Africa Business News

The International Monetary Fund has warned that more than 30 million people in sub-Saharan Africa are being pushed into poverty by the economic impact of the coronavirus pandemic.The IMF estimates that some African countries - aiming to vaccinate 60% of their populations - will need to increase their health spending by 50%.The lockdowns have hurt businesses - from market-stall holders to tourist resorts and multinationals.Having a young population seems to have helped protect the continent from the coronavirus.The IMF estimates that they will recover this year with a growth spurt of 3.4%, although all other regions in the world are expected to experience greater economic growth.

The US envoy to the United Nations has called for the withdrawal of Eritrean troops from Ethiopia immediately after reports of rape and sexual violence.Linda Thomas-Greenfield says that after a UN security council meeting on the Tigray conflict.The US has called for a joint investigation by the Office of the High Commissioner of Human Rights and the Ethiopian Human Rights Commission in Tigray.The US mission in a statement says they acknowledge Prime Minister Abiy’s commitment to hold accountable all those responsible for human rights violations and abuses, and atrocities. The Eritrean government must make a similar commitment.Eritrea has previously dismissed accusations of abuses.Ethiopia says it is investigating the reports of sexual violence. A senior Eritrean official described the allegations as fabricated.

The Inspector-General of Police, Usman Alkali Baba has unveiled a new policing vision and crime-fighting strategies for the Nigeria Police Force.A spokesman for the force Frank Mba noted that the IGP made the new operational protocols public, today, Thursday, 15th April 2021, during the inaugural conference with Zonal Assistant Inspectors General of Police, Commissioners of Police, and other Heads of Police Formations in the country, at the Force Headquarters, Abuja.He says the new policing vision includes; deploying cutting-edge policing technology and integrating intelligence-led policing practices to core policing functions.He says the new policing vision equally seeks to give full effect to the concept of community policing and deliver quality police service that will be guided by the principles of public accountability and conformity to the rule of law.

Nigeria’s Vice President Yemi Osinbajo says Nigeria is on the path of ensuring more access to affordable, reliable energy for its populace, as well as transitioning to the use of cleaner energy in line with the net-zero emissions global target, but an end of international funding for gas as a fossil fuel would create dire challenges for gas-producing countries especially in Africa.The Vice President noted that Nigeria is already transitioning from petrol to natural gas, which is accepted more or less as a transition fuel, the bridge to renewable energy.He says Nigeria supports the goal of the Commonwealth in outlining responsible transition pathways to decarbonize and achieve net and negative zero emissions.

Lagos State Governor, Babajide Sanwo-Olu flagged off the red line rail project which, when completed, has the capacity to commute at least one million persons daily. The governor explained that the 37-km Rail Mass Transit will traverse from Agbado to Marina, noting that it would become operational by the last quarter of 2022.He says efficient transportation is the backbone of any economy and people can meet their daily targets and aspirations.The rail corridor will be constructed in three phases, the first – Agbado-Iddo – will be completed in two years and will share the track with the Lagos-Ibadan Railway Modernisation Project up to Ebute – Metta.Governor Sanwo-Olu also presented cheques to property owners affected by the right-of-way and described the project as part of his government’s effort to deliver quality infrastructure for the transport system.The Minister of Transportation, Rotimi Amaechi and other dignitaries were also present at the ceremony.

The Minister of Information, Lai Mohammed says Twitter chose Ghana as the headquarters for its African operations, due to the unpatriotism of Nigerians. Mr Mohammed says the tech giants chose Accra over Nigeria because the nation’s West African neighbours are champions of democracy and abide by the rule of law.He says the reasons cited by Twitter for citing the headquarters in Accra, Ghana is that Accra is a champion of democracy and there is rule of law in the country, among other reasons. He says this is what happens when the country is de-market.He further blamed the media for championing the course of devaluing Nigeria by fervently putting out negative reports and painting the country as hell on earth.

The Federal Government says the issuance of new SIM cards will resume on April 19, as long as verification is done and the guidelines are fully adhered to.The Ministry of Communications and Digital Economy communicated this in a statement signed by Femi Ademiluyi, a techncal aide to Minister Isa Pantami.The government suspended the activity in December 2020 as it embarked on an audit of the Subscriber Registration Database.The Communications Ministry says at the time that the audit exercise was important in order to verify and ensure compliance by Mobile Network Operators with set quality standards and requirements of SIM Card Registration.The resumption of new SIM cards issuance comes as the country is set to implement a Revised National Digital Identity Policy for SIM Card Registration.

U.S. President Joe Biden’s administration has told Congress it is proceeding with more than $23 billion in weapons sales to the United Arab Emirates, including advanced F-35 aircraft, armed drones and other equipment, congressional aides said on Tuesday.A State Department spokesperson says the administration would move forward with the proposed sales to the UAE even as they continue reviewing details and consulting with Emirati officials related to the use of the weapons.The Democratic president’s administration had paused the deals agreed to by former Republican President Donald Trump in order to review them. The sales to the Gulf nation were finalized right before Trump left office.The Trump administration told Congress in November it had approved the U.S. sale to the UAE as a side deal to the Abraham Accords, a U.S.-brokered agreement in September in which the UAE agreed to normalize relations with Israel.

President Joe Biden’s planned announcement on Wednesday of a complete U.S. withdrawal from Afghanistan by Sept. 11 aims to close the book on America’s longest war, as critics warn that peace is anything but assured after two decades of fighting.As officials disclosed Biden’s pullout plans, the U.S. intelligence community renewed deep concerns on Tuesday about the outlook for the U.S.-backed government in Kabul, which is clinging to an eroding stalemate.The U.S. assessment states that the Afghan government will struggle to hold the Taliban at bay if the coalition withdraws support.Biden plans to announce at the White House on Wednesday that all U.S. troops in Afghanistan will be withdrawn no later than Sept. 11.

US health authorities on Tuesday recommended pausing the Johnson & Johnson Covid shot over blood clot fears, with the company quickly announcing it would delay its European rollout, in a setback for global immunization campaigns.Official says out of nearly seven million Americans who have so far received the single-dose vaccine, six women aged between 18 and 48 developed a rare type of clot in the brain along with low platelets.Food and Drug Administration scientist Peter Marks says the disorder might be triggered by a rare immune response to the vaccine similar to that seen among a few hundred recipients of the AstraZeneca jab in Europe.Both vaccines are based on adenovirus vector technology.The European Union has signed a deal for 200 million shots of the vaccine with an option for 200 million more.US authorities are now carrying out an investigation which could end up leading to tough regulatory choices, such as restricting the J&J shot to subsets of the population.People who have received a J&J shot within the past three weeks were asked to report to their doctors if they experienced severe headaches, abdominal pain, leg pain, or shortness of breath.