Latest Updates and News | Africa Business & Economy

  • As part of COVID-19 containment strategy, Ethiopian Airlines (Ethiopian) will temporarily close all its ticket offices in Ethiopia effective 30 March 2020. The airline has made all the necessary preparations to continue delivering the services via the Ethiopian Mobile App, Website, Chatbot, E-mail, Social Media and Contact Center with enhanced flexibility, choice and value. The multi-channel platforms enable customers book and pay as well as request for change on booking, 24/7, said the airlines. https://bit.ly/2JHP1IS
  • The cost of second-hand cars is likely to jump on reduced supply as fewer ships dock at the Mombasa port and the shilling weakens against the dollar as a result of the coronavirus global markets shocks. The combination of the weakening shilling against the dollar and reduced supply of imported cars is expected to increase used car prices by at least seven percent from next month, dealers have warned. https://bit.ly/2V68bgU
  • The Government on Saturday, 28 March 2020, inaugurated a support initiative to vulnerable families who have been affected by the lockdown aimed to curb the spread of COVID-19. The move is in line with what President Paul Kagame had highlighted in his address to the nation on Friday, 27 March 2020, where he noted that the Government will do everything possible to support vulnerable Rwandans during the coronavirus containment period which is characterised by social and economic challenges. https://bit.ly/3aNP1Tp
  • Algerian authorities announced the expansion of the night-time curfew to nine other governorates, mainly in the north of the country, in addition to the capital. Under the new measures taken to prevent the spread of the coronavirus, Algeria’s Prime Minister Abdelaziz Djerad issued a decree that includes the expansion of curfew procedures on new governorates, starting from Saturday. On Monday, the authorities issued a decision to isolate the Blida governorate, south of the capital, where there is a concentration of coronavirus cases, and impose a full lockdown for ten days. https://bit.ly/2UK0TQK
  • SAA will temporarily re-open and fly internationally – to help evacuate non-South Africans who are trapped in foreign countries and could not make it back home before the lockdown. The Mail & Guardian, citing internal communications, reports that the airline is in talks with several countries over the matter. Because the airports have been shut down, they would temporarily need to open, and workers need 24 hours’ notice to return to work when needed. https://bit.ly/2Xc2fFJ
  • Ethiopian Airlines (Ethiopian) announced that it has suspended flights to more than 80 international destinations as of 29 March 2020, due to the COVID-19 global pandemic. According to a statement, the national flag carrier will continue to provide cargo services to all served cargo deviations. Despite a 50 percent decline in domestic market, Ethiopian has also continued to operate all its domestic services. https://bit.ly/2RgzROV
  • Motorcycle ride-hailing firm SafeBoda has announced clocking 100,000 rides daily after it recently launched low-cost local food delivery services. The firm is projecting an increase in food business segment as people stay home and avoid shopping malls and crowded public transport amid public health measurers taken to reduce the spread of Covid-19. https://bit.ly/39MfeAL
  • Domestic air travel operators are seeking a KES 3 billion (approx. USD 28.6 million) Government bailout to cushion the carriers from reduced bookings in the wake of the coronavirus (Covid-19) pandemic. The operators have been recording a drop in revenues after the State banned the entry of travellers from coronavirus-hit countries, closed schools indefinitely and encouraged working from home, a move which has seen few passengers book flights. https://bit.ly/2JIAEnO
  • The Government of Rwanda has formally notified Uganda and Kenya of the sudden decision by Burundi to block cargo trucks entering their country through Rwanda. All Burundi-bound trucks transporting cargo from the Kenyan port of Mombasa, transit through Uganda and Rwanda. However, authorities in Gitega recently decided to block trucks using the Northern Corridor, causing gridlocks at points of entry. https://bit.ly/3aNusXg
  • Tea factories might be forced to process leaf and store the commodity in warehouses awaiting sale at the Mombasa auction should the situation worsen over the coronavirus. To cushion farmers from a prolonged period of slow sales, factories will store processed tea, said Paul Ringera, a director at Githongo Tea Factory in Meru. There are fears that even as the Mombasa auction was conducted this week, if lockdowns continue in Kenya’s tea markets abroad the value chain disruption is likely to trickle down to green leaf harvesting. https://bit.ly/2Xceq5u
  • The Malawi Stock Exchange (MSE) is changing trading patterns to protect the market from volatility and speculative trading as the coronavirus risks continue to mount globally, the local shares market announced on Tuesday. In a statement, MSE said it has put in place a comprehensive business continuity plan to counter risks of the Covid-19 on trading. https://bit.ly/2XdKvtI