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May
07
2021
By The African Mirror
EXPERT VIEWS: U.S. vaccine patent waiver: a “game changer” for the global south?

EXPERT VIEWS: U.S. vaccine patent waiver: a “game changer” for the global south?

WORLD
ANURADHA NAGARAJ, ANASTASIA MOLONEY and KIM HARRISBERG THE United States' announcement that it backs waiving intellectual property (IP) protections for COVID-19 vaccines could be a "game-changer" in the global fight to control the pandemic, health experts said on Thursday. The surprise move comes amid fears that India's escalating coronavirus crisis, along with new variants circulating in India and elsewhere, could stymie efforts to curb the disease unless vaccination levels are rapidly ramped up worldwide. South Africa and India are leading efforts to temporarily waive patent protections for COVID-19 vaccines and medicines at the World Trade Organisation (WTO) in order to…
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Oct
14
2020
By The African Mirror
Extension of G20 debt freeze would be very beneficial – Angola

Extension of G20 debt freeze would be very beneficial – Angola

BUSINESS
ELIZABETH HOWCROFT and MARCH JONES EXTENDING  a scheme by major economies to halt billions of dollars in debt service from poor nations during the coronavirus crisis would be very helpful, Angola's finance minister has said, promising a lean approach from her country. The G20 group's Debt Service Suspension Initiative (DSSI) has since April helped more than 40 developing world nations defer at least $5 billion in official debt payments. An extension is expected in coming days, though it might only be until the middle of 2021 rather than the end as debtor nations had hoped. "We are very keen... to…
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Sep
23
2020
By The African Mirror
Uganda’s public debt surges in coronavirus crisis, central bank says

Uganda’s public debt surges in coronavirus crisis, central bank says

BUSINESS
ELIAS BIRYABAREMA UGANDA’S public debt surged 20.5% in the 12 months to June as the east African country soaked up new credit to help deal with the economic impact of COVID-19, the central bank said on Tuesday. The new loans mostly came from international lenders including the World Bank and the International Monetary Fund (IMF). As of the end of June, Uganda's public debt was 56.5 trillion shillings ($15.33 billion), the Bank of Uganda (BoU) said in a report. About two thirds of the debt is held by external creditors, and the public debt is now 40.8% of GDP. The…
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Sep
01
2020
By The African Mirror
Kenya central bank to rule on 2020 dividend issuance by banks

Kenya central bank to rule on 2020 dividend issuance by banks

BUSINESS
KENYA'S central bank will have to approve any plans by commercial lenders to issue dividends for this year it said in a memo to bank executives, an unusual move caused by the coronavirus crisis. Lenders in the East African nation have seen their earnings plunge in the first half of this year, hit by higher provisions for bad loans, on the back of the COVID-19 pandemic. They have also had to restructure more than a quarter of total customer loans, to provide relief to individuals and firms hit by the disruptions. All lenders are required to resubmit their internal capital…
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