African Risk Capacity Grants $2.13m to Madagascar for Drought Response   Madagascar Minister of Finance, Minister of Foreign Affairs, Minister of Agriculture and ARC Partners during the ceremony Johannesburg, South Africa, July 03, 2020 - The Government of Madagascar today received a symbolic cheque in the amount...

World Bank Appoints Two Vice Presidents For Africa   The World Bank has appointed a another Vice President for the Sub-Saharan Africa Region. The region’s portfolio was formally managed by one Vice president, a position occupied by Mr. Hafez Ghanem, an Egyptian and French national. With the new...

COVID-19: AfDB Forecast $88.3bn Drop In Africa’s GDP     The African Development Bank (AfDB) has projected that the ongoing Coronavirus (COVID-19) pandemic ravaging economies globally could cause Africa’s Gross Domestic Product (GDP) to drop by between $22.1billion and $88.3billion. According to the Bank, before the advent of...

African Air Travel Market Plunges By 98.7%   Airlines in Nigeria and other African countries hit the rock bottom in the month of April, with passenger traffic dropping by a whopping 98.7 per cent. A regional travel estimate recently released by the International Air Transport Association (IATA),...

Africa Akinwunmi Adesina (AFDB): Any Conspiracy From The Western Block? By Jimoh Ibrahim, OFR, CFR Please wait a minute; it is about corporate governance! Yes, in a simple bank matter, and what is more, as Wolfensohn will say, corporate governance is about promoting corporate fairness, transparency,...

Lockdown: Africa Loses $65.7bn Monthly - ECA     The Economic Commission for Africa (ECA) has released a new report proposing to African nations various COVID-19 exit strategies following the imposition of lockdowns that helped suppress the spread of the COVID-19 in the region but with devastating...