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Tuesday, May 26, 2020

Business & Finance

World Bank approves $500m to battle locust swarms

The World Bank on Thursday approved a record $500 million in grants and low-interest loans to help countries in Africa and the Middle East fight swarms of desert locusts that are eating their way across vast swaths of crops...

Total halts bid to buy Occidental Petroleum assets in Ghana

Total has called off a plan to acquire Occidental Petroleum’s assets in Ghana, which was conditional on the completion of the acquisition of Occidental’s other assets in Algeria, the French energy company said on Monday.The deal was part of...

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...

Massive undersea cable project set to boost internet in Africa

Telecoms and internet giants unveiled on Thursday a mammoth project to lay a subsea cable around Africa to boost internet access to the under served continent.The consortium, which includes China Mobile International, Facebook, Orange and Vodafone, said a cable...

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...

14 workers at Total’s Congo oil operations has coronavirus

French energy major Total said on Sunday that 14 workers including two of its staff have tested positive for the new coronavirus at its sites in Congo Republic, but output at the 190,000 barrels per day operations have not...

IMF approves $1B in emergency aid for Ghana, $442M for Senegal

The International Monetary Fund on Monday said its executive board had approved $1 billion in emergency funding for Ghana and $442 million for Senegal to enable both countries to respond to the rapidly-spreading coronavirus pandemic.Ghana was at high risk...

Chad completes talks with IMF over $115m emergency funding

The International Monetary Fund has completed talks with Chad aimed at granting access to $115 million from its Rapid Credit Facility to help the African oil producer confront the impact of the COVID-19 pandemic, the Fund said in 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...

AFDB staff accuse bank chief, Adesina of multiple violations

The head of the African Development Bank, Akinwumi Adesina, has been accused by bank staff of multiple abuses and breaches of the bank's code of ethics, charges he flatly denied.A group of anonymous "concerned staff members of the AfDB"...
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WHO fears covid-19 silent epidemic in Africa, analysts think otherwise

Africa has so far been spared the worst impact of the coronavirus, but the World Health Organization is worried...
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Libya coast guard intercepts 400 migrants off coast

Libya’s coast guard intercepted about 400 Europe-bound migrants off the country’s Mediterranean coast over the past two days, and brought them to the capital...

Burundi’s Evariste Ndayishimiye wins presidential election

Burundi’s ruling party candidate and retired general Evariste Ndayishimiye has won the presidential election with 68.72% of votes cast, the electoral commission said on...

Ivory Coast army joins Burkina Faso in anti-jihadist operation

Soldiers from Ivory Coast and Burkina Faso conducted their first joint operation against jihadists active near their shared border, killing eight suspected militants and...

Burundi to announce results of presidential election Monday

Burundi's electoral commission is to announce provisional results from last week's presidential election Monday, with the outgoing head of state's handpicked successor Evariste Ndayishimiye...