How COVID-19 has dampened interest in Uganda’s oil blocks
Uganda launched its second licensing round for five blocks in the oil-rich Albertine Graben last year, however, it ended the last round of the bid with only six companies
#ENDSARS: Here’s how the protests have impacted Nigeria’s soft commodities market
The fallout of the recent protests in Nigeria has spiralled into the looting of government-run food warehouses. So how does the impact the outlook for soft commodities? Ayodeji Balogun, CEO of AFEX Commodities Exchange joins CNBC Africa for more.
#MTBPS2020: A tightrope walk for Finmin Mboweni
South Africa’s medium term budget will be a defining litmus test on whether the government can take the country out of an economic slump or send it in the direction of a financial crisis.
All female taxi hailing service making headway into Ugandan market
In Uganda, an all-female taxi-hailing company has penetrated the market with the aim of creating employment for women who were hardest hit by the COVID-19 pandemic. Gillian Kobusingye, Founder of Diva Taxi joins CNBC Africa for more.
South Africa
721,770
Total confirmed cases
Updated on October 30, 2020 4:27 pm
Nigeria
62,521
Total confirmed cases
Updated on October 30, 2020 4:27 pm
Ghana
48,055
Total confirmed cases
Updated on October 30, 2020 4:27 pm
Kenya
52,612
Total confirmed cases
Updated on October 30, 2020 4:27 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
441
Total confirmed cases
Updated on October 30, 2020 4:27 pm
Uganda
12,201
Total confirmed cases
Updated on October 30, 2020 4:27 pm
Rwanda
5,131
Total confirmed cases
Updated on October 30, 2020 4:27 pm
Egypt
107,209
Total confirmed cases
Updated on October 30, 2020 4:27 pm
SA finmin Mboweni delivers the 2020 #MTBPS (Full speech)
All eyes were on South African Finance Minister Tito Mboweni as he delivered the Medium-Term Budget Policy Statement. Projections are that the South African economy will contract by 7.8 per cent this year, compared to an estimated 7.2 per cent in June. With State Owned Entities asking for more bailouts, R10.5 billion has been allocated to South African Airways, so that it can implement its business rescue plan....
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Assessing Africa’s energy future
The Executive Chairman of the African Energy Chamber, NJ Ayuk says even though oil and gas activities have taken a hit due to the COVID-19 pandemic, optimism surrounding African projects, fiscal regime and investments still exists. He joins CNBC Africa’s Kenneth Igbomor to discuss the future of energy in Africa.
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LCCI’s Muda Yusuf speaks on the fallout of #ENDSARS protests
Preliminary findings by the Lagos Chambers of Commerce and Industry show that the Nigerian economy suffered an estimated 700 billion naira loss to the #ENDSARS protests. Since then, events took a strange twist with vandalism and looting across the state. Muda Yusuf, the Director General of the LCCI joins CNBC Africa’s Kenneth Igbomor to discuss the developments.
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Airports Company SA reports R1.2bn profit boost, here’s how the pandemic impacted the business
Releasing its results for the year ended March; Airports Company South Africa reported revenue of R7.12 billion, EBITDA of R2.6 billion and profit of R1.2 billion.
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How viable is the sharing economy in Rwanda?
The sharing economy has been a success story in many parts of the world with the likes of Uber and Airbnb among the frontrunners.
How the Start-up Bill impacts Kenya’s SME ecosystem
Last month, Kenya published a start-up bill that aims to improve the start-up ecosystem by facilitating access to capital, lowering barriers to entry into market, among others. Victor Otieno, Managing Director at Viffa Consult shares updates and further insights into how it’ll shape the SME ecosystem.
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MAX.ng taps Nigeria’s capital market for growth
Nigerian mobility platform MAX.ng issued a 400 million naira one-year fixed rate series-one bond under its newly structured 10billion naira Private Company Bond program. Guy-Bertrand Njoya, Chief Financial Officer at Max.ng joins CNBC Africa for more.
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Trump vs. Biden: What the U.S election means for Africa
The early birds have already cast over 60 million votes as the race between Vice President Joe Biden and President Donald Trump gears up.
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FDC: Nigeria’s October inflation will spike to 14.4%
Financial Derivatives says before the #ENDSARS protest became a crisis, it had crippled Lagos businesses, markets and traffic while also inducing artificial scarcity of commodities.
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How the gaming industry is creating a positive social impact across African communities
The global video game industry is expanding, expected to reach $95.4 billion in revenue by 2022 and account for half of all video game sales. CNBC Africa spoke with Jay Shapiro, Founder and CEO of Usiku Games on how the continent is contributing to the growth trends and creating positive social impacts in communities.
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How Kenya can manage electronic waste effectively
According to the Global E-Waste Monitor report of 2020, a record 53.6 million metric tonnes of electronic waste was generated worldwide in 2019, up 21 per cent in just five years.
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Transnet sees decline in rail freight volumes in tough economic environment
Transnet has reported a 1.3 per cent decline in rail freight volumes, for the year ended March. This is mainly due to deteriorating economic conditions and low demand, particularly in the construction and manufacturing industries. Power supply interruptions and poor rail network conditions have also contributed to the state-owned company’s challenges. Transnet CFO, Nonkululeko Dlamini joins CNBC Africa for more.
Africa Energy Forum: IPP Office Head Tshifhiwa Bernard Magoro and Eskom CEO André de Ruyter to co-chair energy roundtable with investors
Download logoFor the first time, Eskom CEO André de Ruyter and Tshifhiwa Bernard Magoro, Head of South Africa’s IPP Office will Co-Chair an intimate boardroom on 2nd November during the Africa Energy Forum (www.Africa-Energy-Forum.com).
Programme Director of the Forum Shiddika Mohamed commented, “The pair have been in discussion for a number of weeks about the meeting, and have stressed how important it is to sit down together with investors to discuss how this relat
Hold your memories in your hands (By Amine Djouahra)
By Amine Djouahra, Sales and Marketing Director at Canon Central and North Africa (www.Canon-CNA.com)
Photography has grown to become one of the most important and accessible way of capturing and sharing memories over the decades. Memories that are made every day whether it is fun and special family moments or documenting important world events. Occasionally we should take time to go back to our photographs and think about how we can organize, protect, and share our memories better.
It u
Private sector investment in Benin, Burkina Faso, Chad and Senegal to accelerate following EIB insurance support
Initiative to leverage around EUR 1 billion private sector investment in Western and Central African states; EIB agrees EUR 60m financing to unlock African Trade Insurance Agency (www.ATI-ACA.org) membership; Team Europe-Africa cooperation supporting economic resilience to COVID-19.
Private sector investment in Benin, Burkina Faso, Chad and Senegal, will be strengthened following European Investment Bank support for the countries in their membership and share capital increase in the African
Uganda Rugby Unstoppables host Breast Cancer Awareness Workshop
“If you notice any changes in your breasts e.g. lumps or skin changes, consult a doctor as soon as possible.” Steven Buyondo.
The Uganda Rugby Unstoppables led by Samiya Ayikoru, hosted a breast cancer awareness workshop today at Kyadondo Rugby Club conducted by Dr. Steven Buyondo from the Uganda Rugby Medical Society.
Present at this workshop was the Uganda Rugby Union (www.UgandaRugby.com) CEO, Ramsey Olinga, Regina Lunyolo the women’s representative on the Uganda Rugby U
“Youth Voices, Actions, Engagement: Building A Better Africa”
Download logoWHAT: Africa Youth Month 2020
Theme: “Youth Voices, Actions, Engagement: Building A Better Africa”
WHEN: November 1st - November 30 2020
WHO: The African Union through the department of Human Resource, Science and Technology (HRST)
Africa Youth Month (AYM) will have a launch event on the 1st of November, Africa Youth Day, and four weeks of activities with each week themed along the 4Es of Education, Employment, Entrepreneurship and Engagement.
Given our
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Connect Frontier CEO: U.S-Africa relations could benefit from a Biden presidency, here’s why
More than 50 million Americans - that's nearly the size of South Africa's population - have cast early votes in the US election - a sign of intense interest in an election that could see the biggest turnout in more than a century. With just 11 days to go before the showdown at the polls between President Donald Trump and Joe Biden. Michael McDonald, the University of Florida professor who administers the U.S. Elections Project, predicts a record turnout of about 150 million, that is 65 per cent of eligible voters, the highest turnout since 1908. U.S. President Donald Trump and former Vice President Joe Biden participated in their final presidential debate. Grant Harris, CEO of Connect Frontier joins CNBC Africa for more.
Videos
Airtel Africa CEO delivers strong results, sees more growth opportunities on the continent
Airtel Africa has come out with strong results, reporting a 12.8 per cent increase in underlying EBITDA, for the six months ended September. Reporting 12 per cent growth in its customer base, the telecommunications company has declared an interim dividend of $1.5c per share. Airtel Africa CEO, Raghu Mandava joins CNBC Africa for more.
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Rwanda, Burundi meet to mend bilateral relations
Rwanda and Burundi held a bilateral meeting, hoping to restore the relations that worsen since 2015. The meeting came almost two months after the military intelligence chiefs of Rwanda and Burundi met at the same location to discuss security issues and cooperation. CNBC Africa spoke to by Julius Bizimungu, Journalist with The Newtimes for more.
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Must Read
Is SA going through a delisting crisis?
The number of companies listed on the world’s stock markets has collapsed, over the past two decades. In South Africa, the United States and the United Kingdom the number has been reduced by half. Some have raised their concerns, over what they call a “delisting crisis”. Yet, in many Asian economies, the number of listed companies has doubled. CNBC Africa spoke to Kondi Nkosi, Country Head for South Africa at Schroders to unpack the reasons behind these differences.
#ENDSARS: Nigeria’s President calls for calm amid escalating unrest
Amid escalating unrest in Nigeria, President Muhammadu Buhari addressed the nation last night. Nigerians have been protesting over Police brutality, more specifically abuses by the Special Anti-Robbery Squad. In his first public address on the protests, Buhari said that he is pained by the lives lost in the violence that has ensued. He has called for calm, and for protesters to stand down. Kenneth Igbomor, CNBC Africa’s West Africa Markets Editor unpacks the latest developments.
How dieting could help patients beat breast cancer
Approximately 19.4 million women aged 15 years and older live at-risk of being diagnosed with breast cancer. No single food or diet can prevent or cause breast cancer. But according to a new series of research conducted by the American College of Sports Medicine it shows that a healthy diet and exercising bolsters the health of the patient and could potentially help them beat cancer, CNBC Africa spoke with the Head of Newtricion Wellness Dieticians, Omy Naidoo for more.
Kigali financial hub strikes a deal to boost competitiveness of business sector
Kigali International Finance Centre signed a deal with the French Public Investment Bank to enhance the competitiveness of the business sector in both countries. Gwladys Watrin, Investor Relations -North Africa & Europe at Rwanda Finance limited joins CNBC Africa for more.
WEF: How the rise of machines & AI will shape future of work
COVID-19 has accelerated the need for digitisation in the workspace – bringing both challenges and opportunities. In its latest future of work report, the World Economic Forum expects advances in artificial intelligence to eliminate 85 million jobs by 2025. In the same breath, the rise of machines is projected to create 97 million new jobs, leading to an overall addition of 12 million jobs. CNBC Africa spoke to Saadia Zahidi, Manging Director of the World Economic Forum for more.
Clicks reports solid FY earnings, outlines plans to increase online presence
Clicks reported a jump in full year earnings, declaring a final dividend of 450 cents per share. The company was deemed an essential service during lockdown, with its stores stayed open. With the intention to use its reach and distribution network, Clicks announced that it wants to sell a Covid-19 vaccine once it becomes available. Clicks CEO, Vikesh Ramsunder joins CNBC Africa for more.
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#ENDSARS: Unrest escalates in Nigeria
Tensions in Nigeria are escalating, as citizens call for an end to Police brutality. About two weeks ago unrest erupted, with Nigerians voicing out their anger over abuses by the Special Anti-Robbery Squad. Thousands have taken to the streets, with peaceful protesters being shot and killed. Amnesty International has blamed security forces. A curfew has also been imposed in the capital Lagos. CNBC Africa’s Kenneth Igbomor and Onyekachi Adekoya, Managing Director at PR24 Nigeria share more insight.
Why harmonization of travel protocols is key to reviving tourism in East Africa
From lockdowns and curfews to testing and quarantines, each member state of the East African Community has employed its own ways to deal with the COVID-19 pandemic. Now as the region undertakes revival of tourism, experts believe harmonizing travel protocols would be vital. Fred Odek, outgoing Chairperson of the East Africa Tourism Platform joins CNBC Africa for more.
How Rwanda is leveraging tech to empower its teachers
It has been noted that building digital skills for the future is a key component in economic and social development.
How SA can prepare for a second COVID-19 wave in Europe
Europe has seen a significant increase in COVID-19 cases in recent weeks, with a second wave of COVID-19 threatening economies – economies that have already been battered by the pandemic. One of the concerns is South Africa’s preparation for the surge in cases in Europe. The markets are also looking at the looming U.S. Presidential election, and performance of emerging markets in the fourth quarter. Jameel Ahmad, Director of Investment Strategy at NAGA joins CNBC Africa for more.
Long4Life CEO: Here’s where we see expansion opportunities
Investment firm Long4Life has reported a 75.5 per cent drop in interim profit, following a significant disruption on all group businesses, due to COVID-19. Long4Life - which owns Sportsmans Warehouse and Sorbet - has reported that trading profit for the six-months ended August declined to R49.1 million. Group revenue fell by 22.6 per cent to R1.4 billion. Long4Life CEO, Brian Joffe joins CNBC Africa for more.
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Why Gun Sales Are Surging Ahead Of The Election: CNBC After Hours
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Josh Lipton breaks down the reasons why gun sales have been surging across the United States ahead of the presidential election between President Donald Trump and Democratic nominee Joe Biden. CNBC.com's After Hours team also sits down with Stefanie Miller of FiscalNote Markets and CNBC's Bob Pisani to discuss the different political scenarios facing Wall Street and Main Street....
How Safe Are U.S. Election Results?
In an era of deep political divide, half of registered voters in the U.S. said they expect to have difficulty casting their ballot in the 2020 presidential election between President Donald Trump and former Vice President Joe Biden. Coronavirus and social distancing have only added to the complexities of voting, with millions expected to vote by mail for the first time and all but about a half-dozen states allowing some type of early in-person voting. So with fears of voter intimidation, outdated election machines and mail-in ballot fraud, just how secure are American elections and what safeguards are in place to protect the results? Watch the video above to find out.
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How Safe Are U.S. Election Results?...
Post #MTBPS2020 analysis: Tracking business & market reaction to Mboweni’s #midtermbudget speech
This afternoon, Finance Minister Tito Mboweni walked a tight rope, tabling a five-year fiscal consolidation pathway. This aims to promote economic growth, while bringing spiralling debt under control. The Minister said that the Cabinet remains resolute and will walk through the narrow gate towards fiscal sustainability. Mpho Molopyane, SA Economist at Rand Merchant Bank and Louis Botha, Senior Associate for Tax & Exchange Control at Cliffe Dekker Hofmeyr join CNBC Africa for more....
Nigerian equities continue positive momentum
The positive momentum at Nigeria’s equities market continued for the fifth consecutive session largely supported by gains from the consumer goods stocks. Olamide Adeboboye, Research Analyst at ARM Securities joins CNBC Africa for more....
Nigerian fixed income & Fx market review
Traders at UBA say they expect the pressure on the naira to drop in the short term as the Central Bank is still committed to its weekly forex sales to BDCs across the country, which is anticipated to inject more liquidity to the forex market. Following today’s Treasury Bills Auction, Dumebi Udegbunam, Fixed Income Trader at UBA joins CNBC Africa for a midweek review of events at Nigeria’s Fixed Income and Forex Market....
How remote work has changed office life 230 days into the coronavirus pandemic: CNBC After Hours
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, Harvard Business School's Ethan Bernstein breaks down his recent study on how the remote work transformation has affected rank-and-file employees during the coronavirus pandemic....
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Here’s how Kenya plans to boost uptake of electric vehicles
By 2025, electric vehicle imports will make up five per cent of the total number of vehicles registered in Kenya according to a new government strategy that aims to accelerate adoption of electric vehicles in the country. The strategy will also require all new buildings to incorporate charging stations. To understand what this means to the automotive industry and the future electric mobility on the continent, CNBC Africa spoke to Dr. Rebekah Shirley, Chief Research Officer at Power For All.
RURA’s Director General speaks on new fares & public buses returning to full capacity
A recent cabinet resolution permitted public buses in Rwanda to operate at full capacity after months of running at half capacity as a measure to curb the spread of COVID-19. A few days after, Rwanda Utilities Regulatory Authority (RURA) announced revised transport fares which have drawn criticism from the public. So are the new fares fair? Rwanda Utilities Regulatory Authority, Director General, Patrick Nyirishema explains.
#ENDSARS: 6 states institute judicial panels
Six of the 36 states in Nigeria have inaugurated Judicial panels on police brutality in their respective states. The move comes after a directive by the Nigeria Economic Council informing all state governors to take charge of these panels in the wake of the #ENDSARS protest. Valentine Utulu, Managing Partner at Legal Crest joins CNBC Africa’s Kenneth Igbomor for this conversation.
Institute for National Transformation’s Vincent Anigbogu on how to find solutions to the #Endsars protests
At this year’s Independence Day celebration, President Muhammadu Buhari stated that sixty years of Nigeria’s nationhood provides an opportunity for everyone to ask questions on the extent to which the country has sustained the aspirations of its founding fathers. If it’s on the right course and if not how can Nigeria remedy and retrace its steps. Few days after the speech, Nigerian youths took to the streets to demand for police reforms after a young man was shot in Delta State by police officers. Professor Vincent Anigbogu, Director-General of the Institute for National Transformation joins CNBC Africa for more.
SA retains top spot in the Absa Africa Financial Markets Index
Scoring 89 points, South Africa has retained the top spot in the latest Absa Africa Financial Markets Index.
Ethiopia suspends plan to privatise national carrier
In Ethiopia, the government announced suspension of the planned partial privatization of national carrier Ethiopian Airlines.
OPEC+ meets as demand concerns weigh oil markets
The Joint Ministerial Monitoring Committee of oil producer club, OPEC will meet virtually today to assess the state of the market. But expert say they do not expect any major decision on crude supply until the two-day meeting scheduled for the 1st of December. Uchenna Minnis, Managing Partner at BluFX Nigeria joins CNBC Africa for more.
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Calgro M3 half-year headline loss widens to 26.29c
Calgro M3’s headline loss per share widened to 26.29 cents in August, against a 3.24 cents per share loss in the previous comparable period. The company incurred significant costs, as construction activity was halted for two months, due to the COVID-19 lock-down. No interim dividend has been declared. Calgro M3 CEO, Wikus Lategan joins CNBC Africa for more.
Omnia reaches agreement to sell Oro Agri to Rovensa
Omnia Holdings has reached an agreement to dispose of Oro Agri to Rovensa - a European-headquartered business - which produces and distributes bio-control, bio-nutrition and crop protection solutions. This follows Omnia’s announcement in June that it had received a non-binding offer, which warranted further investigation. Omnia CEO, Seelan Gobalsamy joins CNBC Africa for more.
Protests in Nigeria & Cote d’Ivoire threaten to slow economic activity
Protests in Nigeria and Cote d’Ivoire are threatening to once again slow economic activity. In Nigeria, protests against police brutality have been gathering momentum across the country, with mounting fears that it could worsen the already difficult economic situation. The Lagos Chamber of Commerce and Industry noted that the protests are adversely affecting business and could lead to a shutdown of the economy if not properly managed. Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking joins CNBC Africa for more.
How the insurance sector can play a role in Africa’s recovery
CNBC Africa spoke with Nizar Juma, Chairman of Jubilee Holdings Limited on the role of the insurance sector in economic recovery on the continent.
Ugandan opposition party headquarters raided by police
News of Ugandan opposition party, NUP’s headquarters being raided by Ugandan security forces made international headlines. CNBC Africa spoke to Analyst, Kenneth Agutamba to get the full story and to discuss what this means for the future of opposition leader, Bobi Wine’s campaign.
How COVID-19 impacts the resumption of sporting events in East Africa
Since the beginning of the pandemic, we’ve seen certain sporting activities return to our televisions slightly different than we had known them before. From the NBA Finals and the Champion’s League opting to exclude spectators all together; to events like the French Open allowing for only a percentage of their seats to be occupied by fans; new measures reducing contact is charactering the return of sports. So, could this be the next step for the East African sports industry? CNBC Africa spoke to Sports Analyst, Sharon Allela for more.
Assessing Africa’s preparedness in handling food systems shocks
As the world marks World Food Day today, CNBC Africa spoke with John Macharia, Country Manager, AGRA, Kenya on Africa's preparedness in handling food systems shocks and the needed global action to improve the systems.
How data can help capital markets manage future shocks
The Nigerian Stock Exchange aims to bring the spotlight on the importance of data in mitigating shocks in the capital markets and focus on how identifying consistent patterns can help deliver a better return on investment. Jude Chiemeka, Head of Trading Business Division at the NSE joins CNBC Africa’s Kenneth Igbomor for more.