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African Union needs a permanent seat at G-20, ministers say

20 Jul 2022 /  lonso Soto and Katarina Hoije, Bloomberg
Representation at the G-20 will bolster the continent’s engagement with the group at a time when soaring energy and grain prices threaten to tip poor nations over the brink.

Zimbabwe reduces gasoline prices for first time in six months

19 Jul 2022 /  Ray Ndlovu, Bloomberg
Reducing the pump price by 0.3% to Z$675.35 per liter with immediate effect.

‘Aggressive’ inflation spurs Nigeria to hike rate to 3-year high

19 Jul 2022 /  Ruth Olurounbi, Bloomberg
The monetary policy committee voted to hike the rate by 100 basis points to 14%, Governor Godwin Emefiele said in a televised briefing in the capital, Abuja, on Tuesday.

IMF approves Kenya $236m loan, urges reform agenda kept

19 Jul 2022 /  David Herbling, Bloomberg
The approval brings the IMF’s total disbursements to Kenya to $1.21 billion, out of a total of about $2.34 billion available under a 38-month program approved in April 2021.
2

Gold and the godfather syndrome

18 Jul 2022 /  Cathy Buckle
Zim's gold story is one of self enrichment, smugglers and powerful cartels at the top and desperate people sifting through the mud at the bottom.

Africa’s largest renewable energy IPP to be sold to Egyptian company

18 Jul 2022 /  Akhona Matshoba
Deal is awaiting regulatory approvals.

Indonesia as G-20 host pushes for African Union representation

18 Jul 2022 /  Yudith Ho, Bloomberg
SA is the only member from the continent.

Morocco – a top fertiliser producer – could hold a key to the world’s food supply

17 Jul 2022 /  Michaël Tanchum
In the midst of the Ukraine war.

Southern African bloc extends troop deployment in Mozambique

15 Jul 2022 /  Matthew Hill, Bloomberg
The extension is provisional, pending a heads-of-state meeting of the group scheduled for August 17 to August 18, the bloc said.

Zimbabwe power utility gets go-ahead to bill exporters in forex

12 Jul 2022 /  Godfrey Marawanyika and Renee Bonorchis, Bloomberg
An exporter is defined as a business that, on average every quarter, exports 80% or more of its total output in goods and services produced or provided by it in Zimbabwe, for which it receives any foreign currency.

Uganda’s illegal river sand miners boost rising flood risk

10 Jul 2022 /  Hedwig Arinaitwe, Thomson Reuters Foundation
Efforts to crack down on the mining are difficult.

Protests build across Africa over surging fuel prices, shortages

8 Jul 2022 /  Matthew Hill, Bloomberg
The effect of fuel shortages throughout Africa in the wake of Russia’s invasion of Ukraine is especially pronounced for populations whose transportation costs account for a disproportionately high percentage of monthly budgets.

Africa needs $424bn to recover from pandemic devastation

7 Jul 2022 /  Caroline Hepker and Tom Mackenzie, Bloomberg
'We should not minimise the impact of Covid-19 on African economies,' Akinwumi Adesina, president of the African Development Bank, said.
UPDATE

Zimbabwe’s currency at risk of being rejected, local business group says

7 Jul 2022 /  Ray Ndlovu, Bloomberg
Annual inflation soared in June to 192% -- a 13-month high.

Drivers wait eight hours to refill in Ethiopia amid fuel crisis

6 Jul 2022 /  Fasika Tadesse, Bloomberg
The situation could deteriorate later this month as the government plans to stop subsidising gasoline and diesel.

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