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Monday, June 1, 2020

Business & Finance

More blows for Isabel dos Santos as Lisbon court seizes NOS shares

Sonaecom, sub-holding of Portugal’s Sonae, said on Saturday evening a Lisbon court seized shares in telecommunications firm NOS of a holding company it co-owned with former first-daughter and Angolan businesswoman Isabel dos Santos.Sonaecom and dos Santos, who was named...

UNECA says Africa seeks IMF, World Bank and EU support on debt relief

African finance ministers want International Monetary Fund, World Bank and EU support for bilateral, multilateral and commercial debt relief amid the coronavirus crisis, the UN Economic Commission for Africa (UNECA) said.Africa is facing a perfect storm of an impending...

MTN to go ahead with Nigeria stock sale amid market crisis

MTN will push on with a plan to reduce its majority stake in the wireless carrier’s Nigerian business, though turmoil caused by the coronavirus may require the sale to be done in smaller chunks than anticipated.The impact of the...

Tunisia prints new banknote featuring first female doctor in North Africa

The Central Bank of Tunisia announced on Thursday that the new 10 Tunisian dinar note would feature female doctor Tewhida ben Sheikh, a first for the country.Ben Sheikh (1909-2010) was the first Muslim woman to become a physician in...

UNDP warns that half of jobs in Africa could be lost to coronavirus

The United Nations Development Programme has issued a call to action from the international community to assist developing countries with the enormous fallout they are expected to face due to the impact of the coronavirus pandemic.The UNDP said in...

World Bank, IMF clear Somalia for debt relief

The IMF and the World Bank on Wednesday said Somalia had taken the necessary steps to begin receiving debt relief, a key move that will allow the Horn of Africa country to lower its $5.2 billion in external debt...

Zimbabwe inflation rockets to 540 percent

Zimbabwe's annual inflation soared to over 500% in February, the country's statistical agency said on Monday, releasing its first consumer price data since June last year."The year-on-year inflation rate for the month of February as measured by the all-items...

Africa’s tallest building – The Leonardo opens in South Africa

Africa’s tallest building - and one of the most exclusive hotels in Sandton, South Africa, The Leonardo - finally opened its doors on Tuesday, with developers of the 234-metre tall building declaring the 240-suite hotel and residences ready 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,...

Liberian national named as deputy managing director at IMF

International Monetary Fund Managing Director Kristalina Georgieva on Tuesday nominated former IMF official Antoinette Sayeh to become a deputy managing director at the Fund.Sayeh, a Liberian national, was director of the IMF’s African Department between 2008 and 2016. She...
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Burundi 1st lady Denise Nkurunziza airlifted to Kenya after contracting Covid-19

The outgoing Burundi President's wife, Denise Bucumi Nkurunziza, has been airlifted to Kenya, where she is being treated at...
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Appeal courts revokes bail granted to ex-Lesotho PM’s wife

Lesotho’s Appeal Court on Friday revoked bail which had been granted to former prime minister Thomas Thabane’s wife, who is accused of murdering his...

Why every African woman 18+ should take folic acid daily

By Lydia OkolieIf you're capable of reproducing, I am talking to you—even if you're not planning to get pregnant. If you ever wish to...

Report says Nigerians paid $18.434m as ransom to kidnappers in 9 years

A new report by Nigeria leading geopolitical platform, SBM Intelligence, has shown that between year 2011 and April 2020, Nigerians have lost at least...

Covid-19: Parents in rejects plan to re-open schools in Nigeria

Some parents in Lagos State, Nigeria have kicked against reopening of schools in view of the continued rise in the number of the novel...