Nigeria in ‘crisis’ as oil receipts plummet

“In a sign of just how severely Nigeria’s economy has been affected by the coronavirus pandemic and the oil price crash, Africa’s biggest crude producer this week warned of an imminent recession, requested $7bn in emergency funding and ditched a costly oil subsidy scheme.”

via Financial Times

France to reallocate Africa aid money for fight against coronavirus

“France will reallocate almost €1.2bn of African development aid to the fight against coronavirus as part of President Emmanuel Macron’s effort to focus international attention on the health and economic impact of the pandemic on the continent.”

via Financial Times

African health officials warn of chronic medical shortages

“African health officials have warned of a chronic shortage of the critical care equipment needed to fight coronavirus as the outbreak gathers pace on the continent. Central African Republic has just three ventilators for its 5m people. In Burkina Faso there are 11 machines for 19m citizens, while Sierra Leone has 18 for a population of 7.5m.”

via Financial Times

If COVID-19 is not beaten in Africa it will return to haunt us all

Ethiopian Prime Minister Abiy Ahmed argues efforts “to tackle the human and economic cost of this global scourge must be global in design and application… Without that, Africa may suffer the worst, yet it will not be the last. We are all in this together, and we must work together to the end.”

via Financial Times

South Africa launches bond purchases after coronavirus roils markets

“South Africa’s central bank began to buy government bonds on Wednesday in a bid to unblock strained local money markets as Africa’s most industrial economy braces for a three-week national lockdown to stem the spread of coronavirus.”

via Financial Times