According to a report by Ratings Agency Moody’s, Nigerian banks stand to gain from moderating their foreign currency lending. And indeed Access bank which made the deepest cuts to its foreign-currency lending over the past year.
The World Bank says despite accelerated progress over the past decade, the world is expected to fall short of the SDG 7 target. In its just-released 2020 edition of the Energy Progress Report, the World Bank says under current policies, an estimated 620 million people would still lack access to electricity in 2030, and 85 per cent of them will be in sub-Saharan Africa. Makhtar Diop, the Vice President for Infrastructure at the World Bank joins CNBC Africa to discuss the findings of this report.
In the wake of the COVID-19 pandemic, Ghana has rolled out some palliatives including a 600 million cedis stimulus package for small and medium scale businesses with the aim of minimising the exposure of these businesses to the economic fallout of the pandemic. Joining CNBC Africa to discuss this initiative is Kosi Yankey-Ayeh, Executive Director of the National Board for Small and Medium Scale Industries in Ghana.
Capital imported to Nigeria’s oil and gas sector in the first quarter of the year was about 10.1 million dollars according to data by the National Burea of Statistics. The bureau also says the oil and gas sector grew by 5.06 per cent, recording an average oil daily production of 2.07 million barrels per day in the same quarter. Oyeyemi Oke, Oil and Gas Lawyer and a Partner at A02 Law joins CNBC Africa for more.
Year-on-year growth in Nigeria’s non-oil sector was slower by 0.93 percentage points in the first quarter of the year, that’s according to recent data from the National Bureau of Statistics. As the Covid-19 pandemic continues to stifle international trade, Akin Laoye, Executive Director at FTN Cocoa Processors joins CNBC Africa to discuss how this pandemic is affecting dynamics for Nigeria's non-oil exports.
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Hospitality Group Tsogo Sun Hotels reported a 31 per cent plunge in full year headline earnings per share, with Covid-19 resulting in demand from international tourist retracting in the fourth quarter, due to global lock-downs.
Nampak swung to a half year loss of R2.4 billion as revenue plunged and it impaired its Angola and Nigeria assets by R3 billion, which is four times its market value. The also warned that future profits were in South Africa were at risk from the ban on alcohol sales due to Covid-19 lock-downs. Nampak CEO, Erik Smuts joins CNBC Africa for more.
Research shows that children have a lower rate of contracting the Coronavirus and bringing infections to the household. This should provide comfort to South African parents that are in two minds about sending their kids back to school next week, when physical teaching is set to resume. Epidemiologist, Dr Boshoff Steenekamp joins CNBC Africa for more.
Property Group Rebosis, has partnered with government to roll out testing stations for Covid-19 outside its shopping malls in Pretoria – South Africa’s capital. However, foot traffic into these malls is expected to have dived due to the virus lock-downs prevented non-essential stores from trading. Rebosis is yet to release its interim results. Rebosis CEO Sisa Ngebulana joins CNBC Africa for more.
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