27 C
Lagos, South Africa and New York
Tuesday, June 2, 2020

Tullow Oil says 58 workers test positive for COVID-19 offshore Ghana

ACCRA (Reuters) - Fifty-eight workers tested positive for COVID-19 at an oil production facility run by Tullow Oil off Ghana’s Atlantic coast, the company said in a statement on Friday. Fifty-seven workers tested positive on a support vessel for a floating production and storage (FPSO)...

eSwatini’s economy forecast to shrink 6.7% due to coronavirus

MBABANE (Reuters) - The small mountain kingdom of eSwatini’s economy will likely contract by 6.7% this year due to the coronavirus crisis, its government said on Friday. “The pandemic has forced us to divert and realign our budget so that we can address this coronavirus...

George Floyd death: Ex- Police officer charged with murder in Minneapolis

A police officer fired following the death of an unarmed black man in Minneapolis has been arrested and charged with murder and manslaughter. Derek Chauvin was shown in footage kneeling on George Floyd's neck. Three other officers were sacked over the fatality on Monday. Days of...

Mauritius economy to contract sharply due to virus, says bank governor

NAIROBI (Reuters) - Mauritius’s economy is expected to contract by between 7.5% and 15% in 2020 due to the effects of the coronavirus, which have hit its tourism, manufacturing, and transport sectors, the central bank governor said on Friday. Governor Harvesh Seegolam said in a...

Kenya’s inflation at 5.47% in May

NAIROBI (Reuters) - Kenya’s inflation fell to 5.47% year on year in May from 5.62% in April, the statistics office said on Friday. On a monthly basis, inflation was 0.63% from 0.86% a month earlier, the Kenya National Bureau of Statistics said in a statement. Reporting...

Ethiopia passes supplementary budget to help absorb virus impact

ADDIS ABABA (Reuters) - Ethiopia’s parliament on Friday approved a supplementary budget worth 48.56 billion birr ($1.43 billion) for the financial year ending July to help the economy weather the impact from the novel coronavirus. Authorities have put in place several measures to curb the...

RMB confirms Total’s $15 bln funding for Mozambique LNG project

JOHANNESBURG (Reuters) - South Africa’s Rand Merchant Bank (RMB) confirmed on Thursday that it is part of a consortium of banks providing $15 billion funding for French energy major Total’s Mozambique liquefied natural gas (LNG) project. Sources told Reuters last week that Total had secured...

Kenya central bank governor says small businesses need urgent help

NAIROBI (Reuters) - Kenya’s small and medium businesses need urgent help to survive the economic slowdown caused by the novel coronavirus, and many are at risk of shutting down by the end of June, the head of the central bank said on Thursday. On Wednesday,...

South African state asset manager proposes converting Eskom bonds into equity – chairman

JOHANNESBURG (Reuters) - South African state asset manager the Public Investment Corporation (PIC) has submitted a proposal to government on converting bonds it holds in struggling state utility Eskom into equity, PIC chairman Reuel Khoza told Reuters in an interview. Khoza said the PIC had...

S.Africa plans $20.5 bln of public works to spur economy – ANC official

JOHANNESBURG (Reuters) - South Africa is planning projects worth $20.5 billion in sectors such as transport, energy and water as it looks to drive an economic recovery from the coronavirus crisis, a top official in the governing African National Congress (ANC) said on Wednesday. Paul...