The United Arab Emirates (UAE) has always been considered an important player in the international business environment. But beyond the economic powerhouse, the UAE is increasingly becoming a role model in tolerance and a reliable…
S. Africa’s Economy May Shrink as Much as…
South Africa’s economy could contract by 2% to 4% this year due to the coronavirus pandemic and measures to curb its spread, according to the Reserve Bank. A 21-day nationwide lockdown aimed at slowing the…
Fitch downgrades South Africa’s credit rating to ‘junk’…
Ratings agency Fitch downgraded South Africa’s credit rating further into “junk” territory on Friday, another blow for Africa’s most industrialised economy, which is still smarting from a Moody’s downgrade last week. Fitch lowered its long-term…
Calabar Mall didn’t collapse – Management
The management of the Calabar Mall and SPAR has debunked claimed that the mall collapsed. “The Calabar Mall building did not collapse as suggested through fake claims on the internet, and the shops remain open…
Coronavirus donations hit N15bn in Nigeria
The Central Bank of Nigeria (CBN) on Wednesday said that monetary contributions to its relief fund under the auspices of Private Sector Coalition Against COVID-19 (CACOVID) stood at N15 billion. CBN’s Director of Corporate Communications,…
Coronavirus: Stanbic IBTC Bank offers customer relief initiatives
Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has introduced customer relief initiatives aimed at reducing the unease felt by its customers as a result of the coronavirus global pandemic. The movements…
Egypt’s second richest man tells workers to return…
Egypt's second richest man has urged authorities to order people back to work once a curfew ends, and threatened to commit suicide if the measures to stem the spread of the coronavirus exceed two weeks.…
Banks lower charges for social grant recipients amid…
Social grant recipients will in the next few days make use of many ATMs and retail shops as possible to get their money without incurring high bank charges so they can practice social distancing. This…
MultiChoice sets aside R80 million for salaries during…
MultiChoice has set aside R80 million to pay their cast, crew and creatives in the industry during Covid-19 and the national lockdown period. Due to production coming to a halt in South Africa, MultiChoice said…
Ambitions of the CEMAC stock exchange
The Central African Stock Exchange wants to accelerate economic diversification of the sub-region following a listing operation on the Central African Stock Exchange. After the merger-absorption of the Douala stock exchange a little more than…
Bitcoin business needs support from the government –…
Odum Chijioke John, the Founder and Chief Executive Officer of Chiji14xchange, a leading Nigerian e-commerce company in the business of crypto currency trading and Gift cards exchange has decried the lack of government support in…
Aero Contractors suspend flights over coronavirus
Aero Contractors on Tuesday suspended all their flights for two weeks, beginning from 26 March. The Chief Executive Officer of the airline, Captain Ado Sanusi announced the decision in Lagos Sanusi said the suspension is…
Coronavirus threatens Morocco’s street vendors
As most business owners world wide grapple with the economic effect of the coronavirus, Moroccan casual workers say the virus is threatening workers in the country’s , without contracts and without social protection. The situation…
UBA Plc, affiliated companies cancel AGMs
United Bank for Africa (UBA Plc), Transcorp and all affiliated companies have announced the cancellation of their 2019 Annual General Meetings (AGMs) to prevent the spread of COVID-19. The companies stated this in a statement…
Fuel price: NOGASA commends Buhari
Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has lauded President Muhammadu Buhari for reducing fuel pump price from N145 per litre to N125 per litre. The National President of NOGASA, Mr Beneth Okorie…
Naira devalued as CBN seeks uniformity in exchange
Central Bank of Nigeria may have devalued the Naira by as much as 15 per cent as it seeks a single exchange rate instead of the often criticised multiple rates. An indication that the Naira…
MTN reviews tariffs in Uganda, Cameroon
Mobile phone giants, MTN, are tweaking their tariffs in the area of mobile money transfers in some African countries with the aim of reducing contact with cash amid the coronavirus pandemic. The latest developments are…
Coronavirus triggers glut of unsold crude oil in…
A glut of unsold, high quality Nigerian crude continues to build up with weak global demand caused by coronavirus and surplus supplies by Saudi Arabia, UAE, Russia and other OPEC nations. Nigeria, which produces some…
Ghana tweaks mobile money charges, Nigeria revises budget
The coronavirus epidemic continues to disrupt life across the world. The disruption is all but gathering steam in affected even virus-free African countries. The rate of infection is lower on the continent as compared to…
