16 December 2022
Eastern Africa
Nation Working on Food Systems Transformation
Ethiopia is working on Food Systems Transformation to address bottlenecks starting from production to market, a Food Systems Senior Advisor at the Ministry of Agriculture said. Read More

Peace Agreement Step Forward to Boost Economic Climate in Ethiopia 
The peace deal between the Government of Ethiopia and TPLF plays pivotal role in creating better political stability and conducive economic climate in the country, European Investment Bank Representation Head Eleni Kyrou said. Read More

USA Should End All Sanctions on Ethiopia, Restore Status of AGOA
The western countries, mainly the U.S., should end all sanctions immediately and restore status of Ethiopia to the African Growth and Opportunity Act (AGOA), the American political-economic analyst Freeman told ENA. Read More

PM Abiy Holds Discussion with US Trade Representative, Ambassador Katherine Tai
On the sideline of US Africa Leaders’ Summit, Prime Minister Abiy had a good meeting with US Trade Representative, Ambassador Katherine Tai to discuss ways of expanding US-Ethiopia trade relations, Abiy twitted. Read More

KRA in Dilemma Over Ruto Directive on Seizing Property
The Kenya Revenue Authority (KRA) faces a legal dilemma in the wake of President William Ruto’s directive to the taxman to go slow on issuing distress orders that trigger asset seizures of suspected tax evaders. Read More

Kenya Drops in Ranking of Africa Visa Friendly States
Kenya slid further in the latest Africa visa-friendly ranking, indicating increased difficulty for businesspeople and holidaymakers from the rest of Africa to visit the country. Read More

Treasury Shrugs Off Credit Downgrade as Debt Haunts Kenya
The Treasury has downplayed the impact of Kenya's poor ratings on its debt repayment capability, accusing global rating agencies of "subjectivity." Read More

Safaricom in KES 38 Million Boost for Healthcare 
Safaricom and MPESA Foundations have unveiled KES 38 million (approx. USD 309,000) investments to provide Homa Bay County hospitals with maternal health facilities. Read More

Kagame, Ndayishimiye Attend Regional Talks on DR Congo
President Paul Kagame participated in a meeting convened by East Africa Community (EAC) Chair and Burundian President Evariste Ndayishimiye, to review and exchange views on the implementation of Luanda Roadmap and Nairobi Peace Process. Read More

Kagame, Benin President Explore Greater Ties
President Paul Kagame met with his Benin counterpart, Patrice Guillame Talon, for discussions centered around existing cooperation between the two countries. Read More
Central Bank Rejects Move to Ban Third Party Cheques
The Governor of the National Bank of Rwanda, John Rwangombwa has dismissed claims that there is a ban on third party cheques after a cross section of people claimed their banks refused to encash them. Read More

Upcountry Schools Outperform City Schools
The Ministry of Education has released 2022 senior six national examinations results, with upcountry schools dominating the list of best performing students. Read More

NMB Bank in Financial Inclusion Drive with New Account
NMB Bank has further simplified the process of opening a savings account as it ups the use of digital channels to foster Tanzania’s financial inclusion agenda. Read More

NBC’s TZS 300 Billion Goal in Sight as Bond Oversubscribed by 30 Percent
The National Bank of Commerce said its bond was oversubscription by 30 percent after the issuance was positively received in the market. Read More

Firm Linked to Kabanga Nickel Sets Sights on Global Market
Tanzania’s mining industry is set for more global exposure after Lifezone Metals, the parent company of locally based Tembo Nickel, is set to list at the New York Stock Exchange (NYSE) after the completion of a series of transactions. Read More

BoT Suspension Denies Yetu Microfinance TZS 4 Billion Deal
Yetu Microfinance Bank’s suspension by the central bank has denied the pro-poor lender a chance to raise TZS 4.0 Billion (approx. USD 1.7 million) through a corporate bond on Mauritius’ Afrinex Exchange. Read More

Govt Ready to Reopen Facebook, Says UCC
Uganda communications Commission (UCC) has said government is waiting on Facebook to resolve outstanding issues before it is fully reopened. Read More

Deposit Protection Fund Now Able to Pay 20.9 Million Accounts
The Deposit Protection Fund has indicated that deposits of at least 20.9 million account holders are now insured and can fully be paid in the unlikely failure of the banking system. Read More

Airtel Money Slashes Transaction Charges for Sending Money to Other Networks by Up to 95 Percent
Airtel Mobile Commerce Uganda has announced a 95 percent drop in Airtel Money charges for transactions across other networks. Read More

IGG Recovers Over UGX 30 Billion in Two Years
The Inspectorate of Government (IGG) investigated 26 high-profile corruption cases and directed the recovery of over UGX 30 billion (approx. USD 8.1 million) since July 2020. Read More
Northern Africa
Ministry of Economy Follows Up on Made in Algeria Exhibition Preparations

Minister of Economy and Trade, Mohamed Al-Hawij, met with the Algerian Ambassador to Libya, Suleiman Chenine, to follow up on the preparations for the (Made in Algeria) Exhibition, scheduled to be held in Tripoli. Read More

Algeria Exports 120 Tons of Building Materials to Libya
A private Algerian company has announced the export of 120 tons of building materials to Libya, after the country's authorities announced achieving self-sufficiency in these materials. Read More

Readout of Secretary Raimondo’s Meeting with Prime Minister Aymen Benabderrahmane of Algeria
Secretary of Commerce Gina Raimondo met with Prime Minister Aymen Benabderrahmane of Algeria at the U.S.-Africa Business Forum. Read More

Egypt’s Planning Minister, Orange Group Discuss Expanding Investments

Minister of Planning and Economic Development Hala El-Said met this week with Chief Executive Officer of Orange Group Christel Heydemann to discuss upgrading the company's telecommunication infrastructure. Read More

Energy Efficiency Is the Best Way for Industry to Cut Costs and Reduce Emissions Right Now
Energy efficiency is not an if, it’s a must. It is a simple and impactful solution to a very complex existential crisis. Read More

SCZone to Offer Investment Opportunities in Technology Valley Next Year
Walid Gamal El-Din, the Chairperson of the Suez Canal Economic Zone (SCZone), has met a delegation of the American Chamber of Commerce in Cairo to discuss the agency’s investment opportunities. Read More

Egypt, Saudi Arabia Discuss Strengthening Bilateral Cooperation in Tourism
Egypt’s Minister of Tourism and Antiquities Ahmed Issa met with Director General of International Relations at the Saudi Ministry of Tourism, Sultan bin Muhammad Al-Musallam, on the sidelines of the 25th meeting of the Arab Ministerial Council for Tourism at the Arab League in Cairo. Read More

OCP Africa Launches Soil Mapping Project in Kenya
OCP Africa announced a partnership with Kenya’s Ministry of Agriculture and Livestock Development to launch soil mapping exercises for over 100 participants. Read More
Southern Africa
Trade Balance Improves in Third Quarter
Malawi’s merchandise trade balance improved by 52 percent in the third quarter of 2022, thanks to a jump in exports coupled with constrained imports, the latest Reserve Bank of Malawi (RBM) Financial and Economic Review has shown. Read More

Savings Rate on Deposits Declines
Commercial banks’ savings rate on deposits is fast declining currently at 3.67 percent, a situation analysts say is undesirable as it cannot attract more deposits, thereby affecting consumers’ ability to save. Read More

Fimda Urges Sustainable Forex Reserves Buffer
Financial Market Dealers (Fimda) Association says Malawi needs long-term strategies to improve foreign exchange reserves to achieve a sustainable and sound foreign exchange reserves position. Read More

Puma Energy Says 184 Solar Sights Now Operational Across its Network
Puma Energy says it has 184 solar power generation projects operational across its network and is on track to hit its target of opening 200 solar projects this year. Read More

Hotels and Restaurants’ Recovery Influences Economic Growth in Quarter 3
The relaxation of Covid-19 prevention and containment measures in the country is already having positive effects in the hospitality sector. Read More

South Africa
MTN Falls the Most in Two Years as it Nears Deal with Potential Fintech Investors
The market took a dim view of MTN’s announcement it remains on track to possibly close a deal with investors for its financial services business in the first quarter of 2023, with the share price falling the most since December 2020. Read More

SA’s Total Employment Edges Up in the Third Quarter
SA’s employment improved in the latest quarter, in line with the latest GDP growth, offering a bright spot in the domestic economy weighed down partly by load-shedding. Read More

Oil Declines After Section of Major Keystone Pipeline Restarts
Oil slipped after rallying almost 9 percent over the previous three sessions as TC Energy Corp. restarted a section of the Keystone pipeline, allowing for some flows to resume on the major conduit. Read More

Shoprite Cries Foul Over Pick n Pay’s More Favourable Compcom Agreement Over Leases
Pick n Pay has two more years to phase out its exclusive leases as the anchor tenant in malls than Shoprite and Checkers, who feel the disparity is unfair.  Read More

Millers Want FRA to Offload Maize on the Market as Prices of Mealie Meal Escalates on the Copperbelt
The high cost of transporting maize from other provinces, leading to high mealie meal prices on the Copperbelt has prompted the Millers Association of Zambia (MAZ) to solicit for Food Reserve Agency (FRA) maize from within the province. Read More

US Firm Announces a USD 150 Investment in Mining Exploration and Development
A US based mining firm, with its partners, has announced a 150 million United States dollars investment in mining exploration and development in the Mingomba deposit and support towards Lubambe Copper Mine in Chililabombwe town in the Copperbelt Province. Read More

FAO Raises Red Flag on Antibiotics
The growth of Zambia’s livestock sector is at risk unless corrective measures are taken to increase awareness on promoting good practices and responsible use of antibiotics, whose use makes animals to be drug-resistant, says a survey conducted by Food and Agriculture Organisation (FAO). Read More

Zanaco Expands its Digital Footprint
In its quest to offer basic banking services to unbanked communities across the country, Zanaco Xpress distribution currently stands at over 21,000 agents that have also resulted in creation of over 30,000 jobs. Read More
Western Africa
Cote d'Ivoire
Readout of Secretary Raimondo’s Meeting with Prime Minster Patrick Achi of Côte d’Ivoire
at the U.S.-Africa Business Forum, Secretary of Commerce Gina Raimondo met with Prime Minster Patrick Achi of Côte d’Ivoire. Read More

Saudi Arabia's Ambassador to Cote d'Ivoire Hosts 55th Meeting of Arab Ambassadors Accredited to the Republic
Ambassador of the Kingdom of Saudi Arabia to the Republic of Côte d'Ivoire, Abdullah bin Hamad Al-Subaie, hosted Wednesday the 55th meeting of Arab ambassadors accredited to the Republic of Côte d'Ivoire. Read More

Tullow Signs Production Sharing Contract for New Offshore Exploration Licence in Côte d’Ivoire
Tullow Oil is pleased to announce the signing of a Production Sharing Contract for offshore exploration licence CI-803 in Côte d’Ivoire. Read More

Firering Records Further Near-Surface High-Grade Assays at Côte d'Ivoire Project
Exploration company Firering Strategic Minerals says it has received a positive final set of assay results from its maiden scout diamond drill programme at its flagship Atex lithium/tantalum project, in Côte d'Ivoire. Read More

Government Can’t Support Minimum Compliance Requirements for IMF program – Adongo
The Member of Parliament for Bolga Central, Isaac Adongo has said Ghana’s debt remains unsustainable and as such cannot support the minimum compliance requirement of the IMF to secure a program. Read More

Kenya Introduces Its Tea Brands in Ghana Through AfCFTA Market 
Kenya has introduced its brands of tea in Ghana through the African Continental Free Trade Area (AfCFTA) market. Read More

Bitcoin Technology Centre Opened in Kumasi   
The Built with Bitcoin Foundation has inaugurated a training centre in Kumasi to educate Ghanaians especially the youth about a bitcoin circular economy. Read More

SYNLAB Ghana Opens New Head Office 
SYNLAB Ghana, a leading provider of laboratory diagnostic services, has opened its new ultra-modern head office situated at Shiashie in Accra. Read More

FG Approves New Whistleblower Bill, Cancels Tax Holiday
The Federal Government, approved a new whistleblower draft bill. It also lamented that the existing whistle-blowing policy launched on 21 December 2016, was losing momentum. Read More

New Naira Notes Trigger Marginal Gain for Local Currency
The naira strengthened against the dollar, trading at NGN 745/USD from NGN 750/USD it closed last week. Read More

Firms, Individuals Refuse to Pay NGN 5.2 Trillion Debts – Minister 
The Minister of Finance, Budget, and National Planning, Zainab Ahmed, said the Federal Government was owed approximately NGN 5.2 trillion (approx. USD 11.6 billion) in debts. Read More

NPA, NIMASA Charging Oil Marketers in Dollars
A member of the petroleum committee in the House of Representatives, Sergius Ogun, has disclosed how petroleum products marketers pay for logistics services in dollars despite that the Federal Government has prohibited local transactions in foreign currency. Read More
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.

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