Browsing: COVID-19

The novel coronavirus (COVID-19) is creating chaos all over the globe, taking lives, unevenly infecting a large number of people over space and time, and also affecting markets performance. Despite, these scenarios, African nations are keeping up the fight in curbing the virus impacts.

The continent’s central banks are trying to cushion their respective nation’s economies against the impact of the COVID-19 pandemic.

According to information from Bloomberg, as many central banks in the region of more than 1.2 billion target inflation and have to prop up volatile currencies, they have also used non-traditional policy tools, to cut interest rates to salvage economic growth and encourage more lending to consumers and businesses.

The pandemic which has infected more than 1 million people and killed over 69,000 people worldwide is hurting fragile African economies so bad.

According to a study conducted by African Union, the previously projected Gross Domestic Product (GDP) …

African nations (via their ministers) have agreed to call a debt relief support from bilateral, multilateral and commercial partners with the support of the multilateral and bilateral financial institutions such as the International Monetary Fund (IMF), the World Bank Group, and European Union (EU), amid coronavirus outbreak (COVID-19) United Nations Economic Commission for Africa (UNECA) revealed in a statement.

The agreement was germinated from the second virtual meeting on Tuesday, hosted by Vera Songwe, Executive Secretary of the Economic Commission for Africa, and co-chaired by Ministers Tito Mboweni of South Africa and Ken Ofori-Atta of Ghana.

The meeting stressed the need to take possible actions to downplay and bring the spread of COVID-19 under control in the short term.

“The call for debt relief, it was emphasized, should be for all of Africa and should be undertaken in a coordinated and collaborative way. They called for a special purpose vehicle …

Tanzania, East Africa’s populous nation has confirmed today April 1 another coronavirus (COVID-19) case, totalling the national case at number 20, the Ministry of Health revealed.

According to the ministry, the patients is a 42-year-old female American national, who was in contact with an infected person, who also travelled abroad before returning to Tanzania.

So far, the patients are spread out in three regions, and according to the Minister of Health Ummy Mwalimu statement to the public, two patients have already recovered, and one died yesterday March 31.

The highly contagious pandemic made its way to Tanzania a month ago via a female Tanzanian national who returned from Belgium, since then—Tanzania has been on its toes rolling in several measures to curb the spread of the COVID-19.

Also, coronavirus cases have reached over 5,500 and almost more than 170 death have been reported across the continent.

Currently, Tanzania has closed-down …

Both small and big companies are at risk as the number of attacks will increase during this lock down period. All over the world businesses are urged to embrace online engagement with their customers, and sale of their products.Banking security experts are advising that businesses of all sizes need a plan to defend cybersecurity threats. The following are tips on how to protect data, assets and transactions with any business—small or big, and in any sector.

Cyber-attacks may be launched over the internet or rely on someone with physical access to a company’s premises by using: emails that contain malicious hyperlinks and attachments with messages that often look like they came from a colleague and are commonly referred to as Phishing attempts, or legitimate-looking websites that are set up to capture users’ login credentials, or social engineering to convince unsuspecting employees to reveal confidential information or credentials, or mobile apps …

If there is anything that the spread of the COVID-19 (Coronavirus) pandemic across the world leading to partial or total lockdown in several countries has taught us, is that we need to be prepared financially for any eventualities today more than ever.

Barely two months ago, people across the world were planning and budgeting for the New Year without the realization that soon many would be losing employment or experiencing a cut of their normal income.

The global pandemic has brought the world to a standstill. This is an unprecedented time of trying to manage our lives behind closed doors, reaching out to those who need our help, and somehow remain afloat with the minimal income we have left.

Although the pandemic is just in its early stages in East Africa and most African countries, we should be learning from other countries like China and Italy. If we adapt to …

On Tuesday 31 March 2020 Tanzania recorded its first COVID-19 death of a 49-year-old Tanzanian man, which happened in the nation’s commercial city, Dar es Salaam.

According to information from the Ministry of Health, the deceased man was also suffering from other health complications apart from the pandemic.

READ”COVID-19 in Africa: How African currencies feel the pandemic pinch

Tanzania which has 19 cases of the coronavirus, is taking various measures in containing the coronavirus.

“As of today, March 31, 2020, we have confirmed a total of 19 COVID-19 cases whereby out of the number, one has died and one has been treated and discharged from the hospital,” Minister of Health, Ummy Mwalimu said in a statement on Tuesday.

The pandemic has already hurt various crucial economic operations in Tanzania, including hotels, aviation and tourism activities.

On the meanwhile, the Tanzanian government is containing the outbreak rather different than its …

If there is anything that the spread of the COVID-19 (Coronavirus) pandemic across the world leading to partial or total lockdown in several countries has taught us, is that we need to be prepared financially for any eventualities today more than ever.

Barely two months ago, people across the world were planning and budgeting for the New Year without the realization that soon many would be losing employment or experiencing a cut of their normal income.

The global pandemic has brought the world to a standstill. This is an unprecedented time of trying to manage our lives behind closed doors, reaching out to those who need our help, and somehow remain afloat with the minimal income we have left.

Although the pandemic is just in its early stages in East Africa and most African countries, we should be learning from other countries like China and Italy. If we adapt to …

Over 46 African nations are feeling the coronavirus pandemic pinch, and much more scenarios are unveiled as days go.

Mandatory curfews are some of the measures being rolled out in East Africa (Kenya, and Uganda), Tanzania’s with hotels running low on customers and even considering a  possible shut-down. The tourism industry is slowing down too.

However, the COVID-19 could also cause serious trouble, within economic lines for Africa, as the world economy hangs in the balance.

According to information from Bloomberg, the fear of the pandemic could trigger investors to exit markets.

Few emerging-market currencies have been spared as the spread of the coronavirus causes investors to dump riskier assets and the dollar to surge. But Africa has been hit harder than most — and the signs are there’s worse to come.

Kenya’s shilling, Angola’s kwanza and Zambia’s kwacha have all fallen to record lows this month. Ghana’s cedi and …

The novel coronavirus (COVID-19) is in East Africa, and has now penetrated Tanzania whereby until yesterday 12 (4 foreign national and 8 Tanzanian citizens) cases were reported.

Hence—unequivocally the Tanzanian government stated that almost 20 samples tested were negative, including the first patient.

According to the World Health Organization, the pandemic which has spread in more than 170 countries, taken more than 14,000 lives, and infected over 300,000 people.

Hence, this pandemic brought Tanzania President John Magufuli before the public, and addressed the nation of more than 55 million, to stay strong and be resilience through the outbreak.

The outbreak has also taken a toll on Tanzania’s economic landscape, hurting trade operations particularly between Tanzania and China of which their bilateral trade volumes stand at almost $3 billion.

Air Tanzania Company Limited has also seen a revenue loss of about 2 to 3 per cent, and just last week, the …