Africa Business News

The Nigeria Centre for Disease Control says 111 new cases of COVID-19 were confirmed in the country. This brings the total number of infections so far to 57,724.
The Nigeria Centre for Disease Control, in a tweet on Wednesday night, said the new cases were reported from 12 states of the federation including Lagos where 31 cases were recorded.
Gombe had thirty- one cases, Kaduna had eighteen cases, FCT had fifteen cases, Rivers had fourteen cases, Imo, Kwara and Oyo had three cases each, Bayelsa had two cases, while Edo and Osun had one case each.
The NCDC report shows that 48,985 recovered patients have been discharged while 1,102 deaths have been recorded so far.

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South African President Cyril Ramaphosa during the meeting of the UN's General Assembly said Africa needs support from the rest of the world in order to rebuild the shattered economies in the wake of the coronavirus pandemic.
Mr Ramaphosa, who was also speaking in his role as the chair of the African Union, said the continent needs help with a comprehensive stimulus package.


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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 UN has warned that escalating conflict in northern Mozambique could mean crisis levels of food insecurity continue into next year.
The World Food Programme said it was deeply concerned about the humanitarian situation in Cabo Delgado province, with more than 300,000 people reliant on aid after abandoning their homes and crops.


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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 Reserve Bank of New Zealand maintained its official cash rate (OCR) at a record low of 0.25%, as widely expected, on September 23rd, 2020, amid significant uncertainty due to the COVID-19 crisis, while retaining its large scale asset purchase (LSAP) programme up to NZD 100 billion. Policymakers noted that market participants now believed that it was likely the OCR would be reduced below zero next year, as the pandemic and associated travel restrictions could have a significant long-term negative impact on the economy. 

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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 Dutch economy shrank 8.5 percent on quarter in the three months to June 2020, the steepest pace of contraction since the series began in 1988, matching a preliminary estimate and after 1.5 percent contraction in the previous quarter. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession, due to the coronavirus health crisis ravaged business activity and global demand. Household consumption slumped 11.3 percent, fixed investment tumbled 11.3 percent and government spending decreased 3.1 percent.


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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 Africa Centres for Disease Control (CDC) has said public health initiatives on the continent have led to a drop in new coronavirus cases.
The Centre’s director, John Nkengasong, told BBC's Newsday programme that testing, contact tracing and wearing of face masks had helped curb the 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 Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) on Tuesday resolved to reduce the Monetary Policy Rate (MPR) by 100 basis points to 11.5 per cent from 12.5 per cent.
The move is expected to encourage more bank lending in order to stimulate economic activities.


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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 Nigeria Labour Congress on Tuesday insisted that it will organise workers across the country to protest the increase in fuel and electricity prices on September 28.
NLC President, Ayuba Wabba while speaking in Abuja at a press briefing said the protest action was inevitable since the federal government has refused to reverse the increase in electricity and fuel prices.


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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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President Muhammadu Buhari has ordered the reduction of the cost of fertilizer from N5,500 to N5,000 naira per bag.
The reduction was announced by the Vice Chairman of the National Food Security Council and the Governor of Kebbi State, Atiku Bagudu.
He disclosed this on Tuesday while briefing State House reporters in Abuja after the council met with the Chief of Staff to the President, Professor Ibrahim Gambari.


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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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Nigerian government on Tuesday said there was no hidden agenda pertaining to the water resources bill being considered in the National Assembly.
This came as some groups, including the Nigeria Labour Congress, have called for the bill to be rejected. Nobel laureate, Wole Soyinka, has also been quoted as saying the country will be doomed if the bill makes it into the law books.


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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