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<p>As investors face an increasingly challenging local economic landscape, banks look to introduce innovative solutions aimed at expanding investment opportunities. This episode of Focus On looks at Nedbank Private Wealth&#8217;s new offering the Actively Managed Certificate (AMC), which gives South African investors a unique way to access international markets.</p>


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Focus On: Nedbank lists globally Actively Managed Certificate

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<p>Electric vehicles, autonomous driving and sustainability. These are some of the trends moving the automotive industry worldwide. Joining CNBC Africa to map out how these trends navigating Africa’s car market are Ndia Magadagela, CEO, MAXUS Electric Vehicles; Amith Singh, National Manager: Manufacturing, Nedbank and Adrian Hammond, Mining Equities Analyst, Standard Bank.</p>


The Power Table: The future of EVs

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<p>So how much has the violence and looting we have seen since late last week cost the economy? CNBC Africa is joined by Nicky Weimar, Chief Economist at Nedbank and Andre Cilliers Currency strategist at TreasuryONE.</p>


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How the on-going civil unrest threatens economic recovery in South Africa

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<p>Nedbank Economist, Johannes Khosa joins CNBC Africa to review the mining production and sales and retail trade sales figures to be released this week.</p>


SA retail sales & mining stats out this week

SA retail sales & mining stats out this week, here’s what to expect

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<p>South Africa&#8217;s economy has not been able to realise its full economic potential, largely due to power supply challenges caused by Eskom. To improve the situation, Energy Minister Gwede Mantashe announced the winning projects for emergency power procurement. Joining CNBC Africa to unpack what this means is Daniel Zinman, Head of Power &#038; Infrastructure Sector Solutions at RMB &#038; Amith Singh, Head of Energy Finance at Nedbank.</p>


Unpacking SA’s energy plans & the role of banks

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<p>2020 has been an uphill battle for the financial services sector with the last of the big four banks, Nedbank reporting 56 per cent dive in headline earnings for the year ended December 2020, and a 3.5 per cent drop in revenue. But they insist they have managed to maintain profitability. Nedbank CEO, Mike Brown joins CNBC Africa for more.</p>


Nedbank CEO Mike Brown reflects on difficult year

Nedbank CEO Mike Brown reflects on difficult year, calls for speedy rollout of vaccines

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<p>Banks are under pressure right now &#8211; cutting earnings, losing deposits, and burdened by bad debt. Nedbank is the latest to release results, reporting an almost 70 per cent loss in interim earnings. Is the worst over? The markets seem to doubt it. Nedbank CEO Mike Brown joins CNBC Africa for more.</p>


Nedbank CEO on COVID-19 impact & the need for swift reforms to rescue SA’s economy


<p>JOHANNESBURG (Reuters) &#8211; South Africa’s Nedbank said on Wednesday it was hopeful the worst impacts of the COVID-19 pandemic were in the past and that bad debts would fall in the next six months, after reporting an almost 70% decline in half-year profit.</p>



<p>The lender had in August already flagged a massive hit to its interim profit citing a spike in bad debt charges due to the coronavirus outbreak.</p>



<p>The company on Wednesday warned that profit for the full-year would likely fall by at least 20% and credit losses would be well above what was expected earlier this year, but added that things would improve going forwards.</p>



<p>“We are hopeful that the worst impacts of COVID-19 and the (Great Lockdown Crisis) are behind us and that impairments in the second half will be lower,” Nedbank said in its results statement.</p>



<p>The bank said its headline earnings per share &#8211; the main profit measure in South Africa &#8211; stood at 438 cents ($0.2605) in the six months to June 30 compared with 1,435 cents a year earlier.</p>



<p>That was mainly due to a hefty impairment charge for bad debts, which increased by 202% to almost 7.7 billion rand ($458.46 million), some of which was a provision for potential future losses.</p>



<p>The company said it was in the process of developing new business plans for the next three to five years and would update investors on these, as well as give revised medium-term targets at its full-year results in March.</p>



<p>It added that it was unlikely to declare a dividend as long as the guidance from the central bank, which asked lenders to hold off on paying out to preserve capital, remains in place.</p>



<p>($1 = 16.7955 rand)</p>


NEDBANK CIB logo

S.Africa’s Nedbank hopes worst is over after posting almost 70% profit drop


<p>(Reuters) &#8211; South Africa’s Nedbank Group said on Tuesday Raisibe Morathi has resigned as the chief financial officer (CFO) and executive director of Nedbank Group and Nedbank boards with effect from Sept. 30.</p>



<p>Mike Davis has been appointed as CFO designate with immediate effect and as the group’s CFO from Oct. 1, the financial services provider said in a statement.</p>


South Africa’s Nedbank Group CFO Raisibe Morathi resigns


<p>JOHANNESBURG (Reuters) &#8211; South Africa’s Nedbank Group Ltd said on Thursday that its headline earnings per share (HEPS) for the half year that ended June would fall between 67% and 72% from the same period last year.</p>



<p>HEPS &#8211; the main profit measure for South African companies &#8211; would be between 402 cents and 472 cents, it said.</p>



<p>Nedbank, which is among the top four lenders in the country, will be announcing its half yearly results on Aug. 26.</p>


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S.Africa’s Nedbank says half year profit will fall by over two-thirds

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<p>As the effects of COVID-19 are felt around the world, real estate companies are being impacted in different ways, largely dependent on region and asset class.</p>


Nedbank on Africa’s real estate outlook post-COVID-19


<p>A multi-billion rand loan guarantee scheme announced by South African President Cyril Ramaphosa last month is now officially in operation, with the assistance of the country’s major banks, including FNB, Investec, Standard Bank and Absa.</p>



<p>Ramaphosa announced the scheme as a measure to soften the blow of the <a href="https://www.cnbcafrica.com/videos/2020/05/13/how-african-economies-will-reawaken-from-the-covid-19-nightmare/">coronavirus pandemic </a>and national lockdown on banks as well as their individual and business clients.</p>



<p>The following statement provides more information:</p>



<p><strong>LOAN GUARANTEE SCHEME OPENS</strong></p>



<p>The Covid-19 loan guarantee scheme announced by President Cyril Ramaphosa in April will operate from today, 12 May 2020. The initial set of participating banks (Absa, First National Bank, Investec, Mercantile Bank, Nedbank and Standard Bank) are ready to accept loan applications from eligible businesses which bank with them.</p>



<p>The activation of the loan guarantee scheme follows the finalisation of legal details by National Treasury, the South African Reserve Bank and the Banking Association South Africa.</p>



<p>The loan guarantee scheme is an initiative to provide loans, guaranteed by government, to eligible businesses with an annual turnover of less than R300 million to meet some of their operational expenses. Funds borrowed through this scheme can be used for operational expenses such as salaries, rent and lease agreements, contracts with suppliers, etc.</p>



<p>Government and commercial banks are sharing the risks of these loans. Initially, the National Treasury has provided a guarantee of R100 billion to this scheme, with the option to increase the guarantee to R200 billion if necessary and if the scheme is deemed successful. Eligible businesses should contact their primary or main banker.</p>



<p>More details on the scheme can be found in a Frequently Asked Questions guide posted at <a href="http://www.treasury.gov.za/">http://www.treasury.gov.za/</a>&nbsp; <a href="https://www.resbank.co.za/">https://www.resbank.co.za/</a> Pages/default.aspx and <a href="https://www.banking.org.za/">https://www.banking.org.za/</a>.</p>



<p>Further queries should be directed to the individual banks, which are administering the scheme.</p>



<p>Jointly issued by National Treasury, The South African Reserve Bank and The Banking Association South Africa</p>



<p>Date: 12 May 2020</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>


Here’s how to apply for SA’s COVID-19 loan guarantee scheme

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<p>Nedbank has assured shareholders that they will be paid their final dividend of R6.95 per share later this month. But the bank warned future dividends will be impacted by guidelines from South Africa’s Reserve Bank that dividends and bonuses be put on ice while the country fights the coronavirus. Mike Brown, Nedbank CEO joins CNBC Africa for more.</p>


Nedbank on future of dividends

Nedbank on future of dividends, executive bonuses

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<p>Three of South Africa’s major banks have revealed to CNBC Africa how small businesses can apply for funding from the South Africa Future Trust. This is what they had to say.</p>


SA’s banks reveal how small businesses can apply for the R1bn Oppenheimer fund

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<p>On Friday a few minutes before the clock struck midnight, Moody’s downgrade South Africa to junk. Mike Brown, CEO of Nedbank warns that this will make it increasingly difficult to borrow money around the world and in the COVID-19 era more will be expected from banks.</p>


COVID-19 will see more demand from banks – Nedbank CEO

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<p>Ciko Thomas, Managing Executive of Nedbank Retail &#038; Business Banking joins CNBC Africa for more on what the bank is doing to reduce the burden on its clients.</p>


Nedbank announces measures to cushion its customers against coronavirus

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Nedbank reported a full year headline earnings loss of 7.3 per cent to R12.5 billion which was below its expectations. The group contributed its decline in headline earnings and an unchanged dividend to the South Africa’s current weak trading conditions and its gloomy global outlook. Nedbank CEO, Mike Brown joins CNBC Africa for more.</p>


Nedbank

Focus On: Nedbank lists globally Actively Managed Certificate

The Power Table: The future of EVs

How the on-going civil unrest threatens economic recovery in South Africa

SA retail sales & mining stats out this week, here’s what to expect

Unpacking SA’s energy plans & the role of banks

Nedbank CEO Mike Brown reflects on difficult year, calls for speedy rollout of vaccines

Nedbank CEO on COVID-19 impact & the need for swift reforms to rescue SA’s economy

S.Africa’s Nedbank hopes worst is over after posting almost 70% profit drop

South Africa’s Nedbank Group CFO Raisibe Morathi resigns

S.Africa’s Nedbank says half year profit will fall by over two-thirds

Nedbank on Africa’s real estate outlook post-COVID-19

Here’s how to apply for SA’s COVID-19 loan guarantee scheme

Nedbank on future of dividends, executive bonuses

SA’s banks reveal how small businesses can apply for the R1bn Oppenheimer fund

COVID-19 will see more demand from banks – Nedbank CEO

Nedbank announces measures to cushion its customers against coronavirus

Zim, Banco Unico & tough economic environment weigh on Nedbank’s FY earnings

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Nedbank

Focus On: Nedbank lists globally Actively Managed Certificate

The Power Table: The future of EVs

How the on-going civil unrest threatens economic recovery in South Africa

SA retail sales & mining stats out this week, here’s what to expect

Unpacking SA’s energy plans & the role of banks

Nedbank CEO Mike Brown reflects on difficult year, calls for speedy rollout of vaccines

Nedbank CEO on COVID-19 impact & the need for swift reforms to rescue SA’s economy

S.Africa’s Nedbank hopes worst is over after posting almost 70% profit drop

South Africa’s Nedbank Group CFO Raisibe Morathi resigns

S.Africa’s Nedbank says half year profit will fall by over two-thirds

Nedbank on Africa’s real estate outlook post-COVID-19

Here’s how to apply for SA’s COVID-19 loan guarantee scheme

Nedbank on future of dividends, executive bonuses

SA’s banks reveal how small businesses can apply for the R1bn Oppenheimer fund

COVID-19 will see more demand from banks – Nedbank CEO

Nedbank announces measures to cushion its customers against coronavirus

Zim, Banco Unico & tough economic environment weigh on Nedbank’s FY earnings

News Tips

Advertise With Us

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