What are opportunities and challenges in Africa’s Mining industry? Abdulsamad Rabiu, Chairman BUA Group joins CNBC Africa from Davos on the side-lines of the World Economic Forum to share his thoughts on this.
The World Bank says the outbreak of the COVID-19 pandemic is expected to push five million more Nigerians into poverty this year as the pandemic is threatening the ability of Nigerian households to generate income to meet their basic consumption needs. Bismarck Rewane, CEO of Financial Derivatives joins me from Lagos for this conversation.
After two stints as acting CEO of Old Mutual, the pan- African Financial services group has made official Iain Williamson’s role as head of the company. Williamson first served as acting Old Mutual in 2017 and again in 2019 when the company fired its former CEO Peter Moyo following a conflict of interest that resulted in breakdown of trust and confidence. Iain Williamson joins CNBC Africa for more.
No doubt Nigeria's currency has come under pressure in recent months; the Central Bank of Nigeria says it is working towards the gradual unification of exchange rates. But what does the CBN's recent move in asking lenders to bid for dollars at 5 per cent above the official rate mean for the markets going forward? Victor Aluyi, Head of Portfolio Management at Comercio Partners joins CNBC Africa for more.
Just last week finance minister Tito Mboweni outlined the emergency budget to nurse South Africa through the Covid-19 crisis. A big part of this budget was a plan for South Africa to get its debt under control within four years. Fitch Ratings, the agency that downgraded South Africa in April doubts whether South Africa can do this. CNBC Africa’s Chris Bishop spoke to Jan Friederich, Senior Director of Fitch Ratings for more.
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But in an open letter to the Geneva-based agency, published on Monday in the Clinical Infectious Diseases journal, 239 scientists in 32 countries outlined evidence that they say shows floating virus particles can infect people who breathe them in.
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The rosy outlook stands in stark contrast to the dismal industrial landscapes of other economies still fighting COVID-19. Factory output plunged further in May from a year earlier in Japan, South Korea and the United States. Euro zone manufacturing output fell by a record 28% in April.
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