Hello IMF My Old Friend
Since March 16, the IMF has pledged $993 million and the World Bank $1.53 billion, according to EXX Africa, a risk consultancy. Nigeria, Africa’s biggest economy, is in talks
for $7 billion of support from the two lenders and the African Development Bank.
The World Bank has predicted the first recession
in sub-Saharan Africa in 25 years with an economic contraction of as much as 5.1% in 2020.
Who You Gonna Call?
Cyril Ramaphosa, President of South Africa acting in his role as Chair of the African Union (AU
that the AU will establish a task force to address problems related to Covid-19 on the continent.
African leaders have now agreed to establish regional coronavirus task forces in each of Africa’s five regions, which are Southern Africa, East Africa, West Africa, Central Africa and Northern Africa.
Come Rain or Hail!
Mr D Food,
a South African food delivery company, will now deliver medicine.
The startup has partnered with Medirite, a local pharmacy, to deliver to users who place their drug orders with the pharmacy. To have them delivered, users will have to request for delivery through the Mr D Food app quoting their Medirite order number.
WhatsApp targets Mothers
A Tale of Two Ethiopias
Ethiopia’s central bank has allowed non-financial institutions, including telecommunications companies, to offer mobile money services
. Ethio Telecom, the state-owned telecommunications company which dominates the sector, will now be able to move into financial services. This is one of many economic reforms which the Prime Minister, Abiy Ahmed, hopes would increase foreign investment into Ethiopia. But, notably, the country’s telecommunications market remains closed to foreign companies
- despite interest from MTN, Vodacom, and Orange
Another Shutdown in Ethiopia
SA Leads the Way
South Africa’s president Cyril Ramaphosa and ministers will take a 33% pay cut
for the next three months, and the money will be diverted towards social and economic relief measures to help the country weather the Covid-19 pandemic.