Nigeria’s inflation came in at 11.4 per cent in December 2018, a seven-month high from 11.28 per cent recorded in November. Food Inflation was higher at 13.56 per cent from 13.3 per cent in November. Peju Siyanbola, Research Analyst at FSDH Merchant Bank joins CNBC Africa to unpack the numbers.
In the past couple of weeks since the total lock-down was lifted in Rwanda, we’ve seen the number of Covid-19 confirmed cases fluctuate, at some point even dropping down to zero. Some people have taken the falling numbers to mean progress in the fight against the virus, but now as the numbers begin to build again, the uncertainty has returned. So what does it all mean? And how should we be reacting? Epidemiologist, Enatha Mukantwali joins CNBC Africa for more.
At a time of huge uncertainty in all areas of the economy, including the creative industries, many are trying to understand the on-going impact of COVID-19 on our sector. Pierra Ntayombya, CEO, Haute Baso joins CNBC Africa to outline what is being done to create support for the creative industry.
Closing Bell West Africa
Nigeria’s Minister for Finance, Budget and National Planning, Zainab Ahmed says Nigeria's economy could shrink by as much as 8.9 per cent this year in a worst-case scenario without stimulus. Ahmed stated that the contraction could reach 4.4 per cent in a best-case scenario, without any fiscal measures. But with a stimulus, the contraction could be kept to just 0.59 per cent. Pabina Yinkere, Chief Investment Officer at Sigma Pensions joins CNBC Africa for more.
In Kenya diesel prices fell by the largest margin in 13 years on lower global crude prices. The prices would have fallen deeper were it not for the new levies imposed on fuel last month following changes to the laws that also introduced tax reliefs to protect the economy against the COVID-19 pandemic. Moreover, the country will continue with plans to build a $1.135 billion pipeline from Lokichar to Lamu to boost its crude oil exports despite the concern over falling prices of the commodity in the global market. Odhiambo Ramogi, Economic Analyst joins CNBC Africa for more.
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Many parents are anxious about sending their kids back to school next week with the risk of Covid-19 infections in the classrooms quite high. Similarly, the risk of compromising the academic year by keeping kids at home until a treatment or cure is found is equally as high. Private school group Curro has launched an online schooling platform to help parents keep their kids educated and safe. Andries Greyling, CEO of Curro joins CNBC Africa for more.
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This time last year Africa was celebrating the milestone that free trade on the continent would soon be a reality. Prior to Covid-19, the free trade Africa deal was due to be implemented on the 1st of July. Africa Day this year is, however, less joyful as the continent grapples with the prospect of deep recession and in some parts, depression with the coronavirus health crisis fast muted into an economic and financial one. Joining CNBC Africa to discuss Africa’s prospects in 2020 is Alexander Forbes Chief Economist, Isaah Mhlanga and Head of Strategic Slients, Lesiba Mothata.
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