Just last week finance minister Tito Mboweni outlined the emergency budget to nurse South Africa through the Covid-19 crisis. A big part of this budget was a plan for South Africa to get its debt under control within four years. Fitch Ratings, the agency that downgraded South Africa in April doubts whether South Africa can do this. CNBC Africa’s Chris Bishop spoke to Jan Friederich, Senior Director of Fitch Ratings for more.
The World Bank says the collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.
Vetiva Capital Management says although Nigeria’s total debt to GDP ratio is below the suggested prudential upper band of 40 per cent for developing economies, a higher than projected fiscal deficit, high cost of borrowing and weaker Naira may further limit Nigeria’s fiscal space and reduce the capacity to respond to the Covid-19 crisis. Mosope Arubayi, Chief Economist at Vetiva joins CNBC Africa for more.
The Covid-19 pandemic is making businesses shift their models to working remotely, thereby making authenticated identity increasingly critical to unlock financial inclusion, drive e-commerce and financial services. Esigie Aguele, CEO of Nigerian KYC start-up; Verifyme joins CNBC Africa for more.
Global engineering talent company, Andela is looking to double its talent pool and is ready to accept engineers from all African countries. Omowale David-Ashiru, Andela’s Vice President for Global Operations joins CNBC Africa for more.
Mozambique is seen as a growth potential for investment opportunities, according to the International Monetary Fund its GDP is predicted at 5.5 per cent in 2020 and inflation projected to remain low, increasing slightly to 5 per cent at the end of the year. Ettiene Erasmus, Entrepreneur of Mozambique Property Developments & Investments joins CNBC Africa for more.
Are Africa’s literary traditions on the wane? Or are we not notiving this generation’s breed of Wole Soyinka and Chinua Achebes? CNBC Africa’s Arnold Kwizera spoke to Comic Republic’s Jide Martin on the future of the industry.
The brewing industry has always attracted double digit growth due to the demand of beer, wine and other spirit drinks. The Covid-19 pandemic has however dealt a hard blow to the industry, with bars and pubs forced to close as part of the measures to curb the spread of the disease. Andrew Cowan, Group Managing Director and CEO, East African Breweries Limited joins CNBC Africa for more.