Country: Nigeria
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With Inventories of Chinese-made Products Running Low Across Africa, Shop Owners Wonder What’s Next
China-Africa trade has essentially come to a halt due to the worsening COVID-19 outbreak around the world, adding new pressure on small business owners across Africa who make a living selling imported Chinese goods. Now with inventories running low, shopowners are wondering how they're going to replenish ...
As Oil Prices Tumble, COVID-19 Rapidly Escalates From a Health Crisis to a Full-Blown Economic Crisis in Africa’s Crude-Exporting Countries
When oil trading started today in Asia, sellers moved quickly to unload their positions prompting a "cataclysmic collapse" that saw prices plunge by a stunning 31%, the single largest price drop in almost 30 years. The sell-off ...
Price Gouging, Illegal Sales to China Make it Difficult for Africans to Protect Themselves Against Infection
Face masks, hand sanitizers and other protective gear against infection from the deadly COVID-19 are becoming harder to find in many African cities as speculators hoard supplies and sell them overseas. Meantime, when they are available, prices have reportedly surged so high in some pharmacies putting them ...
With Inventories Running Low, Businesses Across Africa Worry About What’s Next
The near-halt in aviation and shipping links between China and Africa is causing severe disruptions in the supply chain that stocks the inventories of countless businesses across the continent. Merchants of all sizes and in all sectors are now scrambling to find other suppliers to replace the ...
Bloomberg: West African Crude Shipments to China Set to Plunge Next Month by 10 Million Barrels
West African oil exports to China are expected to fall dramatically next month, by as much as 10 million barrels, according to oil traders interviewed by Bloomberg. If this happens (and it is speculation at this point) it would reduce West Africa's monthly volume ...
Tweet of the Day: It’s Been a Good Week for Huawei in Africa
Just days after Safaricom acting CEO Michael Joseph brushed off U.S. concerns about using Huawei equipment on its new 5G network in Kenya, the Chinese telecom giant also received good press in Nigeria for the company's corporate social responsibility initiatives.
Prices for African Exports to China Fall Precipitously, While the Cost of Chinese Imports Surges
The dramatic economic slowdown underway now in China due to the COVID-19 outbreak is acutely felt now across Africa's economies in ways both large and small. Given the close economic ties between China and the overwhelming majority of African countries, the scale of the impact is expected ...
Africa Not Prepared to Deal With the Consequences of Economic Disruption in China
The Chinese economy is undergoing unprecedented economic disruption due to the ongoing COVID-19 crisis and African countries are largely unprepared for the impact that it's going to have on their economies. The prices of most major commodities oil, timber, copper that ...
Public Pressure Mounts on African Governments to do Something About Students Trapped in Wuhan
The plight of Kenya's students trapped in Wuhan, China is now a regular topic of discussion on primetime TV news programs adding new public pressure on the government to act. Similarly, hashtags like #NigeriansTrappedInWuhan are gaining popularity as students in Wuhan post increasingly ...
African Students in Wuhan Will Soon Reach a Breaking Point
It's totally understandable why Kenya, Ghana and most other African governments have been reluctant to repatriate their students from Wuhan. These countries are struggling to fortify their defenses against a COVID-19 outbreak and the prospect of bringing home hundreds of potentially infected students is no doubt daunting. ...
Nigeria Doesn’t Want to Have to Choose Between the U.S. & China
Tensions between the United States and China have deteriorated significantly in recent years amid bitter disputes over trade, technology and geopolitical competition around the world. Other countries are increasingly being drawn into this rivalry and either directly or indirectly forced ...
Cries for Help From African Students Stranded in Wuhan Are Growing Louder but Their Governments Are Still Not Going to Bring Them Home
While Chinese and African government officials offer regular reassurances that African students stranded in China, particularly in Wuhan, are being well-looked after, those students are now issuing increasingly dire cries for help on social media. The students ...