Ethiopia
Nation Earns Close to USD 514 Million from Gold Exports in 11 Months
Ethiopia has generated USD 513.9 million from the export of gold in the past 11 months of the current Ethiopian fiscal year, according to Ministry of Mines. Read More

NBE Announces 35 Percent Increase of Gold Buying Price from Artisan Suppliers
The National Bank of Ethiopia announced it has increased the price of gold buying rate from artisan suppliers to 35 percent over the global gold price with a view to boosting foreign currency earnings. Read More

Organizations Venture to Mobilize Finance for Africa’s Infrastructure
The African Development Bank, Africa50, and the newly launched Africa Sovereign Investors Forum have signed a letter of intent to collaborate on developing green and climate resilient infrastructure projects across Africa. Read More

Kenya
World Bank Shields Kenya from Costly Foreign Debt
Kenya has relied heavily on the World Bank Group for foreign funding since January on the back of a relatively high-interest international market that saw the Treasury shun expensively-priced commercial loans. Read More

Kenyan Tea Exports Hit KES 41 Billion on Good Prices
Kenya’s tea export grew by 20 percent in the first quarter of the year backed by good prices, which helped to offset a significant decline in volumes. Read More

Kilifi Firm Inks Pakistan Syringe Export Contract
The Pakistani government has imported three consignments of five million syringes from Revital Healthcare Limited, a pharmaceutical company in Kilifi. Read More

Nairobi's Green Park Test Runs to Last Until Sunday
Nairobi turned into a walking city with commuters being forced to walk to work following the rollout of the final trial run at Green Park terminus ahead of its launch. Read More

Rwanda
Kadaga Attends Commonwealth Business Summit in Rwanda
The First Deputy Prime Minister and Minister of East African Community Affairs, Rebecca Alitwala Kadaga, attended the Commonwealth business summit ahead of the 26th Commonwealth Heads of Government Meeting in Rwanda. Read More

Algeria
Qatari, Algerian Traders Call for Robust Ties to Boost Trade
Algerian and Qatari businessmen have stressed the need to strengthen partnerships between companies in Algeria and Qatar, especially in strategic areas, and to boost the volume of trade exchange. Read More

Egypt
DRC Discusses Cooperation with Egypt’s Arab Organisation for Industrialisation
Congolese Secretary-General for Defence Isidore Kaumbu Yankole met with Chairperson of the Arab Organisation for Industrialisation Abdel Moneim Al-Terras in Cairo. Read More

Saudi Fund Chief says Keen on Working in Egypt Especially in Generating Renewable Energy Field
CEO of the Saudi Fund for Development Sultan Al-Marshad asserted that the fund is keen on working in Egypt especially in the projects of generating renewable and clean energy as well as food security. Read More

Tangible Rise in Egypt's Exports to International Blocs in 2021 - IDSC
The cabinet's Information and Decision Support Center (IDSC) said the value of Egypt's exports to international blocs, of which the country is a member, hit USD 35 billion in 2021 with a 22 percent increase, compared to the volume of imports which reached USD 38 billion. Read More

Triple M Plans to Acquire 1.5 GW of Solar, Wind Energy Projects in Egypt
Triple M plans to take over the work of projects producing electricity from renewable energy with a capacity of 1.5 GW inside and outside of Egypt. Read More

Morocco
Morocco has 100 Percent Electricity Penetration Rate, Highest in Africa
Morocco is among a short list of three African countries with an electricity penetration of 100% as of 2022, according to a new report. Read More

Spanish Investors Share Plans for Infrastructure Projects in Dakhla
Spanish investors announced their plans to construct an international clinic and two hotel units in Dakhla during the Morocco-Spain Investment Forum. Read More

Lekjaa: Electronic Platform Transactions’ Exclusion from Customs Exemptions Is for ‘Tax Justice’
The exclusion of customs exemption transactions done via electronic platforms aims to promote “tax justice,” said Fouzi Lekjaa, Minister Delegate in charge of the Budget. Read More

German Car Parts Manufacturer Debuts in Morocco’s Tangier
German car part manufacturer, Stahlschmidt International Holdings, officially launched its first manufacturing units in one of Morocco’s biggest industrial zones in Tangier, the Automotive City Area. Read More

Revitalise Oil Industry to Promote Industrialisation
It is said that there is an opportunity in adversity. The unfortunate war between Russia and Ukraine can provide an opportunity for local oil farmers and manufacturers to capitalise on the shortage of vegetable oil in the international market. Read More

Fuel Levy Revenue Rises to MWK 74 Billion, Figures Show
Fuel levies collected by Malawi Energy Regulatory Authority have increased by MWK 5 billion (approx. USD 5 million) in the 2021/22 financial year to MWK 74 billion (approx. USD 73 million), published figures have shown. Read More

IFC Outlines Firms’ Growth Support
The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has expressed willingness to support the growth of small and medium enterprises to graduate them into large corporates. Read More

Mozambique
Cabo Delgado and MozParks sign an Agreement
The Government of Cabo Delgado Province and MozParks Holding signed a Memorandum Of Understanding to promote the sustainable industrialisation and local content in Cabo Delgado province. Read More

Mozambique’s Cooking Oil Imports Cost USD 74 Million in Quarter One
Mozambique Imported cooking oil worth USD 74.4 million during the first quarter of this year, at a time when the government has as one of its stated priorities the replacement of imports through local production. Read More

Private Sector Calls for Lower Interest Rates
The Confederation of Mozambican Economic Associations and the African Development Bank are seeking solutions to mitigate the impact of rising interest rates, which makes it difficult for companies to honor their commitments to the banks. Read More

South Africa
South Africa ends Covid Curbs Including Mask Wearing
South Africa has put an end to Covid curbs including the wearing of face masks. Health minister Joe Phaahla published a notice in the Government Gazette repealing the country’s Covid–19 regulations. Read More

Kenyan Carrier in Cargo Deal with South African Airways
Kenya Airways (KQ) has started ferrying cargo on behalf of South African Airways with which it signed a pact last year to establish an African airline by 2023. Read More

Beleaguered Tourism Industry Begs State to Remove Red Tape
The tourism industry says the government needs to resolve a “bureaucratic disaster”, as accredited tour guides are unable to acquire licences to operate tour vehicles. That is despite the industry having spent five years trying to resolve the impasse with the department of transport. Read More

Markets Price in More Rate Hikes After CPI Exceeds Forecasts
SA’s annual consumer inflation for May accelerated well above market expectations, amid relentless increases in food and petrol prices further strengthening the case for another 50 basis points hike in the repo rate by the SA Reserve Bank in July.  Read More

The Cabinet Secretary for the National Treasury and Planning issued the Value Added Tax (Digital Marketplace Supply) (Amendment) Regulations, 2022 (the DMS Amendment Regulations), through a Legal Notice dated 4 April 2022 which was published in the Kenya Gazette on 27 May 2022. Read More