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Africa
Coronavirus: IMF, World Bank Suspend Debt Payments By Nigeria, Others
The International Monetary Fund and World Bank on Wednesday announced a hold on debt payments from Nigeria and…
Coronavirus: Kenya Bans The Importation Of Second-hand Clothes
Kenya has banned the importation of second-hand clothes, popularly known as “mitumba”, as a way of limiting the…
UN Sees Africa Sliding Into Recession Without Debt Help
frica could fall into recession this year if multilateral lenders and investors don’t help the continent waive…
South African President Meets Business Leaders as Virus Spreads
The country has escalated measures to curb the spread of the virus, including banning travel to and from various…
Tunisia Allocates $850 Million To Combat Effects Of Coronavirus
Tunisia is allocating 2.5 billion dinars ($850 million) to combat the economic and social effects of the…
Emirates Airline Suspends Flights To Nigeria, New York, France, Germany
Emirates, one of the world’s biggest international airlines, is suspending all flights to Nigeria, France, Germany,…
South Africa Regulator to Crack Down on Price Gouging in Disaster
South Africa’s Competition Commission will prioritize complaints about rising prices for essential products to…
Uganda Cuts Growth Outlook as Coronavirus Outbreak Hurts Tourism
Uganda sees economic growth slowing to 5.2% to 5.7% in 2019-20 from an earlier forecast of 6% depending on the…
Coronavirus: South Africa grounds international flights till may
South Africa’s flag carrier on Friday suspended all international and regional flights until the end of May…
Tourists’ departure leaves Madagascar forlorn as coronavirus fears bite
On a pristine island off the northwest coast of Madagascar famous for its orchids and turquoise, turtle-filled…
Egypt to shut all cafes, malls, sports clubs in evenings until March 31
Egypt said on Thursday it would shut all cafes, shopping malls, sports clubs and nightclubs from 7 p.m. until 6…
Nigeria, others may lose over $110b in taxes, revenue as oil Price sinks to $24
As Coronavirus pandemic continues to rage and disrupt international economies, the African Energy Chamber (AEC), as…
The Only Question on South African Rate Cut May Be ‘How Much?
The debate around South African interest rates has now moved from whether the central bank will cut, to how much…
More pain for Nigeria as oil sinks to $29
With the international oil benchmark, Brent crude, falling below the $30 per barrel mark on Monday, the…
Togo, Niger, Benin owe Nigeria N30bn for electricity
The Republics of Togo, Niger and Benin owe Nigeria a total of N29.97bn for the electricity supplied to them from…
Johannesburg Stocks Fall to 2013 Low as Virus Steps Worsen Woes
South Africa’s benchmark stock index fell to the lowest since July 2013 after President Cyril Ramaphosa’s…
More African countries confirm first coronavirus cases as Jack Ma pledges aid
Chinese billionaire and Alibaba co-founder Jack Ma pledged to donate over 1 million coronavirus tests to Africa on…
Egypt to halt flights from Thursday to stem spread of coronavirus
Egypt will halt all air traffic at its airports from Thursday until March 31 to prevent the spread of coronavirus
Zenith Bank limits int’l withdrawal amount on card
Zenith Bank has limited the monthly international withdrawal limit on its Naira cards to $1,000 per month,…
Lagos explosion: Sanwo-Olu sets up investigative panel, N2bn relief fund
Sanwo-Olu, who visited the scene on Monday morning, also announced a N2 billion relief fund to cushion the effect…
Ghana Closes Borders for Arrivals From Coronavirus-Hit Countries
Ghana is closing its borders to travelers from countries with more than 200 cases of the coronavirus as the West…
Reports suggest Zenith Bank given green light to acquire Union Bank
Zenith Bank Plc has reportedly been given the green light to merge or acquire Union Bank Nigeria Plc.
Johannesburg Stocks Fall Most Since 1997 in ‘Panic’ Sell-Off
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Traders Dust Off Old Disaster Hedge With Virus Fear Escalating
When markets are in turmoil, traders turn to their favourite hedges.
They’re going for a classic form of…
South Africa’s rand steady in calm trade after coronavirus slide
South Africa’s rand traded slightly firmer early on Friday, recovering from a sharp dip in the previous session…
What does Coronavirus outbreak mean for investors?
From Wuhan, one of China’s most populous cities, the 2019 novel Coronavirus (2019-nCoV) has now spread to 74 more…
IMF: coronavirus means 2020 growth will be lower than 2019
The International Monetary Fund is to offer $50bn (£39bn) in emergency funding for countries hit by the…
Moving goods from Apapa port 10 times costlier than Ghanaian, South African ports
A research carried out by SBM Intelligence has shown that it is 10 times costlier to move goods from the port in…
South Africa Central Banker Sees No Need for Emergency Rates Meeting
South Africa’s central bank sees no need for an emergency meeting on interest rates and will wait for its regular…
Nigeria Senate Approves President’s $23 Billion Loan Request
Nigeria’s Senate approved President Muhammadu Buhari’s plan to borrow $22.7 billion from external creditors to…