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<p>In this episode of Focus On: The WomenLift Health Conference, join Norah Obudho, East Africa Director, as she provides exclusive insights into the region&#8217;s contributions and the conference&#8217;s impact on local healthcare leadership.</p>


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East Africa Highlights at WomenLift Health Conference 2024

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<p>On the story of the day &#8211; Sahara Group looks to wind turbines at the Egbin Power plant in Lagos to reduce carbon emissions. Using the operational potential of the 15 wind turbines installed at Egbin Power, the company says they would reduce an estimated 35,793,360g of CO2 annually,”</p>


Sahara Group looks to wind turbines to reduce carbon emissions

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<p>The use of Artificial Intelligence (AI) in education has seen an increase in recent years. The rapid development of this new technology is having a major impact on education. In this edition of Edtech Mondays we will talk about the applications and benefits of AI in the education sector, the necessary implementation frameworks, the policy support and also seek to hear from the end users on the impact AI has or would have.</p>


EdTech Monday: Artificial Intelligence in Education

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<p>On the side-lines of the Rwanda-Zimbabwe Business Forum, dignitaries gathered for a Panel Discussion on Enhancing Business Linkages Between Rwanda &#038; Zimbabwe, Unveiling Opportunities on CNBC Africa.</p>


Rwanda-Zimbabwe Business Forum: Enhancing business linkages between Rwanda & Zimbabwe


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="460" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-820x460.png" alt="" class="wp-image-474553" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-820x460.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-300x168.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-160x90.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-768x431.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image.png 992w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



<p>The United Kingdom is backing investment of more than $300 million in South Africa’s green energy transition as the country struggles to end power shortages that nearly tipped its economy into a recession last year.</p>



<p>The UK’s High Commissioner to South Africa Antony Phillipson said the funding through Globeleq, is part of the UK’s $1.8 billion commitment to finance South Africa’s renewables programme under the country’s Just Energy Transition Partnership. Globeleq is majority owned by British International Investment, the UK’s development finance arm.</p>



<p>&#8220;This is a significant investment in South Africa’s future,&#8221; Phillipson told CNBC Africa. &#8220;This will be the biggest standalone battery energy storage system anywhere in Africa and it will also make, as you say, a really significant contribution, I think, to South Africa&#8217;s Just Energy Transition.&#8221;</p>



<p>South Africa has suffered power shortages for the past three years, with the economy almost contracting last year. The government projects the shortages should ease later this year into 2025. The UK is part of a group of Western nations that have committed $8.5 billion to help South Africa’s transition from fossil fuelled power to renewables.</p>



<p>Globeleq says the Red Sand project, which is based in the Northern Cape, will be the largest standalone battery energy storage system in Africa. Globeleq already provides some 1,800 MW of energy in South Africa, Mozambique, Kenya, Tanzania, Cote d’Ivoire, Egypt and Cameroon.</p>



<p>The project is expected to take two years to complete.</p>



<p>&#8220;Electricity storage is going to be key not only in helping South Africa meet its considerable industrial and domestic demand for energy but also across Africa as more renewable energy projects benefit from the advances our industry has made with battery energy storage solution technology,&#8221; Mike Scholey, Globeleq CEO said in a statement.</p>


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UK Funds Africa’s largest battery storage system in South Africa

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<p>Highlights of some of the unforgettable moments for the FORBES WOMAN AFRICA Leading Women Summit 2024. We bring you empowering discussions and inspiring talks by trailblazing women from across the continent and the world.</p>


Highlights Special of the 9th FORBES WOMAN AFRICA Leading Women Summit

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<p>As the Nigerian government embarks on the construction of the 700 kilometer Lagos Calabar coastal road, businesses along the corridor are facing potential losses due to planned demolitions. In this discussion, Paul Onwanibye, CEO of Landmark Group, shares insights on the challenges and strategies for navigating this situation and ensuring a positive outcome for the business and its employees.</p>


A Discussion with Landmark Group CEO

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<p>Dive into the historic Inauguration Day in Senegal, where Basiro D&#8217;Omeri-Fyer becomes the youngest president at the age of 44, marking the 4th Democratic transfer of power since independence. Discover the symbolism behind the number 4 and the promises of the new administration to fight corruption and reform the economy.</p>


Inauguration Day in Senegal

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<p>The Central Bank of Nigeria has set a deadline for all banks in the country to submit their implementation plans for the recapitalization exercise. With new minimum capital requirements and options for banks to meet them, the Nigerian banking industry is gearing up for significant changes. Learn more about the potential impact on the economy and the strategies banks are considering to comply with the new regulations.</p>


Nigeria’s Banking Industry Faces Recapitalization Deadline: The Countdown to April


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="490" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-820x490.jpg" alt="" class="wp-image-473750" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-820x490.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-300x179.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-150x90.jpg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-768x459.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1.jpg 1080w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



<p>The Emerald Group has bought 40% of ABN Publishing, owner of Forbes Africa, one of Africa’s largest business magazines.</p>



<p>The deal will combine Emerald Group’s Forbes Lusophone Africa with Forbes Africa, which is distributed throughout Sub-Saharan Africa. Forbes Africa is a unit of Africa Business News, owners of CNBC Africa, the largest business television station in Africa.</p>



<p>&nbsp;“This investment is another stepping stone in our commitment and long-term strategy for Africa,” N’Gunu Tiny, the Chairman &amp; CEO of the Emerald Group said. “English is the international language of business, and we see a clear path ahead by capitalizing on a global brand such as Forbes to build a media platform for those who are positively impacting the continent by making it more inclusive, sustainable, and prosperous for the current and future generations.”</p>



<p>Sidharth Wahi, the Executive Director of ABN Publishing said the deal would strengthen Forbes Africa’s coverage of the continent, where growth is strengthening after the twin shocks of the Covid-19 pandemic and the Russia Ukraine war. &nbsp;</p>



<p>“The resulting synergies of this strategic investment represent a new growth opportunity by keeping the focus on our core values while at the same time expanding the work started 13 years ago,” he said.</p>


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Emerald Group buys 40% stake in Forbes Africa publisher ABN Publishing


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="575" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-820x575.jpg" alt="" class="wp-image-454022" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-820x575.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-768x539.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-1536x1078.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A man shows off Zimbabwean currency notes outside a grocery store in Harare, Zimbabwe, March 17, 2022.  REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



<p>Zimbabwe says it will re-launch its currency for a sixth time next week, in a bid to reign-in inflation after the latest collapse of the Zimbabwe dollar.</p>



<p>New Reserve Bank of Zimbabwe Governor John Mushayavanhu said the Zimbabwe Gold (ZiG), would replace the last incarnation of the Zimbabwe dollar, and would be backed by a select group of foreign currencies, gold and other precious metals the country produces. The new currency will be introduced next Monday at 13.56 per U.S. dollar.</p>



<p>&#8220;With effect from 5 April 2024, banks shall convert the current Zimbabwe dollar balances into the new currency which shall be called Zimbabwe Gold to foster simplicity, certainty, and predictability in monetary and financial affairs,&#8221; the central bank said in a monetary policy statement. &#8220;The new currency will co-circulate with other foreign currencies in the economy.&#8221;</p>



<p>Zimbabwe’s dollar had lost almost three quarters of its value against the dollar since a relaunch last year, stoking inflation which was measured at 55.3 percent in March versus 47.6 percent the month before. The country has battled to tame inflation since it hit a record 500 billion percent in 2008 when it was forced to abandon the Zimbabwe dollar.</p>



<p>Mushayavanhu replaced John Mangudya as governor last month.</p>



<p>To protect the value of the new currency, Mushayavanhu said he would limit central bank lending to the government &#8212; a key source of the inflation that engulfed the economy in 2008 &#8212; and ensure that reserve money would be fully backed by the country’s equivalent gold and foreign currency reserves.</p>



<p>A strict monetary policy would also be implemented he said, setting the new benchmark rate at 20 percent, down from the current rate of 130 percent. Exporters would be requested to surrender half of their forex receipts for the foreign exchange market with the balance going to the government.</p>



<p>&#8220;The Bank will use 50% of the foreign currency proceeds from surrender requirements for strategic interventions in the foreign exchange interbank market,&#8221; he said. &#8220;The remaining foreign currency will be available to satisfy the Government&#8217;s foreign currency obligations in exchange for ZiG and to build foreign exchange reserves for the Reserve Bank.&#8221;</p>


FILE PHOTO: Zimbabwe’s poor feel the impact of far away Ukraine war

Zimbabwe relaunches currency in latest inflation fight

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<p>Investors in Nigeria’s local bond market are tilting towards the short to mid-end of the curve, particularly, the 2026 and 2034 papers. Traders at UBA expect this week to end in similar sentiment as investors take position for the 450-billion-naira bond auction scheduled for April 15th. Kenneth Onuoha, Team Member, Assets and Liabilities at UBA joins CNBC Africa for more market updates.</p>


Investors tilt to short- mid-end of bond curve

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<p>The Inner-City Regeneration Business Investment Webinar, hosted by the city of eThekwini alongside political leadership from the City of New York, showcases key discussions between the two regions about unlocking the door for Inner City Investment in Durban. CNBC Africa speaks to a panel of experts from property development, oceans economy, agriculture and tourism sectors, on the diverse investment opportunities the city of Durban has to offer and other programmes centred around the city’s growth and development.</p>


Inner-City Regeneration Business Investment Webinar

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<p>Navigating challenges and opportunities in Africa&#8217;s evolving digital landscape. This episode of Doing Business in Rwanda delves into leveraging digital technologies for sustainable development and social inclusion.</p>


Exploring Rwanda’s Digital Transformation


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="452" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/JSE-Foreign-Transcribe-Image-820x452.png" alt="" class="wp-image-473359" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/JSE-Foreign-Transcribe-Image-820x452.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/JSE-Foreign-Transcribe-Image-300x165.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/JSE-Foreign-Transcribe-Image-160x88.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/JSE-Foreign-Transcribe-Image-768x423.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/JSE-Foreign-Transcribe-Image.png 993w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



<p>The Johannesburg Stock Exchange has seen a decline in foreign participation over the past five years as economic growth slowed and South Africa’s relations with western countries soured over perceived support for Russia and China.</p>



<p>The exchange’s Capital Markets Director Valdene Reddy told CNBC Africa in an interview that there is anecdotal evidence that foreign holdings of individual companies and the market in general has dropped in the past few years.</p>



<p>&#8220;We&#8217;ve seen it come down where you talk to the local companies, and they say their shareholder register of foreign ownership has decreased,&#8221; Reddy said. &#8220;It is different in terms of different names and counters, but it has, in general, decreased across the board.&#8221;</p>



<p>The JSE, Africa’s largest stock market, has seen its weighting dropping around 3 percent in emerging market indices as South Africa almost tipped into a recession in 2023 amid power shortages and a logistics crisis that curtailed export growth. So far this year, foreign investors have sold a net R36 billion of South African equities, 25 percent up compared with a year ago.</p>



<p>Growth is forecast to almost double to more than one percent this year as power supply improves and after the country’s general elections next month. Reddy said that should attract more investment in a market she says is undervalued. &#8220;In general, South Africa trades between a 20 to even 40 percent discount in intrinsic and your net asset value of the company in some of our mainline counters. So it actually holds quite a lot of value in terms of the discount not only to emerging market peers, but also to developed world majors,&#8221; she said.</p>



<p>She noted that foreign investor activity in the JSE has been concentrated in the top 40 to top 60 counters, rather than specific sectors with interest in exporters and dual-listed defensive stocks.</p>



<p>South African bonds have also attracted interest from global investors from a yield perspective, she said. JSE data shows foreign investors have bought a R29 billion rand of South African bonds so far this year versus net sales of R17 billion at the same time a year ago.</p>


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Foreigners Sell South African equities amid a political fallout, lower growth

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<p>Explore South Sudan&#8217;s rich oil resources as it aims to become Africa&#8217;s leading oil export hub. Witness the unveiling of Nile Petroleum Corporation&#8217;s latest building, marking a significant milestone in the nation&#8217;s development.</p>


South Sudan Rising to Be Africa’s Petroleum Hub

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<p>The Nigerian bond market witnessed a shift in sentiments following the release of the second quarter bond calendar as investors queried initial interest in the 2027, 2034, and 2053 bonds. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa to gauge what investors have their eyes on.</p>


CNBC Africa

East Africa Highlights at WomenLift Health Conference 2024

Sahara Group looks to wind turbines to reduce carbon emissions

EdTech Monday: Artificial Intelligence in Education

Rwanda-Zimbabwe Business Forum: Enhancing business linkages between Rwanda & Zimbabwe

UK Funds Africa’s largest battery storage system in South Africa

Highlights Special of the 9th FORBES WOMAN AFRICA Leading Women Summit

A Discussion with Landmark Group CEO

Inauguration Day in Senegal

Nigeria’s Banking Industry Faces Recapitalization Deadline: The Countdown to April

Emerald Group buys 40% stake in Forbes Africa publisher ABN Publishing

Zimbabwe relaunches currency in latest inflation fight

Investors tilt to short- mid-end of bond curve

Inner-City Regeneration Business Investment Webinar

Exploring Rwanda’s Digital Transformation

Foreigners Sell South African equities amid a political fallout, lower growth

South Sudan Rising to Be Africa’s Petroleum Hub

Investors take position on Q2’24 bond calendar

News Tips

Advertise With Us

CNBC Africa

East Africa Highlights at WomenLift Health Conference 2024

Sahara Group looks to wind turbines to reduce carbon emissions

EdTech Monday: Artificial Intelligence in Education

Rwanda-Zimbabwe Business Forum: Enhancing business linkages between Rwanda & Zimbabwe

UK Funds Africa’s largest battery storage system in South Africa

Highlights Special of the 9th FORBES WOMAN AFRICA Leading Women Summit

A Discussion with Landmark Group CEO

Inauguration Day in Senegal

Nigeria’s Banking Industry Faces Recapitalization Deadline: The Countdown to April

Emerald Group buys 40% stake in Forbes Africa publisher ABN Publishing

Zimbabwe relaunches currency in latest inflation fight

Investors tilt to short- mid-end of bond curve

Inner-City Regeneration Business Investment Webinar

Exploring Rwanda’s Digital Transformation

Foreigners Sell South African equities amid a political fallout, lower growth

South Sudan Rising to Be Africa’s Petroleum Hub

Investors take position on Q2’24 bond calendar

News Tips

Advertise With Us

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