maxresdefault

Focus On US-Africa Business Summit 2024

Beyond the shores: Rwandan businesses & investors

KEY POINTS



<ul><li>Fed Chair Jerome Powell said he will back interest rate increases until prices start falling back toward a healthy level.</li><li>“If that involves moving past broadly understood levels of neutral we won’t hesitate to do that,” the central bank leader told the Wall Street Journal</li></ul>



Federal Reserve Chair&nbsp;<a href="https://www.cnbc.com/jay-powell/">Jerome Powell</a>&nbsp;emphasized his resolve to get inflation down, saying Tuesday he will back interest rate increases until prices start falling back toward a healthy level.



“If that involves moving past broadly understood levels of neutral we won’t hesitate to do that,” the central bank leader told The Wall Street Journal&nbsp;<a href="https://www.wsj.com/articles/feds-powell-to-take-wsj-questions-on-inflation-and-economic-outlook-11652779802" target="_blank" rel="noreferrer noopener">in a livestreamed interview</a>. “We will go until we feel we’re at a place where we can say financial conditions are in an appropriate place, we see inflation coming down.



“We’ll go to that point. There won’t be any hesitation about that,” he added.



Earlier this month, <a href="https://www.cnbc.com/2022/05/04/fed-raises-rates-by-half-a-percentage-point-the-biggest-hike-in-two-decades-to-fight-inflation.html">the Fed raised benchmark borrowing rates</a> by half a percentage point, the second increase of 2022 as inflation runs around a 40-year high.



Powell said following that increase that similar 50 basis point moves were likely to come at ensuing meetings so long as&nbsp;<a href="https://www.cnbc.com/2022/05/17/retail-sales-april-2022-up-0point9percent-vs-1point0percent-estimate.html">economic conditions</a>&nbsp;remained similar to where they are now.



On Tuesday, he repeated his commitment to getting inflation closer to the Fed’s 2% target, and cautioned that it might not be easy and could come at the expense of&nbsp;<a href="https://www.cnbc.com/2022/05/06/job-growth-accelerated-by-428000-in-april-more-than-expected-as-jobs-picture-stays-strong.html">a 3.6% unemployment rate</a>&nbsp;that is just above the lowest level since the late 1960s.



“You’d still have a strong labor market if unemployment were to move up a few ticks,” he said. “I would say there are a number of plausible paths to have a soft as I said softish landing. Our job isn’t to handicap the odds, it’s to try to achieve that.”



The U.S. economy saw growth contract at a 1.4% pace in the first quarter of 2022, due largely to ongoing supply side constraints, spread of the omicron Covid variant and the <a href="https://www.cnbc.com/2022/05/17/russia-ukraine-live-updates.html">war in Ukraine</a>.



However, tighter monetary policy has added to concerns about a steeper downturn and has sparked an aggressive sell-off on Wall Street. In addition to the 75 basis points in interest rate hikes, the Fed also has halted its monthly bond-buying program, which is also known as quantitative easing, and will begin shedding some of the $9 trillion in assets it has acquired starting next month.



Powell said he still hopes the Fed can achieve its inflation goals without tanking the economy.



“You’d still have a strong labor market if unemployment were to move up a few ticks. I would say there are a number of plausible paths to have a soft as I said softish landing. Our job isn’t to handicap the odds, it’s to try to achieve that,” he said.



He added that “there could be some pain involved to restoring price stability” but said the labor market should remain strong, with low unemployment and higher wages.

Federal Reserve Chairman Jerome Powell Photo: via Flickr

Powell says the Fed will not hesitate to keep raising rates until inflation comes down

WASHINGTON, May 16 (Reuters)&nbsp;&#8211;&nbsp;U.S. President Joe Biden has authorized the redeployment of fewer than 500 American troops into Somalia, U.S. officials said on Monday, after Donald Trump ordered their withdrawal during his presidency.



Prior to Trump&#8217;s withdrawal, the United States had about 700 troops in Somalia focused on helping local forces defeat the al Qaeda-linked al Shabaab insurgency.



&#8220;This is a repositioning of forces already in theater who have traveled in and out of Somalia on an episodic basis,&#8221; White House press secretary Karine Jean-Pierre told reporters. The exact number of troops was not mentioned at the briefing.



A senior administration official, speaking on the condition of anonymity, said Biden had approved the request from U.S. Defense Secretary Lloyd Austin to &#8220;enable a more effective fight against al Shabaab.&#8221;



The Pentagon said the troops would not be directly fighting in combat operations, but working to train, advise and equip Somali forces.



&#8220;Secretary&#8217;s (Austin&#8217;s) view was that the episodic engagement model was inefficient and increasingly unsustainable,&#8221; Pentagon spokesman John Kirby told reporters.



The revamped troop presence will include fewer than 500 U.S. troops, another U.S. official said.



Al Shabaab is seeking to topple the government and establish its own rule in Somalia based on its strict interpretation of Islamic Sharia law.



The insurgent group frequently carries out bombings in Mogadishu and elsewhere as part of its war against the Horn of Africa country&#8217;s central government.



&#8220;It&#8217;s good news to have U.S. troops on the ground and counterterrorism efforts can be reinitiated,&#8221; said Colonel Ahmed Sheikh, the former commander of Somalia&#8217;s elite Danab Special Forces unit, trained by U.S. troops.



&#8220;This will be a huge boost for the new president – he has a big task ahead,&#8221; he added.



Former Somali leader Hassan Sheikh Mohamud won the presidency again in voting by parliamentarians on Sunday.



Somalia has endured conflict and clan battles with no strong central government since the fall of dictator Mohamed Siad Barre in 1991. The government has little control beyond the capital and the African Union contingent guards in an Iraq-style &#8220;Green Zone.&#8221;



While the United States did not have troops in Somalia since Trump ordered their withdrawal in December 2020, the military has occasionally carried out strikes in the country and has had troops in nearby countries.



(Reporting by Steve Holland and Idrees Ali in WashingtonAdditional rerpoting by Katharine Houreld and Jeff Mason Editing by Bill Berkrot and Matthew Lewis)

somalia-flag_Public Domain Pictures

Biden approves redeployment of under 500 ground troops to Somalia

KEY POINTS



<ul><li>The Federal Reserve increased its benchmark interest rate by half a percentage point, in line with market expectations.</li><li>In addition, the central bank outlined a program in which it eventually will reduce its bond holdings by $95 billion a month.</li><li>The rate move is the largest since 2000 and is in response to burgeoning inflation pressures.</li><li>Fed Chairman Jerome Powell underlined the commitment to bringing inflation down but indicated that raising rates by 75 basis points at a time “is not something the committee is actively considering.”</li></ul>



WASHINGTON — The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation.



“Inflation is much too high and we understand the hardship it is causing. We’re moving expeditiously to bring it back down,” Fed Chairman Jerome Powell said during a news conference, which he opened with an unusual direct address to “the American people.” He noted the burden of inflation on lower-income people, saying, “we’re strongly committed to restoring price stability.”



That likely will mean, according to the chairman’s comments, multiple 50-basis point rate hikes ahead, though likely nothing more aggressive than that.



The federal funds rate sets how much banks charge each other for short-term lending, but also is tied to a variety of adjustable-rate consumer debt.



Along with the move higher in rates, the central bank indicated it will begin reducing asset holdings on its&nbsp;<a href="https://www.federalreserve.gov/releases/h41/20220428" target="_blank" rel="noreferrer noopener">$9 trillion balance sheet</a>. The Fed had been buying bonds to keep interest rates low and money flowing through the economy during the pandemic, but the surge in prices has forced a dramatic rethink in monetary policy.



Markets&nbsp;<a href="https://www.cnbc.com/2022/05/02/fears-of-a-fed-mistake-grow-as-this-weeks-anticipated-interest-rate-hike-looms.html">were prepared for both moves</a>&nbsp;but nonetheless have been volatile throughout the year. Investors have relied on the Fed as an active partner in making sure markets function well, but the inflation surge has necessitated tightening.



Wednesday’s rate hike will push the federal funds rate to a range of 0.75%-1%, and current market pricing has the rate rising to 2.75%-3% by year’s end, according to CME Group data.



Stocks leaped higher following the announcement while Treasury yields backed off their earlier highs.



Markets now expect the central bank&nbsp;<a href="https://www.cnbc.com/2022/05/03/the-fed-is-expected-to-raise-rates-by-a-half-point-investors-wonder-if-it-will-get-more-aggressive.html">to continue raising rates aggressively</a>&nbsp;in the coming months. Powell, said only that moves of 50 basis points “should be on the table at the next couple of meetings” but he seemed to discount the likelihood of the Fed getting more hawkish.



“Seventy-five basis points is not something the committee is actively considering,” Powell said, despite market pricing that had leaned heavily towards the Fed hiking by three-quarters of a percentage point in June.



“The American economy is very strong and well-positioned to handle tighter monetary policy,” he said, adding that he foresees a “soft or softish” landing for the economy despite tighter monetary policy.WATCH NOWVIDEO03:04A 75 basis point increase is not something we’re actively considering, says Fed Chair Powell



The plan outlined Wednesday will see the balance sheet reduction happen in phases, with the Fed allowing a capped level of proceeds from maturing bonds to roll off each month while reinvesting the rest. Starting June 1, the plan will see $30 billion of Treasurys and $17.5 billion on mortgage-backed securities roll off. After three months, the cap for Treasurys will increase to $60 billion and $35 billion for mortgages.



Those numbers were mostly in line with discussions at the last Fed meeting, as described in minutes from the session, though there were some expectations that the increase in the caps would be more gradual.



Wednesday’s statement noted that economic activity “edged down in the first quarter” but noted that “household spending and business fixed investment remained strong.” Inflation “remains elevated,” the Fed statement said.



Finally, the statement addressed the Covid outbreak in China and the government’s attempts to address the situation.



“In addition, Covid-related lockdowns in China are likely to exacerbate supply chain disruptions. The Committee is highly attentive to inflation risks,” the statement said.



“No surprises on our end,” said Collin Martin, fixed income strategist at Charles Schwab. “We’re a little bit less aggressive on our expectations than the markets are. Do think another 50 basis point increase in June seems likely. … We think inflation is close to peaking. If that shows some signs of peaking and declines later in the year, that gives the Fed a little leeway to slow down on such an aggressive pace.”



Though some Federal Open Market Committee members had pushed for bigger rate increases, Wednesday’s move received unanimous support.



The 50-basis-point increase is the biggest increase the rate-setting FOMC has instituted since May 2000. Back then, the Fed was fighting the excesses of the early dotcom era and the internet bubble. This time around, the circumstances are quite a bit different.



As the pandemic crisis hit in early 2020, the Fed slashed its benchmark funds rate to a range of 0%-0.25% and instituted an aggressive program of bond buying that more than doubled the size of its balance sheet. At the same time, Congress approved a series of bills that injected more than $5 trillion of fiscal spending into the economy.



Those policy moves were followed by clogged supply chains and surging demand as economies reopened. Inflation over a 12-month period&nbsp;<a href="https://www.cnbc.com/2022/04/12/consumer-prices-rose-8point5percent-in-march-slightly-hotter-than-expected.html">rose 8.5% in March</a>, as gauged by the Bureau of Labor Statistics’ consumer price index.



Fed officials for months dismissed the inflation surge as “transitory” then had to rethink that position as the price pressures did not relent.



For the first time in more than three years, the FOMC in March&nbsp;<a href="https://www.cnbc.com/2022/03/16/federal-reserve-meeting.html">approved a 25-basis-point increase</a>, indicating then that the funds rate could rise to just 1.9% this year. Since then, though, multiple statements from central bankers&nbsp;<a href="https://www.cnbc.com/2022/04/05/feds-brainard-sees-balance-sheet-reduction-soon-and-at-a-rapid-pace.html">pointed to a rate well north of that</a>. Wednesday’s move marked the first time the Fed has boosted rates at consecutive meetings since June 2006.



Stocks have tumbled through this year, with the Dow Jones Industrial Average off nearly 9% and bond prices falling sharply as well. The benchmark 10-year Treasury yield, which moves opposite price, was around 3% Wednesday, a level it hasn’t seen since late 2018.



When the Fed was last this aggressive with rate hikes, it took the funds rate to 6.5% in early 2000, but was forced to retreat just seven months later. With the combination of a recession already underway plus the Sept. 11, 2001 terrorist attacks, the Fed rapidly cut, eventually slashing the funds rate all the way down to 1% by mid-2003, shortly after the Iraq invasion.



Some economists worry the Fed could face the same predicament this time — failing to act on inflation when it was surging, then tightening in the face of slowing growth. GDP fell 1.4% in the first quarter, though it was held back by factors such as rising Covid cases and a slowing inventory build that are expected to ease through the year.

106999520-16419153682022-01-11t153007z_1471999278_rc23xr9k3c5b_rtrmadp_0_usa-fed-senate-powell

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

<div style="max-width: 100%;"></div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
Food and oil price action in the fourth quarter of 2020 was just the start of a volatile pattern that emerging markets are likely to face throughout the whole of 2021. The countries with higher food weights in their inflation baskets stand out as the most vulnerable. Joining CNBC Africa to unpack that risk and more is Simon Quijano-Evans, Chief Economist at Gemcorp.

What can emerging markets expect from a Biden presidency?

<div style="max-width: 100%;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6208999026001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
Emerging markets have been riding a wave of optimism, with Democratic leader Joe Biden becoming President-elect in the United States. We have seen the Rand trading on happy ground for over a week, with hopes that the change in administration in the U.S. will benefit South Africa. Joining me to unpack what this means for the country is Jameel Ahmad, Director of Investment Strategy at NAGA &#038; Martin Kingston, Steering Committee Chairperson at Business for South Africa.

US Elections: What does a Biden win mean for South Africa?

<div style="max-width: 100%;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6208633560001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
Last year, the United States launched a development finance institution known as DFC which is responsible for providing and facilitating the financing of private development projects in lower and middle income countries. Some observers have also suggested that it aims to counter China’s influence in these countries. Grant Harris, CEO of Connect Frontier LLC joins CNBC Africa for more.

How Africa can benefit from incoming U.S administration on trade

<div style="max-width: 100%;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6208407049001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
The last few years have been tough on investors and financial advisors in South Africa. A tough economic climate and COVID-19 have led to markets seeing consistently low returns. This begs the question: What will the future hold? Joining CNBC Africa to unpack the future of South Africa’s investment markets is Andrew MacKenzie, Head of Portfolio Management at Nedbank Private Wealth.

Nedbank Private Wealth on what the future holds for SA’s investment markets

<div style="max-width: 100%;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6208333428001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
Democratic candidate Joe Biden has been elected the 46th president of the United States of America. Grant Harris, CEO of Connect Frontier LLC joins CNBC Africa for more on how U.S relations with Africa will look like under the new administration.

Connect Frontier CEO: Here’s what Africa should expect under President-elect Biden

<div style="max-width: 100%;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6193742845001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
Africa’s largest global trading partner is China; however the vulnerability of global supply chains has intensified with onslaught of the U.S-China trade tensions.

How the U.S-China trade tensions impacts Africa’s free trade agreement

<div style="max-width: 700px;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6186920796001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
The United States is counting down the days of a very important presidential election taking place on the 3rd of November. What will this election mean for trade relations with South Africa and what are the investment opportunities for U.S companies in South Africa. Joining CNBC Africa for more is Lana Marks, United States Ambassador to South Africa.

Ambassador Lana Marks on trade

Ambassador Lana Marks on trade, upcoming presidential elections & what attracts U.S investors to SA

<div style="max-width: 700px;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6180422479001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
It’s not all doom and gloom for economic prospects during COVID-19, this is according to UBS Global Wealth Management Chief Economist, Paul Donovan who notes that 85 per cent of salaries in Europe and the U.S have remained unchanged in the last quarter which leaves room for optimism in buying power. He joins CNBC Africa for more.

Why this economist believes it’s not all gloom and doom for the global economic outlook

<div style="max-width: 700px;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6172401984001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
Yesterday afternoon at least two of the African candidates for the top job at the World Trade Organization went in for their interviews before delegates at its headquarters in Geneva in Switzerland. Kenyan government minister Amina Mohamed and former Nigerian finance Ngozi Okonjo Iweala 15 minutes each to put forward their case for the job. Then each was grilled for 75 minutes by delegates about their vision for the future of world trade. John Stremlau, Honorary Professor of International Relations joins CNBC Africa for more.

What reforms are needed for the WTO?

<div style="max-width: 700px;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6172062693001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
At least two of the African candidates for the top job at the World Trade Organization will go for their interviews before delegates at its headquarters in Geneva in Switzerland today. Kenyan government minister Amina Mohamed and former Nigerian finance Ngozi Okonjo Iweala 15 minutes each to put forward their case for the job. Then each will be grilled for 75 minutes by delegates about their vision for the future of world trade. CNBC Africa&#8217;s Chris Bishop took a look at the background. International Relations Analyst, Brook Spector unpacks this further.

Here is what awaits the next WTO leader

<div style="max-width: 700px;">
 <video-js
 data-account="1571595826001"
 data-player="c0AOssA7"
 data-video-id="6168232795001"
 data-embed="default"
 controls=""
 data-application-id=""
 class="vjs-fluid"></video-js>
</div>
<script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script>
Kenya looks to protect key firms and sectors in Kenya-US Free Trade Agreement negotiations; President Kenyatta hints at the country&#8217;s inter-county lock-down being lifted and the Central Bank of Kenya predicts a strong economic recovery post-pandemic. These are the stories making headlines in Kenya, and CNBC Africa spoke to Journalist, Joseph Bonyo for more.

Kenya looks to protect key sectors & firms in Kenya-US FTA negotiations

In light of the current COVID-19 pandemic, media intelligence company Meltwater has been tracking some of the most talked about and reported topics on the virus around the world, as well as some of the stories that are not gaining as much media attention.



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



The data report provided below has been compiled by Meltwater:



As COVID-19 continues to spread across the globe, and news and social media conversations on the current pandemic continue to rise, much of the information reported on has had to do with the rising number of confirmed cases, the number of deaths and preventive measures that countries have been implementing since the World Health Organisation (WHO) declared COVID-19 a global pandemic.



But did you know that since 1 January 2020 to date, there have been 26.1 million news articles, globally, reporting on the coronavirus, but just under 6 000 of those news articles are talking about a possible vaccine? As the global leader in media intelligence, Meltwater not only tracked the most reported on news and social media topics since the start of 2020, but also took a look into the 4 most under-reported on topics surrounding the coronavirus.



1. How the news is under-reporting on a vaccine



One of the first trending topics to emerge from the coronavirus was a vaccine, or lack thereof, and the potential&nbsp; of a vaccine being created. While governments around the world are working towards treatment for coronavirus, this news isn’t making as many headlines globally.



While the process of finding a vaccine began as many parts of the world started to go into self-quarantine, researchers across the biotechnology and pharmaceutical industries have started the global race towards making a vaccine, with just over 7 000 news articles mentioning ‘research’ with ‘coronavirus’ and ‘vaccine’, indicating that there is a slightly higher interest in news media on the research that scientists are doing for a vaccine than the actual potential of one being created.



With the Bill &amp; Melinda Gates Foundation donating $100 million to help develop a vaccine, news articles are reporting more on this, with over 4 000 news articles already written between 1 March 2020 and 8 April 2020, in comparison to news articles that do not mention the foundation’s involvement.



Only on 16 March 2020 did ‘research’, ‘coronavirus’ and ‘vaccine’ gain more media exposure on in the news due to reporting on fake test kits and herbal treatments for the coronavirus.



<figure class="wp-block-gallery columns-1 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex"><ul class="blocks-gallery-grid"><li class="blocks-gallery-item"><figure><img loading="lazy" decoding="async" width="627" height="423" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-1.png" alt="" data-id="368605" data-full-url="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-1.png" data-link="https://www.cnbcafrica.com/?attachment_id=368605" class="wp-image-368605" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-1.png 627w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-1-300x202.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></figure></li></ul><figcaption class="blocks-gallery-caption">Global News Media Exposure on ‘‘Coronavirus” and “Vaccine” (blue) and ‘‘Bill &amp; Melinda Gates Foundation” and ‘Vaccine’’ (green) between 1 January 2020 and 8 April 2020</figcaption></figure>



One of the biggest themes to come out of news media mentions on the ‘Coronavirus’ and ‘vaccines’ is ‘people.’ ‘People’ refers to the impact on citizens of the world that a current lack of a vaccine has, but also what people should do while they wait for a vaccine. While some news articles are reporting that it could take between 12 and 18 months for a successful vaccine to be developed, the human impact in the interim could be devastating, especially from an economic standpoint.



<figure class="wp-block-gallery columns-1 is-cropped wp-block-gallery-2 is-layout-flex wp-block-gallery-is-layout-flex"><ul class="blocks-gallery-grid"><li class="blocks-gallery-item"><figure><img loading="lazy" decoding="async" width="627" height="425" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-2.png" alt="" data-id="368607" data-full-url="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-2.png" data-link="https://www.cnbcafrica.com/?attachment_id=368607" class="wp-image-368607" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-2.png 627w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-2-300x203.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></figure></li></ul><figcaption class="blocks-gallery-caption">Global Trending Themes on ‘Coronavirus and Vaccine’ in News Media between 1 January 2020 and 8 April 2020</figcaption></figure>



‘AP Fact Check’ also emerged as a trending theme for news articles talking about the ‘Coronavirus’ and ‘vaccine’. This theme refers to the news articles that are debunking fake news around the coronavirus. Across the globe, there are only 532 news articles that have reported on this since the beginning of the year.



2. The silently positive social media response to a possible vaccine



On social media, there have been over 2 million mentions of ‘Coronavirus’ and ‘vaccine’ together, in comparison to the 223 million social media mentions of just the ‘Coronavirus’ since the start of the year. But when it comes to the general consensus around a vaccine for the Coronavirus, social media users don’t feel too positive or confident about it, as indicated by the data below. Between January and March, negative feelings have been growing for a vaccine, with 91% of social media mentions in March showing low confidence in the possibility of a vaccine, with social media posts referring to vaccine projects underway as well as better restrictions being a more feasible way of preventing the spread of the virus than a vaccine.



<figure class="wp-block-gallery columns-1 is-cropped wp-block-gallery-3 is-layout-flex wp-block-gallery-is-layout-flex"><ul class="blocks-gallery-grid"><li class="blocks-gallery-item"><figure><img loading="lazy" decoding="async" width="624" height="420" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-3.png" alt="" data-id="368610" data-full-url="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-3.png" data-link="https://www.cnbcafrica.com/?attachment_id=368610" class="wp-image-368610" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-3.png 624w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-3-300x202.png 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure></li></ul><figcaption class="blocks-gallery-caption">Global Sentiment Analysis, in Numbers, on ‘Coronavirus’ and ‘Vaccine’ on Social Media</figcaption></figure>



The announcement, in March however, where the USA signed a $450 million deal with Johnson &amp; Johnson contributed to 94% of all social media mentions on ‘coronavirus’, ‘vaccine’ and ‘Johnson &amp; Johnson’ showing little confidence in the vaccine project.



<figure class="wp-block-gallery columns-1 is-cropped wp-block-gallery-4 is-layout-flex wp-block-gallery-is-layout-flex"><ul class="blocks-gallery-grid"><li class="blocks-gallery-item"><figure><img loading="lazy" decoding="async" width="624" height="437" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-4.png" alt="" data-id="368611" data-full-url="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-4.png" data-link="https://www.cnbcafrica.com/?attachment_id=368611" class="wp-image-368611" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-4.png 624w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-4-300x210.png 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure></li></ul><figcaption class="blocks-gallery-caption">Global Sentiment Analysis, in Numbers,  on ‘Coronavirus’, ‘Vaccine’ and ‘Johnson &amp; Johnson’ between 1 January 2020 and 8 April 2020</figcaption></figure>



But despite the overwhelming adversity of a vaccine for the Coronavirus, March was the month where social media posts were mostly positive, in comparison to January and February.  While there were over 63 000  positive social media posts about a vaccine, and ten times more were of a negative sentiment, social media users are still hopeful that one is possible and well on its way.



3. Number of recoveries is also under-reported by the media



As news and social media continues to talk about growing concerns and the impact that the coronavirus has had on society in terms of restricted border entry, travel bans and disruptions to the economy, there have been far less media mentions when it comes to the recoveries that have been made.



With 26.1 million news articles talking about the coronavirus across the globe, just over 5 000 of those news articles have mentioned ‘recoveries’ in relation to the virus. On social media, while 223 million mentions have been made on the coronavirus, just over 8 000 of those mentions talk about recoveries, compared to the social media mentions that include ‘Coronavirus’ and ‘death’.



<figure class="wp-block-gallery columns-1 is-cropped wp-block-gallery-5 is-layout-flex wp-block-gallery-is-layout-flex"><ul class="blocks-gallery-grid"><li class="blocks-gallery-item"><figure><img loading="lazy" decoding="async" width="624" height="413" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-5.png" alt="" data-id="368614" data-full-url="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-5.png" data-link="https://www.cnbcafrica.com/?attachment_id=368614" class="wp-image-368614" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-5.png 624w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-5-300x199.png 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure></li></ul><figcaption class="blocks-gallery-caption">Global Media Exposure on ‘‘Coronavirus’ and ‘Death’’ (blue) and ‘‘Coronavirus’ and ‘Recoveries’’ (green) between 1 January 2020 and 8 April 2020</figcaption></figure>



In the news, the USA remains as the number one country for reporting on coronavirus recoveries (53.81%). This is due to news articles reporting on the recoveries of influential people, such as singer, Pink, and actress, Linda Lusardi.



Nigeria and South Africa, respectively at 3.26% and 2,04%, are the top two countries in Africa to do the same, with Nigeria mainly reporting on the discharging of recovered patients, and South African news articles reported on the recovery of Patient Zero (the first person in the country to be infected with the virus) and Netball SA President, Cecilia Molokwane.



While social media mentions on the recovery cases have been few, the USA has been the number one country to engage in these conversations online (20.45%) and mentions not just recoveries from the virus, but how economies plan to recover from the pandemic. Nigeria is the number one African country to do so on social media (3.08%), with users sharing their experience of having the virus after recovering from it.



<figure class="wp-block-gallery columns-1 is-cropped wp-block-gallery-6 is-layout-flex wp-block-gallery-is-layout-flex"><ul class="blocks-gallery-grid"><li class="blocks-gallery-item"><figure><img loading="lazy" decoding="async" width="624" height="441" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-6.png" alt="" data-id="368616" data-full-url="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-6.png" data-link="https://www.cnbcafrica.com/?attachment_id=368616" class="wp-image-368616" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-6.png 624w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-6-300x212.png 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure></li></ul><figcaption class="blocks-gallery-caption">Global Heat Map of Social Media mentions for ‘Coronavirus’ and ‘Recovery’ between 1 January 2020 and 8 April 2020</figcaption></figure>



4. The importance of masks as the real influencers is under-reported



The sale of masks has seen a large increase in the wake of the global pandemic. And while it has been talked about in the media as a preventative measure, few news articles talk about how face masks have become a symbol of health in these times.



As one of the trending themes to emerge from ‘Coronavirus’ and ‘Recoveries’, ‘face masks’, ‘mask and gloves’ and ‘health mask hands’ refers to how these items, mainly associated with essential workers, are now playing a big part in preventing the spread of the virus among non-essential workers.



<figure class="wp-block-gallery columns-1 is-cropped wp-block-gallery-7 is-layout-flex wp-block-gallery-is-layout-flex"><ul class="blocks-gallery-grid"><li class="blocks-gallery-item"><figure><img loading="lazy" decoding="async" width="557" height="384" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-7.png" alt="" data-id="368619" data-full-url="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-7.png" data-link="https://www.cnbcafrica.com/?attachment_id=368619" class="wp-image-368619" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-7.png 557w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-7-300x207.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/04/Meltwater-7-218x150.png 218w" sizes="(max-width: 557px) 100vw, 557px" /></figure></li></ul><figcaption class="blocks-gallery-caption">Global Trending Themes in News Media Mentions on ‘Coronavirus’ and ‘Recoveries’ between 1 January 2020 and 8 April 2020</figcaption></figure>



While influencers and celebrities have taken to social media to share posts reacting to the Coronavirus and wearing masks, the top social media posters, by reach, to mention ‘Coronavirus’ and ‘Recovery’ are ‘Kashmir Today’, a Facebook account providing updates on the Coronavirus to their online community, and ‘MyMeleTOP’ on Twitter, a Nigerian based account that wished Tom Hanks and Rita Wilson a speedy recovery after testing positive for the Coronavirus.



With seven out of ten people searching for details and information on the coronavirus on a daily basis, the online world has become a valuable source for updates on what is happening in the real world. While the attention around the coronavirus has grown significantly during 2020, other topics of interest have become whispers in the noise surrounding COVID19.



As researchers continue to look for a vaccine, and the world embraces face masks as a prominent symbol of prevention, the data behind the insights on what has been under-reported on in relation to the coronavirus does provide an opportunity to shed light on what news and social media may not.

The 4 most under-reported stories on the COVID-19 pandemic

USA

Focus On US-Africa Business Summit 2024

Beyond the shores: Rwandan businesses & investors

Powell says the Fed will not hesitate to keep raising rates until inflation comes down

Biden approves redeployment of under 500 ground troops to Somalia

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

What can emerging markets expect from a Biden presidency?

US Elections: What does a Biden win mean for South Africa?

How Africa can benefit from incoming U.S administration on trade

Nedbank Private Wealth on what the future holds for SA’s investment markets

Connect Frontier CEO: Here’s what Africa should expect under President-elect Biden

How the U.S-China trade tensions impacts Africa’s free trade agreement

Ambassador Lana Marks on trade, upcoming presidential elections & what attracts U.S investors to SA

Why this economist believes it’s not all gloom and doom for the global economic outlook

What reforms are needed for the WTO?

Here is what awaits the next WTO leader

Kenya looks to protect key sectors & firms in Kenya-US FTA negotiations

The 4 most under-reported stories on the COVID-19 pandemic

News Tips

Advertise With Us

USA

Focus On US-Africa Business Summit 2024

Beyond the shores: Rwandan businesses & investors

Powell says the Fed will not hesitate to keep raising rates until inflation comes down

Biden approves redeployment of under 500 ground troops to Somalia

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

What can emerging markets expect from a Biden presidency?

US Elections: What does a Biden win mean for South Africa?

How Africa can benefit from incoming U.S administration on trade

Nedbank Private Wealth on what the future holds for SA’s investment markets

Connect Frontier CEO: Here’s what Africa should expect under President-elect Biden

How the U.S-China trade tensions impacts Africa’s free trade agreement

Ambassador Lana Marks on trade, upcoming presidential elections & what attracts U.S investors to SA

Why this economist believes it’s not all gloom and doom for the global economic outlook

What reforms are needed for the WTO?

Here is what awaits the next WTO leader

Kenya looks to protect key sectors & firms in Kenya-US FTA negotiations

The 4 most under-reported stories on the COVID-19 pandemic

News Tips

Advertise With Us

Newsletters