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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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- The annual headline inflation rates for both Tanzania and Uganda increased in June 2019 while Kenya decreased reaching 3.7%, 3.4% and 5.7%, respectively. However, Kenya inflation rate remains the highest compared to the other two countries.
- The Central Bank of Uganda suffered a mysterious failure of its real-time gross settlements (RTGS) system, forcing the Governor to suspend processing for large payments for most of the day and institute an investigation into the incident.
- Uganda Medical Association (UMA) has revealed that they are in the process of registering a company to export doctors to other countries following the failure by government to absorb doctors in the country.
- Sharjah and Uganda have discussed prospects of cooperation and ways to further boost their bilateral relations in the economic and investment sector.
- A record number of international passengers are traveling through Addis Ababa Bole International Airport, the major gateway into Africa. Wednesday, July 17, 2019 was one of the busiest days for the Airport with 310 flights and 29,528 travelers which marked a record number of daily passengers served at the terminal.
- UNICEF signs annual work plans worth 1.4 BN ETB (489 MM USD) with the Government of Ethiopia under the umbrella of the United Nations Development Assistance Framework (UNDAF 2016-2020).The work plans will be implemented by more than 98 Federal and Regional Government Implementing Partners covering 16 program areas.
- The Khalifa Fund for Enterprise Development (KFED) has signed a strategic partnership agreement with the Ethiopian Ministry of Finance aimed at providing 100 MM USD (368 MM AED) to promote a culture of innovation and finance prominent projects in Ethiopia.
- The World Bank advised Tanzania to make important and urgent investments to accelerate progress in the health and education of its youth in order to improve its human capital for sustainable development.
- Zambia copper production decreased 4% to 393,419 tons in H1-2019. The Zambian government is likely to reach close to 900,000 tons in 2019 compared to 861,000 tons in 2018.
- Zimbabwe increased fuel prices for the second time in a week but most pumps remained dry, due to shortages that are helping drive inflation rapidly higher and which have led to protests about the cost of living. Now a liter of petrol would cost 7.45 Zimbabwe dollars, up 22% from 6.10 dollars.
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- Rwanda government and the Catholic Church are in talks to agree on the suitable way in order to move forward with delivering the much-needed services in the area of family planning. Both parties agreed on the matter that health facilities will be provided by the Catholic Church to deliver services in the area of family planning.
- President Abdel Fattah El Sisi stressed Egypt keenness on providing constant support to South Sudan and back its peace process, promising commitment to shoring up efforts exerted at the regional and international levels to help the African country restore stability and security.
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Major Companies Transactions
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- Tanzania-focused miner Shanta Gold PLC is comfortably on track to hit its 2019 guidance of 80-84,000 oz. Production in H1-2019 totaled 42,230 oz, up 11% compared to 2018. In H2-2019, the company expects more on-mine and regional exploration results, the launch of the Singida IPO and hopefully some movement on the 25 MM USD VAT receivable which is roughly the same size as their net debt.
- Tanzania government will buy two new Airbus jets and one plane from De Havilland Canada as part of a fleet expansion plan for the national flag carrier in order to boost the country tourism and encourage an influx of hard currency into the country.
- The African Export Import Bank is exploring opportunities to fund local projects. The funding could be allocated from the main Afreximbank assets but also its offshoot, the 100 MM USD (about 10 BN KES) fund.
- Savannah Cement Company is doubling its production capacity to 2.4 million tons in a multi-billion-shilling investment at its Athi River plant as it targets the exports market within East Africa.
- South Africa Standard Bank has acquired an additional 4.3 million shares worth 422 MM KES (4 MM USD) in Stanbic Holdings, raising its stake in the local subsidiary to 69.1% in 2019.
- Sales of new motor vehicles decreased 2.5% in H1-2019, with Isuzu East Africa being the only major dealer to show the downward sales trend. Total unit sales of the dealers including Toyota Kenya, Simba Corporation and Isuzu East Africa reached 6,294 units in H1-2019 compared to 6,456 sales units in H1-2018 which is down 2.5%.
- Spanish delivery firm Glovo has onboarded Java House, Naivas Supermarket, Zucchini Greengrocers and Onn The Way Supermarket as the company expands after only seven months from entering the Kenyan market in order to grow its customer base.
- In Namibia, the National Asset Management Agency (Nama) recorded a 41 MM EUR profit in Q1-2019 compared to 59 MM EUR in Q1-2018. Total cash generated in Q1-2019 reached 320 MM EUR, bringing the total generated since Nama's inception in 2010 to 44.3 BN EUR.
- Cross Boundary Energy Access (CBEA), Africa's first project financing facility for mini-grids, is announcing its first transaction on last Monday 21st of July to finance 60 mini-grids in Tanzania in partnership with PowerGen Renewable Energy, one of the sector's leading mini-grid developers and operators.
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Dubai Office:
Office No. N 415, North Tower, Emirates Financial Towers, DIFC, P.O Box 506726, Dubai, UAE.
Tel:
+97142820301
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Cairo Office:
Z
epter Office Building
S5-6 ,
Area 5, District 1, 5th Settlement,
New Cairo, Egypt.
P.O. Box:
1147
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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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