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Sunday, June 20, 2021

Economy

Tax evasion, theft cost Africa $89b annually – UN

AljazeeraAfrica has lost nearly $89bn a year in illicit financial flows such as tax evasion and theft, amounting to more than it receives in development aid, a United Nations study has showed.The estimate, in the United Nations Conference on...

Air Peace Nigeria sack pilots, cuts pay over Covid-19 impacts

Nigeria's largest airline Air Peace said on Tuesday it had laid off a number of pilots and cut salaries in order to cope with the impact of the coronavirus on its operations.The private carrier did not disclose the number...

Shoprite joins Woolworths, Mr Price as it exits Nigeria after 15 years

Africa's biggest grocery retailer, Shoprite, is set to follow in the footsteps of Woolworths and Mr. Price as it exits the continent's most populated country, Nigeria, after 15 years.The Cape Town-based retailer has started a formal process to consider...

Demands for fair economies and less corruption fuelled protests in Africa – CIVICUS

A new report, the State of Civil Society Report 2020, published by global civil society alliance CIVICUS, sets out the major trends and events involving civil society over the past year.The report describes the massive people’s mobilisations that swept the...

Kenya rejects G20 debt relief initiative over restrictive terms

Kenya will not seek a suspension of debt payments under a G20 initiative aimed at helping poor countries weather the COVID-19 pandemic, its finance minister said on Friday, saying the terms of the deal were too restrictive.Minister Ukur Yatani...

Leadership betrayal may slowdown Africa’s momentum to combat covid-19

Recent reports by World Bank and International Monetary Fund indicate that sub Saharan Africa could be the hardest hit due to the coronavirus pandemic.Over 40 million people in the poorest continent are likely to suffer from abject poverty; a...

Nigeria asks lenders for $6.9 billion to fund coronavirus fight

Nigeria has requested $6.9 billion from multilateral lenders to combat the impact of the coronavirus pandemic on Africa’s biggest economy, the finance minister said on Monday.Nigeria, whose revenues have tumbled with the fall in oil prices, has asked for...

South African economy goes into recession

Widespread power cuts are blamed for pushing South Africa’s economy, the continent’s most industrialized, into recession, according to official statistics released Tuesday.The South African economy shrank by 1.4% in the fourth quarter of 2019 from the previous three-month period,...

Macroeconomic management weakens, while social inclusion improve slightly in Africa

Debt sustainability concerns on the rise Africa's poorest countries saw little to no progress on average in improving the quality of their policy and institutional frameworks in 2018, according to the World Bank's annual Country Policy and Institutional Assessment (CPIA)...

Africa inches toward historic free trade era

The African Union launches the "operational phase" this weekend of a long-awaited trade accord, but analysts say the continent faces an uphill task to transform the pact into reality.The 55-nation AU, gathering for a summit in Niger, will give...
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Firmin Ngrebada Central African Republic’s PM announces resignation

The prime minister of the troubled Central African Republic, Firmin Ngrebada, announced on Thursday that his government had tendered...
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