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IFC to invest in the Africa Conservation and Communities Tourism Fund (ACCT Fund)
IFC invests in the Africa Conservation and Communities Tourism Fund to Support Ecotourism, Conservation in Sub-Saharan Africa
[Column] Givemore T. Chiwanza: How has the Russia-Ukraine crisis affected Africa?
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
[Interview] Dr. Mohamed El Sahili, CEO, Medland Hospital, Zambia
Dr. Mohamed El Sahili is the Chief Executive Officer of Medland Hospital, Zambia. As a medical doctor and entrepreneur, Dr. Sahili also serves on the board of key economic international organizations like the African Business Roundtable, the American Chamber of Commerce, Zambia, Olympic Youth Development Center and the Africa CEO Forum.
[Interview] Dr. Mohamed El Sahili, PDG, Hôpital Medland, Zambie
Le Dr Mohamed El Sahili est le directeur général de l'hôpital Medland, en Zambie. En tant que médecin et entrepreneur, le Dr Sahili siège également au conseil d'administration d'organisations économiques internationales clés, telles que l'African Business Roundtable et l'American Chamber of Commerce.
[Column] Cameron Beveridge: The new business balancing act has leaders walking a tightrope
Business leaders are engaged in a delicate balancing act as radical workforce changes, new customer demands, external pressures and the impact of the pandemic collide to create a multitude of new challenges and opportunities.
[Nigeria Business Week] Andrea Ayemoba: A call for exports diversification for higher market gains
Agriculturists and entrepreneurs are working harder than ever to address food sufficiency, but energy rests firmly on the government’s shoulders.
[Column] Linda Weaver: Bias-driven travel bans are an ineffective response to variants
While most countries have lifted the restrictions, the ripple effects will continue to be felt for months to come.
[Nigeria Business Week] Andrea Ayemoba: Nigeria sets course to unify industry benefits, lead Africa's 5G
Following a turbulent year of stock market fluctuations, restrictions related to an ongoing pandemic and varying economic instabilities, predictions on Nigeria’s performance last year ranged from inferior to mediocre to excellent.
South Africa’s office and work-from-home plans have changed for 2022
In June 2021, an estimated 50% of the South African workforce was working from home full-time, with the Covid-19 pandemic fundamentally changing views on where and how people work best.
[Column[Sammar Essmat: How COVID-19 is pushing MENA companies to embrace flex work
Women in the MENA region have long found it difficult to balance the demands of home, family, and work a major reason why only a quarter of Egyptian women work outside the home.
[Rwanda] 550,000 Rwandans to fall into extreme poverty this year – World Bank
Rwanda’s economy has fallen into its first recession due to the COVID-19 (coronavirus) pandemic and could potentially compromise years of gains in poverty reduction, the World Bank said Monday.
"Until Africans get the Covid vaccinations they need, the whole world will suffer", said Paul Kagame
Ensuring equitable access to vaccines globally during a pandemic is not only a moral issue, but an economic imperative to protect the wellbeing of people everywhere. But when will Africa get the protection it needs? If all lives are equal, why isn’t access to vaccines?
[Rwanda] "Until Africans get the Covid vaccinations they need, the whole world will suffer", Paul Kagame
Ensuring equitable access to vaccines globally during a pandemic is not only a moral issue, but an economic imperative to protect the wellbeing of people everywhere. But when will Africa get the protection it needs? If all lives are equal, why isn’t access to vaccines?
COVID-19 ‘extremely unlikely’ to have come from a lab, experts say
The virus that causes COVID-19 probably jumped from animals to humans and is “extremely unlikely” to have come from a laboratory, the head of an international team investigating the origins of the disease said on Tuesday.
South African entrepreneurs who made the best of the COVID-19 pandemic
On the evening of 23 March, South Africans gathered around their television sets to listen to arguably the most important announcement of this year. At the time, the nation was on edge.
[Africa Business Panel] 6 percent of African Business Professionals expect their companies not to survive the Covid-19 Crisis
About 2/3 of the African companies (62%) say they are struggling but will survive. Almost a third of companies (29%) say they are doing well and the near future is looking good
[Survey] Threats and Opportunities for African Business in 2020 and beyond
As a valued member of Africa Business Communities, we invite you to participate in this a survey to better understand the impact of COVID19 on the current economy in general and within specific industries, but also look at the near future
[Column] Piergiuseppe Fortunato: How COVID-19 is changing global value chains
The COVID-19 crisis has amplified profound fault lines in the functioning of global value chains (GVCs) and exposed the fragility of a model characterized by high interdependencies between leading firms and suppliers located across several continents.
[Column] Charles Lufumpa: Rebuilding Africa and strengthening its resilience against future economic shocks
After demonstrating its resilience during the Ebola outbreak and the global financial crisis, Africa is once again facing a severe test of its strength and agility because of the coronavirus pandemic.
Protecting trade in Nigeria, how DFIs are responding to COVID-19
With the COVID-19 pandemic continuing to devastate economies around the world, Africa is set to experience its first recession since the 1990s, threatening to undo two decades of growth and development.
[Column] Phyllis Wakiaga: Tailor-made solutions to ensure SMEs survival amidst COVID-19
For many small businesses who are navigating these difficult times, they will testify to the fact they keep being bombarded with the word, ‘Adaptation’.
Why South Africa’s coronavirus death rate is lower than predicted
Before the pandemic, when tourists flocked to Cape Town, they often ignored Khayelitsha township.
[Column] Siyabonga Mbanjwa: Delivering sustainable energy across Africa in a more accessible and reliable way
The global Coronavirus pandemic has disrupted the operating environment for both the public and private sectors as a result of the unprecedented lockdowns and restrictions put in place by countries to curb infections.
[Column] Caleb Onyango: Managing our wellbeing in these trying times
Psychologically, the Covid-19 pandemic has impacted our emotions, our thought processes and ultimately our behavior.
[Column] Phyllis Wakiaga: Kenya economic recovery is anchored on saving lives and securing livelihoods
The International Labour Organization (ILO) highlights that protection of workers and their families from the risk of infection should be a top priority for all economies at this time.
[Column] Sachen Gudka: Ease liquidity for Kenya businesses to attain a strong rebound
Up to 81 per cent of local manufacturers have stated that they are hopeful that they will hold steady through the pandemic and continue to play their role in creating wealth and productive jobs for all citizens.
[Column] Paulo de Matos: What manufacturers can do now to maintain continuity in the new normal
Manufacturers and distributors are operating in intensely pressured times. Stats SA reported that manufacturing output contracted for the ninth consecutive month in February of 2020.
[Interview] James Hunt, Vice President, Creative & Marketing Lead, CNN International Commercial
CNN International Commercial Vice President and Marketing Lead James Hunt discusses strategies the company has put in place while working with brands to remobilize as they adapt to the new world order.
How COVID-19 is impacting international payments
As governments across the globe impose movement restrictions to prevent the spread of COVID-19, data from WorldRemit shows this is changing the way people send and receive money abroad.
[Column] [Column] Phyllis Wakiaga: Home-grown solutions are key for sustainable development
Necessity is the mother of all inventions. We are witnessing an increase in innovations as the world races to develop a vaccine to treat COVID-19.
[Column] Nelson Maina: Kenya should support first-line COVID 19 teams
As Kenya doubles efforts to contain the spread of Corona virus that is increasingly shutting down the world, personnel in the medical and security dockets are arguably our first lines of defence.
[Column] Victor Oladokun: Africa's lockdown nightmare
Across Africa, affordable housing is in acute short supply. It is one of the reasons why lockdowns and social distancing during the COVID-19 pandemic are unimaginable and unsustainable.
Most commodity prices to drop in 2020 as COVID-19 depresses demand, disrupts supply, World Bank
The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook.
Transport sector hit hard but has key role in COVID-19 management, COMESA
Road and air transport have borne the brunt of the Coronavirus impact as countries put stringent measures to stop the spread of the pandemic.
Economic impact of COVID-19 on African cities likely to be acute through a sharp decline in productivity, jobs and revenues, ECA
As part of its analysis to inform COVID-19 policy responses, the ECA is calling for adequate consideration of the vulnerability of city economies.
[Column] Shabir Ahmed: Mining sector to fast track automation amid Covid-19
Mining companies have been affected by COVID-19 outbreaks, and global restrictions to encourage social distancing have meant that mining projects have either slowed or been put on hold until further notice.
[Corona Stats] 6 April: Positive news from almost all severely affected countries
Encouraging news regarding the corona crisis is coming from almost all of the hard-hit countries. In Italy, at the height of the crisis, 15 days ago, 6557 new corona infections were registered, which was 4316 yesterday
COVID-19 affirms urgency for trade facilitation reforms in Angola, UNCTAD
The coronavirus (COVID-19) pandemic’s blow to global oil prices has re-emphasized the need for Angola to wean its economy off volatile fuel exports.
ITFC and ISFD ink $150 million partnership to support least developed member countries
The International Islamic Trade Finance Corporation (ITFC) and the Islamic Solidarity Fund for Development (ISFD), both members of the Islamic Development Bank (IsDB) Group, have announced the signing of the Trade Finance Support Program for the least developed member countries (LDMCs) affected by the COVID-19 and the food security crises.
Gavi published the plan of action to support the development of sustainable vaccine manufacturing in Africa
Developed in technical consultation with African Union Commission (AUC), Africa CDC, G7 and a range of partners, plan aims to outline ways in which Gavi and other stakeholders could help realize the AU’s 2040 vision
[Column] Renan Ozyerli: Equitable access to healthcare should be a bigger priority as the world emerges from COVID-19
The World Health Organization (WHO) has said the world is at “the beginning of the end” of the COVID-19 pandemic with the numbers of deaths and cases slowing considerably.
Gavi, Moderna update COVAX supply agreement; agree on access to variant-containing vaccines for lower-income countries
Two parties establish framework for lower-income countries to access up to 100 million doses of variant-containing vaccine (VCV) through COVAX.
KfW supports COVID vaccination campaigns and logistics in West and East Africa
The financing agreement was signed between KfW and UNICEF for EUR 25 million to improve vaccine logistics in the West African countries, KfW is also supporting vaccinations against COVID-19 and other infectious diseases in East Africa.
Equity Bank avails $6 billion fund to boost business recovery across Africa
Equity Bank Rwanda Plc has called on businesses to take advantage of the $6 billion fund available to support recovery and post Covid-19 resilience.
[Rwanda] Giving citizens digital access to their health data is a first step toward Person-Centered Health
The Governments of Rwanda and Senegal began issuing vaccination certificates for COVID-19 using the SMART Health Card standard.
African Development Bank approves more than $1 billion for emergency food production plan
The African Development Bank Group’s Board of Directors has approved 24, fast-track programs to help Africa mitigate rising food prices and inflation caused by Russia’s war in Ukraine, climate change and the Covid-19 pandemic.
Amref and AstraZeneca launch mobile clinics to support last mile COVID-19 vaccination efforts in Kenya
Amref Health Africa and AstraZeneca, in collaboration with the Ministry of Health (MoH) in Kenya, are launching a fleet of Mobile Vaccination Clinics (MVCs) in an effort to protect last-mile communities from the pandemic.
Les mesures indispensables afin que l'essor de la santé et des soins virtuels déclenché par la pandémie COVID-19 en Afrique
Un grand nombre de restrictions jugées inutiles en matière de santé et de soins virtuels ont été balayées par la pandémie, et la plupart des gens ont adopté ce nouveau monde de soins virtuels.
Critical actions needed to ensure COVID-19-driven surge in virtual and care drives health access and equity
Many unnecessary restrictions on virtual health and care were swept away by the pandemic, and most people have embraced this new world of virtual care, according to a new report from a Broadband Commission for Sustainable Development working group.
[Forum] How has the COVID-19 pandemic affected business operations in Nigeria?
Africa Business Communities has spoken with several founders, CEOs and startups in diverse industries in Nigeria about how the global pandemic has affected their business operations. For some, it was a game changer, for others it had little to no effect.
[Senegal] European Investment Bank provides €75 million for new vaccine manufacturing
The Institut Pasteur de Dakar and the European Investment Bank (EIB) announced the conclusion of a €75 million financing agreement to support the construction of the new MADIBA vaccine manufacturing facility.
MTN Group resumes 21 Days of Y’ello Care campaign
MTN Group is pleased to announce the resumption of its Y’ello Care employee volunteering programme after two years of Covid-19.
Hemex Health announces breakthrough measurement capability for Gazelle Diagnostic Device
Hemex Health announced a significant enhancement to their Gazelle™ Hb Variant test, which allows for more precise measurements of Hb F, also known as fetal hemoglobin.
World Bank approves $400m program to support Morocco’s social protection response and reform
The World Bank approved a $400 million program to support Morocco’ social protection system, as part of the kingdom’s sweeping reforms to strengthen its social safety nets.
IFC loans $10m to I&M Bank Rwanda to support SMEs, economic activity and Jobs
IFC announced a loan to I&M Bank Rwanda, to help the bank increase lending to potentially thousands of Small and Medium Sized enterprises in Rwanda, many of which are facing COVID-19-related liquidity challenges.
The OPEC Fund, AFC sign $50m loan agreement to support post-COVID-19 African infrastructure
The OPEC Fund for International Development (the OPEC Fund) and Africa Finance Corporation (AFC) have signed a $50 million loan agreement to help finance and build infrastructure needed for Africa’s post-COVID recovery.
Afreximbank disburses $200 million to Zenith Bank Nigeria to cushion impact of COVID-19
African Export-Import Bank (Afreximbank) has disbursed $200 million to Zenith Bank Plc Nigeria under its Pandemic Trade Impact Mitigation Facility (PATIMFA).
DFC approves $3.6 billion of new investments in global development
The U.S. International Development Finance Corporation (DFC) approved investments this quarter totaling more than $2.5 billion across nine projects that will advance development in Africa, Latin America, and emerging markets across the globe.
CDC announces $50m revolving trade finance loan facility with Absa bank
CDC Group, the UK’s development finance institution and impact investor, has announced a new two-year revolving $50 million trade finance loan facility to Absa bank.
World Bank appoints Keith Hansen as New Country Director for Kenya, Rwanda, Somalia and Uganda
The World Bank has appointed Mr. Keith Hansen as the new Country Director for Kenya, Rwanda, Somalia, and Uganda effective September 8, 2020.
World Bank approves $86m to improve access to financial services for MSMEs in Malawi
The World Bank approved an $86 million credit for the Malawi government to increase access to financial services and promote the entrepreneurship and capabilities of micro, small, and medium enterprises (MSMEs) in Malawi.
World Bank provides $75m to mitigate COVID-19 impacts, support recovery in Madagascar
The World Bank approved $75 million development policy operation for Madagascar to mitigate the impact of the COVID-19 crisis.
[South Africa] FNB and RMB heed the call to improve food security in Mpumalanga
RMB and FNB have donated R3 million from the FirstRand SPIRE fund to assist FoodForward South Africa, FFSA, set up operations in the Mpumalanga province.
[Kenya] NSE reports notable Profits after Tax of over 100% amid challenging economic conditions
The Nairobi Securities Exchange (NSE) announced its results for the six months ended June 30, 2020 recording a strong performance on the back of a disconcerting macro-economic environment in Kenya and other global markets.
EIB releases €100m in emergency funding to help Morocco combat COVID-19
The Moroccan Minister of Economy, Finance and Administration Reform and the Vice-President of the EIB announced the release of €100 million to finance the Kingdom of Morocco’s most urgent requirements as it deals with the COVID-19 pandemic.
EIB, Banque Misr partner to support private businesses and SMEs in Egypt
The European Investment Bank (EIB) is providing Banque Misr with a €425 million credit line to support Egyptian private small and medium-sized enterprises.
Nordic Development Fund extends $8.8m grant to African Water Facility
The Nordic Development Fund (NDF) approved $8.8 million in grant funding to the African Water Facility (AWF) to bolster investments in COVID-19 recovery and preparation for investment of water supply.
[Column] Kgomotso Ramoenyane: The pros and cons of implementing a mandatory vaccination policy for SMEs
Several smaller companies followed suit, marking the beginning of a “trial-and-error” period that has highlighted both pros and cons for small and medium enterprises (SMEs) and businesses across the board.
UNICEF signs supply agreement with Pfizer for oral COVID-19 treatment in Africa
UNICEF has signed a supply agreement with Pfizer for the procurement of up to 4 million treatment courses of the new oral antiviral medicine nirmatrelvir/ritonavir in 2022.
Egypt's central bank raises interest rates, cites Ukraine and coronovirus pandemic
Egypt's Central Bank raised its key interest rate Monday for the first time since 2017, citing inflationary pressures triggered by the coronavirus pandemic and Russia's war in Ukraine, which hiked oil prices to new records.
RECOVERY Trial launches in Ghana
The world’s largest clinical trial investigating treatments for COVID-19 RECOVERY Tria has now launched in Ghana.
Kenya receives a $750 million boost from World Bank to support economic transformation post-pandemic
The World Bank has approved a $750 million Development Policy Operation (DPO) that will help strengthen Kenya's fiscal sustainability through reforms that contribute to greater transparency and the fight against corruption.
AfDB grant to improve governance of natural resource outflows in six African countries
Six African countries will soon benefit from a grant from the Transitional Support Facility (TSF) of the African Development Fund, through a project designed to strengthen national capacity for governing natural resource outflows in Africa.
Biovac and Development Partners collaborate to advance long-term health security across Africa
To support South Africa and the African continent increase vaccine manufacturing capacity and reduce reliance on imports, a consortium of nine development and finance institutions have announced a partnership with Biovac in South Africa to support Biovac's vaccine manufacturing expansion.
World Bank injects GH¢28m into Ghana's SME operations
The World Bank has injected GH¢28 million grants into the operations of 400 small and medium enterprises (SMEs) to support their recovery from the COVID-19 pandemic.
Six African countries to receive initial transfer of mRNA vaccine technology
Six African countries – Egypt, Senegal, Kenya, South Africa, Tunisia and Nigeria – have emerged as the first African recipients of mRNA technology under the global mRNA technology transfer hub initiative.
Partenariat entre l’AFD et Afreximbank dans la lutte contre les effets de la COVID-19
Dans le cadre du Sommet UE-UA qui se tient à Bruxelles, Rémy Rioux, Directeur général de l’AFD, et Benedict Oramah, Président d’Afreximbank, scellent un partenariat stratégique entre l’AFD et Afreximbank.
Agence Française de Développement and Afreximbank partner to support the fight against the Covid-19 pandemic
As part of the EU-AU Summit held in Brussels, Director General of AFD, and Professor Benedict Oramah, President of Afreximbank, sealed a strategic partnership between AFD and Afreximbank.
[Column] Cheikh Oumar Seydi: Africa’s health security requires strong African regulators
The Covid-19 pandemic has taught us many lessons about health security – not the least that, when health resources are scarce, African countries cannot necessarily rely on imports to protect their people.
How fraudsters used spam and phishing in 2021, Kaspersky
In 2021, cyber-fraudsters involved in the creation and distribution of spam and phishing tried to lure users using topics focused on lucrative investments, online streaming of global movie or TV premieres and themes related to restrictions, requirements and benefits of the ongoing pandemic
Afreximbank signs EUR250 million loan agreement with KfW
Afreximbank is delighted to announce the signing of a loan agreement of an amount of EUR 250 million with the German Development Bank KfW, acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
Siemens South Africa partners with Aspen to enhance vaccine production for Africa
In a joint project, Siemens South Africa and Aspen have entered into an agreement to enable the use of digital technologies to enhance the efficiency of COVID vaccine production on the African continent, through Aspen’s manufacturing facility.
Parsyl partners with Africa CDC to distribute 10,000 COVID-19 vaccine monitoring devices
Parsyl has announced that it will partner with the Africa Centres for Disease Control and Prevention to make available 10,000 vaccine monitoring devices to African Union member states in support of Covid-19 vaccine distribution on the continent.
[Column] Nael Dabbagh: The regional healthcare sector must continue to be resilient to overcome new challenges
The last two years have had a profound impact on economies, education, and healthcare systems around the world. As a result, countries, businesses, and individuals have been forced to adapt.
Cyber perils outrank Covid-19 and broken supply chains as top Africa and Middle East business risk, Allianz Risk Barometer 2022
Cyber perils are the biggest concern for companies in Africa and Middle East, South Africa, Nigeria and around the world in 2022, according to the Allianz Risk Barometer.
Pfizer and BioNTech sign new global collaboration agreement to develop first mRNA-based shingles vaccine
Pfizer Inc. and BioNTech SE announced a new research, development and commercialization collaboration to develop a potential first mRNA-based vaccine for the prevention of shingles.
Pfizer and BioNTech receive U.S. FDA authorization of COVID-19 vaccine booster for individuals aged from 12
Pfizer Inc. and BioNTech SE announced that the U.S. Food and Drug Administration (FDA) has expanded the Emergency Use Authorization (EUA) of a booster dose of the Pfizer-BioNTech COVID-19 vaccine to include individuals 12 years of age and older.
Aviation sees better performance this year than in 2020 - Air Tanzania MD
The year 2021 was more presentable to the aviation industry compared to the preceding one - thus reviving hopes for a speedier recovery.
Bank of Uganda ties country's economic performance to Covid crisis
According to the BOU Monetary Policy Report, higher global growth is good for Uganda since her export markets will demand more of her commodities and services.
[Column] Cameron Beveridge: How South African organisations are using tech to succeed despite disruptions
South African small, medium and large enterprises are using technology at an unprecedented scale to help manage the uncertainty and disruption caused by the pandemic and broader changes in the business and consumer landscape.
[Algérie] La digitalisation se met au service de la reprise économique
La nouvelle édition de l’Ericsson Day Algérie a réuni les acteurs de l’écosystème numérique, venus partager leurs avis et recommandations concernant la rapide mutation du marché des télécoms qui s’est faite à la vitesse pandémique.
Omicron se propage, mais le nombre de cas graves reste peu élevé en Afrique du Sud
Le variant Omicron touche de plus en plus de pays en Afrique et le nombre hebdomadaire de cas de COVID-19 augmenté de 93 % sur le continent.
[Nigeria] IoT-Fueled Gricd partners with NPHCDA to deliver 4.2 million doses of Moderna COVID-19 vaccines
Gricd, a cold chain technology company has teamed up with Nigeria’s National Primary Health Care Development Agency (NPHCDA) to deliver 4.2 million doses of the Moderna COVID-19
L’UNICEF lance un appel de fonds d’urgence pour 9,4 milliards de dollars en faveur des enfants touchés par la COVID-19
L’UNICEF a lancé un appel de fonds d’urgence pour la somme record de 9,4 milliards afin d’atteindre plus de 327 millions de personnes, dont 177 millions d’enfants, touchées par les crises humanitaires et la pandémie de COVID-19 dans le monde entier.
Pfizer and BioNTech provide update on Omicron Variant
Pfizer Inc. and BioNTech SE announced results from an initial laboratory study demonstrating that serum antibodies induced by the Pfizer-BioNTech COVID-19 Vaccine neutralize the SARS-CoV-2 Omicron variant after three doses.
[Column] Claudio Muruzabal: Making profitability sustainable and sustainability profitable
The businesses that are going to stand out over the next decade will be those who see market opportunities in social responsibility, and develop business models, products and services that have societal elements and sustainable practices baked in, as it were.
MTN plans vaccine mandate, calls vaccine inequity and Africa travel bans unjust
As part of our commitment to protect the health and safety of our people and workplaces, as well as contribute towards the rate of COVID-19 vaccinations across our markets, MTN Group will be implementing a mandatory vaccination policy for staff from January 2022.
L’OMS se tient aux côtés des pays africains et lance un appel pour que les frontières restent ouvertes
Alors qu’un nombre croissant de pays imposent des interdictions de vols aux pays d’Afrique australe en raison des inquiétudes suscitées par le nouveau variant Omicron, l’Organisation mondiale de la Santé (OMS) appelle les pays à agir conformément à la science et au Règlement sanitaire international (2005).
Digital identity is a crucial business requirement post-Covid, says iiDENTIFii
It is well-known that the Covid-pandemic has forced change in many industries and driven digitalisation at a pace faster than anyone could have anticipated, but it has happened at the cost of robust security and digital authentication.
Mastercard Foundation and Africa CDC’s delivers first tranche of over 15 million vaccines
The Mastercard Foundation and Africa CDC jointly announced that 15.2 million vaccines purchased under the Saving Lives and Livelihoods initiative are currently being distributed across Africa.