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H+KAfrica DigestSummary of Key Pol i t ica l & Economic DevelopmentsAngola | Ethiopia | Ghana | Kenya | Mozambique | Nigeria | Rwanda | South Africa | Tanzania | Uganda

November 2016

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ContentsPolitical News Roundup

Ghana

Angola

South Africa

Tanzania

Uganda

Kenya

Ethiopia

Mozambique

Nigeria

Rwanda

Ghana’s economy has improved

Mining companies asked to consult communities on projects

Minister announces resumption of water for all project

Isabel spells danger for Angolan banks

Youth Council sensitize Funda population to voter registration

DA to bring charges against Zuma for his role in state capture

‘Desperate DA’ intent on using courts at all costs – ANC

Government is trying to silence the EFF, the party’s Mbuyiseni Ndlozi says

The trials and tribulations of Magufuli’s first year in office State challenged to double health investment

JPM, Lungu for vibrant TAZARA

Government to pay Shs360 billion South Sudan debt to traders

Kayihura, Lukwago named in Shs20 Billion scam

Top army officers under probe over arms deal

Step up momentum to form super alliance, Mudavadi urges opposition Fear of fraud compelled Jubilee to seek IEBC’s help in conducting nominations

Eligible Ghanaian voters across the world will be allowed to vote - IGP

Don’t betray the confidence reposed in you – EC Official

Ruto defends Jubilee on election date change claims

Ethiopian govt values concerns of protesters and is working to meet their demands – Envoy Ethiopia: Internet crackdown hurts everyone

Ethiopia govt reshuffles cabinet amid tensions

Mozambique ‘has taken very important steps’, says IMF Govt and Renamo deliver counter-proposals

Mediators suggest truce after agreement on principles of decentralisation

TSA: Putting Nigeria on track for digital governance

Agriculture can trigger Nigeria’s economic revival – Ambode

Halt freefall of Naira, NLC tells Nigerian govt Saraki insists Nigeria not corrupt Oil firms to announce new investments in Nigeria’s oil, gas sector -Enalamah

Canada deports genocide suspect Seyoboka Media industry grows 9 per cent, says report

Rwanda plans to investigate French officers

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Economic News Roundup

Ghana

Angola

South Africa

Tanzania

Uganda

Kenya

Ethiopia

Mozambique

Nigeria

RwandaGhana’s oil and gas future extolled Cabinet approves Ghana’s accession to Budapest Convention

October PPI increased slightly to 9.8%

Institute of Bankers to drive massive digital services in Ghana’s banking sector

Ghana’s public debt hits GH¢112 billion as at September 2016

Growth in petroleum sector to boost agriculture

Angola Economic Outlook Angola: Inflation climbs to over-decade high

Economist raises alarm over ‘damaging interventionist policies’ Zuma questioned on Brexit impact on SA

Consumer inflation speeds up, led by food prices

Hopes on EU free trade fade with MPs rejection Dar bank seals 25bn/- deal with AFD for renewable energy projectsShilling to remain stable thanks to cashew exports

UEGCL and UETCL take charge of Karuma, Isimba

What launch of Single Electronic Window means for Uganda NSSF stake in Umeme rises to 23% after Shs60bn deal

Kenya vows to win over Tanzania into backing EU trade deal New plan to take export zones to all 47 counties

Kenya seeks to tap into Sh360 trillion Global Halal Industry

Ethiopian unrest triggers collapse in tourism

Ethiopia weighs options for iron ore extraction

Kenya-Ethiopia road now awaits commissioning

Some good news from Mozambique: poverty levels have been reduced Inspectors fine thousands of shops

Oil era will soon be over, says Osinbajo

14% MPR not in Nigeria’s interest; Will trigger inflation – Experts

Recession: It’s up to you, CBN tells government

Recession: Fourth quarters will be better – FG assures Nigerians

Rwf15bn govt bond issuance oversubscribed

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Nigeria should not criminalise forex possession

RwandAir acquires Africa’s first Boeing 737-800 Next Gen

Rwanda tops World Bank CPIA scores

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Angola

Ethiopia

Minister announces resumption of water for all project

Isabel spells danger for Angolan banks

Youth Council sensitize Funda population to voter registration

Ethiopia: Internet crackdown hurts everyone

Angola’s minister of Energy and Water João Baptista Borges in Luena, eastern Moxico province, said that the sector will resume soon “Water for All” project, idled for some time in the region as result of the current economic situation the country faces.

The minister was speaking to the press at the end of his visit to the Tchiumbue hydroelectric project, under construction in the municipality of Dala (Lunda Sul).

Ref: Sunday, 20 November 2016

When the United States warns of the risks of handing control of Angola’s banks to politically exposed people (i.e. President José Eduardo dos Santos, his family members, and the Generals who back him), this is not an idle warning.

It’s because the USA know the President is planning to transfer control over the BFA (Banco de Fomento Angola) to his daughter, Isabel, and that once he does so, the Presidential group’s control over almost the entire Angolan banking system will be in place. How so? Ref: Monday, 07 November 2016

A delegation of Cacuaco Municipal Youth Council (CMJC) opened this weekend an awareness campaign of the population to voter registration and update process in Funda commune in Luanda.

The campaign aims at sensitizing the voters to adhere the brigades established for this purpose at level of Cacuaco. Ref: Tuesday, 22 November 2016

Ethiopia has never been an easy place to operate. But a six-month state of emergency, combined with internet and travel restrictions imposed in response to a wave of anti-government protests, means it just got a whole lot harder. The government has targeted the mobile data connections that the majority of Ethiopians use to get online. Internet users have also been unable to access Facebook Messenger and Twitter, with a host of other services also rendered unreliable. Ref: Thursday, 17 November 2016

PoliticalNews RoundUp

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Ethiopian govt values concerns of protesters and is working to meet their demands – EnvoyFrom the outside looking in, recent media reports have painted Ethiopia as a country on fire, owing to unprecedented protests in Oromia and Amhara regional states; these have resulted in causalities and arrests by state agencies.

Several theories have been fronted to explain their origin but what is the government’s version of the story?In an exclusive interview with Khen Trevor Amooti, Ethiopia’s Plenipotentiary Ambassador to

Uganda, Rwanda, Burundi and DR Congo, Degife Bula Wakijera, weighed in on the current situation in his country.

Ref: Monday, 28 November 2016

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Ghana’s economy has improved

Mining companies asked to consult communities on projects

Eligible Ghanaian voters across the world will be allowed to vote - IGP

The Finance Minister Seth Terkper has said that the Mahama-led administration has significantly improved the economy of the country through their prudent management systems. Ref: Friday, 25 November 2016

The Deputy Minister of Lands and Natural Resources in-Charge of Mines, Mr Kwabena Mintah Akandoh, has urged mining companies to engage communities for their input before undertaking any rehabilitation works on mined out lands within their concessions. Ref: Tuesday, 22 November 2016

The police will not countenance any act of intimidation against eligible Ghanaian voters who travel from other countries to cast their ballot in Ghana. That’s the warning from the IGP John Kudalor. It follows threats by the New Patriotic Party to stop thousands of Togolese Nationals who it claims are in possession of Ghanaian voter ID cards and are likely to troop to Ghana to vote on December 7. Ref: Wednesday, 23 November 2016 Read full story

Ghana

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Don’t betray the confidence reposed in you – EC OfficialA Deputy Director of Election in charge of Research, Monitoring and Evaluation at the Electoral Commission (EC),Alexander Poku-Akubia, has urged media practitioners not to betray the confidence and trust reposed in them by Ghanaians.

The Deputy Director made the call during a day’s capacity building workshop on election reportage, organized by the EC with support from the European Union for media practitioners in Bolgatanga in the Upper East Region.

Ref: Monday, 21 November 2016

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Ethiopia govt reshuffles cabinet amid tensionsA large number of the new ministers are making their first entry in government, and have no direct party affiliation. They are viewed as technocrats - and it is worth noting that no less than eight are from the Oromo region which has been the center of the protests that have elevated the tensions around the country. Ref: Wednesday, 2 November 2016

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Step up momentum to form super alliance, Mudavadi urges opposition

Fear of fraud compelled Jubilee to seek IEBC’s help in conducting nominations

Amani National Congress (ANC) leader Musalia Mudavadi recently asked his opposition colleagues in Cord and Kanu to step up the momentum to craft the National Super Alliance to defeat the Jubilee Party in next year’s polls.

Mr Mudavadi said he had vigorously campaigned to popularise the alliance idea but the response from other opposition colleagues was lukewarm. The leader did not, however, name the opposition leaders he said appeared to have lost enthusiasm for the idea.

He said trade unions representing teachers and workers and other groups involved in activism should be brought on board to strengthen the envisaged alliance.

Ref: Monday, November 28 2016

Fear of fraud in party primaries compelled Jubilee Party to ask the Independent Electoral and Boundaries Commission to help it conduct the elections.Jubilee Deputy Majority Leader in the National Assembly Naomi Shaban said experience in Kenya had shown parties are incapable of conducting free and fair nominations, especially in their own strongholds.

Ref: Saturday, November 26 2016

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Kenya

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Mozambique

Nigeria

Mozambique ‘has taken very important steps’, says IMF

Ruto defends Jubilee on election date change claims

Mozambique has taken “very important steps” in recent weeks to deal with the “hidden debts” inherited from the previous government, the Deputy Director of the Africa Department of the International Monetary Fund (IMF), David Owen, told reporters in Maputo.

He was speaking after he met with Prime Minister Carlos Agostinho do Rosario

Ref: Tuesday, 15 November 2016

Deputy President William Ruto has defended Jubilee against claims that the government wants to change the election date.“We do not anticipate a change in the election calendar. Fears that the polls will be delayed are unfounded. Let’s have faith in the electoral process and conduct peaceful campaigns,” he said.Sections of the opposition have said Jubilee is influencing the delay of the appointment of the electoral commissioners to push the election date.

The IEBC selection committee, on Friday, re-advertised for the position of chairperson, citing numerous concerns raised against some of the candidates.

Ref: Tuesday, November 29 2016

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Saraki insists Nigeria not corrupt

Oil firms to announce new investments in Nigeria’s oil, gas sector -Enalamah

Govt and Renamo deliver counter-proposals

Mediators suggest truce after agreement on principles of decentralisation

Halt freefall of Naira, NLC tells Nigerian govt

The President of the Senate, Bukola Saraki, has insisted that Nigeria is not a corrupt country as widely believed.

Speaking with BBC Hausa service, the Senate President said he would rather prefer to market Nigeria than tag the country corrupt. Admitting that there were cases of corruption in the country, Saraki said, “My take is that I must market my country, so I am not going to be able to label the country as such. Ref: Wednesday, November 23 2016

International Oil Companies are set to announce new significant investments into Nigeria’s oil and gas sector to plug the funding gap, following talks by stakeholders on how to revamp that very critical industry, minister of Industry, trade and Investments, Okechukwu Enalamah has said.

Ref: Wednesday, November 23 2016

The fifth round of talks between the Mozambican government and the Renamo rebels, intended to end Renamo’s insurrection, began recently, with both sides delivering their answers to the proposal on decentralization made by the international mediating team at the end of the fourth round.

Ref: Tuesday, 15 November 2016

The international team mediating the talks taking place in the Joint Commission set up between the Mozambican government and the Renamo rebels has proposed that a truce be declared - but only after the two sides have agreed a series of proposals on decentralization and submitted them to the country’s parliament, the Assembly of the Republic.

Ref: Monday, 7 November 2016

The Nigeria Labour Congress (NLC) has asked the federal government to find a way to halt the freefall of naira against other international currencies to save millions of Nigerians devastated by high inflation.

Ref: Friday, November 25 2016

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Agriculture can trigger Nigeria’s economic revival – Ambode

TSA: Putting Nigeria on track for digital governance

Lagos State Governor, Mr Akinwunmi Ambode, recently, said that the agricultural sector can provide the needed boost for Nigeria’s quest for economic revival, saying that his administration would continue to support the Federal Government initiative to revamp the sector. Ref: Wednesday, 23 November 2016

The Nigerian government is no stranger to wasteful spending and corruption in its public sector.

At the last count, over 40,000 ghost workers have been flushed out of Ministries, Departments and Agencies (MDAs) and a record N20 billion saved from the federal government’s monthly wage bill following its efforts to digitise financial management in the public sector. Ref: Wednesday, November 23 2016

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Rwanda plans to investigate French officers

The new development is likely to escalate further the deteriorating diplomatic ties between the two countries, which are divided by differing narratives on the 1994 genocide.

The latest differences were triggered by revelation that French authorities were interested in revisiting the shooting down of an aeroplane carrying former Rwandan president Juvenal Habyarimana.

Ref: Saturday, 12 November 2016

Rwanda plans to ask French authorities to allow Kigali investigators to interrogate senior French officers and politicians in connection with the 1994 genocide against the Tutsi.

Rwanda’s Foreign Affairs Minister Louise Mushikiwabo said Kigali is no longer interested in mending relations with its former European ally and will not tolerate what she described as “judicial harassment” from France.

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Rwanda

Media industry grows 9 per cent, says reportThe new Rwanda Media Barometer has commended an overall improvement in media development, which saw the sector grow at 8.9 per cent in the last three years.

But the survey also cited economic constraints, poor retention of best journalists, sluggishness in capacity building, among others, as one of the main issues affecting professionalism in the sector.

The current benchmark on the media development, a survey published every two years, stands at 69.6 per cent, up from 60.7 per cent in the last report published in 2013. Ref: Wednesday, 9 November 2016

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Canada deports Genocide suspect SeyobokaThe National Public Prosecution Authority (NPPA) recently welcomed the decision by Canada to deport to Rwanda a Genocide suspect Henri Jean-Claude Seyoboka.

Seyoboka, who is expected to arrive in the country will become the second Genocide suspect to be deported by Canada, after Dr. Leon Mugesera who was deported in 2012. During the 1994 Genocide against the Tutsi, Seyoboka was a second lieutenant in the genocidal army (Ex-FAR) and lived in the Kiyovu area in Nyarugenge District, according to prosecution.

Ref: Thursday, 17 November 2016

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DA to bring charges against Zuma for his role in state captureDA leader Mmusi Maimane says he will lay criminal charges against President Jacob Zuma for his alleged role in state capture in SA. “We believe there exists a prima facie criminal case that must be investigated‚“ Maimane said in a statement. Ref: Monday, 14 November 2016Read full story

South Africa

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Government is trying to silence the EFF, the party’s Mbuyiseni Ndlozi saysThe charges against Julius Malema are an attempt by the government to silence the EFF‚ the party said ahead of his appearance in court recently. “The EFF has always been very critical of the government‚“ said the party’s Mbuyiseni Ndlozi. Ref: Monday, 07 November 2016

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Tanzania

Uganda

The trials and tribulations of Magufuli’s first year in office

State challenged to double health investment

JPM, Lungu for vibrant TAZARA

Government to pay Shs360 billion South Sudan debt to traders

‘Desperate DA’ intent on using courts at all costs – ANC

It has been a year since president John Pombe Magufuli was sworn in as the fifth president of the United Republic of Tanzania. However, his first year in office has been marked by a number of challenges despite what has largely been seen a relatively good start.

Ref: Friday, November 4 2016

“Our population is increasing at a tremendous rate. It is estimated that by 2050, Tanzania will have a population of 100 million people. Therefore, investment in the health sector should go parallel with the increasing population,” Kigamboni Member of Parliament (MP), Dr Faustine Ndugulile, whose point was emphasized by other contributors, noted. On his part, the Deputy Minister for Health, Community Development, Gender, Elderly and Children, Dr Hamis Kigwangala, said the increasing population poses a great threat to health and economy sector of the country. “Every year, Tanzania receives over one million newborns, which means in 50 years to come, Tanzania will have more than one million people. It is a great challenge in our health sector together with our economy at large.

Ref: Tuesday, 29 November 2016

President John Magufuli and his Zambian counterpart Edgar Lungu have vowed to transform the Tanzania Zambia Railway Authority (TAZARA) into business oriented and profit focused entity. The two leaders have also resolved to work hard on increased efficiency at the Tanzania-Zambia Mafuta (TAZAMA) pipeline, directing their respective Attorney Generals (AGs) to meet immediately to look on the possibilities of making crucial and overdue amendments in all provisions that are seen as a stumbling block in the operations of the ailing railway authority.

Ref: Tuesday, 29 November 2016

Uganda will pay more than Shs360 billion to its traders who years ago supplied goods to the government of South Sudan now encumbered by instability. The money will be treated as a loan to South Sudan to be paid back within 50 months at 6 per cent interest after the first year.

This newspaper has seen a copy of a draft agreement between the two governments and confirmed that a delegation led by Mr David Bahati, the State Minister of Finance in-charge of Planning, spent was in Juba last Saturday to finalise the agreement.

The Uganda government delegation included the Attorney General William Byaruhanga and Mr Cleopas Ndorere, who led the team from the Ministry of Trade, Industry and Cooperatives.

Ref: Monday, 7 November, 2016

The DA laying criminal charges against President Jacob Zuma is an attempt to divert attention from its failed Constitutional Court case, the ANC said recently. “The desperation by the DA to destabilise South Africa, including its judiciary, must be rejected,” ANC spokesperson Zizi Kodwa said. Ref: Wednesday, 16 November 2016

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Kayihura, Lukwago named in Shs20 Billion scam

Top army officers under probe over arms deal

Businessman Hassan Basajjabalaba has accused the Inspector General of Police Gen Kale Kayihura and Kampala Lord Mayor Erias Lukwago of benefitting from about Shs20b collected illegally from livestock traders at the city abattoirs.

Mr Basajjabalaba recently told the Parliament’s committee on Presidential Affairs that despite having been granted a 49-year lease effective June 13, 2001 to manage the abattoirs on plots 1, 2 and 5 on Port Bell Road that host lucrative city abattoirs, the properties were taken over by a group allied to Gen Kayihura and Mr Lukwago in December 2011.

Ref: Thursday, 17 November, 2016

Military intelligence is investigating top army officers in connection with a fraud case in which a Polish company lost more than Euros520,000 (about Shs2b) in a fake procurement deal of military hardware.

Sources say the investigations team reportedly led by Col Herbert Mbonye, the deputy military intelligence chief, has concluded inquiry against a top army officer at the rank of brigadier and others for their alleged interest in a Ugandan shady company that obtained the money after disguising as Ministry of Defence contract agency.

The Polish firm, BMP Poland Z.o.o, paid the money as consultancy fee to Prima Investments Uganda that claimed to be contracted by the Defence ministry to get a company to supply 375 tanks specified as T-54, T-55, T-72, T-90s, PT-76, BMPs and 46 reconnaissance Ferret and Eland armoured cars.

Ref: Sunday, 6 November 2016

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Angola

Ethiopia

Angola Economic Outlook

Angola: Inflation climbs to over-decade high

Ethiopian unrest triggers collapse in tourism

Ethiopia weighs options for iron ore extraction

Angola’s economy continues to suffer from the spillovers of the weak oil market in H2 2016. Fiscal and external positions have deteriorated due to the drop in oil prices, which negatively impacted government investment and the currency.

The weak kwanza has also lowered consumer purchasing power. In late October, the government approved a draft for the 2017 budget, which totals almost USD 45 billion and projects a fiscal deficit of 5.9% of GDP, below the revised 6.8% estimate for this year.

The government is basing its prediction on crude at USD 46 per barrel and on stronger non-oil fiscal revenues. More information about the government’s spending plan will be disclosed on 17 November, when parliament will discuss and vote on the draft law.

Ref: Tuesday, November 15, 2016

In October, consumer prices rose 1.79% from the previous month, down from September’s 2.14% increase.

According to the National Statistical Institute (Instituto Nacional de Estatística), the figure in October reflected increases in all 12 components of the index, with furniture, household equipment and maintenance as well as the clothing and footing category reporting the strongest rises.

Ref: Monday, November 14, 2016

A wave of anti-government protests and the imposition of a state of emergency has triggered a collapse in tourism bookings in Ethiopia, underlining the effect the unrest is having on one of Africa’s best-performing economies. Ref: Tuesday, 1 November 2016

The government say though studies have shown the country’s iron ore potential, the costly nature of extraction still poses a problem.

Forum was informed iron ore extraction and processing require heavy metallurgy industry and opens door for foreign investors and joint venture. Ref: Friday, 4 November 2016

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Kenya-Ethiopia road now awaits commissioningThe highway linking Kenya and Ethiopia is now complete and awaiting official commissioning President Uhuru Kenyatta and Ethiopian Prime Minister Hailemariam Desalegn.

The 500 kilometre Kenyan segment of the landmark road was built in four lots - Isiolo to Merille, Merille to Marsabit, Marsabit to Turbi and finally, Turbi to Moyale. The entire transport corridor runs from Mombasa to Addis Ababa, Ethiopia’s capital city. Ref: Saturday, 19 November 2016

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GhanaGhana’s oil and gas future extolled

October PPI increased slightly to 9.8%

Ghana’s public debt hits GH¢112 billion as at September 2016

Growth in petroleum sector to boost agriculture

Cabinet approves Ghana’s accession to Budapest Convention

Institute of Bankers to drive massive digital services in Ghana’s banking sector

Chief Director of the Petroleum Ministry, Professor Thomas Akabzaa, has given an upbeat assessment of the nation’s oil and gas industry, saying, its future is promising.

Ref: Friday, 25 November 2016

The Producer Price Index (PPI) numbers released by the Ghana Statistical Service (GSS) recently, revealed a marginal upward adjustment in the rates between September 2016 to that of October 2016.

The month of October according to the GSS recorded provisional figures of 9.8 percent from the 9.7 percent recorded in September 2016. The monthly change rate was negative 0.4 percent.

Ref: Wednesday, 23 November 2016

The country’s debt stock has reached GH¢112.4 billion as at September this year a summary of economic and financial data released by the Bank of Ghana (BoG) has revealed.

This came to the fore after BoG’s Monetary Policy Committee (MPC) met recently to review the health of the economy. The new amount, according to the November report shows that from July to September, the public debt has gone up by GH¢6.2 billion.

Ref: Sunday, 20 November 2016

Finance Minister Seth Terkper has indicated that the expansion of the petroleum industry will not hamper the contribution of agriculture to the Ghanaian economy. He was of the view that the petrochemical sector would rather spur development and increased growth of agriculture.

Ref: Tuesday, 22 November 2016

The Cabinet has approved Ghana’s accession to the Budapest Convention on cyber-crime, Mr Felix Ofosu Kwakye, a Deputy Minister of Communication has announced.

The Convention pursues as a matter of priority a common criminal policy aimed at protecting countries against cyber-crime by adopting appropriate legislation and fostering international cooperation.

Ref: Wednesday, 23 November 2016

The Chartered Institute of Bankers, Ghana (CIBG) says it would focus on developing digital services for the banking industry in the country starting 2017.

Newly inducted President of CIBG, Reverend Mrs Patricia Sappor said her administration will drive improvement in the banking sector to satisfy the needs of customers.

Ref: Wednesday, 23 November 2016

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Some good news from Mozambique: poverty levels have been reducedThere has been a serious deficit of good news in Mozambique for quite some time. The recent release of Mozambique’s Fourth Poverty Assessment, based on a large nationally representative household survey conducted in 2014-15, provides a welcome shift. The report finds that, relative to the prior survey undertaken in 2008-09, significant gains have been made in Mozambique’s fight to reduce poverty and improve living conditions across an array of measures and approaches. Ref: Tuesday, 14th November 2016

Mozambique

Kenya seeks to tap into Sh360 trillion Global Halal Industry

Inspectors fine thousands of shops

Nigeria should not criminalise forex possession

Kenya seeks to tap into the Sh360 trillion (US$3.6 trillion) global Halal industry and position itself as the hub of the growing sector in the region. Speaking during the two-day Halal Expo in Nairobi, Tourism Cabinet Secretary Najib Balala said Kenya should not be left behind from Halal industry that produces goods and services that target more than 1.6 billion Muslims and others across the globe

The industry includes food processing, pharmaceuticals, financial services, clothing, tourism, cosmetics among others that are in line with Islamic principles.

Ref: Sunday, 20 November 2016

Mozambique’s National Inspectorate of Economic Activities (INAE) recently announced that between January and September of this year, it had inspected 9,329 establishments.Speaking at a Maputo press conference, INAE assistant inspector Acacio Foia said that 4,448 of these shops (47.7 per cent) were fined for such offences as failing to display the prices of the goods on display, selling foodstuffs that were past their expiry date, and price speculation.

Ref: Monday, 14 November 2016

The ongoing attempt by the Nigerian Law Reform Commission to criminalise the possession of foreign currency is retrogressive and ill-conceived. In seeking to help the government tackle the acute forex crisis, the agency’s intervention may well serve to compound a worsening conundrum. A country in deep economic crisis like Nigeria needs well-articulated policy measures and coordination among all stakeholders, not panicky legislation.

Ref: Friday, 25 November, 2016

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Nigeria

KenyaKenya vows to win over Tanzania into backing EU trade deal

New plan to take export zones to all 47 counties

Kenya has vowed to keep on pushing for dialogue with Tanzania to join other East African countries in concluding the Economic Partnership Agreement (EPA) deal.

Industry, Trade and Co-operatives Cabinet Secretary Adan Mohamed said the Government will only give up winning over Tanzanian authorities in January, when East African Community (EAC) heads of State meet in Nairobi for a special summit. Ref: Thursday, 17 November 2016

Kenya is looking to set up at least one Export Processing Zone in all the 47 counties to replicate the economic impacts the initiative has had in the regions they have been situated. The country’s 56 EPZs attracted Sh48 billion in collective capital investments in 2015 as tax holidays wooed many to start manufacturing for export.

The EPZ Authority will soon also have larger units called Special Economic Zones to make it more attractive to investors seeking to carry out high capital ventures. Ref: Monday, November 28 2016

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Oil era will soon be over, says Osinbajo

14% MPR not in Nigeria’s interest; Will trigger inflation – Experts

Recession: Fourth quarters will be better – FG assures Nigerians

Recession: It’s up to you, CBN tells governmentNigeria’s Vice President Yemi

Osinbajo warns that the nation’s reliance on oil as a means of sustenance will soon be over with the development of technology. Osinbajo spoke recently at the E-Nigeria summit, organised by the National Information Technology Development Agency (NITDA) with the theme “leveraging I.T. Innovation for economic diversification”.

Ref: Wednesday, 23 November 2016

“The retention of Monetary Policy Rate (MPR) at 14 per cent will increase inflation rate and the banking sector non-performing loans (NPLs) profile,’’ some financial experts said recently. They told newsmen in Lagos that the retention of MPR was not in the best interest of the country, saying that it would escalate the inflation rate.

Ref: Wednesday, 23 November 2016

Following the shrinking of Nigeria’s Gross Domestic Product, GDP, by 2.24 percent in the third quarter of 2016, the Federal Government recently expressed optimism that the fourth quarter of the year will be better for the country as far as its economy is concerned.

Latest figures released by the National Bureau of Statistics, NBS, recently indicated that the Nigerian economy contracted by 2.24 percent after it had shrunk 0.36 percent in the first quarter, and 2.06 percent in the second quarter of 2016.

Ref: Wednesday, 23 November 2016

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday admitted that its monetary policy tool has run out of options and that the economy could only get the needed support from effective implementation of fiscal policies.

The verdict formed the basis for the committee’s decision to retain benchmark rate at 14 percent and this confirms yesterday’s exclusive report by The Guardian about impending depression as there is no harmony between monetary and fiscal policies of government.

Ref: Wednesday, 23 November 2016

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Rwanda tops World Bank CPIA scores Rwanda has for the second time in a row topped the World Bank Country Policy and Institutional Assessment (CPIA) ranking for sub-Saharan Africa, scoring 4.0 points out of a possible 6.

Rwanda’s score is above the average sub-Saharan score of 3.2. Rwanda also scored a joint top ranking alongside Samoa for all countries that receive International Development Assistance (IDA) from the World Bank.

“This is good news for us. It is a clear indication of confidence that World Bank has in Rwanda’s policies and systems. It shows that we are steering the country in the right direction in terms of poverty eradication and sustainable inclusive growth,” the Minister for Finance and Economic Planning Claver Gatete said.

Ref: Saturday, 19 November 2016

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RwandAir acquires Africa’s first Boeing 737-800 Next Gen RwandAir has acquired Africa’s first Boeing 737-800 Next Generation that the national flag carrier hopes will boost its capacity and competitiveness around the globe.

The brand new aircraft, given the local monicker ‘Kalisimbi,’ touched down at Kigali International Airport at 4pm, yesterday.

RwandAir becomes the first airline in Africa and second globally to acquire a Boeing 737-800NG equipped with in-flight connectivity on a line-fit programme, including WiFi.

Ref: Thursday, 17 November 2016

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Rwanda

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Rwf15bn govt bond issuance oversubscribed The Rwf15 billion three-year government Treasury bond issued recently recorded a slight improvement in investor participation rate, indicating the growing appetite among investors for government paper.

According to a statement from the central bank, the bond subscription rate was 139.05 per cent, a marginal rise from 139 per cent recorded in the August issuance.

However, institutional investors have continued their dominance this year, registering a 72.8 per cent participation rate, an increase from 71.3 per cent in the August issue, and 50.3 per cent in May. Ref: Thursday, 17 November 2016

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Consumer inflation speeds up, led by food prices

Tanzania

Consumer inflation moved further outside the Reserve Bank’s 3%-6% target range in October, as some economists had expected.

The consumer price index increased 6.4% in October from a year earlier, Statistics SA said recently, after the 6.1% increase reported last month for September.

Ref: Wednesday, 23 November 2016

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Shilling to remain stable thanks to cashew exportsCashew nuts export earnings are expected to stabilize the shilling throughout December to next February, money experts projected. The shilling remained stable against the US dollar closing at 2170/90 on Tuesday.

Ref: Wednesday, 23 November 2016

Read full storyEconomist raises alarm over ‘damaging interventionist policies’

Zuma questioned on Brexit impact on SA

As unemployment figures reach a 13-year high, an economist is raising the alarm over what he termed interventionist policies.Gerhard van Onselen, an economics researcher at trade union Solidarity, commented that employment statistics figures paint a gloomy picture.

“If last year’s figures for the third quarter are compared to the current third quarter figures, we see that the estimated number of working people have increased by a mere 5 000, from 15.828 million in Q3 2015 to 15.833 million in Q3 2016. Ref: Thursday, November 24 2016

South Africa has strong relations with the United Kingdom and the European Union and will continue to deepen relations with these countries, said President Jacob Zuma on Wednesday. Ref: Wednesday, November 23 2016

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South Africa

Hopes on EU free trade fade with MPs rejection

Dar bank seals 25bn/- deal with AFD for renewable energy projects

Members of Parliament in Tanzania have dealt a crushing blow on hopes for the East African Community to sign the Economic Partnership Agreement (EPA) with the European Union as a bloc after rejecting it as a raw deal.

The lawmakers meeting in Dodoma last week urged the government not to sign the Economic Partnership Agreement (EPA) between the European Union (EU) and the East African Community (EAC) member states saying they want a better deal that will protect the country’s infant industries.

Ref: Tuesday, 15 November 2016

Bank of Africa Tanzania has signed a credit facility agreement with the French Development Agency (AFD) worth 11.84 million US dollars (about 25.67bn/-) for lending to renewable and efficiency energy projects in Tanzania.

Ref: Wednesday, 23 November 2016

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UgandaUEGCL and UETCL take charge of Karuma, Isimba

NSSF stake in Umeme rises to 23% after Shs60bn deal

Uganda’s generation and transmission firms UEGCL and UETCL have taken over administration of mega power projects Karuma and Isimba.“Glad to inform that this morning I received, on behalf of @UegclP , the Deeds of assignment for Karuma and Isimba,” tweeted Harrison Mutikanga, Uganda Electricity Generation Co.Ltd (UEGCL) CEO.

The Karuma 600 MW and 183 MW Isimba dams have been in the news for several reasons in the past six months.

Ref: Tuesday, 22 November 2016

The National Social Security Fund (NSSF) is now cementing its position as the single largest investor in Umeme, after purchasing an additional 121million shares in the utility company for Shs59.4bn. NSSF announced today that it had reached an agreement with Actis to acquire 7.5 percent of the shares it held in Umeme.

That means NSSF’s stake will increase from 15.5 percent to 23 percent.

“Umeme Limited also enjoys attractive future prospects, making it a key holding in our equity investments portfolio. The investment also fits well with our strategy to diversify our investments portfolio, a key component of our Corporate Strategy to grow the Fund to Ushs 20 trillion by 2025,” Mr. Richard Byarugaba, the Managing Director NSSF said in a statement.

Ref: Monday, 7 November 2016

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What launch of Single Electronic Window means for UgandaUganda Revenue Authority (URA) has launched the Uganda Single Electronic Window system. The new system will see a 30% reduction in transaction costs for the private sector, writes Juddie Kilungu.

It will also reduce the average trade document processing time by 30% as it allows people involved in trade and transport to lodge standardised information and documents in a single entry point to fulfill all import, export and transit related regulatory requirements. These documents include custom declarations, trading invoices, applications for import and export permits and certificate of origins.

Ref: Tuesday, 15 November 2016

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