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.
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.
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 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.
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, the CNBC.com After Hours team explains why short-form video company Quibi shut down after only six months. And we speak with Piper Sandler analyst Nicole Miller Regan on how Wingstop became one of the hottest restaurant stocks of 2020. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC...
Tourism is Uganda’s highest foreign exchange earner but low budget allocation to the sector is among issues affecting its growth. For more on the challenges as well as investment opportunities in the sector, CNBC Africa spoke to Pearl Kakooza, President of Uganda Tourism Association. She starts by explaining interventions made to help the sector recover from the effects COVID-19.
Rwanda has positioned itself as a luxury tourism destination, taking the low-volume, high-value approach. In efforts to better service delivery in the tourism and hospitality industry, the country has invested heavily in skills development. CNBC Africa’s Tesi Kaven had a conversation with Julia Mut, the Global Program Manager of EF Education First, for more on how skills development can boost the tourism sector in Rwanda.
Fires burned across the commercial capital on Wednesday as roving groups of young men, some protesters still on the streets, and armed police clashed in some neighbourhoods
Altron has reported a 28 per cent increase in headline earnings per share, from the previous comparable period. This is from continuing operations. Despite the impact of COVID-19, the company has declared an interim dividend of 33 cents per share, up 14 per cent from August last year. Altron CEO, Mteto Nyati joins CNBC Africa for more.
Regional trade has hit a snub as a result of the COVID-19 greatly affecting border communities and traders. But could there be a compromise to enable an accelerated bounce back? CNBC Africa’s Arnold Kwizera spoke to Trademark East Africa Country Director, Patience Mutesi Gatera for more.
The levels of intra-African travel have remained low due a number of challenges including the cost of travel, lack of air connectivity as well as visa requirements.
IATA downgrades traffic forecast for Africa, a slow & painful recovery for the aviation industry expected
The International Air Transport Association has downgraded its traffic forecast for Africa for 2020, to reflect a weaker-than-expected recovery. IATA now expects full-year 2020 passenger numbers in Africa to reach only 30 per cent of 2019 levels. This is down significantly from the 45 per cent that was projected in July. Joining CNBC Africa to review the airspace developments in Africa and the Middle East is Adefunke Adeyemi, Regional Director for Advocacy and Strategic Relations in Africa, at IATA.
In spring 2020, four U.S. senators faced accusations of using insider knowledge about the coronavirus crisis to sell off hundreds of thousands of dollars in stock. A couple of months later, the investigations into senators Kelly Loeffler (R-GA), Dianna Feinstein (D-CA), and James Inhofe (R-OK) were closed. Sen. Richard Burr (R-NC) stepped down as chairman of the Senate Intelligence Committee amid the allegations. Congressional insider trading has long been a hot button issue, and lawmakers continue to look for a way to put an end to the practice. In 2012, the STOCK (Stop Trading on Congressional Knowledge) Act was passed following allegations of insider trading before the 2008 financial crisis. However, experts say the law didn’t go far enough. Watch the video to find out how prevalent insider trading is in Congress and what’s being done, and what’s not being done, to stop it. CORRECTION (October 21, 2020): A previous version of this video mischaracterized the investment returns from several studies. They should have been characterized as basis points. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News O...
An already bleak outlook for young people has been made worse by the coronavirus-induced economic crisis damaging their employment prospects. CNBC’s Silvia Amaro looks at what makes teens and adults in their twenties so vulnerable in this downturn. ----- Subscribe to us on YouTube: http://cnb.cx/2wuoARM Subscribe to CNBC International TV on YouTube: https://cnb.cx/2NGytpz Like our Facebook page: https://www.facebook.com/cnbcinternational Follow us on Instagram: https://www.instagram.com/cnbcinternational/ Follow us on Twitter: https://twitter.com/CNBCi #CNBC #youth #economy...
The Lagos state governor said 30 people were hurt in the shooting at the gate, a focal point of the protests. One man had died in hospital from a blow to the head, he said, but it was not known if he was a protester.
Hundreds of millions of dollars of the loans the bankers helped arrange went missing. The scandal prompted donors including the International Monetary Fund to cut off support to Mozambique, triggering a currency collapse and debt default.
Exactly a month ago today, the JSE Top 40 index traded at 37,550 points with the COVID-19 sell-off rippled across local and global markets. Today the index has gained 20 per cent from those lows, not far behind global peers on Wall Street. Is this a signal investors think the worst of COVID-19 is over? Byron Lotter, Portfolio Manager, Vestact and Seleho Tsatsi, Investment Analyst at Anchor Capital join CNBC Africa for more....
While Thursday’s stock market was fueled by the rapid global spread of the coronavirus pandemic, and U.S. President Donald Trump’s announcement of travel restrictions from Europe, markets today are painting an inconsistent and chaotic picture.
Markets in turmoil: India, Thailand halt trading, stock futures point to more pain ahead for US, European & African markets
Stock futures pointed to more pain ahead on Friday.
It’s helpful to know what a “bear market” is, because based on history it looks like we could be here for a while.
The rout on the equities market in Nigeria continues for the fifth straight session today as sell sentiments continue. Tunde Oyekunle, Head of Investment Banking at PAC Capital joins CNBC Africa to review the equities market....
“We don’t know what may happen further with the boat, it may crack more,” said clean up volunteer Yvan Luckhun.
LONDON (Reuters) - Britain’s economy could shrink by more than 14% this year and government borrowing risks approaching 400 billion pounds ($500...
JOHANNESBURG (Reuters) - South Africa’s rand weakened in early trade on Tuesday as worries over surges in coronavirus infections reactivated investor concerns...
The $600 supplement Congress added to weekly unemployment benefits are set to expire at the end of the month, leaving jobless Americans at risk of facing a cash cliff while jobs are still scarce.
Africa’s mobile phone operators are ramping up plans to bring banking to millions of Africans, in some cases for the first time, after the coronavirus crisis caused a surge in use of digital financial services.
Nigeria’s Securities and Exchange Commission says it will regulate crypto-token investments when the character of the investments qualifies as a securities transaction. So what impact will this have on Nigeria's banking sector? Muyiwa Oni, Regional Head of Equity Research at Standard Bank Group joins CNBC Africa’s Christy Cole for this conversation and more.
Banks in South Africa are seeing one of their worst crises in ages with rising bad loans and hefty impairment charges in an economy which was already in recession before the pandemic. The country's bank index .JBANK is currently trading at a discount of almost 40% to the country's top 40 index .JTOPI.
Many South African banks will be reporting their financial results in the coming days. As expected, COVID-19 has brought on a financial crunch for banks that were already downgraded in March, by Fitch Ratings. Mahin Dissanayake, Senior Director at Fitch Ratings joins CNBC Africa to give insight into the position that banks are in and the South African Reserve Bank’s response to COVID-19.
“Today’s economic crisis is exacerbating economic and racial divides and exposing systemic barriers to opportunity”, Dimon said in an opinion piece in the Wall Street Journal on Monday, adding that often high-achieving people across New York were not given opportunities at the city’s top employers.
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.
Along Rwanda’s journey to becoming a knowledge-based economy and an ICT leader in the region, one major priority is relevant training and education.
The COVID-19 pandemic has had an immense impact on the tourism sector in Africa. However, the crisis has also unlocked numerous opportunities, which if leveraged, can help in the recovery of the sector. CNBC Africa’s Tesi Kaven spoke with the Director of Vatel Rwanda, Nicole Bamukunde for more.
This weekend will see the first El Clasico of the Covid-19 era. With the opening up of the country, this means the return of public viewing in South Africa, and specifically in Johannesburg. 2020 has been a difficult year, not just for football but for the world in general, and this month’s El Clasico will be a unique game in unique circumstances. Marcos Pelegrin, Managing Director of LaLiga South Africa joins CNBC Africa for more.
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.
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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.
On Tuesday violence erupted in Lagos, Nigeria. Some military personnel fired at youths protesting over police brutality and deep-rooted social injustices. CNBC Africa’s Kenneth Igbomor spoke to Nobel Laureate Wole Soyinka about the situation.
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.
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.
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.
Releasing its interim results today, Pick n Pay reported a 56.3 per cent drop in its comparable headline earnings. The retailer is preparing to open its first store in Nigeria. This is during a time when a number of South African retailers are withdrawing from the West African nation. Continuing its expansion drive, the supermarket chain also announced its purchase of the Bottles app. Pick n Pay CFO, Lerena Olivier joins CNBC Africa for more.
In its 2020 Country Private Sector Diagnostics report for Nigeria, the International Finance Corporation argues that Nigeria must focus on a wider private sector-led growth strategy to create millions of quality jobs for its population.
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.
The peaceful #EndSars protest against police brutality across Nigeria took a new turn in recent days, as hoodlums attempt to hijack the process.
CNBC Africa spoke with Christian Benimana, Senior Principal and Managing Director, MASS Design Group on the role of architecture in fighting a pandemic.
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.
It has been noted that building digital skills for the future is a key component in economic and social development.
Non-Tariff Barriers are among the main obstacles to intra-African trade. A report by the United Nations Conference on Trade and Development (UNCTAD) shows that African countries could gain USD20BN each year by tackling these barriers at the continental level. CNBC Africa spoke to the Economic Affairs Officer at UNCTAD, Giovanni Valensisi, for more on trade barriers in Africa.
Standard Chartered Kenya has reported a decline in the bank’s half year earnings while at the same time taking an interesting route of increasing its loan provisions. CNBC Africa’s Arnold Kwizera caught up with the bank’s CEO Kariuki Ngari for more.
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.
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.
Trinity Energy Limited, South Sudan's oil marketing firm is set to invest $10million in its Kenyan operations and also plans to build a $500 million crude oil refinery in South Sudan to serve the region with refined petroleum products. Parek Maduot, Director of Economic Development &Regional Integration, at the International Conference on the Great Lakes Region joins CNBC Africa for more.
Pfizer and BioNTech have recently started phase III trials of a potential COVID-19 vaccine. This comes at a time when a joint the Regional Expert Committee on Traditional Medicine for COVID-19 formed by the World Health Organization (WHO), the Africa Centre for Disease Control and Prevention and the African Union Commission for Social Affairs has endorsed a protocol for phase III clinical trials of herbal medicine for COVID-19 so what is the current state for clinical trials on the continent? Dr. Thomas Nyirenda, Director of Programs at the Africa Academy of Sciences joins CNBC Africa for more.
Africa Press Office
New cases: 11 Total confirmed cases: 5885 Total active cases: 415 Total recovered: 5287 (523 New) Total number of tests conducted: 59402 (350 New) Total deaths: 183 (0 New)Distributed by APO Group on behalf of Ministry of Health and Population, Republic of Malawi.Media filesDownload logo
The number of COVID-19 cases in the WHO African Region is now at 1,262,476, with 28,601 deaths. The number of new deaths decreased by 37%, with South Africa reporting 46% of total. For more detailed analysis, read our most recent COVID-19 Situation Report. 10 countries account for 86% (1,080,986) of reported COVID-19 cases in the African Region: South Africa, Ethiopia, Nigeria, Algeria, Ghana, Kenya, Cameroon, Côte d’Ivoire, Madagascar & Zambia. South Africa accounts for 56% of ca
Foreign Direct Investment (FDI) Inflow Begins to Rebound as Ghana Records FDI of 785.62 Million Dollars in First Half of 2020
Ghana has recorded total investments of US$869.47 million, with total FDI value amounting to US$785.62 million between January to June 2020 as FDI inflow showed rare strength in the final moments of the second quarter of the year, undeterred by the Covid-19 pandemic. The total FDI of US$785.62 million represents investment recorded by the Ghana Investment Promotion Center (GIPC) (https://www.GIPCGhana.com/) and the Petroleum Commission. Worldwide, the United Nations Conference on Trade and D
COVID-19 Update: A total of 25 788 tests were conducted in the last 24 hours, with 2 156 new cases. Regrettably, we report 20 more COVID-19 related deaths in the past 48 hours bringing the total number of deaths to 18843. Click the link for full report: https://buff.ly/3knvtdB.Distributed by APO Group on behalf of National Institute for Communicable Diseases, South Africa (NICD).Media filesDownload logo
Results of COVID-19 tests done on 22 October 2020 confirm 122 new cases. The cumulative confirmed cases are 11,163. - One new COVID-19 death recorded from Kampala. The total COVID-19 deaths are now 99. - Recoveries: 7,269 - The breakdown of the new cases are: 122 contacts and alerts: Kampala (55), Wakiso (11), Mukono (10), Mbarara (7), Gulu (5), Tororo (5), Kibuku (3), Luwero (4), Manafwa (3), Mbale (3), Kyotera (2), Rubanda (2), Buikwe (1), Bunyangabu (1), Bushenyi (1), Kabale (1), Kayung
Download logoAs of 1pm on 22 October, the Western Cape has 3247 active COVID-19 infections with a total of 114 534 confirmed COVID-19 cases and 106 979 recoveries. Total confirmed COVID-19 cases 114 534 Total recoveries 106 979 Total deaths 4308 Total active cases (currently infected patients) 3247 Tests conducted 649469 Hospitalisations
Coronavirus – African Union Member States (55) reporting COVID-19 cases (1,685,589) deaths (40,690), and recoveries (1,387,022)
Download logoAfrican Union Member States (55) reporting COVID-19 cases (1,685,589) deaths (40,690), and recoveries (1,387,022) by region: Central (59,549 cases; 1,132 deaths; 52,947 recoveries): Burundi (551; 1; 472), Cameroon (21,570; 425; 20,117), CAR (4,855; 62; 1,924), Chad (1,410; 96; 1,223), Congo (5,156; 92; 4,400), DRC (11,097; 304; 10,473), Equatorial Guinea (5,074; 83; 4,961), Gabon (8,901; 54; 8,479), Sao Tome & Principe (935; 15; 898). Eastern (199,841; 3,728; 126,107): Comoros
AU Heads of State at the 2nd Mid-Year Coordination Meeting Call on Political and Social Actors to Respect Human Rights and the Rule of...
Download logoFive years after the adoption of the Africa Agenda 2063 and its vision for greater African economic and political integration, and taking into consideration that next year marks three decades since the adoption of the Abuja Treaty establishing the African Economic Community, Heads of State and Government from the Regional Economic Communities (RECs) and the Regional Mechanisms (RMs) together with the African Union Commission, held a virtual meeting on 22nd October 2020 to take stock
As COVID-19 increases global food insecurity, less children are receiving nutrition support across conflict-affected states
Download logoA new analysis by the International Rescue Committee finds that the number of children receiving treatment for malnutrition has decreased across conflict-affected countries, despite increasing food insecurity reported globally, indicating that life-saving treatments have been less accessible to families during the COVID-19 pandemic; The number of patients seeking care for malnutrition at IRC-supported clinics has decreased as compared to last year since COVID-19 started spreading by
Online food delivery is one of the fastest growing online segments and the food and beverage market is expected to reach $1Trillion by 2030.
Experts have described the deal between Paystack and U.S firm Stripe as one of the largest Mergers and Acquisition deal in Nigeria’s fintech industry one which they say shows that the industry is moving in the right direction. Joining CNBC Africa’s Kenneth Igbomor for a conversation on the future of Nigeria’s Fintech space are; Collins Onuegbu, Executive Vice Chairman of Signal Alliance and Kayode Akindele, Partner at TIA Capital.
While some say Nigeria scored a major point in reforming its business ecosystem with the new companies and allied matters act of 2020. Some others, however, have viewed the provisions as it relates to Not-For-Profit Organisations as a poisoned chalice. Tomi Vincent, Managing Partner, Ivory Solicitors joins CNBC Africa to discuss the sticking points....
The COVID-19 pandemic saw Rwanda close schools in March this year. A month later, Dr. Valentine Uwamariya took the helm of the Ministry of Education. CNBC Africa’s Steven Muvunyi sat down with her to discuss the forthcoming reopening of schools as well as her experience and priorities....
Economies all over the world are putting in plans to stimulate growth, so they can recover from COVID-19. We are seeing a resurgence of private capital investment in infrastructure and food security, in both developed and emerging economies. South African President Cyril Ramaphosa announced plans to unlock major infrastructure investment in the country. Greg Swenson, Founding Partner at Brigg Macadam joins CNBC Africa for more.
49 per cent of CEOs in 100 countries have a significantly more negative business outlook, than on 1st of March. This is according to a new survey by YPO, the global leadership community of 28 000 Chief Executives. Business leaders in Australia, New Zealand and the United States have the most positive overall business outlook. With leaders in Europe, Latin America and South Asia tipping on the negative side of the scale. Joining CNBC Africa to unpack the survey is Andrea Rademeyer, YPO Member and CEO of Ask Africa.
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.
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.
The media nicknamed him ‘Bulldozer’, or ‘Tingatina’ in Swahili, initially because of his directives as the minister of public works, but the name has stuck due to his aggressive ways as president.
President Buhari, this is an urgent call from those who gave you this mandate: tell the armed forces to stand down and stop shooting at or killing unarmed Nigerians. Undeniably, the lives of young Nigerians are being shed in hopes of a better Nigeria, which you chose to serve.
The mood, and climate of protest changed abruptly, and devastatingly with that diabolical intrusion. For the first time, anger and nihilism entered the lists, moving to dominate emotions.
COMMENT: The latest in the land story in Zimbabwe is a victory for compromise – so says the finance minister.
By Mthuli Ncube In 2000, Zimbabwe embarked on an historic Land Reform Programme; the resettling of black families on...