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Op-Ed: Victor Oladokun on why Africa urgently needs an Ubuntu Plan

“Africa urgently needs a globally coordinated Ubuntu Plan in response to COVID-19, a fiscal stimulus that recognises our shared and connected humanity, as we find ourselves in the midst of an unprecedented crisis,” writes Victor Oladokun.

AfDB President bids farewell to Victor Oladokun, Director of Communication

“Victor joined the Bank two and half years ago, and has provided exceptional leadership on communication. He has led an outstanding team,” writes African Development Bank President, Dr Akinwumi Adesina.

Sanlam appoints ex-Old Mutual boss as new CEO

Sanlam today announced that the Sanlam Board has approved new appointments in three of its most senior positions in the diversified financial services group.

Zimbabweans enter coronavirus lockdown amid severe economic crisis

Zimbabwe began a 21-day nationwide lockdown on Monday, following neighbour South Africa in implementing some of the world’s toughest anti-coronavirus measures likely to hurt an economy already suffering hyperinflation and food shortages.

COVID-19 Masks yes, small business sorry no.

“We are absolutely award of this issue and the Solidarity Fund is consulting with the Department of Health here and will carry out the utmost diligence in making the purchase,” says Nicola Galombik is executive director of Yellowwoods, the investment holding company, who is working with the fund.

South Africa’s rand crashes to its lowest ever after Moody’s pulls the plug

South Africa’s rand plunged to an all-time low on Monday, falling below 18.00 to a dollar after ratings firm Moody’s cut the country’s last investment grade credit rating, adding to mounting panic about the coronavirus outbreak.

FNB confirms measures to help customers impacted by COVID-19

“In recent weeks, the South African Government, business community, philanthropists and society at large have shown remarkable unity in a joint effort to protect our country against the impact of COVID-19,” writes FNB Chief Executive Officer, Jacques Celliers.

Standard Bank extends instalment relief measures to personal account customers

Standard Bank has announced a second wave of relief to help its customer base navigate financial commitments as COVID-19 continues to impact the livelihood of many individuals across the country.

Bank charges reduced for social grant beneficiaries during COVID-19 lockdown

Banks will significantly reduce their charges for South African Social Security Agency (SASSA) grant beneficiaries, to increase the number of pay-points they can use to collect their grants, which will help maintain social distancing in queues at bank branches and retailers, for the duration of the Covid-19 pandemic lockdown.

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Telkom, Samsung team up with South African government to track those with COVID-19

South Africa’s Telkom, Samsung and the government have teamed up to develop a track and trace database to identify the whereabouts of people who may have contracted coronavirus.

Is the S&P 500 likelier to hit 2,900 or 1,800 by the end of 2020? | Capital Connection

Stephane Monier of Lombard Odier Private Bank outlines the two scenarios which could play out for the markets, and gives his potential targets for the S&P 500 under each one.

Expecting deep recession followed by sharp recovery: Goldman Sachs strategist | Squawk Box Europe

Silvia Ardagna, managing director of the investment strategy group at Goldman Sachs Private Wealth Management, shares her outlook for the economy amid the coronavirus crisis.

Expect ‘very significant topline decline’ for luxury brands: Analyst | Squawk Box Europe

Luca Solca, senior research analyst for global luxury goods at Bernstein, outlines how the coronavirus crisis is impacting the luxury sector.

Little chance that an OPEC+ deal will save the oil market from virus slump | Capital Connection

Victor Shum of IHS Markit says an agreement between Saudi Arabia and Russia looks unlikely and any production cut is too little too late.