Rwanda passes new policy on privatization
In Rwanda, the Cabinet recently approved a new Privatization Policy and Strategy to improve the privatization process of state-owned enterprises as well as respond to the challenges observed.
Nigerian military offered to deploy in Lagos if needed: governor
Fires burned across the commercial capital on Wednesday as roving groups of young men, some protesters still on the streets, and armed police clashed in some neighbourhoods
Opinion: Open Letter to President Buhari of Nigeria
President Buhari, this is an urgent call from those who gave you this mandate: tell the armed forces to stand down and stop shooting at or killing unarmed Nigerians. Undeniably, the lives of young Nigerians are being shed in hopes of a better Nigeria, which you chose to serve.
Altron CEO on Bytes UK listing & how COVID-19 presents opportunities for digital transformation
Altron has reported a 28 per cent increase in headline earnings per share, from the previous comparable period. This is from continuing operations. Despite the impact of COVID-19, the company has declared an interim dividend of 33 cents per share, up 14 per cent from August last year. Altron CEO, Mteto Nyati joins CNBC Africa for more.
Trademark East Africa: How to revive regional trade hit hard by COVID-19 lock-down
Regional trade has hit a snub as a result of the COVID-19 greatly affecting border communities and traders. But could there be a compromise to enable an accelerated bounce back? CNBC Africa’s Arnold Kwizera spoke to Trademark East Africa Country Director, Patience Mutesi Gatera for more.
How Rwanda plans to boost its tourism sector with skills development
Rwanda has positioned itself as a luxury tourism destination, taking the low-volume, high-value approach. In efforts to better service delivery in the tourism and hospitality industry, the country has invested heavily in skills development. CNBC Africa’s Tesi Kaven had a conversation with Julia Mut, the Global Program Manager of EF Education First, for more on how skills development can boost the tourism sector in Rwanda.
Tanzania – Will Magufuli bulldoze his way through the elections?
The media nicknamed him ‘Bulldozer’, or ‘Tingatina’ in Swahili, initially because of his directives as the minister of public works, but the name has stuck due to his aggressive ways as president.
Latest News
Africa Tourism Partners on how to accelerate intra-African travel post-COVID-19
The levels of intra-African travel have remained low due a number of challenges including the cost of travel, lack of air connectivity as well as visa requirements.
IATA downgrades traffic forecast for Africa, a slow & painful recovery for the aviation...
The International Air Transport Association has downgraded its traffic forecast for Africa for 2020, to reflect a weaker-than-expected recovery. IATA now expects full-year 2020 passenger numbers in Africa to reach only 30 per cent of 2019 levels. This is down significantly from the 45 per cent that was projected in July. Joining CNBC Africa to review the airspace developments in Africa and the Middle East is Adefunke Adeyemi, Regional Director for Advocacy and Strategic Relations in Africa, at IATA.
Insider Trading And Congress: How Lawmakers Get Rich From The Stock Market
In spring 2020, four U.S. senators faced accusations of using insider knowledge about the coronavirus crisis to sell off hundreds of thousands of dollars in stock. A couple of months later, the investigations into senators Kelly Loeffler (R-GA), Dianna Feinstein (D-CA), and James Inhofe (R-OK) were closed. Sen. Richard Burr (R-NC) stepped down as chairman of the Senate Intelligence Committee amid the allegations.
Congressional insider trading has long been a hot button issue, and lawmakers continue to look for a way to put an end to the practice. In 2012, the STOCK (Stop Trading on Congressional Knowledge) Act was passed following allegations of insider trading before the 2008 financial crisis. However, experts say the law didn’t go far enough. Watch the video to find out how prevalent insider trading is in Congress and what’s being done, and what’s not being done, to stop it.
CORRECTION (October 21, 2020): A previous version of this video mischaracterized the investment returns from several studies. They should have been characterized as basis points.
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How the economic crisis is hitting young people the hardest | CNBC Reports
An already bleak outlook for young people has been made worse by the coronavirus-induced economic crisis damaging their employment prospects. CNBC’s Silvia Amaro looks at what makes teens and adults in their twenties so vulnerable in this downturn.
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Lagos locked down, army under scrutiny after civilians fired on
The Lagos state governor said 30 people were hurt in the shooting at the gate, a focal point of the protests. One man had died in hospital from a blow to the head, he said, but it was not known if he was a protester.
Mozambique to seek extradition of ex-Credit Suisse bankers involved in $2 billion debt scandal
Hundreds of millions of dollars of the loans the bankers helped arrange went missing. The scandal prompted donors including the International Monetary Fund to cut off support to Mozambique, triggering a currency collapse and debt default.
Newsfeed
Nigerian military offered to deploy in Lagos if needed: governor
Fires burned across the commercial capital on Wednesday as roving groups of young men, some protesters still on the streets, and armed police clashed in some neighbourhoods
Opinion: Open Letter to President Buhari of Nigeria
President Buhari, this is an urgent call from those who gave you this mandate: tell the armed forces to stand down and stop shooting at or killing unarmed Nigerians. Undeniably, the lives of young Nigerians are being shed in hopes of a better Nigeria, which you chose to serve.
Altron CEO on Bytes UK listing & how COVID-19 presents opportunities for digital transformation
Altron has reported a 28 per cent increase in headline earnings per share, from the previous comparable period. This is from continuing operations. Despite the impact of COVID-19, the company has declared an interim dividend of 33 cents per share, up 14 per cent from August last year. Altron CEO, Mteto Nyati joins CNBC Africa for more.
Trademark East Africa: How to revive regional trade hit hard by COVID-19 lock-down
Regional trade has hit a snub as a result of the COVID-19 greatly affecting border communities and traders. But could there be a compromise to enable an accelerated bounce back? CNBC Africa’s Arnold Kwizera spoke to Trademark East Africa Country Director, Patience Mutesi Gatera for more.
Africa Tourism Partners on how to accelerate intra-African travel post-COVID-19
The levels of intra-African travel have remained low due a number of challenges including the cost of travel, lack of air connectivity as well as visa requirements.
IATA downgrades traffic forecast for Africa, a slow & painful recovery for the aviation industry expected
The International Air Transport Association has downgraded its traffic forecast for Africa for 2020, to reflect a weaker-than-expected recovery. IATA now expects full-year 2020 passenger numbers in Africa to reach only 30 per cent of 2019 levels. This is down significantly from the 45 per cent that was projected in July. Joining CNBC Africa to review the airspace developments in Africa and the Middle East is Adefunke Adeyemi, Regional Director for Advocacy and Strategic Relations in Africa, at IATA.
Insider Trading And Congress: How Lawmakers Get Rich From The Stock Market
In spring 2020, four U.S. senators faced accusations of using insider knowledge about the coronavirus crisis to sell off hundreds of thousands of dollars in stock. A couple of months later, the investigations into senators Kelly Loeffler (R-GA), Dianna Feinstein (D-CA), and James Inhofe (R-OK) were closed. Sen. Richard Burr (R-NC) stepped down as chairman of the Senate Intelligence Committee amid the allegations.
Congressional insider trading has long been a hot button issue, and lawmakers continue to look for a way to put an end to the practice. In 2012, the STOCK (Stop Trading on Congressional Knowledge) Act was passed following allegations of insider trading before the 2008 financial crisis. However, experts say the law didn’t go far enough. Watch the video to find out how prevalent insider trading is in Congress and what’s being done, and what’s not being done, to stop it.
CORRECTION (October 21, 2020): A previous version of this video mischaracterized the investment returns from several studies. They should have been characterized as basis points.
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News O...
How the economic crisis is hitting young people the hardest | CNBC Reports
An already bleak outlook for young people has been made worse by the coronavirus-induced economic crisis damaging their employment prospects. CNBC’s Silvia Amaro looks at what makes teens and adults in their twenties so vulnerable in this downturn.
-----
Subscribe to us on YouTube: http://cnb.cx/2wuoARM
Subscribe to CNBC International TV on YouTube: https://cnb.cx/2NGytpz
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#CNBC #youth #economy...
Lagos locked down, army under scrutiny after civilians fired on
The Lagos state governor said 30 people were hurt in the shooting at the gate, a focal point of the protests. One man had died in hospital from a blow to the head, he said, but it was not known if he was a protester.
Mozambique to seek extradition of ex-Credit Suisse bankers involved in $2 billion debt scandal
Hundreds of millions of dollars of the loans the bankers helped arrange went missing. The scandal prompted donors including the International Monetary Fund to cut off support to Mozambique, triggering a currency collapse and debt default.
Insider Trading And Congress: How Lawmakers Get Rich From The Stock Market
In spring 2020, four U.S. senators faced accusations of using insider knowledge about the coronavirus crisis to sell off hundreds of thousands of dollars in stock. A couple of months later, the investigations into senators Kelly Loeffler (R-GA), Dianna Feinstein (D-CA), and James Inhofe (R-OK) were closed. Sen. Richard Burr (R-NC) stepped down as chairman of the Senate Intelligence Committee amid the allegations.
Congressional insider trading has long been a hot button issue, and lawmakers continue to look for a way to put an end to the practice. In 2012, the STOCK (Stop Trading on Congressional Knowledge) Act was passed following allegations of insider trading before the 2008 financial crisis. However, experts say the law didn’t go far enough. Watch the video to find out how prevalent insider trading is in Congress and what’s being done, and what’s not being done, to stop it.
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
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DÉJÀ VU – In tragic vein: Wole Soyinka on Nigeria’s unrest
The mood, and climate of protest changed abruptly, and
devastatingly with that diabolical intrusion. For the first time,
anger and nihilism entered the lists, moving to dominate
emotions.
How architecture can help in the fight against coronavirus
CNBC Africa spoke with Christian Benimana, Senior Principal and Managing Director, MASS Design Group on the role of architecture in fighting a pandemic.
Why harmonization of travel protocols is key to reviving tourism in East Africa
From lockdowns and curfews to testing and quarantines, each member state of the East African Community has employed its own ways to deal with the COVID-19 pandemic. Now as the region undertakes revival of tourism, experts believe harmonizing travel protocols would be vital. Fred Odek, outgoing Chairperson of the East Africa Tourism Platform joins CNBC Africa for more.
How Rwanda is leveraging tech to empower its teachers
It has been noted that building digital skills for the future is a key component in economic and social development.
Brandcom
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Disruptive digital solutions is rewiring the DNA of Banking
By Kennedy Mubita, Africa Head, SC Ventures.
Imagine a bank whose customers can tap on a wearable device to...
Brandcom
The future of banking; digitization and collaboration as growth accelerants
By Kariuki Ngari, CEO & Managing Director, Standard Chartered, Kenya & East Africa
COVID-19 has upended the social and...
Brandcom
Star Quality Speaker Line-Up at Africa Tech Festival 2020
Acknowledged as the world’s largest Africa-focused digital infrastructure and emerging tech event, the Africa Tech Festival has always attracted a stellar line-up of critical thinkers, analysts, futurists, keynote and inspirational speakers. 2020 will more than deliver on that reputation, with a stimulating array of visionary industry presenters, raconteurs and even some sporting greats.
Brandcom
Leveling the playing field for female entrepreneurs in Africa
By Olga Arara-Kimani, Regional Head, Corporate Affairs and Brand & Marketing
Introduction
Mobilising support for female...
Brandcom
Smart Mobility: Gautrain the sustainable way of travel!
The theme for October Transport Month 2020 is Smart Mobility. Smart Mobility is an innovative way of getting around. it is the...
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How SA can prepare for a second COVID-19 wave in Europe
Europe has seen a significant increase in COVID-19 cases in recent weeks, with a second wave of COVID-19 threatening economies – economies that have already been battered by the pandemic. One of the concerns is South Africa’s preparation for the surge in cases in Europe. The markets are also looking at the looming U.S. Presidential election, and performance of emerging markets in the fourth quarter. Jameel Ahmad, Director of Investment Strategy at NAGA joins CNBC Africa for more.
Long4Life CEO: Here’s where we see expansion opportunities
Investment firm Long4Life has reported a 75.5 per cent drop in interim profit, following a significant disruption on all group businesses, due to COVID-19. Long4Life - which owns Sportsmans Warehouse and Sorbet - has reported that trading profit for the six-months ended August declined to R49.1 million. Group revenue fell by 22.6 per cent to R1.4 billion. Long4Life CEO, Brian Joffe joins CNBC Africa for more.
#ENDSARS: Unrest escalates in Nigeria
Tensions in Nigeria are escalating, as citizens call for an end to Police brutality. About two weeks ago unrest erupted, with Nigerians voicing out their anger over abuses by the Special Anti-Robbery Squad. Thousands have taken to the streets, with peaceful protesters being shot and killed. Amnesty International has blamed security forces. A curfew has also been imposed in the capital Lagos. CNBC Africa’s Kenneth Igbomor and Onyekachi Adekoya, Managing Director at PR24 Nigeria share more insight.
UNCTAD on how to tackle trade barriers in Africa
Non-Tariff Barriers are among the main obstacles to intra-African trade. A report by the United Nations Conference on Trade and Development (UNCTAD) shows that African countries could gain USD20BN each year by tackling these barriers at the continental level. CNBC Africa spoke to the Economic Affairs Officer at UNCTAD, Giovanni Valensisi, for more on trade barriers in Africa.
Tough conditions impact StanChart Kenya’s half-year results
Standard Chartered Kenya has reported a decline in the bank’s half year earnings while at the same time taking an interesting route of increasing its loan provisions. CNBC Africa’s Arnold Kwizera caught up with the bank’s CEO Kariuki Ngari for more.
Sanlam Investments partners with Robeco to drive sustainable investing
COVID-19 has accelerated the need for sustainable finance, with economies aiming to build back better. To fast track its impact offering, Sanlam has partnered with Robeco – an international asset manager and pioneer in sustainable investing. Nersan Naidoo, CEO of Sanlam Investments joins CNBC Africa for more.
The money race between Trump and Biden heats up with two weeks left: CNBC After Hours
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC.com's Brian Schwartz breaks down the big fundraising haul from Democratic presidential nominee Joe Biden and what it means for the presidential race with exactly two weeks until Election Day....
Pick n Pay embarks on expansion drive, opens shop in Nigeria
Releasing its interim results today, Pick n Pay reported a 56.3 per cent drop in its comparable headline earnings. The retailer is preparing to open its first store in Nigeria. This is during a time when a number of South African retailers are withdrawing from the West African nation. Continuing its expansion drive, the supermarket chain also announced its purchase of the Bottles app. Pick n Pay CFO, Lerena Olivier joins CNBC Africa for more.
IFC: Nigeria must focus on a wider private sector-led strategy
In its 2020 Country Private Sector Diagnostics report for Nigeria, the International Finance Corporation argues that Nigeria must focus on a wider private sector-led growth strategy to create millions of quality jobs for its population.
Here’s how Kenya plans to boost uptake of electric vehicles
By 2025, electric vehicle imports will make up five per cent of the total number of vehicles registered in Kenya according to a new government strategy that aims to accelerate adoption of electric vehicles in the country. The strategy will also require all new buildings to incorporate charging stations. To understand what this means to the automotive industry and the future electric mobility on the continent, CNBC Africa spoke to Dr. Rebekah Shirley, Chief Research Officer at Power For All.
Africa Press Office
Siemens Energy MEA Energy Week Virtual Conference Reveals 10 Priorities for Successful Energy Transformation...
Ten key priorities for successful long-term energy transformation; Decarbonized energy systems build more sustainable, inclusive and resilient economies; More than 2,500 people joined the virtual conference.
Siemens Energy (https://www.Siemens-Energy.com/) today published the main priorities to enable facilitate a successful long-term energy transition and enable countries to thrive in the lower-carbon world. These findings were based on the discussions held during the MEA Energy Week. The vi
Coronavirus – Ethiopia: COVID-19 reported cases in Ethiopia (21 October 2020)
Daily
Laboratory test: 6,333
Severe cases: 303
New recovered: 868
New deaths: 13
New cases: 628
Total
Laboratory test: 1,416,829
Active cases: 45,226
Total recovered: 44,506
Total deaths: 1,384
Total cases: 91,118Distributed by APO Group on behalf of Ministry of Health, Ethiopia.Media filesDownload logo
Coronavirus – Malawi: COVID-19 Daily Information Update (21st October 2020)
New cases: 3
Total confirmed cases: 5864
Total active cases: 919
Total recovered: 4762 (5 New)
Total number of tests conducted: 58498 (273 New)
Total deaths: 183 (1 New)Distributed by APO Group on behalf of Ministry of Health and Population, Republic of Malawi.Media filesDownload logo
WHO Africa Online Press Briefing on COVID-19 in Africa
Distributed by APO Group on behalf of WHO Regional Office for Africa.Media filesDownload logo
Statement of the Chairperson of the African Union Commission on the situation in the...
Download logoThe Chairperson of the African Union Commission Moussa Faki Mahamat strongly condemns the violence that erupted on 20 October 2020 during protests in Lagos, Nigeria that has resulted in multiple deaths and injuries.
The Chairperson offers his sincere condolences to the families of those who lost their lives and wishes a speedy recovery to the injured.
The Chairperson appeals to all political and social actors to reject the use of violence and respect human rights and the rul
Development finance institutions pledge to sustain COVID-19 mitigation, livelihood recovery
Multilateral development finance institutions on Wednesday pledged to continue to collaborate in their efforts to mitigate the adverse impact of the COVID-19 pandemic and accelerate the recovery of economies and livelihoods.
At an extraordinary virtual meeting to discuss the impact of their responses to the pandemic and the worsening debt situation, the organizations said that sustaining their joint efforts would protect livelihoods, especially among vulnerable populations, preserve macroec
VC4A and ABAN announce 7th and virtual edition of its Africa Early Stage Investor...
3 & 4 November 2020 ONLINE www.AfricaInvestorSummit.com; Two VC4A Venture Showcases - Seed and Series A - in partnership with AWS Activate; The summit is FREE to attend this year - but for investors only please.
VC4A (https://VC4A.com) and ABAN are eager to announce the 7th and virtual edition of the Africa Early Stage Investor Summit (#AESIS2020). The Summit will take place on 3 & 4 November online. With a number of record-level deals making the headlines over the last year, Africa’s s
The OPEC Fund and West African Development Bank (BOAD) boost cooperation in Western Africa
The OPEC Fund for International Development (the OPEC Fund) (www.OPECFund.org) and the West African Development Bank (BOAD) have signed a Framework Agreement to further strengthen their development cooperation in the member countries of the Western African Economic and Monetary Union (WAEMU): Benin, Burkina Faso, Côte-d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
The agreement focuses on increased engagement and knowledge-sharing between the two institutions and ensure
Weekly Press Briefing on Coronavirus Disease Outbreak
Distributed by APO Group on behalf of Africa Centres for Disease Control and Prevention (Africa CDC).Media filesDownload logo
African Development Bank AgriPitch Competition: $120,000 in prizes on offer during African Youth Agripreneur...
There are just hours to go until the 23 October deadline to enter the African Development Bank’s (www.AfDB.org) AgriPitch Competition. Selected entries by African youth agripreneurs will be invited to showcase their agribusiness startup plans and compete for a share of $120,000 in funding seed prizes, a slot of the competition’s business development boot camp, an audience of online panel of experts and investors to pitch their agribusiness plans, as well as receive post-event mentori
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RURA’s Director General speaks on new fares & public buses returning to full capacity
A recent cabinet resolution permitted public buses in Rwanda to operate at full capacity after months of running at half capacity as a measure to curb the spread of COVID-19. A few days after, Rwanda Utilities Regulatory Authority (RURA) announced revised transport fares which have drawn criticism from the public. So are the new fares fair? Rwanda Utilities Regulatory Authority, Director General, Patrick Nyirishema explains.
#ENDSARS: 6 states institute judicial panels
Six of the 36 states in Nigeria have inaugurated Judicial panels on police brutality in their respective states. The move comes after a directive by the Nigeria Economic Council informing all state governors to take charge of these panels in the wake of the #ENDSARS protest. Valentine Utulu, Managing Partner at Legal Crest joins CNBC Africa’s Kenneth Igbomor for this conversation.
Health entrepreneur Lenias Hwenda on how to bring down the cost of medicine in Africa
One of the great divides this COVID-19 pandemic has brought to light is the difference between the survival prospects for the rich and the poor. Health entrepreneur Lenias Hwenda joins CNBC Africa's Chis Bishop to discuss how to bring down the cost of medicine in Africa....
Institute for National Transformation’s Vincent Anigbogu on how to find solutions to the #Endsars protests
At this year’s Independence Day celebration, President Muhammadu Buhari stated that sixty years of Nigeria’s nationhood provides an opportunity for everyone to ask questions on the extent to which the country has sustained the aspirations of its founding fathers. If it’s on the right course and if not how can Nigeria remedy and retrace its steps. Few days after the speech, Nigerian youths took to the streets to demand for police reforms after a young man was shot in Delta State by police officers. Professor Vincent Anigbogu, Director-General of the Institute for National Transformation joins CNBC Africa for more.
Choppies: Where is the business now & what does the future hold?
Botswana supermarket chain Choppies and PwC’s Botswana branch are embroiled in a legal dispute, over the auditing firm not signing off the company’s 2018 accounts. The retailer blames the delay for the collapse in its share price, which led to its suspension from the Gaborone Stock Exchange and the Johannesburg Stock Exchange. Ramachandran Ottapathu, CEO of Choppies joins CNBC Africa for more.
South Sudan: Oil firm bids to set up regional refinery
Trinity Energy Limited, South Sudan's oil marketing firm is set to invest $10million in its Kenyan operations and also plans to build a $500 million crude oil refinery in South Sudan to serve the region with refined petroleum products. Parek Maduot, Director of Economic Development &Regional Integration, at the International Conference on the Great Lakes Region joins CNBC Africa for more.
COVID-19: Africa Academy of Sciences on the state of clinical trials in Africa
Pfizer and BioNTech have recently started phase III trials of a potential COVID-19 vaccine. This comes at a time when a joint the Regional Expert Committee on Traditional Medicine for COVID-19 formed by the World Health Organization (WHO), the Africa Centre for Disease Control and Prevention and the African Union Commission for Social Affairs has endorsed a protocol for phase III clinical trials of herbal medicine for COVID-19 so what is the current state for clinical trials on the continent? Dr. Thomas Nyirenda, Director of Programs at the Africa Academy of Sciences joins CNBC Africa for more.
With Instagram, hashtags and bitcoin, young Nigerians boost anti-police protests
Thousands of people have taken to the streets daily across the country in one of the biggest shows of public anger in 30 years, posing a major challenge to President Muhammadu Buhari amid an economic slump made worse by the coronavirus pandemic.
#ENDSARS: What the protests mean for Nigeria’s economy & investment outlook
The peaceful #EndSars protest against police brutality across Nigeria took a new turn in recent days, as hoodlums attempt to hijack the process.
COVID-19 lock-down: How Rwanda is responding to the economic fallout of school closures
The government of Rwanda revealed its plans to reopen schools, starting gradually in October and concluding in November 2020. The temporary school closure started in March 2020 as a means to mitigate the spread of the COVID-19 pandemic. Initially the reopening of schools was planned for September 2020. This episode of Doing Business in Rwanda delves into the economic impact of the school closures....
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