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H+K Africa Digest | May 2017 | 1
H+K
May 2017
Africa Digest
Summary of Key Political & Economic
Developments
Angola Ethiopia Ghana Kenya
Mozambique Nigeria Rwanda
South Africa Ta n z a n i a Uganda
Image source courtesy of Kenya Ports Authority
2 H+K Africa Digest | May 2017
+ Political News Roundup
Angola Nigeria Lake Malawi dispute
intensifies, going to
4 Angola opposition Nigerian Embassy The Hague
calls for clarity on protests U.S. Secret
president’s health Service violation of its Uganda, Tanzania sign
premises 1,400km oil pipeline
After 37 years,Angola agreement
will get a new president. Five organisations
CanJoao Lourenco Petroleum Industry
reduce widespread Bill will create after Uganda
corruption? unbundling NNPC Uganda halts hunt for
LRA warlord Kony
FG sets up National
Ethiopia Minimum Wage Dr Stella Nyanzi bail
Ethiopia’s Tedros Committee as FEC extended to June 7
elected new WHO reviews 2017 budget
chief Museveni, NRM
respect Constitution -
Ebola: FG, Lagos to Winnie Byanyima
Eritrea denies
sanction Kenya
targeting Ethiopia
Airways
dam as Egyptian ties
deepen
Rwanda
5 Ethiopia replies
EU MPs: Quit
7 No poll campaign
posts without Rwandan
criticisms and give electoral body’s nod
‘constructive support’
Unbowed by
Ghana mudslinging, Diane
Times are tough; vows to soldier on in
Ghana is broke – race for presidency
Nana Addo Kagame speaks out
MiDA shortlists six on upcoming
companies for ECG election, Rwanda’s
concession vision
Extend maternity
leave by 2 weeks
South Africa
Zuma survives another
Kenya dramatic challenge
U.S. suspends aid to his leadership
to Kenyan health
ministry over corruption ANC NEC grapples
concerns with Zuma exit
proposal
Imported maize ‘was
surplus of old stock in #GuptaEmails:
South Africa’ Maimane calls for
‘stern legal action’
6 Kenyans from diaspora
troop back home for 8 Zuma denies Dubai
political seats reports, Malema says
he warned SA in April
2016
Mozambique
Tanzania
Peace in DRC
now – ex-liberation Tanzania leads regional
movements peers in foreign direct
investment
China spins a global
food web from
Mozambique to Missouri
H+K Africa Digest | May 2017 | 3
+ Economic News Roundup
Angola
9 Economic team World Bank stresses Uganda
approves first quarter investment in natural
financial rogramme resources Museveni, Magufuli
sign Hoima-Tanga oil
Angola continues 11 Edm claims 78 per pipeline deal
diversification into cent increase in
power sales MPs approve five
minerals to curb oil
year Bujagali tax
deficits, but progress
Nigeria waiver
slow
Nigeria almost out of National Budget hits
worst recession in 29 Shs29 trillion
Ethiopia years
Ethiopia tipped to be
top recipient of Nigeria earns N225bn
private equity from oil taxes,
royalties in two
Ethiopia reports huge months
revenue in power GE to establish gas
supply over last 10 turbine plant in
months Nigeria next year
Ethiopian Airlines All you need to
opens new air route know about the NIA
to south west China $289million covert
projects controversy
Ghana
TEN oil field to start Rwanda
producing gas in
IMF expert speaks out
commercial
on Rwanda’s outlook
quantities from July
for 2017
Cleared for take-off:
10 Ghana’s public debt
RwandAir begins
hits GH¢127.1 billion
London flights
Ghanaian
Rwanda seeks to raise
communities to
export revenue, local
benefit from $5.5 mln
production
World Bank grant
We are moving from South Africa
taxation to
Frank talk as state of
production – Nana
SA is assessed
Addo
12 SA’s economy: into a
Kenya stormy future
Kenya law okays ‘We smell a rat’ says
livestock, household Numsa on GM’s SA
appliances for bank exit
loans
Treasury gives Sh325m Tanzania
in war on armyworms Dar eyes BRICS loans
for SGR
Kenya sets sights on
medical tourists
EU gives Tanzania
U.S.$200 million to
Mozambique develop energy sector
Investigators conclude
probe of Mozambique Agriculture sector
secret loan scandal heaves relief
4 H+K Africa Digest | May 2017
Political
News
Roundup
Angola After 37 years,
Angola will get a
Eritrea denies targeting
Ethiopia dam as
Angola opposition new president. Can Egyptian ties deepen
calls for clarity on Joao Lourenco Ref: 22 May 2017
president’s health reduce widespread Eritrean President Isaias
corruption? Afwerki denied his country’s
Ref: 17 May 2017 deepening relations with
Angola’s opposition recently Ref: 21 May 2017 Egypt signify plans to disrupt
called for official clarification neighboring Ethiopia’s
After nearly four decades in
on the health of veteran construction of Africa’s biggest
power, Angolan President
President Jose Eduardo dos hydropower dam.
José Eduardo dos Santos, the
Santos, 74, who has been out second-longest serving leader
of the country for nearly three Egypt’s government
in Africa, has announced that
weeks. has claimed Ethiopia’s
he will leave office this year.
construction of the
Dos Santos’s influential hydropower dam on the
He has talked of stepping
daughter Isabel moved to main tributary of the Nile
down in the past, but this time
deny rumours the president River contravenes colonial-
the ailing dos Santos, who has
had died in Spain, where era treaties that grant it the
received medical treatment in
he was confirmed to have right to the bulk of the river’s
Spain, is following through.
travelled by state media on water. Ethiopian officials reject
May 2. Read more the accords as obsolete and
unjust.
Read more
Ethiopia The plant, being built at a cost
of $6.4 billion, is scheduled for
Ethiopia’s Tedros
Dos
completion next year and will
produce as much as 6,450
elected new WHO
Santos’s
megawatts of power.
chief Read more
influential Ref: 24 May 2017
Ethiopia’s Tedros Adhanom
daughter was elected as the new
head of the World Health
Isabel Organization recently, the
first African at the helm of
moved an agency widely seen as
needing major reforms.
to deny The former Ethiopian health
rumours the minister, who has pledged
to shake up the UN’s public
president health body, beat out Britain’s
David Nabarro and Sania
had died in Nishtar of Pakistan after three
rounds of voting.
Spain Read more
H+K Africa Digest | May 2017 | 5
Ethiopia replies EU MPs: MiDA shortlists six com-
Quit criticisms and give panies for ECG con-
‘constructive support’ cession
Ref: 20 May 2017 Ref: 24 May 2017
The Ethiopian government Six companies have been
has formally responded to a shortlisted from a pool of
resolution passed by Members applicants for the concession
of the European Parliament of electricity distribution under
(MEPs) condemning the the Electricity Company of
country’s human rights Ghana.
situation and what it called
‘political persecution.’ The The six companies, Tata Power Support for HIV drugs and
response was carried in a Company Limited from India; other health programs outside
communique issued by the Manila Electric Company the ministry would continue,
Embassy of Ethiopia in Brussels, from the Philippines; Ch Group the embassy said, adding that
Belgium, which is incidentally Ghana with EDF and Veola Sa the United States invests more
the seat of the European with Ghanaian address - Engie than $650 million on health in
Union. Services; SA from France, BXC Kenya annually.
Company Ghana Limited,
The response titled ‘‘The registered and operating in Read more
EP Resolution on Ethiopia Ghana; and Enel S. P. A. of
lacks understanding on Italy.
important issues,’‘tackled Imported maize ‘was
five major areas chiefly Read more
surplus of old stock in
amongst them, the arrest of
leading opposition figure, Dr. South Africa’
Merera Gudina, the state of Extend maternity leave Ref: 15 May 2017
emergency and Ethiopia’s by 2 weeks Fresh intrigues have hit the
internal probe into protest importation of 330,000 bags
deaths. Ref: 24 April 2017
of maize into the country,
Read more The Ghana Employers’ after it emerged that the
Association has proposed consignment was a surplus of
an extension of the country’s an old stock purchased by
Ghana maternity leave from the
current 12 weeks to 14 weeks.
South Africa last year when
it was experiencing food
shortages.
Times are tough; The call follows moves from
Ghana is broke – Nana various stake holders to have Details also emerged showing
Addo the leave period extended that three milling firms — Kitui
to enable women undertake Flour Mills and Pembe Flour
Ref: 16 May 2017
exclusive breastfeeding as well Mills (with 10,000 tonnes each)
President Nana Addo Dankwa as recover before resuming and Hydrey (P) Limited (9,900)
Akufo-Addo partly blamed work. — were the importers of the
the erstwhile Mahama-led consignment.
Read more
administration for the current Read more
economic outlook of the
country.
Kenya
He made this frank statement
when he met with the U.S. suspends aid
leadership of the University to Kenyan health
Teachers Association of
Ghana (UTAG) following strike
ministry over corruption
and protest threats by various concerns
labour unions in the country. Ref: 09 May 2017
Read more The U.S. government has
suspended $21 million in
direct aid to Kenya’s Ministry
of Health amid concern over
corruption, the embassy said,
giving emphasis to an issue
that is a growing liability for the
government before August
elections.
6 H+K Africa Digest | May 2017
Kenyans from diaspora FG sets up National
troop back home for Minimum Wage
political seats Committee as FEC
Ref: 20 May 2017 reviews 2017 budget
They went abroad in search of Ref: 25 May 2017
greener pastures but are now The Federal Executive
trooping back home in search Council, FEC, has approved
of elective political seats. the constitution of a National
Minimum Wage Committee
Armed with millions of shillings to kick start the process of
and attractive academic deliberations for a new wage for
certificates, Kenyans living in China spins a global food Nigerian workers.
diaspora claim they are back
to help reform the leadership
web from Mozambique Read more
in their counties. to Missouri
Read more Ref: 22 May 2017 Ebola: FG, Lagos to
As China’s government sets up sanction Kenya Airways
farms in developing countries,
Ref: 26 May 2017
Mozambique the nation’s food companies are
scouring the world for premium The federal and Lagos State
products. governments recently said Kenya
Peace in DRC Airways would be punished
now – ex-liberation Inside a gated compound for conveying a corpse from
movements patrolled by armed guards, an Ebola-infested country,
hulking towers and concrete Democratic Republic of Congo
Ref: 29 May 2017 buildings loom over fields where (DRC), to Nigeria without
Former Southern African Silva Muthemba once grew maize clearance.
liberation movements have and fattened his cattle.
called for lasting peace in Consequently, the governments
Read more condemned the action of the
the Democratic Republic of
Congo, amid an outbreak of airline, noting that the ban on
the deadly Ebola virus which
has hit a remote region of the Nigeria repatriation of human remains into
the country was still in force.
country.
Read more
Nigerian Embassy protests
The secretaries-general of the U.S. Secret Service
African National Congress
(ANC) of South Africa, violation of its premises
Chama Cha Mapinduzi Ref: 26 May 2017
of Tanzania, Front for the
The Nigerian Embassy in
Liberation of Mozambique
Washington has protested to
(Frelimo), Popular Movement
the U.S. Government over the
for the Liberation of Angola
violation of its premises by the
(MPLA), Swapo of Namibia
Secret Service agents following
and the Zimbabwe African
fracas between two local workers.
National Union-Patriotic
Front (Zanu-PF) called on Read more
DRC President Joseph Kabila
to take advantage of the Five organisations
international conference for
the Great Lakes Region to be Petroleum Industry Bill will
chaired by Angolan President create after unbundling
José Eduardo dos Santos to NNPC
solve the political conflict in
that country. Ref: 26 May 2017
With the passage by the Senate,
Read more
recently, of the Petroleum Industry
Governance Bill, Nigeria now
comes close to having five new
commercial and governance
organizations to replace existing
ones, such as the Nigerian
National Petroleum Corporation
and the Department of Petroleum
Resources.
Read more
H+K Africa Digest | May 2017 | 7
Rwanda The incident made me stronger,
more resilient and determined
ANC NEC grapples
with Zuma exit
to continue with this cause.”
proposal
Read more
Ref: 29 May 2017
Kagame speaks out The ANC’s national executive
on upcoming election, committee (NEC) grappled
with calls for President Jacob
Rwanda’s vision Zuma to step down and
Ref: 19 May 2017 continued discussing proposals
On the evening of Friday late into the night.
August 4, when the results
of presidential election The closed meeting began on
will be released in Kigali, Saturday, with critical decisions
commentators are unlikely to taken, including allowing
be surprised. Unless there is an party structures to discuss the
unexpected occurrence, their names of candidates to lead
only job will be to compare the ANC after its December
the percentage with which conference.
Paul Kagame will have been
Read more
re-elected, with previous
elections.
No poll campaign
posts without Rwandan Read more #GuptaEmails:
electoral body’s nod Maimane calls for
‘stern legal action’
Ref: 26 May 2017
Candidates in Rwanda’s
South Africa Ref: 26 April 2017
August election have to The Democratic Alliance
seek approval from the is considering legal action
electoral commission for each against President Jacob Zuma,
campaign message they craft, the Gupta family, and others
before posting it on social implicated in “undermining
media platforms. the state”, DA leader Mmusi
Maimane said recently.
The National Electoral
Commission (NEC) said it “What has emerged today
had put in place a team of [Sunday] is the existence of
analysts to vet the requests. concrete proof confirming
Read more what South Africans have
known for some time: the
ANC has created, aided, and
Unbowed by sponsored a shadow criminal
mudslinging, Diane Zuma survives another state in South Africa led by the
Guptas and the Zumas,” he
vows to soldier on in dramatic challenge to said.
race for presidency his leadership Read more
Ref: 17 May 2017 Ref: 29 May 2017
Ever since Diane Shima Rwigara President Jacob Zuma has
came out to express her political survived another dramatic
views — and later declared her challenge to his leadership,
intention to run for president telling the ANC’s national
of Rwanda in the August 4 executive committee (NEC)
elections — the 35-year-old has that he would not step down.
attracted praise and criticism in
equal measure. Business Day understands
that after a tense two-day
One week after nude meeting, Zuma told the NEC
photographs — which she has in his closing address that he
disowned — were circulated would not resign and that only
on social media a day after she ANC branches could remove
announced her presidential him.
bid, Ms Rwigara says she will not
be deterred: “I will not stop. I Read more
am going to continue with my
preparations.
8 H+K Africa Digest | May 2017
Zuma denies Dubai Lake Malawi dispute Dr Stella Nyanzi bail
reports, Malema says intensifies, going to The extended to June 7
he warned SA in April Hague Ref: 25 May 2017
2016 Ref: 20 May, 2017 Makerere University researcher Dr.
Ref: 28 May 2017
The dispute between Malawi Stella Nyanzi has asked Buganda
and Tanzania over ownership Road Court Chief magistrate James
President Jacob Zuma of Lake Nyasa is turning into a Ereemye to halt proceedings in her
recently day flat out denied fully-fledged diplomatic row, criminal case until the Constitutional
a report that he had plans to with Lilongwe now threatening Court pronounces itself on a petition
make Dubai his second home. to go to The Hague. Malawi she filed challenging the Mental
accuses Dar of sabotaging Treatment Act.
The City Press revealed dialogue on the matter.
recently that it was in Read more
possession of emails between Tanzania, on May 4, asked
the controversial Gupta family for postponement of the
and its employees, and the
Museveni, NRM respect
mediation talks slated for
president’s intentions were laid May 8 and 9 to host South Constitution - Winnie
out in one of the exchanges. African President Jacob Byanyima
Zuma. Malawi’s Foreign
Read more Ref: 22 May 2017
Minister Francis Kasaila said his
country is preparing to take Mzee Boniface Byanyima, the former
Tanzania to The Hague-based national chairman of the Democratic
International Criminal Court Party, was laid to rest at his country
over the matter. home in Ruti, Mbarara municipality.
Read more
Shortly after, members of the Uganda
Police Force fired three volleys as the
Uganda, Tanzania sign remains of the veteran politician and
1,400km oil pipeline educationist were lowered into the
agreement grave, bringing to a close what was
more of a political rally than a funeral.
Ref: 24 May 2017
Read more
President Yoweri Museveni
and his Tanzanian
counterpart, President John
Pombe Magufuli signed an
East African Crude Oil Pipeline
Agreement (EACOP) as an
expression of intent to go
Tanzania ahead with the construction
of the 1,400km oil pipeline
Tanzania leads regional from Hoima district in Western
Uganda to the Tanzanian port
peers in foreign direct of Tanga.
investment Read more
Ref: 24 May 2017
A new United Nations (UN)
report has said Tanzania is Uganda
among the top ten recipients
of foreign direct investment Uganda halts hunt for
(FDI) in Africa for 2016, sending LRA warlord Kony
the much-needed boost to Ref: 20 May 2017
President John Magufuli’s Sweat soaks into the bright red
industrialisation agenda. neckerchiefs of the soldiers
The 16th edition of the African slouching to attention on a
Economic Outlook report ranks steamy parade ground deep
Tanzania the ninth in Africa in the inaccessible forests
thanks to the government’s of Central African Republic
new drive to attract (CAR).
investments in line with the
medium-term development The military display marked the
plan that is focused on end of a failed years-long hunt
nurturing industrialisation as a for Joseph Kony, leader of the
means of achieving economic notorious Lord’s Resistance
transformation. Army (LRA), a rebel group that
has its origins in 1980s Uganda.
Read more
Read more
H+K Africa Digest | May 2017 | 9
Economic
News
Roundup
Angola Ethiopia Ethiopian Airlines
opens new air route to
Economic team Ethiopia tipped to be south west China
approves first quarter top recipient of private Ref: 23 May 2017
financial rogramme equity A direct flight has opened
Ref: 17 May 2017 Ref: 22 May 2017 between Chengdu, capital
of southwest China’s Sichuan
The Balance Sheet for the Exe- A UN report has tipped Ethio- Province, and Addis Ababa,
cution of Financial Programme pia to be the biggest recipient the capital of Ethiopia. Op-
of the 2017 First Quarter was of private equity in eastern erated by Ethiopian Airlines,
approved by the 8th Ordinary Africa, beating Kenya thanks it will depart from Chengdu
Joint Meeting of the Economic to its friendly business environ- every Tuesday, Thursday and
Commission and the Commis- ment and favourable industrial Saturday with a travel time of
sion for the Real Economy of policy. 9.5 hours.
the Cabinet Council.
Ethiopia has promoted the de- Read more
Read more velopment of industrial parks
focusing on textiles, leather,
Angola continues agro-processing and pharma-
ceuticals, as part of its Vision
Ghana
diversification into 2025 that seeks to make the TEN oil field to start
minerals to curb oil country a light manufacturing producing gas in
deficits, but progress hub in Africa.
commercial quantities
slow Read more
from July
Ref: 26 May 2017
Ref: 18 May 2017
Angola’s continued reliance Ethiopia reports huge
on the oil sector will result in revenue in power The country’s second biggest
limited development of its oil field Tweneboa, Enyenra,
supply over last 10 Ntomme (TEN) is expected to
mining sector between now
and 2021. months produce first gas mid-2017. The
Ref: 19 May 2017 Jubilee fields is said to have
However, the country is produced about 50 billion
expected to continue Ethiopia says it has earned standard cubic feet of gas to
diversifying into minerals in over $165m in revenue for sale power Ghana’s thermal plants
the longer term, as a decline of electric power over the last for about seven years.
in domestic oil production 10 months. Out of the amount,
Read more
speeds up government plans $49m was from supply to
to invest in mining projects neighbouring Sudan and
as an alternative source of Djibouti.
funding.
The state-affiliated FANA
Read more broadcasting corporate (FBC)
quoted an official with the
Ministry of Water, Irrigation
and Electricity as saying
the amount fell short of the
country’s target of $200m.
Read more
10 H+K Africa Digest | May 2017
Ghana’s public debt This was reiterated by The International Health
President Nana Addo Conference held in Nairobi
hits GH¢127.1 billion Dankwa Akufo –Addo when heard that Kenya has diverse
Ref: 22 May 2017 he commissioned the newly and unique services and
According to the Bank constructed Kumasi City Mall. specialist surgeons but lack
of Ghana’s summary of of information leads to many
Read more
Economic and Financial paying high costs to Indian-
data Ghana’s total public based hospitals for services
debt stock has increased to available locally.
GH¢127. The debt stock was
1billion ($29.4billion) as at the
Kenya Read more
end of the first quarter of 2017. Kenya law okays
This represents 62.5% of
livestock, household Mozambique
projected GH¢203.4 billion appliances for bank Investigators conclude
Gross Domestic Products loans probe of Mozambique
(GDP) for 2017. Total public
debt is now up by GH¢4.5bn. Ref: 11 May 2017 secret loan scandal
This means that GH¢4.5 billion Low-income earners in Kenya Ref: 13 May 2017
was added to the total public can now take bank loans by
Maputo - Forensic investigators
debt stock in the first three using livestock, crops and
have concluded their audit
months of 2017 as the debt other household appliances as
into secret loans worth $2bn
stock was GH¢122.6billion at collateral.
the Mozambican government
the end of 2016.
secured that prompted an
Read more President Uhuru Kenyatta
IMF and World Bank aid
signed into law the Moveable
cut-off, the government
Property Security Rights
said. Investigators from New
Bill 2017. According to
York-based firm Kroll reported
the presidency, the law
their findings to Mozambican
“enhances the ability to
official on Friday 05th 2017.
access credit using movable
assets.” Read more
Read more
World Bank stresses
investment in natural
Treasury gives Sh325m resources
in war on armyworms Ref: 12 May 2017
Ref: 23 May2017 The World Bank has invested
around 200 million US dollars in
Ghanaian The Treasury has released
Mozambique over the last two
Sh325 million through the
communities to benefit supplementary budget to
years, in the areas of natural
resources, the environment and
from $5.5 mln World fight fall armyworms which are
rural development.
Bank grant ravaging maize fields, further
According to the World Bank’s
threatening food security.
Ref: 19 May 2017 Mozambique country director,
Mark Lundell, speaking on Thursday
The World Bank signed a grant The Agriculture ministry said
after the signing of a trilateral
agreement with Solidaridad the cash is against a request
agreement between the Bank,
West Africa for Natural for Sh360 million emergency
and the Mozambican and Brazilian
Resources Management in 53 funding to tackle the worm
governments, his institution will
selected local communities of following reports that it had
continue to bet on investments in
the Brong-Ahafo and Western invaded farms in more than 15
natural resources, since he believes
Regions of Ghana, recently. counties.
they are vital for job creation.
Read more Read more
Read more
We are moving from Kenya sets sights on
taxation to production medical tourists
Ref: 22 May 2017
– Nana Addo
Ref: 11 May 2017 Public and private medical
stakeholders are pushing for
President Nana Akufo-Addo setting up of a central online
said the private sector must information portal to market
take advantage of the shifting available specialized services
in focus and offer better and to locals and attract foreign
more opportunities for growth. medical tourists.H+K Africa Digest | May 2017 | 11
Edm claims 78 per GE to establish gas
cent increase in power turbine plant in Nigeria
sales next year
Ref: 9 May 2017 Ref: 19 May 2017
Mozambique’s publicly owned General Electric (GE) plans
electricity company, EDM, to commission a gas turbine
increased its sales of power by assembly plant in Nigeria next
about 78 per cent between year and has invested over
2015 and 2016. According $100 million as it seeks to tap
to an EDM press release growing demand for gas-
cited by Tuesday’s issue of fired power plants in Africa’s
the independent newssheet biggest economy Cleared for take-off:
“Mediafax”, between January
Read more
RwandAir begins London
and December 2016 the
company’s sales of electricity
flights
amounted to 29.122 billion All you need to Ref: 27 May 2017
meticais (about 460 million US know about the NIA On May 27th, at exactly
dollars, at current exchange 12:55pm local time,
rates), compared with 16.348 $289million covert RwandAir’s Airbus A330-
billion meticais in 2015. projects controversy 300 took off from Kigali
International Airport heading
Read more Ref: 24 April 2017 to Gatwick International
Perhaps the most difficult thing Airport, London’s second
Nigeria Nigerians are struggling to
come to terms with about the
busiest airport.
Read more
Nigeria almost out of recovered N13 billion is the
fact that the money actually
worst recession in 29 belonged to the National Rwanda seeks to raise
years Intelligence Agency —and for export revenue, local
covert operations.
Ref: 23 May 2017 production
The National Bureau of As PREMIUM TIMES reported Ref: 20 May 2017
Statistics (NBS), recently on April 14, two days after the The government plans to
released the Gross Domestic anti-graft EFCC announced boost exports and domestic
Prodcut (GDP) report for the the recovery of the cash haul, production in a bid to protect
first quarter of 2017, which the NIA Director-General, the economy from shocks
shows that Nigeria’s economy Ayodele Oke, had claimed fuelled by a firming dollar,
contracted by 0.52% year-on- ownership of the funds falling export revenues and a
year. on behalf of his agency, ballooning import bill.
although, he didn’t disclose
Last August, the NBS noted what it was meant for. Read more
that the country’s first
recession since the return of
democracy in 1999, was the
Read more
South Africa
worst in nearly three decades. Rwanda Frank talk as state of
Read more
IMF expert speaks out SA is assessed
Ref: 29 May 2017
on Rwanda’s outlook
Nigeria earns N225bn Business, labour and the ANC
for 2017
from oil taxes, royalties Ref: 22 May 2017
all made frank assessments
about the state of SA last
in two months week when they met with
The International Monetary
Ref: 23 May 2017 Fund has projected that representatives of S&P Global
Rwanda’s economic growth Ratings, Moody’s Investors
Nigeria earned N224.9 billion
will re-bound this year at 6.2 per Service and Fitch.
from petroleum profit tax (PPT)
and royalties from the oil and cent. This follows a slight dip in
2016 where the growth stood Business identified the
gas sector in January and
at 5.9 per cent. Laure Redifer, governance of state-owned
February 2017, according to
the IMF team leader for review entities, particularly Eskom,
latest data released by the
of Rwanda’s Policy Support and rising contingent liabilities
Central Bank of Nigeria, CBN.
Instrument, for insights on the as being among the main risks
drivers for growth, risks and other to SA’s fiscal consolidation.
Read more
aspects of the economy. She
Read more
said; “I do not foresee many
risks.
Read more12 H+K Africa Digest | May 2017
SA’s economy: into a EU gives Tanzania Uganda to Tanga Port in
Tanzania.
stormy future U.S.$200 million to
Read more
Ref: 25 May 2017 develop energy sector
SA is probably not heading Ref: 23 May 2017
for a catastrophic economic MPs approve five year
meltdown, but economists are The European Union, through
the Energy for Growth and Bujagali tax waiver
worried that further stagnation
and decay are quite likely. Sustainable Development Ref: 25 May 2017
programme, has given
The Uganda Parliament
SA’s economic outlook is Tanzania €180 million ($200
passed a tax waiver for
extremely uncertain but million) to develop its energy
Bujagali Power Project for the
the consensus is that the sector.
next five years as opposed
country is likely to experience to the 15 years proposed by
stagnant GDP growth with little The bloc, working with the
government.
improvement in per capita German Development Bank
income and employment (KfW) and the French Agency
In April this year, Government
over the next three years. And for Development (AFD), is
through the State Planning
that’s if everything goes really funding a €42 million ($47
Minister, David Bahati
well. million) electrification project
proposed a corporate tax
in north-western Tanzania,
exemption for Bujagali Hydro-
Read more covering the Kagera, Geita
Power Project up to June
and Kigoma Regions.
2033 under the Income Tax
‘We smell a rat’ says Read more amendment bill 2017.
Numsa on GM’s SA exit Read more
Ref: 18 May 2017 Agriculture sector
The National Union of heaves relief
Metalworkers of South Africa Ref: 20 May 2017 National Budget hits
(Numsa) recently said it Farmers and consumers of Shs29 trillion
was “shocked at the news” agricultural products will soon
that General Motors (GM) Ref: 24 May 2017
breathe a sigh of relief as the
intends to pull the plug on its government has announced Budget corrections submitted
operations in South Africa. the scraping of 80 out of 139 to Parliament have amended
levies, in the 2017/18 fiscal the 2017/18 Budget upwards.
Numsa General Secretary year, that have been hogging The new Budget estimates
Irvin Jim said GM informed the agricultural sector for a now move from the previous
“our members at a general long time. Shs28.2 trillion to Shs29 trillion.
meeting this morning that
it is withdrawing from the The decision is meant to In his letter to the Clerk to
South African market”. As a reduce the burden of Parliament communicating
result, production and sales numerous taxes that farmers the corrigenda, Secretary
of all Chevrolet models will have been subjected to; to Treasury Keith Muhakanizi
cease, and Isuzu will take over leading to high costs of farm explained that “there are
the firm’s operations in Port inputs, inflated prices of crops some errors and or omissions in
Elizabeth. and products to consumers. the annual Budget estimates;
as a result, the corrigenda
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Read more [corrections] have been
prepared to correct these
Tanzania Uganda errors and omissions.”
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Dar eyes BRICS loans Museveni, Magufuli
for SGR sign Hoima-Tanga oil
Ref: 12 May 2017 pipeline deal
Tanzania appealed for South Ref: 12 May 2017
African support towards Presidents Yoweri Museveni and
accessing soft loans from the John Pombe Magufuli have signed
BRICS development bank for a pact expressing their intent to
construction of the standard go ahead with the construction
gauge central railway network. of an oil pipeline from Uganda to
President John Magufuli made the Tanzania.
request in Dar es Salaam during
his meeting with South African The two leaders signed a
President Jacob Zuma who was communique agreeing to start
in the country for a two-day state construction of the East African
visit. Crude Oil pipeline (EACOP) project
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that is 1,400km from Hoima inYou can also read
