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By Abdul Rahman Bangura – NEW AFRICA DAILY NEWS ( NADN ) Freetown, Sierra Leone- Windfalls to the Maritime Sector of Nigeria, as the sector earned a prominent upswing as the recently developed multimillion dollars state of the art Mobile Harbor Cranes (MHCs) by APM Terminal and were commissioned by Hadiza Bala Usman – Managing Director of Nigeria Ports Authority. Besides, the cranes are fraction of APM Terminals’ supplementary interest of $80 million (N33.6billion) for the 2020-2021 geared toward at improving shipment liturgy delivery in the port. This gives rise to the total enterprise by the corporation in Apapa since 2006 to $438 million (about N184billion). The Managing Director of the Nigeria Ports Authority – Hadiza Bala Usman in the circumstance of executing the commissioning,...

By Abdul Rahman Bangura – NEW AFRICA DAILY NEWS ( NADN ) Freetown, Sierra Leone- The Executive Board of the International Monetary Fund(IMF) has recommended the allotment of $130 million (SDR 95.680 million) to be brought out under the Rapid Credit Facility to boost Mauritania to withstand with the Novel Coronavirus (COVID-19) pandemic. The financial and public effect of the plague is hastily scary, with a constriction of outcome foreseen in 2020. The IMF’s disaster aid, will give supplementary aids for health assistance and public safety programs. The Executive Board of the International Monetary Fund (IMF) ratified the distribution about $130 million to be drawn under the Rapid Credit Facility (RCF). The RCF funds will go a very long way to support Mauritania’s pressing equilibrium...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- AUDA-NEPAD Chief Executive Officer Dr. Ibrahim Assane Mayaki and Ecobank Group Chief Executive Officer Mr. Ade Ayeyemi have agreed to collaborate on a Continental initiative to support African Micro and Small-Medium Enterprises (MSMEs) as they face the economic and social challenges posed by the COVID-19 pandemic. The objectives of the initiative are to create a one-stop platform which will address the issues, challenges and needs of MSMEs during and post COVID-19, and be an all-encompassing, flexible and comprehensive one-size-fits-all tool for MSMEs in the formal and informal sectors across the continent. Identify opportunities and innovative ways to support and protect MSMEs and job opportunities, especially in food and...

By Abdul Rahman Bangura – NEW AFRICA DAILY NEWS ( NADN ) Freetown, Sierra Leone- A department of the Commercial International Bank (CIB) Egypt – the lender has earned majority stake in Mayfair Bank. The Commercial International Bank of Egypt (CIB) has finalized the 51% obtainment of Tier III lender Mayfair Bank – the Central Bank of Kenya (CBK) verified on Friday, April 24th, 2020. The Central Bank of Kenya has authorized the agreement enabling the London Stock Exchange (LSE) listed lender to assume 51% shareholding on May 1, 2020. The Egyptian Bank which controls assets worth USD24.18 billion (Ksh2.45 trillion) will be the first lender from its nation to set up presence in the country. Mayfair Bank virtually regulates investments worth Ksh8.2 billion and administers five...