Tag: coronavirus pandemic
Luno, South Africa’s largest cryptocurrency exchange has gone global. The company has been acquired by Digital Currency Group, a US based blockchain investor. Luno began in South Africa in 2013, and now has five million customers in over 40 countries. Marcus Swanepoel, Co-Founder and CEO of Luno joins CNBC Africa for more.
The RMB Business Confidence Index rebounded to 24 points in the third quarter. This is after falling from an all-time low of five in the second quarter. Of the five sectors making up the Index, the rebound in wholesale confidence was the largest. And this was due to a strong agricultural sector and international trade picking up. Ettienne Le Roux, Chief Economist at Rand Merchant Bank joins CNBC Africa for more.
TUNIS (Reuters) - Tunisia’s tourism-dependent economy shrank 21.6 pct in the second quarter of 2020, compared to the same period last year, due to the coronavirus crisis, the state statistics...
“We did not have any money, and we needed to survive,” she said. “When it became apparent that hunger would kill us instead of the virus, we turned to our people back in the village.”
GENEVA/ZURICH (Reuters) - The new coronavirus pandemic raging around the globe will worsen if countries fail to adhere to strict healthcare precautions, the World Health Organization (WHO) warned on Monday.
A day after Finance minister Tito Mboweni delivered his crucial supplementary budget speech, the markets are down, the rand dollar exchange is taking a hit and the economy looks bleak at best. So where to now? Arthur Kamp, Chief Economist at Sanlam Investments joins CNBC Africa for more.
Next week expects a crucial budget that could decide the trajectory of the post Covid-19 economy. Finance Minister Tito Mboweni will deliver his emergency budget on Wednesday the 24th. Meanwhile there’s a budget issue. The South African Reserve Bank is to resist the call from government to finance it growing budget deficit with aggressive quantitative easing. According to Governor Lesetja Kganyago it could add even more strain on the National Treasury and the large-scale quantitative easing could bankrupt the central bank. Maarten Ackerman, Chief Economist for Citadel joins CNBC Africa for more.
Transport minister Fikile Mbalula announced that government will give the taxi industry a once-off R1 billion ‘ex gratia’ payment to help buffer it against the lock-down. Mbalula adds that government is still to debate changing regulations to allow debating changes to the country’s lock-down regulation to allow for 100 per cent capacity in taxis. Maroba Maduma, Communications Executive at SA Taxi joins CNBC Africa for more.
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