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World Bank moving forward on first $1.7 bln in pandemic aid projects

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.

Alexander Forbes cancels $56 mln plan to buy out shareholder

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.

The sun has set on Sol Kerzner, the Sun king

Sol Kerzner| 1935–2020Statement from the Kerzner family: Solomon (Sol) Kerzner, one of the world’s most innovative hoteliers, founder of the Southern Sun...

Uganda to seek $190 mln from World Bank to cushion coronavirus blow

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.

MTN drops prices on monthly data bundles

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.

Panic buying forces South African supermarkets to ration food

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.

SARB delivers 100 bps rate cut to fight coronavirus fallout

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.

Nigeria eyes $4.9 bln budget cut amid coronavirus

Roughly 90% of the Nigerian government’s foreign exchange earnings come from sales of oil, prices of which have taken a beating amid lower Chinese demand and a price war between Saudi Arabia and Russia.

South Africa’s Massmart to close non-performing stores

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.

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New tool may be able to predict severe COVID-19 cases, NYU professor says | Squawk Box Europe

Professor Anasse Bari of NYU's Courant Institute of Mathematical Sciences outlines how machine learning and artificial intelligence could help in the fight against the coronavirus crisis.

Most EU countries will face a very deep recession: former Greek finance minister | Squawk Box Europe

Former Greek Finance Minister George Papaconstantinou discusses the economic shock being caused by the coronavirus pandemic.

SA coffee shop feels the wrath of the COVID-19 lockdown

As South Africa is currently in a national lockdown due to the Covid-19 outbreak one of the many issues that businesses face is the decrease in customers and supply disruptions; one such company facing the wrath of the lockdown is a coffee shop called Bean There, the owner Jonathan Robinson is now looking at big South Africa retailers such as Pick ‘n Pay, Spar & Takealot to keep afloat. Jonathan joins CNBC Africa for more.

Excellent time for strong companies to make acquisitions, analyst says | Squawk Box Europe

Randeep Somel, associate fund manager at M&G Investments, discusses the economy and M&A activity amid the coronavirus pandemic.

China’s electric vehicles demand has been surprisingly healthy: Xpeng Motors | Street Signs

Xpeng Motors' vice chairman and president, Brian Gu noted that Chinese demand for electric vehicles has not fallen as the coronavirus crisis eases in the country. He adds that Xpeng Motors currently has no plans to launch sales in the United States a