Africa Business News

Israel’s Prime Minister Benjamin Netanyahu has rejected a proposal by Hamas to end the war and release captives in exchange for withdrawing Israeli forces, releasing prisoners and accepting the armed group’s governance of Gaza.
Netanyahu says that accepting Hamas’s conditions would mean leaving the armed group intact and that Israel’s soldiers had fallen in vain.
Netanyahu earlier repeated his opposition to an independent Palestinian state, insisting he would not compromise on full Israeli security control over the entire area in the west of Jordan.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Florida Governor Ron DeSantis has dropped out of the 2024 presidential race and endorsed Donald Trump.
He quit ahead of the Republican primary election in New Hampshire, where he was polling in the single digits.
Mr DeSantis says his campaign had "left it all out on the field".
The Florida governor said he was endorsing Mr Trump, who is the clear frontrunner after winning the first contest in Iowa with 51% of the vote.
Mr DeSantis said it had become clear that a majority of Republican voters "want to give Donald Trump another chance.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Cameroon is rolling out the world's first routine vaccine programme against malaria, in a global fight projected to save thousands of children's lives across Africa.
The World Health Organization (WHO)-approved RTS,S vaccine, developed by British drugmaker GSK, is targeting infants in Cameroon's 42 worst-affected districts.
The central African country will be the first country to administer doses through a routine immunisation programme, following successful pilot campaigns in Kenya, Ghana and Malawi.
The four-dose vaccine is only about 30% effective and protection begins to fade after several months.
GSK says it can only produce about 15 million doses a year.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The World Bank estimates that improved access to Internet coverage over three years led to a seven per cent reduction in extreme poverty in Nigeria and Tanzania.
The bank says Internet access also led to an increase of eight per cent in labour force participation and wage employment.
The bank further highlighted that over the past five years, Sub-Saharan Africa experienced an extraordinary 115 per cent increase in Internet users, a change that has been instrumental in spurring economic growth, fostering innovation, and creating job opportunities.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Nigeria's Lagos state says it'll immediately start implementing a ban on Styrofoam and other single-use plastics.
Lagos's environment commissioner Tokunbo Wahab says non-biodegradable plastics were a major pollution problem, and were clogging drains.
State officials say they'll use a dormant 2009 law to fine or jail culprits.
International experts estimate Nigeria generates 2.5 million tonnes of plastic waste annually.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Presidential Committee on Fiscal Policy and Tax Reforms says it is meeting with state governors to reach an agreement for states to suspend some low-revenue taxes.
The panel says the move would lead to the suspension of ‘nuisance taxes’ by states and local government authorities across the country.
The Chairman of the committee, Taiwo Oyedele, says the low-revenue taxes, which he described as nuisance taxes were not adding value to the state’s coffers.
The tax panel chairman lamented that most of the taxes especially those imposed on the transport of goods from the North to the South and vice versa were negatively affecting the poor.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Nigeria’s Central Bank has scheduled its first-rate hike meeting for February 26-27, 2024. It will be the first-rate meeting since July 2023.
According to a calendar released by the bank, the CBN is proposing six rate meetings throughout 2024.
Monetary Policy Committee meetings, which set interest rates, is an instrument through which the CBN controls inflation.
Nigeria’s inflation has soared all through 2023 to a 27-year high. Yemi Cardoso has held out, failing to call any meeting since his appointment.
Adedayo Bakare, an investment analyst at Money Africa, believes raising interest still holds the key to curbing inflation.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Nigerian National Petroleum Company Limited, says it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year.
NNPCL explained that the loan would be used by the oil company to support the Federal Government in stabilising Nigeria’s exchange rate.
The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

North Korea has scrapped several government bodies tasked with promoting reconciliation and reunification with South Korea as authoritarian leader Kim Jong Un warned that his secretive country does not seek to avoid war.
The Supreme People’s Assembly, Kim says unification with South Korea is no longer possible and called for a constitutional amendment to change the status of South Korea to a separate, hostile country.
The Supreme People’s Assembly says that three organisations handling inter-Korean reconciliation – the Committee for the Peaceful Reunification of the Country, the National Economic Cooperation Bureau and the (Mount Kumgang) International Tourism Administration – will shut.
The decision marks a further deterioration in relations between the Koreas following a series of recent missile tests by Pyongyang.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Two Tory Party deputy chairmen and a ministerial aide have resigned to rebel against Rishi Sunak's Rwanda bill.
Deputy chairs Lee Anderson and Brendan Clarke-Smith quit to join about 60 Tory MPs backing an amendment rebels said toughened the immigration legislation.
The legislation seeks to revive the government's plan to send some asylum seekers to Rwanda and deter people from crossing the Channel in small boats.
At least four Conservative MPs - including former ministers Robert Jenrick and Suella Braverman - have publicly said they are prepared to vote against the bill if it is not improved, with reports that more could join them.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.