(By Sebastian Wagner) Scan Western news about OPEC from the last few years, and a common observation tends to appear: OPEC had a huge influence on the global oil market back in the day. Now, in the shale oil era, not so much. I would argue that OPEC can safely state that reports of its…
The Private sector-led Coalition Against COVID-19 (CACOVID) has ordered for 250,000 supplies for tests and another 150,000 extraction kits to fast-track molecular testing for the deadly coronavirus, noting that the reality of the situation at hand was such that efforts must be put together with no stone left unturned in dealing with the scourge. The…
Africa’s Aviation Industry is set to experience massive losses due to the ongoing Covid-19 pandemic. Mansa Media explores.
With the COVID-19 pandemic and economic slowdown threatening the lives and livelihoods of the world’s most vulnerable people, the UN’s International Fund for Agricultural Development (IFAD) today committed US$40 million, and launched an urgent appeal for additional funds, to support farmers and rural communities to continue growing and selling food. IFAD’s new multi-donor fund, the COVID-19Rural Poor…
With the city of Lagos under lock-down to contain the spread of Covid-19, Mansa Media explores the effect this will have on Nigeria’s economy.
Africa is the biggest winner from the International Monetary Fund’s first batch of debt relief as 19 countries from the continent will get access to grants in order to mitigate the impact of the coronavirus pandemic. This fell short of requests by other African countries to bilateral and multilateral lenders to give them a break…
South Africa is currently on a 21-day lockdown as it continues to battle the deadly Coronavirus. While the entire economy is battling to stay afloat, township businesses are particularly vulnerable. We went to Soweto, the largest township in the country to find out how enterprises in the area are coping.
It has been over a week since South Africa went into a 21-day lockdown to fight the spread of the deadly Coronavirus and the divide between the haves and the have nots could not be more clear. To curb the disease, health officials advocate social distancing, frequent hand washing and staying at home. For the…
The International Air Transport Association has released new analysis showing that some 25 million jobs are at risk of disappearing with plummeting demand for air travel amid the COVID-19 crisis. Globally, the livelihoods of some 65.5 million people are dependent on the aviation industry, including sectors such as travel and tourism. Among these are 2.7…
Less than a month ago, on March 9th, a Tweet from US President Donald Trump remarked, “Last year 37,000 Americans died from the common flu. Nothing is shut down, life and the economy go on…” Hubris? Ignorance? Call it what you will, one thing’s for sure. Less than one month later, New York looks like…
Ethiopian Airlines, Africa’s most profitable carrier, has suspended 60% of its passenger fleet in fear of the spread of the coronavirus. The Airlines which has been operating over 125 aircrafts with less than five years of age is also expected to delay its order of over 40 planes. While the measure is taken due to…
South Africa’s recession hit economy finds its self in a Covid-19 and junk status double whammy that will take years to get out of The current 21-day lockdown, aimed at reducing the virus will further hamper economic growth and over the weekend Finance Minister Tito Mboweni even mooted the idea of approaching the IMF and…
When it rains it pours, in describing South Africa’s current socio-economic predicament, never has a phrase been more apt. In fact, it’s not only pouring, but Africa’s most industrialised economy runs the risk of being swept away by a tsunami that will take years to recover from. The Covid-19 crisis coupled with a credit ratings…
The immediate effect of Covid-19 for the sector has been on the demand for crude oil, and on its prices African governments set to see decline in revenues; Exploration projects put on hold; Thousands of local jobs at risk if nothing is done. While the short-term effects of Covid-19 on world economies are already being…
As the world grapples with the fallout of Coronavirus and how to best manage the public health pandemic, eyes now turn to Central Banks and how they can help in containing the economic effects of the virus. Global central banks such as the US Federal Reserve, the European Central Bank, Chinese Central Bank among others…
While the coronavirus pandemic has suspended the 2019-20 NBA season, it has not lessened the league’s global impact and reach. Over the past week, 18 NBA and WNBA players created public service announcement videos to share important health and wellness information about ways to reduce the spread of the coronavirus. Those videos have generated more…
African Airlines have so far lost $40m since February due to Coronavirus. The International Air Transport Association (IATA) has warned that airlines globally stand to lose $29.3bn of revenue this year due to the coronavirus outbreak, of this Africa has so far lost $400m since February due to Coronavirus outbreak. The losses have come from…
The international air transport association (IATA) is appealing to governments in Africa to provide emergency support to airlines because air transport they say supports 6.2 million jobs. The aviation sector has been badly hit by the coronavirus pandemic leaving many airlines fighting for survival. Besides flight cancellations by passengers; several countries have imposed a complete…
In a state of the nation address to the nation, on 13th February 2020, President Cyril Ramaphosa delivered a candid and brutally honest message to the South African public. Echoing through the halls of the parliament in Cape Town, the nation knew covid-19 was in the nation but the President’s tone on the day gave…