LAUNCH: THE STATE OF AFRICA 2020 CONFERENCE
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LAUNCH: THE STATE OF AFRICA 2020 CONFERENCE

ByEditorial

Mansa Media in partnership with Afrochampions Initiative and ADS Group Launch “The State of Africa 2020”, a virtual conference of rich debates about the future of Africa post-COVID-19. Mansa media, the leading source for African business news, in partnership with Afrochampions, the pan-African business leadership network focused on regional integration and economic emancipation, and Africa…

Nigeria’s first artisanal gold sold to government for $3.2m
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Nigeria’s first artisanal gold sold to government for $3.2m

ByEditorial

The first ever artisanally mined and processed gold in Nigeria has been sold to the Central Bank of Nigeria for $3.2m. The government said the gold would now be added to the country’s reserve. The bar of gold weighing 12.5kg was said to have been refined according to LBMA standards. It was presented at the…

Nigeria made $206bn from oil in five years – OPEC
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Nigeria made $206bn from oil in five years – OPEC

ByEditorial

Nigeria made $206.06bn from crude oil in the last five years, newly released figures from the Organisation of Petroleum Exporting Countries has shown. According to the 2020 Annual Statistical Bulletin of the body, as Africa’s largest oil producer, Nigeria’s revenue from crude oil was fifth after Saudi Arabia ($202.37bn), Iraq ($80.03bn), Kuwait ($52.43bn) and the…

Limited hours a big challenge for business in Nigeria
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Limited hours a big challenge for business in Nigeria

ByEditorial

To limit the economic fallout of the COVID-19 pandemic in Nigeria’s main commercial city, businesses are now allowed to operate on alternate days with limited hours, but this is creating a whole new challenge for business owners in a city where commute alone takes hours due to traffic.

SAA, African aviation’s first Covid-19 casualty?
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SAA, African aviation’s first Covid-19 casualty?

ByEditorial

The global aviation industry is facing a battering as the deadly coronavirus pandemic continues wreak havoc with the world economy. With so many countries around the world in lockdown, planes have been grounded, leisure and business travel has been halted, leaving the aviation sector teetering on the brink. According to the International Air Transport Association, airlines are…

OPEC still has an important role to play in Global Oil Market
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OPEC still has an important role to play in Global Oil Market

ByEditorial

(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…

Several African countries to benefit from IMF’s immediate debt relief
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Several African countries to benefit from IMF’s immediate debt relief

ByEditorial

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…

25 Million Jobs at Risk with Airline Shutdown
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25 Million Jobs at Risk with Airline Shutdown

ByEditorial

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…

Ethiopia restricts Entry of Foreign Firms in the financial sector
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Ethiopia restricts Entry of Foreign Firms in the financial sector

ByEditorial

Ethiopia has issued a new directive that allows diaspora and local enterprises engage in provision of mobile money services. The directive has however prohibited the entry of foreign companies in the sector- a roadblock for companies like M-PESA that have been planning to enter into the Ethiopian market this year.  According to the directive, the…

South Africa’s Covid-19 and junk status conundrum
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South Africa’s Covid-19 and junk status conundrum

ByEditorial

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…

Equatorial Guinea Grants Relief to Oil & Gas Services Companies
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Equatorial Guinea Grants Relief to Oil & Gas Services Companies

ByEditorial

The country takes action to support its services industry and engages on an industry-wide dialogue to study other measures for upstream operators and ongoing midstream projects MALABO, Equatorial Guinea, March 23, 2020/ — The Ministry of Mines and Hydrocarbons (MMH) of the Republic of Equatorial Guinea decided on the waiving of its fees for services…

African central Banks forced to become innovative.
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African central Banks forced to become innovative.

ByEditorial

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…

African Airlines amass losses due to the Coronavirus pandemic.
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African Airlines amass losses due to the Coronavirus pandemic.

ByEditorial

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…

WTO Preaches Open Trade
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WTO Preaches Open Trade

ByEditorial

January 18, 2019 The World Trade Organization (WTO), the International Monetary Fund, World Bank have called for greater trade integration in a bid to revive the multilateral trading system and keep pace with the volatile global economy. In a joint report titled “Reinvigorating Trade and Inclusive Growth” published by the last week, the trio stressed…

Telecoms Report: Safaricom vulnerable in strength
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Telecoms Report: Safaricom vulnerable in strength

ByEditorial

Changes in Safaricom’s ownership seem to have freed the company up for more rapid expansion into other markets. In May, UK telecoms giant Vodafone transferred a 35% stake in Safaricom to its South African offshoot Vodacom, in return for more equity in Vodacom valued at KSh260bn ($2.48bn). This left it with just a 5% stake in the Kenyan company,…