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Saturday, August 15, 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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Son of Angola’s ex-leader handed 5 yrs jail term in $500m graft case

Angolan Supreme Court sentenced Jose Filomeno Dos Santos, son of former Angolan president Eduardo Dos Santos to five years...
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Death toll from fighting from disarmament exercise in S.Sudan now 148

The death toll in South Sudan’s Warrap State has risen to 148 following fighting this past weekend during a disarmament exercise, a local government...

DR Congo struggle to dislodge armed groups

DR Congo's army launched an offensive last October aimed at fulfilling a pledge by President Felix Tshisekedi to root out the armed groups that...

UN experts accuse top Mali military officials of obstructing peace efforts

United Nations experts have accused senior army and intelligence officials in Mali of deliberately obstructing a shaky 2015 peace accord, originally designed to reduce...

Five dead in Ivory Coast protest against Ouattara 3rd-term bid

Protests against Ivory Coast President Alassane Ouattara’s decision to seek a third term in the coming election, has left at least five people dead...