Africa Briefs
SA state firms seek billions in bailouts
South African state companies the Post Office and broadcaster SABC have requested billions of rand in financial support, the National Treasury said in a presentation to parliament yesterday.
The Treasury said the Post Office had requested R4.9 billion in support and SABC was seeking R1.5 billion because of the impact of the Covid-19 pandemic.
It added that state agricultural lender Land Bank, which defaulted earlier this year, had resumed interest payments to lenders from Aug. 11. – Nampa/Reuters
Zim tobacco sales down 23.5%
Sales of Zimbabwe's tobacco, the second largest foreign currency earner, fell 23.52% to 178.7 million kilogrammes this year, official data showed on Monday, after production was affected by lower rainfall.
The tobacco auction season, which ended on Friday, traditionally leads to improved foreign exchange inflows in the Southern African nation as buyers bring in US dollars to purchase the crop.
The Tobacco Industry and Marketing Board said farmers delivered 178.7 million kg at the close of auctions compared to 233.6 million kg during the same period last year.
Although this year's crop was smaller, firmer prices helped farmers earn US$460.7 million, more than the US$447 million they got year.
Tobacco is the second single biggest foreign currency earner after mining. Demand from China, the world's biggest smoking nation, and funding from private tobacco companies have helped drive output, which had plunged to its lowest in 2008. – Nampa/Reuters
Ghana reopens international airport
Ghana reopened its international airport yesterday but with new regulations in place to curb the spread of the coronavirus, the president announced.
Kotoka International Airport, located outside the capital Accra, was closed in March along with other border points in a bid to contain the virus in the west African country.
Land borders would remain closed.
Any passenger arriving in Ghana must be in possession of a negative Covid-19 PCR test result from an accredited laboratory in the country of origin. The test should have been done not more than 72 hours before their departure.
All airlines are to ensure compliance with the directive for passengers wishing to travel to Ghana.
In addition, arriving passengers must undergo a Covid-19 test at the airport terminal at their own cost, though children under five will be exempt. – Nampa/AFP
Nigeria sets capital rules for mobile money licences
Nigeria's central bank said it will grant more licences for payment service banks but set a minimum capital base of US$13 million, which could deter telecoms firms and some other potential new entrants to the digital financial services sector.
The central bank in a circular seen by Reuters on Monday said that telecom firms, banking agents, retail chains and postal services could apply for licences to become payment banks. To do so they must set up a separate company for it with a minimum capital of 5 billion naira (US$13 million) and run it as an independent entity from their existing operations.
The bank has granted three licences so far to 9PSB, a unit of local telecom firm, 9mobile, and two others. – Nampa/Reuters
South African state companies the Post Office and broadcaster SABC have requested billions of rand in financial support, the National Treasury said in a presentation to parliament yesterday.
The Treasury said the Post Office had requested R4.9 billion in support and SABC was seeking R1.5 billion because of the impact of the Covid-19 pandemic.
It added that state agricultural lender Land Bank, which defaulted earlier this year, had resumed interest payments to lenders from Aug. 11. – Nampa/Reuters
Zim tobacco sales down 23.5%
Sales of Zimbabwe's tobacco, the second largest foreign currency earner, fell 23.52% to 178.7 million kilogrammes this year, official data showed on Monday, after production was affected by lower rainfall.
The tobacco auction season, which ended on Friday, traditionally leads to improved foreign exchange inflows in the Southern African nation as buyers bring in US dollars to purchase the crop.
The Tobacco Industry and Marketing Board said farmers delivered 178.7 million kg at the close of auctions compared to 233.6 million kg during the same period last year.
Although this year's crop was smaller, firmer prices helped farmers earn US$460.7 million, more than the US$447 million they got year.
Tobacco is the second single biggest foreign currency earner after mining. Demand from China, the world's biggest smoking nation, and funding from private tobacco companies have helped drive output, which had plunged to its lowest in 2008. – Nampa/Reuters
Ghana reopens international airport
Ghana reopened its international airport yesterday but with new regulations in place to curb the spread of the coronavirus, the president announced.
Kotoka International Airport, located outside the capital Accra, was closed in March along with other border points in a bid to contain the virus in the west African country.
Land borders would remain closed.
Any passenger arriving in Ghana must be in possession of a negative Covid-19 PCR test result from an accredited laboratory in the country of origin. The test should have been done not more than 72 hours before their departure.
All airlines are to ensure compliance with the directive for passengers wishing to travel to Ghana.
In addition, arriving passengers must undergo a Covid-19 test at the airport terminal at their own cost, though children under five will be exempt. – Nampa/AFP
Nigeria sets capital rules for mobile money licences
Nigeria's central bank said it will grant more licences for payment service banks but set a minimum capital base of US$13 million, which could deter telecoms firms and some other potential new entrants to the digital financial services sector.
The central bank in a circular seen by Reuters on Monday said that telecom firms, banking agents, retail chains and postal services could apply for licences to become payment banks. To do so they must set up a separate company for it with a minimum capital of 5 billion naira (US$13 million) and run it as an independent entity from their existing operations.
The bank has granted three licences so far to 9PSB, a unit of local telecom firm, 9mobile, and two others. – Nampa/Reuters
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