Africa’s GDP will grow by an additional $500 billion a year over the next three years if it’s able to employ its youth says Akinwumi Adesina, the President of the African Development Bank.
According to a recent report by the International Labour Organization, the Covid-19 pandemic is inflicting a triple shock on young people. Not only is the pandemic destroying their employment, but it is also disrupting their education and training and placing major obstacles in the way of those seeking to enter the labour market. Jealous Chirove, ILO’s Employment Specialist for East Africa, for more on this.
More localisation, less globalisation – that’s what many are saying will be outcome of the Covid-19 pandemic following severe disruptions to global supply chains. This backdrop is expected to reverse the weak market fundamentals many South African focused companies have faced and could make some a good buy in the long term. That’s according to Wealth Management Group Oasis. Adam Ebrahim, Oasis Chief Investment Officer joins CNBC Africa for more.
Twenty eight banks are in the hot seat after the Competition Commission filed a new charge sheet against them to the Tribunal requesting they be prosecuted. The banks are accused of colluding to manipulate the dollar/ rand currency pair trading.to fix prices and divide markets, in contravention of the Competition Act. The banks now have an opportunity to respond to the charges. Hardin Ratshisusu, Deputy Commissioner of the Competition Commission joins CNBC Africa for more.
Capital Appreciation, a JSE fintech player raised its final dividend by over 17 per cent following an increase in annual revenue and profits. The payment solutions provider saw increased demand for its digital and cloud based services and said the Covid-19 pandemic has not impacted earnings negatively. Bradley Sacks, Joint CEO at Capital Appreciation joins CNBC Africa for more.
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