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Stears on the impact of COVID-19 on small businesses in Nigeria

Data from Stears says Nigerian businesses are likely to be directly affected by the local spread of COVID-19, and many more would be impacted by the partial shutdown of the Nigerian economy. They also stress that most of the 40 million small businesses in the country are ill-equipped to handle a crisis of this scale. Michael Famoroti, Chief Economist at Stears joins CNBC Africa for more.

African Development Bank President denies allegations of ill-governance

Replying to an article recently published in the French newspaper, “Le Mond”, President of the African Development Bank, Akinwumi Adesina, has denied allegations questioning the transparency and governance systems of the bank.

Lockdowns, curfews and doorstep testing: Africa’s crackdown on the coronavirus

By: Elliot Smith KEY POINTS The Africa Centers for Disease Control and Prevention (Africa...

COVID-19 – “Enormous gap” in ventilators for Africa – the worry is no one is sure how big.

“At the moment, we are trying to find out this information and we don’t have the actual number. What we can say, without any doubt, there is an enormous gap in the number ventilators needed in Africa.”

Moody’s places Angola’s B3 ratings on review for downgrade

Moody's Investors Service ("Moody's") has today placed Angola Government's B3 long-term issuer ratings and senior unsecured rating and its (P)B3 senior unsecured MTN rating under review for downgrade. The short-term issuer rating is affirmed at Not Prime (NP).

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.

Lagos State passes bill, offers economic support to mitigate COVID-19 impact

Ahead of Nigeria’s lockdown of three states, Lagos State Governor Babajide Sanwo-Olu hinted that the state may have begun to see a trend in community spread of the COVID-19outbreak. He says the state will now begin to implement measures to cater for indigent citizens.

COVID-19: How African countries can insure against outbreaks

The Africa Risk Capacity is a specialised Agency of the African Union and they are currently undertaking an urgent exercise to model the potential impact of the coronavirus on Africa to inform and guide member states. This modelling according to the ARC will look into the likely short-term and medium-term effects of the pandemic on the continent as well as how to mitigate these shocks. Mohamed Beavogui, Director General and United Nations Assistant Secretary General, African Risk Capacity joins CNBC Africa for more insight into this.

The impact of COVID-19 on Nigeria’s business community

President Muhammadu Buhari says he has directed the Minister of Industry, Trade and Investment to work with the Manufacturers Association of Nigeria to ensure that all production of essential items such as food, medical and pharmaceutical products continues unhindered. Mansur Ahmed, President of the Manufacturers Association of Nigeria joins CNBC Africa for more.

Op-Ed: African giants to stumble due to Covid-19 pandemic

NKC African Economics expects the coronavirus-related knock to economic growth in Africa’s three largest economies alone to shave off 1 ppt from the continent’s GDP growth this year, from 3.8% to 2.8%.

WHO: Sub-Saharan Africa reporting at least 300 COVID-19 cases a day

COVID-19 cases are occurring at the rate of 300-a-day in sub-Saharan Africa and there are likely to be many more that the authorities are missing, a World Health Organisation briefing on the continent admitted Thursday.

How this genomics research company is helping Nigeria tackle COVID-19 pandemic

Genomics research company 54Gene's COVID-19 testing support fund was launched today to increase Nigeria's daily testing capacity. The firm opened the fund with a donation of $150 thousand and has since received an additional $350 thousand from Union Bank. CEO of 54 Gene Abasi Ene-Obong joins CNBC Africa for more.

Ghana launches universal QR code for cashless transactions to curb COVID-19 spread

As Ghana deploys tactics to curb community spread of COVID-19, Alex Boahen, Head of Research at Databank Group joins CNBC Africa to discuss the impact on Ghana’s financial markets.

Nigerian foreign exchange and fixed income watch

Traders say they expect activity at the bond market to pick up today, on the back of the unmet bids at Wednesday's bond auction as well as the improvement in liquidity. Oluwatosin Ayanfalu, Fixed Income Broker at Zedcrest Capital joins CNBC Africa to review today’s trading at Nigeria’s fixed Income and Forex market.

These are measures Bank of Ghana is taking to mitigate COVID-19 impact on the banking sector

Moody’s Investors Service say they expect the recent measures by the Bank of Ghana to help mitigate the negative effects of the coronavirus on banks’ asset quality and liquidity. Vice President and Banking Analyst at Moody’s, Christos Theofilou joins CNBC Africa for more.

COVID-19: What is Africa’s rescue plan?

The African Centre for Disease Control will hold its fifth press briefing for an update on the coronavirus situation in Africa and also speak on moves to curtail the spread of the pandemic. Edwin Ikhuoria, Executive Director of One Africa joins CNBC Africa to explore possible rescue plan for Africa amid this pandemic.

How Nigeria’s telecoms industry is responding to COVID-19

The Central Bank of Nigeria says Non-Performing Loans in the banking industry moderated to 6.54 in the February from 6.59 per cent in January. David Adu, Senior Analyst at Meristem Securities joins CNBC Africa for a focus on Nigeria’s banking sector and telecommunication industry.

UBA’s Bankole Odusanya breaks down Nigeria’s bond auction

Bankole Odusanya, Head of Fixed Income Trading at United Bank for Africa (UBA) joins CNBC Africa to discuss investors’ response to bond auction by Nigeria’s Debt Management Office.

COVID-19: Kobo360’s Obi Ozor on how the Lagos shutdown will impact businesses

How will the seven-day partial shutdown announced by Lagos state impact businesses? Obi Ozor, Co-Founder of Kobo360 joins CNBC Africa's Kenneth Igbomor for more.

COVID-19: Lagos to begin partial 7-day shutdown

Lagos State Governor, Babajide Sanwo-Olu has announced a partial shutdown in the state for seven days starting from Thursday 26 March 2020. The Governor called for the shutdown of court sittings, markets and stores, except for essential services.

Nigerian president’s top aide tests positive for coronavirus – source

The Nigerian president’s chief of staff has tested positive for coronavirus, a source with direct knowledge said.

NSE in green as MPC maintains MPR at 13.5%

The NSE All-Share Index gained 0.19 per cent today, after the market shed 2.24 per cent. Meanwhile, Nigeria’s Monetary Policy Committee retained all its key rates in the second meeting of the year. Gbolahan Aina, Head of Investment at Cordros Asset Managment joins CNBC Africa for more....

Nigeria’s MPC retains MPR at 13.5%

In a surprise move, Nigeria's Monetary Policy Committee kept its key policy rate unchanged at 13.5 per cent and also retained all its policy parameters. CBN Governor Godwin Emefiele also stressed that tightening the MPR could reduce money supply and also aggregate demand, while loosening at this time could exacerbate the already worsening inflation. CNBC Africa's Wole Famurewa breaks down the MPC's decision with Charles Robertson, Global Chief Economist of Renaissance Capital, Bismarck Rewane, CEO of Financial Derivatives and Lanre Buluro, Director of Chapel Hill Denham, and Abdulrahman Yinusa, Governing Council Member of the Chartered Institute of Bankers in Nigeria....

Nigeria MPC: What’s at stake ahead of Nigeria’s COVID-19 rate decision

The Bank of Ghana announced a 150 Basis point cut of its benchmark interest rate to 14.5 per cent, while the South African Reserve Bank cut its Repo rate by 100 basis points to 5.25 percent. Joining CNBC Africa to analyse the global monetary policy response to the COVID-19 pandemic as we await the decision of Nigeria’s Monetary Policy Committee, are Charles Robertson, Global Chief Economist at Renaissance Capital, Bismarck Rewane, CEO of Financial Derivatives, Lanre Buluro Director, Chapel Hill Denham and Abdulrahman Yinusa, Governing Council Member of the Chartered Institute of Bankers....

Op-Ed: Tips to Successfully Work from Home amid the COVID-19 pandemic

Following the address made by South African President Cyril Ramaphosa regarding COVID-19 and its impact on the nation, employees and employers are being asked to “self-quarantine” and implement “social distancing”

COVID-19: Nigeria Medical Association asks doctors on strike to resume duty

President of the Nigerian Medical Association, Francis Faduyile, says there’s need for more orientation and enforcement of COVID-19 prevention measures as poverty and weak health systems may get in the way. CNBC Africa's Christy Cole reports.

How the U.S economic stimulus could minimise COVID-19 impact on global markets & oil prices

Oil market clawed back some gains in anticipation of a N2 trillion U.S economic stimulus which could minimise the economic impact of the coronavirus outbreak and in turn support oil demand although, U.S Congress is yet to agree on the rescue package. For more on the impact of the COVID-19 pandemic on the global oil market, Uchenna Minnis, Managing Partner of Blufx Nigeria joins CNBC Africa for more.

COVID-19: Understanding consumer behavior thresholds

Nielsen Africa say they have identified six key consumer behaviour threshold levels that tie directly to concerns around the coronavirus pandemic. Bryan Sun, Managing Director for Nielsen Africa joins CNBC Africa for more.

Congo imposes 48-hour lockdown on mining province over coronavirus

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.

Latest

How Amazon Sellers Are Supplying Hospitals And First Responders

Amid massive shortages, Amazon is only allowing hospitals and government agencies to order items like N95 masks and COVID-19 diagnostic kits. Now, third-party sellers on Amazon are stepping up to help, and repositioning their small businesses to surv

Why business should not throw in the towel in the face of COVID-19

“I would like to appeal to all large businesses not to resort to force majeure and stop paying their suppliers and rental commitments , as such practice has a domino effect on all other businesses dependent on that chain,”

SA extends lockdown by two weeks until end April

South Africa's President Cyril Ramaphosa on Thursday evening extended the country's lockdown by two weeks until the end of April to slowdown...

COVID-19: Trump hold on finances would hurt our work in Africa – WHO.

"If that decision is made it would severely impact our work here in Africa,” says Moeti.

Update on Rupert family’s R1bn COVID-19 fund

This week Johann Rupert’s R1billion Sukuma fund had to close doors on desperate small businesses wanting help to fight the impact of COVID-19 lockdowns.