Africa Business News

The Shanghai Composite Index surged over 2% Monday, after the People Bank of China tweaked foreign exchange policy. The central bank announced Saturday that financial institutions now no longer need to set aside cash when conducting some forex forwards trading. Stocks also jumped in Hong Kong while rose modestly in Australia. The Nikkei 225 fell, however, on concerns about upcoming earnings reports.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Chinese city of Qingdao is testing its entire population of nine million people for Covid-19 over a period of five days.
The mass testing comes after a dozen cases were found linked back to a hospital treating corona virus patients arriving from overseas.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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One of Senegal's most visited tourist sites, Gorée Island off Dakar, reopens to visitors on Monday.
A former hub of the trans-Atlantic slave trade, Gorée has been closed for six months because of the coronavirus pandemic, harming its economy.
A limited number of tourists daily may now visit the World Heritage Site, which was one of the first European settlements on the African continent.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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British Prime Minister Boris Johnson and Kenya’s President Uhuru Kenyatta are due to launch a call to action on Monday to raise $5bn (£3.8bn) for educating the most vulnerable children around the world.
The number of children out of school has risen sharply during the Covid-19 pandemic.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has identified the Central Bank of Nigeria’s (CBN) restriction of domestic investors from participating in its open market operations (OMO) as well as the interest rate cut as policies that have continued to buoy the stock market performance.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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Figures obtained from Nigeria Interbank Settlement System (NIBSS) showed that the total value of transactions in the country through electronic payment (e-Payment) channels, which included Point of Sale (PoS), the Automated Clearing House (ACH) and the Nigeria Inter-bank Settlement System Instant Payment (NIP) rose by 5.49 per cent to N17.3 trillion in September 2020, compared with the N16.4 trillion recorded in August.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The federal government is seeking to retain the same Production Sharing Contract (PSC) terms, signed into law in 2019 by President Muhammadu Buhari, in the new Petroleum Industry Bill (PIB) before the National Assembly.


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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Lagos State Governor, Babajide Sanwo-Olu on Sunday said the disbandment of the Special Anti-Robbery Squad (SARS) is a victory for the Nigerian youths following nationwide protests against the squad.


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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Speaker of the House of Representatives, Mr Femi Gbajabiamila, has called on the Inspector-General of Police, Mohammed Adamu, to ensure officers of the Special Anti-robbery Squad (SARS) who are involved in human rights abuses are punished.


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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

Support this podcast: https://anchor.fm/newscast-africa/support

The Inspector-General of Police, Mohammed Adamu, has dissolved the infamous subunit of the force, the Special Anti-robbery Squad Popularly called SARS.
The IGP on Sunday said the Special Anti-Robbery Squad of the Nigerian Police, otherwise known as SARS, is hereby dissolved across all formations, the 36 state police command and the Federal Capital Territory where they currently exist.


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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

Support this podcast: https://anchor.fm/newscast-africa/support