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<p>Movement restrictions and other efforts to curb the spread of coronavirus have led to unprecedented disruptions to supply chains. And according to the World Bank, additional border-crossing requirements have led to higher transport costs, affecting agriculture and food commodities. Joshua Rugema, CEO of East Africa Exchange joins CNBC Africa for more.</p>


Here’s how COVID-19 is impacting EA’s commodity markets

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<p>Burundi launched a three-month nationwide coronavirus screening campaign in Bujumbura, so far over one thousand people have been tested since the launch and 41 people tested positive as of last week. Political &#038; Economic Analyst, Jean Claude Nkundwa joins CNBC Africa for more.</p>


Burundi embarks on a mass COVID-19 testing drive

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<p>The Joint Ministerial Monitoring Committee of oil producer club, OPEC will meet later today after which it will announce its recommendation for production policy along with the group’s allies. Joining CNBC Africa to weigh the committee’s options is Kola Karim, Chairman of Shoreline Group.</p>


COVID-19: What to expect from the OPEC+ meeting

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<p>Professor Salim Abdool Karim is in the front line of Africa&#8217;s fight against COVID-19. He is the Chair of the Covid-19 Ministerial Advisory Committee for South Africa. What is his take on the threat from the pandemic? CNBC Africa sits down with the man himself&#8230;.</p>


In conversation with Professor Salim Abdool Karim on SA’s COVID-19 outlook


<p>JOHANNESBURG (Reuters) &#8211; Like many of her compatriots, Kubashnee Moodley made her first foray into online shopping during South Africa’s coronavirus lockdown. She is not a satisfied customer.<br><br>The 42-year-old business management coach was once charged for a parcel she never received and also had groceries delivered to her Johannesburg home after dark. “I was not going to risk going to the gate &#8230; especially with crime so high,” she said.<br><br>Moodley’s experience encapsulates the challenging situation facing the e-commerce sector in Africa’s most advanced economy.<br><br>Having long lagged behind much of the world in terms of e-commerce, South African retailers and delivery start-ups have been doing a roaring trade online as consumers shy away from shops during the COVID-19 pandemic, with the likes of Pick n Pay, Checkers and OneDayOnly experiencing an explosion in demand.<br><br>But this post-COVID boom is straining the capacity of even the largest retailers, leaving some customers complaining of long wait times and poor service.<br><br>The ability to alleviate those growing pains will dictate which companies emerge as e-commerce leaders and which will be left behind.<br><br>Factors such as fear of parcel theft, online fraud and high mobile data costs have long hindered South African e-commerce growth, experts say.<br><br>Global e-commerce leviathan Amazon does not operate in the economy of 58 million consumers, partly because of the cost and challenges of setting up the required infrastructure, analysts say. And African giant Jumia only launched in South Africa this year.<br><br>Amazon, the vast majority of whose customers have to rely on cross-border shopping at its 16 websites around the world, declined to comment.<br><br>ONLINE LAGGARD<br><br>E-commerce accounted for only 1.6%, or $1.2 billion, of South African retail sales in 2019, according to London-based market research firm Euromonitor International. In the United States, the figure is 14.8%. Even Kenya shops more online than its larger neighbour.<br><br>However, Euromonitor expects sales to double this year while Nielsen South Africa’s retail lead analyst Gareth Paterson predicts up to 200% growth in online food purchases.<br><br>A survey conducted by Visa found that 64% of consumers in South Africa bought groceries online for the first time because of the coronavirus outbreak and that 53% made their first online purchase from a pharmacy.<br><br>When lockdown restrictions imposed in late March were loosened in May, market researcher Urban Studies found that only 50-70% of customers returned to shopping centres.<br><br>“This was the quantum shift,” said Anthony Thunstrom, chief executive of clothing and homeware retailer TFG. “We probably advanced two to three years in terms of online demand because of COVID-19.”<br><br>Nikki Lincoln, a 34-year-old communications specialist, thought shopping online would spare her the “unnecessary risk” of going out during the pandemic.<br><br>“Woolworths has closed off online deliveries for my area, so I can’t shop there at all. And Pick n Pay has such a long waiting time you might as well just go to the shop,” she said, naming two of South Africa’s leading supermarket chains.<br><br>CAPACITY BOOST<br><br>Woolworths said that home delivery suspensions were temporary, resulting from an employee testing positive for the virus, but acknowledged that increased demand had caused delays.<br><br>In April it launched a drive-through click-and-collect service, boosting its online capacity by 50%.<br><br>When the lockdown began, Pick n Pay partnered with Bottles, an alcohol delivery app that expanded into groceries with the promise of same-day service.<br><br>“Our enhancements last year to create a stronger online operation &#8230; enabled us to expand our offer in response to the demand for online shopping. Our team rapidly increased its capacity and reach and met the needs of many new customers,” Jessica Knight, head of online at Pick n Pay, said without commenting specifically on delays.<br><br>Sixty60 &#8211; a grocery delivery app run by Shoprite’s Checkers supermarkets &#8211; backed away from hourly dispatching, opting instead for same-day delivery. It is now expanding its delivery area weekly.<br><br>Companies hoping to compete, therefore, are quickly pumping money into their e-commerce offerings even as they feel the pain of a pandemic-induced economic downturn.<br><br>Grocery delivery business Zulzi was forced to limit trading to two hours a day for two weeks after shoppers overwhelmed its app, but it has since quadrupled the number of shoppers and drivers it employs and doubled its customer care staff.<br><br>It is now processing 2,000 orders a day &#8211; five times 2019 levels &#8211; and has done a year’s worth of turnover in the past two months.<br><br>TFG, the brands of which include @home, Foschini and Markham, plans to raise 3.95 billion rand ($234.2 million) this month, partly to bolster its e-commerce business.<br><br>($1 = 16.8698 rand)</p>


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South African e-commerce is a COVID-fired market of risk and reward

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<p>The United Nations says more than one in six young people are out of work due to the COVID-19 pandemic. Olusola Adewole, Partner and Head of People and Organisation Advisory at PwC Nigeria joins CNBC Africa to explore how the COVID-19 pandemic impacts the future of work as the world marks the World Youth Skills Day.</p>


COVID-19: How the pandemic is redefining the future of work


<p>(Reuters) &#8211; S&amp;P Global Ratings on Tuesday revised Kenya’s outlook to ‘negative’ from ‘stable’, citing that the coronavirus pandemic will slow the country’s GDP growth significantly in 2020 and weigh on its already weak public finances.<br><br>&#8220;Although external financial support, including from the International Monetary Fund (IMF), will help fund Kenya&#8217;s twin fiscal and external deficits in 2020, external debt will rise sharply in 2020 and remain high in 2020-2023,&#8221; the ratings agency said in a statement here<br><br>S&amp;P affirmed Kenya’s ratings at ‘B+/B’.<br></p>


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S&P downgrades Kenya’s outlook to ‘negative’ on coronavirus pressures

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<p>The Africa Centre for Disease Control and Prevention has launched a Consortium for Covid-19 Vaccine Clinical Trail, as part of the outcomes of a recent virtual conference. This is coming as the World Health Organisation has warned that the Coronavirus pandemic will worsen if countries fail to adhere to strict healthcare precautions. DR. John Nkengasong, Director, Africa CDC joins CNBC Africa for more.</p>


Africa CDC launches consortium for COVID-19 vaccine clinical trial


<p>JOHANNESBURG (Reuters) &#8211; South Africa’s rand firmed in early trade on Wednesday ahead of consumer inflation data and as hopes of economic recovery increased global risk appetite.<br><br>At 0645 GMT the rand was up 0.31% at 16.6800 per dollar against an overnight close of 16.7325, tracking a rising euro, which led the way as the greenback continued to wobble.<br><br>The euro, a barometer for global risk demand, rose to a four-month high against the dollar on expectations European Union leaders may agree on stimulus and deepening fiscal integration to shield the economy from the COVID-19 pandemic.<br><br>Most emerging currencies followed suit as renewed hopes of a faster global economic recovery drove demand for riskier, but high-yielding currencies, such as the rand, which has managed to brush-off signs of a weak local economy.<br><br>Consumer inflation data for South Africa due at 0800 GMT is set to show price-growth at even lower levels than last month’s 15-year low, boosting the chances of another lending rate cut when the local central bank meets later in July.<br><br>Hopes of progress in finding a vaccine to counter the pandemic added to the positive mood.<br><br>Moderna Inc’s experimental vaccine showed it was safe and provoked immune responses to the novel coronavirus in all 45 healthy volunteers in an ongoing early-stage study, U.S. researchers <br><br></p>


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S. Africa’s rand firms as growth, vaccine hopes drive mood for risk

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<p>The BankservAfrica Economic Transaction Index for June 2020 has reported that there is a sign of a slight economic recovery ahead, with more transactions taking place in June at 101.7 points compared to the weakest point of 98.1 in May. Mike Schüssler, Chief Economist at Economists.co.za joins CNBC Africa for more.</p>


SA economy shows green shoots of recovery as lock-downs ease

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<p>South Africa’s government has reinstated an alcohol ban in the country which saw alcoholic drinks maker Distell’s share price dropped by more than 6 per cent in Monday trading but has gained by 3 per cent in trade this morning. Joining CNBC Africa for more is Richard Rushton, CEO of Distell.</p>


Distell CEO on the business impact of the reimposed alcohol ban

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<p>The Kigali International Airport is set to open on the first of August; this is great news for many entrepreneurs who depend on commercial flights for their businesses to thrive. CNBC Africa spoke to Gloria Uwizera Kamanzi, Founder and CEO of Glo Creations for how this new development fits into her recovery strategy.</p>


Rwandan entrepreneurs welcome resumption commercial flight operations on August 1

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<p>The number of confirmed Covid-19 cases worldwide reached 12.6 million on the 12th of July and South Africa has seen record numbers daily since the move to Level 3. What is the Gauteng Provincial Government doing to help combat the spread of this virus? Tune for this special to find out&#8230;.</p>


Gauteng government sets out aggressive plan to combat coronavirus

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<p>It’s been announced by the Ministry of Sports that starting this week certain sporting activities including Cricket, Martial Arts, Badminton and Gymnastics, are allowed to resume. These are added to the list of sports that have already been approved like Golf and cycling. So as sports fans the world over anxiously await the resumption of the NBA season at the end of this month and local sports begin to rebound, could this spark the comeback of a sports sector that was only beginning to take flight before COVID-19? Journalist, Ivan Mugisha joins CNBC Africa for more.</p>


Rwanda gives green light for provisional sports to resume

Rwanda gives green light for provisional sports to resume, here’s how the sector plans to bounce back from COVID-19


<p>GABORONE (Reuters) &#8211; Botswana expects its economy to shrink by 8.9% in 2020, less severe than its previous forecast for a 13.3% contraction, boosted by better than expected mining output and a shorter lockdown, the central bank said on Tuesday.</p>



<p>“The ministry of finance now sees a lower economic contraction in 2020. The first number was based on an assumption of a longer lockdown and larger contraction in mining activities,” said Tshokologo Kganetsano, director of research and financial stability at the central bank.</p>


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Botswana expects smaller economic contraction in 2020


<p>ABUJA (Reuters) &#8211; The Nigerian National Petroleum Corporation (NNPC) has fired 850 workers, many of them from refineries, amidst the coronavirus pandemic, an oil union said on Tuesday.</p>



<p>The workers are both skilled and unskilled contractors, including technicians who helped maintain Nigeria’s oil refineries, said Lumumba Okugbawa, general secretary of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), speaking on the phone.</p>



<p>The NNPC did not immediately respond to requests for comment.</p>



<p>Layoffs in Nigeria’s oil sector are a tense issue, with frequent stand-offs between the NNPC and unions. Nigeria is dependent on crude sales to prop up its struggling economy, now at risk of its worst recession in four decades due to the coronavirus and the pandemic tanking global oil prices.</p>



<p>Yet Nigeria’s refineries are barely operational. Almost all of the country’s fuel supply is processed overseas at great cost, despite Nigeria being Africa’s largest crude producer.</p>



<p>In May, the NNPC said it had more than 6,600 staff.</p>


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Nigeria’s NNPC fired 850 workers, many from refineries, oil union says


<p>JOHANNESBURG (Reuters) &#8211; South Africa’s Sun International will tap shareholders for funds at 9.44 rand a share in a 1.2 billion rand ($71.48 million) rights issue, the hotel and casino owner said on Tuesday.</p>



<p>The owner of Sun City resort will use the rights issue funds to improve its short to medium-term liquidity and strengthen its balance sheet as the coronavirus restrictions hit its operations.</p>



<p>The company will offer 127 million shares at 9.44 rand each, representing a 25% discount, it said in a statement.</p>



<p>($1 = 16.7877 rand)</p>


Coronavirus

Here’s how COVID-19 is impacting EA’s commodity markets

Burundi embarks on a mass COVID-19 testing drive

COVID-19: What to expect from the OPEC+ meeting

In conversation with Professor Salim Abdool Karim on SA’s COVID-19 outlook

South African e-commerce is a COVID-fired market of risk and reward

COVID-19: How the pandemic is redefining the future of work

S&P downgrades Kenya’s outlook to ‘negative’ on coronavirus pressures

Africa CDC launches consortium for COVID-19 vaccine clinical trial

S. Africa’s rand firms as growth, vaccine hopes drive mood for risk

SA economy shows green shoots of recovery as lock-downs ease

Distell CEO on the business impact of the reimposed alcohol ban

Rwandan entrepreneurs welcome resumption commercial flight operations on August 1

Gauteng government sets out aggressive plan to combat coronavirus

Rwanda gives green light for provisional sports to resume, here’s how the sector plans to bounce back from COVID-19

Botswana expects smaller economic contraction in 2020

Nigeria’s NNPC fired 850 workers, many from refineries, oil union says

South Africa’s Sun International to issue 127 mln shares in rights offer

News Tips

Advertise With Us

Coronavirus

Here’s how COVID-19 is impacting EA’s commodity markets

Burundi embarks on a mass COVID-19 testing drive

COVID-19: What to expect from the OPEC+ meeting

In conversation with Professor Salim Abdool Karim on SA’s COVID-19 outlook

South African e-commerce is a COVID-fired market of risk and reward

COVID-19: How the pandemic is redefining the future of work

S&P downgrades Kenya’s outlook to ‘negative’ on coronavirus pressures

Africa CDC launches consortium for COVID-19 vaccine clinical trial

S. Africa’s rand firms as growth, vaccine hopes drive mood for risk

SA economy shows green shoots of recovery as lock-downs ease

Distell CEO on the business impact of the reimposed alcohol ban

Rwandan entrepreneurs welcome resumption commercial flight operations on August 1

Gauteng government sets out aggressive plan to combat coronavirus

Rwanda gives green light for provisional sports to resume, here’s how the sector plans to bounce back from COVID-19

Botswana expects smaller economic contraction in 2020

Nigeria’s NNPC fired 850 workers, many from refineries, oil union says

South Africa’s Sun International to issue 127 mln shares in rights offer

News Tips

Advertise With Us

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