South African Airways has received a further $346 million from the Department of Public Enterprises, which the struggling airline will use to complete severance payments that form part of its rescue plan. In October, the South African government approved a $650 million bailout for the struggling airline in its mid-term budget. The state-owned airline has…
Nigeria’s annual inflation rate jumped 0.72% to 16.47% in January from the previous month, marking a 17th monthly increase as the effects of the COVID-19 pandemic weighed on the index. Africa’s most populous country is facing its worst economic recession in 37 years, triggered by a COVID-19 pandemic-induced crash in global crude oil prices that…
Compounded by crises in the north with the fighting in Tigray and a simmering land dispute with its western neighbor which threatens to spill over into a full blown war, Ethiopia’s president Sahle-Work Zewde took a much-needed break from mitigating multiple conflicts to visit another Eastern African in a bid to improve ties with regional…