19 September 2022
Eastern Africa
Ethiopia Recognises Coffee Farmers, Exporters after Record Breaking Year
President Shale-work Zewde has lauded the key players in coffee production and export after Ethiopia garnered a historic-high revenue from export. Read More

Investors Urged to Increase Engagement in Local Pharmaceutical Manufacturing
Ethiopia is using all market options available in Djibouti since the country’s have long-standing political and socio-economic relations, Ethiopia’s ambassador to Djibouti said. Read More

Trade Expo Will Open Eyes, Minds of Ethiopian, Indonesian Businesspersons: Ambassador Basnur
The Trade Expo Indonesia that takes place next month will opens the eyes and minds of Ethiopian businesspersons about Indonesia’s potential and Indonesian businesspersons eyes and minds about the economic potential of Ethiopia, Indonesia’s Ambassador to Ethiopia Al Busyra Basnur said. Read More

Ethiopian Crowned with Two Prestigious Awards at Air Cargo News Awards 2022
Ethiopian Cargo & Logistics Services, the largest air cargo network operator in Africa, has been crowned with ‘Cargo Airline of The Year’ and ‘Best Cargo Arline – Africa’ at the Air Cargo News Awards 2022. Read More

Ruto Faces Return of Costly Foreign Loans in First Year
The Treasury has said Kenya will find it challenging to sustain reliance on multilateral lenders like World Bank Group for external funding, signalling a return of costly foreign loans in the first year of the new administration. Read More

ICT, Finance Drive Corporate Deals in East Africa
The number of corporate deals in East Africa rose by 40 percent in the first eight months of the year compared to the corresponding period in 2021, driven by venture capital investments in ICT and financial services sectors. Read More

Coffee Earnings Jump by KES 10 Billion in 11 Months on Back of High Volumes
Kenya’s coffee earnings in the 11 months to August 2022 increased by KES 9.8 billion (approx. USD 81 million) boosted by higher volumes and better prices in the international market on the back of a shortfall in supply from leading producer Brazil. Read More

Friendlier Taxman Still Elusive
The Kenya Revenue Authority’s bid to be friendlier to taxpayers has been an elusive goal despite a decade long effort to soften the taxman. Read More

Create an Enabling Environment for African Youth to Realise Their Full Potential – Kagame
President Paul Kagame has said that Africa’s prosperity lies in the hands of an entrepreneurial youth and that they should be supported to unleash their full potential. Read More

Cybersecurity firm Bizoneer Partners With EMT Distribution to Introduce Best Practices in Cyber Space
As Rwanda embarks on a digitalisation journey, cyber-attacks are becoming an issue of concern, according to Bizoneer Consulting Rwanda-Africa Ltd, the largest cybersecurity service provider in the country. Read More

UGHE Unveils Institute of Global Health Equity Research
The Institute of Global Health Equity Research which is part of the University of Global Health Equity (UGHE) was officially launched, with an ambition to become the epicenter of the creation and dissemination of
global knowledge focused on the eradication of global health inequities. Read More

Govt Hails Barrick for Successful Implementation of Local Content Policy
The Commissioner of the Mining Commission in the country, Janet Lekashingo, has commended Barrick for successful implementation of the local content policy aimed at benefitting locals in the mining project operations. Read More

Pula Group Reiterates Commitment to Green Energy
The US-based Pula Group has opened an office in Dar es Salaam with strong commitment to play key role in the green energy revolution. Read More

NBC Touts for Technology Driven Banking Services
The National Bank of Commerce (NBC) has met corporate customers in Arusha to discuss business opportunities, introduce the bank’s new services and update clients with a suite of technologically driven products and services that simplify banking and enhance the customer experience. Read More

China Trade Week Attract 50 Firms
China Trade Week Tanzania will bring over 50 Chinese companies to showcase about 300 products from seven sectors such as consumer electronics, industrial, medical, textiles, garments, beauty and construction aims to facilitate trade cooperation in the country. Read More

Kenya’s New Move on SGR to Upset Uganda and China
This week’s order by Kenyan President William Ruto to revert cargo clearing services to the port of Mombasa could upset China and Uganda, the port’s biggest clients, and trigger anxiety among major players who depend on it. Read More

Former Masaka LC V Chair Cautions District Against Selling Headquarters
Joseph Kalungi, the former Masaka District LC V Chairperson has cautioned his successors against the proposed sale of the district headquarters purportedly to get money to build a new home. Read More

Cybersecurity is Weakest Link in Ugandan Banks, Telecoms
An expert study on the status of cyber-security reveals wide-ranging levels of vulnerability at leading organisations that handle large volumes of personal data. Read More
Northern Africa
Algeria invites Iraqi President, PM to attend Arab summit

The Iraqi president, Barham Salih, received an official invitation to attend the Arab summit scheduled to be hosted by Algeria next November. Read More

Lebanese Investors Keen on Tapping Egyptian Market: Official

Lebanese investors are interested in doing business in Egypt, said chairman of the Lebanese economic entities Mohamed Shuqair. Read More

Lack of Liquidity Represents EGX's 1st Challenge: Rami El-Dokany
Lack of liquidity represents the first challenge facing the Egyptian Stock Exchange (EGX), according to the Head of the bourse, Rami El-Dokany. Read More

Al-Mashat Highlights NWFE Program, Sharm El-Sheikh Guidebook for Just Financing, Egypt’s Debt Swap Experience in UNESCWA
Minister of International Cooperation, Rania A. Al-Mashat participated in the “Towards COP27: Arab Regional Forum, High-Level Panel on Mobilizing Climate Finance'' session held by the United Nations Economic and Social Commission for West Asia. Read More

Egypt's Sovereign Fund Secures EGP 25.5 Billion Investments in 2021, Studies 44 Projects Worth EGP 140 Billion
Sovereign Fund of Egypt succeeded, despite global challenges, in implementing and signing binding agreements for implementation for 10 projects during 2021, with total investments of EGP 25.5 billion (approx. USD 1.3 billion), according to the Executive Director of the Fund, Ayman Soliman. Read More

FitchRatings: Moroccan Fertilizer Prices to Increase Amid Supply Constraints
The American rating agency FitchRatings announced revising their price outlook for fertilizers upwards due to the continuing supply constraints and the expected recovery in demand. Read More

Morocco Remains an Agrifood Importer Despite Strong Agricultural Potential
Morocco remains a major importer despite its significant potential in the agri-food sector, says a new analysis by a Moroccan think tank. Read More
Southern Africa
Malawi Gets USD 250 Million Export Enquiries at Moz Fair
Malawi has received about USD 250 million of export enquiries for various commodities through its participation at the recent Maputo International Trade Fair in Mozambique, officials have announced. Read More

Mera Assures of Diesel Normalcy
Malawi Energy Regulatory Authority (Mera) chief executive officer Henry Kachaje says players in the fuel marketing business are making every effort to ensure normalised availability of diesel. Read More

South Africa
Eskom to Procure Emergency Additional Energy
Following an urgent board meeting while Stage 5 load shedding was biting, Eskom will start to urgently procure additional energy from existing independent power producers. Read More

JSE to Open Amid Weaker Markets in Big Week for Reserve Banks
The JSE is due to start the week off with red screens from Asia as it tracked Wall Street’s losses on Friday. Read More

Gateway Theatre of Shopping to Get Multi-Million Rand Upgrade
Following its 21st birthday celebration, Gateway Theatre of Shopping in uMhlanga in KwaZulu-Natal has announced a multi-million-rand upgrade of the Great Hall around its entrance axis and two adjacent vaulted wings. Read More

Absa Could Challenge Competition Tribunal’s Order to Reopen Sekunjalo Accounts
Absa said it “respectfully disagrees” with the Competition Tribunal’s ruling that it must reopen four Sekunjalo Group bank accounts, and it is considering taking legal action to keep them closed. Read More

Common Framework Asks BlackRock, Other Bondholders to Cancel Some of Zambia’s Debt
The Common Framework on Zambia’s debt restructuring has called on the country’s bondholders to fully engage in a large-scale debt restructuring, “including significant haircuts”. Read More

Government to Continue Employing Health Professionals in a Phased Manner
The government has said that it will continue with the employment of health practitioners in a phased manner. Read More

Zambia Considering Setting Up a Pharmaceutical Manufacturing Plant
Health Counsellor at the Zambia High Commission in India, Victor Mukonka, says Zambia is exploring prospects of setting up a pharmaceutical manufacturing plant which will ensure availability of drugs at a reduced cost. Read More

Hakainde Hichilema to Attend the 77th Session of the UN General Assembly
President Hakainde Hichilema will travel to New York to attend the 77th Session of the United Nations (UN), General Assembly, from 18 to 22 September 2022. Read More
Western Africa
Cote d'Ivoire
Smart Africa Digital Academy launches of its National Digital Academy in Côte d’Ivoire
Smart Africa’s capacity-building arm, the Smart Africa Digital Academy continues to expand its footprint in Africa, with Côte d’Ivoire being the latest country to benefit from the digital skills development initiative. Read More

Smart Africa Digital Academy launches of its National Digital Academy in Côte d’Ivoire
The Board and Management of the State Interests and Governance Authority has held a three-day Board Retreat to deliberate on measures aimed at supporting Specified Entities to become profitable, efficient and compliant. Read More

BoG to Sell USD 420 Million to Authorised Dealers in Final Quarter of 2022
The Bank of Ghana will sell a total of USD 420 million to authorised dealers in the final quarter of this year, in its Foreign Exchange Forward Auction. Read More

Forty Under 40 Awards: 137 Nominated for 2022 Edition
Xodus Communications, the organisers of Forty Under 40 Awards and other prestigious Awards on the continent have officially shortlisted 137 finalists out of 265 entries that were submitted for the sixth edition slated for October 1, 2022, at the Kempinski Gold Coast Hotel in Accra. Read More

Small Scale Mining Contributes 40 Percent of Ghana’s Gold Produce; Let’s Address it Tactfully – Abu Jinapor 
The Minister for Lands and Natural Resources, Samuel Abu Jinapor, has advised that operators of small scale mining in the country must be treated with tact. Read More

SIGA Holds Board Retreat to Discuss Strategic Measures for the Improvement of Specified Entities
The Board and Management of the State Interests and Governance Authority has held a three-day Board Retreat to deliberate on measures aimed at supporting Specified Entities to become profitable, efficient and compliant. Read More
NGX Group May Pay Up to 75 Percent Net Earnings as Cash Dividends
The Nigerian Exchange Group may pay between 25 percent and 75 percent of its net earnings as cash dividends. Read More

Nigeria Becomes First African Board Member of Global Securities Services Body
Nigeria has been appointed unto the board of International Securities Services Association (ISSA); the global body for the securities services industry. Read More

Lagos, FSDH to Explore More PPP Financing for Healthcare
FSDH Merchant Bank and Lagos State Government will continue to expand the scope of existing partnership between them to unlock more innovative financing solutions for the development of the healthcare sector. Read More

SEC to Boost Commodities Market Development  
The Securities and Exchange Commission has expressed its commitment to developing the commodities ecosystem in Nigeria to boost its non-oil sector. Read More
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