The week that was July 17th, 2020

20 Jul 2020

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

Central Africa

  • The Angolan government and the International Fund for Agricultural Development (IFAD) signed a 26.2 million Euros financing agreement to implement a project to improve the resilience of small producers’ projects.
  • It was announced that Angola’s Sovereign Fund recorded profits for 2019 to the amount of $234 million.

Eastern Africa

  • Zimbabwe terminated the top executives of the country’s five biggest state hospitals. The health services board said this was part of a wider restructuring plan to improve healthcare services in the country.
  • After talks with Egypt and Sudan stalled, it seems Ethiopia has started to fill the Renaissance dam.  This is a contentious issue for the region for which a solution must be found.
  • Last week saw fuel prices increase with double digits.
  • After a 3-month grounding, Kenyan Airways resumed local flights.  The Transport secretary expects the resumption of local flights will revive the tourism sector.
  • More Cuban Doctors Sent to Kenya to support the fight against COVID-19.
  • The Ugandan government set aside $4.4 million for a Water Project to connect Dokolo town to safe and clean piped water.

Northern Africa

  • Algeria is speeding up financial reform with the aim to save the government $20bn by the end of 2020.
  • Algeria’s state-owned airline, Air Algerie will accumulate a loss of $272 million in revenue during the current financial year.
  • On Monday, the port city of Tangiers in Morocco announced a return to lockdown measures to isolate a new outbreak of COVID-19.
  • The Moroccan government plans a package for the state carrier Royal Air Maroc to the value of $624 million in aid.
  • Tunisia raised the 2020 estimated budget deficit to 7% of GDP.
  • On July 15th, Tunisia’s Prime Minister resigned due to strained relations with the biggest party in parliament.
  • Carlyle Group and a consortium backed by Cairn Energy are among bidders for Shell’s onshore oil and gas assets in Egypt.

Southern Africa

  • Air Botswana will resume flights.
  • The European Union donated 2.4 million euros as the Eswatini government stumbled to feed hundreds of thousands of people in desperate need of food.

Western Africa

  • OPEC+ received confirmation from Nigeria’s oil minister that his country will meet its compliance with OPEC+ oil cuts.
  • The Nigerian government announced that all airports in Nigeria will reopen within a week.
  • More than six hundred people in The Gambia’s hotel industry is at risk of losing their jobs as a result of COVID-19.
  • Vodafone in Ghana is investing in an extensive rollout of fiber optic cable infrastructure.
  • The IFC agreed to a loan of $12 million for a steel plant in Ghana.  This plant will help to create jobs and skills development in the country.
  • Australia’s FAR Limited is selling its 15 percent stake in Senegals $4.2 billion Sangomar oil and gas project. On Thursday, July 16th it reported that it has received a good level of interest in the sale.
  • Turkey’s Karpowership signed a 5-year power deal with Sierra Leone to provide electricity to the state’s power utility.  Karpowership, part of the Karadeniz Energy Group already supplies 80% of the country’s power supply. It is providing ships configured to use diesel and LNG to generate electricity whilst anchored offshore.
  • The IFC, as part of the World Bank Group, has invested 25 million euros in NSIA to help finance businesses in Ivory Coast during the pandemic.

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