Home East Africa

East Africa

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.

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.

Rwanda gets $109mn from IMF for COVID-19 fight

In Rwanda, IMF has confirmed that it has approved $109.4 million in credit to help address the COVID-19 pandemic. Moreover, The City of Kigali and Nyarugenge District Authorities have shifted some food trading activities from city markets to Nyabugogo Bus Park to decongest marketplaces, and RwandAir is working on launching cargo flights in the coming days to respond to demand in movement of good. CNBC Africa is joined by Hudson Kuteesa, Journalist with The Newtimes for more.

Kenya, US start talks on trade agreement

The US Trade Department has started negotiations on a comprehensive trade agreement with Kenya in a move that will extend Kenya’s preferential access as the current trade arrangement under the Africa Growth and Opportunity Act (AGOA) closes in 5 years. If successful, the United States would forge its first bilateral trade accord with a sub-Saharan African country. Grant Harris CEO, Harris Partners LLC joins CNBC Africa for more.

Lockdowns, curfews and doorstep testing: Africa’s crackdown on the coronavirus

By: Elliot Smith KEY POINTS The Africa Centers for Disease Control and Prevention (Africa...

Op-Ed: Ethiopia – Abiy leads African appeal for relief actions

Acutely aware of Ethiopia’s vulnerability to the health and economic repercussions of the COVID-19 pandemic, Prime Minister Abiy Ahmed urged “collective leadership and coordinated responses” to overcome the challenges posed by the unprecedented shock.

Rwanda extends COVID-19 lockdown by two weeks

The decision to extend the current two week lockdown initially declared on March 21 to contain the spread of the coronavirus was reached during an extraordinary cabinet meeting held via video conference on Wednesday.

Tanzania confirms first coronavirus death

Tanzania confirmed its first coronavirus death on Tuesday, Health Minister Ummy Mwalimu said in a statement.

Op-Ed: Victor Oladokun on why Africa urgently needs an Ubuntu Plan

“Africa urgently needs a globally coordinated Ubuntu Plan in response to COVID-19, a fiscal stimulus that recognises our shared and connected humanity, as we find ourselves in the midst of an unprecedented crisis,” writes Victor Oladokun.

How COVID-19 is transforming the way students are educated

In a matter of months COVID-19 has changed how students are educated after numerous countries put forward strict measures and closed schools. Robert Stephanus Kleynhans, Director, SABIS International School Runda joined CNBC Africa to give insight on how the education system in Kenya is responding to these changes and if the new solutions for education could bring much needed innovation in the sector.

The economic cost of Kenya’s COVID-19 curfew

Kenya recently put in place a partial lockdown to curb the spread of COVID-19 with a full shutdown likely to be imposed in light of increasing number of infections. Risk Expert, Caroline Gathii joins CNBC Africa to discuss the economic implications of this curfew.

AfDB President bids farewell to Victor Oladokun, Director of Communication

“Victor joined the Bank two and half years ago, and has provided exceptional leadership on communication. He has led an outstanding team,” writes African Development Bank President, Dr Akinwumi Adesina.

How Kenya plans to help its SMEs weather COVID-19 crisis

Small and medium enterprises are some of the most affected in Kenya due to the on-going global COVID19 pandemic but to help cushion the economic blow, the government has introduced a series of stimulus measures, including reducing value-added tax and corporation tax but is this enough; CNBC Africa spoke to George Bodo, Director at Callstreet Research and Analytics LTD.

Op-Ed: African giants to stumble due to Covid-19 pandemic

NKC African Economics expects the coronavirus-related knock to economic growth in Africa’s three largest economies alone to shave off 1 ppt from the continent’s GDP growth this year, from 3.8% to 2.8%.

WHO: Sub-Saharan Africa reporting at least 300 COVID-19 cases a day

COVID-19 cases are occurring at the rate of 300-a-day in sub-Saharan Africa and there are likely to be many more that the authorities are missing, a World Health Organisation briefing on the continent admitted Thursday.

How will Africa’s aviation industry survive COVID-19 crisis?

IATA has estimated that the African Aviation Industry will lose more than $4 billion as a result of the COVID-19 pandemic – now with only Ethiopian Airlines posting profits in recent times on the continent, many of the industry players were in survival mode even before this pandemic. However, can they live to see past this black swan? Secretary General of the African Airlines Association (AFRAA), Abderahmane Berthé joins CNBC Africa for more.

How COVID-19 is impacting SMEs in Africa

Small and Medium Enterprises are important drivers of Africa’s economic growth, accounting for up to 90 per cent of all businesses in these markets. Now with almost everything put to a halt due to COVID-19 outbreak, this sector is expected to be hit hard. EFI Hub CEO, Anu Shah joins CNBC Africa to discuss measures to minimize the loss.

Rwanda Stock Exchange remains steady despite COVID-19 pandemic

Despite the COVID-19 pandemic, the Rwanda Stock Exchange has maintained an upward trend with secondary market activities increasing and the All Share Index up to 10.75 per cent. Pierre Celestin Rwabukumba, CEO of Rwanda Stock Exchange joins CNBC Africa for more.

How to protect yourself from coronavirus related fraud and scams

With closure of schools and offices, many people are looking for alternative entertainment platforms to stay away from social gatherings. Recently, Mobile Games company, Usiku Games, free-rated its fees on mobile app games and they expect to create a fan-based of 1 million subscribers during this lockdown. Alex Owiti, ICT Policy Analyst joins CNBC Africa for more.

Islamic State claims Mozambique attack close to gas projects

Militant group Islamic State has claimed responsibility for an attack in northern Mozambique just south of the site of gas projects worth $60 billion being developed by the likes of Exxon Mobil and Total.

African SMEs bearing the brunt of COVID-19 pandemic

The future of work as we know it might never be the same as a result of the impact of COVID-19, but what exactly is instore for us? Iris Irumva, Managing Director of ITM Africa joins CNBC Africa for more.

How will Rwanda’s TVET aspirations bounce back from the COVID-19 crisis?

Last year the Prime Minister said that Technical and Vocational Education and Training (TVET) is one of the most powerful tools in fighting poverty and bridging the skills gap in Rwanda, The Gov't has subsequently been putting a focus on TVET, with the goal of increasing the number of students in such schools from 31 to 60 per cent by 2024 – but with all schools closed and most industries directed to suspend operations for an initial period of two weeks, how will these plans get back on track after the COVID-19 crisis passes? Will new goals have to be set? Deputy Vice Chancellor from Rwanda Polytechnic, Rita Mutabazi joins CNBC Africa for more.

Is this an opportunity for fintech companies to flourish despite COVID-19

As we continue to adapt our lives around the effects of COVID-19 on humanity, one sector that has been predicted to flourish in these times is the fintech sector, but how will this happen? Founder of the Eversend App mobile wallet, Stone Atwine joins CNBC Africa for more.

Kenya to seek IMF help, pay arrears, speed tax refunds over coronavirus, officials say

Kenya’s government plans to seek help from the International Monetary Fund, pay pending bills to suppliers and quickly process company tax refunds to support the economy in the face of the coronavirus crisis, officials said.

Burundi suspends all flights to prevent spread of COVID-19

In Burundi, the Minister in charge of Public Security suspended all flights in and out of the country to prevent the spread of the coronavirus. He further said borders into the country will remain open and citizens are advised not to travel to countries that already have COVID-19 cases. Analyst, Jean Claude Nkundwa joins CNBC Africa on the measures put forward by the country.

UNECA on COVID-19’s impact on African economies

The United Nations Economic Commission for Africa predicts that coronavirus will cut 1.4 per cent off Africa’s $2.1 trillion GDP due to widespread disruption of business on the continent and across the world. According to estimates, countries on the continent have so far lost an estimated $29 billion to the coronavirus economic disruption, an amount equal to Uganda’s gross domestic product. Dr Mama Keita, Director of UN Economic Commission for Africa in Eastern Africa joins CNBC Africa for more.

This is how COVID-19 is affecting local businesses in Rwanda

As of last weekend the Government of Rwanda deemed all bars closed, and all restaurants and cafe's only open for take away services for an initial period of two weeks. That leaves the country that's officially on lock down with no choice but to cook or order their food to go, and with local security forces peppering the streets ensuring that quarantine rules are followed, food delivery services are becoming more useful than ever. Insert Vuba Vuba, the delivery service that emerged when Jumia officially closed it's Rwanda operations at the end of last year. Albert Munyabugingo, Founder of the service joins CNBC Africa to explain how the lock down has affected his business.

Op-Ed: Tips to Successfully Work from Home amid the COVID-19 pandemic

Following the address made by South African President Cyril Ramaphosa regarding COVID-19 and its impact on the nation, employees and employers are being asked to “self-quarantine” and implement “social distancing”

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.