The Zimbabwe Revenue Authority collected $701 million for the third quarter, surpassing its own targets after coronavirus restrictions were eased. African Union chairperson calls for more funding onto fight Covid 19. Angola’s economy contracts. 

US fintech, Stripe purchases Paystack, a Nigerian payments start-up, as it looks to grow its footprint across the African continent.  South African President Cyril Ramaphosa tabled a plan to revive the economy, with job creation, increased infrastructure investment and enhanced energy security. At least 2.9 million simcards were wiped off Uganda’s telecom  networks.

Zambia’s eurobonds slumped for a second day as the country as the country heads for a default amid a showdown with bondholders over its request for an interest payment holiday. Bank of Uganda said foreign banks lending to local companies do not fall under its jurisdiction, exonerating itself from blame after a high court ruled that a loan arranged by a Kenyan bank was illegal.  De beers sold the most diamonds since the coronavirus crisis brought the industry to a halt, after price cuts and recovering demand lured buyers back.

 Mozambique published its proposed model for a sovereign wealth fund. Botswana supermarket chain, Choppies are suing former auditors,  PwC for $40 million for not signing off on the company’s 2018 accounts.

Nigeria’s President Muhammadu Buhari 2021 Budget has been condemned by many Nigerians after over N128 billion was earmarked for the national assembly. Vodacom has been caught up in a row with Lesotho’s regulators over alleged weak corporate governance. Land Bank seeks R10-billion more in state support.

Sudan’s red seaports reopened after about three days of protests. Kenya’s first fertiliser manufacturing plant is set to open in Nakuru by end of the year. South African unions strike over job losses, an inadequate public transport system, corruption and state spending curbs.

Nigeria to deliver 2021 to the national assembly on Thursday. The International Monetary Fund (IMF) has extended an emergency loan of $102 million for Malawi to plug its fiscal deficit.

Chevron Nigeria to cut 25% of its workforce. Central Banks of Kenya says there is no shilling manipulation. SA and Kenya’s PMI hit new levels

· South Africa’s foreign direct investment inflows fell to R17.4billion in the second quarter from R29 billion in the first quarter.

· Nigeria has suspended a controversial electricity tariff hike that has stoked tensions in the country as part of a deal to ward off a general strike by unions.

· Copper miners in Zambia have frozen $2 billion of planned investments because a royalty tax introduced last year makes the projects unviable.

Namibia's economy contracted by 1.6% in 2019 compared to growth of 1.1% recorded in 2018. South Africa's manufacturing output contracted 10.6%.  South African Airways needs short-term funding from the government by the end of next week to continue operating.