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Closing Bell West Africa

Nigerian banking index gains but industrial goods sector declines

Investors are taking a keen interest in banking stocks today but the Industrial goods sector is facing a steep decline. Dare Fajimolu, Chief Research Officer at Blue Vertex joins CNBC Africa for a recap of today’s trade.

Nigeria outlines COVID-19 fiscal response

Nigeria’s Finance Minister, Ahmed Zainab has announced some fiscal measures aimed at cushioning the impact of the coronavirus pandemic on the economy. Emmanuel Odiaka, Managing Director and CEO of ECOB Capital joins CNBC Africa to assess these measures and review Nigeria’s fixed income and forex market.

Nigeria PMI slips 47.9 in March with COVID-19 & falling oil prices as negative drivers

FBNQuest says Nigeria’s March PMI slipped to 47.9 index point in March adding that the negative drivers are the spread of the coronavirus internationally and the crash in oil prices. Chinwe Egwim, an Economist at FBNQuest joins CNBC Africa for more....

Nigeria’s fixed income market quiet over COVID-19 lockdown

Traders say Nigeria’s Fixed Income market has been relatively quiet as major market players are currently observing the lockdown. However, the market received CRR refund earlier in the week along with OMO maturities worth 384.1 billion naira, which spurred buying sentiments in the Treasury bill space. Nkem Azinge, Currency Trader at UBA joins CNBC Africa for a recap of this week’s trading at Nigeria’s fixed income and forex market....

Nigeria market watch: Investors look to banks

The NSE banking Index is up over 3 per cent as investor take position in the banking sector. However, the consumer goods index has lost over 44 per cent in the first quarter of the year. Rotimi Fakayejo, Stockbroker and Capital Market Analyst joins CNBC Africa for more....

COVID-19: Nigeria delays electricity tariff hike for 3 months

The Nigerian Electricity Regulatory Commission says there will be no tariff action in April, as the proposed increase in electricity tariffs initially slated for today has been delayed for three months. Nigeria's electricity regulator also notes that tariffs will only be raised as the Distribution Companies improve the quality of supply, meter customers and agree with consumers on rates. George Etomi, Director of the Eko Electricity Distribution Company joins CNBC Africa for more.

COVID-19: Ogun State confirms new case, postpones lockdown to Friday

Nigeria's President imposed a 14-day lockdown on Ogun, Lagos and Abuja but Ogun state has postponed the move until Friday this week. The state governor says the move became necessary to enable the distribution of relief materials ahead of the total lockdown. Remmy Hassan, Special Adviser on Public Communications to the Ogun State governor joins CNBC Africa for more....

How this APP aids the diagnostics and symptom tracking of COVID-19

Medical diagnostics distributor, RedBird, has launched a COVID-19 Daily Check-in App and Symptom Tracker, in a bid to counter the spread of coronavirus in Africa. Patrick Beattie, Co-Founder and CEO of Redbird joins CNBC Africa for more.

NSE opens week in red

Nigeria's equities market opened the week in red, dragged down by some bellwethers in the banking sector. Muktar Mohammed an Analyst at Assar Investments joins CNBC Africa for more.

Central Bank of Nigeria obtains exemption for money markets ahead of COVID-19 lockdown

The Central Bank of Nigeria says it has obtained exemptions from the President to allow very skeletal operations in the financial system and money markets in order to keep the system in light operations during the lockdown in Lagos Abuja and Ogun states. Ahead of the lockdown tonight, Nnamdi Nwizu, Co-Managing Partner at Comercio Partners joins CNBC Africa for a focus on Nigeria’s fixed income and Forex market.

Lagos State unveils emergency provisions to combat COVID-19

Lagos State has signed an Infectious Disease Emergency Provisions regulation to combat the Covid-19 pandemic. The Attorney-General of Lagos State, Moyosore Onigbajo says this give legal backing to the state’s COVID - 19 containment measures.

How this genomics research company is helping Nigeria tackle COVID-19 pandemic

Genomics research company 54Gene's COVID-19 testing support fund was launched today to increase Nigeria's daily testing capacity. The firm opened the fund with a donation of $150 thousand and has since received an additional $350 thousand from Union Bank. CEO of 54 Gene Abasi Ene-Obong joins CNBC Africa for more.

Ghana launches universal QR code for cashless transactions to curb COVID-19 spread

As Ghana deploys tactics to curb community spread of COVID-19, Alex Boahen, Head of Research at Databank Group joins CNBC Africa to discuss the impact on Ghana’s financial markets.

Nigerian foreign exchange and fixed income watch

Traders say they expect activity at the bond market to pick up today, on the back of the unmet bids at Wednesday's bond auction as well as the improvement in liquidity. Oluwatosin Ayanfalu, Fixed Income Broker at Zedcrest Capital joins CNBC Africa to review today’s trading at Nigeria’s fixed Income and Forex market.

How Nigeria’s telecoms industry is responding to COVID-19

The Central Bank of Nigeria says Non-Performing Loans in the banking industry moderated to 6.54 in the February from 6.59 per cent in January. David Adu, Senior Analyst at Meristem Securities joins CNBC Africa for a focus on Nigeria’s banking sector and telecommunication industry.

UBA’s Bankole Odusanya breaks down Nigeria’s bond auction

Bankole Odusanya, Head of Fixed Income Trading at United Bank for Africa (UBA) joins CNBC Africa to discuss investors’ response to bond auction by Nigeria’s Debt Management Office.

NSE in green as MPC maintains MPR at 13.5%

The NSE All-Share Index gained 0.19 per cent today, after the market shed 2.24 per cent. Meanwhile, Nigeria’s Monetary Policy Committee retained all its key rates in the second meeting of the year. Gbolahan Aina, Head of Investment at Cordros Asset Managment joins CNBC Africa for more....

The impact of COVID-19 on Ghana’s economy & stock exchange

Ghana’s Health Ministry says there are 24 confirmed coronavirus cases in the country with one death recorded. Ghana’s government in an effort to curtail the spread of the pandemic has closed most of its borders. Collins Appiah, Economic Advisor at Services Integrity Savings and Loans joins CNBC Africa to discuss the impact of the coronavirus on Ghana’s economy and the stock market.

Lagos announces more containment measures against COVID-19

As confirmed cases of COVID-19 rise in Lagos, the state has told 70 per cent of its public workforce to work from home for the next 14 days. This follows an initial closure of schools and worship centres. Lagos State Governor, Babajide Sanwo-Olu joins CNBC Africa for more.

How COVID-19 is impacting Côte d’Ivoire’s economy

As the COVID-19 pandemic continues to spread across Sub-Saharan Africa (SSA), Ayalenesh Tafesse, Country Risk Analyst at Rand Merchant Bank joins me to discuss the impact on Cote d’Iviore’s economy.

How will Nigeria’s MPC respond to COVID-19?

Nigeria's Monetary Policy Committee has commenced its two-day meeting, at a time the world is facing a significant health and economic crisis caused by the Covid-19 pandemic. Recently, Central Bank of Nigeria adjusted the FX rate at the I&E window to N380 per dollar and adjusted its official Naira peg for converting government revenue to 360 from N307. Dipo Ajayi, Head of Fixed Income and Forex at Chapel Hill Denham joins CNBC Africa for more.

SPM’s Paul Alaje on Nigeria’s fiscal response to COVID-19

Africa’s biggest economy, Nigeria, has now recorded a total of 12 confirmed COVID-19 cases. Paul Alaje, Senior Economist at SPM Professionals joins CNBC Africa to assess Nigeria’s fiscal response so far to the pandemic.

Zenith seeks to expand Nigeria’s insurance base with mobile service

Managing Director and CEO of Zenith Insurance, Kehinde Borisade says the recently launched USSD code gives the opportunity to expand the insurance base of Nigerians to benefit from insurance services. CNBC Africa’s Christy Cole caught up with Kehinde Borisade to discuss what to expect from the mobile insurance service.

Mixed sentiments in Nigerian markets as some investors FX yields

Traders say they expect the bullish sentiments in the fixed income market to continue as investors continue to take advantage of current yield levels. Constance Onyia, Fixed Income Dealer at Access Bank joins CNBC Africa for more on activities impacting Nigeria’s fixed income and forex market....

Nigeria to cut 2020 budget by N1.5tn in light of COVID-19

Governments across the globe are pouring increasing stimulus packages into their economies to minimise the adverse impact of the coronavirus pandemic. Chamberlain Peterside, CEO of Xcellon Capital Advisors and Femi Oladehin, Investment Banking Partner at Argentil Capital Partners both join CNBC Africa to discuss Nigeria’s defence tactics against this pandemic.

Investors dump bank stocks amid COVID-19 fears

The banking sector is in the red today, even as the Central Bank of Nigeria announced moves to soften the impact of the coronavirus pandemic on Nigeria’s economy. Ebunoluwa Babarinde, Manager at Financial Derivatives joins CNBC Africa to review the performance of the Lagos bourse amid current macro realities.

How Ghana plans to fight COVID-19 pandemic

Health authorities in Ghana have confirmed two more COVID-19 cases at the Noguchi Memorial Institute of Medical Research, bringing the total confirmed cases to nine. Ghana Health Services says both cases are imported – the first a 56-year-old man who returned from the UK a week ago and the second, a 33 year-old Ghanaian who returned from a conference in the United Arab Emirates (UAE). Dr Frank Serebour, Vice President of the Ghana Medical Association joins CNBC Africa to discuss the resilience of Ghana's healthcare system to contain the pandemic.

Zenith, Prudential seek to expand financial inclusion in Nigeria with the launch of mobile insurance service

Zenith Bank and Prudential Zenith Life have created a mobile insurance service with the USSD code to enable access to insurance services for Nigerians. Zenith Bank's Chairman, Jim Ovia joins CNBC Africa to shares some insight on this service.

Nigeria to delay non-critical spending & defer Eurobond sale

As the coronavirus pandemic continue to weigh on various markets across the globe, Nigeria's will have to wait for better conditions for its planned $3.3 billion Eurobond offer. Olugbenga Sonaike, Fixed Income Trader at Access Bank joins CNBC Africa to discuss how global developments are impacting Nigeria’s fixed income and forex markets....

Is the 2019/2020 Tariff Order helping Nigeria’s power market?

Is Nigeria’s 2019/2020 Tariff Order meeting set objectives? The CEO and Executive Vice-Chairman of Proton Energy, Oti Ikomi joins CNBC Africa to assess its impact and talk projections as the Nigeria’s power sector gears for possible commencement of implementation of a new tariff regime in April.

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Rupert family fund oversubscribed; applications temporarily suspended

Applications for the Rupert family’s R1 billion small business fund, The Sukuma Relief Programme, which opened on Friday, have temporarily been suspended.

EOH Exco chop salaries by 25%; ask staff to cut by 20%

Technology group EOH narrowed its first half loss per share from continuing operations, while group revenue fell 14 per cent and costs rose. EOH CFO, Megan Pydigadu joins CNBC Africa for more.

SA launches green fund to drive investment into SMMEs

R488 million – that’s how much the Green Outcomes Fund has set aside for fund managers to increase investment in green Small, Medium and Micro-sized Enterprises. To discuss the fund - the first of its kind, CNBC Africa is joined by Tine Fisker Henriksen: Innovative Finance Lead, UCT GSB Bertha Centre and Mark van Wyk: Head of Unlisted Investments, Mergence Investment Managers.

Sarb guides banks to put dividends, bonuses on hold

South Africa’s Reserve Bank has guided banks to put dividends and executive bonuses on hold to help reduce stress on the banking sector from fighting Covid19. For more on this recommendation as well as other directives to ensure the health of the sector, CNBC Africa is joined by Unathi Kamlana, Head of Policy Statistics and Industry Support at the Prudential Authority.

Nigerian banking index gains but industrial goods sector declines

Investors are taking a keen interest in banking stocks today but the Industrial goods sector is facing a steep decline. Dare Fajimolu, Chief Research Officer at Blue Vertex joins CNBC Africa for a recap of today’s trade.