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Africa needs $100 billion stimulus pkg to fight COVID-19, says UN

Africa is two to three weeks away from the worst of the coronavirus storm and needs an emergency economic stimulus of $100 billion to bolster preventative...

South Africa announces tax relief for businesses hit by COVID-19

South Africa’s National Treasury said on Sunday it was introducing a new tax subsidy of 500 rand ($28) per month for each worker to...

IMF, World Bank Clear Somalia for Debt Relief

The IMF and the World Bank on Wednesday said Somalia had taken the necessary steps to begin receiving debt relief, a key move that...

Africa’s informal economy another casualty of the coronavirus pandemic

Earlier this month, Soukaina Rgragui, her 1-year-old daughter and diabetic mother lived modestly on the money brought back home by Soukaina’s husband, a vendor...

Ugandan banks slash fees as COVID-19 cases climb to nine

Financial service providers in Uganda are reducing their charges to enable their clients to cope with the COVID-19 pandemic that is expected to hit...

Kenyan shilling inches down against dollar, spreads widen

The Kenyan shilling edged down against the dollar on Tuesday and the spread between offers and bids continued to widen due to extreme market...

Distillers in Uganda swich from making booze to making hand sanitizer

  Alcohol distillers in Uganda have turned to making hand sanitizers as the east African country steps up efforts to fight the spread of the...

African consumers surprised by sudden rise in food prices

In Kigali, Jean Marie Mutsinzi often shops at the Kimironko market, among the largest of Rwanda's capital. He said he was caught by surprise...

Nigeria considering $4.9 billion budget cut

Nigeria is looking at reducing its budget by 1.5 trillion naira ($4.90 billion) as the global spread of the coronavirus takes a massive toll...

Ghana asks World Bank, IMF for help dealing with financial impact...

Ghana is requesting support from the World Bank and the International Monetary Fund to mitigate the economic impact of the global outbreak of coronavirus. A preliminary review...
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