West African Countries to Issue $1.4 Billion in COVID-19 Bonds
Members of the West African Monetary Union (UEMOA) have announced plans to issue $1.4 billion on the regional debt market in response to the COVID-19 crisis. UEMOA’s members are Benin, [...]
Angola's Oil Firm Begins Selling Assets
Angola's state oil company, Sonangol, has opened a public tender to sell its stakes in some private firms as part of the government's bid to privatize critical state assets, including [...]UNCTAD Urges for $1 Trillion Debt Write Off
The UNCTAD (United Nations Conference on Trade and Development) is urging for the writing off of close to $1 trillion debts owed by developing countries across the world. The move [...]RwandAir Slashes Salaries by Up to 65%
Rwanda's national airline, Rwandair, has announced plans to slash its employees' salaries by between 8% and 65% in the wake of the coronavirus that continues to take a toll on [...]South Africa to Begin Easing Lockdown in Phases
South Africa is set to begin phased easing of its lockdown as from 1st May 2020. Travel restrictions will be eased and some industries will be allowed to operate under [...]African startups raise $350 Million in Q1, 2020
Venture funding in the first quarter of the year for African startups reached $350 million according to data from Briter Bridges, a tech ecosystem data consultancy. South Africa, Nigeria, Kenya [...]
Tullow Oil Sells its Stake in Uganda to Total
Tullow Oil has agreed to sell its entire stake (33.3%) in the Lake Albert Development Project in Uganda (Blocks 1, 1A, 2 and 3A, and the proposed East African Crude [...]Air Mauritius Goes into Voluntary Administration
Air Mauritius has joined the list of airlines that have gone under voluntary administration in order to safeguard their business interests and those of stakeholders. In a communique, the airline's [...]AfDB Denies Funding Uganda's Pipeline Project
The African Development Bank(AfDB) has denied claims that it plans to provide funding to Uganda's oil pipeline project. These follows a protest letter by climate change crusaders and civil society [...]Sub-Sahara Africa Q1 Mergers Acquisitions Hit $4.8 Billion
A report by Refinitiv Sub Saharan Africa Investment Banking Review for Q1:2020 reveals that the value of Mergers and Acquisitions (MA) hit $4.8B. However, the value is 48% less than [...]
Moody's Expects a 2.5% Contraction in South Africa
Rating agency Moody's projects that the South African economy will contract by 2.5% in 2020. In a statement released last week, Moody's mainly blamed the nationwide shutdown for the economic [...]South Africa's fruit exports hit by COVID 19 lockdown
South Africa fresh produce exports to neighbouring countries has been severely affected lack of foreign buyers, traders have disclosed. South Africa is the only apple producer in the Sub-Sahara region [...]
