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Rupert family fund oversubscribed; applications temporarily suspended

Applications for the Rupert family’s R1 billion small business fund, The Sukuma Relief Programme, which opened on Friday, have temporarily been suspended.

EOH Exco chop salaries by 25%; ask staff to cut by 20%

Technology group EOH narrowed its first half loss per share from continuing operations, while group revenue fell 14 per cent and costs rose. EOH CFO, Megan Pydigadu joins CNBC Africa for more.

SA launches green fund to drive investment into SMMEs

R488 million – that’s how much the Green Outcomes Fund has set aside for fund managers to increase investment in green Small, Medium and Micro-sized Enterprises. To discuss the fund - the first of its kind, CNBC Africa is joined by Tine Fisker Henriksen: Innovative Finance Lead, UCT GSB Bertha Centre and Mark van Wyk: Head of Unlisted Investments, Mergence Investment Managers.

Sarb guides banks to put dividends, bonuses on hold

South Africa’s Reserve Bank has guided banks to put dividends and executive bonuses on hold to help reduce stress on the banking sector from fighting Covid19. For more on this recommendation as well as other directives to ensure the health of the sector, CNBC Africa is joined by Unathi Kamlana, Head of Policy Statistics and Industry Support at the Prudential Authority.

Nigeria to tap into its sovereign wealth fund to fight COVID-19 crisis

Nigeria plans to withdraw $150 million from its sovereign wealth fund as part of its fiscal stimulus measures in response to the COVID-19 outbreak. Michael Ango, the Associate Director; Tax Advisory and Regulatory Services at Andersen Tax joins CNBC Africa to assess Nigeria's response to the pandemic.

South African COVID-19 Tourism Relief Fund open for applications

In a bid to mitigate the impact of COVID-19 on South Africa’s tourism sector, the Department of Tourism is urging eligible small, micro and medium-sized enterprises (SMMEs) to apply for a share of the R200 million Tourism Relief Fund.

Prudential Authority offers relief measures, guidance to South African banks amid COVID-19 crisis

As households and businesses in South Africa struggle to cope with the current economic turmoil and uncertainty brought upon by the COVID-19 pandemic, the Prudential Authority (PA) has welcomed the measures taken by banks to support their customers financially.

South African banking index falls over 4% after SARB advises against dividends

South Africa’s banking index opened 4.3% lower on Tuesday, a day after the country’s central bank said it had advised lenders not to pay dividends or bonuses amid the coronavirus outbreak.

COVID-19: These are the relief measures SA’s government is offering farmers

South Africa is a net exporter of food but with lockdown and COVID-19 some farmers are finding it difficult to cope financially.

The harsh realities of being an entrepreneur. He first had to deal with the dot-com crash, now his coffee business is being hit by...

Entrepreneur Jonathan Robinson saw his dotcom dream disappear overnight, he awoke from the nightmare to smell the coffee only to suffer COVID-19.

SA’s COVID-19 lockdown: 14000 companies apply for UIF assistance

South Africa’s 21 Day lockdown has forced many companies to shut during the period. As a consequence, many people have had to take unpaid leave while some may not have a job waiting for them when the lockdown lifts because of the fragile state of the economy. Teboho Maruping, Commissioner of the Unemployment Insurance Fund spoke to CNBC Africa on how government is helping?

Rupert fund overwhelmed by duplicate applications

Applications for the Rupert family’s R1 billion small business fund, now known as The Sukuma Relief Programme opened on Friday. To find out what the response has been CNBC Africa is joined by Mark Paper, Chief Operating Officer at Business Partners International.

Fitch on adapting ratings methodology for COVID-19

On Friday ratings agency Fitch downgraded South Africa further into junk status saying government didn’t have a clear plan to stabilise rising debt levels. However, institutions like the IMF say African countries should be allowed to increase debt to GDP ratio’s to contain the economic fallout from Covid19. Should ratings agencies therefore revise their methodology to adapt to Covid19 times? Jan Friederich, Head of Middle East and Africa Sovereign ratings at Fitch joins CNBC Africa for more.

How COVID-19 is impacting genocide commemoration events in Rwanda

As Rwanda prepares for the Genocide Commemoration week while being in lock down, CNBC Africa is joined by Christian Ntwari, Managing Director of Our Past, to tell us more on this year's plan for the event and how coronavirus pandemic is going to affect the event.

How the Bank of Kigali is tackling the COVID-19 crisis

Rwanda's leading bank, the Bank of Kigali has announced their contribution to the country's relief efforts in a statement outlining concessions they're making for vulnerable clients, and the fund of over $296,000 that the institution will be handing over to the Government to oversee distribution of cash and supplied to families affected by the Covid-19 crisis. Bank of Kigali CEO, Diane Karusisi joins CNBC Africa for more.

South Sudan confirms first case of COVID-19

South Sudan is the latest African country to confirm its first case of COVID-19. The virus is having profound and serious impact on the global economy and has sent policymakers looking for ways to respond. Parek Maduot, Director of Economic Development &Regional Integration, at the International Conference on the Great Lakes Region joins CNBC Africa for more.

African Development Bank President denies allegations of ill-governance

Replying to an article recently published in the French newspaper, “Le Mond”, President of the African Development Bank, Akinwumi Adesina, has denied allegations questioning the transparency and governance systems of the bank.

Nigeria outlines COVID-19 fiscal response

Nigeria’s Finance Minister, Ahmed Zainab has announced some fiscal measures aimed at cushioning the impact of the coronavirus pandemic on the economy. Emmanuel Odiaka, Managing Director and CEO of ECOB Capital joins CNBC Africa to assess these measures and review Nigeria’s fixed income and forex market.

Nigeria PMI slips 47.9 in March with COVID-19 & falling oil prices as negative drivers

FBNQuest says Nigeria’s March PMI slipped to 47.9 index point in March adding that the negative drivers are the spread of the coronavirus internationally and the crash in oil prices. Chinwe Egwim, an Economist at FBNQuest joins CNBC Africa for more....

FNB extends aid for battling SMEs in South Africa amid COVID-19, lockdown

Amid the global COVID-19 pandemic and 21-day lockdown faced by South Africans, First National Bank has announced additional measures to assist small and medium-sized enterprises battling with funding in the country.

Op-Ed: Africa needs to work together, with all sectors of society to deal with COVID-19

Unprecedented times such as these call for rapid decision-making, coupled with innovative and effective solutions that can address continually evolving challenges.

Op-Ed: Why the COVID-19 pandemic is no time for fiscal distancing

"Extraordinary times call for extraordinary measures. As such, it can no longer be business as usual".- Akinwumi Adesina, President of the African Development Bank

Rand hits record low, goes over 19 to dollar as Fitch downgrades SA further into junk status

Last Friday Moody’s, the last rating agency to rate South Africa investment grade, cut South Africa’s sovereign credit rating to junk in line with economists’ forecast. Today Fitch further downgraded the country sending the rand plunging over 19 rand to the dollar. Below it gives its reasons...

Applications open for Rupert family’s R1bn fund, here’s how to apply

As small businesses around South Africa feel the weight of the country’s 21 day lockdown and the COVID-19 pandemic, BUSINESS/PARTNERS has revealed...

How to protect your mental health amid the coronovirus pandemic

The coronovirus pandemic is causing high levels of anxiety all over the world. For some, coping with lockdowns hasn’t been easy and there are concerns social distancing and isolation could negatively impact mental health. Dr Linda Blokland, Acting Head of Department at the Student Counselling Unit at the University of Pretoria joins CNBC Africa for more.

Altron eyes London listing for Bytes UK

Altron plans to separate its UK assets from its African operations via a London listing. The technology group says the listing, still at planning stage will unlock value for its shareholders. Mteto Nyati, CEO Altron joins CNBC Africa for more.

Siemens donates R500, 000 towards fight against COVID-19 in South Africa

In a bid to help alleviate the impact of COVID-19 in South Africa, the Southern and Eastern African division of the multinational conglomerate, Siemens, has donated R500, 000 to the Solidarity Response Fund.

How Volkswagen is responding to COVID-19 in Africa

Globally car markets are using existing manufacturing facilities to make ventilators to fight COVID19. South Africa’s government believes car makers here can do the same.

How Africa can avert a COVID-19 triggered food crisis

The COVID-19 outbreak has disrupted supply chain and trade and thereby restricting access to food. Now experts have warned that there is a risk of food crisis if measures to protect the vulnerable and keep food supply chains live are not taken. Agricultural Economist and Food Systems expert Dr. Kirimi Sindi joins CNBC Africa for more.

Op-Ed: Africa locks down: No time for test runs

“Italy has given the rest of the world a tragic glimpse of what a lockdown needs to look, especially for countries that blink and fail to take action fast,” writes former Director of Communication and External Relations at the African Development Bank Group, Dr. Victor Oladokun.

Latest

Rupert family fund oversubscribed; applications temporarily suspended

Applications for the Rupert family’s R1 billion small business fund, The Sukuma Relief Programme, which opened on Friday, have temporarily been suspended.

EOH Exco chop salaries by 25%; ask staff to cut by 20%

Technology group EOH narrowed its first half loss per share from continuing operations, while group revenue fell 14 per cent and costs rose. EOH CFO, Megan Pydigadu joins CNBC Africa for more.

SA launches green fund to drive investment into SMMEs

R488 million – that’s how much the Green Outcomes Fund has set aside for fund managers to increase investment in green Small, Medium and Micro-sized Enterprises. To discuss the fund - the first of its kind, CNBC Africa is joined by Tine Fisker Henriksen: Innovative Finance Lead, UCT GSB Bertha Centre and Mark van Wyk: Head of Unlisted Investments, Mergence Investment Managers.

Sarb guides banks to put dividends, bonuses on hold

South Africa’s Reserve Bank has guided banks to put dividends and executive bonuses on hold to help reduce stress on the banking sector from fighting Covid19. For more on this recommendation as well as other directives to ensure the health of the sector, CNBC Africa is joined by Unathi Kamlana, Head of Policy Statistics and Industry Support at the Prudential Authority.

Nigerian banking index gains but industrial goods sector declines

Investors are taking a keen interest in banking stocks today but the Industrial goods sector is facing a steep decline. Dare Fajimolu, Chief Research Officer at Blue Vertex joins CNBC Africa for a recap of today’s trade.