Africa Business News

The Nigeria Centre for Disease Control has confirmed 155 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 55,160.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that the new cases were reported from 16 states whie had forty-two cases.
A total of 43,231 persons have recovered from the virus while the death toll now stands at 1,061.

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· 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 Shanghai Composite Index dropped 16 points or 0.5% to 3,341 on Monday at around 01:30 PM Shanghai time. Investors were nervous over growing tensions on technology matter between Beijing and Washington as US President Donald Trump is considering adding China's top chipmaker Semiconductor Manufacturing International in blacklist. 

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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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Oil prices fell more than 1% on Monday, touching their lowest since July, as optimism about demand recovery weakened after Saudi Arabia cut the October official selling price for Arab light crude it sells to Asia by the biggest margin since May. Meantime, the US government report last week showed domestic gasoline demand fell again. Reuters reported that the world remained awash with fuel supplies despite OPEC+ supply cuts and efforts from governments to prop up their economies. 

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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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Brexit trade talks plunged into crisis on Monday after Britain warned the European Union that it could effectively override the divorce deal it signed unless the bloc agrees to a free trade deal by Oct. 15.
Sections of the internal market bill, due to be published on Wednesday, are expected to “eliminate the legal force of parts of the withdrawal agreement” in areas including state aid and Northern Ireland customs, the Financial Times said, citing three people familiar with the plans.


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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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Delegates of Libya's rival administrations have met for talks in Morocco two weeks after the two sides declared a ceasefire.
Five delegates each met from the UN- recognised government in Tripoli and the rival parliament based in the eastern city of Tobruk.
Moroccan Foreign Minister, Nasser Bourita, while opening the meeting in the town of Bouznika, said that Morocco had no specific agenda but wanted to give Libyans a chance to discuss the issues dividing them.


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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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Uganda's Labour Minister, Mwesigwa Rukutana, is expected to appear in court on Monday after he was arrested over the weekend over a shooting incident.
The minister allegedly shot at his opponent's supporters after he lost the primaries of the ruling party National Resistance Movement (NRM).
One supporter was seriously injured and two others sustained major injuries, according to local media 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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Nigerian Government has launched a creative challenge to mark the Diamond Jubilee.
The Minister of Communications and Digital Economy, Dr Isa Pantami who is the Chairman of the Diamond/Innovation/Change Sub-Committee disclosed this in a statement shared on the Ministry’s Twitter handle.
The minister said to ensure inclusiveness, the thematic and creative aspects of the event would be designed by Nigerians for Nigeria. The theme of the celebration is “Together at 60”.


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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

Brexit trade talks plunged into crisis on Monday after Britain warned the European Union that it could effectively override the divorce deal it signed unless the bloc agrees to a free trade deal by Oct. 15.
Sections of the internal market bill, due to be published on Wednesday, are expected to “eliminate the legal force of parts of the withdrawal agreement” in areas including state aid and Northern Ireland customs, the Financial Times said, citing three people familiar with the plans.
Prime Minister Boris Johnson on Monday said Britain has set a deadline of Oct. 15 to strike a free-trade deal with the European Union, and if none is agreed both sides should accept that and move on.

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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 US Department of Defense in a Report said China is considering setting up military bases in four African countries.
Kenya, Seychelles, Tanzania and Angola were mentioned among a dozen other countries where China is considering setting up bases.
The four African governments are yet to respond to the report.
The report that was published last week was widely reported over the weekend, with some of the countries where the bases are to be set up denying being in discussions with China.
It says China has likely considered locations for military logistics facilities in Myanmar, Thailand, Singapore, Indonesia, Pakistan, Sri Lanka, United Arab Emirates, Kenya, Seychelles, Tanzania, Angola, and Tajikistan.
It added that China and Cambodia have publicly denied having signed an agreement to provide the plan with access to Cambodia’s Ream Naval Base.

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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 Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has said that ongoing investigation has revealed that about $301 million was given as under-hand dealings to some persons in a bid to hide the illegality of the Process and Industrial Developments (P&ID) gas supply and processing deal.
Mr Malami stated that the latest ruling of a court in the United Kingdom, overturning a $10 billion judgement awarded against it, is a result of the progress made from the investigation.
Mr Malami stated that some principal characters that were investigated have been arraigned and there have been certain convictions recorded.
He added that within the government employ, some retired staff have been alleged to benefit from the deal and the investigation will reveal their level of involvement.

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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