Morning boats leave a quiet Pacific inlet, diesel hum in the air, gulls loud and nosy. News travels fast there. The $24.5M Grant from Bezos Earth Fund to Launch First Cross-Border Marine Biosphere Reserve in Latin America sets a clear signal. A large, practical step. Not theory. And yes, it anchors the phrase many groups […]
Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
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 foreign-currency issuer default rating to ‘BB’ from ‘BB+” and assigned a negative outlook. The agency cited “the lack of a […]
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 to customers,” it said. Mrs. Egbunu Kemi, the Management of the Mall has stated on record that the External Advertisement […]
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, Isaac Okorafor, said in a statement in Lagos that the donations were from 37 donors, including individuals, banks and other […]
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 of individuals had to be curtailed to discourage physical contact between people as a way of containing the spread of […]
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. In a TV interview widely criticised by labour rights advocates, Naguib Sawiris said Egyptians should go back to work after […]
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 is because banks were expected to “significantly” reduce their charges to increase the number of pay-points the grant beneficiaries can […]
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 that it was aware of the financial challenges that will be faced by their employees and freelancers. In a press […]
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 8 months ago and the hosting of its very first listing last February, the Central African Stock Exchange wants to […]
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 their evolving sub-sector of the e-commerce industry. Odum, who made this known in a recent interview accused the government of […]
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 meant to support the effort of the Federal Government to stop the Coronavirus pandemic from spreading further. “This is also […]
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 is particularly critical in the North African country marked by great inequalities and where the rate of informal employment reaches […]
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 to their shareholders and stakeholders posted on the Nigerian Stock Exchange (NSE) web site. UBA’s 58th AGM was initially slated […]
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 who made the commendation at a news conference in Owerri on Saturday, said the measure would help reduce inflation. He […]
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 in Uganda and Cameroon where the operator is waiving costs on transfers done with their mobile money platform. The MTN […]
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 of the easiest-to-refine crude that typically commands a premium, has 30 or more unsold April-loading cargoes, traders say, equal to […]
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 Europe, Asia and parts of the Americas, where lockdowns are in place. The impact on gatherings is an area that […]
The Johannesburg Stock Exchange (JSE) announces the primary listing of Ninety One Limited (NY1) and the secondary listing of Ninety One Plc (N91) on its Main Board. Ninety One Limited and Ninety One Plc will list on the JSE under the Asset Managers sub-sector. Ninety One has changed its name from Investec Asset Management. The […]
