News - CNBC Africa

Southern Africa

S.Africa's Nene open to UIF contribution reduction

05/03/2015 06:28:43

The reduction in UIF contributions could bring the much needed relief to consumers and help stimulate the economy.

Lesotho opposition says forms coalition after tight election

05/03/2015 06:09:21

Lesotho is set for yet another coalition government as the country battles to end the seemingly endless political crisis.

S.Africa's rand falls to three-week low on economy woes

04/03/2015 16:07:04

South Africa's rand hit a three-week low on Wednesday against the US dollar.

JSE's top performing stocks

04/03/2015 14:31:05

Northam, Adcock & Telkom boast as the top three best performing stocks on the JSE in February.

Western Africa

Chad president tells Boko Haram leader to surrender or face death

05/03/2015 07:38:17

President of Chad claims that he knows where the Boko Haram leader is hiding and has threatened to kill him if he does not surrender.

Nigerian naira flat vs dollar in thin trade

04/03/2015 16:31:25

Nigeria's naira currency closed flat against the dollar on the interbank market on Wednesday.

Things are good in Nigeria: Ecobank chief tells investors

04/03/2015 12:28:10

Ecobank's chief executive says his group is staying afloat as other companies sink due to the drop in crude oil prices in Nigeria.

Nigeria likely to lower estimate for 2015 GDP after naira drops

04/03/2015 08:11:16

The endless falling oil price in Nigeria is set to further slice the country's projected GDP forecast.

East Africa

Pan-Africa project to focus on potential of fish trade

04/03/2015 11:32:19

Africa expects to salvage its depleting trade volumes through fishing industry.

Kenya's top media houses back on-air

04/03/2015 09:52:19

The woes in Kenya's digital migration have finally come to and end after a three week blackout.

Uganda's debt levels on the rise due to capital flight

04/03/2015 07:56:02

Uganda’s decline in donor support is likely to hamper the country’s economic growth prospects.

Kenya plan needs oil price rebound: Africa Oil

03/03/2015 12:14:03

Tullow Oil & Africa Oil are desperate for a rise in the oil price so they can go ahead with their Kenyan project.

Financial

S.Africa's business confidence takes a positive turn

03/03/2015 12:50:10

South Africa’s BCI edged higher although the outlook for the rest of the year still remains uncertain.

Berkshire’s Warren Buffett has found his successor

28/02/2015 16:56:09

The candidate works within the Berkshire empire.

PwC Tax comments on S.Africa’s Budget 2015

25/02/2015 14:22:27

PricewaterhouseCoopers (PwC) comments on Finance Minister Nhlanhla Nene's 2015 Budget Review.

S.Africa's rand muted, focus on budget speech

25/02/2015 07:37:40

South Africa's rand traded cautiously against the dollar ahead of the budget speech on Wednesday.

Industrials

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.

Ethiopia bets on grand projects in drive for industrial power

09/02/2015 12:16:07

Chinese workers mingle with Ethiopians putting the finishing touches to a metro line that cuts through Addis Ababa.

Mining

Gold Fields could spend up to $500 mln for working mine

03/03/2015 13:37:44

Gold Fields is only interested in buying working mines.

South Africa's Implats says aims for "smaller" Rustenburg operation

26/02/2015 07:16:24

South Africa's Impala Platinum said it aimed to modernise its Rustenburg mines into "smaller, more concentrated mining" operations.

Chamber of Mines encouraged by Nene's plans for the sector

25/02/2015 15:45:40

The Chamber of Mines notes with much encouragement the national budget presented by Minister Nhlanhla Nene this afternoon.

Ramathlodi commends rescue ops at Kusasalethu mine

23/02/2015 17:10:29

South Africa’s minerals minister, Ngoako Ramatlhodi has commended the rescue operation conducted at Harmony Gold’s Kusasalethu mine.

Resources

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.

Stimulating sustainable rice development in Africa

19/02/2015 10:03:00

The Coalition for Africa Rice Development (CARD) aims to aid the performance of Africa’s rice sector.

Hot dry conditions to affect South Africa's maize crop

13/02/2015 05:50:13

A quarter of South Africa's maize crop could be ruined, as extreme heat and dry conditions sweep through its corn-producing regions.

Technology

Ebola in the time of social media

24/02/2015 13:18:50

Social media is one of the tools that have been used to fight Ebola in West African countries such as Nigeria, Sierra Leone and Liberia.

Samsung Smart School opens in Senegal

18/02/2015 10:55:45

Samsung has launched a mobile education solution in Senegal aimed at providing an interactive classroom experience for learners.

EOH purchases Construction Computer Software

17/02/2015 11:37:03

EOH, a technology and knowledge services provider in South Africa, has bought Construction Computer Software (CCS).

Data theft on the rise, are you at risk?

12/02/2015 08:41:41

Attacks by cyber criminals are on the rise with the number of data breaches having increased by 49 per cent in 2014.

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’s rand reverses gains, tracks weaker euro

26/02/2015 16:48:16

South Africa’s rand weakened against the dollar in line with the euro on Thursday.

Electronic trade in Nigeria naira halted for second time

12/02/2015 11:40:53

Electronic trading in Nigeria's naira was halted for an hour on Thursday, triggering circuit breakers for the second time.

S.Africa rand extends losses to six-year low as confidence wilts

11/02/2015 13:29:25

South Africa's rand tumbled well over one per cent to its weakest level against the dollar since October 2008 on Wednesday.

S.Africa's rand slightly firmer, could weaken on global outlook

02/02/2015 07:29:57

The rand was slightly firmer against the dollar early on Monday, with scope to lose some ground after weak manufacturing data from China.

Commodities

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.

Metallon expects to lift Zimbabwe gold output to 150,000 oz this year

15/01/2015 09:34:36

Gold mining company Metallon Corporation's Zimbabwe business expects to raise output by more than half to 150,000 ounces this year.

Brent edges up to $62.35 after earlier crash in volatile trade

15/12/2014 08:49:55

Oil markets saw volatile trading in Asia on Monday as Brent prices first fell to a 5-1/2 year low.

Stocks

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.

Zuma’s cabinet not a surprise for markets

26/05/2014 08:46:02

Markets opened Monday morning relatively flat in the industrials, down in the financials and banks and up in the resources.

Video

News

    Naira firms after oil company USD sales

    Thu, 05 Mar 2015 08:22:14 GMT

    The naira firmed up to 197.80 to the dollar on Wednesday after oil major Shell sold an undisclosed amount of US dollars. However, liquidity remains constrained by an order driven quotation system where dealers can only make bids or offers.

    Nigeria to slash 2015 GDP estimates

    Thu, 05 Mar 2015 08:22:13 GMT

    Nigeria is set to lower its prediction for 2015 economic growth once again, after slashing the country's economic growth projection to 5.5 percent in January, from an earlier 6.4 percent.

    Nigerian ASI green in midweek trading

    Thu, 05 Mar 2015 08:17:14 GMT

    Although the Nigerian markets closed on a positive note for the third time on Wednesday, momentum seemed to be waning as the market made a marginal gain of just 0.05 percent.

    Accessibility of icon to African users

    Thu, 05 Mar 2015 08:07:26 GMT

    CNBC Africa's Brigid Taylor spoke to Bob Schukai, head of advanced product innovation at Thomson Reuters at the Trading Africa summit about mobile applications and the accessibility of Icon to African users.

    Insight into Sanlam’s HEPS increase

    Thu, 05 Mar 2015 07:34:08 GMT

    Sanlam, one of the big S. African financial services groups, reports operating earnings growth of 27 per cent, with normalised headline earnings up three percent. The dividend is 225 cents per share, that's up 13 per cents.

    Facebook - Hot or Not

    Thu, 05 Mar 2015 06:12:12 GMT

    Facebook is a social media giant, listed in 2012, run by Mark Zuckerberg. It also owns Instagram, Whatsapp and Oculus Rift. Market cap of $224.0 billion, PE of 74.does not pay dividends. Coronation has a market cap of R 35.4billion.

    Twitter - Hot or Not

    Thu, 05 Mar 2015 06:02:26 GMT

    Twitter is a customisable news feed and micro-blogging platform with approximately 300 million active users around the world. Market cap of $30.4 billion, the company is neither profitable, nor paying dividends.

    Naspers - Hot or Not

    Thu, 05 Mar 2015 06:02:25 GMT

    Naspers is a multinational media giant with stakes in internet businesses in emerging markets, pay-TV and print media. The group's most significant assets are 35 per cent of Chinese internet company Tencent and wholly-owned Multichoice in Africa.

    Linkedin - Hot or Not

    Thu, 05 Mar 2015 06:02:24 GMT

    Linkedin is a professional information and recruitment network with over 330 million users. It sells information to corporate recruiters and large employers. Market cap of $33.3 billion the company is neither profitable, nor paying dividends.

    Zillow - Hot or Not

    Thu, 05 Mar 2015 06:02:23 GMT

    Zillow is a real estate social media business on the Web and mobile. It provides information about renting, buying, selling, financing and home improvement. It also works with real estate agents, lenders and rental professionals.

    Unpacking the code of ethics for financial markets participants

    Thu, 05 Mar 2015 05:43:05 GMT

    CNBC Africa's Brigid Taylor speaks to David Woolcock, global head of sales & business development at Eurobase and also chair of the Committee for Professionalism at global financial market umbrella body ACI.

    Insight into MTN's FY HEPS increase

    Thu, 05 Mar 2015 05:39:44 GMT

    MTN posted an 8.7 percent rise in full-year diluted headline earnings per share. Richard Hurst, senior analyst, Ovum joins CNBC Africa for more.

    Accelerating capital market development in West Africa

    Thu, 05 Mar 2015 05:39:42 GMT

    The 4th Annual Trading Africa Summit kicked off in Cape Town, with the focus placed on navigating growing illiquid markets. CNBC Africa's Brigid Taylor spoke to Babacar Toure, head of operations at AGENCE UMOA-Titres.

    Is there opportunity in S.Africa's beneficiation policy?

    Wed, 04 Mar 2015 16:19:36 GMT

    What really is the opportunity cost of South Africa's beneficiation? Our guest says policy uncertainty in South Africa's resources sector has become a defining feature of the investment regime and is now a liability.

    Energy minister positive about Uganda's refinery project

    Wed, 04 Mar 2015 16:19:36 GMT

    February was a busy month for the energy sector in Uganda, as plans to build a refinery and commencement of the first licensing round in the petroleum industry were announced.

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Markets

  • All Share53,052.00
     
    -0.14%
    Financial 1516,894.00
     
    0.85%
    Industrial 2566,680.00
     
    0.3%
  • ZAR/EUR13.02
     
    -1.02%
    ZAR/GBP17.95
     
    -0.53%
    ZAR/USD11.80
     
    0.26%
  • Brent Crude Oil60.9
     
    2.36%
    GOLD USD/oz1,199.8
     
    -1.06%
    Platinum USD/oz1,181.0
     
    -0.33%
Price%Change
JSE All Share Index53,052.00Down-0.14%
JSE Financial 1516,894.00Up0.85%
JSE Industrial 2566,680.00Up0.3%
JSE Resources 1043,866.00Down-2.47%
JSE Top 4046,911.00Down-0.13%
Price%Change
ZAR/EUR13.02Down-1.02%
ZAR/GBP17.95Down-0.53%
ZAR/USD11.80Up0.26%
Price%Change
Brent Crude Oil60.9Up2.36%
GOLD USD/oz1,199.8Down-1.06%
Platinum USD/oz1,181.0Down-0.33%

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