Author: Padili Mikomangwa

Padili Mikomangwa is an environmentalist based in Tanzania. . He is passionate about helping communities be aware of critical issues cutting across, environmental economics and natural resources management. He holds a bachelors degree in Geography and Environmental Studies from University of Dar es Salaam, Tanzania.

PwC Oil Gas review Africa’s oil gas industry needs to learn to leapfrog and harness innovation

The world recorded another day in history —April 20, as the day oil prices globally took a negative dive, dropping below zero for the first time. International players in the hydrocarbon game have not shaken, as traders and nations pursued storage space and determining ways to drive demand scarcity.

According to reports from Bloomberg News, the oil price rise was manifested by both, pandemic fears and the price war between Saudi Arabia, Russia and the US, which affected the energy markets and traders.

As the pandemic escalates, the umbrellas of lockdowns have annihilated significant demand for oil, and other economic gains associated. Hence—the price war broke and intensified, as Bloomberg report said “  Saudi Arabia and Russia, the world’s biggest oil producers, escalated the price war. A pact that had restrained production collapsed and both countries opened their taps to the fullest, releasing record volumes of crude into the …

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The second-largest economy in the continent—South Africa, is racing to beat the coronavirus global pandemic, as on Tuesday the South African President Cyril Ramaphosa announced a $ 25.3 billion rescue package to cushion the most industrialized nation in the region from the consequences of the pandemic, according to information from Reuters.

As the nation swims in its second recession in two years, the coronavirus (COVID-19) has caused the nation’s economic activities to stop due to mandatory lockdowns to curb the spread of the virus.

South Africa, which has over 3,400 confirmed cases and 58 deaths, will experience a rather bitter toll on her economy as experts forecasted that in the first three-month, growth is expected to contract by 1.5 per cent.

The southern Africa nation has been serious about the pandemic, as it rolled in one of the region’s toughest lockdowns banning anyone but essential workers from leaving home except …

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The novel Coronavirus (COVID-19) battle in Tanzania stands to get French government’s funding, as the East African nation awaits to receive part of the $1.3 billion (1.2 euros) provided by the G20 member for Africans to wipe off the pandemic.

Tanzania which is currently battling with more than 250 confirmed cases of the virus, will receive an amount that has not yet been established, according to information from The Citizen.

The French government—which is also one of Tanzania’s development partner, has already initiated discussions with the health ministry to fish out key areas to allocate the support, France ambassador to Tanzania Frederic Clavarier told The Citizen.

In that context, earlier this month French President Emmanuel Macron announced that his government would provide 1.2 ($1.3 billion )Euros for Africa to fight the virus.

“Up to this moment, we do not know how much Tanzania is going to get but after discussions …

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Kenya’s Safaricom M-Pesa —one of Africa’s and East Africa’s largest mobile money service, could be affected by the coronavirus pandemic (COVID-19), as the service provider anticipates its revenue to be hit to almost $51.64 million in the three months from mid-march after it adjusted prices because of the COVID-19 crisis, according to information from Reuters

According to Reuters, the lost revenue which is almost 7.3 per cent of the mobile money service provider annual revenue, will be caused by the removal of all charges on small peer-to-peer transfers to facilitate cashless payments to help to contain the coronavirus pandemic, which has already taken a toll in other crucial sectors of the East African economy.

As one among the region’s and global leader in the industry, the South African and Britain owned company is not worried by the forecast, as the company’s CEO Peter Ndegwa told Reuters, that they anticipate getting …

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The novel coronavirus (COVID-19) is still affecting more people in Tanzania, as today April 20, the number of people who have tested positive for the virus rose to 254 and 10 deaths, according to the Tanzanian Ministry of Health statement.

The East African nation has seen a rise in the number of cases from April 18 to April 20 hitting 84. Hence, the statement noted that out of 84 patients 16 were confirmed by the health ministry of Zanzibar (a semi-autonomous region of Tanzania).

The statement showed how the virus has spread across 17 regions, and perhaps it could be related to the warning given by the health minister Ummy Mwalimu of Tanzania dealing with a new dynamic of local transmissions.

First Tanzanian MP to get infected

The virus has also infected a Tanzanian member of parliament (MP) who recently travelled to the nation’s commercial-city, Dar es Salaam—which also leads …

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The coronavirus (COVID-19) pandemic has taken a toll on the education landscape in Tanzania, as private schools stand to lose around 20 per cent of their annual revenues due to the virus outbreak.

According to information from The Citizen, the current landscape of the COVID-19 pandemic in Tanzania has triggered the private school owners to give a call to the government for an intervention, as a financial storm looms over their investments.

In March, Tanzania executed a nation-wide school shut down for 30 days and the nation’s prime minister Kassim Majaliwa announced on 14 April an extension of the shutdown until further notice.

In this context, the extension means that teachers and non-academic staff of some schools are on indefinite unpaid leave as their employer’s struggle to meet operational costs without having to depend on fees paid by parents and guardians.

The global pandemic has now infected about 147 people …

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Africa, the world’s second-fastest-growing region might drive a third of 440 it’s formal and informal workers in unemployment, as the region rolls in lockdowns that sweep away people’s means to earn their income, according to McKinsey.

As the virus threats keep on taking new shapes, Mckinsey Finding Africa’s Path report entails that report, between 9 million and 18 million of Africa’s 140 human capital informal sector could lose their jobs.

The report also noted that a further 30 million to 35 million could see a reduction in wages and working hours, as one hundred million of the 300 million informal jobs in Africa are at risk.

Already the virus has hurt other decent-paying and highly labour concentrated sectors in the region such as manufacturing, retail and wholesale, tourism, and construction, as jobs of more than half of the workforce could be lost, the report highlighted.

The virus which has already …

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Zanzibar Health Minsiter Hamad Rashid Mohammed Internewscast

On Wednesday, April 15, Zanzibar, the semi-autonomous region of Tanzania well known for its exotic beaches recorded its first coronavirus (COVID-19) death, and in the same time, more people infected by the novel virus increase to 18 as 6 more people test positive for COVID-19.

According to the island’s health minister Hamad Rashid Mohammed, the deceased patient was a 63-year-old male, who passed away on Saturday at his home and was buried on the same day.

Further, the minister noted that the six new cases included five men and a woman aged between 33 and 63 are all from Zanzibar and did not have any recent travel history.

The minister also announced that two patients who were receiving treatment at designated hospitals on the Isles have been discharged after completing their treatment.

However, the new trend of coronavirus infections brings a different dimension in the fight against the pandemic which …

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money 2951142 1920

South Africa, Africa’s second-largest economy could be in deep trouble, as the nation’s currency—rand eased against the dollar early on Wednesday, whereby the currency kept on sustaining losses a day after the central bank surprisingly cut lending rates, according to information from Reuters.

The nation’s finance minister Tito Mboweni also gave a warning on the possible trail towards a deep recession this year. In a different occasion, the finance minister highlighted that a recession could hit due to the global coronavirus (COVID-19) pandemic, that has put the world economy at risk.

However, South Africa’s diversified economy was already in recession before the COVID-19 pandemic took a large toll on its economy.

READ:Recession could hit Sub-Saharan Africa, World Bank says

At 0625 GMT, the rand traded at 18.4770 per dollar, 0.9 per cent weaker than its previous close, according to data presented by Reuters.

However, according to the South African …

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tunisia el djem facade

Tunisia, one of Africa’s top exotic tourists’ destinations fate is hanging in the balance, due to the novel coronavirus (COVID-19) pandemic threatening the sector, as more than $1.4 billion and 400,000 jobs are at stake.

According to information from Reuters, an official document showed Tunisia seeking a loan guarantee from bilateral partners to issue sovereign bonds this year.

Further, Reuters highlighted that, in a letter sent to the International Monetary Fund (IMF), Tunisia’s central bank governor and finance minister said the country’s economy would shrink by up to 4.3 per cent, the steepest drop since the nation’s independence in 1956.

The IMF, which approved on Friday a $745 million loan to Tunisia to counter the consequences of the coronavirus, said a new funding programme with Tunisia could start in the second half of this year.

Hence, the size of the new programme remains unknown.

Earlier this year, the Tunisian Minister …

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