17 August 2022
Eastern Africa
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

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, 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'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

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
Northern Africa
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

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
Southern Africa
Commission Upbeat on Tobacco Output Target
Market regulator Tobacco Commission says it is upbeat of surpassing the targeted 140 million kilograms of tobacco next year and has date registered farmers to grow 30 million kilograms. Read More

Cannabis Growers Move to Raise MWK 9.4 Million Licence Fee
About 536 local farmers have formed Lupanda Cooperative in a bid to raise MWK 9.4 million (approx. USD 9,100) for medicinal hemp licence, which they argue is prohibitive. Read More

Cotton Rakes in MWK 8 Billion
Earnings from cotton have risen to K8 billion this season from MWK 3.6 billion (approx. USD ) realised at the end of the 2021 season, officials from the Cotton Council of Malawi have said. Read More

Comesa Nods to Sobo Acquisition
The Common Market for Eastern and Southern Africa (Comesa) has approved the transaction between Coca-Cola Beverages Africa and Castel Malawi, in a business move where the former is acquiring the latter’s soft drinks business. Read More

Government Selects Investor for the Exploitation of FACIM – Notícias Report
The government will shortly announce the winner of the public tender to requalify the existing International Centre for Fairs and Exhibitions (FACIM) and build additional infrastructure. Read More

South Africa
Iran to Set Up 10 Trade Centers in Africa to Boost Trade Ties
Seyyed Mohammad-Sadegh Ghannadzadeh made the remarks in the first meeting of the House of Iran and Africa, held in Tehran at the initiative taken by the Trade Promotion Organization of Iran, and stated that the contract between Iran and South Africa will be signed by the end of the year in the field of air lines to bolster bilateral trade and economic activities. Read More

South African Rand Firmer before Local Retail Sales, Fed Minutes
The South African rand was slightly firmer in early trade on Wednesday, ahead of local retail sales figures and U.S. Federal Reserve minutes due to be released later in the day. Read More

Rate Hikes Still on the Cards Despite Fuel Price Cuts
The biting interest rates hikes in South Africa may not be slowing down anytime soon in spite of the big petrol price drop expected in September to ease the elevated consumer prices. Read More

Saab Launches New Workplace Acceleration Programme for South African Graduates
In order to combat the growing challenge of graduate unemployment, Saab Grintek Defence, the South African subsidiary of the Swedish defence and security company, has partnered with the Sisekelo Institute of Business and Technology to launch its first ever 2022 Graduate Workplace Acceleration Programme for 15 of the country's 2021 graduates. Read More

Experts Adopt Report Recommendations to Implement Regional Industrial Policies
Experts from the Economic Commission for Africa, Sub-Regional Office for Southern Africa and the Government of Zambia held a two-day National Action Planning workshop from 10th to 11th August 2022 on the alignment and harmonization of regional and national frameworks on industrialization. Read More
Western Africa
Cote D’Ivoire
Côte d’Ivoire Agrees EUR 200 Million Deal for ECA-Backed Clean Water Project
Authorities in Côte d’Ivoire have agreed a EUR 200 million transaction with KfW Ipex-Bank, Swedish Export Credit Corporation and Bluebird Finance & Projects to install clean water systems across more than a thousand villages. Read More

Don’t Implement New Customs Law – Vehicle Dealers Urge Government
The Vehicle and Assets Dealers Union of Ghana (VADUG) has called on government to stop the scheduled implementation of the Customs Amendment Act 2020 (Act 891) effective September1, 2022. Read More

EOCO to Go After Tax Defaulters
The Economic and Organized Crime Office (EOCO) has indicated that it will go after tax defaulters in order to recover revenue for the state. It has thus assured that it will be working closely with the Ghana Revenue Authority. Read More

Country’s Economic Outlook Worrying – GNCCI Calls on Government to Support Industry
The Ghana National Chamber of Commerce and Industries (GNCCI) is worried over the rising debt, the cost of doing business and the recent downgrade of the country’s economy by some rating agencies. Read More

Global Citizen Festival in Accra Launched
The international advocacy organisation, Global Citizen, has officially launched its Global Citizen Festival expected to take place on 24 September in Accra. Read More

Reps Query Agriculture Ministry’s NGN 18 Billion Bush-Clearing Contracts
The House of Representatives’ Committee on Public Accounts is investigating the Federal Ministry of Agriculture over the award of contracts worth about N18.9bn to several companies to clear bushes during the COVID-19 lockdown. Read More

FG to Launch USD 750 Million World Bank-Backed Programme
The Presidential Enabling Business Environment Council, unveiled its plans to kickstart a USD 750 million World Bank-funded programme in January next year. Read More

262 Farmers Receive NGN 82.4 Million Loan from USAID
No fewer than 262 smallholder farmers under the USAID-funded Feed the Future Nigeria Rural Resilience activity, received NGN 82.4 million (approx. USD 196,000) to boost food sufficiency in the region and the country in general. Read More

Fuel Subsidy Hits NGN 1.593 Trillion, Refinery Rehabilitation Gulps NGN 54.66 Billion
Latest data on the amount spent in subsidising Premium Motor Spirit, popularly called petrol, seen in Abuja on Monday showed that the government subsidised the commodity with N1.593tn between January and June 2022. Read More
Click Here to Subscribe to Our Newsletter
Africa This Morning is ALN’s daily newsletter that gives a round-up of the top news making headlines across Africa. It focuses on business news and any other happenings set to impact doing business and investing in the region. The above are updates and do not constitute legal advice.

Financial Times
Business Daily Africa
Daily Nation, Kenya
New York Times
Daily News, Tanzania

CNBC, South Africa
Independent Uganda
Daily News, Egypt
Sudan Commerce News
Sudan News Agency
Copyright © 2022 ALN, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp