Newsfeeds Africa Business Communities

1. African Energy Chamber appoints Elizabeth Rogo President of East African region

   The African Energy Chamber has appointed Eng. Elizabeth Rogo, Founder & CEO of TSAVO Oilfield Services, as its President for East Africa.

2. World Bank approves $14.25 million in support of Rwanda's response to COVID-19

   The World Bank approved $14.25 million International Development Association (IDA) credit in immediate funding to support Rwanda’s response to the global COVID-19 pandemic

3. ROSATOM inks long-term contract for supply of nuclear fuel components to ETRR-2 reactor in Egypt

   Novosibirsk Chemical Concentrates Plant, an enterprise of ROSATOM’s TVEL Fuel and the Egyptian Atomic Energy Authority have signed 10-years term contract for supply of low-enriched nuclear fuel components.

4. [kenya] CBK takes regulatory action against Absa Bank over forex transactions

   The Central Bank of Kenya (CBK) has taken regulatory action against Absa Bank Kenya PLC (Absa Kenya), following Absa Kenya’s failure to provide information about some specific foreign exchange trades that it conducted in March 2020.

5. [Kenya] CMA admits CDSC to its Regulatory Sandbox

   The Capital Markets Authority (CMA) has admitted the Central Depository and Settlement Corporation (CDSC) to the Regulatory Sandbox to test its proposed screen-based Securities Lending and Borrowing (SLB) platform.

6. African Development Bank unveils $10 billion Response Facility to curb COVID-19

   The African Development Bank announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic.

7. African Development Bank offers technical assistance for development of mini green energy grids in Guinea

   The African Development Bank, through its Sustainable Energy Fund for Africa approved a grant of 830,000 US dollars to support the Guinean Agency for Rural Electrification in the establishment green mini-grid projects.

8. SAA Cargo uses passenger aircraft to transport essential cargo during lockdown in South Africa

   The Cargo division of South African Airways, SAA Cargo, has for the first time in its history operated a passenger aircraft for a pure cargo uplift.

9. COVID-19 drives Sub-Saharan Africa towards first recession in 25 years, World Bank

   Growth in Sub-Saharan Africa has been significantly impacted by the 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 over the past 25 years, according to the World Bank.

10. Ipelegeng Thibedi appointed Weber Shandwick Africa CEO

    Weber Shandwick announced the appointment of Ipelegeng (Ipi) Thibedi as the new CEO of its African operations.