The Week That Was is a recap of major activities that happened in Africa in the last 7 days. You can view the video here

Central Africa

  • Angola announced that the government plans to join the Extractive Industries Transparency Initiative (EITI) in an effort to fight corruption in oil, gas, and mineral extraction revenues.
  • The Angola government also stated that more than 170 projects are waiting on funding approval from commercial banks.
  • The Ebola outbreak in the Democratic Republic of the Congo in the Equateur Province has seen an increase in the number of confirmed cases and continued to spread geographically.

Eastern Africa

  • The US military has awarded KBR a $75M contract to improve and maintain naval bases in Djibouti over the next five years.
  • In Kenya, parastatals and county governments make up Kenya Power’s largest group of debtors owing millions in arrears.
  • The Kenya government is in talks with the World Bank to secure a loan to support the country’s budgetary spending.
  • Kenya received a $30 million grant from Japan in support of energy projects and universal healthcare programs.
  • Private sector companies in Kenya saw a sharp decline in growth during August which led to subsequent layoffs to preserve cash.  The purchase managers index declined during August but remained above the 50 mark.
  • Mauritius will open its borders to international travel in three phases.
    • Phase 1 will run until the end of September during which only Mauritians stuck abroad will be allowed to be repatriated. 
    • From October 1st travel from selected destinations will be allowed. 
    • Phase 3 will see the opening of borders although a timeline has not been announced.
  • Rwanda’s BK Group has recorded a $17 million profit for the first six months of 2020.  The bank experienced tight trading conditions but the insurance business saw a 12 percent growth year-on-year.
  • Using a grant from the Nordic Development Fund, Swimsol developed a marine-grade floating solar system.  In partnership with Energy Solutions Seychelles, Swimsol will develop this demonstration project in Seychelles.
  • Qatar Airways has announced that 3 weekly flights to Mogadishu will resume on September 6th.
  • Airtel Tanzania declared a $14 million dividend to the Tanzania government.
  • Uganda announced the opening of borders and airports.
  • Dallaglio Investments has announced that it plans to build more than 300 houses near the Picstone Peerless Gold Mine in the Mashonaland West Province.
  • The Zimbabwe Ministry of mines and mining development has repossessed 32 Idle mining concessions during phase 1 of a new mining policy of “use it or lose it”.  The government has also reclaimed 21,000 hectares of mining land after owners failed to pay the required inspection fees.

Northern Africa

  • The Algerian government has announced that measures will be further reduced with the ban lifted on some cultural activities.
  • Egypt’s Central Bank said the countries foreign debt has fallen to $111.3 billion at the end of March 2020.
  • After record rains, Sudan’s Irrigation Ministry said the Nile river is at a record high and continues to rise.
  • Tunisia’s lawmakers have approved the new government.

Southern Africa

  • Botswana’s Minister of Mineral Resources, Green Technology and Energy Security said it plans to become energy independent by 2026.  It aims to add an additional 600 MW of coal-fired and solar power plants over the next six years.
  • International airlines are set to resume flights to Namibia from September 15th.
  • Impala Platinum in South Africa saw annual earnings increase by almost 400% as a result of higher commodity prices and a weaker currency.

Western Africa

  • International air travel resumed in Ghana from September 1st.
  • Guinea’s president announced that he will accept his nomination and run for a third consecutive term.
  • Once the new Dangote refinery is commissioned, Nigeria will aim to become a net exporter of petrol by 2022.
  • Nigeria’s oil fields have flared more than 225 billion standard cubic feet of gas in the first 6 months of 2020.
  • NNPC in Nigeria invited companies to submit bids by October 15th for 2021 crude and condensate contracts.
  • Nigeria’s Federal Executive Council approved $3.1 Billion to automate the country’s customs service.

Interested in knowing more, get in touch

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