Good Morning Africa

🎙The textile industry is valued at $1 trillion and responsible for 10% of global emissions, but there is a growing movement towards a circular economy. 🎙The Bank of Uganda decided to reduce its benchmark interest rate for the first time since June 2021 to 9.5% from 10%. 🎙The second quarter of 2023 saw South Africa's unemployment rate at 32.6%, which was only slightly lower than market expecta...

🎙 The market has changed with a young population with a preference for digital solutions, where Fintechs have occupied and impacted the economic growth of countries through the expansion of financial inclusion to underserved consumers in rural areas. 🎙Mastercard's $5.2 billion investment in MTN's fintech subsidiary sparks a 10% share surge, amplifying collaboration's pivotal role in...

🎙Only 37% of women have a bank account, compared with 48 percent of men, a gap that has only widened over the past several years. 🎙The shilling depreciated sharply from 3615/3625 to 3725/3735 levels.  🎙The annual inflation rate in Tunisia eased for the fifth successive month to 9.1% in July 2023, from 9.3%    🎙The annual inflation rate in Namibia continued its downward trajectory to reach a near 1...

🎙Meet Elizabeth Mutesi, CEO of Tenda Organics 🎙Gold production in South Africa rose by 28.5% year-on-year in June 2023. 🎙Cybercriminals use software malware to attack companies' information.

🎙Airtel Uganda Ltd announced the intention to float on the Main Investment Market Segment of the Uganda Securities Exchange. 🎙WTI crude oil futures advanced to over $84 per barrel. 🎙Tanzania's annual inflation rate eased for the sixth straight month to an over two-year low of 3.3%    🎙Logistics firm Sendy is shutting down its operations in Kenya after failing to raise $100 million (Sh14 billi...

🎙Mauritius has the highest penetration of contactless transactions, and Uganda has the least, with 1.4% penetration. 🎙Cocoa futures traded below $3,400 a ton, down from 12-year highs of $3,562. 🎙IATA reports a 3.4% decline in air cargo demand.   🎙Kenya Airways (KQ) and  US carrier Delta Air Lines(Delta) have extended their strategic partnership.

🎙What companies need to do to attract investors and the dangers of mismatched financiers. 🎙South Africa Forex Reserves rises to a local high of $62.21 billion. 🎙VC investments in Africa fall by 43%. 🎙Airlines were forced to divert some flights after Niger restricted its airspace on Sunday night, making it more difficult for planes to fly across parts of Africa.

🎙Kenyans turn anger over tax hikes and high cost of living into deadly protests. 🎙The FAO Food Price Index increased to 123.9 from an upwardly revised 122.4 🎙Unemployment in Morocco rises slightly to 12.4% in Q2 2023 from 12.3%. 🎙Kenya is leading Africa in the development of key B2B payment processes, with over 83.4% of Kenyans stating that their payment system was either semi-automated or fully a...

🎙Meet the CEO:Isadora Bigourdan, CEO of Digital Africa. 🎙The JSE FTSE All Share Index reversed early losses to close about 0.4% up at 76,747. 🎙The S&P Global Ghana PMI inched up to 50.5 from 50.4 in the previous month, pointing to the sixth consecutive month of growth in the private sector.

🎙Niger citizens take to the streets to protest and support the new government. 🎙The local currency opened trading at N783.56 on Tuesday but closed at N789.08 to a dollar marking a 4.3% depreciation. 🎙Nigerian private sector momentum slowed last month, with the Stanbic IBTC Bank purchasing managers' index (PMI) moderating to 51.7 in July from 53.2 in June. 🎙Nigeria has cut its electricity supp...

🎙Egyptian Government announces privatization gains of around $1.9 billion. 🎙Top currency losers are the Nigerian Naira (-1.46%), 🎙The South African rand traded around 18.3 per USD. 🎙West Africa's GDP decelerated to 3.8% from 4.4%. 🎙Oil and Gas exploration is rebounding and is expected to top $50 billion this year.  

🎙Sparkle and Kush investments are going to provide new fibre solution opportunities for innovation and infrastructure development in Africa. 🎙The JSE FTSE All Share Index rose 0.5% to 78873 on Monday. 🎙Top currency losers are the Nigerian Naira (-2.29%), Japanese Yen (-0.86%) and Mexican Peso (-0.49%). Gains are led by the Australian Dollar (0.69%), New Zealand Dollar (0.39%) and Swedish Krona (0....

🎙Inflation and low public revenue have wiped out Ghana's economic gains post-Covid 19, leaving low-income households vulnerable and food insecure, according to the World Bank. 🎙The Naira appreciated slightly against the United States dollar on the Investors and Exporters (I&E) market, a day after the local currency recorded a sharp fall on the spot market. 🎙Rising input costs, multiple ex...

🎙He covers why it is vital to build investable businesses playing his part in making exits more recurrent in the ecosystem and his new baby Rustic Expeditions. 🎙The JSE FTSE was up around 1% to trade at 78347 on Thursday. 🎙Gabon launched Africa's first debt-for-nature swap on Tuesday, July 25. The deal will see the government buy up at least $540 million of its debt and switch it to a blue bo...

🎙Fitch has revised the outlook on Kenya's long-term foreign-currency Issuer Default Rating (IDR) to negative from stable and affirmed the IDR at B. 🎙Top currency gainers are the Zambia Kwacha (2.06%), and the biggest losers are the South African Rand (-1.00%). 🎙The International Monetary Fund now projects Sub-Saharan Africa’s economic growth at 3.5 percent in 2023 in the latest revision, up,...

🎙Have Ugandan companies in the healthcare sector cracked the code for Healthtech investment? 🎙The JSE FTSE all-share index rose 0.99% to 77525. 🎙Nigeria's current account surplus rose to $2.5billion in 2023 from $2.4billion in 2022. 🎙The world economy is expected to expand by 3% in 2023.

🎙Benefits and impact of sorting centers to the development of EA 🎙The NOC is active in bringing mothballed assets back into production to increase output. 🎙The Bank of Ghana raises its benchmark monetary policy rate by 50 bps to 30%.  🎙Mauritania will receive $767,000 from the ADF to develop livestock farming.

🎙Economic impact of SHC production on EAC countries. 🎙Algeria's oil production averages 940,000 bpd, down from 970,000 bpd in May. 🎙The South African Reserve Bank left its key repo rate unchanged at 8.25%.

🎙Meet the CEO:Natif Anthony, Founder  of Guardian Health 🎙Oil production in Nigeria increased by 5.1% m/m to an average of 1.24 million. 🎙The South African Reserve Bank left its key repo rate unchanged at 8.25%

🎙Fitch Solutions is projecting Ghana's real GDP growth to average 3% this year below 5.3% pre-pandemic. 🎙Nigeria's fuel consumption dropped to 46.38 million liters after the removal of subsidies. 🎙The UN worries about economic stagnation due to high debt obligations in some countries. 🎙Zambia's economy is projected to grow by just 2.7% in 2023

🎙PwC economists expect blockchain to boost global GDP by US$1.76 trillion – which is 1.4% of global GDP. 🎙JSE all share index was down almost 1% to 77,080 level. 🎙Africa Development Bank on strengthening access to finance for African airlines 🎙National Bank of Angola keeps interest rates at 17% 🎙Annual inflation in Nigeria rises to 22.79%

🎙$277 billion a year is needed to deal with climate change. 🎙Bitcoin broke above the $31,000 mark in mid-July. 🎙Ghana’s finance ministry has invited eligible holders to exchange $809.9 million in bonds 🎙Standard Chartered and Access Bank sell consumer, private, business banking services.

🎙Meet the CEO:Sylvester Lalu,- CountryRepresentativee of Eat Out Uganda 🎙VFD Group plans to raise N32.5 billion tostrengthenh its market position. 🎙The annual inflation rate in Ethiopia eased for a third consecutive month to 29.3%. 🎙The annual inflation rate in Angola quickened for the second month to a four-month high of11.25%.

Uganda has signed a power sharing agreement with South Sudan, enabling the East African country to purchase power generated in Uganda. Signed by Ruth Nankabirwa, Minister of Energy and Mineral Development of Uganda and her South Sudanese counterpart Peter Marcello in Juba on June 27 in the presence of South Sudan President Salva Kiir, the agreement paves the way for the two countries to fast track...