AFRICA ECONOMY NEWS & UPDATES

  • Ethiopian Airlines said it has not suspended flights to China following an outbreak of the coronavirus.  Ethiopian Group CEO, Tewolde Gebremariam told FBC that they are operating their regular flights to all of their five gateways in China, Beijing, Shanghai, Guangzhou, Chengdu and Hong Kong with the usual supply and demand adjustment that they always make during the Chinese New Year Holidays. http://bit.ly/36TB0B4
  • Economic growth in Rwanda could accelerate to more than 10 percent this year if construction of a planned USD 1.3 billion airport starts, according to the World Bank, which increased its estimate for 2019 expansion for a second time. https://bloom.bg/2ScvmV9
  • Moroccan airline Royal Air Maroc will suspend direct flights to China on Friday until 29 February 2020 amid the coronavirus outbreak, state news agency MAP reported. https://reut.rs/31hxEqn
  • The IMF wants the Government to get a handle on its spending, and overhaul embattled parastatals to reduce its debt. Such fiscal consolidation must be coupled with decisive structural reform to boost investment and growth. http://bit.ly/37TugEA
  • Kenya’s private sector is proposing to sell flowers directly to Qatar as part of efforts to boost trade relations with the Middle East country. The push for the flower exports to the Middle East was one of the proposals that officials put on the table during the Kenya-Qatar trade and investment forum, which opened in Nairobi Thursday. http://bit.ly/31rBOvW
  • Nairobi’s Karen, Runda and Lavington suburbs registered the highest number of properties placed in the market in 2019, affected by loss of exclusivity, changes in zoning laws and expatriates shifting preference for serviced apartments. Realtor HassConsult said in their 2019 housing and land price survey that Karen accounted for 31.2 percent of the supply of land advertised for sale in Nairobi suburbs. http://bit.ly/37SPKRZ
  • The Communications Authority of Kenya has dropped Equitel from the list of mobile money services it regulates, declaring it a banking product. http://bit.ly/2Saq4cZ
  • The Ethiopian Embassy in Qatar will be holding the ‘Ethiopian Business Forum’ (EBF 2020) on 3 February 2020 at the Millennium Hotel in Doha. Ambassador of Ethiopia to Qatar, Samia Zekaria told the Gulf Times that the forum will be organised in collaboration with Qatari company, KON. The forum is expected to gather leading businesses and Qatari investors during the one-day event and will be a bilateral business, investment, and trade forum between Qatar and Ethiopia. http://bit.ly/2GKE1sP
  • Liquidity in the money market has improved since December last year following Government payments and debt maturities, indicating easier flow of cash for investors. One of the liquidity measures, the average inter-bank rate, was recorded at 3.86 percent in the week ending 23 January 2020. http://bit.ly/2UfsPMK