Business and Economy News This Week | Africa

  • Safaricom and commercial banks are seeking a deal with the Central Bank of Kenya to avoid a unilateral regulatory extension of free M-Pesa and mobile banking transactions amid the spike in Covid-19 cases in the country.
  • Rwanda’s central bank has maintained its key repo rate at 4.5 percent aimed at encouraging continued lending to the private sector to support economic recovery following the Covid-19 pandemic which has caused an economic slowdown.
  • Fish exports earned Uganda about USD 10.39 million in September, according to Bank of Uganda.  The earnings were fetched from 1,375 tonnes of fish and related products, representing an increase of 14 percent from 1,384 tonnes that fetched USD 8.87 million in August.
  • The banking sector is advising investors and other private sector borrowers to re-think their investments and investment plans because the attractiveness of investments to credit has been highly affected by the COVID-19 pandemic.
  • Global company Emmerson plans to launch the construction of a potash plant worth USD 400 million in Khemisset, Morocco by the end of 2021. The plant is set to be operational by the end of 2023, according to CEO Graham Clarke.
  • Ethiopian Airlines has received two of the 10 new Airbus A350-900 it ordered in 2017, bringing the total number of its Airbus fleet to 16.