- The Travel and Tourism Competitive Index 2019 report released by the Jumia Africa Hospitality Group indicated that Tanzania is 10th in the tourism growth ranking of over 50 African states. This indicates that the country is now reaping the benefits of positive policy changes coupled with increased investments in the sector.
- Provision of affordable housing is one of the key pillars of Kenya Big 4 Agenda. The government has allocated 11.4 BN KES (109.8 MM USD) to affordable housing, besides injecting 5 BN KES (48.1 MM USD) to the National Housing Development Fund.
- Kenya has launched a fish-rearing program amounted to 14 BN KES (134.8 MM USD), aiming at doubling fish production as Kenya moves to cut reliance on imports and meet per capita consumption per person that is projected to grow from 4.5 kilos to 10 kilos.
- China accounted for 66.38% of Kenya bilateral debt, underlining Nairobi's over-reliance on China to fund infrastructure development. Kenya contracted additional 96.53 BN KES (929.46 MM USD), raising Beijing's stock of debt to Kenya to 671.15 BN KES (6.46 BN USD) in June 2019 compared to 2018.
- The financial and insurance sector has for the first-time overtaken manufacturing to become the largest source of tax revenue registering 165.84 BN KES (1.6 BN USD) in 2018/2019 compared to last year.
- Zambia Finance Minister unveiled 106.0 BN ZMW (about 8.15 BN USD) 2020 national budget, which represents about 32.4% of GDP. The budget will include 72 BN ZMW (5.5 BN USD) coming from domestic revenues while the balance will be raised through domestic and external financing.
- Zanzibar government has signed an MoU with the Abu Dhabi Fund for Development (ADFD) to provide 10 MM USD for rehabilitation of Wete referral hospital in Pemba Island.
- Zimbabwe is expected to export 50 megawatts of electricity to Namibia in fulfillment of a 15-year agreement signed between the two countries in 2015. Zimbabwe power utility, ZESA is currently supplying 80 megawatts to Namibia power utility, NamPower.
- An independent scientific group from both countries, Egypt and Ethiopia as well as Sudan will start meeting on Monday in Khartoum hoping to find a consensual way out of the dispute over filling and operating Grand Ethiopian Renaissance Dam (GERD).
- Meghan Markle made a special surprise appearance as Prince Harry continued his royal tour of Africa visiting a school in Malawi. During his visit, Harry saw the impact of U.K. investments to ensure that girls obtain at least 12 years of quality education.
- The Nairobi Securities Exchange has extended ARM's suspension from the exchange by nine months. The cement company was placed under administration in August 2018 due to financial challenges.
- The value of stocks traded in the Nigerian Stock Exchange dropped by 10.95% to 16.69 BN NGN (56.7 MM USD) at the end of last week as market activity for the week witnessed a decrease.
- Next week CIC Insurance Group will pay back investors of its five-year 5 BN KES (48.1 MM USD) bond, their principal dues, making the underwriter the latest corporate bond issuer to retire its debt without going back to the capital markets for a rollover.
- Barclays Bank of Kenya has signed an agreement with the real estate arm of Centum Investment Company to finance buyers of properties being developed in Kilifi and Nairobi at discount interest rates. The loans will be priced between 11.5% and 11.9%.
- The planned merger between telecommunication firms Airtel and Telkom Kenya is hanging in the balance as an ongoing investigation by the anti-corruption regulator beyond the completion deadline agreed between the two companies.
- Faulu Microfinance Bank has announced a 113 MM KES (1 BN USD) branch expansion plan opening eight new branches in Ugunja, Kapenguria, Homabay, Kericho, Busia, Voi, Bondo and Limuru.
- TechnoServe Nigeria, a non-governmental organization, has trained 300 unemployed youths in Abuja and Enugu State as part of its plan to build competitive businesses, as well as tackling youths' unemployment in developing countries funded by Citi Foundation.
- The International Monetary Fund (IMF) stated that Zimbabwe key to ending economic volatility for balanced and sustainable growth, is by maintaining a stable exchange rate, containing fiscal spending and ensuring non-inflationary financing of public programs.
- Huaxin Cement, a leading Chinese company has bought Athi River Mining (ARM) Cement's Tanzania subsidiary, Maweni Limestone Ltd, for about 11.9 BN KES (116 MM USD).
- The Fair Competition Commission (FCC) plans a meeting on Thursday over the proposed merger between two Kenya commercial banks; Commercial Bank of Africa (CBK) and NIC Group Plc (NIC) both of which have subsidiaries in Tanzania.
- International Cement Group (ICG) has called off its proposed 104.4 MM USD purchase of African cement producer Schwenk Namibia. The deal, which was first announced in March 2019, was terminated on September 27, 2019.