All Tunisian companies listed on the local stock exchange posted an overall result down by 31.2% over the first six months of 2020. The Tunis Stock Exchange attributes the situation to the slowdown caused by covid-19 and its repercussions on the economy. Of the 64 companies taken into account, 20 reported negative results and 44 posted positive results. Of the 12 banks that reported their...

The Sudanese government will increase fuel prices in the country, Khairy Abdel-Rahman, the Minister of Energy and Mines reported. According to the official, prices will be doubled. The pump price of locally produced diesel will rise to 46 Sudanese pounds ($0.8364) per liter from 23 pounds previously while the price of gasoline will increase from 28 to 56 pounds. According to the authorities,...

The government of Nigeria says it has plans to build ten new airports across the country. This was announced this week by Hadi Sirika (pictured), the Minister of Aviation.  According to the official, the new plan aims at boosting civil aviation and improving the performance of the Nigerian aviation sector which has already undergone several restructuring attempts in recent years. The new...

The incumbent telecom operator, Telecom Egypt, announced the construction of Egypt's largest international data center. The Tier 3 technology infrastructure - offering higher levels of availability and technical resilience - will accommodate up to 2,000 racks in a complex of four modular facilities. It is located in the Smart Village, west of Cairo. Telecom Egypt says the new data center will be...

With $44.6 billion, African countries are the biggest contributors to the battle against Covid-19 on the continent. The figures were reported by Bartholomew Armah (pictured), an economist and Chief Development Planning, Macroeconomics and Governance Division - UN Economic Commission for Africa. The second-largest contributor is the International Monetary Fund with about $16 billion....

Zimbabwe announced a gradual reopening of its land borders starting December 1. In the first phase, the measure will only concern pedestrians and private passenger vehicles. And only six border posts, including Beitbridge, will be operational, the government said. “Cabinet resolved that the opening of border posts be phased, beginning with Beitbridge, Plumtree, Victoria Falls, Chirundu,...

Foreign Direct Investment (FDI) flows in Africa dropped by 28% over the first six months of 2020, a UNCTAD report issued on October 27 showed. The situation is, according to the document, mainly due to the Covid-19 pandemic which disrupted the global economic activity. Between January and June 2020, FDI flows on the continent reached $16 billion compared to $23 billion over the same...

South Africa’s land and agricultural development bank is likely to receive between R1.5 billion and R2 billion (about $92-122 million) from the National Treasury in a bailout plan. According to sources close to the matter cited by Bloomberg, the new disbursement is part of a vast plan to provide financial support to struggling public enterprises such as South African Airways and Denel,...

The Rwandan government announced plans to raise $638 million to tackle non-communicable diseases. According to Health Minister Daniel Ngamije (pictured), the money will be injected in a new NCD campaign which aims to reduce premature mortality due to these types of diseases by 25% over the next five years. Actions will focus on prevention through health promotion and the reduction of risk...

Seed producer -Seed Co International Limited (SCIL)- which is secondary listed on the Zimbabwe Stock Exchange (ZSE), has announced its willingness to migrate to the country's new stock exchange. The company will thus become the first to be listed on the Victoria Falls Stock Exchange (VFEX), Food Business Africa reports. VFEX is fully managed by the main stock exchange ZSE and the securities...