Zimbabwe's embattled national airline is to send some of its staff on indefinite unpaid leave later this month following a drop in revenue caused by global travel restrictions.

Air Zimbabwe, which has just one aeroplane, was already 300 millon dollars in debt before the coronavirus pandemic struck. At the end of March, it grounded its flights altogether.

Air Zimbabwe is quoted by Reuters news agency as saying it will keep a skeleton staff for the time being, and all employees will still receive their April salaries.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

South Africa’s Standard Bank says it would pay its 2019 dividend of 540 cents per share. This comes after the central bank clarified that guidance to scrap shareholder returns did not apply to dividends already declared.

The South African Reserve Bank said earlier this week it had asked lenders to put dividends on hold due to the coronavirus outbreak.

However, laws in South Africa mean that where a dividend has already been declared there is a legal obligation to pay.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

Meanwhile, Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti money-laundering rules on some trades.

The central bank said it took action over foreign exchange trades carried out by Absa Bank in March. The regulator said Absa had also failed to satisfactorily make “know-your-customer” checks.

In response, Absa Kenya said its parent Absa Group and all its subsidiaries had strict anti money-laundering policies and on combating the financing of terrorism. It also said know-your-customer policies were applied in all their businesses.

The central bank said Absa would also be required by April 15 to have put in place.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

The Kenyan central bank’s Monetary Policy Committee. on Friday, says it will hold its next rate-setting meeting on April 27.

At its last meeting on March 23, the central bank cut its benchmark lending rate by 100 basis points to 7.25%. It also and lowered the cash reserve ratio for commercial banks to 4.25% from 5.25%.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

The Bank of Ghana in its latest auction of forex, accepted $25 million in bids.

This represents 31.74% of the total amount of $78.75 million that forex dealers bid for.

In a report published by the central bank in controlling the supply of dollars, the BoG said a total of 108 bids were submitted in the latest forex auction which was carried out on Tuesday [April 7, 2020].

Dealers seeking foreign currency within the next seven days bid the highest number of 53.

The Bank of Ghana offered prices higher for the minimum bids quoted by the dealers, it offered relatively lower prices for the maximum bids quoted by the dealers.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

The National Insurance Commission has commended insurance companies for their initiative to voluntarily support the fight against COVID-19 pandemic by providing life insurance cover for medical personnel and other donations.

NAICOM said in a letter to the regulated entities that mobilisation of the funds by the industry would be coordinated by the commission.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

Shell has declared a force majeure on exports of Nigerian Forcados crude oil after a shutdown by the pipeline’s operator. A spokesperson for Shell Petroleum Development Corporation said the action came into effect on Monday afternoon after Heritage Energy Operational Services Limited shut down the Trans Forcados pipeline which it operates on April 4. The statement did not provide further details.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nigeria Centre for Disease Control has confirmed 14 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 288.

The NCDC confirmed the latest figure -the 14 cases, 13 were confirmed in Lagos while Delta recorded a new case.

Lagos has 158 case, while Abuja has 54. Other states where COVID-19 cases have been confirmed include Osun with 20, Edo with 12, and Oyo with 11 cases. Bauchi has six cases, Akwa Ibom and Kaduna have five, Ogun has four, while Enugu, Eiti, Rivers, Kwara and Delta States have two each. Benue, Katsina and Ondo have a case each.

The NCDC also said 51 patients have been discharged with seven deaths recorded.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

Meanwhile, the Lagos State Government has disclosed plans to review the 2020 budget of 1.168 trillion naira following the current economic challenges as a result of the COVID-19 pandemic.

The Commissioner for Economic Planning and Budget, Sam Egubesaid the review became necessary in view of the slump in world oil prices as well as the reduction in the Internally Generated Revenue of the state.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

President Muhammadu Buhari has urged Nigerians to remain faithful and hopeful as the nation fights the curb the spread of coronavirus in the country. President Buhari, in his Easter message to Nigerians, expressed hope that the nation shall pull through this most difficult trial.

The president urged all stakeholders – individuals and groups – to play their part to the fullest as advised by scientists and medical experts in confronting COVID-19. He also commended and identified the encouraging containment and ameliorating strategies put in place by members of the Presidential Task Force to combat COVID-19.

---

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

Learn more about your ad choices. Visit megaphone.fm/adchoices