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Wednesday, September 23, 2020

Business & Finance

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"...

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,...
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US Secretary of States pushes for breakthrough on Sudan deal

AFPWith weeks to go before US elections, Secretary of State Mike Pompeo is racing to make a breakthrough with...
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Ouattara party dares Ivorians, says will hold election with or without opposition

ReutersIvory Coast’s ruling party said on Tuesday it will push ahead with the October election regardless of whether the opposition participate, comments likely to...

Egypt’s Sisi committed to ridding Libya of militia, regional interference

ReutersEgypt is committed to helping Libyans “rid their country of armed militias and terrorist organizations, and put an end to the blatant interference of...

France to Mali junta restore power to civilians quickly

ReutersMali’s military junta must restore power to civilians and arrange quick elections, France’s president said on Tuesday, warning that the French role in fighting...

Fmr Air force colonel named Mali interim president, junta leader VP

ReutersFormer Mali defence minister and retired colonel Bah Ndaw was named interim president on Monday while the leader of the junta that seized power...