ARC East Africa Weekly Chronology
24 October- 6 November 2024

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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.

 


Weekly Update on events in East Africa


Africa Risk Consulting – Your first choice for Africa due diligence, country assessments, strategic advice and compliance consulting.

6 Nov 2024 Dar es Salaam (Tanzania) IPP Media. Tanzania Petroleum Development Corporation (TPDC) says the East African Crude Oil Pipeline (EACOP) project is nearly halfway complete;

5 Nov 2024 Kinshasa (DRC) Barrons. DRC and Rwanda’s foreign affairs ministries affirm the need for parties to respect a ceasefire in eastern DRC:

5 Nov 2024 Kinshasa (DRC) Africanews. Local media report that M23 rebels seized the strategic town of Kamandi Gîte near Beni as talks between DRC and Rwanda – mediated by Angola – continue;

5 Nov 2024 Amhara (Ethiopia) AFP. United States (US) says it is concerned over increasing violence in Amhara region and recommends political dialogue to address Ethiopia’s ongoing internal conflicts;

5 Nov 2024 Nairobi (Kenya) HRW. United States-headquartered Human Rights Watch says Kenyan security forces abducted, arbitrarily arrested, tortured and killed perceived leaders of the anti-Finance Bill protests between June and August;

5 Nov 2024 Nairobi (Kenya) Reuters. Kenya’s Purchasing Managers’ Index (PMI) rises to 50.4 in October from 49.7 in September, indicating an improvement in business conditions;

4 Nov 2024 Djibouti (Djibouti) Arab News. Saudi Arabia’s budget airline flynas confirms it will start flights to Uganda and Djibouti from January 2025;

4 Nov 2024 Kinshasa (DRC) The Africa Report. The DRC remains absent from the East African Community’s (EAC) ongoing East African Legislative Assembly (EALA) plenary sessions due to its inability to contribute financially to the EAC;

4 Nov 2024 Dar es Salaam (Tanzania) Miningmx. United States-based Pula Graphite Partners files a $195m lawsuit against South Africa-headquartered African Rainbow Minerals (ARM) accusing them of breaching a confidentiality agreement regarding a proposed joint venture to develop a graphite mine in eastern Tanzania;

4 Nov 2024 Kampala (Uganda) Business Day. MTN Uganda reports profit after tax for the nine months ended September rose 29.6% to USh459.4 billion ($125.8m) while revenue increased to USh2.33 trillion ($638.07m);

3 Nov 2024 Kigali (Rwanda) Club of Mozambique. Rwanda denies claims that its armed forces have been deployed to Mozambique’s capital, Maputo, to control post-election demonstrations;

2 Nov 2024 Nairobi (Kenya) News Central.  Abraham Kithure Kindiki is officially sworn in as deputy president;

1 Nov 2024 Bujumbura (Burundi) Business Day. President Evariste Ndayishimiye assumes the rotating presidency of Common Market for Eastern and Southern Africa (COMESA);

31 Oct 2024 Addis Ababa (Ethiopia) Bloomberg. Prime minister Abiy Ahmed says Ethiopia has doubled its revenue goal to $12.5 billion with new targets, aiming to collect 1.5 trillion birr ($12.5 billion) in this fiscal year compared to the 613 billion birr ($5 billion) predicted;

31 Oct 2024 Addis Ababa (Ethiopia) Shega. Prime minister Abiy Ahmed announces significant expansion in the aviation industry, with Ethiopia planning to build the largest airport in Africa, capable of handling nearly 130 million passengers annually, and state-owned Ethiopian Airlines has ordered 124 new planes to expand their fleet;

31 Oct 2024 Nairobi (Kenya) East AfricaInternational Monetary Fund (IMF) has approved disbursement of $606.1m to Kenya as first deputy managing director Gita Gopinath announces the money will be used to rebuild fiscal buffers and resilience to climate shocks;

30 Oct 2024 Nairobi (Kenya) Kenya TimesCompetition Authority of Kenya (CAK) has approved plans to sell all National Bank of Kenya (NBK) shares to Nigeria-headquartered Access Bank PLC under the proviso that 80% of NBK’s employees retain their jobs for at least one year;

30 Oct 2024 Kinshasa (DRC) Mining.comCanada-headquartered Ivanhoe Mines has cut its full year copper production estimate by 6% blaming power outages at its Kamoa-Kakula complex;

29 Oct 2025 Addis Ababa (Ethiopia) Kenya Wallstreet. The Ethiopian Shipping and Logistics Services Enterprise (ESL) is planning a rapid expansion in its cargo fleet with six additional bulk cargo ships to add to its current fleet of 10 to meet rising demand;

28 Oct 2024 Nairobi (Kenya) Construction World. Kenya’s High Court has suspended a $736m power line deal involving India-headquartered Adani Group that was designed to improve power distribution across the country;

28 Oct 2024 Nairobi (Kenya) Africa News. Labour and social protection cabinet secretary Alfred Mutua reports that 5,000 Kenyans are stranded in Qatar without jobs or any financial support, after rogue agents lured them to Qatar promising them job opportunities during the 2022 FIFA World Cup;

28 Oct 2024 Dar es Salaam (Tanzania) Tip RanksUnited Kingdom-headquartered Caracal Gold PLC announces that it has secured a mining licence in Tanzania for the Kanegele Project at a cost of $500,000;

28 Oct 2024 Kampala (Uganda) Zawya. Energy secretary Irene Batebe has announced that the Juba power line has been delayed a further four years due to issues with funding, leaving Uganda with an excess of power from the recent investments in hydropower dams;

27 Oct 2024 Kinshasa (DRC) RFI. Italian priest Davide Marcheselli reports that eastern DRC is struggling with firms, mostly Chinese, mining gold without permits in the town of Kitutu;

25 Oct 2024 Djibouti (Djibouti) Reuters. Turkey confirms its foreign minister, Hakan Fidan, will travel to Djibouti next week to attend a Turkey-Africa ministerial meeting and discuss improving cooperation between Turkey and Africa;

25 Oct 2024 Nairobi (Kenya) BBC. The email address for the public to comment on laws proposed in the Senate crashes after an overwhelming response to a controversial bill which seeks to extend the terms in office of the president, county governors and members of parliament (MPs) from five to seven years, among other issues;

25 Oct 2024 Kigali (Rwanda) France24. Paris Administrative Court (France) is examining a request from several Rwandan survivor associations concerning the responsibility of the French state in the Rwandan genocide;

25 Oct 2024 Kampala (Uganda) VOA. High Court’s International Crimes Division sentences former Lord’s Resistance Army (LRA) commander Thomas Kwoyelo to 40 years in prison for war crimes;

24 Oct 2024 Kinshasa (DRC) Africanews. President Felix Tshisekedi announces the creation of a commission to review the constitution;

24 Oct 2024 Asmara (Eritrea) Borkena. The Civil Aviation Authority has reportedly sued Ethiopian Airlines seeking $3m in compensation for the loss of 450 pieces of luggage;

24 Oct 2024 Dar es Salaam (Tanzania) Daily News. Vice president Philip Mpango calls on potential investors to explore the vast opportunities in Tanzania’s geothermal energy sector, emphasising the government’s commitment to facilitating investments in the area;

23 Oct 2024 Nairobi (Kenya) ReutersCentral Bank of Kenya (CBK) governor Kamau Thugge says Kenya has fulfilled all targets mandated by the International Monetary Fund (IMF) in a review of its loan programme and expects to continue its engagement with the global lender after April;

23 Oct 2024 Kigali (Rwanda) Zawya. Forex bureaus report a United States (US) dollar scarcity amid a depreciating Rwandan franc;

 

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ARC East Africa Weekly Chronology 24 Oct – 6 Nov 2024_