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<p>Rwanda&#8217;s leading bank, the Bank of Kigali has announced their contribution to the country&#8217;s relief efforts in a statement outlining concessions they&#8217;re making for vulnerable clients, and the fund of over $296,000 that the institution will be handing over to the Government to oversee distribution of cash and supplied to families affected by the Covid-19 crisis. Bank of Kigali CEO, Diane Karusisi joins CNBC Africa for more.</p>


How the Bank of Kigali is tackling the COVID-19 crisis

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<p>South Sudan is the latest African country to confirm its first case of COVID-19. The virus is having profound and serious impact on the global economy and has sent policymakers looking for ways to respond. Parek Maduot, Director of Economic Development &#038;Regional Integration, at the International Conference on the Great Lakes Region joins CNBC Africa for more.</p>


South Sudan confirms first case of COVID-19

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<p>Ethiopia has shut the door for foreign mobile phone companies like Safaricom, which had hoped to introduce its popular M-Pesa mobile money transfer platform in the market of 100 million people. According to the central bank, only allow locally-owned non-financial institutions would be allowed to offer mobile money services as it seeks to boost non-cash payments. Writer and Analyst Samuel Getachew joins CNBC Africa for more.</p>


Ethiopia closes door on M-Pesa

Ethiopia closes door on M-Pesa, only local companies allowed

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<p>Finnfund and Kasha began their negotiations in February of this year and as they were completed, the COVID-19 crisis had already begun to take full effect in the region. By chance, the partnership still made sense; but for a crisis that&#8217;s been ravaging the global economy, how will COVID-19 impact operations for an investment firm that focuses on financing private companies in developing countries? Investment Manager, Johanna Raehalme joins CNBC Africa for more.</p>


Here’s how this Finnish financier is helping African companies weather COVID-19 crisis

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<p>Women&#8217;s health focused e-Commerce company, Kasha, has received a $1 million investment from Finnish financier, FinnFund. Originally the investment was to be used to increase the company&#8217;s presence in Rwanda and Kenya, and to support its expansion into other African countries, but now with the COVID-19 crisis wreaking havoc worldwide, how will the company use this timely investment to contribute to relief? Kasha Founder and CEO, Joanna Bichsel joins CNBC Africa for more.</p>


COVID-19: Healthtech company Kasha receives $1mn investment to expand Africa footprint

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<p>The COVID-19 outbreak has disrupted supply chain and trade and thereby restricting access to food. Now experts have warned that there is a risk of food crisis if measures to protect the vulnerable and keep food supply chains live are not taken. Agricultural Economist and Food Systems expert Dr. Kirimi Sindi joins CNBC Africa for more.</p>


How Africa can avert a COVID-19 triggered food crisis


<p>By Victor Oladokun<br>April 3, 2020</p>



<p>Two days ago, I received an urgent plea from Massimo, a good friend and a highly respected Italian journalist based in Rome. His message was simple, urgent and straight to the point.</p>



<p><br>“Please Victor, pay attention” he urged. “This virus is not ‘just a flu’ as some still insist it is. Keep your distance. Wash your hands regularly. Don’t touch your face, eyes and mouth. Avoid crowded places where you cannot maintain the required social distance … pay attention my friend!”</p>



<p>Italy has given the rest of the world a tragic glimpse of what a lockdown needs to look, especially for countries that blink and fail to take action fast.<br>Italy’s experience is an urgent wake-up call about the importance of swift and decisive action.</p>



<p>Massimo knows first-hand what’s at stake. A few hours earlier, he had lost a professional colleague. His country, which has a social culture very similar to Africa’s, now has more than 13,000 deaths from COVID-19. It is the highest number of fatalities anywhere in the world. And the body count is still rising.</p>



<p>Africa has had some lead time to learn important lessons and proactively engage&nbsp; the World Health Organization, the Centers for Disease Control and Prevention, and other multilateral institutions, to hell put containment and preventative measures in place.</p>



<p>While others have wasted precious early moments, some countries and cities have been exemplars of what it takes to counter the spread of COVID-19. Rwanda for example, was the first country to take swift containment actions by placing portable sinks with running water in public spaces in its capital city and backing it up with a public awareness campaign. The Governor of Lagos State, Nigeria’s commercial hub, was also quick to convert a local stadium into an isolation and recovery area. Last week, Nigeria’s President Muhamadu Buhari placed the Federal Capital Territory of Abuja, Lagos and two neighbouring States, under lockdown for two weeks. Ultimately, Nigeria with a population of 180 million, will have to lock down for an even longer period of time.<br><br></p>



<p>Several other countries are following suit. But many others are woefully lagging behind. There is still an unwillingness to acknowledge that not taking decisive and painful short-term action, will have devastating long-term consequences.<br><br></p>



<p><strong>Exposing systemic weaknesses</strong></p>



<p>In spite of Africa’s best efforts, more must be done. The outlook for the continent is grim unless swift proactive actions are taken. For now, the pandemic is exposing deep cracks and systemic weaknesses across the board including a general lack of emergency preparedness, weak governance, and political, economic, social, cultural and health threats.</p>



<p>Millions of Africans live on less than two dollars a day. The implication is simple. A lack of access to money, food, water and electricity, means extended lockdowns will not be easy to implement. High levels of poverty and other communicable diseases were already impacting health and wellbeing long before the arrival of the coronavirus. A shortage of well-equipped and well-funded healthcare facilities is just the tip of the iceberg. Everything from doctors, clinics, hospitals, beds, medical supplies and intensive care units are in chronic short supply.</p>



<p>However, the Ebola outbreak in Sierra Leone and Liberia and collaborative action by African leaders and global partners, shows that where there is a will, there is always a way.</p>



<p>COVID-19 could not have arrived at a worse time for Africa. A crash in global commodity prices and a glut in the oil and gas markets has seen revenues drop precipitously. Further threats from nature, including the impact of devastating weather patterns such as Cyclone Idai and Henry and a recent plague of locusts, have to be managed alongside the pandemic.</p>



<p>Economically, the private sector and financial markets have taken a beating. The sudden reversal of fortunes is in stark contrast to a more positive projection in the African Development Bank’s 2020 African Economic Outlook when it was released in January 2020. The bandwidth of fiscal headroom is very thin. Commodity-sensitive economies are reeling under the effects of sudden price drops and the altered market reality of reduced global demand. Crude oil prices which now hover at $22 a barrel, have fallen more than 68% since January 2020. Non-oil commodity prices in natural gas and metals have also taken a nosedive.</p>



<p><strong>Acting Fast and Thinking Authentically</strong></p>



<p>Extended lockdowns carry inherent potential threats of their own and these must be managed. Along with underlying systemic weaknesses, the pandemic could unleash social unrest, the explosions of which will be as unprecedented as the virus itself.</p>



<p>We must therefore act fast and think authentically. Africa has its own particularities and to a certain extent, local contexts will require locally suited solutions, while drawing from global lessons. Recent videos of local communities forcefully resisting law enforcement and sanitation teams are already emerging. Such scenes are inevitable, for reasons of poverty, a lack of knowledge, and a chronic mistrust of authorities.</p>



<p>Concerns about informal settlements, some of the largest in the world, are a cause for worry, as is terrorism, economic and social exploitation and fragility.</p>



<p><strong>Psychological impacts of a pandemic</strong></p>



<p>Along with business and financial challenges, Africa’s leaders must prepare to address the social, physical and mental health fallouts from unavoidable lockdowns, social disruptions, the loss of basic human dignity, threats to civil life, and worse, the loss of life itself.</p>



<p>Several governments have grasped this and are stepping up, although time is not on their side. In many cases they have imposed limited two-week lockdowns in the first instance. The goal is not to alarm citizens. But this is unlikely to be sufficient as the virus apparently has its own agenda, pattern and timing! Realistically, beating COVID-19, is likely to require 6-10 weeks of total nationwide lockdowns, at a minimum.</p>



<p><br>To not do so, is to sell an illusion. To not do so, is to delay the inevitable. To not do so, is to raise false hopes. To not do so, is to be complicit and irresponsible in the spread of this most virulent and devastating virus. Worse, it will be suicidal, not just for countries but for the continent.</p>



<p><strong>Dealing with harsh realities</strong></p>



<p>We must therefore deal with hard reality, scientific facts, current simulations and real global lessons. Cosmetic approaches will not work when surgical precision is required. We must marshal every resource in order to save lives … every life and especially those already living on the margins of society. The underlying ethos of Ubuntu which says – “I am, because you are,” must be unleashed with full force to save lives. We have to be brutally honest, in order to be kind to ourselves!<br>The bottom line is that this is not a time for test runs.</p>



<p><strong>Urgent action is needed now, not tomorrow.</strong> This includes –</p>



<ol class="wp-block-list" type="1"><li>Making tough and seemingly unpopular leadership decisions that will ultimately save lives and society.</li><li>Using every communication platform possible to increase public awareness and promote containment and preventative measures.</li><li>Stepping up testing and reducing the wait time between tests and test results.</li><li>Mobilising the support of public influencers including traditional, religious, civil society, entertainment celebrities, women and youth leaders.</li><li>Introducing measures to secure food and medical supply channels, fixing basic food prices, and curbing hoarding and panic-buying.</li><li>Re-purposing public spaces including conference centres, stadiums and open spaces for use as isolation and recovery centres.</li><li>Leveraging every available advantage, by focusing on low hanging fruits. For example, regional economic communities could re-organise manufacturing and target the supply of critically needed medicines, equipment and medical supplies, as well as food packaging and processing.</li><li>Delaying debt obligations and buying time with global creditors through forbearance or payment postponements. Prior to the COVID-19 pandemic, an estimated one third of African countries were at risk of debt distress. Post-crisis, the numbers will be significantly higher.</li></ol>



<p>Pandemics and other global crises do not respect boundaries, titles or positions, creed, faith, gender, culture or hierarchy.</p>



<p>Abiy Ahmed, the Ethiopian Prime Minister and 2019 Nobel Peace Prize Laureate rightly tells us: “COVID-19 teaches us that we are all global citizens connected by a single virus that recognises none of our natural or man-made boundaries.”<br>We are in this together, regardless of where we call home. “<em>Umuntu ngumuntu ngabantu.</em>” I am because you are.</p>



<p>Dr. Victor Oladokun is the former Director of Communication and External Relations, African Development Bank Group.</p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


AFRICA LOCKS DOWN: No Time For Lockdowns

Op-Ed: Africa locks down: No time for test runs

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<p>In Rwanda, IMF has confirmed that it has approved $109.4 million in credit to help address the COVID-19 pandemic. Moreover, The City of Kigali and Nyarugenge District Authorities have shifted some food trading activities from city markets to Nyabugogo Bus Park to decongest marketplaces, and RwandAir is working on launching cargo flights in the coming days to respond to demand in movement of good. CNBC Africa is joined by Hudson Kuteesa, Journalist with The Newtimes for more.</p>


Rwanda gets $109mn from IMF for COVID-19 fight

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<p>The US Trade Department has started negotiations on a comprehensive trade agreement with Kenya in a move that will extend Kenya’s preferential access as the current trade arrangement under the Africa Growth and Opportunity Act (AGOA) closes in 5 years. If successful, the United States would forge its first bilateral trade accord with a sub-Saharan African country. Grant Harris CEO, Harris Partners LLC joins CNBC Africa for more.</p>


Kenya

Kenya, US start talks on trade agreement

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<p>In Kenya, Foreign investors withdrew about $106 million from the Nairobi Securities Exchange in February and March, leading to a sharp fall in the value of blue chip stocks like Safaricom and Equity Bank Group. Also, Moody&#8217;s has warned that measures put in place to shield Kenya’s banks from disruptions associated with the coronavirus outbreak, might not hold should the situation worsen. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.</p>


Tracking movements shaping the Kenyan market space amid COVID-19 crisis

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<p>A group of young Cameroonians has taken the COVID-19, bull by its horns. Andrew Tangang and his organisation decided to be at the forefront of the fight against the coronavirus by trying to develop solutions so as to protect their community.</p>


Here’s how young Cameroonians are banding together to fight COVID-19

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<p>On Tuesday of this week Uganda began their total lockdown for an initial period of 14 days, Analyst and Chief Strategist at Impact Communication Strategies, Ken Agutamba joins CNBC Africa for what the immediate impact of these measures have been on the lives and economy of the country.</p>


How the COVID-19 lockdown is impacting Uganda’s economy

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<p>Ethiopia has been coordinating the distribution of Jack Ma`s gift of essential supplies across the continent. The country is also looking to tap into the capability of traditional medicines to tackle COVID-19. Mikael Arage, Technology and Politico-economical Analyst joins CNBC Africa for more.</p>


Ethiopia using traditional medicine to fight COVID-19

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<p>International home sharing company, AirBnb has committed $250 million to hosts who lost income from to cancellations due the Covid-19 pandemic; now that Rwanda has just announced a 2 week extension on the national lockdown, what will the local hospitality sector do to cope with the halted activity? And how will it recover from bookings lost for months to come? Nsengiyumva Barakabuye, Chairman of the Rwanda Hospitality Association joins CNBC Africa for more.</p>


How will Rwanda’s hospitality sector recover from the COVID-19 lockdown?


<p>Rwanda has ordered a two week extension
of the current lockdown.</p>



<p>The decision to extend the current two week lockdown initially declared on March 21 to contain the spread of the coronavirus was reached during an extraordinary cabinet meeting held via video conference on Wednesday.</p>



<p>The following is an official statement on behalf of the Rwandan government:</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="724" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-1-724x1024.jpg" alt="" class="wp-image-366577" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-1-724x1024.jpg 724w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-1-212x300.jpg 212w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-1-696x984.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-1.jpg 764w" sizes="auto, (max-width: 724px) 100vw, 724px" /></figure>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="724" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-2-724x1024.jpg" alt="" class="wp-image-366578" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-2-724x1024.jpg 724w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-2-212x300.jpg 212w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-2-696x984.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Rwanda-2.jpg 764w" sizes="auto, (max-width: 724px) 100vw, 724px" /></figure>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


Rwanda extends COVID-19 lockdown by two weeks

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<p>The government of Burundi has blocked entry of cargo trucks from different East African Community countries transiting through Rwanda, a move that has gone against last week’s decision by a ministerial meeting from East African Community member states to facilitate continued free movement of goods even as they take measures to limit the spread of the coronavirus pandemic. Independent Analyst Ted Kaberuka joins CNBC Africa for more.</p>


Burundi closes border with Rwanda to curb COVID-19 spread

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<p>Online shopping has evolved rapidly on the continent and it has become critically important during this on-going COVID-19 crisis. In Kenya, E-commerce platform Gobeba has recorded a tripling of orders as more Kenyans shift to online shopping rather than visiting stores. Gobeba CEO, Peter Ndang&#8217;ui joins CNBC Africa for more.</p>


Rwanda

How the Bank of Kigali is tackling the COVID-19 crisis

South Sudan confirms first case of COVID-19

Ethiopia closes door on M-Pesa, only local companies allowed

Here’s how this Finnish financier is helping African companies weather COVID-19 crisis

COVID-19: Healthtech company Kasha receives $1mn investment to expand Africa footprint

How Africa can avert a COVID-19 triggered food crisis

Op-Ed: Africa locks down: No time for test runs

Rwanda gets $109mn from IMF for COVID-19 fight

Kenya, US start talks on trade agreement

Tracking movements shaping the Kenyan market space amid COVID-19 crisis

Here’s how young Cameroonians are banding together to fight COVID-19

How the COVID-19 lockdown is impacting Uganda’s economy

Ethiopia using traditional medicine to fight COVID-19

How will Rwanda’s hospitality sector recover from the COVID-19 lockdown?

Rwanda extends COVID-19 lockdown by two weeks

Burundi closes border with Rwanda to curb COVID-19 spread

Kenya sees increased demand for E-commerce amid COVID-19

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Rwanda

How the Bank of Kigali is tackling the COVID-19 crisis

South Sudan confirms first case of COVID-19

Ethiopia closes door on M-Pesa, only local companies allowed

Here’s how this Finnish financier is helping African companies weather COVID-19 crisis

COVID-19: Healthtech company Kasha receives $1mn investment to expand Africa footprint

How Africa can avert a COVID-19 triggered food crisis

Op-Ed: Africa locks down: No time for test runs

Rwanda gets $109mn from IMF for COVID-19 fight

Kenya, US start talks on trade agreement

Tracking movements shaping the Kenyan market space amid COVID-19 crisis

Here’s how young Cameroonians are banding together to fight COVID-19

How the COVID-19 lockdown is impacting Uganda’s economy

Ethiopia using traditional medicine to fight COVID-19

How will Rwanda’s hospitality sector recover from the COVID-19 lockdown?

Rwanda extends COVID-19 lockdown by two weeks

Burundi closes border with Rwanda to curb COVID-19 spread

Kenya sees increased demand for E-commerce amid COVID-19

News Tips

Advertise With Us

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