21 September 2022
Eastern Africa
Ethiopia Boosted its Coffee Exports Last Year
In the Ethiopian calendar year 2014 (2021/22), Ethiopian coffee exports reached an all-time high, generating USD 1.4 billion in revenue through sales of 300,000 metric tons of coffee during the last 12 months. Read More

State Allocates KES 3.6 Billion for Fertiliser Subsidy Plan
The Treasury has allocated KES 3.6 billion (approx. USD 30 million) for the fertiliser subsidy programme following a presidential directive last week to bring down the cost of the commodity by nearly half. Read More

Court Freezes New Sportpesa Licence Amid Shareholder Row
The High Court has stopped the use of the SportPesa brand in Kenya’s gaming business amid shareholder fights in a ruling that deals a blow to Milestone Games that had been allowed to run the popular brand. Read More

Shelter Afrique Approves KES 2.2 Billion for DRC Office, Housing Projects
Pan-African housing financier Shelter Afrique has approved an USD 18.5 million corporate loan to a Democratic Republic of Congo-based developer for three housing projects. Read More

Kakuzi to Ship Second Avocado Consignment to China
Listed agricultural firm Kakuzi is set to ship its second consignment of avocadoes to China after securing pre-shipment approvals from the Kenya Plant Health Inspectorate Service. Read More

Over Two Million Children Under 11 to Get Covid Jabs
Rwanda has started administering the Covid-19 vaccine to children aged between five and 11 years and it is expected that over two million children will benefit from the drive countrywide. Read More

Why EAC Exchange Rates are high
High currency exchange fees during cross border transactional payments are impacting regional trade, business analysts have said. Read More

BancABC Launches a Deposit Campaign with Up-Front Cash
BancABC Tanzania, which is part of Atlas Mara, yesterday launched a customer drive deposit campaign where customers will get up to 11 percent interest up-front for one year, on structured fixed deposit accounts. Read More

Tanzania Scraps Levies Imposed on Electronic Transactions
The Government has scrapped the levies imposed on electronic money transfer from bank to mobile and within the same financial institution, Minister of Finance and Planning, Dr Mwigulu Nchemba has announced in Dodoma. Read More

MTN Uganda Joins League of Africa’s Top 250 Companies
MTN Uganda’s bold decision to list its shares on the Uganda Securities Exchange last year has propelled it to the league of Africa’s most valuable companies. Read More

SafeBoda Starts Car Hailing Services
SafeBoda has launched its car-hailing service — SafeCar. The company is bringing its expertise in the boda industry to revolutionise the car and taxi industry in Uganda and Nigeria.  Read More
Northern Africa
King Salman Receives Invitation from Algerian President to Attend Arab Summit

Custodian of the Two Holy Mosques King Salman has received an invitation from Algeria’s President Abdelmadjid Tebboune to attend the Arab Summit in Algeria in November 2022. Read More

Foreign Ministry Promotes Tourism in Egypt in Company of 12 Accredited Ambassadors in Cairo

The ambassadors met with Major General Khaled Fouda, governor of South Sinai, and also visited the "Ras Mohammed Reserve" to learn about the city's excellence in tourism and Environment at the global level. Read More

Negotiations for Egypt to Obtain New Financing Progressing According to Set Schedule: IMF
Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund, said that negotiations to obtain new funding are continuing with Egypt and things are progressing according to the set schedule. Read More

Inertia Focuses on Increasing Project Delivery, Implementation Rates in 2022: CEO El-Adawy
Ahmed El-Adawy, CEO of Inertia Egypt, a real estate developer, said that the company is focusing on increasing its implementation and delivery rates of its projects as it plans to increase the number of delivered units this year to 1,600. Read More

Delta University Partners with Coursera to Prepare Students for Jobs
Coursera, a global online learning platform, announced that it is partnering with Delta University for Science and Technology to provide students with job-relevant, multi-disciplinary online learning and equip them with the necessary skills for in-demand jobs through the Coursera platform. Read More

Bio-Maroc: Morocco Obtains New Organic Certification
Morocco has obtained the certificate of admission for the Moroccan organic standard “Bio-Maroc,” indicating its alignment with the IFOAM, Organics International standards. Read More

Wealth Report: Morocco Holds Africa’s Third-Largest Luxury Market
Morocco is currently home to Africa’s third-largest luxury market, with a total of USD 125 billion in private wealth, says a new report from the consulting firm Henley & Partners. Read More

Morocco’s Imports of French Soft Wheat to Reach 5 Million Tonnes in 2023
In a bid to offset the sharp drop in Morocco's cereal harvest, the North African country’s imports of soft wheat from France are forecasted to stand at 4.5-5 million tonnes in 2023. Read More

Mehdi Sahel: New Managing Director of Alstom Morocco
Alstom Morocco, a subsidiary of the French multinational operating in transportation, announced the appointment of Mehdi Sahel as their new managing director. Read More

Secretary-General of Ministry of Foreign Affairs Meets Sudanese Official
HE Secretary-General of the Ministry of Foreign Affairs Dr. Ahmed bin Hassan Al Hammadi met with HE Governor of the Darfur region in the Republic of Sudan Mini Arko Minawi. Read More
Southern Africa
Government Secures 230,000 Tonnes of Fertiliser
Secretary to the Treasury Macdonald Mafuta Mwale has broken silence on fertiliser supply for the 2022-23 season under the Affordable Inputs Programme, saying the government is purchasing 230,000 metric tonnes of the commodity. Read More

Maize Prices on the Rise, Says Ifpri
The International Food Policy Research Institute (Ifpri) says maize prices in some parts of the country keep on rising to as high as MWK 370 per kilogramme or MWK18 500 (approx. USD 1000) per 50 kg bag. Read More

IMF Recommends Subsidy Redesign
The International Monetary Fund (IMF) has proposed a redesign of the Affordable Inputs Programme to ensure that only those in need benefit from the initiative and in turn reduce high economic costs. Read More

Climate Change Worsening Poverty, Food Shortage—IMF
The International Monetary Fund (IMF) has warned that climate change effects are intensifying food insecurity in Malawi and other sub-Saharan African countries, imposing adverse macroeconomic effects, especially on economic growth and poverty. Read More

South Africa
Mines Want a Speedier Registration of 6.5GW Own-Power Projects
Mining firms are working to produce 6.5GW of renewable power to supply their operations, but the Minerals Council SA says the energy regulator needs to speed up the registration process for independent power projects. Read More

Bank Indicator Shows Load-Shedding Weighs on Third Quarter GDP Growth
Business activity was under significant pressure in July, falling the most in 10 months, as South Africa grappled with load-shedding which sometimes reached stage six, data from the Reserve Bank showed. Read More

Nasdaq Establishes Crypto Unit to Tap Institutional Investors
The Nasdaq is placing a big bet on the cryptocurrency market with the launch of a digital assets business that is aimed at tapping institutional investors. Read More

Lesaka Revenue Set to Double on Newly Acquired Business Connect Group
Financial services and technology group Lesaka, formerly known as Net1, expects to more than double revenue for this financial year, driven largely by a newly acquired business, as it continues efforts to revamp its scandal-ridden image. Read More

WWF Calls for Protection of Zambezi River Source
The source of Zambezi River should be protected against environmental degradation for Zambia to continue attracting energy and tourism investment, World Wide Fund for nature (WWF) Zambia country director Nachilala Nkombo has said. Read More

EU Project Removing Bottlenecks at Borders
Because of its central location, Zambia is increasingly becoming a trade hub in the sub-region, and its borders, which open up to other regional markets such as the Great Lakes, are becoming busier by the year. Read More

Gold Production Falls
Gold production dropped by 12 percent in the first half of this year to hit 1,463.56 kilogrammes, from 1,770kg recorded in the same period last year. Read More

Bond Auction Gets Oversubscribed
Government bond auction held last week was over-subscribed after receiving bids amounting to over ZMW 3.9 billion (approx. USD 246 million) against an offer of ZMW 2.6 billion (approx. USD 164 million) due to increased investor confidence following the International Monetary Fund announcement. Read More
Western Africa
Ghana's Economy Records 4.8 Percent Growth in 2nd Quarter - GSS
Ghana’s economy grew by 4.8 percent in the second quarter of the year, the Ghana Statistical Service has announced. Read More

G-Money Poised to Shape Digital Space – GCB Bank
The GCB Bank is poised to shape the country’s digital space with innovative products and services to drive the economy. Read More

Ghana Poised to Begin Debt Restructuring with Domestic Bondholders
Ghana is poised to begin talks with domestic bondholders on a restructuring of its local-currency or cedi debt. Read More

Vodafone, TotalEnergies Partner to Provide Free Wi-Fi to Customers at Service Stations
Vodafone Ghana has partnered with TotalEnergies Marketing Ghana to provide Wi-Fi for customers who visit service stations, lube bays, restaurants, and its newly launched electric vehicle charging docks. Read More

CBN: USD 200 Billion Policy Opens New Windows for Dollar Earnings  
The Central Bank of Nigeria (CBN) has said its USD 200 billion non-oil export revenue target policy has introduced new commodities to the market and created new channels for dollar earnings. Read More

World Bank’s Education Portfolios for 95 Nations Hit USD 24 Billion
In the face of educational funding crisis facing the country, the World Bank Group said its active funding portfolio for education in 95 countries now stands at USD 24 billion. Read More

NCC Deploys 84 Projects for Persons with Disabilities
The Nigerian Communications Commission has deployed 84 assistive information technology projects at different locations in Nigeria to support people with special needs while supporting policies that enable disadvantaged members of the society to live a more qualitative life. Read More

Buhari Seeks Senate Approval for NGN 402 Billion Promissory Notes
The President, Major General Muhammadu Buhari (Retd.), in separate letters to the Senate, sought approval for the issuance of promissory notes totaling over NGN 402 billion (approx. USD 3.3 billion) to three states. Read More
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