Browsing: Coronavirus

The price for crude oil is down 60 percent since the year started and it is only tumbling further, global oil news reports.

On the one hand, analysts blame the ongoing coronavirus pandemic and on the other the price war between Saudi Arabia and Russia is said to have contributed to the sharp drop.

Even the movers and shakers are feeling the pinch, oil in the US plummeted 34%, crude oil falling by 26%, and brent oil falling 24%. Associated Press reports that prices this week dropped to an 18 year all time low of under USD20 a barrel for the US.

Speculators say it is the best time to invest, pessimists would have you shy away from taking the risk.

The idea is a simple business law, buy when prices are low and sell when prices peak, so technically, the advice to buy into the oil business now is …

As the number of new coronavirus infections reaches 53, the government of Tanzania has ordered schools to stay closed indefinitely, evidence of the uncertainty that haunts these murky coronavirus times.

It is the crowded commercial port city of Dar es Salaam that is most affected, in fact all the  53 new Covid-19 reported cases are in the city of 6 million plus people.

There are 4 new cases since the last new infection was reported on Monday making it 4 new cases in just 3 days, that is a rate of almost one new infection per day this week.

The development comes inspight of all precautionary measures that the city has taken including having hand sanitizers in every store, government office, market place and even public transport vehicles.

Union & Labour Day cancelled days from annual celebrations

With the exponential increase in rate of infections, and the spicy Islands …

At a time when physical contact is discouraged due to spread of coronavirus, Tanzania’s little town of Kilimanjaro, has set up Automated Teller Machines (ATM) for the sale of milk. There is little human contact involved apart from the exchange of money making the machines a vital game changer in curbing spread of the virus.

The move has set a global precedence in the use of digital telecommunication for commercial purposes.  What stands out is the fact that the technology has not been set up in the bustling urban town of Dar es Salaam but rather on the outskirts in the small town.

“This is what technology is for…it not only for the urban centers, it should be used to make life easier in rural areas as well, and the set up of automated milk dispensers in rural Kilimanjaro is a good example,” says milk producer Ivan Mangesi.

Ivan is …

By Eric Osiakwan

When I postulated the digital economy in Africa in 2013 as a precursor to becoming a fulltime angel investor and subsequently writing about its KINGS in 2016, it never crossed my mind that in 2020 COVID-19 would be the SPEEDING agent. Who could have predicted COVID-19 except Bill Gates who alluded to a viral outbreak in his 2015 TED talk whiles George Bush and Barack Obama were more accurate in prospecting 2020 as the year? However, none of them envisaged the extent of this epidemic which has pretty much collapsed the capital markets and slowed down the economies of many countries with many of us at home – literally trying to survive the pandemic.

Policy action
African leaders took the major decision to declare a lockdown and, in some cases, daily curfews for fear of the virus spreading and overwhelming the (in some cases non-existent) healthcare …

For almost a decade now, China’s presence in Africa continues rumbling the West which has been relegated to an almost observer state by the Asian giant.

As the latest scramble for the resource-rich continent gathers pace and with the shift from aid dependence to homegrown solutions, China has been a welcome handyman in fixing problems through expensive infrastructural projects commissioned by leaders who have a huge legacy stake in them. However, these projects are raising more questions than answers from citizens and observers.

The questions arise from the fact that in real life, the economies have not been growing as much as they are depicted in papers and flamboyant GDP plans. Again, many nations are now stuck in the red since in a state of distress as loans fall due and with no means to service them.

Golden opportunities at bridge connecting 8 African countries

These African nations are having …

The International Monetary Fund (IMF) Executive Board approved $165.99 million to help the Republic of Madagascar to address the urgent balance of payment that needs stemming from the outbreak of the COVID-19 pandemic.
The funds were under the Rapid Credit Facility (RCF). RCF provides rapid concessional financial assistance with limited conditionality to low-income countries (LICs) facing an urgent balance of payments need.

Madagascar’s economy has largely been affected by the coronavirus pandemic with the country’s tourism dramatically declining, trade and investments declining as well as interferences in the manufacturing and mining exports.

The government of Madagascar is taking immediate actions to mitigate the shock of the COVID-19 pandemic by putting immediate fiscal measures to strengthen social protection and support the most vulnerable in society.

Suspension of fees and social contributions to aid the private sector in the country, donating staple food and also providing liquidity to preserve the stability of …

As the initial cases of Coronavirus were bubbling under in China, a special event was happening in a Nairobi hotel. Safaricom, the biggest telco is the East African region was signing a deal that would allow South Korean telco Korean Telcom (KT) to introduce an epidemiological tracing technology in Kenya.

The two entities joined together with the Ministry of Health to launch disease surveillance and awareness project that will enhance the country’s epidemic preparedness and control.  Safiri Smart is part of Korea Telecom’s Global Epidemic Prevention Project and is aimed at helping the Ministry of Health prevent the transmission of infectious diseases such as Ebola from entering Kenya.

“This solution will see Safaricom subscribers who opt into the service receive important information about any epidemics that have broken out at their travel destination including prevention, measures, and symptoms. Such partnerships that help keep our communities safe are crucial in our …

During the 2014-2015 Ebola outbreak in West Africa the disease brought the economies of the region to its knees. The overall impact of the Ebola crisis on Guinea, Liberia, and Sierra Leone was estimated by the World Bank to have hit $2.8 billion ($600 million for Guinea, $300 million for Liberia, and $1.9 billion for Sierra Leone). This included the shocks in 2014 and 2015, and 2016 as the economic impact is outlasting the epidemiological impact.

The economies of the region remained in recession for a while and the countries are still showing signs of human capital loss as well as economic stagnation. Liberia lost 8% of its doctors, nurses, and midwives to Ebola. Sierra Leone and Guinea lost 7% and 1% of their healthcare workers, respectively.

The United States, the United Kingdom, and Germany were the top donors to the international Ebola response, donating more than $3.611 billion (US$) …

By Anusha, Anusha Lalani, Communications Fellow at Aga Khan Academies, Mombasa, Kenya.

Since 16 March 2020, the Aga Khan Academy Mombasa has been closed due to the COVID-19 (coronavirus) pandemic. Within two days after the government’s announcement to have all schools closed, the Academy managed to send its 260 residential students back to their home countries, such as Uganda, Pakistan, Tanzania and more. While students were on their way home, Academy teachers underwent extensive professional development within five days in relation to online learning.

One week later, on 23 March 2020, the online ‘doors’ to the Academy opened and all classes were fully transitioned online, ensuring learning was ongoing. Although the shift was challenging for both teachers and students at first, the transition has become much smoother for all.   

“Students’ lives have been turned upside down by the coronavirus pandemic,” said Head of Expressive Arts department Stella Wangu. …

The economies of the East African region have for a long time recorded impressive growths among other African peers. They have been expanding at an average rate of 6.3 percent, with that of Rwanda expected to lead at eight percent from 7.8 percent. This growth, however, is facing one of its biggest challenges with the emergence of the Novel Coronavirus, scientifically referred to as COVID-19 as well as local challenges including political processes and the recent locust invasion. These effects are likely to cut down on any projected growth and gains made over the years. Kenya, the largest economy in the region, will most likely be hit hard with the halting of international flights and tourism. The bourse has already recorded a bear run, similar to other markets in the region. Burundi and Tanzania are preparing for elections, Kenya is seeking constitutional changes and Uganda is looking for ways to …