In a surprise move, Nigeria’s Monetary Policy Committee kept its key policy rate unchanged at 13.5 per cent and also retained all its policy parameters. CBN Governor Godwin Emefiele also stressed that tightening the MPR could reduce money supply and also aggregate demand, while loosening at this time could exacerbate the already worsening inflation. CNBC Africa’s Wole Famurewa breaks down the MPC’s decision with Charles Robertson, Global Chief Economist of Renaissance Capital, Bismarck Rewane, CEO of Financial Derivatives and Lanre Buluro, Director of Chapel Hill Denham, and Abdulrahman Yinusa, Governing Council Member of the Chartered Institute of Bankers in Nigeria….
One is left stunned and bewildered that the leader, supposedly of the free world, only interest and concern is for the police to turn on its people, when what is needed and required, is leadership, compassion, understanding, empathy and solidarity at a time of multiple distress, pain and anguish.
Minister in the Presidency Jackson Mthembu said government will challenge a court ruling that found lock-down level 3 and 4 regulations unconstitutional.
The months between May and August, and again in December, are often referred to in Rwanda as “Wedding Season”; a time when tens if not hundreds of couples take advantage of the good weather and visiting family members to have their wedding ceremonies. CNBC Africa spoke to Co-Founder of Tamiim Beauty, Ivan Mugemanyi for more.
Nigeria’s National Assembly has approved the $5.5 billion external loan request of the executive arm of government to fund the country's budget deficit. While addressing the revised Medium Term Expenditure Framework and Fiscal Strategy Paper, the lawmakers raised the oil price benchmark to $28 per barrel from the $25. Dayo Amzat, Managing Director and CEO of Zedcrest Capital joins CNBC Africa for more.
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In Rwanda, the country has recorded two death from Covid-19, at a time when the Government has eased the lock-down that had been in place for a month and half by opening up almost all sectors of the economy though with a number of precautionary measures to keep the virus in check. At the same time a French court ordered the Rwandan genocide suspect Felicien Kabuga to be handed over to a United Nations tribunal for trial. Hudson Kuteesa, Journalist with the Newtimes joins CNBC Africa for more....
The Bureau of the Board of Governors of the African Development Bank has agreed to authorize an independent review of the report of the Ethics Committee of the boards of directors. The Bureau notes that it stands by the ethics committee's work as it was performed in accordance with the applicable rule under its resolutions. Ronnie Ntuli, Chairman of Thelo DB joins CNBC Africa for more.
Nigeria’s Petroleum Products Pricing Regulatory Agency has removed the cap on the price of Premium Motor Spirit, also known as petrol, giving marketers the freedom to fix the price of the commodity and sell above the price stipulated by the body.
FROM THE MAYOR’S DESK Halfway through the month of May, we had fruitful engagements...
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...
Op-Ed: As COVID-19 presents Africa with conflicting choices between relief for today and investing for tomorrow, here’s why it needs to consider digitization
Investing in digitization will deliver huge dividends to Africa.
When NBA star Rudy Gobert tested positive for the coronavirus in early March, it set off a chain reaction of professional sports cancellations, the likes of which the country has never seen. Now, three months later, sports are slowly beginning to com
Most South African companies expect profits to be hit by coronavirus and the carnage the virus will bring to the economy. The degree of stress to the balance sheet however will depend on the overall industry, liquidity and management risk. Joining CNBC Africa to dissect which bottom lines will be most infected by Covid-19 is Phibion Makuwerere, Analyst at Intellidex.
This week the world was united in the fight against two pandemics – the coronavirus and racism. The latter was triggered by the recent death of George Floyd, the latest victim of police brutality in the US, which triggered mass protests against discrimination. One of the individuals that took a stand against both pandemics is internationally acclaimed Ghanian musician Stonebwoy. He put on a show, from his home, to shine the light on Covid-19 and racism, raising money to support homeless youth in Ghana.
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