News - CNBC Africa

Southern Africa

China: Africa’s friend or foe?

28/05/2015 11:22:24

China’s economic slowdown has affected its ability to finance loans to African countries.

South Africa says bribe allegations `baseless and untested'

28/05/2015 11:00:36

SAFA has made a spirited defense over FIFA allegations saying S.Africa's bid was run, by among others, late president Nelson Mandela.

Malawi to spend $47 mln for maize: finance minister

28/05/2015 07:50:42

Malawi plans to spend US$47 mln on maize purchases locally and abroad to address food shortages.

Mining & finance lift S.Africa’s GDP by 1.3% q/q

26/05/2015 11:01:24

Real gross domestic product (GDP) at market prices increased by 1.3 per cent during the first quarter of 2015.

Western Africa

Nigeria’s internet expansion is a feasible possibility

26/05/2015 13:24:58

Nigeria targets 30 per cent broadband penetration by 2015, as the ICT industry has been described as “viable”.

IFC, Ecobank inject US$110 mln in fragile states

26/05/2015 10:18:32

IFC and Ecobank have partnered on a US$110 mln risk-sharing facility meant to increase access to finance for SMEs in conflict regions.

Nigerian oil producers end strike after fuel shortage affects big business

25/05/2015 13:50:32

Severe fuel shortages in Nigeria hit the services of Africa's largest mobile telecoms operator, MTN, on Monday.

Nigerian military says killed scores of Boko Haram militants, rescued 20 women and children

25/05/2015 09:25:27

Nigeria's military killed scores of Boko Haram militants and rescued 20 women and children as part of an operation in the Sambisa forest.

East Africa

Tanzania to spend $2 bln to unclog its commercial capital

28/05/2015 11:16:05

Tanzania is set to build new roads and a bus rapid transit system in its commercial capital, Dar es Salaam.

Kenya gives Kenya Airways loan as Ebola, tourism slump hit revenue

28/05/2015 08:12:31

Kenyan Airways has received a 4.2 billion shillings loan from the state.

US hails Ethiopian elections, warns of restrictions on media

28/05/2015 07:22:13

US blasts Ethiopia for failing to allow more space for civics and media.

Tanzania agrees to buy back Bharti Airtel's stake in state telecom

27/05/2015 11:20:36

Tanzania's government has agreed a deal to buy back a 35 per cent stake from Bharti Airtel.

Financial

S.Africa rates may have to rise to curb inflation: Groepe

27/05/2015 11:03:35

South Africa's central bank may have to raise interest rates to deal with a deteriorating inflation outlook.

Joburg residents to pay more

26/05/2015 12:36:29

The cost of living in the country's economic hub will rise substantially as of July 1.

S.Africa's rand weakens ahead of GDP, unemployment data

26/05/2015 08:25:33

S.Africa's rand weakened to a two-week low against dollar early on Tuesday, with traders cautious ahead of local growth data.

S.African MPC holds repo rate

21/05/2015 15:12:33

The South African Reserve Bank’s monetary policy committee (MPC) has left the interest rate unchanged.

Industrials

Africa to launch 26-nation trade block in June - official

21/05/2015 17:21:12

African countries will launch a framework next month to create a 26-nation free trade area to boost regional trade and investment.

PPC says H1 profit dips

19/05/2015 10:45:14

South Africa's biggest cement maker PPC Ltd reported a 38 per cent decline in half-year profit on Tuesday.

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.

Mining

S.Africa's NUM union wants 84 pct pay increase for gold workers

22/05/2015 08:29:27

S.Africa's National Union of Mineworkers will push for an 84 per cent rise in basic pay for entry-level gold mining workers.

CoAL granted mining rights for Makhado

18/05/2015 11:48:44

South Africa’s ailing power utility, Eskom could have a potentially new coal supplier in Coal of Africa Limited.

BHP spin-off South32 debuts at lower end of expectations

18/05/2015 07:47:41

BHP Billiton's spin-off South32 debuted near the bottom of expectations on Monday as investors awarded only a small premium.

Anti-dumping duties slammed on Pakistani cement imports

15/05/2015 14:06:16

Cement producers in Southern Africa relieved after SACU imposes anti-dumping of Portland cement from Pakistan.

Resources

South Africa’s taps are fast running dry

07/05/2015 10:24:23

As if the power crisis was not enough, South Africa has tumbled into another one where citizens could find themselves without water.

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.

Technology

MTN workers strike for a 10% raise

20/05/2015 06:57:37

MTN workers are on strike today demanding a 10 per cent increase.

Telkom customers stressed as data centre experiences switch failure

18/05/2015 13:51:35

Telkom customers are stressed after its Centurion data centre experienced a network switch failure early this morning.

FNB thrives in S.Africa’s online banking scene

08/05/2015 17:06:27

FNB emerges as the top internet banking service provider according to an industry exclusive survey.

S.Africa braces itself for a new player in the telecoms market

29/04/2015 10:41:28

South Africa sees a new entrant in the mobile telecommucations space.

IPO

Choppies lists on the JSE

27/05/2015 17:47:09

Choppies listed on the JSE and it is aiming to open 200 stores in Africa by the end of next year.

Greenstone IPO at $783 mln set to Australia's biggest for year so far

25/05/2015 09:40:00

S.Africa owned insurer Hollard Group plans to raise nearly A$1 billion ($783 million) by listing its Australian unit Greenstone Pty Ltd.

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.

Currencies

Kenya's shilling hits 3-year low, shares rise

05/05/2015 17:27:37

Kenya's shilling weakened against the dollar on Tuesday.

S.Africa's rand gains, eyes on Greece, power cuts

20/04/2015 10:53:31

South Africa's rand was a tad stronger against the dollar early on Monday as China's move to cut reserve requirements lifted sentiment.

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.

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

S.African stocks fall for 2nd day ahead of Fed decision

29/04/2015 17:58:22

South African stocks slipped again on Wednesday.

Tencent takes on Alibaba, Xiaomi with open smart hardware operating system

28/04/2015 10:43:28

Tencent launched an operating system for internet-connected devices such as TVs and watches that is open to all developers, taking on rivals

Anglo says IPO most likely route for some South Africa platinum mines

23/04/2015 16:34:10

Anglo American is looking to divest some of its highest-cost platinum mines in South Africa.

S.Africa's Steinhoff offers $99 mln for rest of JD Group

21/04/2015 13:50:35

Steinhoff has offered 1.2 billion rand for shares it does not already own in JD Group.

Video

News

    Three left in the race for the AFDB top spot

    Thu, 28 May 2015 14:48:34 GMT

    The race for the top seat at the African Development Bank is nearing its end and it has come down to three candidates from Chad, Nigeria and Cape Verde.

    What the Joburg 2015/16 budget means for community development

    Thu, 28 May 2015 14:16:20 GMT

    Johannesburg's Community Development Department is responsible for nearly 600 social amenities around the city. CNBC Africa find out from Chris Vondo, Joburg's MMC for community development, what the 2015/16 budget means for his department.

    Father of Elon & Kimbal Musk reveals what's next for his billionaire sons

    Thu, 28 May 2015 14:16:11 GMT

    Errol Musk, the father of billionaire entrepreneur Elon Musk, tells Lindsay Williams what he believes is next for Elon.

    Finding solutions for Kenya's traffic jam

    Thu, 28 May 2015 13:54:33 GMT

    Traffic jams in Nairobi have been blamed for the loss of more than 30 hours a week, recent attempts by the county's government haven't seemed to bear much fruit, could there be a role the international community could play to solve this?

    Kenya Airways to receive financial bail-out

    Thu, 28 May 2015 13:51:19 GMT

    Kenya Airways is set to receive a 4.2 billion Kenyan shillings bail out from the government to lessen its financial troubles while KCB group is investing 28 billion Kenyan shillings in property development.

    Rwandair gets IATA certification

    Thu, 28 May 2015 13:40:35 GMT

    Rwanda's national carrier, Rwandair has received the IATA certification of membership, and the IATA Operational Safety Audit (IOSA) certification, an evaluation system designed to assess the operational management and control systems of an airline.

    Premier Bank sets up shop in Mogadishu

    Thu, 28 May 2015 13:40:34 GMT

    Premier Bank has set up shop in Mogadishu, Somalia boosting recovery efforts at the horn of Africa after a prolonged period of strife.

    Nigeria Interbank placement rates drop

    Thu, 28 May 2015 13:06:31 GMT

    Interbank placement rates dropped following an increase in system liquidity. The T-bills market turned bullish however bonds remained bearish.

    What change of government means for Nigerian stocks

    Thu, 28 May 2015 13:04:48 GMT

    The NSE All Share index closed lower the day before Nigeria's President elect is sworn in.

    Central Securities Clearing System's role in the integration of bourses in W.Africa

    Thu, 28 May 2015 13:01:26 GMT

    Over 26 billion shares were traded on the NSE in the first quarter of 2015.

    Buhari to tackle Islamist insurgency

    Thu, 28 May 2015 10:18:15 GMT

    In the last six years, Nigeria has battled an Islamist insurgency that has led to the death of thousands of Nigerians, with many victims being displaced and living in fear in the North-Eastern part of the country.

    Joel Kibazo speaks on AfDB presidency

    Thu, 28 May 2015 10:11:53 GMT

    The African Development Bank Annual Meetings are currently underway in Abidjan, Ivory Coast.

    Esor results with CEO Wessel van Zyl

    Thu, 28 May 2015 09:50:48 GMT

    Civil engineering and construction group, Esor announced its company results this morning.

    Making learning fun

    Thu, 28 May 2015 09:48:05 GMT

    Nigeria's education sector faces a numbers of challenges, from staff shortages to insufficient investments to keep pace with the country's growing school-age population. Yomi Adedeji, managing partner, Softcom developed a mobile application providing

    Who will win the AfDB race?

    Thu, 28 May 2015 08:31:35 GMT

    The African Development Bank's presidential election holds today. Eight candidates are in the running to take over from Donald Kaberuka.

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Price%Change
JSE All Share Index52,810.00Down-0.28%
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Price%Change
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