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African economies hard hit by coronavirus pandemic

Abidjan, Ivory Coast | AFP | Sub-Saharan Africa has not been as badly hit by the coronavirus pandemic as some other parts of the world, but the economy is being pummelled. Here’s a look at the main issues. – Perfect storm recession – For the first time in 25 years sub-Saharan …

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Oil prices, virus, instability put Algeria on edge

Algiers, Algeria | AFP |  Algeria faces economic and social turmoil if crude prices continue to collapse, experts have warned, with the oil-dependent country reeling from a year of popular protests, political turmoil and now, coronavirus. The North African country is an example of how hydrocarbon economies are likely to face …

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African community targeted in China virus crackdown

Beijing, China | AFP | Africans in southern China’s largest city say they have become targets of suspicion and subjected to forced evictions, arbitrary quarantines and mass coronavirus testing as the country steps up its fight against imported infections. China says it has largely curbed its COVID-19 outbreak but a recent …

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Pandemic hits aid work in sub-Saharan Africa

Libreville, Gabon | AFP |  Desperately needed aid for millions of people across sub-Saharan Africa is under threat as the deadly coronavirus pandemic sweeps a continent already facing a volley of crises. In some cases social distancing measures and border closures are preventing workers from distributing aid. In others, funding is …

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Burundi shrugs off pandemic, citing ‘God’s protection’

Bujumbura, Burundi | AFP |  In Burundi, the delayed arrival of coronavirus was attributed to “God’s protection”. Now that the country has three cases, authorities again see divine intervention at work and little reason to interrupt everyday life. The ruling party has sought to reassure Burundians they need not worry about …

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Afreximbank records US$315million in net profit

Kampala, Uganda | Isaac Khisa | The African Export-Import Bank (Afreximbank) has released its audited financial statements for the year ended 31 December 2019, showing strong and consistent growth, with total comprehensive income of $324.2 million. The results, which reflected a net income of $313.3 million, 14.3 percent increase over the 2018 …

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