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Africa this Morning

ETHIOPIA

  • The Ethiopian Revenues and Customs Authority collected USD 2.3 billion from taxes in the first four months of this Ethiopian fiscal year. (Read full article here)
  • Executive Directors of the African Development Bank Group have approved a loan and a grant amounting to USD 101.46 million for the rehabilitation of power systems in Ethiopia. (Read full article here)
  • The Ethiopian government has issued an international tender to buy about 70,000 tonnes of milling wheat, European traders have said. (Read full article)
  • Ethiopia’s Foreign Ministry spokesman, on Thursday, said that the construction of the Grand Ethiopian Renaissance dam was a “matter of life or death for Ethiopia too”.  (Read full article)
  • The Norwegian Embassy in Addis Ababa and the Norwegian Forestry Group have signed a grant agreement for the implementation of the Forest Landscape Restoration Programme in the Amhara regional state of Ethiopia. (Read full article)
KENYA

  • Kenya’s Central Bank left its key rate unchanged for a seventh straight meeting as a protracted election period weighs on growth and a law capping borrowing charges impedes policy making. (Read full article here)
  • Kenya’s textile industry stays on a recovery path after decades of decline due to mismanagement and stiff competition from cheaper imports and second-hand clothes. (Read full article here)
  • Local manufacturers are some of the biggest beneficiaries of Kenya Power’s projects in the year to June, having supplied it with materials worth USD 151 million. (Read full article here)
  • Locally assembled all weather roads vehicle, Mobius has said its Mobius II model orders had exceeded target, signalling rising appetite for the car. (Read full article here)
  • Cargo airlines are paying out millions of shillings to customers due to what they term as stringent Kenya Plant Inspectorate Service approvals delaying export of perishable goods. (Read full article here)
  • Clearing and forwarding agents have blamed non-tariff barriers for slow movement of cargo at the Mombasa port. (Read full article here)
  • Directors and top managers are set to undergo a voluntary two-day refresher training on new corporate governance rules from 30 November amid rising company failures due to malpractices. (Read full article here)

RWANDA

  • Rwanda is on a strong growth path to success but has ambitions to achieve even more, especially in having sufficient, reliable and affordable energy, an official has said. (Read full article here)
  • The local business community will soon be able to easily explore more Western African markets following the signing of a bilateral air service agreement between the Government of Rwanda and Cape Verde. (Read full article here)
  • While the construction sector continues to be one of the main contributors of the economic growth in the country as well in other parts of the continent, players in the construction sector have said that there is a need for more innovative solutions. (Read full article here)
  • Any other small sized business with cash ready to invest will be able to buy secondary bonds which will be listed on the Rwanda Stock Exchange on 28 November. (Read full article here)
  • The Trade and Development Bank – formerly Eastern and Southern African Trade and Development Bank or PTA, has announced plan to widen its financing of big projects in Rwanda. (Read full article here)

TANZANIA

  • As Salaam Air has introduced a daily flight between Dar es Salaam and Dodoma, boosting the designated capital air transport outreach. (Read full article here)
  • Solar energy is one of the potential energy resources in Tanzania. However, the government is yet to exploit the resource, the United Nations Industrial Development Organisation has said. (Read full article here)
  • Tanzania Telecommunication Company has managed to collect two-third of its outstanding debt in three months. (Read full article here)

UGANDA

  • Having concluded the year with USD 155.8 million in gross written premium, the insurance industry is planning to establish an anti-fraud unit at Insurance Regulatory Authority to crack down on the rising cases of fraud within the sector. (Read full article here)
  • The 4th International Tax Justice Academy ended with participants from across Africa urging their governments to do more in tracking, stopping and recouping revenues being plundered from the continent through tax evasion and aggressive tax planning. (Read full article here)
  • As financial services get more sophisticated, financial institutions in East Africa have been told to upgrade their digital systems to survive in business and guard against cyber-attacks by fraudsters. (Read full article here)

ALGERIA

  • Algerian President, Abdelaziz Bouteflika, has ordered his government to settle debts owed to foreign and local companies immediately. (Read full article here)
  • Algerian voters headed to the polls yesterday to choose new local leaders in an election marred by frustration over growing poverty caused by low oil prices. (Read full article here)

EGYPT

  • Ibn Sina Pharmaceutical Industry, one of Egypt’s largest drug distributors, plans to raise as much as USD 90.65 million from offering nearly 40 percent of its shares on the bourse in December. (Read full article here)
  • Egypt’s largest cigarette manufacturer, the Eastern Tobacco Company, has announced that an increase in the price of cigarettes produced by Egyptian companies has started, in accordance with recent amendments to the value-added tax law. (Read full article here)
  • Egypt has appointed Housing Minister, Mustafa Madbuly, to serve as interim Prime Minister while Prime Minister Sherif Ismail receives medical treatment abroad. (Read full article here)

MOROCCO

  • Bombardier’s train-equipment arm is looking to build a factory in Morocco if it wins a contract to supply rolling stock to the country’s state-owned railways. (Read full article here)
  • Morocco’s leading economic activity in Africa has made it a potential host for future editions of the World Islamic Economic Forum, the forum’s Chairman, Tun Musa Hitam has said. (Read full article here)
  • The Consumer Price Index fell by 0.1 percent in October, as a result of the 0.3 decrease in product index and the 0.1 percent increase of the non-food index. (Read full article here)

SUDAN

  • Sudanese President, Omar Hassan al-Bashir, has told his Russian counterpart, Vladimir Putin that he wanted to discuss nuclear power cooperation with Russia. (Read full article here)
  • Russia plans to supply up to 1 million tonnes of grain to Sudan this year, Russian President, Vladimir Putin told his Sudanese counterpart, Omar Hassan al-Bashir at the start of their talks in Russian southern city of Sochi on Thursday. (Read full article here)
  • The Minister of Animal Resources, Bushara Jumaa Aro, has pointed out that the visit of Sudanese President to Russia will pave way for Sudan to benefit from the outstanding scientific capabilities of Russia in different fields. (Read full article here)

BOTSWANA

  • BotswanaPost have installed 6,240 individual residential mail boxes as well as 1,120 boxes in nine multi residential areas giving a total of 7,360 under their home delivery mail initiative. (Read full article here)
  • U.S. based, Textron Aviation, has begun shipments of 10 Cessna Grand Caravan EX turboprop singles that will be used for charter, cargo and logistics services in Botswana. (Read full article here)

MALAWI

  • The World Bank  has  said Malawi’s Gross Domestic Product growth will increase to 4.5 percent in 2017 from 2.5 percent in 2016. (Read full article here)
  • Malawi is stuck in the category of Least Developed Countries with a stunted energy sector affecting growth, says a latest report released by the United Nations Conference on Trade and Development. (Read full article here)

MOZAMBIQUE

  • The processes of licensing and sale of mineral products legally in Mozambique will be improved so that the government can improve monitoring of artisanal and small-scale mining, the Minister of Mineral Resources and Energy has said. (Read full article here)
  • Australia based, Syrah Resources has produced its first saleable flake graphite from the Balama project, in Mozambique, and is now targeting production of 160 000 tonnes to 180 000 tonnes next year. (Read full article here)
  • The Maputo metropolitan integrated transport system, a partnership between FLEETRAIL and Mozambique’s railways, could start in two weeks. (Read full article here)

SOUTH AFRICA

  • Ratings firm, Fitch kept both South Africa’s local and foreign currency credit ratings unchanged at BB+, one notch below investment grade, with a stable outlook, the agency said on Thursday. (Read full article here)
  • South Africa’s Central Bank held its key rate and forecast more increases over the next two years as uncertainty about its credit rating and the outcome of the ruling party’s leadership race raised risks. (Read full article here)
  • PPC, the cement maker that’s in talks with potential suitors, renegotiated the bulk of its debt obligations in South Africa and the Democratic Republic of Congo as new operations in the region start to generate additional cash. (Read full article here)
  • Involving more partner institutions and expanding areas of energy research manifest that South Africa and Germany collaboration remains significant, says the German Embassy. (Read full article here)
  • South Africa’s National Union of Mineworkers has agreed a three-year wage agreement with coal producers, averting a sector-wide strike that could have impacted power supply, the company said on Thursday. (Read full article here)

ZAMBIA

  • Zambia still has potential to retain the seven percent growth rate previously posted due to improvement in macro-economic conditions, Standard Chartered Bank projects. (Read full article here)
  • Minister of Finance, Felix Mutati has said that the Cabinet has resolved to suspend new non-concessional borrowing. (Read full article here)
  • State owned telecommunications company, Zamtel has said that 84 of its 110 new transmission sites countrywide are ready to be commissioned in the first phase of its network expansion programme. (Read full article here)
  • The Minister of Development Planning, Lucky Mulusa, has urged financial institutions to develop innovative solutions to help small and medium-sized enterprises grow their businesses. (Read full article here)

NIGERIA

  • The Federal Government through its social investment scheme, N-Power, has employed over 200,000 people and plans to hire another 300,000 graduates, Vice-President Yemi Osinbajo has said. (Read full article here)
  • The African Development Bank is focusing on Nigeria’s aviation sector as it provides financial assistance of over USD 2 billion for the development of aviation infrastructure in different countries. (Read full article here)
  • Oil marketers, on Thursday, declared that the country’s refineries would not work as expected despite the billions of dollars being spent by the Federal Government on rehabilitating the facilities. (Read full article here)
  • The Federal Government has concluded arrangement to reintroduce toll gates across the country, according to the Minister of Power, Works and Housing, Babatunde Fashola. (Read full article here)
  • Worried about the slow rollout of broadband infrastructure across Nigeria, an advocacy group, Broadband 2018 Coalition, has called on the Federal Government to expedite the implementation of the country’s five-year broadband plan submitted by the Presidential Committee on Broadband in 2013. (Read full article here)

GHANA

  • Ghana has signed five Memoranda of Understanding with the Danish government to partner and work in different sectors of the economy. (Read full article here)
  • Oil dealers who fail to comply with guidelines and regulations set out by the National Petroleum Authority will now be arraigned before court. (Read full article here)
  • Energy Minister, Boakye Agyarko, has told Parliament that no individual is now allowed to lift contaminated oil from Ghana’s Bulk Oil Storage and Transportation Company. (Read full article here)
  • Fana BC
  • Modern Ghana
  • Anadolu Agency
  • Xhinuanet
  • Africa News
  • Business Daily Africa
  • New Times, Rwanda
  • KT Press
  • Daily News, Tanzania
  • Citizen, Tanzania
  • Daily Monitor, Uganda
  • Ahram Online, Egypt
  • Sudan Commerce News
  • Mining Weekly
  • Bloomberg
  • Morocco World News
  • Lusaka Times
  • Mmegi Online
  • AINonline
  • Macau Hub
  • Malawi24
  • Club of Mozambique
  • Times, Malawi
  • Daily Mail, Zambia
  • The Punch
  • The Guardian, Nigeria
  • Ghana Web
  • Independent Online
  • Business Day
  • Reuters
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