16 May 2022
Eastern Africa
PM Abiy Inaugurates Malt Production Factory at Bole Lemi Industrial Park
Prime Minister Abiy Ahmed inaugurated malt production factory by Invivo Group at Bole Lemi Industrial Park. The premier twitted that the investment by Invivo Group at Ethiopia’s Bole Lemi Industrial Park that we inaugurate is commendable.
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European Union Granting Most Favorable Trade Regime to Ethiopia: Delegation Head Kobia
EU has granted the most favorable trade regime to Ethiopia that the EU can offer to any country in the world, European Union Delegation Head in Ethiopia Roland Kobia told Ethiopian News Agency.
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French Company InVivo’s Malteries Soufflet Inaugurates Its Africa’s First Malthouse in Ethiopia
The French company Malteries Soufflet, a division of the InVivo Group, has inaugurated its first malt house in Africa, 28th for the company, which is located in the Bole Lemi industrial park in Addis Ababa, Ethiopia, in the presence of Prime Minister Abiy Ahmed.  
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Fuel Prices Hit Record High Despite Subsidy
Pump prices have shot to historic highs, with a litre of super petrol and diesel jumping by KES 5.50, signalling a further increase in the cost of basic goods and services.
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No Deal in Sight on Strategic Turkana Oil Investor Search
Canadian oil company Africa Oil has revealed that it is yet to reach a deal with interested investors in the Turkana Oil project, even as the clock to the final investment decision ticks.
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NSE Sheds KES 294 Billion in a Month as Foreigners Flee
Investors at the Nairobi Securities Exchange lost KES 294 billion (approx. USD 2.5 billion) in a month following a sell-off by foreigners that has pulled down the value of the bourse to a 20-month-low amid a profit and dividend boom.
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Costly Phones Slow Safaricom 5G Rollout
Costly 5G mobile phones have slowed down Safaricom’s expansion of superfast fifth-generation network and sites. Safaricom reckons that it will require a critical mass of handsets before a significant increase in 5G sites targeted at retail consumers.
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Meat Products Earn Tanzania TZS 79 Billion in Forex
Tanzania exported 9,000 metric tonnes of meat products to the Middle East during the fiscal year 2020/2021 which earned the country 36 US million TZS 79.2 billion (approx. USD 34 million) in foreign exchange.
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Government Reinstates Support to Industrial Investors
The government has pledged to provide necessary support to industrial investors so that they can grow and expand their investments to bolster the sector's contribution to country’s economic growth.
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Air Tanzania Signs Deal with Boeing
Air Tanzania Company and Boeing, an American multinational corporation, have signed a Memorandum of Understanding for the later to train the airline officials.
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British Companies Eye Tanzania as Investment Destination
A group of British companies working in clean energy, agriculture, healthcare and hotels have shown interest of investing in the country, thanks to government efforts to create good and friendly business environment.
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Uganda’s Bidibidi Refugee Settlement to Benefit from IOM and Innovation Norway’s Electronic Waste Management Project
The International Organization for Migration and partners have formally launched a project to transform management of solar electronic waste in Bidibidi Refugee Settlement situated in Uganda’s northwestern region.
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Ban Food Export, Says Planning Body
The National Planning Authority has advised the Government to temporarily ban the exportation of food products to address the increasing commodity prices in the country.
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Industrialisation Drives Infrastructure Development - Museveni
President Yoweri Museveni has assured Ugandans that there is a lot of surplus electric power yet to be consumed in many strategic areas of investment, particularly industrialisation.
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Northern Africa
Justice Minister Receives Algerian Ambassador
Justice, Islamic Affairs and Endowments Minister, Shaikh Khalid bin Ali Al Khalifa, received here today the newly-appointed Algerian Ambassador to Bahrain, Abdulhamid Ahmed Khoja.
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Algerian President Set to Visit Turkiye
Algerian President Abdelmadjid Tebboune is set to start an official 3 day visit to Turkiye. The visit will be Tebboune’s first visit to Turkiye since he came to power in 2019.
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Egypt's PM Most Prominent Statements at Press Conference Addressing Global Economic Crisis
Egypt will implement measures to deal with the global economic crisis, including strengthening the role of the private sector and announcing a program for the private sector partnership in state-owned assets at a value of EGP 10 billion (approx. USD 547 million) annually, according to Prime Minister Mostafa Madbouli.
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Etisalat Buys 9.8 Percent of Vodafone International for USD 4.4 Billion
Emirates Telecommunication Group Company bought a 9.8 percent stake in Vodafone International Group for USD 4.4 billion, according to Bloomberg. Read More

Start-Up Tech Company Specialising in Manufacturing Ventilators Puts Egypt on The Map
BioBusiness for Medical Devices, an Egyptian emerging tech company specialised in designing and manufacturing advanced electronic medical devices, announced the manufacture of its first 100 percent Egyptian ventilator with the latest technology, the BioVENT a Series.
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Minister of Communications Discusses with Stmicroelectronics its Investment Plans in Egypt
Amr Talaat, Minister of Communications and Information Technology, received Ricardo De Sa Earp, the Executive Vice President of STMicroelectronics, a world leader in electronics and semiconductor manufacturing.
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CEPSA Intends to Build Spain-Morocco Hydrogen Pipeline
CEO of Spanish energy company Cepsa Maarten Wetselaar has announced plans to build a pipeline to export hydrogen to Morocco. The pipeline is expected to connect Cespa’s San Roque refinery in Cadiz to Morocco.
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Plastics Manufacturer Erum Expands its Tangier Factory
Plastics manufacturing giant Erum has completed an expansion of its Tangier factory, inaugurating the new facility. The facility specializes in making plastic products for the clothing sector, such as plastic hangers.
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New Adient Automotive Seating Factory Opens in Morocco
A new Adient Automotive Seating factory was opened in Kenitra’s Industrial Acceleration Zone near Rabat. Minister of Industry and Trade Ryad Mezzour chaired the inauguration ceremony of the factory, which cost an estimated MAD 72 million (USD 7.13 million) to build.  
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Morocco, Hungary Trade Increased by 24 Percent in 2021
Trade between Morocco and Hungary reached USD 260 million in 2021, marking an annual growth of 24 percent, said Mihaly Varga, Hungary’s Minister of Finance.
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Southern Africa
Sugar Shortage Pushes Up Prices, Consumers Worried
Despite listed sugar manufacturer Illovo Sugar (Malawi) insisting that the product is now available with production up and running, major retail shops continue to ration the commodity, with others highly pricing it. 
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Analyst Speaks on Monetary Policy Stance
The recent monetary policy stance is a necessary step in order to ensure price stabilisation in the economy in line with the county’s planned budgetary benchmarks, an industry insider has said. 
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Consumption Levels at the Mercy of Rising Prices
Rising food prices have impacted households’ budgets by reducing consumption levels, resulting in declining welfare and counteracting improvements in economic growth, the World Bank has said. 
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MWK 1.36 Billion Livestock Lost to Floods-Institute
The Mwapata Institute says 25 444 livestock units estimated at MWK 1.36 billion were lost during the Cyclone Ana in Chikwawa and Nsanje districts. 
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Maputo Corridor Yields More Than USD 2 Billion in 10 years – Carta
The macroeconomic impact of the Maputo Logistics Corridor over the last 10 years is estimated at just over USD 2 billion in economic activities carried out in the country and the region. 
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Food Products Must be labelled in Portuguese by July – Government
Shopkeepers have until July to put labels in Portuguese on products sold in Mozambique, announced the National Inspection of Economic Activities. 
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South Africa
Indaba puts Energy, ESG and Economies in the Spotlight
The 2022 Investing in African Mining Indaba, being held in Cape Town, is seeing more than 6,500 industry leaders, experts, stakeholders and luminaries attending the live in-person event, together with senior government officials and heads of state, including Botswanan President Mokgweetsi Masisi and Zambian President Hakainde Hichilema. 
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Transnet Boosts Jet Fuel Supply as Railway Line Repairs Begin
Following the floods in KwaZulu-Natal, Transnet is adding 20 million litres of jet fuel to its supply between the National Petroleum Refiners of South Africa and OR Tambo International Airport as its railway line repairs begin. 
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Investment Veteran Mark Mobius Encouraged by South Africa’s Graft Fight
Mark Mobius, a veteran emerging-markets investor and co-founder of Mobius Capital Partners, said South Africa’s attempts to tackle corruption that’s stalled its economy for almost a decade are encouraging. 
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Tender Ban: Govt Bodies can Apply for Exemptions
Following an effective ban on new government tenders since end-February, Treasury has relaxed its approach. 
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Stanbic Support to Mining Hits USD 2 Billion
Stanbic Bank Zambia and Standard Bank Group have invested over USD 2 billion in Zambia’s mining sector in the last 10 years.
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Northwestern Energy, Zesco in Talks Over Supply Deal
Northwestern Energy Corporation Limited is in talks with Zesco Limited for a concession deal to supply power to Solwezi town in North-Western Province. 
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Border Infrastructure Upgrade to Boost Trade
The USD 6.8 million European Union-funded border infrastructure upgrade will enhance trade, reduce smuggling and contribute to increased revenue collections, says Zambia Border Post Upgrading Project manager Simon Ng’ona. 
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Mining Indaba Good Window for Zambia
ZANACO chief risk officer Mutisunge Zulu says the Africa Mining Indaba provides battery metal-rich countries like Zambia an opportunity to create trade relations with manufacturers of car batteries as the world revolves to the use of battery-propelled vehicles. 
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Western Africa
Ghana Government Subsidises Energy Sector with USD 1 Billion Annually – Economist
The Government has been supporting the energy sector with close to USD 1 billion annually since 2019, Mr Habibu Adam, a member of the Energy Sector Recovery Programme has said. 
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Chifeng Gold Group Secures USD 90 Million Funding to Expand Wassa Mine
Chifeng Jilong Gold Mining Limited has secured a USD 90-million funding to develop and expand Golden Star Resources Mines in Wassa. 
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Don't Stop using Mobile Money - GRA urges Public
The Ghana Revenue Authority has urged the public not to shun the use of mobile money and electronic transaction platforms in a bid to avoid the payment of the Electronic Transfer Levy, popularly known as E-Levy. 
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Agyapa Deal Revived: We Mustn't Drop It - Ofori-Atta
The Minister of Finance, Ken Ofori-Atta, has called for support for the Agyapa Deal to progress instead of it being abandoned. 
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Eni Increases Investments in New Energy Solution
Italian oil giant Eni has unveiled plans to increase the share of investments dedicated to new energy solutions up till 2040. 
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Apapa Port Rail Project Stalls as Seized Contrabands Block Track
The planned linkage of Nigeria’s biggest seaport in Apapa, Lagos with rail may have suffered setback as the Nigeria Customs Services has allegedly blocked the rail track with seized contraband goods. 
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Avoid Flip-Flop to Restore Confidence in Economy, FG advised
The Managing Director of FSDH Merchant Bank, Bukola Smith, has urged the government must avoid policy flip-flops to restore confidence in the economy with a focus on the investment market. 
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Rockefeller’s Gender Centre of Excellence Advocates inclusive Financial Services for Women
The Gender Centre of Excellence at the Rockefeller Philanthropy Advisors has reiterated the need for more inclusive financial services for Nigerian women. 
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