The Week That Was, 22nd August 2020

24 Aug 2020

The Week That Was is a recap of major activities that happened in Africa in the last 7 days. You can view the video here

The World Food Programme (WFP) estimates that more than 250 million people will suffer from acute hunger by the end of the year as a result of the COVID-19 pandemic.

Central Africa

  • The World Health Organization announced that an Ebola outbreak in the western part of the Democratic Republic of the Congo has infected at least 100 people resulting in 43 deaths

Eastern Africa

  • The Ethiopian Premier has announced the redevelopment of 3 tourist sites
  • Ethiopia has launched the construction of two solar power projects on a public-private partnership (PPP) basis
  • The Kenya Nuclear Electricity Board (KNEB) has announced plans to build a 1 Giga Watt nuclear plant near Kipini in the Tana River county at an estimated cost of $5 billion
  • The final design will see a 4 Giga Watt plant developed on a build, operate and transfer (BOT) model and possibly financed on a PPP basis.
  • Kenya’s Nuclear Power and Energy Agency will act as the main developer of the project.
  • Five government-owned sugar refineries in Kenya will be leased by the Kenya Private Sector Alliance aimed at improving the competitiveness of the country’s sugar sector.
  • Kenya has signed agreements with Vietnam’s Hoa Phat Hung Yen Steel Limited to import rolled steel billets.
  • The Mozambique government plans to provide 10 million Mozambicans with access to power by 2024.
  • The South Sudan Central Bank has run out of foreign exchange reserves as oil revenues have declined.
  • Zambia’s central bank has cut its main lending rate to 8.0%
  • Zimbabwe’s central bank announced that it will keep its main lending rate at 35%

Northern Africa

  • The Algerian government has announced that it will allow its private sector to set up banks, air, and sea transport companies for passengers and goods in a bit to reduce government spending
  • The two rival governments in Libya has announced a ceasefire with immediate effect across the country
  • King Mohammed VI of Morocco said that the country could return to a complete lockdown as COVID-19 cases continue to rise
  • Sudan announced a tender to import fuel starting with September supplies and will be financed by the new fund created for the purchase and import of basic commodities

Southern Africa

  • South African banks have given voluntary relief to the value of $31billion on loans to individuals and companies during the COVID-19 pandemic
  • Impala Platinum (Implats) in South Africa announced a 300% increase in annual earnings based on growing metal prices and a weaker currency

Western Africa

  • MTN in the Ivory Coast expects revenue in 2020 to increase by up to 10%
  • A military coup took place in Mali and the top West African officials met with military leaders to negotiate a return to civilian rule
  • The Nigerian government announced earlier in the week that international flights in Nigeria will resume on August 29th
  • Despite financial constraints, the Nigerian Ministry of Finance expects the government to spend a record $33 billion during the 2021 financial year
  • Senegal’s port authorities announced that it plans to remove 2,700 tons of nitroglycerine.  The same chemical that caused the Beirut blast.

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