Africa Business in Brief – ISSUE 349 | 26 APR 2020

A non-exhaustive list of recent measures aimed at curbing the spread of coronavirus (COVID-19)

Africa: The African Development Bank Group (AfDB) is ready to provide fast, flexible and effective responses to lessen the severe economic and social impact of the COVID-19 on its regional member countries including the private sector. As the primary channel for its efforts to combat the crisis, the Bank is proposing a COVID-19 Rapid Response Facility that will provide a flexible range of support within the UA7.4-billion envelope.

Source: African Development Bank Group

Africa: The 26th Commonwealth Heads of Government Meeting (CHOGM) which was scheduled to take place in Kigali, Rwanda from 22-27 June 2020 has been indefinitely postponed due to the COVID-19 pandemic.

Source: Xinhua

Africa / Rwanda: Rwanda has donated USD1-million to continental efforts to combat the COVID-19 outbreak. President Paul Kagame made the pledge on Wednesday, 22 April 2020 during a Teleconference Meeting of the Extended African Union (AU) Bureau chaired by President Cyril Ramaphosa. During the meeting which, brought together Heads of State and Governments of Democratic Republic of Congo (DRC), Ethiopia, Kenya, Mali, Senegal, Zimbabwe, AU Commission Chair and members of the African Business Leaders Coalition, President Kagame said the pledge will boost joint continental efforts. The AU COVID-19 Fund and the African Centre for Disease Control (CDC) will receive USD500,000 each as the continent cases crossed the 25,000 mark and deaths exceeded 1,200 on Wednesday.

Source: KT Press

Angola: The Government simplified procurement procedures for public contracts for goods, services and works related to mitigating the COVID-19 pandemic.

Source: IHS Markit

Djibouti / Ethiopia: Ethiopian Prime Minister Abiy Ahmed announced on 14 April that the port of Djibouti had agreed to cut tariffs on Ethiopian exports by 82.5% to help limit the economic implications of the COVID-19 outbreak. The Djibouti Ports and Free Zones Authority subsequently confirmed that terminal handling charges would be lifted for two months.

Source: IHS Markit Eswatini: The Central Bank of Eswatini, in consultation with the Monetary Policy Consultative Committee (MPCC), lowered the bank rate by a further 100 basis points to 4.5% effective from 16 April 2020. The decision was driven by volatile economic developments owing to the COVID-19 pandemic. Source: IHS Markit Ethiopia: Ethiopian has been deploying its massive cargo capacity to facilitate the flow of essential cargo such as medical supplies wherever they are needed. […]

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