Zimbabwe: Lockdown amid COVID-19 surge has no support for people

“With most of Zimbabwe’s population employed in the informal sector, there are fears there could be widespread hunger as the government did not announce any plans to support citizens who will not be able to work during the lockdown.”

via The Africa Report

Egypt’s doctors arrested during COVID-19 after criticising government

“The death toll among Egyptian medical doctors who caught COVID-19 is currently at 216. While around nine doctors are currently in prison after voicing concerns about the lack of PPE and PCR tests. All of them are facing terrorism-related charges and are banned from having legal representation.”

via The Africa Report

China to cut back lending to Africa in the post-COVID-19 era

“Chinese infrastructure lending to African countries is widely expected to slow over the next 1-2 years amid mounting debt sustainability concerns. This would mark a dramatic change over the past twenty years when Beijing emerged as a key source of development finance that helped Africa close its gaping $100 billion-a-year infrastructure deficit.”

via The Africa Report

Nigeria: Businesses need lower interest rates to kick-start recovery

“Restrictions on movement in Nigeria made it much more expensive to move equipment around. Some clients were short of cash and unable to make advance payments. These included government projects relying on public funding.”

via The Africa Report

Africa’s insurance fails to deliver on COVID-19

“The pandemic has been the most severe risk event in Africa in years, but many insurers have not delivered on their promise.”

via The Africa Report

As Santam loses COVID-19 claims case, reinsurers call the shots

“A South African high court decision that the country’s largest general insurer Santam is liable for COVID-19 business interruption claims represents victory at a high cost. The danger is that the judgement will prompt reinsurers to force insurance companies to stop offering pandemic cover.”

via The Africa Report

Zambia’s default shows new approach needed for Chinese debt

“Zambia’s debt default shows that Western lenders need to develop new ways of factoring existing Chinese loans into their decisions. In essence, the long-term consequence of Zambia’s default may be to deter Western lending to countries where China is already a creditor.”

via The Africa Report

South Africa: Necessary measures needed to avoid COVID-19 resurgence

“South Africa’s stringent lockdown earlier this year may have saved lives by containing the spread of COVID-19. New COVID-19 infections have been declining and lockdown restrictions relaxed. But this has triggered fears of a new wave of infections.”

via The Africa Report

‘Health is a vital aspect of diplomacy,’ says Matshidiso Moeti WHO Africa director

“We know that health is a vital aspect of diplomacy. The impact of the COVID-19 pandemic goes far beyond health. Economies have been devastated and life as we know it has been upturned.”

via The Africa Report

African Debt: At some point, the hole becomes just too big to fill

“Nigeria, Ghana, Kenya, South Africa, and others have all announced new borrowing initiatives that will only exacerbate the current financial crisis. And what’s worse is that they’re largely planning on using the proceeds from raw material sales to repay those loans. But by the time those loans come due, commodities won’t be nearly as valuable as they are today.”

via The Africa Report