The Cinema Exhibitors Association of Nigeria (CEAN), the country’s premier Film Trade Association Body, has announced good news for cinema lovers on the occasion of the International Cinema Day. Opeyemi Ajayi, the chairman of the Cinema Exhibitors Association of Nigeria (CEAN), said in a statement on Tuesday in Lagos that cinema lovers would enjoy discounted […]
The South Sudanese Government has secured a loan from the International Monetary Fund (IMF) worth over $50 million, for the resuscitation of the economy due to the impact of Covid-19. This is going to be the South Sudan’s first loan from the IMF. As indicated by the IMF, preceding the COVID-19 pandemic, South Sudan had […]
Nigeria is sinking deeper into debt. Nigerian President Muhammadu Buhari presented the 2021 budget to the National Assembly on Thursday. He announced that it would be funded by fresh borrowings worth 4.3 trillion nairas, which is a third of the total budget of almost 13 trillion nairas. That’s 33.2 billion American dollars. The president said […]
The current R70-billion loan by the International Monetary Fund (IMF) to South Africa has been acquired with combined critiques via more than a few segments of the country. National Treasury Director-General Dondo Mogajane has welcomed the decision, indicating that the authorities will ensure that it meets the mortgage conditions and that it has in no […]
The International Monetary Fund’s discussions with South Africa over a $4.2 billion loan to support its fight against the coronavirus pandemic are taking place at a “measured pace” because the country’s deep and liquid capital markets ensure it still has access to financing, according to the director of the Washington-based lender’s Africa department. “The key […]
The COVID-19 pandemic and related measures have brought the world’s economy nearly to a total halt. A UN report released on May 12 projects the global economy to contract by 3.2% this year. World trade is forecast to shrink by nearly 15% amid sharply reduced demand and disruptions in global supply chains. The report known […]
The International Monetary Fund said on Tuesday its executive board approved $3.4 billion in emergency financial assistance for Nigeria to support the oil exporter’s response to the coronavirus pandemic. The global lender said it remained closely engaged with Nigerian authorities and was ready to provide policy advice and further support as needed. The outbreak and […]
Kenya’s request to the World Bank for $50m to fund containment efforts of the coronavirus pandemic has been approved according to Health Minister Mutahi Kagwe. Minister Kagwe confirms that the funds will largely go into boosting capacity of frontline staff – i.e. buying protective gear for health workers, hand sanitizers, increasing bed capacity in hospitals […]
The African Development Bank has signed an agreement with DAL Group, one of Sudan’s largest conglomerates, for the provision of up to $75 million to improve food security and household incomes in the country. The agreement is the Bank’s first private sector loan to the East African nation. The agreement was signed on Thursday, 5 […]