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<p>Thandeka Chauke, Head of the Statelessness Project at Lawyers for Human Rights spoke with CNBC Africa on inclusion of undocumented migrants in the vaccine rollout.</p>


Lawyers for Human Rights call for inclusion of undocumented migrants in vaccine rollout

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<p>Over the past 18 months, Omnia executed a strategy to stabilise its financial position and renew its operations, while exploring new growth opportunities. This strategy has yielded good results, with the chemicals group reporting a 228 per cent increase in headline earnings per share. Omnia CEO, Seelan Gobalsamy joins CNBC Africa for more.</p>


Omnia impresses with strong results

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<p>The Financial Sector Conduct Authority has published a draft Declaration classing crypto assets, as financial products under the Financial Advisory and Intermediary Services Act.</p>


Crypto assets declared financial products under the FAIS Act

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<p>Finance into renewable energy continues to be off-track to meet 2030 targets. Under-investment in clean energy puts millions at risk, as they continue to be left behind in the energy transition. Joining CNBC Africa to give insight into new research from Sustainable Energy for All is Damilola Ogunbiyi, UN Special Representative for Sustainable Energy.</p>


How under-investment in clean energy will hit the poor hardest

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<p>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.</p>


IATA downgrades traffic forecast for Africa

IATA downgrades traffic forecast for Africa, a slow & painful recovery for the aviation industry expected


<p>WASHINGTON (Reuters) &#8211; The World Bank said on Wednesday that the coronavirus pandemic could push as many as 150 million people into extreme poverty by the end of 2021, wiping out more than three years of progress in poverty reduction.</p>



<p>Releasing its flagship biennial report on poverty and shared prosperity, the multilateral development lender said that an additional 88 million to 115 million people will fall into extreme poverty &#8211; defined as living on less than $1.90 a day -in 2020. The report said this could grow to 111 million to 150 million by the end of 2021.</p>



<p>That would mean that 9.1-9.4% of the world’s population would be living under extreme poverty this year, about the same as 2017’s 9.2% and representing the first rise in the extreme poverty percentage in about 20 years.</p>



<p>The 2019 extreme poverty rate was estimated at about 8.4% and had been expected to drop to 7.5% by 2021 before the coronavirus pandemic. The report said that without swift, substantial policy actions, a longstanding goal of cutting the rate to 3% by 2030 looked out of reach.</p>



<p>“The pandemic and global recession may cause over 1.4% of the world’s population to fall into extreme poverty,” World Bank President David Malpass said in a statement, calling it a “serious setback to development progress and poverty reduction.”</p>



<p></p>



<p>The report found that many of the new extreme poor are in countries that have high poverty rates already, but around 82% of these are in middle-income countries, where the poverty line is defined as income of $3.20 a day for low-middle-income countries and $5.50 a day for upper-middle-income countries.</p>



<p>While extreme poverty has been concentrated in rural areas in the past, the World Bank report found that increasing numbers of urban dwellers have been thrown into extreme poverty as jobs dry up from coronavirus lockdowns and reduced demand.</p>



<p>Sub Saharan Africa has the highest concentration of those living on less than $1.90 a day, and could see an increase of over 50 million people by 2021 compared to pre-coronavirus estimates. About 42% of the region’s population could be living under extreme poverty by 2021 versus a pre-COVID estimate of 37.8%, the study showed.</p>



<p>The coronavirus also has stagnated “shared prosperity,” defined as growing income for the poorest 40% of a country’s population. The World Bank said that from 2012 to 2017, income rose for this group by an average of 2.3% in 74 of 91 economies for which data was available.</p>



<p></p>



<p>The COVID-19 crisis could now reduce income for the poorest 40%, increasing income inequality and reducing social mobility, the bank said.</p>



<p>To get back on a track of poverty reduction, countries will need collective action to control the virus, provide support for households and build more resilient economies once the pandemic subsides, the World Bank said.</p>



<p>“Countries will need to prepare for a different economy post-COVID, by allowing capital, labor, skills and innovation to move into new businesses and sectors,” Malpass said.</p>


CDC coronavirus

Coronavirus may push 150 million people into extreme poverty: World Bank

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<p>Remgro has just released its full year results. In the company’s trading statement 2 weeks ago, headline earnings were projected to drop between 65 per cent and 75 per cent. This is with the negative impact caused by COVID-19 and lockdown measures. Remgro CEO, Jannie Durand joins CNBC Africa for more.</p>


Remgro sees decline in headline earnings on COVID-19 impact

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<p>Logistics and transport group OneLogix has reported a 46 per cent drop in headline earnings. The company has not declared a dividend, after reporting a profit decline for the first time in 11 years. And this is due to the uncertain economic environment created by COVID-19. OneLogix CEO, Ian Lourens joins CNBC Africa for more.</p>


OneLogix reports profit decline for the first time in 11 years

<figure class="wp-block-image alignwide size-large"><img decoding="async" loading="lazy" width="1110" height="624" src="https://www.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-1110x624.jpg" alt="" class="wp-image-381808" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-1110x624.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-696x392.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View-1068x601.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Cape_Town_Stadium_Aerial_View.jpg 1920w" sizes="(max-width: 1110px) 100vw, 1110px" /><figcaption>Aerial view of Cape Town Stadium taken from Signal Hill.</figcaption></figure>



<p>President Cyril Ramaphosa addressed the nation at 19:00 CAT today, Wednesday, 16 September 2020, on developments in South Africa’s response to the COVID-19 pandemic. The President announced that South Africa will go into alert level 1 as of Sunday 20th September 2020.</p>



<p>&#8220;This move recognizes that levels of infection are relatively low and that there is sufficient capacity in our health system to manage the current need,&#8221; Ramaphosa said.</p>



<h2 class="wp-block-heading">International travel</h2>



<p>President Ramaohosa announced that South Africa will gradually ease restrictions on international travel as of the 1st of October 2020. Travelers to the country will be granted entry through one of three airports &#8211; OR Tambo, King Shaka International, and Capetown International. Travelers arriving into South Africa must have a negative COVID PCR test not older than 72 hours and will be required to install a contact tracing app.</p>


		
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<p>&#8220;We will be allowing travel into and out of South Africa for business, leisure and other travel with effect from 1 October 2020,&#8221; Ramaphosa said.</p>



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Breaking SA: Moves to alert level 1, International travel to re-start on October 1st

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<p>In its interim results, Brimstone Investment reported a loss of R129.6 million. This is with the impact of COVID-19 on the company’s subsidiaries and investee companies.</p>


Brimstone CEO Mustaq Brey on H1 results, why now is the time to buy local

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<p>All eyes in South Africa are on the ANC, as the governing party scrambles to reign in corruption. President Cyril Ramaphosa committed to rooting out corruption from the beginning of his term. The theft of COVID-19 relief funds has put pressure for him to fulfil his promise and to hold perpetrators accountable. Joining CNBC Africa to provide insights into Ramaphosa’s attempts to clean up the ANC is Daniel Silke, Director at Political Futures Consultancy.</p>


Why this analyst believes Ramaphosa emerged stronger from the ANC NEC meeting

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<p>The increase of digital transactions in South Africa, has given rise to fears of fraud. To mitigate those risks, Standard Bank has bought a 35 per cent stake in Trade Safe. The fintech company provides a platform to keep a buyer’s funds safe, until they receive the goods or services. Joining CNBC Africa to discuss this deal is Kuben Chetty, Head of Client Solutions at Standard Bank and Jethro O’Brien, CEO of TradeSafe.</p>


Standard Bank acquires 35% stake in fintech Trade Safe

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<p>Businesses are looking at more cost-efficient services that also increase their productivity levels. With this in mind, African Rainbow Capital has made an additional investment in Linebooker.</p>


ARC & Linebooker investment: What’s in it for investors?

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<p>The Financial Sector Conduct Authority has slapped Tongaat Hulett with a R20 million fine. This is after an investigation found significant accounting irregularities. Joining CNBC Africa to give insight into the investigation is Brandon Topham, Divisional Executive for Enforcement at the Financial Sector Conduct Authority.</p>


FSCA slaps Tongaat Hulett with fine for accounting irregularities

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<p>Famous Brands is selling its 51 per cent controlling stake in Tashas, to the founding family. This is in line with the group’s three year strategy to focus less on its signature brands portfolio. The founding family of Tasha’s currently holds the remaining 49 per cent. Tashas Founder, Natasha Sideris joins CNBC Africa for more.</p>


Café brand Tashas buys back controlling stake from Famous Brands

Café brand Tashas buys back controlling stake from Famous Brands, eyes IPO in 5 years


<p>JOHANNESBURG (Reuters) &#8211; South Africa’s Impala Platinum’s (Implats) said on Tuesday that charges relating to contraventions of lockdown rules against the chief executive of its Rustenburg operations had been dropped.</p>



<p>“All criminal charges in the matter against Impala as represented by Mark Munroe have been withdrawn,” said Implats in a statement after Munroe appeared in court on Monday.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="229" height="220" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/download-1.jpg" alt="" class="wp-image-379302"/><figcaption>Mark Munroe</figcaption></figure>



<p>A case was laid against Munroe in April for allegedly contravening South Africa’s lockdown rules by calling non-essential workers back to work.</p>



<p>A lockdown that started on March 27 ordered most underground mines and furnaces to be put on care and maintenance. The government has since eased regulations, allowing all miners to operate at 100% from June.</p>



<p>The miner, which has denied any wrongdoing, expressed its support for Munroe and its management teams, saying it will continue to operate in a legally compliant and responsible manner.</p>



<p>An Implats spokesman said the court did not provide details on why the charges had been dropped.</p>



<p>South Africa is the world’s biggest producer of chrome ore, accounts for around 70% of global mined platinum supply, and is a major producer of other minerals and metals.</p>


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Charges of contravening lockdown provisions against Implats executive dropped

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<p>More than half of South Africa&#8217;s youth don&#8217;t have a job. Government has been trying to fix youth unemployment, but with little success. Danny Tong, CEO of InvesTong Group joins CNBC Africa for more.</p>


covid-19 lockdown

Lawyers for Human Rights call for inclusion of undocumented migrants in vaccine rollout

Omnia impresses with strong results

Crypto assets declared financial products under the FAIS Act

How under-investment in clean energy will hit the poor hardest

IATA downgrades traffic forecast for Africa, a slow & painful recovery for the aviation industry expected

Coronavirus may push 150 million people into extreme poverty: World Bank

Remgro sees decline in headline earnings on COVID-19 impact

OneLogix reports profit decline for the first time in 11 years

Breaking SA: Moves to alert level 1, International travel to re-start on October 1st

Brimstone CEO Mustaq Brey on H1 results, why now is the time to buy local

Why this analyst believes Ramaphosa emerged stronger from the ANC NEC meeting

Standard Bank acquires 35% stake in fintech Trade Safe

ARC & Linebooker investment: What’s in it for investors?

FSCA slaps Tongaat Hulett with fine for accounting irregularities

Café brand Tashas buys back controlling stake from Famous Brands, eyes IPO in 5 years

Charges of contravening lockdown provisions against Implats executive dropped

InvesTong CEO on how to leverage technology to spur entrepreneurship

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covid-19 lockdown

Lawyers for Human Rights call for inclusion of undocumented migrants in vaccine rollout

Omnia impresses with strong results

Crypto assets declared financial products under the FAIS Act

How under-investment in clean energy will hit the poor hardest

IATA downgrades traffic forecast for Africa, a slow & painful recovery for the aviation industry expected

Coronavirus may push 150 million people into extreme poverty: World Bank

Remgro sees decline in headline earnings on COVID-19 impact

OneLogix reports profit decline for the first time in 11 years

Breaking SA: Moves to alert level 1, International travel to re-start on October 1st

Brimstone CEO Mustaq Brey on H1 results, why now is the time to buy local

Why this analyst believes Ramaphosa emerged stronger from the ANC NEC meeting

Standard Bank acquires 35% stake in fintech Trade Safe

ARC & Linebooker investment: What’s in it for investors?

FSCA slaps Tongaat Hulett with fine for accounting irregularities

Café brand Tashas buys back controlling stake from Famous Brands, eyes IPO in 5 years

Charges of contravening lockdown provisions against Implats executive dropped

InvesTong CEO on how to leverage technology to spur entrepreneurship

News Tips

Advertise With Us

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