Nigeria’s non-oil revenues fell by 17 per cent in the fourth quarter of 2018 from the preceding quarter, the government’s non-oil revenue was below the proportionate quarterly budget estimate of 1.4 trillion naira. Meanwhile, The Economic Community of West African States (ECOWAS) and African Development Bank (AfDB) have signed a 22.7 million-dollar agreement for the Abidjan-Lagos corridor highway development project to increase trade and investment among member states. Obiora Madu, CEO Multimix Group joins CNBC Africa for more.
We are in a battle against time to curb the COVID-19 pandemic. While tackling the Coronavirus pandemic has grabbed global attention, a new crisis that could claim a lot more lives is brewing in Africa: massive locust invasions.
“The COVID-19 pandemic, one of the world’s most significant events, has resulted in cessation of economic activities that will lead to a significant decline in GDP, an unprecedented social disruption, and the loss of millions of jobs,” writes Banji Oyelaran-Oyeyinka.
The African Development Bank Group has announced the creation of the COVID-19 Response Facility to assist regional member countries fight the pandemic. The facility provides up to $10 billion to governments and the private sector. Khaled Sherif, Vice President for Regional Development, Integration and Business Delivery at the African Development Bank joins CNBC Africa for more.
Replying to an article recently published in the French newspaper, “Le Mond”, President of the African Development Bank, Akinwumi Adesina, has denied allegations questioning the transparency and governance systems of the bank.
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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.
After a two month ban on liquor sales, stores reopened today and thirsty consumers were waiting in line to replenish their stock. While the industry expects liquor sales to spike in the coming days, the ban on sales during the Covid-19 lock-downs has cost over 117,000 jobs. That’s according to the South African Liquor Brand owners Association (SALBA). SALBA CEO, Kurt Moore joins CNBC Africa for more.
The rand is rallying. Eight million people are back at work. Petrol will cost one rand and eighteen cents per litre more from next month and the latest Absa Purchasing Managers Index business activity sub-index rebounded to 43.2 in May after collapsing to an all-time low of 5.1 in April. The magnitude of the increase is surprising, given that most parts of the manufacturing sector could only operate at 30 per cent of employment capacity in May due to lockdown. Miyelani Maluleke, Economist at Absa Corporate and Investment Banking joins CNBC Africa for more.
Last night the Rwandan Prime Minister's office announced that the previously slated date of reopening of passenger motorbikes - which was meant to be today - has been extended until further notice. As the country gears up to reallow taxi-motorbikes to start operating again after over 2 months of being out of service due to Covid-19 measures; tech and mobility company, Pascal Technology has been hard at work equipping them to meet new regulatory measures. CNBC Africa spoke to Pascal Ndizeye, CEO and Founder, Pascal Technology to gauge their progress.
Sanlam Emerging Markets and its partners on the African continent invest over $12 million to fight COVID-19
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While Germany has one of the highest numbers of coronavirus cases in Europe, its death rate is significantly lower than its neighbors. CNBC’s Timothyna Duncan explores the strategies the country has employed to manage the spread of the disease. ----- Subscribe to us on YouTube: http://cnb.cx/2wuoARM Subscribe to CNBC International TV on YouTube: https://cnb.cx/2NGytpz Like our Facebook page: https://www.facebook.com/cnbcinternational Follow us on Instagram: https://www.instagram.com/cnbcinternational/ Follow us on Twitter: https://twitter.com/CNBCi...
“Stop this culture of frivolous allegations” former World Bank Treasurer Arunma Oteh defends African Development Bank President
"So my appeal really is that we dispense of this issue. That we stop this culture of frivolous allegations around the times of elections. And allow the African Development Bank to support the African continent at this important time.”
With all of the changes to this year’s Pride lineup, many are left wondering how these virtual events will maintain their support of small LGBTQ+ owned businesses, like restaurants, bars, and brick-and-mortar stores, as well as LGBTQ+ focused nonpr
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