Global ratings agency S&P has affirmed Zambia’s long- and short-term foreign and local currency sovereign credit ratings with a negative outlook. This news was overshadowed by the surprise move by Zambian President Lungu over the weekend, as he fired the reserve bank governor with immediate effect and no reason. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.
According to GeoPoll latest survey, it is estimated that almost half of the world's population is at risk of job loss due to COVID-19. Kenya has already experienced over 1.2 million lost jobs. Joining CNBC for more on the financial impact of the virus in Sub-Saharan Africa is Joy Masimane, Client Service Lead East Africa at GeoPoll.
Credit rating firm S&P has lowered Kenya’s outlook from stable to negative due to high debt and interest burden that could be worsened by the COVID-19 pandemic. Ken Gichinga, Chief Economist at Mentoria Economics joins CNBC Africa for more.
he Nasdaq hit another record high, however, helped by gains in Amazon.com (AMZN.O), Microsoft Corp (MSFT.O) and Apple Inc (AAPL.O).
Markets in turmoil: India, Thailand halt trading, stock futures point to more pain ahead for US, European & African markets
Stock futures pointed to more pain ahead on Friday.
By: S&P Insurance companies that we rate in South Africa should remain profitable in 2018, despite continuing headwinds in the domestic economy. For the first time since 2013, outlooks are stable on all...
S&P Global Ratings downgraded the credit rating for South Africa’s state-run power utility Eskom to CCC+ from B- on Wednesday, citing liquidity concerns and insufficient government support that could trigger a default. “Eskom...