News - CNBC Africa

Southern Africa

S.Africa president Zuma cancels Indonesian trip to deal with xenophobia

18/04/2015 17:51:24

Zimbabwean President Robert Mugabe expresses shock and disgust at the attacks on immigrants.

Brian Molefe appointed as Eskom’s acting CEO

17/04/2015 13:03:05

Brian Molefe has been appointed as acting CEO of Eskom, Public Enterprises Minister Lynne Brown said on Friday.

S.Africa’s public-sector wage demands would cost $1.7 bln - finmin

17/04/2015 12:46:20

Wage demands by South African public-sector unions would cost the government an extra 20 billion rand over the next financial year.

Sasol repatriates S.African workers in Mozambique over anti-immigrant fears

17/04/2015 12:26:13

Sasol is repatriating 340 South Africans working at its projects in Mozambique over fears for their safety.

Western Africa

Guinea finds nine new Ebola cases near border with Sierra Leone

17/04/2015 09:03:42

Nine new cases of Ebola have confirmed by Guinean authorities near the border with Sierra Leone.

Nigeria’s transition smooth but creates policy uncertainty: Fitch

16/04/2015 17:38:41

The prospect of a smooth transfer of power in Nigeria alters but does not remove risks to the country's sovereign credit profile.

Buhari's Nigeria oil policy to focus on reform first, taxes last

16/04/2015 06:22:51

Nigeria's president elect Muhammadu Buhari plans ending corruption his key deliverable

Is Boko Haram Africa’s worst story of last decade?

15/04/2015 13:57:31

Amnesty International attacks Nigerian government for lax approach on dealing with terrorism.

East Africa

Safaricom brings M-Pesa home

17/04/2015 10:48:42

Safaricom is on course to install its M-Pesa services locally.

Kenya’s energy regulator reduces petrol price

15/04/2015 10:41:18

The Energy Regulatory Commision (ERC) of Kenya has marginally decreased its pump prices.

Al-Shabaab militants attack Somali government building, at least 5 dead

14/04/2015 12:37:24

Al Shabaab Islamist militants attacked a government building housing two ministries in the Somali capital on Tuesday.

Kenya tells UNHCR to move refugee camp from the country

13/04/2015 10:23:16

Kenya wants its largest refugee camp, Dadaab, to be relocated to Somalia in the next three months.

Financial

Update on ABIL's curatorship & restructuring

16/04/2015 09:08:25

ABIL curatorship and restructuring initiatives set to remain.

S.Africa's rand falls on weak China trade data

13/04/2015 08:07:24

S.Africa's rand gave up its gains against the dollar tracking other commodity currencies which fell after China released weak trade data.

Rwanda’s inflation rises to 0.8% in March year-on-year

10/04/2015 10:42:55

Rwanda’s urban inflation rose to 0.8 per cent in March year-on-year from 0.7 per cent a month earlier, the statistics office said on Friday.

Angola's central bank raises key interest rate to 9.25 pct

31/03/2015 08:18:03

Angola's central bank raised its benchmark lending rate on Monday by 25 basis points to 9.25 per cent.

Industrials

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.

Mining

AngloGold in talks to sell part, all of U.S. mine

13/04/2015 07:54:34

AngloGold is talk with potential partners or buyers for its Cripple Creek & Victor (CC&V) mine in the United States.

Botswana-De Beers diamond firm to cap output due to slow demand

09/04/2015 17:02:07

Debswana will trim output as it waits for demand for the precious stone to recover.

Zambia cabinet to present changes to mining royalties on Monday

09/04/2015 11:51:43

Zambia’s cabinet will table changes to mining royalties on Monday after the finance and mines ministers proposed the amendments.

Anglo American coal mine in S.Africa hit by wildcat strike

08/04/2015 17:47:15

Workers have downed tools at a mine operated by Anglo American’s South African coal unit.

Resources

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.

Technology

MTN joins price hike movement

15/04/2015 16:05:39

MTN decides to join Vodacom and Cell C in price increases.

Nokia to buy Alcatel to grow in telecom equipment

15/04/2015 12:09:06

Nokia is to buy Alcatel-Lucent in an all-share deal that values its smaller French rival at 15.6 billion euros.

Blackberry still regarded a status symbol in Africa

08/04/2015 12:43:09

The use of BlackBerry phones in Africa is expected to rise to 16 per cent from 6 per cent penetration for current and previous users.

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.

IPO

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.

Currencies

S.Africa signs $4.8 bln currency swap with China

10/04/2015 10:45:51

South African Reserve Bank said on Friday it has signed a three-year bilateral swap agreement with the People’s Bank of China.

S.Africa’s rand retreats, trend points to upside

09/04/2015 11:03:21

South Africa’s rand gave away some of its recent gains on Thursday as the US dollar strengthened on interest rate hike expectations.

S.Africa's rand climbs as weak US data weighs on dollar

01/04/2015 17:40:31

The rand gained as much as 1.4 per cent against the dollar on Wednesday.

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.

Commodities

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.

Stocks

JSE’s top performing stocks in March 2015

02/04/2015 15:54:38

March was a volatile month on global markets with stocks surging after the US Federal Reserve’s latest, more dovish, statement in mid-March.

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.

Video

News

    Sasol repatriate S.African workers from Mozambique over safety fears

    Fri, 17 Apr 2015 14:54:48 GMT

    Among the sporadic and rising xenophobic attacks on foreign nationals, South African companies with operations in other parts of Africa are evacuating employees because of hostility towards them.

    Update on xenophobic violence in S.Africa

    Fri, 17 Apr 2015 14:39:46 GMT

    The wave of xenophobic violence continues in South Africa.

    Zimbabwe celebrate independence amid economic downturn

    Fri, 17 Apr 2015 14:38:03 GMT

    Zimbabwe is still reeling from political and economic challenges of over a decade. The ruling party Zanu PF is under pressure to attract foreign investment which saw President Robert Mugabe visiting South Africa last week.

    Brian Molefe appointed acting CEO of Eskom

    Fri, 17 Apr 2015 14:36:13 GMT

    Transnet CEO Brian Molefe is as of today, the new acting CEO of beleaguered power utility Eskom. He has been seconded to the post after Tshediso Matona was suspended in March.

    Causes of Afro-phobia in S.Africa

    Fri, 17 Apr 2015 14:22:15 GMT

    CNBC Africa is joined by Loren Landau from the African Centre for Migration & Society - who has done extensive research on the root causes of Afro-phobia in South Africa.

    Gauteng will not tolerate Afro-phobia

    Fri, 17 Apr 2015 14:01:55 GMT

    On the back of the decision by Zulu King Goodwill Zwelithini to hold a meeting with traditional leaders to stop xenophobic attacks.

    Safaricom to migrate Mpesa servers from Germany to Kenya

    Fri, 17 Apr 2015 13:50:44 GMT

    Kenya's largest telecommunications provide Safaricom is on course to migrate the entire infrastructure of its mobile money transfer services Mpesa from Germany to Kenya.

    Kenya's real estate sector remains lucrative

    Fri, 17 Apr 2015 13:50:42 GMT

    Kenya's real estate sector remains quite lucrative due to high returns on investment and the annual Homes Expo has become a key event that has attracted local and foreign investors over the years.

    PR professionals to further acquire training in Kenya

    Fri, 17 Apr 2015 13:50:40 GMT

    They manage our brands, but has anyone ever thought that PR practitioners need training.

    Kenya shilling seen weaker on dollar demand by energy sector

    Fri, 17 Apr 2015 13:23:58 GMT

    The Kenya shilling has weakened further due to demand for the dollar by the energy sector. Also, Kenya Power stock has topped other energy stocks due to demand by foreign investors.

    Nigeria Q1 earnings fail to excite investors

    Fri, 17 Apr 2015 13:23:53 GMT

    Access Bank is the latest lender to report Q1 earnings in a season that has failed to excite investors.

    S&P March Nigeria broad market index gain

    Fri, 17 Apr 2015 13:07:41 GMT

    Standard and Poor's Nigeria broad market index gained 10.6 per cent in the month of March, following the successful conclusion of the election season.

    Nigeria reacts to xenophobic attacks

    Fri, 17 Apr 2015 10:34:25 GMT

    In South Africa police say about 200 foreign nationals took refuge at a police station in Jeppestown, and 12 people were arrested as xenophobic attacks continue. At least five people have died in anti-foreigner attacks in recent weeks.

    Hot Nigerian stocks of the week

    Fri, 17 Apr 2015 10:34:23 GMT

    Earnings season in Nigeria is still underway as Forte Oil is the latest to announce its earnings. Seun Adesoye, managing director at Associated Asset Managers joins CNBC Africa to discuss her hot Nigerian stocks.

    Infrastructure development vital factor for economic growth

    Fri, 17 Apr 2015 09:57:30 GMT

    Infrastructure development is a vital factor for economic and social progress, with far-reaching effects on the growth potential of the global economy.

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Markets

  • All Share53,734.00
     
    -0.97%
    Financial 1517,715.00
     
    -0.54%
    Industrial 2568,255.00
     
    -1.19%
  • ZAR/EUR13.00
     
    0.91%
    ZAR/GBP18.02
     
    0.87%
    ZAR/USD12.09
     
    0.34%
  • Brent Crude Oil64.4
     
    6.34%
    GOLD USD/oz1,205.2
     
    0.07%
    Platinum USD/oz1,167.1
     
    0.01%
Price%Change
JSE All Share Index53,734.00Down-0.97%
JSE Financial 1517,715.00Down-0.54%
JSE Industrial 2568,255.00Down-1.19%
JSE Resources 1040,964.00Down-1.1%
JSE Top 4047,492.00Down-1.06%
Price%Change
ZAR/EUR13.00Up0.91%
ZAR/GBP18.02Up0.87%
ZAR/USD12.09Up0.34%
Price%Change
Brent Crude Oil64.4Up6.34%
GOLD USD/oz1,205.2Up0.07%
Platinum USD/oz1,167.1Up0.01%

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