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This is an exclusive new report designed to give you an overview about Africa countries tackling Economic, Political, Stock Market and Company transactions issue.
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- Kenya inflation rate increased in October 2019 to 4.95% on increased prices of foodstuffs, halting two consecutive months of easing cost of living according to Kenya National Bureau of Statistics (KNBS) which led to an increase in prices of cigarettes.
- Kenyan firms have invested at least 113.3 BN KES (1.1 BN USD) in East African countries in the last four years in 55 projects across the sectors, by creating some 3,100 jobs, despite concerns that failure to enforce regional double tax treaty has raised the costs for firms.
- Despite the failed harvest from the 2019 first crop season, Uganda has maintained a relatively low food inflation rate at 1.9% part to a spill-over of 2018 large harvest stock.
- Uganda spends 400 MM USD annually on procuring antiretroviral drugs for people living with Human Immunodeficiency Viruses (HIV) which are at least 1.4 million people. The government contributes only 10% of the total expenditure and the rest comes from development partners.
- In Namibia, Minister of Works and Transport John Mutorwa stated that female inclusion in the maritime sector can accelerate inclusive and sustainable development. Adding that global statistics show that the maritime industry remains one of the most under-represented sectors of economic activities for women.
- According to the Ministry of Agriculture, Tanzania has exported over 213,000 tons of Raw Cashew Nuts (RCN) out of the 222,000 tons which were purchased by the government last season earning around 251.7 MM USD.
- The Zambian Minister of Transport and Communications has called for an enhanced approach towards exploring new innovations aimed at accelerating digital transformation in the country. He also added that the transformation of the ICT sector will help meet the country's development aspirations to be a middle-income country by 2030.
- According to the Ministry of Agriculture of Zambia the agriculture sector is expected to produce over 3 million metric tons of maize in 2019/2020 farming season, with an increase of about 3.5 million metric tons in 2020/2021 farming season.
- Cash in circulation will slightly be doubled over the next six months, as the Reserve Bank of Zimbabwe (RBZ) is injecting an extra 1 BN USD to satisfy legitimate demand for coins and small notes, but still make it impractical to use cash for larger transactions.
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- Sudan Forces for Freedom and Change (FFC) announced that all its components have agreed to hand over the President Omer al-Bashir to the International Criminal Court (ICC). By contrast, the military council had rejected al-Bashir's handover saying it would be decided by the first elected government after the election within three years.
- The US delegation led by Deputy US Trade Representative C.J. Mahoney is visiting Nairobi to start a packed two-day meeting with government and private sector leaders in in order to sign agreements for trade and investment deals in Kenya where Chinese influence has been rising rapidly.
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Major Companies Transactions
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- Volkswagen has launched a pilot project in partnership with Siemens to test the feasibility of electric mobility in Rwanda, which will form part of Volkswagen's operations in the country. With the launch of the pilot project, Rwanda becomes the first African country to introduce a Volkswagen electric car.
- MIC Tanzania Public Limited Company (Tigo) has announced the completion of the combination with its sister company Zanzibar Telecom Public Limited Company (Zantel). Noting that the process to transfer ownership of the shares in Zantel to Tigo is now completed and that both companies will now combine their operations in mainland Tanzania and Zanzibar.
- Dangote Group, a Nigerian multinational industrial conglomerate, plans to export petroleum products from its refinery to Europe, South America, West Africa and Central Africa. The refinery can handle all the Nigerian crude grades and all the African crude grades, as well as some of the Middle East grades and the US light oil.
- Vaal Real Estate, which Egyptian and Turkish investors own, has launched a 1.5 BN KES (14.5 MM USD) 15-floor residential development in the affluent Kilimani Estate in Nairobi and would host 227 families upon completion.
- Nabo Capital's Wanafunzi Investment Unit Trust Fund,a student friendly platform, expects to raise 1.5 BN KES (14.5 MM USD) in the next three years by tapping into 'float' money that students mostly spend on mobile phone airtime, clothes as well as partying.
- Safaricom is considering lowering the customer charges on its M-Pesa overdraft facility, Fuliza, and M-Shwari loans amid pressure for the State to curb unregulated digital mobile lenders who charge inflated monthly interest rates.
- In Namibia, BtoBet signed a multi-channel deal with the Namibian operator Allbet covering both retail and online channels. Initially, Allbet will integrate BtoBet's technology across its retail network ahead of a rollout across online channels.
- Tanga Cement sales revenue declined by only 1% reaching 97.6 BN TZS (42.3 MM USD) in H1-2019 compared to 98.9 BN TZS (42.9 MM USD) in H1-2018. However, the company was able to sustain a healthy gross profit margin of 26% for both periods.
- Azelio has signed an MoU with the Swedish company Nordic Distributed Power AB (ND Power) for a small-scale project in Zambia. The installation will operate under real-world commercial terms and serve as a model for ND Power's future installations in the Southern African region.
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Dubai Office:
Office No. N 307, North Tower, Emirates Financial Towers, DIFC, P.O Box 506726, Dubai, UAE.
Tel:
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Z
epter Office Building
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New Cairo, Egypt.
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Kenya Office:
Block C, Ground Floor, Fortis Office Park Muthangari Dr Westlands, Nairobi, Kenya
Tel: +254 20 5148174
P.O. Box: 66488-00800
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