The African Development Bank has sold a record 3-billion-dollar debt issue as part of efforts to raise financing to help combat the fallout from the coronavirus outbreak.

The three-year bond, known as the Fight COVID-19 Social Bond, is AfdB’s biggest dollar issue to date. A note from a lead manager of the issue says the bond aims to provide “support and financing to countries and businesses fighting against COVID-19. The note adds that through the bond, investors will be able to support African communities to help curb the spread of the virus and overcome the many challenges caused by the outbreak.

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The National Bank of Ethiopia plans to inject 15 billion Ethiopian birr or about 456 million US dollars as liquidity for private banks. This is part of efforts to cushion the economy over the impact of the coronavirus. The funds is also expected to help private banks provide debt relief and additional loans to their customers in need.

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More than 1,000 cases of coronavirus have now been recorded in South Africa. The nation's health ministry disclosed this on Friday while also reporting its first two deaths on the first day of a three-week, natiobnwide lockdown.

In a statement, the health ministry said oth deaths had occurred in the southernmost province of Western Cape, with one in a public hospital and the other in a private hospital.

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Lagos state government has begun the disinfection of markets in the state in a bid to curb further spread of the COVID-19 pandemic. The state government has also turned the popular Onikan Stadium into an isolation center.

The start of the disinfection exercise was announced on Friday in a tweet by the state Environmental Health Officers Association of Nigeria. The association said it will supervise the disinfection process which will be carried out through the Local Government Areas.

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Fourteen new cases of COVID-19 have been confirmed in Nigeria, bringing the total number of cases to 65. The Nigeria Centre for Disease Control in a tweet on Thursday night, said the the additional cases showed that the 12 new patients were discovered in Lagos while the remaining two were confirmed in the Federal Capital Territory. The agency said six of the cases were detected on a vessel and three others were returning travellers into the country while the remaining case was a close contact of a confirmed case.

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The Federal Government has directed that only cargo vessels that have been at sea for more than 14 days should be allowed to dock in Nigeria's ports. The vessels will only be allowed to dock after the crew have been tested and confirmed to be coronavirus-free by the Port Health Authorities.

In a series of tweets, President Muhammadu Buhari said the 14-day restriction does not apply to vessels carrying oil and gas products as by their nature, there is minimal human contact.

He also announced the suspension of the movement of commuter trains to limit the spread of the virus to other parts of the country.

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President Muhammadu Buhari has approved the immediate release of 15 billion naira to Lagos State and the Nigeria Centre for Disease Control to tackle the spread of COVID-19 in the country. The President, in a thread of tweets, said the approval followed the extensive briefings he received recently on the state of the nation. President Buhari ordered the sum of 10 billion naira to be immediately released to Lagos State while the remaining 5 billion naira is to be paid as a special intervention fund to the NCDC.

He said the Nigerian Air Force was already making its fleet available to the Presidential Task Force on Covid-19, to enable a better coordinated and more effective response.

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Meanwhile, the naira eased to a new low of 385 naira, 39 cents per dollar on the over-the-counter spot market on Friday. This comes as importers scramble for dollars to meet existing obligations.

The Nigerian curerncy has been hitting new lows this week on the spot market after the central bank last week devalued the official exchange rate.

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The Central Bank of Nigeria has granted a two-week market holiday to the Bureau De Change operators. In a statement, President of the Association of Bureau De Change Operators, Aminu Gwadabe, said the grant comes into effect from Friday, March 27.

According to him, it follows a request sent to the apex bank to grant the association market holidays given the ongoing challenges faced in local and global economies due to the impact of the COVID -19 pandemic. He advised the public not to go into panic buying, hoarding and patronising street traders as the apex bank has enough reserves to sustain supplies when the BDCs return to full operations.

Meanwhile, the naira eased to a new low of 385 naira, 39 cents per dollar on the over-the-counter spot market on Friday. This comes as importers scramble for dollars to meet existing obligations.

The Nigerian curerncy has been hitting new lows this week on the spot market after the central bank last week devalued the official exchange rate.

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French business confidence plunged at a record pace in March as shutdowns to contain the coronavirus have left the economy running at 65% of normal activity. The French statistics office, Insee, on Thursday, said the index fell to 95 in March from 105 the month before. The drop echoes that seen in Germany in figures earlier this week, and reflects French President Emmanuel Macron’s move to put the country in lockdown in an effort to contain the spread of the virus.

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