Vera Songwe, the Under Secretary-General and Executive Secretary of UNECA is confident that multilateralism will return to the global trade terrain in different forms, and that Africa will contribute a new framework.
To pay or not to pay is the question many African countries are grappling with even as they swim in an ocean of foreign debt, amid the global pandemic. African leaders are now calling for debt cancellation to enable them channel their resources to saving lives and salvaging their economies. CNBC Africa spoke to Dr. Andrew Mold, Chief Regional Integration and AfCFTA, Sub-Regional Office for Eastern Africa, UNECA, for more.
“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.
In the headline, as the impact of the coronavirus outbreak continues, manufacturers, producers and importers in Rwanda are seeking alternative sources of raw materials with China’s production and export capacity expected to slow down. In other news – a new report from UN Economic Commission for Africa has indicated that the successful implementation of the African Continental Free Trade Area could help the Eastern African countries earn about $1.8 billion and revive the region’s intra trade. Finally, Rwanda proceeds with the preparation of the Commonwealth Forum despite the outbreak of the coronavirus. CNBC Africa is joined by Hudson Kuteesa, Journalist of The New Times for more.
Its 133 days until the start of trading under African Continental Free Trade Agreement, so far 54 Countries have signed up and just about 29 countries have ratified the agreement. Nigeria's Minister for Industry, Trade and Investment says this ratification will only take place if Nigeria is sure that its industries will be protected. To discuss Nigeria’s trade strategy and the journey to ratify the AfCFTA, Tilewa Adebajo, CEO of CFG Advisory and Mansur Ahmed, President of the Manufacturers Association of Nigeria both join CNBC Africa for more.
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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
As we go through this global pandemic together, it is the little things we miss. A high five, a handshake, a walk...
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
Today, June 1st marks our 13th Anniversary at CNBC Africa. As we celebrate our work and experiences at a time when the world is subdued by the coronavirus, here are views of some of our top analysts and friends from over the years....
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