KAMPALA (Reuters) &#8211; Uganda’s central bank left its benchmark lending rate unchanged at 7% on Monday, pausing after two straight cuts aimed at helping revive economic growth hit by the COVID-19 pandemic.



In line with other central banks around the world, policymakers in the East African nation embarked on an easing round at the start of the coronavirus crisis, to try to limit the damage to the economy.



“(The easing stance) provided a foundation for the recovery of economic activity as the lockdown is relaxed,” the bank said in a statement.



The World Bank expects economic growth in Uganda to fall as low as 0.4% in 2020 from 5.6% last year, as the effects of the virus batter sectors including tourism, exports and manufacturing.



Policymakers cut a total of 200 basis points during their meetings in April and June to accelerate the flow of cheap credit to businesses struggling from the effects of a lockdown the government implemented to curb the spread of the new coronavirus.



The central bank expects economic growth in the 2020/21 fiscal year in the range of 3.0-4.0 percent, said its governor, Emmanuel Tumusiime-Mutebile, in a statement.



“The economic outlook is extremely uncertain, largely because of the unpredictable intensity and duration of the pandemic,” he said, adding the possibility of a widespread and possibly more severe second wave of COVID-19, is a major risk.



Uganda implemented one of the Africa’s tightest anti-coronavirus lockdowns that included shuttering all businesses but the most essential, banning all vehicle movement and public gatherings.

money-banknotes-finance-banknote-currency-wealth-profit-capital-business

Uganda central bank holds lending rates after two cuts

<a href="https://www.bloomberg.com/news/articles/2020-08-05/more-bailout-cash-may-just-delay-wave-of-credit-card-defaults?sref=Hjm5biAW">Millions of Americans are unemployed</a>&nbsp;and looking for work.&nbsp;<a href="https://www.bls.gov/news.release/jolts.nr0.htm">Hiring continues</a>, but there’s far more demand for jobs than supply.



As scholars of&nbsp;<a href="https://scholar.google.com/citations?user=ojhiOlgAAAAJ&amp;hl=en&amp;oi=ao">human resources</a>&nbsp;and&nbsp;<a href="https://scholar.google.com/citations?user=D2pc8ugAAAAJ&amp;hl=en&amp;oi=ao">management</a>, we believe artificial intelligence could be a boon for job seekers who need an edge in a tight labor market like today’s.



What’s more,&nbsp;<a href="https://doi.org/10.1016/j.bushor.2019.12.001">our research</a>&nbsp;suggests it can make the whole process of finding and changing jobs much less painful, more effective and potentially more lucrative.



<h2 class="wp-block-heading">Make me a match</h2>



Over the last three years, we’ve&nbsp;<a href="https://doi.org/10.1016/j.chb.2018.09.009">intensely studied</a>&nbsp;the role of&nbsp;<a href="https://doi.org/10.1016/j.bushor.2019.07.004">AI in recruiting</a>. This research shows that job candidates are positively inclined to use AI in the recruiting process and find it more convenient than traditional analog approaches.



Although companies&nbsp;<a href="https://www.vox.com/recode/2019/12/12/20993665/artificial-intelligence-ai-job-screen">have been using</a>&nbsp;<a href="https://doi.org/10.1016/j.bushor.2019.12.001">AI in hiring</a>&nbsp;for a few years, job applicants have only recently begun to discover the power of artificial intelligence to help them in their search.



In the old days, if you wanted to see what jobs were out there, you had to go on a job board like&nbsp;<a href="https://www.monster.com/">Monster.com</a>, type in some keywords, and then get back hundreds or even thousands of open positions, depending on the keywords you used. Sorting through them all was a pain.



Today, with AI and companies like&nbsp;<a href="https://eightfold.ai/">Eightfold</a>,&nbsp;<a href="https://skillroads.com/">Skillroads</a>&nbsp;and&nbsp;<a href="https://fortay.co/">Fortay</a>, it is less about job search and more about matchmaking. You answer a few questions about your capabilities and preferences and provide a link to your&nbsp;<a href="https://www.linkedin.com/">LinkedIn</a>&nbsp;or other profiles. AI systems that have already logged not just open jobs but also analyzed the companies behind the openings – based on things like reputation, culture and performance – then produce match reports showing the best fits for you in terms of job and company.



Typically, there is an overall match score expressed as a percentage from 0% to 100% for each job. In many cases the report will even tell you which skills or capabilities you lack – or have not included – and how much their inclusion would increase your match score. The intent is to help you spend your time on opportunities that are more likely to result in your getting hired and being happy with the job and company after the hire.



<h2 class="wp-block-heading">Crafting a winning CV</h2>



Usually, when you look for a job, you apply to lots of openings and companies at the same time. That means two choices: save time by sending each one a mostly generic resume, with minor tweaks for each, or take the time and effort to adjust and tailor your resume to better fit specific jobs.



Today,&nbsp;<a href="https://www.mentalfloss.com/article/516793/ai-tool-will-help-you-write-winning-resume">AI tools</a>&nbsp;can help customize your resume and cover letter for you. They can tell you what capabilities you might want to add to your resume, show how such additions would influence your chances of being hired and even rewrite your resume to better fit a specific job or company. They can also analyze you, the job and the company and craft a customized cover letter.



While researchers have not yet systemically examined the quality of human- versus AI-crafted cover letters, the AI-generated samples we’ve reviewed are difficult to distinguish from the ones we’ve seen MBA graduates write for themselves over the last 30 years as professors.&nbsp;<a href="https://twitter.com/ConversationUS/status/1291815439333330944">Try it for yourself</a>.



Granted, for lots of lower-level jobs, cover letters are relics of the past. But for higher-level jobs, they are still used as an&nbsp;<a href="https://www.businessinsider.com/why-cover-letters-are-important-2014-9">important screening mechanism</a>.



<figure class="wp-block-image"><img decoding="async" src="https://images.theconversation.com/files/351645/original/file-20200806-24-1fy3xg4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Images of two cover letters for a job application, one written by a real MBA student, the other by artificial intelligence."/><figcaption>One of these cover letters was written by an MBA student. The other was generated by artificial intelligence. Can you tell which one is which?&nbsp;Author provided,&nbsp;Author provided</figcaption></figure>



<h2 class="wp-block-heading">Show me the money</h2>



Negotiations over compensation are another thorny issue in the job search.



Traditionally, applicants have been at a distinct informational disadvantage, making it harder to negotiate for the salary they may deserve based on what others earn for similar work. Now AI-enabled reports from&nbsp;<a href="https://www.payscale.com/">PayScale.com</a>,&nbsp;<a href="https://www.salary.com/">Salary.com</a>,&nbsp;<a href="https://www.linkedin.com/salary/">LinkedIn Salary</a>&nbsp;and others provide salary and total compensation reports tailored to job title, education, experience, location and other factors. The data comes from company reported numbers, government statistics and self-reported compensation.



For self-reported data, the&nbsp;<a href="https://www.moneyunder30.com/best-salary-information-websites">best sites</a>&nbsp;conduct statistical tests to ensure the validity and accuracy of the data. This is only possible with large databases and serious number crunching abilities. PayScale.com, for example,&nbsp;<a href="https://www.payscale.com/about/use-our-data">has over 54 million respondents</a>&nbsp;in its database and surveys more than 150,000 people per month to keep its reports up-to-date and its database growing.



Although no academics have yet tested if these reports result in better compensation packages than in the old days,&nbsp;<a href="https://www.jstor.org/stable/4165077?seq=1">research has long established</a>&nbsp;that negotiating in general gets candidates better compensation offers, and that more information in that process is better than less.



[Deep knowledge, daily.&nbsp;<a href="https://theconversation.com/us/newsletters/the-daily-3?utm_source=TCUS&amp;utm_medium=inline-link&amp;utm_campaign=newsletter-text&amp;utm_content=deepknowledge">Sign up for The Conversation’s newsletter</a>.]



<h2 class="wp-block-heading">Growing use of AI in hiring</h2>



Use of these tools is growing, especially among young people.



A survey&nbsp;<a href="https://doi.org/10.1016/j.chb.2018.09.009">we conducted in 2018 found</a>&nbsp;that half of employed workers aged 18 to 36 said that they were likely or highly likely to use AI tools in the job search and application process. And 64% of these respondents felt that AI-enabled tools were more convenient.



Most of the research on the use of AI in the hiring process – including our own – has focused on recruitment, however, and the use of the technology&nbsp;<a href="https://www.oracle.com/a/ocom/docs/artificial-intelligence-in-talent-acquisition.pdf">is expected to double</a>&nbsp;over the next two years. We’ve found it to be&nbsp;<a href="https://doi.org/10.1016/j.bushor.2019.12.001">effective for companies</a>, so it seems logical that it can be very useful for job candidates as well. In fact, at least US$2 billion in investments are fueling human resources startups aimed at using AI to help job candidates, according to our analysis of&nbsp;<a href="https://www.crunchbase.com/hub/human-resources-startups#section-leaderboard">Crunchbase business data</a>.



While more research is needed to determine exactly how effective these AI-enabled tools actually are, Americans who lost their jobs due to the coronavirus could use all the help they can get.

web-network-technology-developer

Lost your job due to coronavirus? AI could be your best friend in finding a new one

GABORONE (Reuters) &#8211; Botswana’s rough diamond exports plunged 68% percent in the second quarter of the year, data published by the central bank showed on Friday, as the Coronavirus pandemic hit demand while global travel restrictions hurt trading.



In a bid to curb the spread of the virus, Botswana closed its borders in March, locking out international buyers from centres such as Mumbai, Antwerp and China who traditionally travel to Gaborone ten times a year to view and buy diamonds.



Exports of diamonds from Debswana, a joint venture between Botswana and diamond mining giant De Beers, a unit of Anglo American, stood at $293 million in the second quarter of 2020, from $916 million in the preceding period.



No exports were recorded in May, while only $20 million worth of diamonds were exported in June, the Bank of Botswana’s data showed.



De Beers, which gets about 70% of its supply from Botswana registered a net loss of $214 million in the first half of the year, as rough sales plunged by more than half to $1 billion, the company said in its results last week.



The fall in diamond exports is expected to hurt Botswana’s balance of payments deficit, as diamonds constitute 70 percent of the country’s exports.



Through the partnership with De Beers, Botswana also gets about 30% of its fiscal revenues from diamonds. It has so far recorded just 800 COVID-19 cases and only two deaths, but its economy has been severely hit.



($1 = 11.7925 pulas)

diamonds-black-background

Botswana diamond exports fall by two thirds on COVID-19

JOHANNESBURG (Reuters) &#8211; South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.



Shunned by investors due to mines that are old, deep, and difficult to extract, the country’s gold miners have traded at a discount to their global peers for years.



Higher prices, as spot gold roared past $2,000 an ounce for the first time, coupled with a weaker rand currency, comes as a lifeline.



Interviews with companies executives, analysts and fund managers show that higher gold prices could see some local miners bring their net debt to zero and pay healthy dividends over the next 18 to 24 months.



“Gold mining companies will spew a lot of cash in the next 12 months,” said Franco Lorenzani, an independent mining analyst.



&nbsp;&nbsp;&nbsp; Sibanye Stillwater, which has battled high debt, said it achieved its leverage target in the first quarter, ahead of plan.



Its net debt, which stood at 20.964 billion rand ($1.2 billion) in 2019, dropped 40% year-on-year in the first quarter.



Higher prices have also made more marginal ounces profitable for Sibanye, spokesman James Wellsted told Reuters, adding the company was looking at other ways to benefit from favourable market conditions.



“Maybe mining secondary reefs &#8230; might be viable at these prices,” said Wellsted.



Pan African Resources is hoping to be net debt free by June 2021 and plans to increase its dividend payout to 5% from 1% last year, its head of investor relations Hethen Hira said. Its net debt dropped 49% to $62.5 million at end December.



Gold Fields has flagged hefty gains from the gold rally, with half-year profits seen up more than 300%.



Rene Heichreiter of Noah Capital said he was advising his clients to continue to invest in local gold miners, predicting a exponential jump in revenues in the coming months.



Some investors have already turned bullish.



Factsheets of fund managers seen by Reuters show South Africa’s Fairtree increased its exposure to Harmony Gold by 0.78% between March and June, while U.S.-based ASA Ltd, which invests in gold mining companies globally, increased its investments in South Africa to 10.7% in June from 9.9% in January.



But the operating environment remains risky.



While power cuts and regulatory uncertainty have always hung over operations, the mining sector is also battling rising COVID-19 cases in underground mines where social distancing is a challenge.



This could threaten output, as some analysts warn the frenzy over high prices could backfire as investments add to costs.



“Whenever the gold prices go up the costs tend to go up with it,” said Nedbank mining analyst Arnold Van Graan.



($1 = 17.5317 rand)

gold-is-money-2430051_1280

Record bullion prices give South African gold miners a lifeline, risks remain

JOHANNESBURG (Reuters) &#8211; Behind Monageng Legae’s funeral parlour in the South African township of Soweto sits a refrigerated shipping container made to store chilled goods. Now it stores bodies.



Funeral businesses like Legae’s Sopema Funerals have taken such measures to cope with the influx of bodies into their morgues as South Africa’s coronavirus cases rise above half a million, with deaths at around 9,000.



Surrounded by coffins in his showroom and wearing a protective mask and visor, Legae told Reuters that he handled 85 funerals in June and 75 in July, compared with 30 a month this time last year.



The cost of the container, along with outlays on a temporary outdoor waiting area, more staff and an additional night shift, has helped wipe out additional revenues.



Legae said the government should do more for under-pressure funeral parlours. “People forget that this industry is actually playing a pivotal role.”



Funeral directors say that beyond the spike in deaths from COVID-19 &#8211; the disease associated with the coronavirus &#8211; they have to cope with coffin shortages and delays in the issuance of death certificates.



Data showed in July that South Africa had 59% more deaths than would normally be expected between early May and mid-July, suggesting more people were dying of COVID-19 than official figures show.



Amid the scramble, funeral parlours aren’t always able to balance strict regulations with the expected sensitivity: there have been reports in local media of the wrong bodies being interred.



Stephen Fonseca, regional forensics adviser for Africa at the International Committee of the Red Cross, said South Africa’s experience should serve as a warning for other nations as the continent’s cases near 1 million.



“Once a country is facing a COVID-19 surge, it is too late to plan for how to manage mass casualties in a way that is both safe for the body handlers and dignified for the families of the deceased,” he said.Slideshow&nbsp;(5 Images)



Even Avbob, the country’s biggest funeral provider by market share that was established during the 1918 Spanish influenza pandemic, has had to make changes to cope with COVID-19.



It has buried some 25% of the country’s coronavirus dead and saw a 60% rise in burials in July, Pieter van der Westhuizen, its general manager funeral service, said, adding Avbob has set up 13 mortuaries in shipping containers and is building 4 more.



“If we didn’t &#8230; we might have ran into trouble,” he said.

CDC coronavirus

South Africa’s funeral parlours turn to makeshift mortuaries as virus deaths rise

JOHANNESBURG (Reuters) &#8211; South African President Cyril Ramaphosa has set up a ministerial committee to investigate alleged corruption in state tenders in the fight against COVID-19, his office said on Thursday, including with businesses supplying protective gear.



Reports of suspect deals between government officials and businesses providing medical equipment, as well as food aid parcels to the poor, have sparked outrage in South Africa, where more than half a million cases of the coronavirus that causes COVID-19 make it the fifth largest outbreak in the world.



South Africa’s anti-corruption watchdog said on Monday it was investigating irregularities in these contracts, the latest in a series of high-profile graft scandals involving politically-connected individuals.



Reports of corruption are embarrassing for Ramaphosa, who took over from Jacob Zuma as president more than two years ago on a promise of stamping out the graft associated with his predecessor.



“The committee will look into corruption in the procurement of goods and services sourced for the purpose of containing and responding to the COVID-19 pandemic,” the statement from Ramaphosa’s office said, adding that this “includes the procurement of personal protective equipment (PPE)”.



Nurses have complained of widespread shortages of PPE that have enabled infections to spread to staff and other patients in hospitals.



The president in a newsletter this week pledged to “finally deal with the entrenched patronage networks that enable government employees to bid for state contracts through their friends and relatives”.



Ramaphosa’s spokeswoman, Khusela Diko, and a top Gauteng health official have taken leaves of absence after a media report said that Diko’s husband won PPE contracts with the Gauteng government. She and her husband deny any wrong-doing.

gettyimages-1006175054-594×594

South Africa’s Ramaphosa sets up body to probe COVID-19 corruption

ADDIS ABABA (Reuters) &#8211; Ten countries account for 80% of the new coronavirus testing taking place across Africa, a regional body said on Thursday, indicating that little testing is taking place in many countries around the vast continent.



COVID-19 confirmed cases across Africa have accelerated and are close to hitting a million this week, and experts say low levels of testing in many countries means infection rates are likely to be higher than reported.



Some governments across the continent are too poor or conflict-ridden to carry out widespread testing, while others are reluctant to share data or to expose their crumbling health systems to outside scrutiny.



South Africa, Egypt, Nigeria, Ghana, Morocco, Kenya, Ethiopia, Rwanda, Uganda and Mauritius have each conducted more than 200,000 tests, said John Nkengasong, head of the Africa Centres for Disease Control and Prevention (CDC).



So far nearly 9 million tests have been conducted across the continent, up 9.4% from last week’s tally.



“This number indicates we reached 90% of our goal for the partnership to accelerate COVID testing,” Nkengasong told a virtual news conference.



The regional body said it had supported 14 other countries with an additional 240,000 tests.

10 countries account for 80% of Africa COVID-19 testing – Africa CDC

WASHINGTON (Reuters) &#8211; U.S. employers announced another 262,649 job cuts in July as the COVID-19 pandemic continued to weigh on demand, the latest indication that the labor market recovery is losing steam.



The layoffs reported by global outplacement firm Challenger, Gray &amp; Christmas on Thursday were up 54% from June.



The job cuts, the third-largest monthly total since the coronavirus pandemic began, followed data this week showing a big step-down in private payrolls in July and further contraction in employment at manufacturing and services industries.



Hiring announcements totaled 246,507 in July, almost matching layoffs, Challenger, Gray reported.



“The downturn is far from over, especially as COVID cases rise around the country,” said Andrew Challenger, senior vice president at Challenger, Gray. “Consumers are buying fewer goods and services, businesses are closing, and bankruptcies are rising.”



July’s job cuts brought the total so far this year to 1.848 million, up 212% from the same period in 2019. The year-to-date layoffs are just 109,180 away from the record 1.957 million job cuts announced in 2001.



The weak labor market data raises the risk of a sharper slowdown in job growth in July. The Labor Department will publish its closely watched, and broader, monthly employment report on Friday. According to a Reuters survey of economists, nonfarm payrolls likely increased by 1.6 million in July, down from the record 4.8 million jobs created in June.



According to Challenger, Gray &amp; Christmas, COVID-19 was cited as the reason for 63,517 job cuts in July. The respiratory illness has been blamed for 1.075 million layoffs so far this year. The balance of job cuts in July were attributed to market conditions, a downturn in demand and bankruptcies.



Several retailers including J.C. Penney and Lord &amp; Taylor have filed for bankruptcy since March. Job cuts remained concentrated at bars, restaurants, hotels and amusement parks. The automotive sector cut 83,853 jobs. Hiring announcements totaled 246,507 in July, almost matching layoffs.



“It is clear that many job losses are now permanent, and it will be challenging for many workers to find new jobs and feel safe taking jobs that are public-facing,” said Challenger.

US COVID-19

Job cuts announced by U.S. companies jump 54% in July: report

JOHANNESBURG (Reuters) &#8211; South Africa’s rand weakened early on Thursday, remaining near two-months lows, as investors continued to worry about the chances of a global economic recovery.



At 0700 GMT, the rand was down 0.32% at 17.3850 per dollar, backtracking again after a brief advance in the previous session, as the dollar fell amid a stalling economic recovery in the United States.



A bleak fiscal backdrop locally has largely been overshadowed by hopes global growth will recover, but that enthusiasm has faded this week as U.S. lawmakers disagreed on an extended stimulus program.



The rand has failed to benefit from the dollar’s decline, though, crashing to its lowest level since early June, with investors sitting on the fence.



The rand’s inability to capitalise on dollar weakness may, at least to some degree, be a function of South Africa’s own risks, said market economists at ETM Analytics in a note.



The country has Africa’s highest number of COVID-19 cases at more than 500,000 infections and was already in a three-quarter economic recession before the pandemic struck. It’s likely to see a slower recovery than its emerging-market peers, reducing demand for the rand.



On Wednesday, the HIS Markit Purchasing Managers’ Index



showed factory activity remained in contraction, a mark of the slow pace of the rebound after strict lockdown was lifted in June.



Bonds gained, with the yield on the benchmark 2030 bond down 2 basis points at 9.305%.

money-bill-note-south-africa

South Africa’s rand weaker in tentative trade

LONDON (Reuters) &#8211; Glencore said on Thursday it was scrapping its dividend to focus on lowering debt as the COVID-19 pandemic forced it to book a $3.2 billion impairment charge.



The miner and trader, which had expected to pay $2.6 billion in dividends, the economic outlook was too uncertain due to the coronavirus crisis to make the payout.



“The board has concluded that it would be inappropriate to make a distribution to shareholders in 2020, instead prioritising the acceleration of net debt reduction to within our target range,” Chief Executive Ivan Glasenberg said.



Glencore’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 13% to $4.8 billion in the six months to June compared to a year ago, beating the $4.3 billion expected by 14 analysts compiled by Vuma.



The miner posted a net loss of $2.6 billion in the period versus earnings of $226 million a year ago.



Glencore’s trading or marketing arm saw a record adjusted earnings before interest and taxes (EBIT) of $2 billion in the first-half as it benefitted from extreme volatility in the oil market.

gettyimages-493425692-594×594

Glencore scraps $2.6 billion dividend as first-half earnings fall

Covid-19 has forced businesses globally to re-evaluate their business models and to adapt to new working environments. As whole industries adjust and new ones are born, many occupations will undergo a fundamental transformation. Technological, socio-economic, geopolitical and demographic developments and the interactions between them will generate new categories of jobs and occupations while partly or wholly displacing others. Given the rapid pace of change, business model disruptions are resulting in near-simultaneous impact on employment, demanding new skill sets and it is critical for businesses to stay ahead of these trends and changes.



Through a series of expert panel discussions, CNBC Africa; a leader in business, financial data, news and insight, in partnership with Forbes Africa and prominent sponsors, will be hosting a first-of-its-kind virtual Pan African summit on 20 August 2020.&nbsp;The Future of Work Virtual Conference aims to find solutions to the crisis in Africa’s work and job system, and to drive home the need for a much more effective implementation strategy.&nbsp;The day-long summit is a must for all business owners, C-suite decision makers, tech specialists, and leaders in digital innovation and development to &nbsp;attend.



“This pandemic has also forced us as a media company to find alternative means to broadcast captivating and informative content, while adhering to Government’s health and safety protocols, and to identify digital platforms that would allow us to keep our viewers informed. Using the power of technology and our newsroom, we are able to connect the continent through live in-person and online virtual experiences.” Says Roberta Naicker, Managing Director of the ABN Group. “This virtual conference, consisting of industry leading panellists, will examine how technology will enable digital transformation and change the way we work in the future.” She further added.



What will organisations look like after the pandemic? How will we collaborate and conduct business? What productivity gains can we unlock through robotic process automation, AI and cloud computing. What are the new threats companies need to identify and mitigate against? These are some of the critical questions that will be addressed, with themes like cybersecurity, cloud computing and Artificial Intelligence (AI), forming the main focal points of this half-day virtual conference, set to take place on the 20th of August.



Attendees will be able to register to attend this virtual event, and watch it live for free. Allowing them to take part in the day’s discussions via Q&amp;A sessions, and also get the opportunity to network with other attendees.



For more information on the Future of Work Virtual Conference or to register for the event, please visit&nbsp;<a href="https://click.icptrack.com/icp/relay.php?r=&amp;msgid=0&amp;act=111111&amp;c=1681970&amp;destination=https%3A%2F%2Fwww.cnbcafrica.com%2Ffuture-of-work%2F&amp;cf=6110&amp;v=d3ee25f19e2ebbb1e9b4e0501db0b4f9469428a24a6c8c47b959fdd2f2db63f2" target="_blank" rel="noreferrer noopener">https://www.cnbcafrica.com/future-of-work/</a>, or follow us @cnbcafrica for more updates

1200px-CNBC_Africa.svg

Redefining Africa’s Workforce Through Digital Transformation

BANJUL (Reuters) &#8211; Gambia, mainland Africa’s smallest country, imposed a three-week curfew on Wednesday after coronavirus cases surged over 60% in the last seven days to nearly 800.



Authorities attributed the rise to people relaxing their guard on protective measures that had so far kept Gambia’s case total the lowest in Africa. Testing has also increased in the country, where the number of deaths is 16.



A 10 p.m. to 5 a.m. curfew will go into effect on Thursday, public gatherings will be banned and markets will have to close by 2 p.m., government spokesman Ebrima Sankareh told the national broadcaster.



He had said earlier in the day that authorities would increase police, paramilitary, marine and immigration presence on its border with Senegal as scores of Senegalese who live in Gambia return from celebrating Eid al-Adha with their wider families. Senegal has recorded over 10,500 cases.



The minister for women’s affairs, children and social welfare, Fatou Kinteh, tested positive on Wednesday for COVID-19, becoming the fourth minister to do so this week.



Vice President Isatou Touray also tested positive on July 29, leading President Adama Barrow to enter self-isolation. The government said on Tuesday the president had tested negative.



The Health Ministry said six people who were confirmed cases were still at large, while two other positive cases had fled from a treatment centre in the capital

Clarification on COVID-19 “hotspots” as SA moves to level 3 lockdown

Gambia imposes curfew as coronavirus cases surge 60% in a week

JOHANNESBURG (Reuters) &#8211; Three South African provinces considered coronavirus hotspots have seen new infections slow in recent weeks, though it is too early to say whether the country’s peak has passed, the health minister said on Wednesday.



South Africa has the world’s fifth highest number of infections, with cases passing 500,000 over the weekend, despite a strict lockdown since late March.



On Wednesday the World Health Organisation (WHO) said it was sending a “surge team” of 43 experts to the country to help the Health Ministry with “surveillance and streamlining of epidemiological systems and WHO global COVID-19 response guidelines”.



Financial hub Gauteng, tourist centre Western Cape and the Eastern Cape have seen steep rises for months, with total cases at roughly 183,000, 97,000 and 80,000 respectively.



“The number of new infections is increasing at a lower rate than what had been happening in the whole of June and up to the middle of July. That clearly indicates to us that there is a declining trend,” Health Minister Zweli Mkhize told a news conference, referring to Gauteng.



Mkhize noted a presentation showing the average number of new cases in the country’s nine provinces and said that in Gauteng, Western Cape and Eastern Cape, surges in infections might have peaked.



Despite signs of progress, Mkhize warned that two other provinces, KwaZulu-Natal and Free State, had seen high rates, and that a failure to follow containment measures such as wearing masks could see infections rebound.



“We may well be over this peak sometime towards the end of August. But if we don’t insist on distancing and use of masks we actually can have a second surge,” he said.



An earlier easing in lockdown rules from June coincided with a surge, with more than 13,000 new cases on some days.



The minister said while bed capacity in hospitals and field hospitals had not been breached, the system was showing signs of strain. “We are not out of the woods yet, because those who are managing the admissions and treatment and hospitalisation of patients can still feel that the wards are full.”

Zweli Mkhize on SA’s plan to deal with the coronavirus outbreak

COVID-19 cases slow in South African hotspot provinces, minister says

JOHANNESBURG (Reuters) &#8211; Three South African provinces considered coronavirus hotspots have seen new infections slow in recent weeks, though it is too early to say whether the country’s peak has passed, the health minister said on Wednesday.



South Africa has the world’s fifth highest number of infections, with cases passing 500,000 over the weekend, despite a strict lockdown since late March.



Financial hub Gauteng, tourist centre Western Cape and the Eastern Cape have seen steep rises for months, with total cases at roughly 183,000, 97,000 and 80,000 respectively.



“The number of new infections is increasing at a lower rate than what had been happening in the whole of June and up to the middle of July. That clearly indicates to us that there is a declining trend,” Health Minister Zweli Mkhize told a news conference, referring to Gauteng.



Mkhize noted a presentation showing the average number of new cases in the country’s nine provinces and said that in Gauteng, Western Cape and Eastern Cape, surges in infections might have peaked.



Despite signs of progress, Mkhize warned that two other provinces, KwaZulu-Natal and Free State, had seen high rates, and that a failure to follow containment measures like wearing masks could see infections rebound.



“We may well be over this peak sometime towards the end of August. But if we don’t insist on distancing and use of masks we actually can have a second surge,” he said.



An earlier easing in lockdown rules from June coincided with a surge, with more than 13,000 new cases on some days.



The minister said while bed capacity in hospitals and field hospitals had not been breached, the system was showing signs of strain. “We are not out of the woods yet, because those who are managing the admissions and treatment and hospitalisation of patients can still feel that the wards are full.”

JOHANNESBURG (Reuters) &#8211; South African miner Gold Fields said on Wednesday booming gold prices could drive up half-year profits by more than 300%, triggering a 10% rally in its shares.



Gold Fields has already said the COVID-19 pandemic would have a limited negative impact on its performance, even though miners have had to shut operations during lockdowns and infections among employees.



Now, it says it is set to reap hefty gains as an ultra-low interest rate environment and expectations of more economic stimulus packages to offset the economic impact of the pandemic have driven gold, its main product, to record highs.



It said its headline earnings per share &#8211; the main profit measure in South Africa &#8211; for the six months to June 30, were likely to be between 290% and 310% higher than the $0.05 per share reported last year.



“The increase in earnings for the period is driven largely by the increase in the gold price received,” it said in a trading statement, adding that attributable gold equivalent production rose only marginally.



Gold Fields kept its production guidance for the full-year at the same level, but said its costs could be higher than previously flagged after these rose during the first half.

South Africa’s Gold Fields sees 300% profit rise on gold rally

NAIROBI (Reuters) &#8211; Activity in Kenya’s private sector rose at its fastest pace in a year last month on the back of a gradual easing of coronavirus lockdown measures, a survey showed on Wednesday.



The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) jumped to 54.2 in July, from 46.6 in the previous month, well above the 50.0 mark that separates growth from contraction. July’s level was the highest since June last year.



“The removal of county travel restrictions supported output and business sentiment in July,” said Jibran Qureishi, head of Africa Research at Stanbic Bank, referring to the opening up of the capital Nairobi and the port city of Mombasa.



He said the outlook was uncertain, however.



Firms continued to shed jobs in July, the survey found, but a slower pace than in the previous months.



The government cut its GDP growth forecast for this year to about 2.5% due to the pandemic, from an initial 6%.

Stanbic_Bank_Bill_Board

Kenya private sector expands at strongest level in a year – PMI

JOHANNESBURG (Reuters) &#8211; South Africa’s economic downturn extended into last month, though businesses still reeling from the impact of the COVID-19 pandemic reported slightly less steep in output and new orders, a survey showed on Wednesday.



The pace of job losses also slowed, but July still saw the third-fastest reduction in employment on record.



The IHS Markit Purchasing Managers’ Index (PMI) rose to 44.9 from 42.5 in June, its second increase in a row but still far below the 50 mark that separates expansion from contraction.



Africa’s most industrialised economy imposed a hard lockdown in late March to contain the spread of the coronavirus. It has gradually eased curbs on most economic activity since.



The July reading was the 15th in succession below 50, showing the downturn began well before the pandemic.



David Owen, economist at IHS Markit, said: “Businesses that remained closed or under working-from-home policies continued to report a weak level of sales, with exports also falling steeply.”



This led to a further cut-back to output, and further job losses.



“However, some firms are beginning to operate closer to normal capacity and are seeing an increase in demand. As lockdown restrictions are loosened, we expect more firms to move towards a recovery,” he said.



South Africa has recorded more than a half a million cases of COVID-19, the most in Africa, with the number of infections continuing to rise rapidly in recent weeks.



Government forecasts are for gross domestic product to shrink by at least 7% this year.

Coronavirus

Uganda central bank holds lending rates after two cuts

Lost your job due to coronavirus? AI could be your best friend in finding a new one

Botswana diamond exports fall by two thirds on COVID-19

Record bullion prices give South African gold miners a lifeline, risks remain

South Africa’s funeral parlours turn to makeshift mortuaries as virus deaths rise

South Africa’s Ramaphosa sets up body to probe COVID-19 corruption

10 countries account for 80% of Africa COVID-19 testing – Africa CDC

Job cuts announced by U.S. companies jump 54% in July: report

South Africa’s rand weaker in tentative trade

Glencore scraps $2.6 billion dividend as first-half earnings fall

Redefining Africa’s Workforce Through Digital Transformation

Gambia imposes curfew as coronavirus cases surge 60% in a week

COVID-19 cases slow in South African hotspot provinces, minister says

COVID-19 cases slow in South African hotspot provinces, minister says

South Africa’s Gold Fields sees 300% profit rise on gold rally

Kenya private sector expands at strongest level in a year – PMI

South Africa’s sharp economic downturn extends into July – PMI

News Tips

Advertise With Us

Coronavirus

Uganda central bank holds lending rates after two cuts

Lost your job due to coronavirus? AI could be your best friend in finding a new one

Botswana diamond exports fall by two thirds on COVID-19

Record bullion prices give South African gold miners a lifeline, risks remain

South Africa’s funeral parlours turn to makeshift mortuaries as virus deaths rise

South Africa’s Ramaphosa sets up body to probe COVID-19 corruption

10 countries account for 80% of Africa COVID-19 testing – Africa CDC

Job cuts announced by U.S. companies jump 54% in July: report

South Africa’s rand weaker in tentative trade

Glencore scraps $2.6 billion dividend as first-half earnings fall

Redefining Africa’s Workforce Through Digital Transformation

Gambia imposes curfew as coronavirus cases surge 60% in a week

COVID-19 cases slow in South African hotspot provinces, minister says

COVID-19 cases slow in South African hotspot provinces, minister says

South Africa’s Gold Fields sees 300% profit rise on gold rally

Kenya private sector expands at strongest level in a year – PMI

South Africa’s sharp economic downturn extends into July – PMI

News Tips

Advertise With Us

Newsletters