Zambia’s economy to shrink by 3%, finance minister says
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Zambia’s economy to shrink by 3%, finance minister says

Zambia’s Finance Minister Bwalya Ng’andu projects the country’s economy will contract by at least 3% in 2020, as manufacturing, retail and wholesale trade, tourism and travel industry post negative growth rates. The copper producing nation became Africa’s first pandemic-era sovereign country to debt default last month, after it failed to pay a $42.5 million coupon…

400 Nigerian students missing after gunmen attack school
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400 Nigerian students missing after gunmen attack school

400 Nigerian students are missing after armed gunmen attacked a secondary school in the country’s northwestern Katsina state, according to the police. Katsina State police spokesman Gambo Isah said, “The Government Science Secondary School in Kankara was attacked Friday night by a large group of bandits who shot with AK-47 rifles. Police engaged the attackers…

Morocco to issue COVID-19 vaccines for free
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Morocco to issue COVID-19 vaccines for free

The Kingdom of Morocco will issue out COVID-19 vaccines for free to all citizens, following a decree by the country’s ruler King Mohammed VI. The North African country is among a few in the continent that have purchased or made plans to buy COVID-19 vaccines. Prime Minister Saad Dine El Otmani told reporters last month…

Zambia turns to the IMF for support in dealing with debt crisis
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Zambia turns to the IMF for support in dealing with debt crisis

The International Monetary Fund (IMF) has confirmed Zambia formally requested assistance to navigate a debt crisis. Zambia became the first pandemic-era sovereign debt default in the continent last month, after it failed to pay a $42.5 million coupon on one of its Eurobonds. The government had earlier indicated it would seek help from the IMF…

World Bank urges Nigeria to make more naira reforms to get $1.5 billion loan
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World Bank urges Nigeria to make more naira reforms to get $1.5 billion loan

The World Bank has urged Nigeria to strengthen reforms of its currency – the naira – before it can approve a $1.5 billion loan, its country director said on Thursday. Africa’s largest economy is badly in need of the financial support to survive its worst economic recession in 33 years, largely attributed to a drop…

Western Sahara to lose statehood in US-brokered Morocco, Israel normalization deal
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Western Sahara to lose statehood in US-brokered Morocco, Israel normalization deal

For 45 years, they have been stateless. And now U.S. President Donald Trump says they should never have a state in the future. Late on Thursday, news broke out that Morocco had agreed to normalize ties with Israel, a deal that many termed “historic.” And yes it is. For many, this is a rare moment…

Ethiopian, Kenyan leaders launch cross-border infrastructure projects to boost trade
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Ethiopian, Kenyan leaders launch cross-border infrastructure projects to boost trade

Kenya’s President Uhuru Kenyatta and Ethiopia’s Prime Minister Abiy Ahmed opened a cross-border highway and a one-stop border post (OSBP) that will boost trade ties between both Eastern African countries. For Abiy, the event provided a respite as he shifted focus away from the war against the country’s Tigray community, which the United Nations has…

South Africa’s auditor general recovers $228 million of fraudulent jobless claims
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South Africa’s auditor general recovers $228 million of fraudulent jobless claims

South Africa’s auditor general has announced recovery of nearly $228 million of irregularly paid COVID-19 jobless claims in an ongoing investigation into corruption linked to relief funds. Earlier in the year, a special jobless grant administered by the government’s Unemployment Insurance Fund (UIF) called TERS payments was introduced to provide between 38% and 60% of…

Ghana President Nana Akufu-Addo wins re-election as five killed in election violence
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Ghana President Nana Akufu-Addo wins re-election as five killed in election violence

Ghana’s President Nana Akufo-Addo will serve another term in office after winning a tight race against his predecessor and old rival John Mahama, an election that has sparked chaos which have killed five people since Monday. Results from the electoral commission indicate that Akufo-Addo has secured 51.59% of the vote, though Mahama’s camp said they…

African airlines passenger traffic dropped 78.6% in October as continent recorded best performance worldwide
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African airlines passenger traffic dropped 78.6% in October as continent recorded best performance worldwide

African airlines’ passenger traffic fell 78.6% in October, the International Airport Transport Association (IATA) announced, despite that the continent recorded the best performance among all regions worldwide. The passenger traffic figures were an improvement from an 84.9% drop in September, as many African countries lifted lockdowns and re-opened borders to international travelers. Capacity contracted 67.5%…

Zimbabwe’s Russian-backed platinum project sells 4.4% stake
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Zimbabwe’s Russian-backed platinum project sells 4.4% stake

A Russian-backed project – Great Dyke Investments – that is planning to build Zimbabwe’s biggest platinum mine has sold a 4.4% stake to Fossil Mines, as the pandemic disrupted fundraising for the venture. Fossil is owned by Zimbabwe’s Obey Chimuka and the firm will invest $30 million in the Darwendale project through a combination of…

DR Congo President Tshisekdi to form new governing majority without pro-Kabila party
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DR Congo President Tshisekdi to form new governing majority without pro-Kabila party

Democratic Republic of Congo President Felix Tshisekedi will form a new governing majority as tension fosters between his ruling party and political allies of his predecessor, Joseph Kabila. The political tensions have left the country in what Tshisekedi refers to as a state of “persistent crisis.” Tsishekedi’s new move was announced in a nationwide broadcast…

South Africa announces $66 million relief program for subsistence farmers
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South Africa announces $66 million relief program for subsistence farmers

South Africa’s government has announced a $66 million relief program for subsistence farmers, as it aims to revive the struggling agriculture industry hurt by COVID-19 pandemic disruptions. Agriculture, Land Reform & Rural Development Minister Thoko Didiza told reporters on Monday the program will provide successful applicants with as much as $593.1 each to help them…

Salif Keita lifted the lives of Malians through his music. Now he wants to uplift their lives through politics.
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Salif Keita lifted the lives of Malians through his music. Now he wants to uplift their lives through politics.

His voice is one of the most recognizable by Mali’s 20 million people. It’s loved as well. And Salif Keita is hoping that this music appeal enables him to transition seamlessly into politics. Keita will serve as a member of the country’s transitional council, a quasi-body that will act as the country’s parliament after the…

South African Airways receives $98 million grant, but still unable to use it
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South African Airways receives $98 million grant, but still unable to use it

South Africa’s national airline – South Africa Airways (SAA) – has received a boost after the government transferred $98 million to its administrators, though the money cannot be used yet. The airline’s management decried that the conditions imposed by the Department of Public Enterprises (DPE) on how the money should be spent contravened labor and…

Nana or Mahama? Ghanaians choose between present and past in Africa’s “dullest” election
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Nana or Mahama? Ghanaians choose between present and past in Africa’s “dullest” election

When former President Jerry Rawlings died exactly one month ago, the world paid its respect to a leader whom they described as “visionary, statesman and democratic.” For such praise to be showered upon a person who took power through a military coup (something that the African Union is at odds with through its policy of…

South Africa’s business confidence improves in fourth quarter
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South Africa’s business confidence improves in fourth quarter

A new survey shows that South Africa’s business confidence rose in the fourth quarter of the year, as easing of COVID-19 lockdowns in the past few months led to a resurgence in economic activity. The Rand Merchant Bank (RMB) business confidence index (BCI), compiled by the Bureau for Economic Research jumped to 40 points in…

COVID-19 vaccine presents Africa relief but accessibility conundrum lurks
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COVID-19 vaccine presents Africa relief but accessibility conundrum lurks

Just 24 hours after the United Kingdom became the first western country to approve a COVID-19 vaccine for its citizenry, experts in a webinar titled “Access to COVID-19 Vaccines for Africa” warned of the impending challenges that Africa faces when it will carry out a similar move. Organized by ADS Group in partnership with Africa…

DR Congo signs cobalt deal with Trafigura
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DR Congo signs cobalt deal with Trafigura

The Democratic Republic of the Congo’s government has signed a deal with Trafigura to supply battery metal cobalt in return for help in improving mining conditions at informal mining sites. As detailed in the pact, Trafigura has agreed to finance the creation of up to six controlled zones where informal miners would work to dig…

Nissan assembles new regional business unit for Africa
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Nissan assembles new regional business unit for Africa

Japanese car maker Nissan will set up a new regional business unit for Africa in line with its Nissan Next global strategy plan, aiming to boost manufacturing capacity and penetrate one of the world’s biggest undeveloped new car markets. The move marks a reorganization of the firm’s disparate operations on the continent, bringing them within…