BAT’s US bio-techsubsidiary, Kentucky BioProcessing (KBP),is developing a potential vaccine for COVID-19 and is now in pre-clinical testing.If testing goes well, BAT is hopeful that, with the right partners and support from government agencies,between 1 and 3 million doses of the vaccinecould be manufactured per week,beginning in June. While KBP
Read More
The Kenya government will allow importation of four million bags of maize to cushion the country against food shortage as it battles the coronavirus pandemic. Agriculture Cabinet Secretary Peter Munya disclosed that a Gazette Notice will be issued soon to allow importation. Of the four million bags, said Mr Munya,
Read More
Oil tumbled to an 18-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus. Futures in London fell as much as 12.7% to the lowest since March 2002, while New York crude briefly dipped below $20 a barrel.
Read More
Sellers say fearful buyers are choosing local over foreign produce Sales of fresh fish in Kenya have risen as imports from China have dropped amid the coronavirus pandemic. Sellers in Dunga Beach on the shores of Lake Victoria report a jump in trade of about 40% over two weeks. "The
Read More
The United States Embassy in Uganda has issued a health alert to its Nationals in Uganda, with plans to evacuate its citizens as Uganda's cases of patients that tested positive for COVID-19 increasing to 30. “7 new cases of COVID-19 confirmed in Uganda today, Saturday 28 March 2020. This brings the
Read More
International Monetary and Financial Committee Chair Lesetja Kganyago and International Monetary Fund Managing Director Kristalina Georgieva (pictured) issued the following statement following yesterday’s conference call of the International Monetary and Financial Committee. “We are in an unprecedented situation where a global health pandemic has turned into an economic and financial
Read More
The African Development Bank has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa's economies. The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank
Read More
The World Tourism Organization (UNWTO) has released its updated assessment of the likely impact of the COVID-19 on international tourism. Taking into account the unparalleled introduction of travel restrictions across the world, the United Nations specialized agency for tourism expects that international tourist arrivals will be down by 20% to
Read More
The World Bank Group and International Monetary Fund have issued the following joint statement to the G20 concerning debt relief for the poorest countries: The coronavirus outbreak is likely to have severe economic and social consequences for IDA countries, home to a quarter of the world’s population and two-thirds of
Read More
Kenya has banned the importation of second-hand clothes, popularly known as mitumba, as a way of limiting the spread of coronarivus. “Importation of used clothes is suspended with immediate effect to safeguard the health of Kenyans and promote local textiles,” Kenya’s Daily Nation newspaper quoted the Trade secretary, Betty Maina,
Read More
