Tsogo Sun Hotels has released its first set of results since unbundling from the Tsogo Sun group. The hotel groups headline earnings per share dropped by 50 per cent to 5.2 cents per share. CNBC Africa’s Kopano Gumbi spoke to Marcel von Aulock, CEO of Tsogo Sun Hotels for more.
The global top 100 companies have continued to outperform industry peers even amid the market volatility caused by Covid-19. Microsoft, Apple Netflix and Tesla are amongst those who have seen increased market capitalisation during Covid-19, joining CNBC Africa for more is Alice Tomdio, Director of Capital Markets at PwC Nigeria.
The International Air Transport Association is urging governments in Africa and the Middle East to create alternatives to airline arrival quarantine, as this would allow economies to re-start whilst avoiding the risk of increasing Covid-19 cases. Muhammad Albakri, Regional Vice President for Africa and the Middle East at the International Air Transport Association joins CNBC Africa for more.
Sub-Saharan African PMI’s released by Markit Economics rose in June although business conditions in the six countries that were surveyed continued to weaken. Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking 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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