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<p>Sixty five per cent of all transactions in South Africa remain cash, better than the continental average of 95 per cent but much higher than the rest of the world. The South African Payments Association (PASA) is working to rectify that. CNBC Africa caught up with John Buitendag, Manager for Strategy and Research for more.</p>


PASA’s Buitendag on the role of technology in reducing cash transactions

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<p>Crypto currencies will be part of the overall solution to reducing cash usage in economies throughout the world though it may take time. That’s the view of Farzam Ehsani, co-Founder and CEO of Valr, a virtual currency exchange.</p>


Valr CEO Ehsani on how crypto currencies can be used to reduce cash usage

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<p>Futurist John Sanei says the future demands innovative entrepreneurs able to leverage technology to solve society&#8217;s problems. Sanei was speaking at the 2019 Mastercard Indaba in Durban.</p>


John Sanei: The future demands innovative entrepreneurs to tackle society’s problems

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<p>Ukheshe, a payment system developed by four social entrepreneurs, marks another milestone in its short life today with the launch of a partnership with Mastercard. CNBC Africa caught up with Clayton Hayward, one of the founders and asked him about the journey to date.</p>


Mastercard

Mastercard, Ukheshe partner to grow informal businesses

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<p>For the majority of South Africans cash relations king, accounting for over 70 percent of all sales despite its costliness and risks of carrying it. Mike Prentice, Group Marketing Executive at the Spar Group, spoke to CNBC Africa’s Godfrey Mutizwa about efforts being made to raise cashless transactions.</p>


Are South Africans ready to fully embrace a cashless transactions?

Are South Africans ready to fully embrace cashless transactions?

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<p>The Mastercard Indaba, hosted at the Zimbali Resort, brings together industry experts to discuss digital payments and the way forward. CNBC Africa&#8217;s Godfrey Mutizwa spoke with Mark Elliott, Division President of Mastercard Southern Africa.</p>


Mastercard: How can we build a cheaper way to transact ultimately to displace cash?

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<p>Ghana and Zambia, countries that have previously seen as pillars of stability and good governess have had a decline in the Africa Risk reward index for 2019. The index looks at the evolution of the investment landscape in major Africa markets and is compiled by Control Risks and Oxford Economics. Barnaby Fletcher, Associate Director Analyst at Control Risks joins CNBC Africa for more.</p>


Africa Risk-Reward Index: Tracking the investment landscape across major African markets

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<p>Climate Change cannot be put off for decades. It is here and now, impacting countries across Africa from Zimbabwe to Zambia. Recognising this Standard Bank has joined the coalition of 130 global financial firms in agreeing to align their business with international efforts to address climate change and other environmental issues. The group that signed on to the United Nations’ Principles for Responsible Banking represents $47 trillion in assets. Sola David-Borha, Standard Bank Group’s Chief Executive for Africa Regions joins CNBC Africa for more.</p>


How banks can align their business strategies to fighting climate change


<p>JOHANNESBURG (Reuters) &#8211; MTN Group Ltd said on Tuesday the chief executive officers of its Zambian and Cote d’Ivoire units would step down at the end of the month.</p>



<p>Africa’s largest mobile phone operator said Zambia’s Philip van Dalsen, who joined MTN in 2012 as CEO of MTN Cyprus, would be replaced by MTN Rwanda CEO Bart Hofker, in October.</p>



<p>Mitwa Kaemba Ng’ambi has been appointed as the new CEO of MTN Rwanda.</p>



<p>The firm said Freddy Tchala, its Cote d’Ivoire CEO, who had a 17-year stint at the firm, would also be leaving at the end of September with his replacement still to be announced.</p>



<p>Spokeswoman Karen Byamugisha said van Dalsen and Tchala are both stepping down due to personal reasons.</p>



<p>MTN has a presence in 21 countries in Africa and the Middle East.</p>



<p>Reporting by Tanisha Heiberg; editing by Jason Neely</p>


CEOs of MTN’s Zambia and Cote d’Ivoire units are stepping down


<p>LUSAKA (Reuters) &#8211; Zambia has introduced a cap on the price of maize to keep the staple food affordable, sparking protest from commercial farmers who accused the government of bringing back price controls.</p>



<p>Agriculture Minister Michael Katambo said on Sunday that millers, stockfeed manufacturers, chain stores and grain traders agreed in a meeting with the government to peg the price of maize at a maximum of 2,600 kwacha ($198.93) per tonne.</p>



<p>The price of maize meal, Zambia’s staple food, has in some cases doubled to 150 kwacha per 25 kg bag from 75 kwacha early this year.</p>



<p>Zambia’s 2019 maize production is expected to fall 16% to about 2 million tonnes from 2.39 million tonnes last year largely due to prolonged dry weather, Katambo said in May.</p>



<p>Katambo said on Sunday that the private sector panicked and rushed into the market thinking that there was not enough maize and this pushed up prices.</p>



<p>“Maize prices were rising every week because of this panic and the implication was that the mealie meal price was getting higher,” Katambo said, referring to maize meal.</p>



<p>Katambo said Zambia still had sufficient maize stocks and indications were that less than 1 million tonnes of maize had been bought from the 2 million tonnes the country produced.</p>



<p>“This price is not coming from the government but the private sector players who attended the meeting,” Katambo said.</p>



<p>In a statement on Sunday, the Zambia National Farmers’ Union (ZNFU), which represents commercial farmers condemned the cap, saying prices should be left to market forces.</p>



<p>ZNFU said its members were not invited to the gathering where the price was agreed and had called for an urgent meeting this week to discuss the decision.</p>



<p>($1 = 13.0700 Zambian kwachas)</p>



<p>Reporting by Chris Mfula; editing by Jason Neely</p>


Here’s why Zambia has introduced a cap on the price of maize

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<p>Today the business community is mourning medical doctor and former soldier who became one of South Africa’s best known entrepreneurs. She was also on Forbes Africa&#8217;s August cover. Dr Thandi Ndlovu died in a car accident at the weekend that claimed four lives. Many called her Doctor T. She was a hard working person with a warm heart and grew up in the turmoil of the struggle. In 1976 her brother Hastings Ndlovu was killed in the Soweto uprising. That year she left South Africa to join Umkhonto we Sizwe the military wing of the African National Congress (ANC).  She was also a member of the executive of the ANC Women’s Section in Lusaka, Zambia. To pay tribute, Rali Mampeule, CEO of South African Housing and Infrastructure Fund joins CNBC Africa for more.</p>


Tributes flow in following the passing of Dr. Thandi Ndlovu


<p>JOHANNESBURG (Reuters) &#8211; Mining company Vedanta said on Thursday that it is seeking an urgent court order in South Africa to prevent Zambia’s mining investment arm ZCCM from winding up its disputed Konkola Copper Mines (KCM) business.</p>



<p>Vedanta is locked in a dispute with the Zambian government, which accuses KCM of breaching the terms of its licence.</p>



<p>Vedanta denies that KCM has broken the terms of its licence and says it will defend its assets in Zambia, Africa’s second-biggest copper producer.</p>



<p>The case has intensified concerns among international miners about resource nationalism in Africa.</p>



<p>A ZCCM spokeswoman was not immediately available for comment.</p>



<p>Vedanta said in a statement that it had obtained a temporary order in South Africa’s High Court allowing it to make an urgent request on July 16 for an injunction against ZCCM and a provisional liquidator at KCM.</p>



<p>Vedanta holds a majority stake in KCM, with ZCCM holding a minority stake.</p>



<p>“Vedanta will seek an interim court order declaring that ZCCM has breached the KCM shareholders’ agreement by pursuing winding-up proceedings against KCM in Zambia, and directing ZCCM to withdraw those proceedings,” the statement added.</p>



<p>Vedanta applied to the South African court because the KCM shareholders’ agreement makes provision for arbitration in South Africa.</p>



<p>Reporting by Alexander Winning, editing by Deepa Babington</p>


What you need to know about Vedanta’s appeal to South African court to protect Zambian business

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<p>Trevor Simumba, Economic and Trade Expert joins CNBC Africa to look at movements shaping the Zambian market space.</p>


Zambian president Edgar Lungu moves to reassure nervous investors


<p>(Reuters) &#8211; South African mobile phone operator Vodacom Group Ltd on Friday said it has entered an agreement to sell its Business Africa unit’s Angolan operations and assets to Internet Technologies Angola for an undisclosed amount.</p>



<p>Separately, Vodacom, which is majority owned by Vodafone Group Plc, also announced an agreement to sell the unit’s operations in Nigeria, Zambia and Cote d’Ivoire to Synergy Communications.</p>



<p>Vodacom said it will no longer service enterprise customers directly in any of the four markets but will continue to service clients through local service providers.</p>



<p>Reporting by Shariq Khan in Bengaluru; Editing by Rashmi Aich</p>



<p></p>


Vodacom unit plans to sell operations in four African markets, what you need to know

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<p>Economist, Chibamba Kanyama joins CNBC Africa to look at movements shaping the Zambian market space.</p>


Zambian mining tax threatens output


<p>LUSAKA (Reuters) &#8211; Zambia will fine and break ties with mining firms that fail to operate according to the southern African country’s laws, President Edgar Lungu said on Thursday, escalating a dispute with India-listed Vedanta.</p>



<p>Vedanta is fighting Zambia’s decision last month to name a provisional liquidator to run its Konkola Copper Mines (KCM) business and is seeking international arbitration.</p>



<p>Zambia, Africa’s second-largest copper producer, says KCM has breached the terms of its licence.</p>



<p>The dispute between Vedanta and the Zambian government has intensified concerns among international miners about rising resource nationalism in Africa.</p>



<p>Lungu said in a statement at a mining and energy conference in Lusaka that the government expected investors to operate within the confines of the law.</p>



<p>“Failure to do so will result in the government imposing sanctions and disengaging with the unwilling parties,” he said in the statement read out by Mines Minister Richard Musukwa.</p>



<p>Zambia’s Chamber of Mines said last month that 2019 copper output could be as much as 100,000 tonnes lower than last year because of changes to mining taxes.</p>



<p>Zambia plans to introduce a new non-refundable sales tax in place of Value Added Tax, despite criticism from mining companies.</p>



<p>Lungu disagreed with the Chamber of Mines’ predictions, saying the government forecast copper output would reach 890,000 tonnes by the end of the year, more than last year.</p>



<p>He said the government was ready for dialogue with miners, which account for 70 percent of export earnings.</p>



<p>But he added: “The government will not take kindly to any form of arm-twisting on the part of industry with regard to meeting their obligations.”</p>



<p>Reporting by Chris Mfula; editing by Emelia Sithole-Matarise </p>


Why Zambian president is threatening to fine miners

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<p>Trevor Simumba, Economic and Trade Expert CNBC Africa to look at movements shaping the Zambian market space.</p>


Zambia

PASA’s Buitendag on the role of technology in reducing cash transactions

Valr CEO Ehsani on how crypto currencies can be used to reduce cash usage

John Sanei: The future demands innovative entrepreneurs to tackle society’s problems

Mastercard, Ukheshe partner to grow informal businesses

Are South Africans ready to fully embrace cashless transactions?

Mastercard: How can we build a cheaper way to transact ultimately to displace cash?

Africa Risk-Reward Index: Tracking the investment landscape across major African markets

How banks can align their business strategies to fighting climate change

CEOs of MTN’s Zambia and Cote d’Ivoire units are stepping down

Here’s why Zambia has introduced a cap on the price of maize

Tributes flow in following the passing of Dr. Thandi Ndlovu

What you need to know about Vedanta’s appeal to South African court to protect Zambian business

Zambian president Edgar Lungu moves to reassure nervous investors

Vodacom unit plans to sell operations in four African markets, what you need to know

Zambian mining tax threatens output

Why Zambian president is threatening to fine miners

Analysis: Why Zambia’s infrastructure drive failed to lift economy

News Tips

Advertise With Us

Zambia

PASA’s Buitendag on the role of technology in reducing cash transactions

Valr CEO Ehsani on how crypto currencies can be used to reduce cash usage

John Sanei: The future demands innovative entrepreneurs to tackle society’s problems

Mastercard, Ukheshe partner to grow informal businesses

Are South Africans ready to fully embrace cashless transactions?

Mastercard: How can we build a cheaper way to transact ultimately to displace cash?

Africa Risk-Reward Index: Tracking the investment landscape across major African markets

How banks can align their business strategies to fighting climate change

CEOs of MTN’s Zambia and Cote d’Ivoire units are stepping down

Here’s why Zambia has introduced a cap on the price of maize

Tributes flow in following the passing of Dr. Thandi Ndlovu

What you need to know about Vedanta’s appeal to South African court to protect Zambian business

Zambian president Edgar Lungu moves to reassure nervous investors

Vodacom unit plans to sell operations in four African markets, what you need to know

Zambian mining tax threatens output

Why Zambian president is threatening to fine miners

Analysis: Why Zambia’s infrastructure drive failed to lift economy

News Tips

Advertise With Us

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