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H+K Africa Digest | January 2017 | 1 H+K January 2017 Africa Digest Summary of Key Political & Economic Developments Angola Ethiopia Ghana Kenya Mozambique Nigeria Rwanda South Africa Ta n z a n i a Uganda
2 H+K Africa Digest | January 2017
+ Political Dar EPA stance
Angola dims Kenya’s bid for
Fear of return of
M23 rebels now fuels
4 Over 100,000 citizens uniform customs rules tensions in Eastern
able to participate in DRC
general elections
Ruling party official
Mozambique South Africa
calls for vigilance Default no surprise,
Patricia de Lille quits
among militants says IMF
as DA’s leader in the
Western Cape
Ethiopia 6 EU ambassador
optimistic about Nkosazana Dlamini-
Ethiopia cuts peace talks Zuma returning to SA
diplomatic ties with for ANC presidency
South Sudan New deputy
bid
governor
Zambia, Ethiopia to of Central Bank sworn ANC succession race
heighten ties in hots up
5 Ethiopia targets
opposition who
Nigeria Tanzania
met with European Nigerian senate Magufuli invites
lawmakers debates troops Turkey to multi-trillion
deployment to railway project
Gambia
Ghana State bans group
$1bn China No plan to increase
refugees’ entry
Development Bank petrol price from
N145 per litre, NNPC
loan can’t be paid?
tells Nigerians
8 UK pledges to help
Tanzania achieve
Prosper Bani hails quality education
Ghana’s decision Pro-Biafrans
on sending troops to announce
Gambia Trump solidarity rally Uganda
Queries raised on
The Gambia crisis: U.S.$1.7 Million
President Akufo- Rwanda ‘Presidential
Addo advised not to Kagame assures Handshake’
interfere diplomats peaceful
Uganda seeks to stall
presidential elections
Kenya 7 Opposition in
U.S.$10 Billion Congo
Hague case
Obama’s parting gift Rwanda seeks rival Speaker Kadaga
to Kenya: A Sh43bn against President throws out Justice
arms deal Kagame Kavuma’s ‘stupid’
Britain promises better order
deals with Kenya
after EU exit
H+K Africa Digest | January 2017 | 3
+ Economic
Angola Kenya Rwanda
9 Economic crisis Kenya to host
economic forum
Bond market records
Rwf46.4 Million
helped Angolans
control spending – organised by global
MP media house 12 Rwanda gets Rwf 32.2
billion in agriculture
Angola is expected KAA seeks Sh29bn
to return to economic World Bank loan to Rwanda to resume
growth from 2017 upgrade airports petroleum search in
Lake Kivu in March
Economic Free SMS platform to
team analyzes fiscal,
foreign exchange
enhance data
access
South Africa
policy issues Zuma’s projected
Mozambique Tanzania
Ethiopia Mozambique’s
2.9% growth rate
‘nonsense’, say
Ethiopian Airlines to
add seven new 11 economic growth is economists
expected to increase Reserve Bank
routes
from 2018 keeps benchmark
Nation expects 940 Mozambique default repurchase rate
mln. USD from coffee on eurobond was unchanged at 7%
export unnecessary
2017 key economic
Nation expects 940 trends to watch in
mln. USD from coffee Bank of Mozambique
guides monetary Africa
export
policy to economic
Addis-Djibouti growth of 5.5% in Tanzania
Railway: A ‘real plus’ 2017 Dar, Ankara eye
to manufacturers 2trillion trade volume
Nigeria 13 Bill Gates supports
Ghana poultry industry
FG’s programmes
10 Bank of Ghana
aim to empower TCRA alerts on cyber
to introduce a illegal money
Nigerians, says
commemorative transfers
Osinbajo
GH¢5 note
Ghana, Morocco to 2017 Budget: Senate
Uganda
harmonize trade on increases oil price to Museveni promises
Capital Market $44.5/Per Barrel power cuts in his 2017
priorities
Replace tax cuts with We simply can’t allow Uganda’s coffee
realistic sources of the Naira to float, exports increase in
revenue - Analyst says Osinbajo quality and quantity
Licenced BDCs
BoG Governor Banks to increase
not parallel market
Positive about lending to private
operators, says
Ghana’s economic sector, BoU predicts
ABCON
growth
4 H+K Africa Digest | January 2017
Political
News
Roundup
Angola Ruling party official
calls for vigilance
Zambia, Ethiopia to
heighten ties
Over 100,000 citizens among militants Ref: 18 January 2017
able to participate in Ref: 23 January 2017 Zambia and Ethiopia
general elections Militants and sympathizers of would this year hold a joint
the ruling MPLA party should permanent commission
Ref: 25 January 2017
remain vigilant and get meeting aimed at
At least 153,848 citizens of over mobilised in order to ensure strengthening their bilateral
18 years old are already able the party’s victory in the cooperation.
to vote in this year’s general country’s General Elections set
elections, said the governor for 2017. In a statement, Zambian
of the northern Zaire province, Foreign Affairs Minister Harry
José Joanes André. The appeal was launched Kalaba said Monday the joint
by first secretary of MPLA in permanent commission, to be
Speaking at the opening Northern Province of Cuanza held in Lusaka, the Zambian
ceremony of the first ordinary Norte, José Maria Ferraz dos capital, on March 28 would
meeting of the provincial Santos. The MPLA official improve trade and economic
government, the official was speaking in Luanga activities between people of
explained that the figures commune, 50 kilometers east the two countries.
refer to the voter registration of Camabatela, Ambaca
update, voter card reissuance municipality. The minister further indicated
along with registration of new as three bilateral agreements
voters, whose process started Read more are scheduled for signing
in last August. which are visa waivers for
Zambians entering Ethiopia,
an extradition treaty and
Read more
Ethiopia an agreement to be signed
by Ethiopia to establish its
At least Ethiopia cuts
embassy in Zambia.
153,848 diplomatic ties with Read more
South Sudan
citizens of
Ref: 24 January 2017
over 18 A diplomatic row has broken
years old out between South Sudan
and neighbouring Ethiopia
are already following rumours on social
media that President Salva Kiir
able to vote accepted to allow Ethiopian
in this year’s rebels to open their office in
the capital Juba.
general Read more
election
H+K Africa Digest | January 2017 | 5
Ethiopia targets The Gambia crisis: Britain promises better
opposition who President Akufo- deals with Kenya after
met with European Addo advised not to EU exit
lawmakers interfere Ref: 25 January 2017
Ref: 10 January 2017 Ref: 18 January 2017 The United Kingdom has said
Director of Academic Affairs it will have a free hand to sign
Ethiopia said it will not release
at the Ghana Armed Forces better deals with Kenya once
a leading opposition figure
Command and Staff College it completes its exit from the
detained under the country’s
says it will be imprudent for European Union.
state of emergency after
meeting with European Ghana, on its own, to take any
action against President of The UK High Commissioner to
lawmakers in Belgium.
Gambia, Yahya Jammeh. Kenya Nic Hailey said that
without the restrictions that
Prime Minister Hailemariam Read more
go with membership to a
Desalegn told reporters that
trading bloc like the EU, Britain
Merara Gudina of the Oromo
would negotiate “better and
Federalist Congress party
lucrative” agricultural produce
instead will face justice.
Read more Kenya deals with Kenya.
Read more
Ghana Dar EPA stance dims
Kenya’s bid for uniform
$1bn China
customs rules
Development Bank
Ref: 30 January 2017
loan can’t be paid?
Kenya’s bid to build a shared
Ref: 18 January 2017
customs with its neighbours in
The Public Interest and East Africa remains in limbo as
Accountability Committee Tanzania continues to show
(PIAC) has expressed doubts reluctance to sign a crucial
about the ability of the Ghana pact with the European
National Gas Company Union as deadline nears, a
(GNGC) to commence the new report says. The report
scheduled amortisation of by financial advisory firm Citi
the approximately US$1billion says Kenya’s quest to rally the
China Development bloc to ratify the economic
Bank (CDB) loan facility Obama’s parting gift partnership agreement (EPA)
that was contracted by to Kenya: A Sh43bn will likely hit a brick wall as Dar
the Government for the arms deal es Salaam sticks to its guns in
construction of the Atuabo shunning the pact.
Gas Processing Plant. Ref: 25 January 2017
Read more
Read more Former US president Barack
Obama approved the
Prosper Bani hails
proposed sale of arms to
Kenya and submitted the
Mozambique
Ghana’s decision proposal to Congress a day
Default no surprise,
on sending troops to before he left office last
Friday — signalling his resolve says IMF
Gambia to strengthen Nairobi’s fight Ref: 20 January 2017
Ref: 19 January 2017 against terrorism in the Horn of
Africa. The Mozambican
The immediate past Minister government’s failure to pay
for Interior, Prosper Bani, has If approved by Congress, interest of almost 60 million US
hailed Ghana’s decision the Sh43 billion deal will see dollars on the bonds originally
to send troops to augment Kenya acquire 12 Air Tractors, issued by the Mozambique
Ecowas’ force in attempt to capable of launching air to Tuna Company (Ematum),
drive out Gambian President, ground missiles with precision, which fell due this week,
Yahya Jammeh. Ghana is two trainer aircraft and comes as no surprise, the
sending 205 combat troops an unspecified ‘weapons resident representative of the
to Gambia to join the sub- package.’ International Monetary Fund
regional mission, which aims at (IMF), Ari Aisen, told reporters
forcing President Jammeh out Read more on Thursday.
of office if he does not step
down. Read more
Read more
6 H+K Africa Digest | January 2017
EU ambassador
optimistic about
The Nigerian Air Force
confirmed on recently Rwanda
that it had deployed 200
peace talks soldiers, fighter jets and other
Ref: 11 January 2017 equipment to Senegal for an
eventual mission in Gambia.
The European Union
ambassador to Mozambique, Read more
Sven von Burgsdorff, declared
his conviction that in the
coming days there will be No plan to increase
“notable advances” which petrol price from N145
could lead to the restoration per litre, NNPC tells
of lasting peace.
Nigerians Kagame assures
He was speaking to reporters Ref: 19 January 2017 diplomats peaceful
in Maputo, immediately after
The Nigerian National
presidential elections
an audience granted by
Petroleum Corporation, NNPC, Ref: 24 January 2017
President Filipe Nyusi, which
has said that the federal
he described as “constructive, President Kagame has told
government has no plan to
transparent and open”. members of the diplomatic
increase the price of petrol
corps that presidential
Read more from N145 per litre.
elections slated for August 4,
Read more 2017 will be conducted in a
fair, transparent and peaceful
New deputy governor way as others had been held
before in the country.
of Central Bank sworn
in “We are looking forward to a
constructive and meaningful
Ref: 03 January 2017
election later this year marking
Mozambican President Filipe an important period of
Nyusi urged the new Deputy consolidation for our country.
Governor of the Bank of Rwandans have come to
Mozambique, Victor Pedro expect things to be done
Gomes, to make every effort thoughtfully, openly and in a
to help stabilize the country’s security while strengthening
economy. our unity.
Speaking at the ceremony Pro-Biafrans announce For us, this is an important
where he swore Gomes into Trump solidarity rally approach that we have
office, Nyusi said “we expect pledged will be preserved,”
Ref: 18 January 2017
from the Bank of Mozambique said Kagame.
concrete actions that allow A pro-Biafra group recently
the restoration of macro- announced its intention Read more
economic stability”. to hold a rally in Nigeria in
support of Donald Trump on
Read more
his inauguration day as US
president.
Hundreds of protests against
Nigeria Trump are expected to take
place around the world on
Friday when the billionaire
Nigerian senate businessman is sworn into
debates troops office as 45th president of the
deployment to United States.
Gambia Read more
Ref: 19 January 2017
The Senate opposed President
Muhammadu Buhari’s
deployment of troops to The
Gambia without the approval
of the National Assembly.
H+K Africa Digest | January 2017 | 7
Opposition in Rwanda But recently, Kampala ANC succession race
confirmed that 40 members
seeks rival against of the rebel group interned
hots up
President Kagame in a military base in western Ref: 30 January 2017
Uganda had escaped from
Ref: 19 January 2017 The race to lead the ANC has
the camp, while more than
been thrown wide open with
Several political parties that 100 were arrested as they
the entry of Minister in the
backed the amendment of tried to cross over to the DRC.
Presidency Jeff Radebe and
the Constitution to remove Conflicting reports indicate
former party treasurer general
term limits and allow President that a bigger number could
Mathews Phosa.
Paul Kagame to run in this have escaped from the
year’s presidential election, Bihanga Army Barracks.
Phosa and Radebe join former
now say they will field Read more AU Commission chairperson
presidential candidates of
Dr Nkosazana Dlamini Zuma,
their own.
Deputy President Cyril
Eleven political parties are
recognised in Rwanda and all
South Africa Ramaphosa and National
Assembly Speaker Baleka
except the Democratic Green Mbete in the race to succeed
Patricia de Lille quits President Jacob Zuma.
Party of Rwanda (DGPR)
backed the referendum to as DA’s leader in the
Read more
amend the Constitution, Western Cape
approved in December 2015.
Tanzania
Ref: 30 January 2017
Despite backing the removal Patricia de Lille has resigned
of term limits, several of as the DA’s Western Cape
these pro-government leader‚ a move effective from Magufuli invites Turkey
parties are now saying that February 1. She will stay on as to multi-trillion railway
they will be participating in Cape Town mayor.
the August polls, either by
project
fielding candidates or forming In her resignation letter to Ref: 24 January 2017
coalitions with others to run DA leader Mmusi Maimane‚
against President Kagame. President John Magufuli asked
she says she believes she has
the Turkish government to
achieved the goals she set as
provide a concessional loan
Read more provincial leader.
for the construction of at least
Read more 400 kilometre-stretch of the
Fear of return of envisaged standard gauge
central railway.
M23 rebels now fuels
Nkosazana Dlamini-
tensions in Eastern DRC President Magufuli as well
Zuma returning to SA revealed that a Turkish
Ref: 21 January 2017
for ANC presidency company was among the
The reported re-emergence bid short-listed contractors that
of M23 rebels in eastern had bid for implementation
Democratic Republic of Ref: 30 January 2017 of the multitrillion shilling
Congo could present a A key event that could project that covers over 1,200
security problem for President shape ANC national politics kilometres from Dar es Salaam
Joseph Kabila, who is currently is the return of outgoing AU to Mwanza.
facing political resistance. chairwoman Nkosazana
Dlamini-Zuma this week after
There are fears that the rebel Read more
her successor is elected at
insurgents could unleash an ordinary session of heads
chaos in the already fragile of state and government in
east of the country. Ethiopia. State bans group
refugees’ entry
When Kinshasa initially raised Dlamini-Zuma is an early
the red flag saying that a frontrunner in the battle for Ref: 25 January 2017
group of M23 rebels had the ANC presidency, set to Refugee groups from the
crossed over from Uganda be decided at the party’s Great Lakes Region were
and captured a village in the national conference in effectively banned from
eastern region, the Ugandan December when it elects a entering the country, with
government denied the successor to Jacob Zuma. the government saying there
claims.
Read more is no security threats in the
neighbouring countries to
warrant their flees.
Read more
8 H+K Africa Digest | January 2017
UK pledges to help Uganda seeks to stall
Tanzania achieve U.S.$10 Billion Congo
quality education Hague case
Ref: 25 January 2017 Ref: 25 January 2017
United Kingdom (UK) has Kampala last week
pledged to continue dispatched Attorney-General
supporting Tanzania’s William Byaruhanga to the
education sector to International Court of Justice
supplement the government’s (ICJ) at The Hague, as
efforts of ensuring quality renewed pressure mounted on
education to all children. the government to settle an
almost 20 year-old reparation
Head of UK’s Department for dispute with the Democratic
International Development Republic of Congo.
(DFID’s) Tanzania Vel
Gnanendran made the The Court in 2005 ordered the
pledges when he met with government of Uganda to
the Minister for Education, pay $10 billion to DR Congo
Science and Technology, following a complaint Kinshasa
Professor Joyce Ndalichako, at filed in 1999.
the sidelines of the Education
World Forum taking place in The complaint covered
the European country. acts of armed aggression,
massive human-rights
Read more violations, looting, destruction,
confiscation of property
Uganda and arrest of persons and
other unlawful acts against
its neighbour. A political
Queries raised on solution has been in the
U.S.$1.7 Million works between the two
countries since 2014 when the
‘Presidential governments moved to repair
Handshake’ relations. Time is now of the
essence to expedite this.
Ref: 09 January 2017
Read more
A storm is raging over the
payment of $1.7 million in
bonuses to 42 government
officials who helped Speaker Kadaga
Uganda win disputes with throws out Justice
oil companies over capital
Kavuma’s ‘stupid’
gains taxes on the resale of oil
blocks. order
Ref: 11 January 2017
The payments, since
christened the “presidential Speaker Rebecca Kadaga
handshake,” because they yesterday christened Deputy
were authorised by President Chief Justice Steven Kavuma’s
Yoweri Museveni last May order, stopping Parliament or
without parliamentary any individual from inquiring
approval, have caused into the Shs6b oil cash
outrage because they amount bonanza as “stupid” and
to a double payment for civil with unflinching fists declared
servants who are employed the House sittings suspended
by taxpayers to perform their indefinitely.
duties anyway.
Read more
Read more
H+K Africa Digest | January 2017 | 9
Economic
News
Roundup
Angola Economic team
analyzes fiscal, foreign
Ethiopia has set a goal of se-
curing 940 million USD export-
ing 241,000 tonnes of coffee
Economic crisis helped exchange policy issues this year. In a recent briefing,
Ethiopian Coffee and Tea
Angolans control Ref: 12 January 2017
Development and Marketing
spending – MP Documents of the Fiscal, Mon- Authority Director General Sani
etary and Exchange Policy Redi said modernizing coffee
Ref: 08 January 2017
Coordination Committee are value chain, employing IT
The economic and financial under analysis at the first joint assisted export control system
crisis that plagued the coun- meeting of the Economic and and improving Ethiopian Com-
try in 2016 helped Angolans Real Economy Commissions of modity Exchange (ECX) ca-
to learn to better control the Council of Ministers, which pacity are fundamental tasks
their spending and manage is taking place Thursday at the being carried out to hit the
incomes so as not to squander Presidential Palace in Luanda. target. According to him, the
existing resources, National Authority is expecting 702,000
Assembly deputy Monteiro Read more tonnes of coffee production
Capunga said on Saturday. this year. He noted that the
Read more Ethiopia volume of export planned
for the year would make the
country second coffee export-
Ethiopian Airlines to ing country next to Brazil.
add seven new routes
Read more
Ref: 20 January 2017
Ethiopian Airlines will fly to
seven new destinations in the Addis-Djibouti Railway:
next five months, the firm said A ‘real plus’ to
recently. manufacturers
Ref: 25 January 2017
In its new record expansion
Angola is expected plan, the Ethiopian flag carrier The Ethiopian Railways Cor-
to return to economic says that starting February poration (ERC) said the Addis
growth from 2017 to June this year, it will fly to Ababa- Djibouti Railway is a
Victoria Falls in Zimbabwe, Co- real plus to the present and
Ref: 18 January 2017 nakry-Guinea, Antananarivo potential manufacturers prod-
Angola is expected to return (Madagascar), Oslo (Norway), uct export.
to higher economic growth Jakarta (Indonesia) Chengdu
rates higher from this year, (China) and Singapore. In an exclusive interview with
after in 2016 it posted growth The Ethiopian Herald, ERC Cor-
Read more
of just 0.6%, mainly due to the porate Communication Servic-
fall in revenues from the sale es Head Dereje Tefera said the
of oil, according to the latest
Nation expects 940 railway, which is currently on
report from the Economist mln. USD from coffee trial services, would add an im-
Intelligence Unit (EIU). export mense value to manufacturers
currently operating in Ethiopia.
Read more Ref: 15 January 2017
Read more
Ethiopia is working to become
second coffee exporting
country.
10 H+K Africa Digest | January 2017
Ghana BoG Governor Positive
about Ghana’s
KAA seeks Sh29bn
World Bank loan to
Bank of Ghana economic growth upgrade airports
to introduce a Ref: 19 January 2017 Ref: 23 January 2017
commemorative GH¢5 The Governor of Bank of The Kenya Airports Authority
note Ghana (BoG), Abdul-Nashiru (KAA) is seeking a Sh29 billion
Issahaku, says Ghana’s loan from the World Bank to
Ref: 19 January 2017 economic prospects look finance the upgrade of the
The GH¢5 cedi note will have brighter as the nation is country’s airports.
additional security features currently free from worst
that are sensitive to touch to energy crises. He observed Under an initiative dubbed
enable the visually impaired that though there were global Kenya Aviation Modernisation
identify it. The note, when uncertainties, the nation had Project, KAA said yesterday
introduced will be a legal the capability to address some it plans to use part of the
tender as well as a collector’s of its economic hiccups. proceeds to improve
item. The climax of the 60-year passenger terminal capacity
Read more
celebration of the Bank of at the Jomo Kenyatta
Ghana is, however, expected International Airport (JKIA)
to take place in August this
year. Kenya in Nairobi as well as boost its
management systems.
Read more Kenya to host Read more
economic forum
Ghana, Morocco to organised by global
harmonize trade on media house
Capital Market Ref: 24 January 2017
Ref: 19 January 2017 Kenya is set to host a high-
Officials of the Casablanca level economic forum in
Stock Exchange have February organised by a unit
commenced discussions with of The Economist magazine.
their Ghanaian counterpart
to harmonize the operations This is the second time in three
between the two markets. years that Kenya is hosting Free SMS platform to
This is to ensure traders on the ‘‘Innovating Economies’’
conference organised by the enhance data access
both sides get access to each
other’s market. events arm of The Economist. Ref: 24 January 2017
Read more “The summit will bring together Smallholder farmers are
institutions, investors and set to benefit from a free
innovators from diverse short message service that
Replace tax cuts with industries with policy-makers will enable them to access
realistic sources of from across the continent and share vital agricultural
to discuss the changes information without the
revenue - Analyst Internet.
and benefits brought on by
Ref: 16 January 2017 high-tech inventions and
technology as well as policy The service named Internet for
Taxes such as the 17.5 percent People with no Internet was
VAT on financial services and interventions and business
processes that add value launched in Nakuru County at
domestic air tickets would be a stakeholder’s meeting. The
scrapped while others such and solve real challenges,”
said Sunayna Sethi, senior platform, driven by WeFarm
as corporate income tax -a peer-to-peer network, will
would be reduced from 25 to programme editor for Europe,
Middle East and Africa at The enable farmers to share crop
20 percent. Also, the special and livestock data via the
import levy, 17.5 % VAT on Economist.
texts without leaving their
imported medicines not Read more farms.
produced in Ghana, 5% VAT
on Real Estates are expected Read more
to be abolished under the NPP
government.
Read moreH+K Africa Digest | January 2017 | 11
Mozambique Nigeria Licenced BDCs
not parallel market
Mozambique’s FG’s programmes aim operators, says
economic growth is to empower Nigerians, ABCON
expected to increase says Osinbajo Ref: 19 January 2017
from 2018 Ref: 19 January 2017 Bureaux De Change (BDCs)
licenced by the Central Bank
Ref: 13 January 2017 Empowerment of Nigerians
of Nigeria (CBN) are not part
is at the heart of the social
Mozambique will return of parallel market operators,
investment programmes of
to a period of increased the Association of Bureaux De
the Federal Government, Vice
economic growth between Change Operators of Nigeria
President Yemi Osinbajo has
2018 and 2021, during which (ABCON) declared recently.
said.
the economy is expected to
grow at an average rate of The ABCON chief said the
He spoke recently in Davos
5.1%, according to the latest licenced BDCs, not only have
where he led the Nigerian
forecasts from the Economist their operational offices, they
delegation to the yearly
Intelligence Unit (EIU). file reports with the Federal
World Economic Forum. He
Inland Revenue Services (FIRS)
also participated in several
Read more and belong to ABCON, which
events, including a packed
is recognised by the apex
international business
bank as the umbrella body for
Mozambique default interaction group of investors
licensed BDCs.
on eurobond was focused exclusively on Nigeria.
Read more
unnecessary Read more
Ref: 23 January 2017
2017 Budget: Senate
Mozambique’s default on a
coupon payment for its dollar-
increases oil price to Rwanda
denominated bond last week $44.5/Per barrel Bond market records
was “unnecessary” and a step Ref: 19 January 2017
backwards for the country’s
Rwf46.4 Million
The Nigerian Senate recently turnover
relationship with the holders of
adopted the exchange rate
the debt, a group of creditors Ref: 17 January 2017
of N305 for a US dollar, as
said in a statement recently.
proposed by the executive The Rwanda Stock Exchange
arm of government, for the (RSE) opened the week
Read more 2017 fiscal year. with Rwf44.7 million worth of
bonds changing hands on
This is even as the Senate the bond market, recording
was worried about the gap over Rwf33.3 million in value.
between the parallel market The FXD 3/2016/5-year bond
and the official exchange was at 104.1 pushing Rwf14
rate, urging the Central Bank million worth of bonds,
of Nigeria (CBN) to initiate realising Rwf14.57 million. The
measures to close the gap FXD2/2015/10-year bond
traded 30.7 million worth of
Read more
bonds at 104.3 down from
Bank of Mozambique 104.5 previously and raking in
guides monetary We simply can’t allow Rwf31.85 million.
policy to economic the Naira to float, says The TB is redeemable on
growth of 5.5% in 2017 Osinbajo 25/05/2025.
Ref: 26 January 2017
Ref: 19 January 2017
The Bank of Mozambique On the equity market, Bank
will guide monetary policy Speaking at the World of Kigali recorded a total
throughout 2017 in a direction Economic Forum (WEF) in turnover of Rwf501,600 from
that will safeguard the Davos, Switzerland recently, 2,200 shares traded in one
objectives of macroeconomic Osinbajo said the government deal at Rwf228, unchanged
and financial stability and is in talks with the CBN to fully from Friday’s closing share
ensure economic growth of implement the “free-float” price.
5.5% and an inflation rate not foreign exchange policy, but
it cannot put a time on the Read more
exceeding 14%, the central
bank’s governor said recently “logical conclusion” of the
in Matola. talks.
Read more
Read more12 H+K Africa Digest | January 2017
Rwanda gets Rwf 32.2 “Geochemical and geological 2017 key economic
surveys will be conducted
billion in agriculture to confirm if oil is in the lake.
trends to watch in
Ref: 16 January 2017 Procurement process has Africa
begun and we expect works
Ref: 28 January 2017
In the last 12 months, the to begin early March and end
Government of Rwanda in June,” he said. In 2016, real GDP growth
delivered some impressive in sub-Saharan Africa is
results in agriculture. Over Rwanda passed a law estimated to have been the
40,000 hectares (ha) of land on petroleum exploration weakest since the 2008-09
have been protected against last year. Under the law a global financial crisis.
soil erosion, over 8,000 ha put petroleum exploration and
under irrigation, and average production license is valid for This was largely because of
crop yield for cassava, milk three years while an investor the weak performance in its
and coffee increased. is given a license valid for 25 two largest economies, South
years. Africa and Nigeria, which
The use of new agricultural together make up about half
innovation technologies was Read more of sub-Saharan Africa’s GDP.
enhanced and lending to
the agricultural sector and Read more
the design of an Agricultural
Management Information
South Africa
System (MIS) increased. These
results will help improve the Zuma’s projected Tanzania
lives of farmers in Rwanda, 2.9% growth rate Dar, Ankara eye
increase farm productivity
and household food security
‘nonsense’, say 2trillion trade volume
as well as support economic economists
Ref: 24 January 2017
growth.
Ref: 10 January 2017
DFID and the World Bank have The 2.9% economic growth
rate for 2017 predicted by
Increase trade
contributed to these results
through a Rwf.32.2 billion President Jacob Zuma at volume to
$1Bn
credit to the Government the ANC’s 105th birthday
of Rwanda’s Agriculture celebrations last weekend
Programme for Results. This has been rubbished by
is the latest payment as part economists.
of the joint World Bank, DFID, Read more
Agriculture Programme for
Results (PforR).
in the next few years
Read more
Reserve Bank Tanzania and Turkey recently
keeps benchmark inked ten Memorandums
repurchase rate of Understanding (MoUs) to
Rwanda to resume substantially increase trade
petroleum search in unchanged at 7% volume among themselves to
Lake Kivu in March Ref: 24 January 2017 at least one billion US dollars
Ref: 22 January 2017
(over 2tri/-) in the next few
The Reserve Bank kept years.
Works to explore the borrowing costs unchanged
availability of petroleum in for a fifth straight meeting Dr Magufuli expressed
Lake Kivu will resume in March even as inflation forecasts optimism that given the link
after the first round was not worsened. between the Tanzania’s
successful, officials have businesspeople and their
announced. The monetary policy Turkish counterparts, the trade
committee (MPC) unanimously volume between the two
Dr Emmanuel Munyangabe, decided to leave the countries would probably
the Deputy Director General benchmark repurchase grow to one billion dollars
of Geology and Mining at the rate at 7%, governor Lesetja from the current 190 million US
Rwanda Natural Resources Kganyago said on Tuesday in dollars (about 400bn/-), in the
Authority, told Sunday Times Tshwane. next few years.
that the exploration activities Read more
will be carried out within four Read more
months.H+K Africa Digest | January 2017 | 13
Bill Gates supports The resolution was reached continue to decline and the
poultry industry recently during a meeting continued reduction in the
at State House in Entebbe Central Bank Rate (CBR),
Ref: 25 January 2017 between the President and according to BoU.
a team led by IFC’s regional
Tanzania’s poultry industry
director for East and Southern However, the Central Bank
is expected to benefit from
Africa Cheikh Oumar, warns that commercial bank
a 21.4-million-U.S.-dollar
according to a statement earnings are likely to drop
grant from the Bill & Melinda
posted on social media because of “reduction in
Gates Foundation aimed at
by senior presidential press returns from banks’ holdings of
enhancing poultry production,
secretary Don Wanyama. government securities coupled
Xinhua reports.
with the need for banks to set
Read more aside high provisions for bad
According to a statement
debts.”
issued recently by the World
Poultry Foundation (WPF), Read more
the grant is to benefit two
Uganda’s coffee
African countries: Tanzania exports increase in
and Nigeria. Working closely quality and quantity
with the government and
in-country private sector Ref: 04 January 2017
partners, the WPF said it Uganda’s coffee exports have
would lead a project that will increased both in volume and
catalyse a transformation of value in the first two months of
rural poultry production in the the calendar year.
two countries.
Latest statistics from Uganda
Read more
Coffee Development Authority
(UCDA) show that in October
and November, the country
TCRA alerts on cyber exported a total of 617,171
illegal money transfers (60) kilogramme bags of
coffee beans, up from 472,119
Ref: 24 January 2017 bags exported the same
period the previous year.
Tanzania Communication
“In this period, the country
Regulatory Authority (TCRA)
earned $74 million (Shs264
has cautioned users of mobile
billion), up from $47 million
banking services in the country
(Shs167 billion) earned the
to take precautions, as there
previous year,” UCDA report
has been a wave of fraud
showed.
in the system, as a result of
the increased number of
Mr Emmanuel Iyamulemye
customers in the service.
Niyibigira, the executive
Read more director of UCDA, said the
good volumes were facilitated
by increased production in
Uganda central and eastern main
season which is still ongoing.
Read more
Museveni promises
power cuts in his 2017 Banks to increase
priorities lending to private
Ref: 08 January 2017 sector, BoU predicts
President Museveni and a Ref: 05 January 2017
team from World Bank’s
International Finance Bank of Uganda (BoU) has
Corporation (IFC), have projected that commercial
agreed to further discussions banks will start lending to
on the prospects of lowering the private sector at a much
the cost of power generated faster rate than the case has
at Bujagali dam from the been. This comes as a result of
current $0.113 (Shs411) per unit interest rates on government
to at least $0.05 (Shs182). securitiesYou can also read
