The Week That Was – 29th May 2020

1 Jun 2020

Here is a recap of the major activities that happened in Africa in the last 7 days. You can see the video here

Most African countries continued relaxing lockdown restrictions.  The decision to reduce the COVID19 lockdown restrictions is primarily driven by the desire to get economies working again.

North Africa

  • Turkey has announced that it will start with oil exploration in the eastern Mediterranean of the coast of Libya within the next 3-4 months. 

West Africa

  • Nigeria’s government has requested its agriculture sector to improve production yields. This is a direct result of COVID19 and the Nigerian government aims to reduce its reliance on food imports.
  • Schools in Ivory Coast has opened last Monday.  It is the first West African country to do so after a 2-month lockdown.
  • Liberia has signed a $640 million Grant Agreement with USAID.  The agreement runs from 2019 to 2024 and aims to foster self-reliance by spurring the private sector-led economic expansion.

Central Africa

  • Angola has announced that it started renegotiating debt payments with main creditors.  The country has about half a billion dollars in debt falling due this year.

East Africa

  • Trouble might be brewing between Ethiopia, Sudan, and Egypt.  Last week saw border skirmishes between Sudan and Ethiopia.  This renewed tension is a result of Ethiopia’s announcement that it plans to start filling the new Renaissance Dam.  An agreement between the downstream Nile users has not been reached as yet.
  • Rwanda announced that it would require $11 billion to implement its climate action plan in accordance with the Paris agreement on climate change.
  • Kenya announced that from the 1st of June all freight destined to Uganda, South Sudan, and Rwanda will be switched to rail. This is in an attempt to reduce the bottlenecks at border posts as a result of COVID19 testing and restrictions.
  • RMB confirmed the oil major Totals’ $15 billion funding for the Mozambique LNG project.
  • Zimbabwe’s banks were removed from the US sanctions list.

Southern Africa

  • Namibia has further reduced COVID19 restrictions and South Africa will reduce its restrictions to level 3 from June 1st.
  • Moeketsi Mojoro is Lesotho’s new Prime Minister.  This follows the resignation of the embattled veteran politician Tom Thabane earlier in May.

Interested in knowing more, get in touch.

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