Browsing: Covid-19 pandemic

Africa received loans worth $4.6 billion from China last year, an increase from what economies across the continent received in…

The United Nations (UN) has called for major reforms for two institutions considered key players in the new world order. Antonio Guterres, the UN secretary-general, is pushing for major changes in the IMF and the World Bank.

According to Guterres, the International Monetary Fund has profited the rich nations at the expense of the developing ones. The UN secretary-general describes the response by IMF and the World Bank towards the COVID-19 pandemic as a “glaring failure” that left most developing nations significantly indebted.

Côte d’Ivoire’s economy remains on a favourable trajectory. The economy needs bolstering to expedite the structural change of its economy as envisioned by the new 2030 plan. To achieve this, the nation needs to raise its investments in new sectors with considerable potential for wealth generation and improvement in quality of life. These sectors would enable the inclusion and realisation of benefits for women and the most disadvantaged populations in society, especially those residing in the most isolated rural areas.

Namibia has made progress on structural changes to foster economic diversification and boost productivity. Improving the business environment, promoting access to capital, improving governance, and decreasing skills mismatches are crucial for stimulating growth and achieving long-term debt sustainability.

The aviation industry in Kenya has recovered from the COVID-19 pandemic that led to the halting of operations as planes were grounded to curb the spread of the virus.

Data by IATA revealed that global airlines suffered cumulative losses of almost $190 billion (KSh 22.5 trillion) between 2020 and 2022.

In Kenya, local airlines were not spared, but the resumption of flights provided a ray of hope.

List of private airlines in Kenya and their owners.

Since the beginning of the Russia-Ukraine crisis, fertilizer prices have risen by 21 per cent.

It was noted that “the recovery of Africa has been impeded by greater inflation and tighter global financial conditions as well as rising interest rates,”

To counter external shocks, such as the Ukraine crisis, she urged public and private sector partnerships to enhance intra-African agri-food, industry, and service trade. She also urged the continent’s recovery from Covid-19 to get back on track.

When asked if Africa needs a second Marshall Plan, Keita said that Africa already has an effective one, in the AfCFTA, that may help it prepare for unpredictable times.

The World Bank released the country’s 18th Economic update in the first week of this month.

According to the institution, the change was majorly impacted by improvement in road and bridge building, the acquisition of additional aircraft for the continued revival of Uganda Airlines, and large classified investments.

Uganda has in the recent past heavily deployed and channelled its national cake towards improving its shambled infrastructure especially the road, railway, water and air transport systems.

Anglo American is a leading global mining company, with a world-class portfolio of mining and processing operations and undeveloped resources, with more than 95,000 people working for it around the world, in 15 countries. This company on the 29th of July announced its intention to disburse an additional US$2 billion to its shareholders through what it described as an on-market irrevocable and non-discretionary share buyback programme of $1 billion together with a special dividend of $0.80 per ordinary share, equal to $1 billion. All in all, the company intends to return at least US$4 billion in cash to its shareholders when what the company describes as its base dividend of US$4.1 billion is considered. 

Anglo American will repurchase up to 204.3 million shares in terms of the buy-back programme that started August 12 and ending no later than 14 February 2022. The US$2.1 billion ordinary dividends is being paid out of an interim attributable profit of $5.2bn. Compared to $471m in interim profit in 2020, that is a staggering year-on-year improvement of just over 1000%. 

The Covid-19 pandemic continues to rage. African countries have so far recorded fewer cases than most other continents. However, a…

The Nigerian economy may see a dip into recession, announced by the World Bank, in 2020, the worst the African country…