South African Airways to layoff 5,000, offers severance packages to all staff

South African Airways (SAA) is offering severance packages to its entire workforce of around 5,000 workers, a proposal by the airline’s administrators showed, after the government...

List of Contributors to the CACOVID Relief Fund As At Friday, April 17, 2020

IMF/WB Development Committee backs G20 debt service suspension initiative, Nigeria makes case for IDA

Minister of finance Zainab Ahmed said a debt relief agreement reached at the ongoing IMF/World Bank Group virtual Spring Meetings to help the world’s poorest countries...

“We expect COVID-19-related projects in 100 countries by end of April— David Malpass

World Bank Group President David Malpasshas said that the multilateral institution expects to have COVID-19 projects in 100 countries before the end of April 2020. Delivering...

COVID-19: NIMASA extends certificate validity for seafarers, move geared towards keeping them in job – Jamoh

The Nigerian Maritime Administration and Safety Agency (NIMASA) has extended the validity of Statutory and Trading certificates for all Nigerian Registered vessels. These include Standards of...

Park Vega set to launch West Africa’s largest Water Park

Park Vega, a member of IAAPA, International Association of Amusements & Attractions, and WWA (World Waterparks Association), is now the first international standard water park in...

The Bullish trend continues at Nigerian Stock market as investors gain ₦7.8bn

Today, the local bourse sustained its uptrend, advancing 7bps to close at 22,554.84 points following gains in MTNN (+3.6%), NESTLE (+10.0%) and DANGCEM (+2.2%). Consequently, market capitalisation was up ₦7.8bn  to settle...

CBN develops, short, medium, long term measures to insulate economy from covid-19 induced recession—Emefiele

Central Bank Governor Mr. Godwin Emefiele said the CBN has developed a short, medium and long term Policy Response Timeline to guide the apex bank crises...

Sub-Saharan Africa M&A transactions totalled $4.8 bn in Q1 2020

Refinitiv 2020 first quarter investment banking analysis for Sub-Saharan Africa showed that investment banking fees in the region reached an estimated $128.2 million during the first...

COVID-19 crisis may reverse gains, weigh on growth for years in Africa—IMF

International Monetary Fund IMF has said that Sub-Saharan Africa is facing an unprecedented health and economic crisis. The IMF in its  Regional Economic Outlook for Sub-Sahara...