Ghana launches Covid-19 tracker

Ghana launches Covid-19 tracker

Ghana launches Covid-19 tracker

Ghana has launched a Covid-19 tracker app in its bid to fight the coronavirus. The country’s vice-president, Dr Mahamadu Bawumia, who is also chairman of Ghana’s Covid-19 daily monitoring team, said the government’s reliance on data of cases has become Ghana’s biggest weapon in the fight against the coronavirus. “Data is our most powerful weapon in the fight against Covid-19.…

Ghana and Kenya businesses get solar boost through Covid-19 crisis

Ghana and Kenya businesses get solar boost through Covid-19 crisis

Ghana and Kenya businesses get solar boost through Covid-19 crisis

REDAVIA, a provider of solar power for businesses, has created a new concessionary solar power programme, the Covid-19 Resilience Lease, to stand by Ghanaian and Kenyan businesses in this difficult time of economic uncertainty. Covid-19 has disrupted African businesses significantly, so REDAVIA has introduced the Covid-19 Resilience Lease, which provides solar power plants to business customers for six months, completely…

Global funding to fight coronavirus exceeds all but HIV and tuberculosis

Global funding to fight coronavirus exceeds all but HIV and tuberculosis

Global funding to fight coronavirus exceeds all but HIV and tuberculosis

Research from R&D tax credit specialists, RIFT Research and Development, has found that funding to fight the Covid-19 virus already eclipses the average annual funding dedicated to all diseases other than HIV and tuberculosis. The World Health Organization calculates that some £283.9m has already been donated to help fund the fight against Covid-19, with a further £48.5m pledged, to give…

Race to feed South Africa must turn from marathon to sprint

Race to feed South Africa must turn from marathon to sprint

Race to feed South Africa must turn from marathon to sprint

The emerging lockdown risks of civil unrest and an increase in crime related to food scarcity have turned into reality, the Institute of Risk Management South Africa (IRMSA) has warned. It added that these incidents of unrest and crime are arising due to lockdown restrictions, which have caused a disruption of regular food distribution patterns and reduced or removed the…

World Bank pandemic bonds will be triggered if virus cases escalate in developing world

World Bank pandemic bonds will be triggered if virus cases escalate in developing world

World Bank pandemic bonds will be triggered if virus cases escalate in developing world

The World Bank’s pandemic bonds, which could provide $132.5m of funds to countries within the International Development Association (IDA) and International Bank Reconstruction and Development (IBRD), will be triggered and paid out – but only if reported cases of coronavirus continue to escalate rapidly in the developing world, as cases in China and Europe show welcome signs of plateauing. Credit…

SSA recession likely post Covid-19

SSA recession likely post Covid-19

SSA recession likely post Covid-19

Growth in sub-Saharan Africa (SSA) has been significantly impacted by the ongoing coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1% to -5.1% in 2020, the first recession in the region in the past 25 years, according to the latest Africa’s Pulse, the World Bank’s twice-yearly economic update for the region. Hafez Ghanem, World Bank…

AfDB weighs in to fight Covid-19 across Africa

AfDB weighs in to fight Covid-19 across Africa

AfDB weighs in to fight Covid-19 across Africa

The African Development Bank Group (AfDB) has launched a Covid-19 Response Facility to assist regional member countries in fighting the pandemic. It is the latest measure taken by the bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address the crisis. It provides up to $10bn to governments and the private sector.…

Fall in global trade could rival Great Depression, warns WTO

Fall in global trade could rival Great Depression, warns WTO

Fall in global trade could rival Great Depression, warns WTO

World trade is forecast to plummet by between 13% and 32% in 2020 as it is hit by Covid-19, said the World Trade Organisation (WTO). Describing the numbers as “ugly”, WTO director-general Roberto Azevêdo said the impact on trade is likely to exceed the 2008-2009 financial crisis and could reach the depths of the Great Depression in the 1930s. According…

South Africa has a week to avoid civil unrest, warns IRMSA

South Africa has a week to avoid civil unrest, warns IRMSA

South Africa has a week to avoid civil unrest, warns IRMSA

Civil unrest and a likely increase in crime are brewing if South Africa does not solve the food security problems already emerging due to coronavirus restrictions, the Institute of Risk Management South Africa (IRMSA) has warned. The IRMSA Covid-19 Risk Thinktank highlighted these risks based on risk data modelling and taking into account the unique disparities of South Africa. “It…

Nourredine Lafhel named as acting chief risk officer for African Development Bank

Nourredine Lafhel named as acting chief risk officer for African Development Bank

Nourredine Lafhel named as acting chief risk officer for African Development Bank

The African Development Bank Group (AfDB) has named Nourredine Lafhel as acting chief risk officer. Mr Lafhel, a Canadian national, is currently the sovereign credit and market risk division manager (PGRF3), in the directorate of the group risk management function of AfDB. An experienced risk management professional, he has more than 20 years’ experience in finance and risk management and the bank said he…