Here is a recap of the major activities that happened in Africa in the last 7 days. You can see the video here

Central Africa

  • The Angolan government and the International Fund for Agricultural Development (IFAD) signed a 26.2 million Euros financing agreement to implement a project to improve the resilience of small producers’ projects.
  • It was announced that Angola’s Sovereign Fund recorded profits for 2019 to the amount of $234 million.

Eastern Africa

  • Zimbabwe terminated the top executives of the country’s five biggest state hospitals. The health services board said this was part of a wider restructuring plan to improve healthcare services in the country.
  • After talks with Egypt and Sudan stalled, it seems Ethiopia has started to fill the Renaissance dam.  This is a contentious issue for the region for which a solution must be found.
  • Last week saw fuel prices increase with double digits.
  • After a 3-month grounding, Kenyan Airways resumed local flights.  The Transport secretary expects the resumption of local flights will revive the tourism sector.
  • More Cuban Doctors Sent to Kenya to support the fight against COVID-19.
  • The Ugandan government set aside $4.4 million for a Water Project to connect Dokolo town to safe and clean piped water.

Northern Africa

  • Algeria is speeding up financial reform with the aim to save the government $20bn by the end of 2020.
  • Algeria’s state-owned airline, Air Algerie will accumulate a loss of $272 million in revenue during the current financial year.
  • On Monday, the port city of Tangiers in Morocco announced a return to lockdown measures to isolate a new outbreak of COVID-19.
  • The Moroccan government plans a package for the state carrier Royal Air Maroc to the value of $624 million in aid.
  • Tunisia raised the 2020 estimated budget deficit to 7% of GDP.
  • On July 15th, Tunisia’s Prime Minister resigned due to strained relations with the biggest party in parliament.
  • Carlyle Group and a consortium backed by Cairn Energy are among bidders for Shell’s onshore oil and gas assets in Egypt.

Southern Africa

  • Air Botswana will resume flights.
  • The European Union donated 2.4 million euros as the Eswatini government stumbled to feed hundreds of thousands of people in desperate need of food.

Western Africa

  • OPEC+ received confirmation from Nigeria’s oil minister that his country will meet its compliance with OPEC+ oil cuts.
  • The Nigerian government announced that all airports in Nigeria will reopen within a week.
  • More than six hundred people in The Gambia’s hotel industry is at risk of losing their jobs as a result of COVID-19.
  • Vodafone in Ghana is investing in an extensive rollout of fiber optic cable infrastructure.
  • The IFC agreed to a loan of $12 million for a steel plant in Ghana.  This plant will help to create jobs and skills development in the country.
  • Australia’s FAR Limited is selling its 15 percent stake in Senegals $4.2 billion Sangomar oil and gas project. On Thursday, July 16th it reported that it has received a good level of interest in the sale.
  • Turkey’s Karpowership signed a 5-year power deal with Sierra Leone to provide electricity to the state’s power utility.  Karpowership, part of the Karadeniz Energy Group already supplies 80% of the country’s power supply. It is providing ships configured to use diesel and LNG to generate electricity whilst anchored offshore.
  • The IFC, as part of the World Bank Group, has invested 25 million euros in NSIA to help finance businesses in Ivory Coast during the pandemic.

Interested in knowing more, get in touch

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