disbursement of NGN 308 billion (approx. USD 700 million) worth of promissory notes to 199 exporting companies. Read More

Cost Efficiency Pushes Transcorp Hotels Profit to NGN 4.5 Billion
Transcorp Hotels, the hospitality subsidiary of Transcorp Group, has stated that its sustained efforts to enhance cost efficiency has pushed the company’s 2022 full year profit before tax to NGN 4.5 billion (approx. USD 9.7 million). 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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