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Friday, December 4, 2020

Business & Finance

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"...

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...
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Hundreds of Ethiopian immigrants get warm welcome in Israel

Hundreds of Ethiopian immigrants on Thursday arrived to a festive ceremony at Israel’s international airport, as the government took...
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Tigray leader to Ethiopia’s PM; stop the madness

The fugitive leader of Ethiopia’s defiant Tigray region on Monday called on Prime Minister Abiy Ahmed to “stop the madness” and withdraw troops from...

Explosions hit 3 Malian cities amid jihadist attacks

The cities of Kidal, Gao and Menaka in northern Mali were hit by simultaneous attacks on Monday against military camps housing international forces, according...

Ethiopia: Leader of Tigray forces says fighting continues near Mekelle

The leader of Ethiopia’s rebellious northern forces has said he is still fighting close to the regional capital of Mekelle after it was captured...

Suicide bomber kills at least 7 at Mogadishu ice-cream shop

A suicide bomber blew himself up in an ice-cream parlour in the Somali capital Mogadishu on Friday, killing seven people and wounding eight, an...