Ethiopia postpones planned privatization of Ethiopian Airlines
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Ethiopia postpones planned privatization of Ethiopian Airlines

ByBrian Kithinji

Ethiopia’s Finance Ministry has postponed the planned privatization of Africa’s most profitable airline – Ethiopian Airlines, as it aims to maintain current capacity of its flagship carrier. In a press conference, Minister of Finance Ahmed Shed said, “With the currency efficiency and competitiveness, the plan of the government is to make Ethiopian airlines more strong….

Rwanda to earn $10 million per hectare from medical cannabis exports
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Rwanda to earn $10 million per hectare from medical cannabis exports

ByBrian Kithinji

Rwanda’s government has confirmed that it is in discussions with four American and European companies about processing cannabis for export, in order to meet increasing global pharmaceutical demand for the drug. Officials announced that the move, if successful, would boost the state’s revenues as it battles the effects of coronavirus pandemic. Rwanda is the latest…

Mozambique to receive EU aid in combating increased terror activity
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Mozambique to receive EU aid in combating increased terror activity

ByBrian Kithinji

Mozambique will receive support from the European Union in tackling increased terror attacks in the country’s north. The EU Ambassador to Mozambique, Antonio Sanchez Gaspar announced the offer, while insisting that the aid will be more in terms of training, logistics and medical services to the Mozambican Defence Forces. “The government of Mozambique has asked…

The new “Singapore?” Ghana’s economic success sets model for sub-Saharan Africa
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The new “Singapore?” Ghana’s economic success sets model for sub-Saharan Africa

ByBrian Kithinji

Ghana has officially become the first country in sub-Saharan Africa to achieve the Millennium Development Goal 1, which is the target of halving extreme poverty. The success stories don’t end there though. According to a report from the Ministry of Finance, the country became a middle income economy in June, and with an economic freedom…

Zambia set to default external debt
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Zambia set to default external debt

ByBrian Kithinji

Zambia is set to default on its external debt when the copper producing nation misses $118 million in interest payments on Eurobonds due from October 14 to March 2021. The Southern African country is banking on a comprehensive debt restructuring plan but without help from its largest creditor, China, as well as a substantial macroeconomic…

Nigeria Vice President denies government will issue Eurobonds
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Nigeria Vice President denies government will issue Eurobonds

ByBrian Kithinji

Vice President Yemi Osinbajo has denied Nigeria will issue Eurobonds due to their hefty expenses and instead look for alternative ways to raise funds to support the economy as it battles a looming recession. In a news conference, Osinbajo said, “We are not likely going to explore again the Eurobond market because we are trying…

South Sudan eyes currency change to ease economic woes
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South Sudan eyes currency change to ease economic woes

ByBrian Kithinji

South Sudan will change the country’s currency, in a move the government says is aimed at improving its beleaguered economy. Information Minister Michael Makuei Lueth broke the news at a press conference in the capital Juba, following a cabinet meeting that approved the change. “The cabinet has decided that the current currency should be changed….This…

South Africa’s private sector activity picks up in September
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South Africa’s private sector activity picks up in September

ByBrian Kithinji

Private sectors activity in Africa’s most industrialized nation, South Africa, declined at a slower rate in the month of September as the government relaxed strict lockdown measures imposed to stem the spread of the novel coronavirus. The IHS Markit Purchasing Managers’ Index (PMI) climbed to 49.4 in September from 45.3 in the previous month, illustrating…

Another false start; Togo’s new government will not improve the volatile situation
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Another false start; Togo’s new government will not improve the volatile situation

ByBrian Kithinji

They’ve been here before. Nothing has changed. On September 25, an announcement was made in Togo that would, in any other country, send shockwaves both within and outside. The Prime Minister Selom Klassou and his government tendered their resignation, paving the way for a new team to take over. Then another announcement came on September…

Malawi seeks to boost ties with strategic ally Tanzania
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Malawi seeks to boost ties with strategic ally Tanzania

ByBrian Kithinji

In his fourth trip as head of state, Malawian President Lazarus Chakwera chose to travel to neighboring Tanzania and boost trade ties as he embarks on sweeping changes aimed at lifting the economy. For years, Malawi and Tanzania have been major trading partners, though relations between the two nations are not rosy. A border dispute…

BAT Kenya in trouble as health minister says license to sell LYFT nicotine pouches illegally awarded
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BAT Kenya in trouble as health minister says license to sell LYFT nicotine pouches illegally awarded

ByBrian Kithinji

British American Tobacco Kenya wrongly received a license from regulators to sell LYFT nicotine pouches, Kenya’s health minister Mutahi Kagwe says. In a letter to Kenya Pharmacy and Poisons Board, Mutahi Kagwe accused the regulator of violating several provisions of the country’s laws when it licensed LYFT. BAT Kenya, which is part of British American…

Corruption risks force Ghana’s government to suspend $500 million gold royalty fund’s London listing
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Corruption risks force Ghana’s government to suspend $500 million gold royalty fund’s London listing

ByBrian Kithinji

The Ghanaian government has pulled back the $500 million listing of its gold royalty fund Agyapa Royalties in London, as concerns mount over transparency and accountability. The main opposition party, National Democratic Congress, has raised fears that the funds would be misappropriated while questioning the listing process. Other civil society groups and independent economists have…

Zambia Chamber of Mines calls on government to institute tax reform in the mining sector
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Zambia Chamber of Mines calls on government to institute tax reform in the mining sector

ByBrian Kithinji

Zambia Chamber of Mines has asked the government to reform its taxation policies and treat mineral royalty payments as a deductible expense, in order to eliminate double taxations and spur investment in the sector. Since Parliament passed new tax regulations in 2019, mineral royalty payments have not been treated as a deductible expense when calculating…

Uganda’s government to finance road construction in neighboring DR Congo
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Uganda’s government to finance road construction in neighboring DR Congo

ByBrian Kithinji

Uganda will finance projects to construct over 200 kilometers of road in its eastern neighbor –DR Congo, so as to boost trade between the two nations. The Democratic Republic of Congo is one of the poorest countries in the world, despite possessing unmatched size and wealth of natural resources. Decades of corruption, mismanagement, and conflict…

Ivory Coast’s cocoa production to drop by 60,000 tonnes
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Ivory Coast’s cocoa production to drop by 60,000 tonnes

ByBrian Kithinji

Cocoa production in Ivory Coast will drop by 60,000 tonnes from last year’s production levels in a move that is set to shake up the global markets. Experts and traders believed that an increase in cocoa production would have an effect in lowering market prices resulting to reduced much-needed revenues for the government in Yamusukro….

Ivory Coast government announces $15.47 billion budget for 2021 financial year
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Ivory Coast government announces $15.47 billion budget for 2021 financial year

ByBrian Kithinji

Ivory Coast’s government has announced a new budget of $15.47 billion for the 2021 financial year, marking an increase of 6.9% on 2020’s budget. According to the Government Spokesman’s Office, the budget’s increase is meant to improve the living standards of people affected by the corona virus pandemic. As such, there are inclusions of social…

South Africa’s tourism sector at risk as government maintains ban on travel from “high risk” nations
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South Africa’s tourism sector at risk as government maintains ban on travel from “high risk” nations

ByBrian Kithinji

South Africa’s government has maintained that leisure travelers from countries with higher coronavirus infection rates will not be allowed to enter the country when the borders reopen on October 1. The list of countries includes the United States, United Kingdom, France, Brazil, India, the Netherlands and Russia. However, business travelers from these countries, which are…

Central Bank Governor projects Kenyan economy to grow by 3.1%
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Central Bank Governor projects Kenyan economy to grow by 3.1%

ByBrian Kithinji

Despite Kenya reeling from the effects of the coronavirus pandemic, the economy is set to expand by 3.1% this year, according to the Central Bank Governor Patrick Njoroge. The forecast reflects growing optimism among policy makers; though the Central Bank Governor’s estimate is the highest. The Ministry of Finance is expecting a growth of around…

Zambian government seeks $1 billion in debt service relief
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Zambian government seeks $1 billion in debt service relief

ByBrian Kithinji

Zambia’s government says that the nation is on the verge of receiving $1 billion in debt service relief should all its requests to official and commercial creditors be granted. The country’s Finance Minister Bwalya Ng’andu revealed in a presentation to creditors that Zambia has made formal requests that aim to wipe out its debt. “We…

New West Africa currency faces delay of up to five years
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New West Africa currency faces delay of up to five years

ByBrian Kithinji

The new West African currency that was earmarked to replace the CFA franc will not launch this year due to the corona virus pandemic. Ivorian President Alassane Quattara revealed the information in a press conference during a visit to the southern city of Bouafle. “We know the eco (proposed name of the new currency) cannot…