The Department of Mineral Resources and Energy yesterday met key stakeholders in the mining and energy industries to consolidate plans to deal with the spread of COVID-19.
South African power utility Eskom said on Wednesday that coal stocks at its power stations were healthy, with at least 20 days of supplies at all stations, before a nationwide lockdown over the coronavirus outbreak starting at midnight on Thursday.
Militant group Islamic State has claimed responsibility for an attack in northern Mozambique just south of the site of gas projects worth $60 billion being developed by the likes of Exxon Mobil and Total.
“SMMEs and the Informal Sector will be affected on a multifront, and the government continues to announce multiple interventions to alleviate the economic impact of COVID-19 against SMMEs and the Informal Sector,” reads the statement issued by the Ministry of Small Business Development.
Kenya’s government plans to seek help from the International Monetary Fund, pay pending bills to suppliers and quickly process company tax refunds to support the economy in the face of the coronavirus crisis, officials said.
The Nigerian president’s chief of staff has tested positive for coronavirus, a source with direct knowledge said.
Op-Ed: Living and working in self-isolation – Seeking the ‘Silver lining’ of the COVID-19 precautions
"In February I returned from a Singapore business trip. COVID-19 had not yet been declared a pandemic at this time, however in light of the global events unfolding I took the decision to self-isolate for the safety of my colleagues, friends, community and to help protect our country, which at that time had no confirmed cases," writes Neels Barendrecht.
South Africa’s rand rose against the dollar on Tuesday, boosted by the promise of unlimited dollar funding from the U.S. Federal Reserve, which helped sentiment globally, even as an impending 21-day lockdown threatened the local economy.
President Cyril Ramaphosa has implemented a nationwide lockdown from midnight, Thursday 26 March. The lockdown will last for 21 days.
Congo has imposed a two-day lockdown in one copper- and cobalt-producing province and shut down public markets in another after two people tested positive for the coronavirus on a flight to the capital of one of the provinces.
The World Bank’s executive board is expected to consider later this week the first fast-track funds to help Afghanistan and Ethiopia respond to the coronavirus pandemic, the Bank’s president said on Sunday.
South Africa’s Health Minister Zweli Mkhize said on Monday that the number of confirmed coronavirus cases had risen to 402, a jump of 128 since Sunday’s announcement that could worry public health experts concerned about the country’s readiness to deal with the epidemic.
Nigeria confirmed its first fatality from coronavirus, the Nigeria Centre for Disease Control said in a tweet on Monday.
South African financial services group Alexander Forbes said on Monday a deal to purchase 200.8 million of its own shares from shareholder Mercer Africa for just over 1 billion rand ($56.36 million) was cancelled due to the impact of coronavirus on markets.
After Parliament approved some changes to electoral legislation in line with the Court’s directive that presidential elections should henceforth be won by absolute majority rather than relative majority, Mr Mutharika used his veto power on Tuesday, March 17, and refused to ratify Parliament’s changes.
Scientists around the globe are racing to develop tests, treatments and vaccines to combat the COVID-19 disease.
Uganda will request the World Bank for a loan of $190 million to help cushion its economy from the impact of the coronavirus pandemic, its finance minister said.
South Africa’s MTN has agreed to reduce the cost of its monthly data bundles of 1 gigabyte (GB) and below by between 25% and 50% from April, following a finding that the country’s mobile data prices were the highest on the continent, the telecoms firm said on Friday.
There was no immediate claim of responsibility for the attack in the town of Tarkint, which is about 125 km (78 miles) north of the city of Gao. Mali’s army has repeatedly suffered heavy casualties from jihadist fighters active in the area with links to al Qaeda and Islamic State.
South African authorities announced on Thursday they would erect a fence along its border with Zimbabwe to prevent illegal immigrants from entering and spreading the coronavirus.
As the spread of the infection triggers panic buying across the world, South African retailers are saying they are working with their suppliers to ensure a consistent supply of products like meat and canned food, and medicine.
The South African Reserve Bank (SARB) cut its main lending rate by 100 basis points to 5.25% on Thursday in a unanimous decision, citing a dire local and global economic outlook due to the deepening impact of the coronavirus pandemic.
A growing number of African countries are announcing increasingly restrictive measures to try to halt the spread of the virus, which has infected more than 200,000 people globally and killed nearly 9,000. They have shut borders, closed schools and universities and barred large public gatherings.
South African retailer Massmart said on Thursday it had decided to close all of its non-performing stores, as cash-strapped consumers battle with high unemployment, modest wage increases and higher average fuel and utility prices.
Mauritius has confirmed its first three cases of coronavirus, its government said in a statement on Thursday.
At 12:54 GMT, the rand traded at 16.9800 per dollar, 2.41% weaker than its previous close, while stocks lost the majority of the gains clawed back since Monday, when the Johannesburg Stock Exchange (JSE) suffered its biggest ever daily fall.
The East African nation has four confirmed cases of the COVID-19 and the government has imposed measures aimed at reducing its spreads including banning public gatherings and closing schools indefinitely.
Applications for the Rupert family’s R1 billion small business fund, The Sukuma Relief Programme, which opened on Friday, have temporarily been suspended.
Technology group EOH narrowed its first half loss per share from continuing operations, while group revenue fell 14 per cent and costs rose. EOH CFO, Megan Pydigadu joins CNBC Africa for more.
R488 million – that’s how much the Green Outcomes Fund has set aside for fund managers to increase investment in green Small, Medium and Micro-sized Enterprises. To discuss the fund - the first of its kind, CNBC Africa is joined by Tine Fisker Henriksen: Innovative Finance Lead, UCT GSB Bertha Centre and Mark van Wyk: Head of Unlisted Investments, Mergence Investment Managers.
South Africa’s Reserve Bank has guided banks to put dividends and executive bonuses on hold to help reduce stress on the banking sector from fighting Covid19. For more on this recommendation as well as other directives to ensure the health of the sector, CNBC Africa is joined by Unathi Kamlana, Head of Policy Statistics and Industry Support at the Prudential Authority.
Investors are taking a keen interest in banking stocks today but the Industrial goods sector is facing a steep decline. Dare Fajimolu, Chief Research Officer at Blue Vertex joins CNBC Africa for a recap of today’s trade.