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<p>CNBC Africa puts the spotlight on tech brands that are dominating emerging markets and are showcasing their support for football through their collaborations with the Confederation of African Football (CAF). TECNO, an innovative tech brand, has been revolutionising the digital experience with its smartphones in Pakistan, Bangladesh, and Africa. Its holding company is Transsion Holdings. Zanele Morrison&#8217;s three guests joined her from Singapore, Shanghai, and Cairo to speak about their role in the official sponsorship of CAF.</p>


Tech & Football: Collaborating football and technology

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<p>Fitch Ratings has upgraded Cote d&#8217;Ivoire&#8217;s Long-Term Foreign-Currency Issuer Default Rating to &#8216;BB-&#8216; from &#8216;B+&#8217;, with a Stable Outlook.</p>


Fitch upgrades Cote d’Ivoire’s foreign currency IDR to BB-

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<p>As countries in Africa grapple with the impact of the COVID-19 pandemic, the Presidency of Cote d’Ivoire and the World Bank plan to host a high-level meeting this week where 21 African presidents are expected to attend. The focus of the meeting will be the importance of an ambitious 20th replenishment of the International Development Association. Abdourahmane Cisse, Secretary General of the Presidency of Cote d’Ivoire joins CNBC Africa for more.</p>


African leaders unite to support IDA20 replenishment

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<p>The International Monetary Fund says it expects Cote d’Ivoire’s economy to grow about six per cent this year. Meanwhile, the government has issued a decree that seeks to ensure that 20 per cent of cocoa purchased by multinational companies are fulfilled by local companies. Ayalanesh Tafesse, Country Risk Analyst at Rand Merchant Bank joins CNBC Africa to explore how Cote d’Ivoire is working to recover from the Covid-19 pandemic.</p>


Assessing Cote d’Ivoire’s pandemic recovery efforts

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<p>On Saturday, Cote d&#8217;Ivoire will head to the polls as President Ouattara seeks a third term in office in an election already marred by pre-vote protest and crisis. Joining CNBC Africa’s Kenneth Igbomor to delve into conversations surrounding the election are; Stephane Hie, Head of Asset Management at Hudson and Co and Emmanuel Odiaka, Managing Director and CEO of ECOB Capital.</p>


Cote d’Ivoire polls set for Saturday as Ouattara seeks 3rd term

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<p>The new president of the Seychelles is expected to be sworn in today, after securing the seat in the country’s Presidential election.</p>


Seychelles opposition candidate wins presidential election

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<p>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.</p>


Protests in Nigeria & Cote d’Ivoire threaten to slow economic activity

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<p>The swearing-in ceremony for the newly re-elected President of the African Development Bank, Akinwumi Adesina has been concluded in Abidjan Cote div’oire. Chamberlain Peterside, CEO of Xcellon Capital Advisors joins CNBC Africa to examine Nigeria’s economic prospects and the role of development banks in building resilient economies on the continent.</p>


#AfDBAM2020: The role of development banks in building resilient African economies

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<p>For weeks, protesters have taken to the streets in Cote d’Ivoire moving against President Alassane Ouattara&#8217;s quest for run for a third term in the October 31st polls.</p>


How Cote d’ Ivoire’s election tensions impact country’s economic outlook

How Cote d’ Ivoire’s election tensions impact the country’s economic outlook

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<p>For weeks, protesters have taken to the streets in Cote d’Ivoire moving against President Alassane Ouattara&#8217;s quest for run for a third term in the October 31st polls. According to reports, the protests have led to loss of lives. Ayalanesh Tafesse, Country Risk Analyst at Rand Merchant Bank joins CNBC Africa’s Christy Cole to discuss the risks these events possess to Cote d’Ivoire’s economy.</p>


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<p>The Economic Community of West African States has suspended Mali over the ousting of its President Boubacar Keita on Tuesday. Meanwhile, Soldiers who staged Keita’s removal and forced resignation have said they plan to form a civilian transitional government that will organise new elections. In neighbouring Cote d&#8217;Ivoire protesters have continued to march against President Alassane Ouattara’s third term bid. Nonyane Gaimin, Macro Adviser and Strategist at K-Frontiers Solutions joins CNBC Africa for more.</p>


K-Frontiers Solutions on West Africa’s economic outlook

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<p>A one-day summit by West African leaders from Nigeria, Ghana, Cote d’Ivoire, Senegal and the Niger Republic ended in a stalemate after the leaders met with Mali’s President Ibrahim Boubacar Keita and Muslim Cleric Mahmoud Dicko and other opposition leaders to negotiate an end to the political crisis in the country. Protesters took to the street on the 5th of June demanding a better economy, an end to corruption, a stronger fight against jihadist groups and irregularities in the local election results. Dennis Amachree, CEO of Zoomlens Security Solutions joins CNBC Africa for more.</p>


Mali political crisis: No deal reached after Five ECOWAS leaders intervene

Mali political crisis: No deal reached after five ECOWAS leaders intervene

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<p>Cote d&#8217;Ivoire&#8217;s Vice President, Daniel Kablan Duncan has resigned just days after the death of Prime Minister, Amadou Gon Coulibaly. Ayalenesh Tafesse, Country Risk Analyst at Rand Merchant Bank joins CNBC Africa to assess the impact of the Covid-19 pandemic and recent events on cocoa-producing country&#8217;s growth trajectory.</p>


Cote d’Ivoire’s prime minister resigns due to personal reasons


<p>A tribute to Cote d&#8217;Ívoire Prime Minister Amadou Gon Coulibaly by Akinwumi A. Adesina, Président, African Development Bank</p>



<figure class="wp-block-table"><table><tbody><tr><td></td></tr></tbody></table></figure>



<figure class="wp-block-table"><table><tbody><tr><td>July 8 was all like every normal day, focused on work. I had no inkling there would be a storm, even though we have weathered many storms and floods in Abidjan in recent times. Like a jolting bolt of thunder, everything changed when my wife, Grace, called my attention to a news item that the Prime Minister Amadou Gon Coulibaly had died. I told her this couldn’t be true as he just came back and as far as I knew he was fine.<br><br>I quickly went to look at the news. I had not seen any official confirmation. I made frantic calls. Alas! Amadou Gon had died indeed. What a tragedy! This was a storm with massive lightening like no other. I couldn’t control my sadness. This man who had served his nation so loyally and with such dignity has passed on, while at work.<br><br>My thoughts went to his dear wife and family who have been thrown into sorrow, suddenly. My mind went to President Alassane Ouattara, to whom he was a beloved son, a loyal partner and confidant for some 30 years. My mind went to the government of Côte d’Ivoire, and the nation where I lived for 5 years in the 1990s and now for another 5 years so far as President of the African Development Bank. A beautiful nation whom Amadou Gon served dutifully, diligently, passionately and faithfully until his last breath.<br><br>Amadou Gon was an exemplary leader. He was my friend. I remember calling him while in Paris. I was concerned about him and although we had exchanged messages, I still was not satisfied. I wanted to hear his voice. We spoke. I was very happy he was well.<br><br>Amadou Gon deserved to be well. He was such a great champion of programs to accelerate the development of his country. He carried the vision of the President and the government wholeheartedly into every meeting, into every discussion. We met very often, and every time I was always amazed at how this very humble and serious minded public servant always put the development of his country first.<br><br>He worked very closely with the African Development Bank. He visited the Bank several times and took great interest in all matters that affect the Bank. He worked so hard with the Bank and several development partners to bring life to the social development policy of the government.<br><br>A humble man. A selfless man. A faithful man. A shining light. We met and spoke together on several forums around the world: on the plane, at airports, in high level forums and summits. My impression of him was the same: calm; wise; insightful. A man of few words, whose every word was always well honed for impact. He spoke always from his heart. An he had a heart of gold.<br><br>My heartfelt condolences go to his dear wife and family, and his aged mother. May God comfort them. My heartfelt condolences go to President Allassane Ouattara, President of the Republic of Côte d’Ivoire. Mr. Président, you have lost your closest ally and confidant, who served you and his nation faithfully until his last breath, working for the good of Côte d’Ivoire. May God comfort you, the government and good people of Côte d’Ivoire.<br><br>My dear brother, Amadou Gon, thank you for your friendship. I was looking forward to us meeting again, in our usual warm brotherly embrace, to chat on your favorite topic: development of Côte d’Ivoire. But Alas! That is no longer to be. I guard emotions and memories of your life &#8211; your great life; and dedication and contributions to your nation. Thank you Prime Minister Amadou Gon Coulibaly. Thank you my dear friend and brother, Amadou Gon. Rest well. You will be sorely missed.</td></tr></tbody></table></figure>


PRST Adesina (1)

Akinwumi Adesina pays tribute to  Prime Minister Amadou Gon Coulibaly

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<p>The International Monetray Fund says the deteriorating macroeconomic outlook and fiscal policy response to mitigate the impact of the COVID-19 pandemic on Côte d’Ivoire is generating fiscal pressures and creating an urgent Balance of Payment need. Stanislas Zeze, Chairman and CEO of Bloomfield Investment Corporation joins CNBC Africa to explore ways the Ivorian government can navigate its economy through this pandemic.</p>


COVID-19: Navigating Côte d’Ivoire’s economy through pandemic


<p>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%. </p>



<p>Preliminary estimates point towards the weakest continental growth
since the early 1990s.</p>



<p>The continent’s three largest economies, South Africa, Nigeria and
Egypt – together accounting for just under 60% of African GDP – will see a
significant weakening in economic growth this year. </p>



<p>This slowdown in economic activity will permeate through the
continent as these countries are salient drivers behind economic growth in
their respective regions.&nbsp; </p>



<p>In addition to the indirect effects stemming from weakness in the
largest economies, other African nations will also have to deal with a much
more volatile external economic environment. </p>



<p>The collapse in tourism will weigh on economic growth in many
countries (particularly the island nations, Morocco, Egypt, and Tunisia), while
a reduction in both export demand and commodity prices will weaken fundamentals
in Africa’s more export-oriented economies (most notably the oil producing
nations).&nbsp; </p>



<p>The escalation in the Covid-19 outbreak in Africa implies there is
a lot more at stake than foregone economic production. </p>



<p>Most African countries will not be able to effectively implement
the severe restrictions on movement that we have seen globally. The
impracticality of implementing widespread self-quarantine in shantytowns or
informal settlements means that this will not be an option. Mismanagement of
the situation could lead to human costs far exceeding economic losses.</p>



<p>Tourism is a key forex generator and employment creator across the
continent. Severe travel restrictions, border closures and lockdowns in key
source markets will result in a collapse in tourism during the first half of
the year, at least. </p>



<p>Domestic and intra-Africa tourism have been key drivers behind
growth in overall tourism in recent years, but as more Covid-19 cases are
confirmed on the continent we will see an increase in domestic travel
restrictions and regional border closures. </p>



<p>The island nations will be hardest hit, but the mainland will feel
the effects in the North (particularly in Tunisia, Morocco and Egypt), South
(Namibia, Botswana), East (Tanzania, Rwanda, Kenya) and West (Côte d’Ivoire,
The Gambia, Cameroon). </p>



<p>Low barriers to entry have led to tourism becoming a key source of
employment. The island nations in particular are dependent on tourism to
generate employment, most notably the Seychelles (where tourism accounts for
around 44% of formal employment), Cape Verde (39%) and Mauritius (19%). </p>



<p>Tourism has also become a salient job creator on the African
mainland, and a slump in the sector could result in rapid job losses given the prevalence
of micro- and small-sized enterprises operating in the sector.&nbsp; </p>



<p>The slowdown in global economic activity will translate into a
reduction in demand, while lower commodity prices will compound this negative
effect on exports. </p>



<p>Africa’s energy exporters will struggle to come to terms with a
much more hostile external environment. Countries such as Nigeria, Angola and
Gabon are highly dependent on oil exports not only to generate forex but also
to fund government spending. </p>



<p>Countries including Namibia, Zambia, Botswana and Mozambique are
dependent on mineral exports for the same reasons. </p>



<p>Generally speaking, countries that have a GDP structure orientated
towards exports will feel the pain of a weaker external environment.</p>



<p>Lower international energy prices will have a detrimental impact
on the continent’s oil exporters, but many other countries stand to benefit. </p>



<p>A reduction in the oil imports bill will have a favourable impact
on external balances while also containing consumer price inflation. Lower
inflation will support consumer spending at a time when a weak external
environment increases the importance of domestic consumption in driving overall
economic growth.&nbsp; </p>



<p>The South African economy had already entered 2020 on a very
fragile footing before the dramatic external developments related to the
Covid-19 pandemic. NKC forecasts a 5% real GDP contraction this year. Domestic
policy uncertainty and supply-side constraints have now been accompanied by a
deterioration in global business sentiment and a drop in demand for South
African goods, all weighing on the country’s economic recovery prospects. </p>



<p>In addition, the three-week long nationwide lockdown, which
commenced on March 27, will result in a collapse in consumer spending. The
outlook could deteriorate further if the lockdown is extended.&nbsp; </p>



<p>The coronavirus has not as yet, as far as we know, taken
significant hold in Nigeria. However, the weaker external environment and more
specifically, the recent collapse in international oil prices, will have a
marked impact on the economy’s performance this year.</p>



<p>Lower oil prices will result in tighter FX liquidity, rising
inflation, falling investment, lower fiscal expenditure and easing consumption
growth. </p>



<p>As a result, NKC has revised its growth projection sharply lower
to 1.2% this year, with risks still firmly stacked to the downside. </p>



<p>A more severe domestic outbreak of Covid-19 would cause
significant disruption to daily economic activity, particularly when
considering the population density in the country’s biggest cities. </p>



<p>Despite the Egyptian government’s efforts, the number of confirmed
Covid-19 cases continues to rise considerably. </p>



<p>The president has urged all citizens to stay at home for a two-week
period and a night-time curfew has been declared, while the possibility of a
formal lockdown in some regions is also circulating in local media. </p>



<p>The fiscal deficit is set to widen significantly over fiscal year
(FY) 2019/20 and FY 2020/21 following the announcement of a stimulus and
bail-out package to the value of approximately E£100bn. </p>



<p>Government revenues already came in far below budget during the
first half of FY 2019/20 and will take a massive knock during the second half
of the fiscal year, which ends in June. </p>



<p>Lower economic growth reflects weaker consumption, investment, and
exports. </p>



<p>The recently announced fiscal stimulus measures, however, should
prevent a collapse in domestic demand. </p>



<p>The economic impact of the coronavirus epidemic will be
considerable, but the human costs will be higher yet. </p>



<p>As of end March South Africa remains the hardest-hit African
country from a confirmed-case perspective and the expected economic hardship
reflects this. </p>



<p>However, South Africa is also arguably the best-placed country on
the continent to deal with the pandemic. While it does have a large
immuno-compromised population due to its struggles with HIV, the country might
be able to leverage its sophisticated private healthcare sector to supplement
inadequate public services. </p>



<p>Most other African nations will not have this benefit. </p>



<p>Confirmed Covid-19 cases will undoubtedly increase across the
continent in coming weeks, and timely and effective government responses will
be required to ensure that this does not become another African tragedy.</p>



<p><em>Jacques Nel – Head of Africa Macro</em></p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


Clarification on COVID-19 “hotspots” as SA moves to level 3 lockdown

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

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Telecommunication’s company Sonatel printed a 6.4 per cent increase in its 2019 revenues. Myriam Ouattara, Portfolio Manager at EDC Asset Management joins me from Cote d’Ivoire to breakdown the earnings of some listed companies on the BRVM bourse.</p>


Cote D’Ivoire

Tech & Football: Collaborating football and technology

Fitch upgrades Cote d’Ivoire’s foreign currency IDR to BB-

African leaders unite to support IDA20 replenishment

Assessing Cote d’Ivoire’s pandemic recovery efforts

Cote d’Ivoire polls set for Saturday as Ouattara seeks 3rd term

Seychelles opposition candidate wins presidential election

Protests in Nigeria & Cote d’Ivoire threaten to slow economic activity

#AfDBAM2020: The role of development banks in building resilient African economies

How Cote d’ Ivoire’s election tensions impact the country’s economic outlook

How Cote d’ Ivoire’s election tensions impact country’s economic outlook

K-Frontiers Solutions on West Africa’s economic outlook

Mali political crisis: No deal reached after five ECOWAS leaders intervene

Cote d’Ivoire’s prime minister resigns due to personal reasons

Akinwumi Adesina pays tribute to Prime Minister Amadou Gon Coulibaly

COVID-19: Navigating Côte d’Ivoire’s economy through pandemic

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

Breaking down earnings from BRVM Bourse

News Tips

Advertise With Us

Cote D’Ivoire

Tech & Football: Collaborating football and technology

Fitch upgrades Cote d’Ivoire’s foreign currency IDR to BB-

African leaders unite to support IDA20 replenishment

Assessing Cote d’Ivoire’s pandemic recovery efforts

Cote d’Ivoire polls set for Saturday as Ouattara seeks 3rd term

Seychelles opposition candidate wins presidential election

Protests in Nigeria & Cote d’Ivoire threaten to slow economic activity

#AfDBAM2020: The role of development banks in building resilient African economies

How Cote d’ Ivoire’s election tensions impact the country’s economic outlook

How Cote d’ Ivoire’s election tensions impact country’s economic outlook

K-Frontiers Solutions on West Africa’s economic outlook

Mali political crisis: No deal reached after five ECOWAS leaders intervene

Cote d’Ivoire’s prime minister resigns due to personal reasons

Akinwumi Adesina pays tribute to Prime Minister Amadou Gon Coulibaly

COVID-19: Navigating Côte d’Ivoire’s economy through pandemic

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

Breaking down earnings from BRVM Bourse

News Tips

Advertise With Us

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