Coronavirus pandemic: Can Lebanon afford a shutdown?
Lebanon is facing an unprecedented financial crisis, amid months of widespread public discontent. It's now confronted with the COVID-19 outbreak and its potential economic repercussions. Earlier in March, Lebanon failed to repay $1.2 billion in outstanding bonds. The country is also struggling to cope with dwindling foreign currency reserves and double-digit inflation. We speak to Dan Azzi, a former chairman of Standard Chartered Bank. He explains that the restrictions imposed around the world due to the
Japanese shoppers stock up on supplies over coronavirus fears
A supermarket in Tokyo is packed with shoppers Friday morning and many shelves are emptied as Tokyo's governor urges people to stay home this weekend, warning of a possible "explosion" of the coronavirus after scores of new cases were discovered this week.
Zenith seeks to expand Nigeria’s insurance base with mobile service
Managing Director and CEO of Zenith Insurance, Kehinde Borisade says the recently launched USSD code gives the opportunity to expand the insurance base of Nigerians to benefit from insurance services. CNBC Africa’s Christy Cole caught up with Kehinde Borisade to discuss what to expect from the mobile insurance service.
Nigeria to cut 2020 budget by N1.5tn in light of COVID-19
Governments across the globe are pouring increasing stimulus packages into their economies to minimise the adverse impact of the coronavirus pandemic. Chamberlain Peterside, CEO of Xcellon Capital Advisors and Femi Oladehin, Investment Banking Partner at Argentil Capital Partners both join CNBC Africa to discuss Nigeria’s defence tactics against this pandemic.
Global markets continue slide on COVID-19, oil price war
Global central banks unveil bigger spending measures to counter the effects of the coronavirus outbreak – this comes as OPEC and the International Energy Agency warn that developing countries could lose up to 85 per cent of oil and gas income this year. Gbite Oduneye, Co-Founder of Eagle Global Markets joins CNBC Africa to breakdown the impact of the global pandemic on markets.
Lagos investigates gas plant explosion, may review 2020 budget
As residents and Nigeria’s state-owned oil company NNPC contest the cause of Sunday’s explosion, Lagos State Governor, Babajide Sanwo-Olu says the state has set up a fact-finding committee on the incident. CNBC Africa caught up with him at the site of the incident where he shared plans to open an emergency two billion Naira fund, and disclosed that the state may have to adjust its 2020 budget.
How COVID-19 is impacting the Nigerian economy
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has called for an emergency press briefing where he is expected to address growing concerns around the impact of the coronavirus pandemic. Johnson Chukwu, CEO of Cowry Asset Management joins CNBC Africa for more.
COVID-19 mitigation: Has Nigeria’s Central Bank done enough to protect the economy
As five more COVID-19 cases were confirmed in Nigeria on Wednesday, the government swung into action and made some swift reforms which include the reduction of petrol pump price – a N1.5 trillion cut in the 2020 budget and a travel ban on 13 countries with high COVID-19 infection rates. The Central Bank of Nigeria also announced a N1.1 trillion intervention fund to boost the economy. Adeoye Adefulu, Partner at Odujinrin and Adefulu and Kola Masha, Managing Director of Babban Gona both join CNBC Africa to discuss how these moves would impact some key sectors of the Nigerian economy.