South African feed and poultry company Quantum Foods said on Thursday half-year earnings could fall as much as 38%, partly due to a margin squeeze in its egg business because of lower selling prices.
Africa's largest telecoms company says it's monitoring the impact of Covid-19 lockdowns in its key markets, which include South Africa and Nigeria. It’s also grappling with the crash in the oil price which has soured investor sentiment towards the stock. MTN CFO, Ralph Mupita joins CNBC Africa for more.
“At the moment, we are trying to find out this information and we don’t have the actual number. What we can say, without any doubt, there is an enormous gap in the number ventilators needed in Africa.”
Ethiopia has been coordinating the distribution of Jack Ma`s gift of essential supplies across the continent. The country is also looking to tap into the capability of traditional medicines to tackle COVID-19. Mikael Arage, Technology and Politico-economical Analyst joins CNBC Africa for more.
International home sharing company, AirBnb has committed $250 million to hosts who lost income from to cancellations due the Covid-19 pandemic; now that Rwanda has just announced a 2 week extension on the national lockdown, what will the local hospitality sector do to cope with the halted activity? And how will it recover from bookings lost for months to come? Nsengiyumva Barakabuye, Chairman of the Rwanda Hospitality Association joins CNBC Africa for more.
South Africa needs to conduct “hundreds of thousands” of coronavirus tests to understand the true number of infections and halt their spread, Health Minister Zweli Mkhize said on Wednesday.
Fitch Ratings say the credit profiles of Nigerian banks faces severe risks from the slump in oil prices and a disruption in the operating environment due to the coronavirus pandemic. Fitch noted that the weighted -average cost of risk for Nigerian banks its rates rose by 200 basis points during the 2015 oil price shocking they do not rule out a similar increase this year. Mahin Dissanayake, Senior Director at Fitch Ratings joins joins CNBC Africa for more.
South African Transport Minister Fikile Mbalula has rescinded his earlier decision of allowing taxis to carry a full load of passengers.