Africa Economy News Highlights This Week

  • Ethiopia has received a USD 14.85 million grant from the Global Partnership for Education to boost its response to disruptions in education caused by the COVID-19 (coronavirus) pandemic.
  • RwandaAir has moved in to fill the vacuum left by four of Kenya’s airlines barred from flying to Tanzania. The Kigali-based carrier has announced it will operate three flights to Dar es Salaam, coming as a relief to passengers who had to contend with longer distances to get to Tanzania.
  • Three major international airlines (KLM, Qatar and Ethiopian airlines) are set to increase the number of flight frequency to Tanzania three months after the country opened its airspace to passenger flights.
  • Logistics firm Sendy has partnered with Insurance For All agency to provide its drivers and their families health insurance covers for as little as KES 81 daily.
  • The Treasury has opened the sale of a three-tenor Treasury bond issue for September seeking KES 50 billion (approx. USD 461.7 million) for budgetary support. The Central Bank of Kenya said that the government is reopening a 15-year paper first sold in 2010, a 20-year paper first sold in 2011 and a 15-year bond whose initial sale was in February this year.
  • Traders in the region face higher transport costs as the Ugandan government starts charging truck drivers for Covid-19 tests. Effective September 1, truck drivers have to part with USD 65 (UGX 7,039) to get tested for coronavirus, a move that will push up the already high cost of transport and doing business in the region.
  • The government has set aside KES 12 billion (approx. USD 110.8 million) to boost the Blue Economy industry in the country. From the total amount, Agriculture and Fisheries Secretary, Peter Munya said at least KES 5 billion (approx. USD 46 million) will be spent on upgrading fisheries facilities and reclaim landing sites.
  • Budget carrier Jambojet will start flying between cities in Kenya without stopping at its hub in Nairobi on October 2 following approval by the Kenya Civil Aviation Authority.