Good Morning Africa

🎙The National Social Security Fund (NSSF) revenue increased by 15% from Ugx 1.9 trillion to Ugx 2.2 trillion for the Financial Year ended June 30, 2023. 🎙Nigeria must deal with as much as $6.8 billion of overdue forward payments in the foreign exchange market before stabilization of the naira. 🎙The BRICS new alliance is expected to transform the grouping into a global leader in renewable energy in...

🎙Meet Apollo Sarah, CEO of Apopollo Network  🎙The South African rand traded around 19 per USD, holding close to the three-month low of $19.2. 🎙The South African Reserve Bank kept its key repo rate steady at 8.25%

🎙Upon assuming power,  President Bola Ahmed Tinibu’s first 100 days in office have been characterized by the rise in the price of petrol, and the Naira is on a free fall to the dollar. 🎙South Africa's annual inflation rate was at 4.8% in August 2023, remaining within the South African Reserve Bank's target range of 3% to 6%. 🎙Ghana's economy advanced by 3.2% year-on-year in the seco...

🎙The digital transformation plan is to Forster fintech evolution in 🎙OECD global GDP growth at 3% this year (vs 2.7%) and 2.7% in 2024 (vs 2.9%). 🎙Cybersecurity company Surfshark has ranked South Africa as number one in Africa for its “digital quality of life”, 🎙Pan-African industry association the African Private Capital Association (Avca) will host the second edition of the Sustainable Investing...

🎙Africa seeks global investment to unlock its agricultural potential, becoming the world's breadbasket, 🎙The JSE all-share index was down $74345 this Monday. 🎙IMF requests countries to cut on borrowing as the global debt returns to a pre-COVID high, which grew  $8.3 trillion in the first three months of 2023. 🎙In Kenya online threats in the country declined by 25.6 per cent to 139.8 million f...

🎙Africa offers investment opportunities in green metals that could drive global market growth in clean renewable energy technologies, including 11 TW of solar, which is the highest in the world, but only 1% is utilized. With 350 GW of hydro, only 7% is utilized; 115 GW of wind potential, of which only 2% is used; and 15 GW of geothermal power, of which only 2% is utilized.  🎙Ghana's cocoa out...

🎙Meet Natalie Ndagire, CEO of Forever Media. 🎙The JSE All Share index firmed to close about 1.4% higher at an over one-week high of 74,354 on Thursday 🎙African airlines increased to 98.4% in August 2023 traffic boosted by local markets, narrowing the revenue gap to $0.2 billion.

🎙Air travel in East Africa and the Single Africa Airline Transport Mark. 🎙JSE All Share index dips over 1% to 73,100 amid US inflation uptick, Cotasu labour union strike threat, and economic stabilization measures.  🎙World Bank's Job and Development Report: The Gig economy, accounting for 12% of the global labour market, offers promise for unemployed youths and women in developing countries....

🎙Uganda's inaugural Islamic banking license marks a milestone for economic development, offering new financial opportunities and inclusivity for its citizens. 🎙FAO Food Price Index drops 2.1% to 121.4 points in Aug 2023, the lowest since Apr 2021, reversing July's 1% gain, 24% below the March 2022 peak.  🎙The annual urban inflation rate in Egypt rose to 37.4% in August 2023, up from 36.5...

🎙Meet Rapa Thomson Ricky, Co-founder and Director of Safeboda. 🎙South Africa's Q2 2023 current account deficit surged to ZAR 160.7 Billion from a revised ZAR 63.7 Billion, falling short of market expectations of a ZAR 178.4 Billion shortfall. 🎙Gross reserves in South Africa edged lower to $61.998 billion in August 2023 from a record high of $62.212 billion in July. 🎙Mobile money and remittanc...

🎙Climate action can help Africa to combat some of its great challenges and one of the solutions is to use green bonds to attract investors from other countries.  🎙Saudi Arabia and Russia extend oil cuts of about 1M bpd and 300K bpd until December 2023, driving global prices higher than $90.5 per barrel.  🎙UN Chief Guterres calls for urgent reforms at World Bank & IMF, labelling their policies...

🎙The wildlife safari industry in Africa is estimated at between $12.4 billion and $42.9 billion contributing 10% to the continent's GDP 🎙Unequal Carbon Credit Pricing: Africa's 3.8% Emissions vs. Global North - 10x Disparity Demands Fair Change at UN Conference. 🎙 South African GDP growth surpasses 0.6% in Q2 2023 after a 0.4% expansion in Q1, which is better than a 0.1% forecasted rise.

🎙 Africa Climate Summit aims at building resilience to climate risks and collaborating on solutions that can benefit all sectors of society. 🎙The NSE-All Share index continued its upward momentum, hitting a new all-time high of 68,221. 🎙Africa urges regulatory oversight of Credit Rating Agencies to counter inaccuracies, disruptive announcements and encourage investment.

🎙 Airtel Uganda offers 20% ($1.9 billion)of its share to the USE, seeking over $200 M in its initial public offering. 🎙Cocoa futures in the US continued their upward trajectory, surpassing the $3,600 mark for the first time since March 2011. 🎙The JSE All Share index was slightly down to 74,800 on the first trading session of September, mainly due to the underperformance of resource-linked sectors...

🎙Meet Bruno Muhire, Co-Founder of the Island of Hope. 🎙The JSE All Share index fell about 0.4% to close at 74,954 on the last trading day of August. 🎙The annual inflation rate in Zambia accelerated for the second month to 10.8% in August 2023

🎙 Internal political manoeuvring acts within the EAC are disrupting economic integration progress by creating non-tariff barriers. 🎙NSE-All Share index extends its positive momentum, touching a new all-time high of 66,650 in the fourth consecutive session on Wednesday. 🎙The JSE All Share index traded slightly higher above 75,000 on Wednesday. 🎙Africa Shifts Focus: Invests in Industrial Zones, Prom...

🎙 BRICS fuels African growth through collaborative investments, fostering development, inclusivity, and multilateral cooperation. 🎙Egypt’s EGX 30 soars to 18,660 amidst 36.5% inflation, driven by investors seeking refuge from currency devaluations and Russia's Ukraine impact. 🎙Nile Dam Talks: 2 Days, 3 Nations, $5 Billion Project, 0 Breakthrough on Vital Water Flow Agreement.

🎙South Sudan Allocates $2 Billion for Fiscal Year, Focusing on Infrastructure, Peace, Security, and Building the capacity of Government institutions. 🎙Libya's National Oil Corporation (NOC) has announced that oil production has now been steady for 10 months averaging 1.12 million barrels per day (bpd) 🎙Nigeria's economy advanced at a faster 2.51% from a year ago in the second quarter of...

🎙Meet Ryan O’Grady CEO of KI Africa. 🎙Uganda shilling maintains its strengthening trend against the dollar, closing Thursday’s session at the 3690/3700 levels from the day’s opening of 3715/3725. 🎙BRICS Expands: New Members Join to Shift Global Power Dynamics.

🎙NSSF Uganda has set a goal to increase its assets from Ushs 18.4 trillion to Ushs 50 trillion. 🎙JP Morgan Questions Nigeria's External Reserve Reporting, Estimates Actual Reserves at $3.7 Billion Amid Assumptions of IMF SDRs and FX Liability Adjustments, Highlighting FX Market Pressures and Central Bank's Rate Management Abilities. 🎙The gross domestic product of Mozambique grew 4.67% ye...

🎙Removing visa requirements in Africa can promote growth, trade, and cultural exchange, leading to a brighter future for all. Removing visas in Africa can promote growth, trade, culture, and a better future for everyone, transcending borders. 🎙The South African rand traded around 18.8 per USD, up from an over two-month low of $19.2 in August. 🎙Morocco's annual inflation rate slowed to 4.9% fr...

🎙The World Bank's decision to suspend funds to Uganda over its controversial anti-LGBTQ law underscores global pressure for human rights and equality, impacting the nation's economic trajectory. 🎙The JSE FTSE All Share Index rose 0.9% to close at 73,760 on Monday, ending a six-day losing streak. The rebound was driven by a 1.8% increase in the financial sector. 🎙Kenyan start-up Twiga Foo...

🎙The global economic outlook and how decisions in the different parts of the globe will affect those on the continent. 🎙Cocoa futures jumped above $3,400 a tonne, approaching levels not seen in over twelve years, amid a deteriorating outlook for global supply against a backdrop of rising demand. 🎙The JSE FTSE All Share Index fell more than 1% to trade below 73,290. 🎙Africa's Potential: Global...

🎙Meet Richard Zulu, Founding partner and Team Principal at Outbox Uganda. 🎙The benchmark EGX 30 Index topped the 18,000 level, approaching record levels seen in April 2018 🎙Norwegian Renewable Energy Giants Spark Growth in South Africa and Beyond

🎙Achievements made after the Final Investment Decision (FID) for developing Uganda’s oil and gas projects. 🎙Oil production in Nigeria decreased last month, with output dropping by 11.3% m/m to an average of 1.1 million barrels per day (bpd). 🎙The Kenyan government has reversed its stance on fuel subsidies to protect consumers from skyrocketing pump prices. 🎙Namibia's central bank left its key...