News - CNBC Africa

Southern Africa

Zambia power cuts affect Canada mines

28/07/2015 12:59:10

Power cuts in north-western Zambia, Africa's second-biggest copper producer, have affected production at mines run by Canada.

Angola central bank raises benchmark rate

28/07/2015 12:43:19

Angola's central bank raised its benchmark lending rate by 50 basis points.

BAT Zimbabwe unit's H1 profit up on higher prices, cost cuts

27/07/2015 16:54:28

Cigarette maker British American Tobacco's Zimbabwe unit reported higher first-half profit after raising prices and cutting costs.

“Final offer” on the cards for gold mineworkers

27/07/2015 16:17:53

The NUM spent the day in bi-lateral talks with the employers Monday.

Western Africa

Tech start-ups in Lagos attract international capitalists

28/07/2015 15:25:10

In between the run-down buildings in this seemingly inauspicious part of Lagos, a city of around 21 million, tech start-ups are taking root

Nigeria's AMCON to expose loan defaulters

28/07/2015 15:09:06

Nigeria's "bad bank" AMCON on Monday asked loan defaulters to immediately square their accounts or it would publish their names.

Nigeria shares gas revenues to cover debts

28/07/2015 12:48:54

Nigeria has begun the process of sharing $2.1 billion with federal, state and local governments to reduce a growing backlog of debts.

Nigeria begins sharing $2.1 bln gas revenues to cover state government debts

28/07/2015 08:33:45

Nigeria has begun the process of sharing $2.1 billion with federal, state and local governments to reduce a growing backlog of debts.

East Africa

Kenya central bank governor says no preferred level for shilling

28/07/2015 14:49:37

Kenya's central bank is focused on taming volatility in the exchange rate and has no optimal level for the shilling.

National Bank of Kenya doubles H1 pretax profit

28/07/2015 12:05:30

National Bank of Kenya doubled its first-half pretax profit to 2.5 billion shillings ($24 million) after its non-interest income jumped.

Political unrest pushes Burundi's inflation to 7.7 pct in June

28/07/2015 11:56:30

Burundi’s inflation rate rose to 7.7 percent year-on-year in June from 7.2 percent in May after political unrest.

Burundi parliament opens after disputed poll, opposition takes seats

28/07/2015 08:42:21

Burundi's parliament sat for the first time on Monday after President Pierre Nkurunziza won a disputed election last week.

Financial

South Africa's rand picks up

28/07/2015 15:01:05

South Africa's rand recovered slightly early on Tuesday after touching a fresh 14-year in the previous session.

South Africa's rand weakens as China growth woes weigh

24/07/2015 08:30:25

S.Africa's rand fell to its weakest in more than two weeks as concerns about growth in China overrode domestic interest rate increase.

South Africa's rand recovers as gold halts decline

21/07/2015 09:27:15

South Africa's rand recovered on Tuesday as the dollar paused a recent rally fuelled by falling gold prices.

South Africa's rand retreats on rate uncertainty

20/07/2015 08:48:39

S.Africa's rand weakened against the dollar on Monday as investors cautiously awaited a borderline local interest rate decision this week.

Industrials

South Africa's MTN expects lower H1 earnings, shares drop

28/07/2015 12:27:01

Shares in South Africa's MTN fell 5 percent as the company said it expects a drop in first-half earnings, blaming a weaker exchange rate.

Fuel retailer Total Nigeria's H1 pretax profit rises

28/07/2015 12:14:49

Total Nigeria, the local unit of France's Total, reported a 7.6 percent rise in pre-tax profit to 3.68 billion naira ($19 million).

South Africa's Pick n Pay plans new stores, jobs

27/07/2015 16:21:07

South Africa's Pick n Pay plans to employ 5,000 people a year as it opens new stores in Africa's most advanced economy.

ArcelorMittal's South Africa unit asks govt to impose steel protection tariff

23/07/2015 16:24:08

Africa's biggest steel maker ArcelorMittal South Africa said unless the government imposes tariff duties to counter cheap Chinese steel

Mining

South Africa's NUM union signs wage deal with Village Main Reef

28/07/2015 12:31:26

South Africa's South Africa's National Union of Mineworkers said on Monday it had signed a two-year wage agreement with Village Main Reef.

Company that acquired Rio’s Mozambique coal assets eyes expansion

27/07/2015 16:29:03

A year after Rio Tinto pulled the plug on its Mozambique coal venture, the Indian company that bought the assets is planning to expand.

Assets for sale at Anglo American

24/07/2015 11:18:18

The head of global mining firm Anglo American said on Friday the company could sell more assets.

South Africa's Evraz unit could lay off more than 1,000 workers

21/07/2015 17:10:45

The steelmaker said on Monday it had pulled the plug on its South African iron operations, citing a lack of working capital.

Resources

South Africa's Saldanha Bay crude depot full: sources

27/07/2015 10:18:25

South Africa’s 45 million barrel strategic crude reserve depot is filled to capacity

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.

Technology

S.African mobile operator MTN agrees deal to end two-month strike

16/07/2015 14:16:53

MTN Group and union leaders reached a deal over bonuses on Thursday, ending a two-month strike.

Now or never: Why timing matters in making the jump to ecommerce

12/06/2015 11:27:15

Digital Planet CEO Neil Watson makes the case for adding an online sales channel before it’s too late.

S.Africa's Telkom to cut 4,400 jobs to contain costs: spokeswoman

10/06/2015 08:29:50

Telkom spokeswoman said her company plans to cut 4,400 jobs to contain costs.

Striking MTN workers reject performance targets

01/06/2015 17:48:22

A strike by workers demanding higher pay has forced MTN Group to close some of its South African customer help centres.

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

S.Africa's rand gains, supported by hopes of Greek breakthough

22/06/2015 10:06:44

The rand inched close to a one-month high on Monday as hopes of a breakthrough in the Greek debt crisis supported emerging markets assets.

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.

Commodities

Heineken, Diageo end joint ventures in South Africa, Namibia

28/07/2015 12:21:00

Dutch brewer Heineken and spirits maker Diageo have agreed to end their 11-year cooperation in South Africa and Namibia.

South Africa's June headline CPI quickens to 4.7 pct

22/07/2015 11:47:28

South Africa's headline consumer inflation quickened to 4.7% year-on-year in June, well below expectations, compared to 4.6 percent in May.

South Africa's rand firms as commodity prices recover

21/07/2015 16:58:55

South Africa's rand strengthened against the dollar on Tuesday supported by a recovery in commodity prices.

Gold hits five-year low under $1100 on Chinese selling

20/07/2015 14:55:43

Gold prices plunged as much as 4 percent to their lowest in more than five years on Monday.

Stocks

Asian shares wilt in shadow of Wall Street's earnings woes

22/07/2015 11:14:20

Asian stocks skidded on Wednesday after weak earnings dragged down U.S. equities.

Euro sharply down as Greece crisis deepens, default looms

29/06/2015 07:02:04

Emerging market stocks are headed for the steepest drop in two years as Greece is strike a deal with lenders.

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

Video

News

    Tracking Investec's Opportunity Fund

    Wed, 29 Jul 2015 04:49:01 GMT

    CNBC Africa's Lindsay Williams talks to Sumesh Chetty from Investec Asset Management on the performance of the firm's Opportunity Fund, taking a closer look at the fund's asset allocation and top holdings.

    Leaders in healthcare chart a course for the future

    Wed, 29 Jul 2015 04:39:17 GMT

    Dr Humphrey Zokufa, managing director, Board of Healthcare Funders joins CNBC Africa to talk about sustainable future healthcare systems.

    China stocks suffer sharpest daily fall since 2007

    Wed, 29 Jul 2015 04:39:14 GMT

    Shanghai Composite Index plunged 8.5 per cent yesterday the most since 2007 and a further 1 per cent - how should investors be reading this?

    Omnia - Hot or Not

    Wed, 29 Jul 2015 03:55:50 GMT

    Omnia was founded in 1953 and manufactures explosives, fertiliser and general chemicals. Its principal operations are in Vanderbijlpark. It has a market cap of 12,1 billion rands, a PE of 12.66 and a dividend yield of 2.7 per cent .

    Nigeria's market volatile

    Wed, 29 Jul 2015 03:55:49 GMT

    Nigeria's equities market continues to swing between gains and losses as investors digest mixed half year earnings from listed companies. Lanre Buluro, Head Investment research at Primera Africa joins CNBC Africa for more.

    Afrox - Hot or Not

    Wed, 29 Jul 2015 03:55:48 GMT

    Afrox is sub-Saharan Africa's market leader in gases and welding products. It was founded in 1927 and listed on the JSE in 1963 and is controlled by German parent company, The Linde Group. The company has a market cap of 4.4billion rands.

    AECI - Hot or Not

    Wed, 29 Jul 2015 03:55:47 GMT

    AECI is a South African-based explosives and specialty chemicals group with regional international businesses in Africa, Brazil, Indonesia and the USA. It services the mining and manufacturing sectors.

    Sasol - Hot or Not

    Wed, 29 Jul 2015 03:55:46 GMT

    Sasol is an international integrated energy and chemical company operating in 37 countries. It was established in 1950 and is one of the country's largest investors in capital projects. It has a market cap of 260 billion rands.

    Rolfes - Hot or Not

    Wed, 29 Jul 2015 03:55:44 GMT

    Rolfes manufactures, buys-in and distributes a wide range of chemical products. It has a market cap of 374million rands, a PE of 9.08 and a dividend yield of 1.45 per cent .

    AfDB approves first partial credit guarantee of risk management product

    Tue, 28 Jul 2015 15:26:49 GMT

    The African Development Bank (AfDB) recently approved its first partial credit guarantee of risk management product.

    How will Kenyan farmers benefit from the GES?

    Tue, 28 Jul 2015 15:26:46 GMT

    The just concluded Global Entrepreneurship summit held in Kenya lifted the East African nations profile as a hub for innovation and entrepreneurship.

    How AECI is riding out the commodities storm

    Tue, 28 Jul 2015 15:18:22 GMT

    In a tough environment, AECI CEO Mark Dytor says the company is diversifying its business and looking for further acquisitions in Africa in water, agricultural chemicals and food additives.

    DRDGOLD is not being traded on its fundamentals - CEO

    Tue, 28 Jul 2015 15:08:34 GMT

    DRDGOLD CEO Niel Pretorius believes gold miners need to sail through the current storm and make sure their businesses are resilient for when the gold cycle turns.

    The importance of long term insurance

    Tue, 28 Jul 2015 14:34:51 GMT

    CNBC Africa is joined by Wayne McCurrie, Head of Wealth Portfolio Management at Momentum Wealth for a look at the importance of long term insurance.

    National Bank of Kenya doubles H1 pre-tax profit

    Tue, 28 Jul 2015 14:06:11 GMT

    National Bank of Kenya (NBK) doubled its first-half pre-tax profit to 2.5 billion shillings ($24 million) after its non-interest income jumped, the lender said on Tuesday.

    Advtech holds talks with shareholders

    Tue, 28 Jul 2015 13:59:00 GMT

    Private education group Advtech, held its annual general meeting and as expected there was heated debate over the unsolicited 6 billion rands takeover attempt by larger rival Curro Holdings.

    Supporting SME e-payments in Africa

    Tue, 28 Jul 2015 13:44:42 GMT

    Small and Medium enterprises have been under pinned as key contributors to the growth of many African economies.

    Barclays Bank Africa challenge

    Tue, 28 Jul 2015 13:38:52 GMT

    Barclays Bank has launched a supply chain challenge offering young African entrepreneurs the chance to demonstrate supply chain solutions aimed at lowering the cost of doing business in a bid to win a 10,000 dollars cash prize.

    E.Africa's financial markets continue to gain traction

    Tue, 28 Jul 2015 13:26:38 GMT

    East Africa's financial markets have been picking the pace, and continue to attract more attention from local and global investors alike.

    Ecobank: Removal of subsidies could reduce Nigeria's gasoline consumption

    Tue, 28 Jul 2015 13:09:08 GMT

    The government of Ghana recently revised its budget deficit target to 7.3 percent of GDP from 6.5 percent, while trimming the economic growth estimate to 3.5 percent.

    Reviewing the Ghanaian economy

    Tue, 28 Jul 2015 13:00:18 GMT

    The government of Ghana recently revised its budget deficit target to 7.3 percent of GDP from 6.5 percent, while trimming the economic growth estimate to 3.5 percent.

    Nigeria ASI down fifth consecutive session

    Tue, 28 Jul 2015 13:00:13 GMT

    The NSE All Share Index is down for the fifth consecutive session. All the sectoral indices are down with the NSE Banking and Oil and gas indices taking the biggest hit.

    Tom Albanese: China's growth isn't finished

    Tue, 28 Jul 2015 10:20:40 GMT

    Mining industry veteran and Former Rio Tinto boss Tom Albanese says China's growth story isn't finished. Albanese now Chief Executive Officer of Vedanta Resources spoke to CNBC Africa.

    Nigerian bourse strives for world class

    Tue, 28 Jul 2015 10:13:50 GMT

    The NSE All Share Index is down 11 per cent this year, a slide driven by macro factors. Meanwhile, the management of the NSE has been working on several initiatives to improve liquidity, diversify the product offering and to lift the market.

    Fidelity Bank expects growth

    Tue, 28 Jul 2015 10:13:48 GMT

    Fidelity Bank expects to grow loans by 10 per cent this year, short of 27.1 per cent growth last year. Fidelity Bank said while presenting its half-year results in a conference call on Monday.

1 | 2 | 3 | 4 | 5 | Next

Markets

  • All Share50,758.00
     
    -1.05%
    Financial 1516,819.00
     
    -0.85%
    Industrial 2565,598.00
     
    -1.35%
  • ZAR/EUR13.90
     
    0.37%
    ZAR/GBP19.59
     
    0.28%
    ZAR/USD12.58
     
    0.07%
  • Brent Crude Oil52.9
     
    -3.13%
    GOLD USD/oz1,095.1
     
    -0.44%
    Platinum USD/oz980.4
     
    -0.49%
Price%Change
JSE All Share Index50,758.00Down-1.05%
JSE Financial 1516,819.00Down-0.85%
JSE Industrial 2565,598.00Down-1.35%
JSE Resources 1035,168.00Down-0.2%
JSE Top 4045,290.00Down-1.04%
Price%Change
ZAR/EUR13.90Up0.37%
ZAR/GBP19.59Up0.28%
ZAR/USD12.58Up0.07%
Price%Change
Brent Crude Oil52.9Down-3.13%
GOLD USD/oz1,095.1Down-0.44%
Platinum USD/oz980.4Down-0.49%

Advertisement

Latest Video


Advertisement

Most Commented

Trending

Most Watched

Advertisement


Property Focus