Fitch affirms Guaranty Trust Bank at ‘B’; off RWN; Outlook Stable

GTBank Fitch ratings

Fitch Ratings has affirmed Guaranty Trust Bank (GTB) Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and removed it from Rating Watch Negative (RWN). The Outlook is Stable. The removal of GTB‘s Long-Term IDRs, Viability Rating (VR) and National Ratings from RWN reflects Fitch’s view of receding near-term risks to the bank’s credit fundamentals from the economic fallout arising from the oil price crash and coronavirus pandemic. In our opinion, the impact of the economic downturn on GTB‘s credit profile is tolerable at the current rating and it will take several quarters before the…

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APO Group partners Opera to provide Africans with credible COVID-19 information

APO, Opera, Covid-19, Coronavirus

Pan-African communications consultancy, APO Group, has partnered with Opera to “boost the prominence of truthful news articles” related to the spread of COVID-19 across Africa. The two partners disclosed this on Thursday in a joint press release. The collaboration will see the APO Group Newsroom website integrated into the Opera News platform, providing around 200 million Opera users in the region with official information from trusted and reputable online sources. The goal is to “reduce the consumption of misleading news articles that include deliberate disinformation about the pandemic” in different African countries, they said. “Providing the…

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EU grants €314 million to innovative companies to combat coronavirus

European Union, European Commission, coronavirus, innovative companies, grant

Coronavirus The European Commission announced Monday that it has awarded nearly €166 million, via the European Innovation Council (EIC) Accelerator Pilot, to 36 companies set to combat the Coronavirus pandemic. In addition, over €148 million will be granted to another 36 companies set to contribute to the recovery plan from Coronavirus for Europe, bringing the total investment from Horizon 2020, the EU’s research and innovation programme, to €314 million in this round. Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said: “The enormous talent and breakthrough ideas of…

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Amidst pandemic, Nigerian doctors embark on nationwide strike June 15

Coronavirus, Doctors, Strike, NARD, Pandemic

The National Association of Resident Doctors of Nigeria (NARD) will commence a nationwide strike on Monday, June 15, 2020 despite ongoing struggle against Coronavirus pandemic in the country. Doctor Aliyu Sokomba, National President of NARD, said this in an official letter with reference number NARD/SG/2019-2020/070620/246. Sokomba said the association found it necessary to take “the painful decision” following the inability of the government to meet its demands. He said, “Consequent upon the 14 days ultimatum duly served the Federal Government for indefinite strike action, in accordance with the resolution of…

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COVID-19 Funds: CBN disburses N107.45bn to beneficiaries

N15trn InfraCo begins operation this quarter

At least N107.45 billion has been accessed by beneficiaries from the N1.15 trillion Central Bank of Nigeria’s (CBN’s) COVID-19 pandemic intervention funds within the last 90 days, data by the apex bank has indicated. The data showed that close to 6,000 beneficiaries, comprising organisations and individuals, had accessed the loans so far. The various CBN COVID-19 intervention funds include, the N100 billion healthcare sector intervention fund, the N1 trillion intervention targeted at agriculture and manufacturing firms, and the N50 billion targeted credit facility for households and SME’s. The CBN data…

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MainOne, AWALE collaborate to support CIV’s fight against pandemic 

MainOne, AWALE collaborate to support CIV’s fight against pandemic 

MainOne has partnered with AWALE to support the Crisis Cell of the Ivoirian government in its fight against the COVID-19 pandemic. While AWALE is a neutral network operator that provides high speed data transmission capacity via its fiber optic cables installed on the national transport and electricity, MainOne prides itself as West Africa’s leading connectivity and data center provider. This measure of solidarity will reinforce the emergency deployment plan of the Ministry of Digital Economy and Postal Services of the country, MainOne said in a statement on Wednesday. The joint…

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