This is a weekly update by ABiQ on major events that took place in the last 7 days in Africa. You can view the video here

North Africa

  • Egypt announced that it will provide $ 6 billion in loan guarantees to businesses.
  • In Libya global players expressed a desire to deescalate fighting and work towards a cease-fire.

 West Africa

  • Total has decided not to proceed with the acquisition of Occidental’s assets in Ghana. 

Central Africa

  • Angola’s national air carrier expects to make $270 million in losses as a result of COVID19

 East Africa

  • Kenya received more than $1.2 billion in aid from the Word Bank towards fighting COVID19 and locusts.
  • President Kenyatta of Kenya also announced a $500 million stimulus package for its battered economy.
  • Eritrea has been cleared of COVID19 after its last infected patient was released.
  • Burundi held its first elections in 15 years.
  • Tanzania has indicated that its parliament will dissolve on June 19th.
  • Ethiopia has opened its telecom sector to private investors. Currently there are only the single state-owned telecoms operator.
  • Somalia will move forward to hold elections for the first time in 51 years.

Southern Africa

  • South Africa will downgrade the lockdown to grade 3 with schools set to open in the first week of June.

 For more details on the above, get in touch

 

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