Business and Economy News across Africa This Week

  • Due to curfew, lockdown and other restrictions on movement that the coronavirus pandemic has brought to Uganda, USE has opened a portal at scd.use.or.ug to ease buying and selling of company shares and bonds. https://bit.ly/2CP04Qp
  • The City of Johannesburg says its new tariff increases have taken effect this week – reduced from the originally proposed percentages to cushion residents from the impact of the Covid-19 pandemic and subsequent national lockdown. https://bit.ly/2WxQt7i
  • Ethiopia Ministry of Trade and Industry and Ministry of Mines and Petroleum launched an integrated plan to steadily substitute the extensive importation of industrial inputs by home-produced ones. https://bit.ly/32zqcJG
  • Revenue generated from transportation of cargo on the standard gauge railway dropped 3.3 percent, or KES 154 million (approx USD 1.4 million), in the first five months of the year, official statistics show, amid continued pressure by the State on importers to use the line to move goods from Mombasa. https://bit.ly/32A2YTF
  • National carrier, RwandAir will resume flights on August 1, after almost five months since the airline suspended operations due to the Covid-19 pandemic, which has taken a heavy toll on industry. https://bit.ly/3fLZVM3
  • Prime Cement, a new cement factory under construction in Musanze – Northern Province is set to put a new cement brand made in Rwanda on the market next month. The factory is expected to use volcanic rocks among its key raw materials to alleviate the gap in cement demand, which gap the existing Cimerwa, Rwanda’s sole cement factory failed to bridge. https://bit.ly/32ymoZh
  • A joint venture mining firm, Twiga Minerals Corporation Limited, has made the government, have legal secured interests and open a new era of productive partnership in the mining industry following the remarkable successful negotiations and subsequent signing of a landmark agreement between the government of the United Republic of Tanzania and the Barrick Gold Corporation, the second-largest gold mining company in the world. https://bit.ly/2OG37Ne
  • The Egyptian pound demonstrated the best performance among the currencies of emerging markets over the past three years. The country’s local currency was the least affected by the ongoing COVID-19 pandemic. https://bit.ly/3hcGcFC