Ethiopia
GERD Vital to Extricate People from Poverty: Ethiopia’s Ambassador to France
The Great Ethiopian Renaissance Dam (GERD) is a project of development, cooperation and clean energy, Ethiopia’s Ambassador to France said. Read More

Innovative Initiative to Transform African Agriculture
Endowed with a budget of USD 19.6 million until 2025, AATI is dedicated to improving sustainable development in Africa by bridging the gap between the formulation of strategic agricultural initiatives and their successful implementation at local level. Read More

AUC Launches Malaria Conversation Guide for Youth
The African Union Commission (AUC), Department of Health, Humanitarian Affairs and Social Development launched the first continental conversation guide on malaria for youth in Africa. Read More

Kenya
Counties Eye KES 18 Billion in Equalisation Fund
More than KES 18 billion (approx. USD 151 million) meant for provision of basic services in marginalised areas has been lying idle at the Treasury for the past nine years due to delays in the formulation of guidelines, late project identification and legislative hurdles. Read More

Stock Market Defies Disputes Over Presidential Poll Results
The Nairobi Stock Exchange on Tuesday defied the political uncertainty following the rejection of the presidential election results by the opposition that split the electoral commission and signalled a Supreme Court battle. Read More

KES 40 Billion Terminal Shapes Port Battle
Before the launch of the new KES 40 billion (approx. USD 335 million) Kipevu Oil Terminal in Mombasa, the old facility that had been in existence for six decades could only handle 35,000 tonnes of cargo at a time. Read More

Kenya Power to Avoid Cash Pay for Solar from Homes
Kenya Power will not offer financial payment to homes and businesses that will supply excess solar power to the national grid at their cost. The homes will offset the cost of excess solar power injected into the grid against bills of electricity they receive from Kenya Power, according to fresh regulations. Read More

Rwanda
Rwanda, World Bank Ink USD 129 Million Education Deal
Rwanda and the World Bank have signed an additional financing agreement worth USD 129 million to among others support the government’s efforts to improve teacher competence and student retention. Read More

Central Banks Raise Lending Rates to Manage Inflation
The war between Russia and Ukraine has taken a toll on the Rwandan economy, leading to a sharp increase in the prices of imported commodities including oil, gas, fertilisers, and sunflower seed oil. Read More

How the Central Bank’s Increased Repo Rate will Tame Soaring Inflation
The National Bank of Rwanda has announced its decision to increase the key repo rate, the policy rate it applies on the money market, from 5 to 6 percent in a bid to tame soaring inflationary pressures. Read More

Tanzania
Tanzania's economy grows by 5.4 Percent
Despite the spillover effects of the war in Ukraine and lingering impact of Covid-19, Tanzania’s economy grew by an impressive 5.4 percent in the first quarter of 2022. Read More

Edenville Signs Deal with Mine Operator Brahma
Edenville has signed an agreement with Brahma Energies, it announced, to secure production and sales of at least 4,000 tonnes of washed coal per month at its Rukwa Coal Project in Tanzania, potentially rising to at least 6,000 tonnes after two months. Read More

Empowering Female Sunflower Farmers
Farm Africa is working in northern and central Tanzania to support women’s participation in the sunflower value chain, increasing female farmers’ productivity and linking them to lucrative markets. Read More

Tanesco in Joint Venture with UAE’s Masdar
Tanzania's utility firm Tanesco has entered into a joint venture with a United Arab Emirates company to generate a further 2,000MW of electricity using renewable sources by 2024. Read More

Uganda
CBR Might Be Increased Further, Says Bank of Uganda
According to Bank of Uganda, the monetary policy might be tightened even further if inflationary pressures persist to ensure that inflation reverts to its medium-term target of 5 percent. Read More

Egypt
Egypt Exerts Efforts to Become Hub for Clean Energy - Electricity
Minister of Electricity and Renewable Energy Mohamed Shaker asserted Egypt is exerting tireless efforts to become a clean energy hub in the African continent. Read More

Finance Minister: Utmost Efforts to be Exerted to Serve Citizens
Finance Minister Mohamed Maait stressed that he will do his best to contribute to building the "new republic" as President Abdel Fattah El Sisi renewed confidence in him in view of the recent cabinet reshuffle. Read More

Newly Appointed Trade Minister Prioritises Improving Competitiveness of Egyptian Product, Deepening Local Manufacture
Newly appointed Minister of Trade and Industry Ahmed Samir expressed his keenness to advance industry and foreign trade sectors and to move forward with all files managed by the ministry in a way that benefits the national economy. Read More

Egypt, Canada Emphasise ‘NWFE’ Programme as Key Enabler for Climate Action
Egypt’s Minister of International Cooperation Rania Al-Mashat received Harjit S. Sajjan, Canada’s Minister of International Development, in Cairo. Read More

Morocco
Study: School Supplies to Cost Moroccan Families Over 100 Percent of Monthly Income
Due to the rise in school supply costs, Moroccan families will have to pay more than 50 percent of their total monthly income to cover each child’s basic school supplies, a report by the digital payments service WorldRemit has indicated, noting that the average family in the country has 2.29 children. Read More

Study: Morocco, World’s Most Cash-Reliant Country
A recent study published by the British website Merchant Machine concluded that Morocco is leading the world’s top 20 countries reliant on cash payments in 2022, with 74 percent of transactions in the North African country being cash-based. Read More

Moroccan Exports of Handicrafts Increased by 21 Percent in July 2022
Compared to the same period a year earlier, the exports of Moroccan handicrafts have increased by 21 percent in the first seven months of 2022, generating a volume of MAD 595.7 million (USD 56.7 million) against MAD 494.2 million (USD 47.1 million) in 2021. Read More

World Bank: Climate Disasters Cost Morocco More than USD 500 Million Annually
Presenting the results of its recent climate resilience program, the World Bank says that Morocco is among countries with a high level of exposure to climate disaster. Climate-induced disasters including floods, earthquakes, and drought currently cost Morocco more than half a billion every year, notes a new report from the World Bank. Read More