The COVID-19 shock has fuelled the biggest capital outflows from emerging markets on record in the first quarter, and the situation is unlikely to improve for the rest of the year. That’s according to research from the Institute of International Finance. Elina Ribakova, Deputy Chief Economist from the (IFF) Institute of International Finance joins CNBC Africa for more.
Data from Stears says Nigerian businesses are likely to be directly affected by the local spread of COVID-19, and many more would be impacted by the partial shutdown of the Nigerian economy. They also stress that most of the 40 million small businesses in the country are ill-equipped to handle a crisis of this scale. Michael Famoroti, Chief Economist at Stears joins CNBC Africa for more.
Traders say Nigeria’s April bond auction may not hold on the back of Nigeria's 14-day lockdown but adds that the Debt Management Office would keep paying this month’s coupons. Bankole Odusanya, Head of Fixed Income trading at UBA joins CNBC Africa for this discussion.
Analysts at UBS Global Wealth Management say the near term disruption in the financial markets as a result of the coronavirus pandemic presents potentially attractive entry points to the related longer-term themes.
Investors are taking a keen interest in banking stocks today but the Industrial goods sector is facing a steep decline. Dare Fajimolu, Chief Research Officer at Blue Vertex joins CNBC Africa for a recap of today’s trade.
Nigeria plans to withdraw $150 million from its sovereign wealth fund as part of its fiscal stimulus measures in response to the COVID-19 outbreak. Michael Ango, the Associate Director; Tax Advisory and Regulatory Services at Andersen Tax joins CNBC Africa to assess Nigeria's response to the pandemic.
Traders say Nigeria’s Fixed Income market has been relatively quiet as major market players are currently observing the lockdown. However, the market received CRR refund earlier in the week along with OMO maturities worth 384.1 billion naira, which spurred buying sentiments in the Treasury bill space. Nkem Azinge, Currency Trader at UBA joins CNBC Africa for a recap of this week’s trading at Nigeria’s fixed income and forex market....
The NSE banking Index is up over 3 per cent as investor take position in the banking sector. However, the consumer goods index has lost over 44 per cent in the first quarter of the year. Rotimi Fakayejo, Stockbroker and Capital Market Analyst joins CNBC Africa for more....
Nigeria’s Ogun state will commence its own 14-day lock down today following a directive by President Muhammadu Buhari. Meanwhile, bargain hunting in the equities market led to the first positive close of the week on Thursday. Jolomi Odonghanro, Head of Research at Cordros Capital joins CNBC Africa to discuss how this pandemic is impacting the markets in Nigeria....
Traders say interbank rates in Nigeria’s money market eased further on the back of the 177 billion naira OMO maturity repayment on Thursday. Bukky Aregbesola, Head of Fixed Income at Access Bank joins CNBC Africa to preview of today’s trading at Nigeria’s fixed income and forex market....
Saudi Arabia's ministry of energy says its crude output topped 12 million barrels for the first time in history on Wednesday, a day after the output cut agreement by OPEC and its allies elapsed. Oil prices shed nearly 70 per cent in the first quarter of the year and uncertainties around the coronavirus pandemic is still weighing on prices. Joining CNBC Africa to discuss how the global oil dynamics impacts Nigeria, Oyeyemi Oke, an Oil & Gas Lawyer and a Partner at A02 Law.
The Central Bank of Nigeria says it has obtained exemptions from the President to allow very skeletal operations in the financial system and money markets in order to keep the system in light operations during the lockdown in Lagos Abuja and Ogun states. Ahead of the lockdown tonight, Nnamdi Nwizu, Co-Managing Partner at Comercio Partners joins CNBC Africa for a focus on Nigeria’s fixed income and Forex market.
Moody’s downgraded South Africa’s sovereign credit rating to junk status on Friday evening and this has left has left government concerned and trembling in its boots to what extent that this might have on the economy. The downgrade coupled with the COVID-19 fears is bringing much stress to the rand as well as the markets. Joining CNBC Africa to unpack it all is Rashaad Tayob, Fund Manager at Abax Investments and Jacques Celliers, CEO of FNB.
As South Africa prepares to enter a 21 day national shut down from Thursday evening, the world is left to digest the stark losses that have been seen in global markets over the past 3 months due to the Coronavirus pandemic. Joining CNBC Africa to unpack the ways in which investors can navigate the current economic crisis is Han Tan, Market Analyst at FXTM.
This week Zimbabwe suspended the transfer of local shares in dual-listed companies to foreign bourses for the next 12 months. Joining CNBC Africa to unpack more on this and the developments of the declaration of COVID-19 being a national disaster in Zimbabwe is Batanai Matsika, Head of Research at Morgan & Co.
This afternoon we saw the South African Reserve Bank's response to COVID-19 a deadly virus that has markets panicking. The bank cut rates by 100 basis points, is it enough? Joining CNBC Africa is Mamello Matikinca-Ngwenya, Chief Economist at FNB, Fani Titi, CEO of Investec, Peter Attard Montalto, Head of Capital Markets Research, Intellidex and Keillen Ndlovu, Head of Listed Property Funds at Stanlib....
In the era of COVID-19, it is business unusual? Covid-19 has resulted in mass production shutdowns and supply chain disruptions. It is also having implications for private equity. Joining CNBC Africa to give insight are Kieran Whyte, Partner, Head of the Energy, Mining and Infrastructure Practice at Baker McKenzie and Graham Stokoe, Africa Private Capital Leader at EY Africa.
The rand crashed through the critical 17 to the dollar mark despite increased stimulus measures, which have failed to curb fears around the coronavirus. South Africa has now confirmed the number of COVID-19 cases are at 116. Several which are now through local transmission. Wichard Cilliers, Chief of Dealing, TreasuryONE joins CNBC Africa for more....
Central banks and finance ministers around the world have been scrambling for a solution to curb fears over covid-19 and prevent a deep global recession. What coronomics should our own country be following as the South African Reserve Bank starts its two-day monetary policy committee meeting tomorrow? Economist, Duma Gqubule and Isaah Mhlanga, Chief Economist at Alexander Forbes join CNBC Africa to give insight.
Globally central banks are responding to the devastation that coronavirus is causing to their economies. The Bank of England reduced its interest rate ahead of its scheduled meeting and now the US Federal Reserve has introduced a stimulus package to shield their economy from the impact of coronavirus. But is this enough to stave off long term economic harm? Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM joins CNBC Africa for more.
As global markets hit red once again in trade this morning we take a look at the volatility that is being seen of the Zimbabwe stock exchange. Batanai Matsika the Head of Research at Morgan & Co joins CNBC Africa for more.
President Cyril Ramaphosa has released the PIC report and CNBC Africa's Kopano Gumbi unpacks the key highlights.
Joining CNBC Africa to discuss emerging markets is Mark Mobius, Founding Partner, Mobius Capital Partners.
Joining CNBC Africa to discuss the global markets is Dylan Bester, Director, Skycastle International Investments....
After shedding 2.4 per cent days ago, the sell-offs continue at the Nigerian bourse as the NSE All Share Index continues to slide for the third straight session as investors dump banking stocks. Temitope Jolaoso, Analyst at Financial Derivatives joins CNBC Africa to review trading session.
Moody’s has downgraded Angola’s sovereign rating to B negative with a stable outlook pricing in the impact of lower oil production and lower oil prices. Joining CNBC Africa for today’s Africa Exchange segment is Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking.
Amid massive shortages, Amazon is only allowing hospitals and government agencies to order items like N95 masks and COVID-19 diagnostic kits. Now, third-party sellers on Amazon are stepping up to help, and repositioning their small businesses to surv
“I would like to appeal to all large businesses not to resort to force majeure and stop paying their suppliers and rental commitments , as such practice has a domino effect on all other businesses dependent on that chain,”
"If that decision is made it would severely impact our work here in Africa,” says Moeti.