Ethiopia
IATA Prioritizes Air Cargo Sustainability, Modernization, Safety, People
The International Air Transport Association (IATA) highlighted four priorities (air cargo sustainability, modernization, safety and people) to build resilience and strengthen air cargo’s post-pandemic prospects. Read More

Frontier Technologies Key to Aviation Sustainability, Resilience
Demonstrating how emerging technologies can deliver a sustainable and resilient recovery for the international air transport system, the 2022 ICAO Innovation Fair has helped set the stage for the opening of the UN agency’s 41st Assembly. Read More

Kenya
New Agency to Guide Struggling NSE Firms
The newly formed Kenya Development Corporation has signed a deal with the Capital Markets Authority to offer advisory services to listed companies facing turbulent times. Read More

How Plunging UK Pound Against Dollar is Affecting Kenya
A unit of sterling pound has fallen below KES 130 levels against the shilling for the first time since the peak of Covid restrictions, portending lower cost of imports from the UK, while hurting export earnings for farm produce to that European country. Read More

Film Board Wins Court Battle on Alcohol Adverts Manufacturers
The Court of Appeal has upheld a decision giving the Kenya Film Classification Board the mandate to regulate TV advertisements promoting alcoholic drinks. Read More

Sidian Pens Guarantee Deal for Health Sector SME Loans
Sidian Bank has signed an agreement with two US agencies for cover against defaults on health sector SME loans worth KES 965 million (approx. USD 8 million). Read More

Rwanda
University of Kigali Appoints Professor Felix Maringe as Deputy Vice Chancellor – Academic
The Board of Promoters of University of Kigali is pleased to announce the appointment of Professor Felix Maringe as Deputy Vice Chancellor, Academic effective 1 October 2022. Read More

Over 90 Percent Pass Primary Leaving Exams
The Ministry of Education has released results for Primary Leaving Examinations and Ordinary Level for candidates who did national examinations for the academic year 2021-2022. Read More

World Bank: Improved Internet, Innovation Could Boost Rwanda’s Service Trade
With more investment in internet infrastructure and technological innovation, Rwanda could benefit more from increased trade in services, asserts the World Bank. Read More

Visit Rwanda Launches Instagram Citizen Science Program for Mountain Gorilla Conservation
The Rwanda Development Board through Visit Rwanda has launched a new innovative use of technology to protect and conserve mountain gorillas and promote sustainable and responsible wildlife tourism in the country. Read More

Tanzania
Dar es Salaam, Washington Launch ‘Business Fact-Finding Mission’ to Mainland, Isles
The US Embassy in Tanzania and the Ministry of Investment, Industry and Trade have jointly launched the U.S. Business Fact-Finding Mission to Mainland Tanzania and Zanzibar. Read More

Tobacco Farmers Smell Fortune
Tobacco growers in Tanzania should have all reasons to smile as Japan Tobacco International has pledged to purchase 30 million kilogrammes of the cash crop from farmers during the forthcoming farming season. Read More

TBS, TMEA Ink TZS 9 Billion Deal to Improve Ease Doing Business
Tanzania Bureau of Standards (TBS) has signed an agreement with TradeMark East Africa (TMEA) worth TZS 9 billion (approx. USD 3.9 million) to help traders do business basing on standards for easy access to the market. Read More

‘No Need to Pay VAT on Purchases at Dar es Salaam, Zanzibar Ports’
Neither traders nor consumers are required to pay Value Added Tax (VAT) on their purchases at Dar es Salaam and Zanzibar ports, the House of Representatives was told here. Read More

Uganda
Housing Finance Bank Launches Online Government Securities Portal that allows Customers to Invest on the Go
Housing Finance Bank officially launched its Government Securities Portal with a campaign dubbed “Invest on The Go” at Mestil Hotel and Residences, Kampala. Read More

Behind the Increase in Sugar Price
Local sugar consumers should brace themselves for further increases in price for the sweet commodity owing to a fall in production volumes amidst an increase in export volumes, according to industry players and experts. Read More

Tracking Industry Seeks Deepen Insurance Uptake
In a move to deepen insurance penetration in the country, Real Time Tracking a leading GPRS Services Provider in the country, is willing to partner with insurance sector players, including the industry regulator to drive the uptake of insurance. Read More

NSSF Declares 9.65 Percent Interest for Members
State Minister for Finance Henry Musasizi declared that the National Social Security Fund (NSSF) would pay 9.65 percent as interest on members’ savings for the financial year ended 2021/2022. Read More

Algeria
Algerian Minister to Visit Morocco in First Trip Since Diplomatic Freeze
Algeria's justice minister will visit rival state Morocco to hand an official invite to the Arab Summit in November. Read More

Egypt
Cost of Constructing Metallic Silicon Complex in New Alamein Reaches USD 700 Million
Head of the Egyptian Petrochemical Holding Company, Saad Helal, said that executive steps are being taken to establish a complex of metallic silicon and its derivatives, with an investment cost estimated at USD 700 million. Read More

Sisi Directs CBE's Governor to End Obstacles to Import, Manufacture Within Two Months
President Abdel Fatah El-Sisi directed the Governor of the Central Bank of Egypt, Hassan Abdullah, to end all obstacles facing import and local manufacturing operations, resulting from the Russian-Ukrainian crisis, within two months. Read More

EUR 2.7 Billion Volume of Trade Exchange between Egypt, Spain in 2021: Industry Minister
Minister of Trade and Industry Ahmed Samir said that Spain is one of the most important commercial partners for Egypt in the European Union as the volume of trade between both countries exceeded EUR 2.7 billion (approx. USD 2.6 billion) in 2021 in comparison to EUR 2.1 billion (approx. USD 2 million) in 2020 with 31.3 percent increase. Read More

CAPMAS: 85.4 Percent Increase in Number of Tourists During 1st Half of 2022
Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) said that the number of arriving tourists from all over the world reached 4.9 million tourists during the first half of 2022 compared with 2.6 million tourists in the same period of the previous year. Read More

Morocco
Morocco’s UM6P Launches U-Founders Incubation Program
Morocco’s Mohammed VI Polytechnic University launched the Demo Day of the third cohort of the U-Founders incubation program on 23 September in Benguerir in the Marrakech-Safi region.  Read More

Three Moroccan Health-Tech Startups Selected for Pan-African Incubator Program
Pan-African Initiative Investing in Innovation (i3) has selected three Moroccan health tech startups, Sobrus, Deepecho, and Medevice Technological Diagnosis, for its first cohort. Read More

Morocco's Central Bank Hikes Interest Rates for First Time in 14 Years
Morocco’s central bank, Bank Al-Maghrib announced raising central bank interest rates by 0.50 points to 2 percent, in response to the lingering supply chain bottleneck and rampant inflation. Read More

Morocco’s Tiznit-Dakhla Highway Mega Project Nears Completion
The Tiznit-Dakhla highway infrastructure mega project is steadily progressing, with 70 percent of the work already accomplished. Read More

Forex Deficit Haunts Firms
Foreign exchange shortages in Authorised Dealer Banks have forced commercial banks to continue rationing the hard cash, a situation which is crippling operations of businesses, it has emerged. Read More

Fund Says 42 Percent of Youths Benefit from MWK 43.8 Billion Loans
National Economic Empowerment Fund says 42 percent of the youth have benefited from the MWK 43.8 billion (approx. USD 42 million) soft loans disbursed thus far. Read More

Reserve Bank of Malawi Profit Down by MWK 11.2 Billion
Profit before foreign exchange revaluations for the Reserve Bank of Malawi went down by MWK 11.2 billion (approx. USD 11 million) in 2021 to MWK 51 billion from MWK 62.2 billion (approx. USD 49 million from 60 million) in the preceding year. Read More

Icon Profit up 47 Percent to MWK 4.5 billion
Half year profit-after tax for Malawi Stock Exchange-listed property development and management firm, Icon Properties plc, increased by 47 percent to MWK 4.5 billion from MWK 3.1 billion (approx. USD 4.4 million from 3 million) posted during the same period last year. Read More

Mozambique
East Africa: Tanzania and Mozambique Join Hands to Explore Hydrocarbons
Tanzania and Mozambique have agreed to cooperate on 15 issues stressed during President Samia Suluhu Hassan’s visit to the neighboring country. Read More

Gemfields Achieves USD 4.2 Million in Revenue at September Auction
Gemfields Group said that it achieved revenue of USD 4.2 million at the latest auction for sapphires, corundum and low-quality rubies from its Montepuez mine in Mozambique. Read More

South Africa
Eskom Board Members Told There is a Shake-Up Ahead
Under intense criticism from business leaders, opposition parties and the public after nearly three straight weeks of power outages, the government is planning a shake-up of Eskom’s board, which has drawn scrutiny for its lack of engineering expertise. Read More

Full-Time Employment Plummets in Second Quarter
Employment in SA’s formal sector fell sharply in the second quarter, confounding expectations in the wake of the government’s recently announced energy reforms that are aimed at spurring economic growth. Read More

FDI Drops in Second Quarter as Investors Ditch South Africa
South Africa’s foreign direct investment fell in the second quarter below that of the first as investors hunted for other destinations for their money due to rising geopolitical tension sparked by Russia’s invasion of Ukraine. Read More

Remgro Delivers a Robust Recovery
Remgro delivered a robust recovery as it came off a low base due to the Covid-19 pandemic. The group was boosted by stronger earnings at most of its underlying investee companies. Read More

Zambia
ZDA Secures UCF USD 400 Million Investment
To avoid crowding out the private sector from accessing liquidity in the domestic market, Government has yet again declined to borrow more than its limit during the treasury bills auction. Read More

Fisheries Key Players Want Self-Regulation
The Aquaculture Development Association of Zambia has called on Government to support self-regulation of the aquaculture industry in the country to allow the private sector to play a leading role in regulating the sub-sector. Read More

Nalumango Calls for Strong Policy Framework to Prevent RTAs
Vice President, Mutale Nalumango, has directed relevant ministries to strengthen the policy framework on the prevention of road traffic accidents for public transport operators in the country. Read More

Government Plans to Extend Zambezi River Source Forest Cover
Government plans to extend the forest cover at the Zambezi River source in Ikeleng’i district by 1,700 hectares in order to protect and sustain the existence of the river source. Read More

Nigeria
World Bank to Raise USD 127 Billion for Mini-Grid Power Funding
The World Bank Group will be raising USD 127 billion for mini-grip power funding by 2030. Read More

CBN Mulls Raising Capital Base for Fintechs Above NGN 2 Billion
The Central Bank of Nigeria (CBN) is considering raising the capital base for Financial Technology firms (Fintechs) as the market share controlled by the payment platforms begin to expand. Read More

Will CBN Harmonise Rates as Premium Narrows to NGN 283/USD?
World Bank and International Monetary Funds have called on the Central Bank of Nigeria (CBN) to unify the different exchange rates in the country. Read More

FEDA Raises USD 670 Million to Boost Business
The Fund for Export Development in Africa (FEDA), an investment arm of the African Export-Import Bank announced its first close of USD 670 million across its four fund strategies. Read More