News - CNBC Africa

Southern Africa

Eskom chairman steps down

31/03/2015 05:42:33

The board said that with his departure it could focus on restoring confidence in the power utility.

Bonatla CEO fined half a million rand by JSE

30/03/2015 17:41:13

The JSE has imposed a fine of 500,000 rand on Bonatla Property CEO, Niki Vontas in relation to several breaches of its listing requirements.

S.Africa's Trevor Noah to succeed Jon Stewart on "The Daily Show"

30/03/2015 13:55:16

Noah made his debut on “The Daily Show With Jon Stewart,” in December.

Afrox appoints AECI executive member as MD

30/03/2015 12:23:13

JSE-listed African Oxygen (Afrox) has announced the appointment of Schalk Venter new managing director (MD).

Western Africa

US, Britain express concern over counting of Nigeria's votes

30/03/2015 22:12:48

The two countries say there are disturbing indications that the collation process may be subject to "deliberate political interference".

Nigeria's opposition leader wins two key states in the North

30/03/2015 21:46:27

Buhari wins key northern swing state of Kaduna and biggest northern battleground state of Kano.

Nigeria election results due to start trickling in

30/03/2015 14:03:08

Results from Nigeria's elections, potentially the closest contest since the end of military rule in 1999.

Nigerian polls outcome unlikely to affect markets

30/03/2015 14:00:23

Will the Nigeria polls affect the market and investor sentiments ?

East Africa

Obama to visit Kenya in July for entrepreneurship summit -White House

31/03/2015 06:45:10

U.S President Barack Obama is set to visit the birthplace of his father this July for a Global Entrepreneurship Summit.

US condemns attack on Somali hotel

30/03/2015 16:22:04

The United States (US) has said that it strongly condemns al-Shabaab’s terrorist attack on the Maka al-Mukarama Hotel in Mogadishu.

Kenya announces plans to reopen Nairobi mall after attack

30/03/2015 15:58:36

Kenya's Westgate mall will reopen to the public in July for the first time since the attack.

Australia warns of imminent attacks in Kenya

27/03/2015 13:59:37

Australia has warned Kenya of extremists may be planning attacks in crowded places in Nairobi.


S.Africa's rand extends losses against dollar, bonds weaker

30/03/2015 08:31:19

S.Africa's rand extends losses against the dollar after U.S. Federal Reserve Chair said the bank was on course to raise interests.

Fed's Yellen sees gradual rate hikes starting this year

28/03/2015 08:39:00

Janet Yellen signalled that the US central bank will likely start raising borrowing costs later this year.

FSB responds to Belvedere scandal, Kellerman risks losing licence

27/03/2015 07:28:58

Financial Services Board (FSB) is battling to distance itself from having been lax in handling Jacobus Kellermann’s alleged Ponzi scheme.

S.Africa’s repo rate remains unchanged

26/03/2015 13:52:05

South African Reserve Bank (SARB) governor, Lesetja Kganyago has kept the country’s repurchase (repo) rate unchanged.


Group Five under collusion spotlight once again

17/03/2015 14:19:47

Group Five is in the hot seat again after being accused of collusive tendering.

Transnet says to roll out new locomotives in July

02/03/2015 12:34:22

Transnet plans to expand the railways, ports and pipelines that move commodities for export from Africa's most advanced economy.

Libya's biggest steel firm to halt output for 2 weeks due to power shortages

15/02/2015 06:03:51

Libya's biggest steel firm Lisco, which has been hit by the turmoil in the country, will halt production for two weeks.

S.Africa's December manufacturing output up 1.1% y/y

10/02/2015 14:54:56

South Africa's manufacturing production was up 1.1 per cent year-on-year in December 2014.


S.Africa to disclose results of mining charter review on Tuesday

30/03/2015 12:19:04

Failure to comply with the mining charter could result in permits or mining rights being revoked.

Battered Africa gold valuations to spur mines sales

19/03/2015 15:08:38

The rising pressure on Africa's gold producers to restructure or perish are likely to spur a wave of acquisitions.

S.Africa's AMCU to discuss asset sale with Amplats CEO

19/03/2015 14:45:03

AMCU's Joseph Mathunjwa, said he would meet Anglo American Platinum's CEO on Thursday to discuss the sale of the firm's Rustenburg assets.

South Africa expects to start granting shale licences later this year

17/03/2015 07:08:22

S.Africa's Mining minister said he will to start issuing shale exploration licences later this year.


Exxaro CEO Sipho Nkosi to retire, appoints CEO-designate

30/03/2015 14:43:52

Exxaro has appointed a CEO-designate following the announcement that its current CEO, Sipho Nkosi is set to retire.

BP and partners to invest $12 bln in Egypt gas deal

06/03/2015 14:37:18

The investment project by BP and its partners is expected to help Egypt as it tackles its worst energy crisis in decades.

Raising funds for Benin’s cotton season

20/02/2015 11:13:08

West African Development Bank (BOAD) is raising funds to aid the cotton season in Benin.

Rwanda gets a solar power boost

19/02/2015 11:59:03

Gigawatt Global, a renewable energy company, has launched an 8.5 MW solar-power utility in Rwanda.


Italian online fashion retailer and Richemont's Net-a-Porter to combine forces

30/03/2015 17:23:31

Richemont says talks underway with Italian online fashion retailer Yoox for Net-a-Porter.

Econet, Zimbabwe government clash over mobile phone infrastructure

30/03/2015 12:28:12

Econet said Zimbabwe's requirement to have mobile phone operators share telecommunications infrastructure was a disguise to seize the assets

Vodacom price hike shock

27/03/2015 06:25:42

Will Vodacom lose customers after its price hike?

Are Facebook, Google tricking Africans with "free" services

25/03/2015 09:29:16

Where will the African Mark Zuckerberg come from when the continent has no chance to compete?


Virgin Active warms up to Johannesburg IPO: Sky News

06/02/2015 10:47:02

Virgin Active has hired Standard Bank Group to list the British health and fitness chain on the Johannesburg Stock Exchange.

African IPOs set to rise by a quarter in 2015: law firm

23/01/2015 12:02:50

The number of African companies listing shares could rise by a quarter this year if the firms that have said they plan an IPO move ahead.

Cartrack raises R510 million through share placement

12/12/2014 11:05:06

Cartrack has successfully raised an aggregate amount of 510 million rand through the placement of 60 million ordinary shares.

Acsion to offer investors exposure to 100% of development company

09/12/2014 11:48:58

Specialist property developer, Acsion has said that it offers investors exposure to 100 per cent of its development company.


S.Africa's rand seen weakening in risk-off trade

26/03/2015 06:58:45

South Africa's rand was a shade softer against the dollar early on Thursday.

S.Africa's rand at three-week high against dollar on EM rally

24/03/2015 16:32:20

South Africa's rand rode the wave of an emerging market rally on Tuesday.

S.Africa's rand steadies, Eskom casts shadow

20/03/2015 07:46:30

The rand steadied on Friday but remained vulnerable after falling sharply the day before after S&P downgraded Eskom to junk.

S.Africa's rand surrenders post-Fed gains

19/03/2015 16:18:21

The rand fell sharply when the US Federal Reserve dampened expectations of an imminent interest rate increase.


Brent falls towards $54, heads for third weekly loss

20/03/2015 07:38:11

Brent crude fell towards $54 a barrel on Friday and was on track for its third weekly loss.

US crude prices to drop to $40 a barrel as inventories rise -Goldman

09/03/2015 14:21:48

Oil prices will reverse their recent gains as global crude inventories begin to increase again.

Low oil price may affect African projects

17/02/2015 11:17:16

Oil and gas explorers may need to rethink their capital expenditure on activities conducted in Africa as the oil price continues to weaken.

Oil prices fall after last week's surge, strike action

02/02/2015 06:13:47

Crude oil prices fell on Monday after US unions called a refinery strike and traders cashed in on strong price gains last week.


S.Africa stocks gain, Standard Bank jumps on dividend

05/03/2015 16:21:59

South African stocks ended higher on Thursday.

JSE to list Euronext’s Milling Wheat contract

16/02/2015 11:21:48

Euronext has signed a licence agreement to list its flagship Milling Wheat contract on the Johannesburg Stock Exchange (JSE).

Old Mutual will consider raising India joint venture stake: CEO

09/01/2015 08:33:17

South African financial services firm Old Mutual will discuss with partner Kotak Mahindra upping its stake in their Indian joint venture.

Global equities continue to offer investors value

17/06/2014 16:56:03

Global equities are getting more expensive and definitely not the same value experienced in 2008 and 2009.



    Buhari leads Nigerian elections

    Tue, 31 Mar 2015 05:25:43 GMT

    CNBC Africa's Godfrey Mutizwa gives an update on the closely contested Nigerian election result which is expected later today. In the early race, opposition leader Muhammadu Buhari is in the lead.

    Will the Greek economy exit the Euro?

    Tue, 31 Mar 2015 05:12:39 GMT

    CNBC Africa's Lindsay Williams speaks to David Zahn from Franklin Templeton on the impact that that European quantitative easing will have on bond markets and the likelihood of a Greek exit from the Euro.

    Unpacking S.Africa's telecoms sector

    Tue, 31 Mar 2015 05:11:56 GMT

    Co-operation, collaboration and sharing have been some of the buzzwords used to explain what's happening in South Africa's telecoms sector.

    Exxaro's Sipho Nkosi to retire March

    Tue, 31 Mar 2015 05:11:55 GMT

    Exxaro's chief executive Sipho Nkosi will retire at the end of March next year. The current Exxaro executive - responsible for Carbon Operations, Mxolisi Mgojo has been appointed to serve as CEO-designate.

    Master Drilling FY HEPS up

    Tue, 31 Mar 2015 05:11:53 GMT

    Master Drilling reported full-year headline earnings per share of 12 US cents. That's while profit attributable to equity shareholders rose 11.8 per cent to 16.9 million dollars.

    Nigerian election update

    Tue, 31 Mar 2015 05:11:51 GMT

    Results from Nigeria's elections, potentially the closest contest since the end of military rule in 1999 have begun trickling in - Wole Famurewa CNBC Africa joins from Nigeria for an update.

    Steinhoff - Hot or Not

    Tue, 31 Mar 2015 04:11:20 GMT

    Steinhoff is an integrated retailer that manufactures sources and retails furniture and household goods in Europe, Africa and Australasia. It is acquiring Pepkor, and is about to list in Frankfurt. It has a market cap of R231 billion.

    Nu-World - Hot or Not

    Tue, 31 Mar 2015 04:11:19 GMT

    Nu-World was established in 1946 by the late Harry Goldberg, and listed on the JSE in 1987. It is a importer and distributor of electrical appliances. It has a market cap of R 588 million, a PE ratio of 7.4and a dividend yield of 4.51 per cent.

    Lewis - Hot or Not

    Tue, 31 Mar 2015 04:11:19 GMT

    Lewis mainly sells goods on credit to the rapidly expanding middle income market through the Lewis, Best Electric and My Home brands. It has a market cap of R7, 6 billion, a PE ratio of 8.9 and a dividend yield of 6.65 per cent.

    JD Group - Hot or Not

    Tue, 31 Mar 2015 04:11:17 GMT

    JD Group is controlled by Steinhoff, with just over 85% of the shares in issue. The company's operational brands include Bradlows, Joshua Doore, Morkels, Russells, High-Fi Corp and Incredible Connection. It has a market cap of R6, 9 billion.

    Nigerians say corruption affects country's political parties

    Mon, 30 Mar 2015 15:27:26 GMT

    Transparency International's global corruption barometer shows that at least 94 per cent of people in Nigeria think that the country's political parties are affected by corruption.

    Digging deeper into issues affecting Nigeria's polls

    Mon, 30 Mar 2015 15:27:25 GMT

    Issues arising from Nigeria's polls have moved from fear of voters' conduct to judicial issues that may arise post elections as vote counting continues.

    China becomes Kenya's largest bilateral lender

    Mon, 30 Mar 2015 14:41:47 GMT

    China has toppled Japan from being Kenya's largest bilateral lender, further entangling the country's economy with the Asian dragon, National Treasury debt data for up to December 31 show.

    Delta International Property lists on the Mauritius bourse

    Mon, 30 Mar 2015 14:29:39 GMT

    CNBC Africa is joined by Louis Schnetler, CEO of Delta International Property on the company's listing on the Stock Exchange of Mauritius.

    How competitive is S.Africa's wine overseas?

    Mon, 30 Mar 2015 14:04:08 GMT

    It has been argued that South Africa's wine has failed to gain traction overseas because it is not easily recognisable.

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