Zimbabwean govt. continues crackdown on activists amid reports of torture
Silence descended on the streets of Bulawayo and central Harare in Zimbabwe on Friday, where businesses shut down. This is as Security Forces were deployed to prevent anti-government and anti-corruption protests, by opposition parties. A number of high-profile figures were arrested over the weekend. Dumisani Muleya, Chairperson of the Zimbabwe National Editors Forum joins CNBC Africa for more.
Nigerian investors not surprised by Shoprite’s exit, here’s why
Releasing its trading update for the year ended 28 June 2020, Shoprite announced that it will be exiting from Nigeria.
RH Bophelo sees more upside in Africa’s healthcare market
The spotlight is on the healthcare system, as many countries grapple with the COVID-19 pandemic. Joining CNBC Africa to talk about the role of healthcare investment is Quinton Zunga, CEO, RH Bophelo.
Here’s how renewable energy could help African economies recover post-COVID-19
Like the rest of the world, Africa was severely affected by the spread of COVID-19 with an estimated 5 to 29 million people being reduced back to live below the poverty line. CNBC Africa spoke to Dan Klinck, CEO of East African Power to discuss how renewable energy could help African Governments in the efforts to build back better post-COVID-19.
South Africa
511,485
Total confirmed cases
Updated on August 3, 2020 7:03 pm
Nigeria
43,841
Total confirmed cases
Updated on August 3, 2020 7:03 pm
Ghana
37,812
Total confirmed cases
Updated on August 3, 2020 7:03 pm
Kenya
22,597
Total confirmed cases
Updated on August 3, 2020 7:03 pm
Total confirmed cases
Total confirmed cases by select countries. Data provided by a third-party and refreshes at the end of each day.
Mauritius
344
Total confirmed cases
Updated on August 3, 2020 7:03 pm
Uganda
1,195
Total confirmed cases
Updated on August 3, 2020 7:03 pm
Rwanda
2,062
Total confirmed cases
Updated on August 3, 2020 7:03 pm
Egypt
94,483
Total confirmed cases
Updated on August 3, 2020 7:03 pm
CIMERWA listing on the RSE with CEO, Albert Sigei
Rwanda’s leading cement manufacturer CIMERWA PLC has this morning listed on the Rwanda stock exchange, CNBC Africa caught up with the CEO, Albert Sigei on the investment opportunity.
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Coronavirus
South Africa’s COVID-19 cases surpass half a million
Reuters -
Just over 3 million people have so far been tested for the virus in South Africa, which confirmed its first case five months ago, and 8,153 deaths have been recorded. Africa has recorded 934,558 cases, 19,752 deaths and 585,567 recoveries, according to a Reuters tally.
Coronavirus
Australia’s Victoria declares disaster, sets curfew to curb COVID-19
Reuters -
On Sunday, Victoria reported 671 infections, one of its highest, and seven COVID-19 deaths. High numbers of community transmissions and cases of unknown origins have forced the new restrictions, which will be in place for six weeks, officials said.
East Africa
Kenya Airways resumes international flights after virus curbs lifted
Reuters -
The airline was struggling long before the coronavirus outbreak, posting 2019 losses of almost 13 billion shillings ($120 million).
Coronavirus
How inequality and poverty undermined South Africa’s COVID response
Reuters -
Four months later, South Africa faces a runaway epidemic that has overwhelmed public hospitals in a country where roughly half the population lives below the poverty line, according to the latest government figures from 2015.
ZSE resumes trading after a month long shutdown
The Zimbabwean Stock Exchange will resume trading today after a month long shut down as the government ordered an investigation against illegal foreign dealings by some companies.
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COVID-19: EAC countries resume commercial flights
East Africa Community member states, Rwanda and Kenya on the 1st of this month opened up their airspaces to commercial flights after more than four months of lock-downs. So what kind of impact will this have on the struggling aviation sector? Derek Nseko, Aviation Industry Expert and Managing Director iFly Aviation spoke to CNBC Africa for more.
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Here’s how the COVID-19 lock-downs have impacted Africa’s movie industry
So usually on Mondays, we could look back at the box office hits from the weekend, not as much anymore as the big screens and cinemas in particular have been heavily hit by the pandemic but in this, could we see some form of opportunity.
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CIMERWA lists on the Rwanda Stock Exchange
A breaking news story, a few minutes back at the opening bell of the Rwanda Stock Exchange, the country’s leading cement manufacturer CIMERWA PLC listed a free float of more than 344,000 shares for trading to interested investors, joining CNBC Africa for more is the Board Chairman of CIMERWA PPC, Regis Rugemanshuro.
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DBSA on how investment in infrastructure can help African economies recover from COVID-19
The Development Bank of Southern Africa is playing its part in the development of the continent, with the bank announcing a number of financing initiatives, as COVID-19 continues to ravage economies. In the latest project, DBSA has disbursed R4.5 billion in loans to South African metros. Joining CNBC Africa to discuss these projects is Mohan Vivekananda, Group Executive in Client Coverage & Origination at the DBSA.
Coronavirus
South Africa produces its first ventilators to fight COVID-19
Reuters -
Poorly resourced hospitals across Africa, which is nearing a million cases of COVID-19 — more than half of them in South Africa — have struggled to cope with a burgeoning case load amid a global scramble favouring richer nations in procuring ventilators and protective gear.
Videos
How the private equity industry is navigating COVID-19 crisis
According to a Private Equity Industry survey the private equity industry remained resilient in the face of weak macro-economic circumstances during the 2019 calendar year; which bodes well for the industry’s ability to navigate the COVID-19 crisis. Tanya van Lill, CEO of the Southern African Venture Capital and Private Equity Association joins CNBC Africa for more.
German Energy Investors Have a Bright Future in a Post-Covid 19 Africa
On Thursday, the Germany-Africa Business Forum (GABF) is organizing an exclusive webinar to encourage new deals between German and African public and private energy stakeholders. This is an extremely timely initiative. Covid-19 has accelerated several major trends and dynamics within Africa’s energy sector which are set to significantly increase the demand for German capital and technology on the continent. Energy has been identified by most African governments and financial institution
Coronavirus – Mozambique: COVID-19 Information
Download logoCountry-Specific Information As of August 03, 2020, Mozambique has 1,946 confirmed cases of COVID-19, including 654 in which the patients have recovered, and 13 deaths. Mozambique’s civil aviation authority has suspended international passenger flights. The Mozambican Government announced a continuation of the Level-3 State of Emergency until July 29. Some of the measures include: suspension of issuance of official documents (e.g. visas and travel documents, vehic
Coronavirus – Zimbabwe: Health Alert, New Lockdown Restrictions, and Commercial Flights
Download logoEvent: Update on Lockdown Restrictions and Availability of Commercial Flights On July 21, President Mnangagwa announced new restrictions under Zimbabwe’s lockdown regulations including: implementing a curfew from 6am to 6pm except for essential services. Given the new surge of reported cases of COVID -19 in Zimbabwe, the following types of businesses can only be open from 8am to 3pm daily: Fuel outlets Restaurants Banks Bureaux de changes Courts of law Parliam
Coronavirus – Africa: COVID-19 WHO Africa Update 03.08.2020
Over 950,000 confirmed COVID19 cases on the African continent - with more than 610,000 recoveries & more than 20,000 deaths cumulatively. View country figures & more with the WHO African Region COVID-19 Dashboard: https://arcg.is/XvuSX Distributed by APO Group on behalf of WHO Regional Office for Africa.Media filesDownload logo
Coronavirus – Malawi: Global Information and Early Warning System (GIEWS) Country Brief – Malawi (03 August-2020)
Download logoFOOD SECURITY SNAPSHOT Cereal production in 2020 estimated at bumper level, helping to bolster households’ food supplies and keeping national import requirements at below‑average level in 2020/21 Prices of maize decreased seasonally from March 2020, but remained higher on yearly basis as of June Estimated 1.9 million people in need of food assistance in first quarter of 2020; food insecurity conditions likely to worsen due to effects of COVID‑19 Down
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Rwanda deepens anti-corruption efforts, amends anti-money laundering law
Rwanda recently amended anti-money laundering and counter-terrorist financing law and regulations, a move that aims to improve the investment climate. This comes on top of another change that will see the prosecution freeze bank accounts and properties of those suspected to be involved into corruption as soon as an investigation begins. Researcher and Political Analyst, Gatete Nyiringabo joins CNBC Africa for more.
Videos
Network International to acquire online commerce platform DPO for $288mn
Yesterday it was announced that online commerce platform, DPO Group has entered into an agreement to be acquired by Network International. The deal, in which the latter is set to acquire 100 per cent of DPO for approximately $288 million, will see the company supporting Network International’s growth in the African market. CNBC Africa spoke to the CEO of DPO Group, Eran Feinstein for more.
Videos
Africa hunger levels rising fastest in the world – UN
A new United Nations study has revealed that almost 690 million people went hungry in 2019 up by 10 million from 2018, calling into question the goal to achieve zero hunger by 2030. The study has also predicted that Africa will be home to more than half of the world’s chronically hungry by that year. Food Systems Expert, Dr. Kirimi Sindi spoke to CNBC Africa for more.
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Must Read
Economists react to SA’s R70bn IMF loan
Economists continue to react to South Africa's R70 billion loan from the International Monetary Fund. Joining CNBC Africa to unpack the challenges and opportunities arising from the agreement is Isaah Mhlanga, Chief Economist at Alexander Forbes & Gina Schoeman, Chief Economist at Citi Bank.
Viffa Consult on the investment case for Kenyan start-ups amid COVID-19
In yet another growth market opportunity report, Viffa Consult has outlined the benefits of investing in Kenyan start-ups amid the pandemic. CNBC Africa spoke to Managing Director, Victor Otieno for more.
Rwanda to freeze assets of corruption suspects
Rwanda’s prosecution has said it will be freezing bank accounts and properties of those suspected to be involved into corruption as soon as an investigation begins.
#Africa50: Why Investing in Digital Infrastructure Post-COVID-19 is Critical to Africa’s Recovery
This special broadcast on the topic: Why Investing in Digital Infrastructure Post-COVID-19 is Critical to Africa’s Economic Recovery” brings together prominent speakers from the four corners of Africa. It also sees the announcement of the Africa50 Innovation Challenge Finalists....
Meristem Securities’ H2 outlook for Nigerian telcos
As the trading week comes to an end, Andrew Tsaku a trader at Kapital Care Trust joins CNBC Africa for a wrap of this week's sessions at the Nigerian Stock market and also breakdown some earnings.
Nigeria enters $1.5bn oil prepay deal
The Nigerian National Petroleum Corporation has signed a $1.5 billion prepayment deal backed by Vitol Group, Matrix Energy, and the African Export-Import Bank. The deal is also by Standard Chartered. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 law joins CNBC Africa to discuss the significance of this deal.
Videos
GUTA calls for closure of illegal retail businesses
Some members of the Ghana Union of Traders Association (GUTA) clashed with Nigerian traders at the Kwame Nkrumah Circle last week. The clash comes just days after the union announced the suspension of its planned nationwide demonstration. The demonstration was to call the attention of the government to the alleged illegal trading of foreigners in retail businesses that are reserved for Ghanaians by law or foreigners with proper documentation. Joseph Paddy, Public Relations Officer of the Ghana Union of Traders Association joins CNBC Africa for more.
Kenya prepares to reopen its borders for international tourism
Kenya is set to reopen for international tourism on August 1st after months of closure due to Covid-19 pandemic. To attract foreign tourists and revive the sector, the government is considering lifting the 14-quarantine requirement. Mohammed Hersi, Chairman of Kenya Tourism Federation joins CNBC Africa for more.
Independent panel clears AfDB’s Adesina of all allegations
A three-member independent review panel led by former Irish President Mary Robinson says they are satisfied with the submissions of the internal probe carried out by the ethics committee of the African Development Bank, thus clearing the president of the bank, Akinwumi Adesina of all 16 allegations levelled against him by unidentified whistle-blowers in January this year, accusing him of unethical conduct and questionable appointments. Financial Derivatives CEO, Bismarck Rewane joins CNBC Africa for more.
World Bank: AfCFTA to boost Africa’s income by $450bn by 2035
The World Bank says the COVID-19 pandemic has disrupted trade and triggered up to $79 billion in output losses in Africa alone this year. But the bank stressed that the African Continental Free Trade Agreement has the potential to boost Africa’s income by $450 billion by 2035. Winston Osuchukwu, co-Founder of Trans-Sahara Incorporated joins CNBC Africa for more.
Africa Prudential’s profit after tax rises 5% in H1
Africa Prudential recorded a 5 per cent increase in its half-year profit-after-tax. Managing Director and CEO, Obong Idiong says the impact of the Covid-19 pandemic was evident in the first-quarter numbers, but the company has since put some structures in place to maximize the current business cycle. He joins CNBC Africa to unpack the company’s half-year earnings.
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What to expect from Nigeria’s stock market in August
Nigeria’s stock market closed the month of July on a positive note as the All-Share Index stood at 0.88 per cent but it was a mixed performance for the different sectors on the bourse. Rotimi Fakayejo, Stockbroker and Capital Market Analyst joins CNBC Africa for more....
Okomu Oil’s first-half revenue soars 57.9% on the back of price, volume recovery
Okomu Oil Palm saw its revenue jump by 57.9 per cent to 13.5 billion naira in the first half of the year. Analysts say the surge in revenue comes on the back of a price and volume recovery. The company’s CEO, Graham Hefer, joins CNBC Africa for more.
Building Africa’s Prosperity EP9: The implications of COVID-19 on corporate governance
In this episode of Building Africa's Prosperity, the spotlight falls on sustainable and ethical corporate governance. CNBC Africa's Chris Bishop speaks to a big name in the legal game and the father of corporate governance in democratic South Africa - Dr Mervyn King - a former judge who wrote the King 1 2 3 and 4 reports on corporate governance. What part does corporate governance have to play in this fast changing world emerging form COVID-19?...
Seplat’s new CEO talks growth plans & half-year earnings
It’s a change of baton at Seplat, as the dual-listed oil and gas company on the London Stock Exchange and the Nigerian Stock Exchange gets a new CEO. Seplat Petroleum reported a 34 per cent decline in half-year revenue which the company says reflects the contribution of ELAND which was acquired at the end of 2019. Roger Brown, new CEO of Seplat joins CNBC Africa to discuss his plans for the company going forward.
How SA’s automotive sector is navigating COVID-19 headwinds
Demand uncertainty in equipment manufacturers and aftermarket environments is causing a devastating impact on the automotive sector, amid COVID-19. With a reported survey indicating revenue shortfalls along the value chain, what does the future of South Africa's automotive sector look like? CNBC Africa spoke to Lance Schultz, Chief Executive Officer at Gauteng, Automotive Industry Development Centre, to find out if there is any moderation to the sector's plans....
MTN Nigeria posts strong first-half growth despite tough market
MTN Nigeria says they managed to maintain double-digit service revenue growth of 12.6 per cent for the first half of the year despite the challenging environment witnessed in the second quarter. However, the communications services provider witnessed a 4.7 per cent decline in its half-year post-tax profits. MTN Nigeria CFO, Modupe Kadri joins CNBC Africa to break down the numbers.
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How to boost trade in the COMESA region
Despite preferences offered under the Free trade area that is the Common Market for Eastern and Southern Africa (COMESA), intra-Comesa trade is at a meagre 8 per cent of total trade. The Covid-19 pandemic has worsened the situation, with border closures causing disruptions to regional supply chains and thus slowing down trade. What can be done to improve intra-Comesa trade and attract more investments into the region? Chris Onyango, Director of Trade and Customs at COMESA joins CNBC Africa for more.
This fund aims to help Rwanda’s creative industry recover from COVID-19
In Rwanda, a total of 30 impact oriented and sustainable projects from stakeholders in the Cultural and Creative Industry are set to benefit from a RWF300 million ($315,900) recovery fund launched by the government and various partners. Joining CNBC for more is Rosemary Mbabazi, Minister Youth & Culture Rwanda and Geraldine Umutesi, Deputy Director General, Imbuto Foundation.
COVID-19: What to expect from Nigeria’s economic stimulus plan
The Nigeria Economic Sustainability Plan is a 2.3 trillion naira stimulus plan that the government of Nigeria wants to use to reduce the effects of an expected deep recession caused by the COVID-19. The first phase of the response plan focuses on agriculture for food and jobs. Kyari Bukar, former Chairman of the Nigeria Economic Summit Group joins CNBC Africa for more.
ECOWAS holds extraordinary summit on Mali’s political crisis
West African leaders have begun a virtual extraordinary summit to negotiate an end to the deepening political crisis in Mali. This comes after presidents from Nigeria, Ivory Coast, Senegal, Ghana and Niger held talks on Thursday last week that ended in a stalemate. Onyekachi Adekoya, Managing Director of PR24 Nigeria joins CNBC Africa for more.
COVID-19: Ghana records 10.6% y/y decline in economic activity in May
Ahead of Ghana’s MPC rate decision today, the Bank of Ghana’s economic activity indicator has shown a fall of 10.6 per cent in May, whilst consumer and business confidence levels have rebounded amid their sharp declines in April. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.
How Africa’s hospitality sector can bounce back from COVID-19
Africa’s hospitality sector still boasts great investment opportunities and long term value despite the COVID-19 crisis impacting economies and markets. This is according to Tim Cordon, Senior Vice President of the Middle East & Africa at the Radisson Hotel Group; he joins CNBC Africa for more.
Kenya Aviation Corporation to take over Kenya Airways
The aviation sector in Kenya is experiencing an interesting adjustment after a bill was tabled in parliament to guide the sale of Kenya Airways and to delist it from the Nairobi Securities Exchange. MPs will now start debate on The National Aviation Management Bill 2020 as the National Assembly seeks to have the government take back full control of the national carrier by October. Economic Analyst, Reginald Kadzutu joins CNBC Africa for more.
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England’s shoppers ordered to wear face coverings
Asked how the rules should work, Prime Minister Boris Johnson said: “We should rely on the massive common sense of the British people... The people understand the value of face masks in confined spaces.”
Understanding supply chain management in the time of COVID-19
Supply chain disruption is a concept that COVID-19 has brought to the fore. Escalating virus infections and lock-down regulations have given rise to an unfavourable stop and start mechanism in many industries. Will the supply chain management profession emerge stronger, from this crisis? To answer that question, CNBC Africa's Zinathi Gquma spoke to MJ Schoemaker, Director of The Professional Body for Supply Chain Management in Southern Africa.
Is SA doing enough to tackle COVID-19 corruption?
In his address to the nation last night, President Cyril Ramaphosa shone a spotlight on corruption in the country, particularly concerning the Covid-19 relief fund. The President expressed his commitment to cracking down on people that hinder the government from mitigating the negative effects of the pandemic. Karam Singh, Head of Legal and Investigations at Corruption Watch joins CNBC Africa for more.
How to unlock SA’s agriculture potential post-COVID-19
Industries across the South African economy have been battered by the COVID-19 pandemic. The South African economy recorded its third consecutive quarter of economic decline, falling by 2 per cent in the first quarter of 2020. However, the one sector that has outperformed other sectors is agriculture. Paul Makube, Senior Agricultural Economist at FNB Agri-business joins CNBC Africa for more.
Airtel Africa, UNICEF partner to provide youth with remote learning facilities
Telecoms group Airtel Africa, a business that primarily has operations in East, West and central Africa, has reported a revenue increase and customer base increase for its first quarter results. The telecoms giant has also partnered with UNICEF to provide youth with remote learning facilities and has seen an increase in activity in May and June as the ease of lockdowns are implemented globally. Airtel Africa CEO, Raghunath Mandava joins CNBC Africa for more.
How close is SA to a COVID-19 vaccine?
This week the Unites Stated and the UK have had encouraging updates of their respective Covid-19 vaccine trials, showing promising results which could see a vaccine available as early next year. Back home in South Africa, we are about a month into our vaccine trial and the country is experiencing volatile surges in case numbers, will this be a threat to the progress of the vaccine trial? Joining CNBC Africa for more is Shabir Madhi, Professor of Vaccinology at the University of Witwatersrand.
How the COVID-19 is impacting foreign direct investment into East Africa
The latest World Investment Report 2020 by the United Nations Conference on Trade and Development indicate that FDIs in East Africa declined by 9 per cent to $7.8 billion in 2019 from $9 billion in 2018. There could be a sharp decline in FDIs this year as the COVID-19 pandemic continues to ravage economies across the globe. Oscar Emasu, Research Analyst at Crested Capital joins CNBC Africa for more.
Kenya looks to lease sugar factories to help rehabilitate the industry
The Government sets in to rehabilitate sugar factories; demand for cut flowers has rebounded and the Central Bank moves to regulate non-bank loans; these are the stories making headlines in Kenya this week and CNBC Africa spoke to Journalist, Joseph Bonyo for more.