17 February 2023
Eastern Africa
FAO Supports ECX to Trade Wheat
The Food and Agriculture Organization (FAO) has donated 2.5 Million Birr to support the effort in incorporating wheat at modern trading system and providing warehouse receipt financing services with funds received from Italian Cooperation Agency, the Ethiopian Commodity Exchange disclosed. Read More

Ethiopia Participates in IFAD’s Annual Governing Council Session in Rome, Italy
Ethiopia has participated at the 46th session of the International Fund for Agricultural Development (IFAD) Governing Council held in Rome, Italy on 14 and 15 February 2023 under the theme “Accelerating Action for Food Security”. Read More

Ethiopia’s Wheat, Energy Exports Promote Intra-Africa Trade
Ethiopia’s recent commencement of wheat exportation and energy supply to neighboring countries promote African intra-trade, accelerating the implementation of the African Continental Free Trade Area (AfCFTA), AU Economic Development, Trade, Industry, Mining Commissioner Ambassador Albert Muchanga said. Read More

AfDB Gives Funding for Four-Lane Kisumu-Uganda Expressway
The East African Community has received KES 175.4 million (approx. USD 1.4 million) for a feasibility study on building a four-lane expressway for Kisumu to Uganda through Busia in an upgrade targeted to boost regional integration, trade and economic development. Read More

Treasury to Cap Spending at 75 Percent of Revenue Growth Rate
The Treasury will now cap expenditure growth at 75 percent of Kenya’s revenue growth rate, as the government plots to improve the exchequer’s chance at fiscal consolidation. Read More

Tax Refunds Hit KES 316 billion Despite Removal of Reliefs
Tax refunds increased to KES 316 billion (approx. USD 2.5 billion) in the financial year ending in June 2021 despite spirited efforts by the National Treasury to reduce claims by getting rid of unnecessary waivers. Read More

Motorists Pay KES 15 Billion in Eight Months to Stabilise Fuel Prices
Motorists paid KES 15.63 billion (approx. USD 124 million) to stabilise pump prices in the first eight months of the current financial year to February 2023, documents from the Ministry of Energy show, amid struggles by the State to clear billions of shillings owed to oil marketers. Read More

First Lady Hosts Susan Buffet Foundation Officials
The First Lady, Jeannette Kagame received Professor Senait Fisseha , the Director of Global Programs at the Susan Thompson Buffett Foundation, a meeting that attracted discussions related to sustainable development of communities. Read More

Kagame in Addis for AU Summit, Mini-Summit on DR Congo Crisis
President Paul Kagame joined leaders from across Africa in Addis Ababa, Ethiopia for the 36th Ordinary session of the Assembly of Heads of State and Government of the African Union. Read More

Central Bank Increases Lending Rate to 7 Percent
The National Bank of Rwanda has increased its lending rate by 50 basis points from 6.5 percent to 7 percent in efforts to tame the persistent high prices. Read More

City of Kigali to Use USD 70 Million to Upgrade Major Unplanned Settlements
Kigali’s major unplanned settlements will soon be upgraded at the cost of USD 70 million (approx. RWF 76 billion), officials announced this week during the ground-breaking ceremony. Read More

Africa Eyes to Heighten Trade
President Samia Suluhu Hassan will join other African Heads of State and Government for the two-day 36th ordinary Session of the AU Assembly to be held in Addis Ababa, Ethiopia with the main focus on the African Continental Free Trade Area. Read More

Same District Embarks on Sisal Cultivation
Same District Council has embarked on strategies aimed at encouraging cultivation of sisal crop to diversify and increase sources of income in the district. Read More

EAC Bags USD 1.4 Million for Road Along Uganda-Kenya Border
The East African Community (EAC) has received USD 1.4 million for a feasibility study on a key section of the Northern Transport Corridor linking Kenya and Uganda. Read More

Electricity Tariffs will Reduce Gradually, Says Energy Minister
Government told manufacturers that a reduction of electricity cost to US Cents 5/ KWH will be done in phases. Read More
Northern Africa
Ratification of the Executive Protocol on Tindouf-Zouerate Road Project

The Executive Protocol for the implementation of the Memorandum of Understanding signed between Algeria and Mauritania for the realization of the road between Tindouf (Algeria) and Zouerate (Mauritania), was ratified by a Presidential Decree published in the Official Journal No. 8. Read More

Egypt Takes Massive Strides to Secure Smooth Digital Transformation

Egypt’s Minister of Communications and Information Technology Amr Talaat said that the Egyptian government has taken massive strides to a secure smooth digital transformation. Read More

MSMEDA Backs Innovative Projects to Enhance Their Role in National Economy
The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) is continuing its unremitting efforts to provide a climate conducive to the growth of the field of entrepreneurship in Egypt, affirmed the agency's CEO Bassel Rahmy. Read More

Egypt's Agricultural Exports Hit Fresh Record High
The agriculture sector is one of the target sectors to attract more foreign direct investment, according to Fitch Solutions. Read More

EBRD Grants EUR 15 Million Loan for Morocco’s Packaging Sector
The European Bank for Reconstruction and Development (EBRD) granted a EUR 15 million  loan in local currency to Moroccan company Multisac to support the packaging industry in Morocco. Read More

EBRD Doubled its Investment in Morocco in 2022 Amid Global Crises
The European Bank for Reconstruction and Development (EBRD) unveiled that its investment in Morocco more than doubled last year, reaching EUR 530 million, compared to EUR 211 million in 2021. Read More

Moroccan Students Eligible for Free University Education in Europe
Each year, many Moroccan students choose to continue their post-secondary education in foreign countries, most frequently in Europe. Read More

Royal Air Maroc Cancels Flights To, From Frankfurt
Morocco’s flag carrier Royal Air Maroc has informed its passengers of its decision to cancel a few flights to and from Frankfurt on Friday due to a series of strikes at German airports. Read More
Southern Africa
MRA Collects MWK 391 Billion in 2022/23 Third Quarter
Malawi Revenue Authority (MRA) has collected MWK 391.89 billion (approx. USD 380 million) in the third quarter running from October to December of the 2022/23 financial year, missing its target by MWK 4.73 billion (approx. USD ). Read More

Malawi Engages World Bank, Others on Food Security
The Ministry of Agriculture has drawn a fresh roadmap with key deliverables, budget frameworks and timelines towards food security. Read More

Innovators Hail Airtel ZiliMwaife Initiative
Innovators have hailed Airtel Malawi for its ZiliMwaife initiative which, they say, is promoting local innovations that have solutions to challenges the citizenry are facing. Read More

South Africa
Prolonged Power Crisis is a Risk to SA’s Rating, Says Fitch
Fitch Ratings has warned that SA’s electricity crisis could weigh on the country’s ratings if it is not properly addressed. Read More

Ramaphosa Defends Plan to Name SA Electricity Minister
South African President Cyril Ramaphosa defended his plans to appoint a minister of electricity in his office and denied that the move will result in a turf war with other members of his cabinet who help oversee energy provision. Read More

Capitec Announces New Banking Fees for 2023
South Africa’s biggest bank by retail clients, Capitec, has updated its banking fees for 2023. Read More

Development Bank of Southern Africa’s New CEO Starts in April
The Development Bank of Southern Africa (DBSA) got the green light to appoint CFO Boitumelo Mosako as its new leader. Read More

HH Commissions CEC Solar Plant, Insists PF Wanted to Kill Company
President Hakainde Hichilema has commissioned the Copperbelt Energy Corporation 33 megawatts Riverside Solar PV Plant built at a total cost of USD 22 million. Read More

Adhere to the Public Finance Act and the Public Procurement Law to Reduce Audit Queries
Parliamentary Public Accounts Committee chairperson Warren Mwambazi has challenged public officers to adhere to the Public Finance Act and the Public procurement law to reduce audit queries that are highlighted in the Auditor General’s report annually. Read More

FNB Zambia Launches Initiative to Support SME Business Growth
First National Bank (FNB) Zambia has launched an initiative that will provide comprehensive SME support for the sector as the bank aligns itself as a key business growth partner. Read More

BOZ Increases MPR by 25 Basis Points
Bank of Zambia (BOZ) Governor Dr Denny Kalyalya says the Central Bank’s Monetary Policy Committee has decided to increase the Monetary Policy Rate from 9 percent to 9.25 percent. Read More
Western Africa
Cote d'Ivoire
Cote d'Ivoire Reopens Land Borders Closed Since Start of Pandemic
Cote d'Ivoire has lifted its Covid-imposed land border closure, officially re-opening its roads to neighboring countries after nearly three years. Read More

Government Has No Intention to Takeover Petroleum Market
Deputy Energy Minister, Andrew Egyapa Mercer, says government has no intention to take over the petroleum market through its Gold for Oil programme. Read More

Gold for Oil Policy Does Not Need Parliamentary
Deputy Energy Minister, Andrew Egyapa Mercer, says the government’s Gold for Oil policy does not need to be submitted to parliament for approval. Read More

Effective AfCFTA Implementation Will Boost Africa’s Economy and Global Competitiveness
Acting Executive Secretary of the Economic Commission for Africa (ECA), Antonio Pedro, has urged African nations to accelerate implementation of the African Continental Free Trade Area (AfCFTA) in order to become more resilient and globally competitive. Read More

Tullow Ghana Takes GRA to International Arbitration Over Tax Dispute
Tullow Oil has announced that Tullow Ghana has filed requests for arbitration with the International Chamber of Commerce in London in respect of two disputed tax assessments received from the Ghana Revenue Authority (GRA). Read More

FG, Edo Government Commence Bidding Process for Development of 300,000 TEUs Per Annum Project
The Federal Ministry of Transportation and the Nigerian Ports Authority in collaboration with the Edo state government have called for bids for the development of the Benin Port under a public-private partnership. Read More

Nigeria, Others May Lose Oil Buyers as EU Set to Ban Petrol, Diesel Vehicles by 2035
Nigeria and other major oil-producing countries could lose major markets in Europe after the European Parliament approved a law to ban the sale of new petrol and diesel vehicles across European Union (EU) nations by 2035. Read More

FEC Approves USD 53 Million to Boost Power Supply
The Nigerian Government through the Federal Executive Council (FEC) approved the sum of USD 53.1 million and NGN 2.1 billion as local components for the procurement and installation of electrical conductors to boost the power supply in Nigeria. Read More

Buhari Assents to Defence Research, Development Bureau Bill, Three Others
President Muhammadu Buhari has assented to the Defence Research and Development Bureau Act, 2022, passed by the National Assembly. 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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