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<p>This week’s auctions are fueling a quiet market tone. The latest is today’s 409 billion naira T-bills auction as investors await the PMA results. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa for more market movements.</p>


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UBA: Investors await outcome of midweek PMA

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<p>The domestic equities market has largely remained bearish this week attempting to reverse losses majorly due to bargain hunting on Oando, Stanbic and Seplat. Patrick Ejumedia, Head of Research at Sterling Asset Management and Trustees joins CNBC Africa for more market movements.</p>


Can Nigeria’s equities reverse bearish run?

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<p>Stakeholders from both the public and private sectors converge at the Africa Social Impact Summit 2024 to deliberate and foster sustainable solutions to Africa’s most pressing challenges. CNBC Africa brings you highlights from the 2-day event.</p>


Africa Social Impact Summit 2024: Highlights Special

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<p>MTN Group, Africa’s largest mobile phone company, added 3 million subscribers in the first quarter, taking the total number of its customers to about 288 million. This, despite difficult macro-economic conditions including high inflation in its key markets. CEO &#038; Group President, Ralph Mupita discusses the company&#8217;s outlook in a challenging environment.</p>


MTN Group Interim Results with CEO Ralph Mupita

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<p>Transport and storage are two key aspects of international trade. Air and road transport accounted for 32 per cent of the country&#8217;s trade value in 2022. As Gauteng is a landlocked province, airfreight and road transport are vital for economic growth. This episode of Eye on OR Tambo SEZ will explore the potential impact of transport and logistics sector to include the value chain.</p>


Eye on OR Tambo SEZ: Gauteng’s logistics & warehouse sector

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<p>Investors are taking position ahead of 2 bond auctions slated for next Monday. The first is the opening subscription for Nigeria&#8217;s maiden 500-million-dollar domestic USD bond. The second is the 190-billion-naira August bond auction. Meanwhile, Traders at UBA say the prevailing market sentiments in the domestic space remain calm as the week draws to a close. Kenneth Onuoha, Team Member, Assets and liabilities at UBA joins CNBC Africa to discuss likely investors&#8217; moves.</p>


Will Nigeria’s bond offers secure investors’ buy-in?

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<p>The Africa50 GSM 2024 aims to accelerate infrastructure development and investment in high-impact sectors. As Madagascar is the host country for this year&#8217;s Africa50 GSM, this Focus On will place Madagascar&#8217;s economy under the spotlight and highlight crucial areas in need of investment as the country strives for a slice of the green funding pie.</p>


Focus On: Africa50 General Shareholder’s Meeting 2024

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<p>This episode of  highlights Rwanda&#8217;s growing International Trade Expo, which attracted more than four hundred thousand attendees this year, showcasing the country’s expanding role in global commerce. We explore how this event is driving economic growth and fostering international business connection.</p>


Rwanda’s Expanding Trade Expo

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<p>Investors have their attention fixed on Nigeria&#8217;s first ever dollar-denominated domestic bond. The government is hoping to raise $500 million from local and foreign investors. Emmanuel Orji, Treasury Team Member at Access Bank joins CNBC Africa for more market movements.</p>


Investors anticipate Nigeria’s maiden domestic dollar bond

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<p>The Arab Bank for Economic Development in Africa says it is finalising its 5-year strategy which will be released later this year to unveil new innovative products for the African continent. CNBC Africa in this Focus On unpacks the success of the BADEA 2030 strategy and what to expect in the 2074 framework.</p>


Focus On: Understanding BADEA’s 2030 strategy & 2074 framework

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<p>The Simandou iron-ore mine and infrastructure project will allow the export of up to 120-million tonnes of mined iron-ore a year. This Focus On segment brings more insight to the ownership of the Compagnie du Transguineen.</p>


Focus On: Insights to the Simandou project

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<p>Traders at UBA say investors are tactically increasing exposure ahead of Monday’s primary market auction. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa to discuss market sentiments.</p>


Investors position ahead of bond auction

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<p>The Arab Bank for Economic Development in Africa clocks 50 reflecting on the journey of impact and growth marked by partnerships between Africa and the Arab world. CNBC Africa in this special broadcast brings you highlights of this year’s celebration in Accra, Ghana featuring the introduction of the Arab-Africa Financial Consortium and much more.</p>


Focus On: BADEA 50th Anniversary Highlights

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<p>This episode of Focus On explores financial inclusion in Africa through economic growth, alternative data and breaking barriers to access. We discover how increased credit access, young people’s optimism and the role of technology are shaping Africa’s future.</p>


Focus On: Driving financial inclusion in Africa


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1153" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-scaled.jpg" alt="" class="wp-image-518815" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-1536x865.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Photo courtesy of Godfrey Mutizwa</figcaption></figure>



<p>Land borders in Africa are by nature intimidating places if you don’t know where you are going. First are the crowds, among them hangers-on and tricksters always looking for an opportunity for a quick buck. And then the officials, serious looking and rarely offering a smile.</p>



<p>But I was going home and as a veteran of Beitbridge, one of Africa’s busiest land borders, I was excited to be making the crossing for the first time since it was upgraded and modernised almost three years ago by Zimborders for some $300 million on a Build, Operate and Transfer basis.</p>



<p>On approaching the South African border however my excitement was tempered by a two to three-kilometre stretch of goods trucks – harking back to the bad days before the upgrade when it would take truck drivers as many as two weeks to cross – because of inefficiencies, corruption and in some cases just sheer volumes.</p>



<p>Beitbridge is one busy border post, providing the biggest trade link for the southern Africa hinterland comprising Zimbabwe, Zambia, the Democratic Republic of the Congo (DRC), Malawi and sometimes further afield to parts of western Tanzania. Between them, Zambia and the DRC are key global copper producers, while Zimbabwe’s new Chinese funded lithium mines now account for more than two-thirds of Africa’s lithium output, Bloomberg reports.</p>



<p>There are serious mineral volumes and capital equipment being moved here before counting manufactured goods that flow north for South Africa’s neighbours with no meaningful manufacturing bases of their own. But Zimborders was supposed to solve that, I consoled myself.</p>



<p>In an opinion piece published on our web page in March this year, Glynn Cohen, the Chairman of Zimborders wrote: ‘’This flagship project will undoubtedly be successful – improving efficiency, reducing congestion and transit fraud…already, it now takes a few hours for trucks to cross the border compared with up to a week before’’.</p>



<p>But I had not reckoned with the South African side of the border. The arrival hall was one mass of people when we arrived with queues stretching outside and no sign of any official intervention. With my nephew in tow, we squeezed inside, and I am ashamed to say, many `sorries’ later, we jumped the queue and an hour later were by the exit gates.</p>



<p>But the ordeal was just beginning. Unbeknown to me, the immigration lady who stamped my passport, had made a mistake and an eagle-eyed police officer at the exit gate spotted the error and promptly sent me back to the hoards inside the arrival hall. Many swear words later I was back at the exit gate but by then my transport was gone and so I had to walk to the Zimbabwean side, an experience I have been told could be hazardous.</p>



<p>I took off but was pleasantly surprised by the visible policing on the South Africa side. However, the minute you step on the Zimbabwean side, things change. Hawkers selling everything from roasted maize to cool drinks dotted the route even at 1am. And then the darkness! While the South African side was well lit, there were neither lights nor security until I reached the army post at the entrance to Zimbabwe. I made it without a scratch but truth be told I was shaken.</p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1153" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-scaled.jpg" alt="" class="wp-image-518816" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-1536x865.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Photo courtesy of Godfrey Mutizwa</figcaption></figure>



<p>A few metres later however Zimborders was there. True of border posts, the new building is imposing and it has to be said, impressive. The experience inside was even better, the whole exit process taking me half an hour. Thank you Africa Export-Import Bank and South African banks that funded this, I thought as we headed into the night.</p>



<p>So I must concede Mr Cohen was right. The upgrade has certainly made a huge difference from the corruption infested old post I had used for many years. However, the South African side has clearly not read the script and the experience got even worse when I returned, this time by bus. The hour I spent on the way out became four hours.</p>



<p>Put simply, the South African officials we encountered on the 12<sup>th</sup> of August 2024 didn’t care. We were grouped by our busses but the queue outside the arrival hall was one giant milling mass of people. One minute we were told to follow our driver inside, and the next we were chucked out because the official decided otherwise.</p>



<p>While all this is happening one could clearly see the officials sitting behind their desks chatting with nary a care in the world. You are shouted at like you are misbehaving children when those queues contain adults taking care of their households, working in the mines, running companies sustaining the economies of southern Africa.</p>



<p>It was shameful. But when you have done this crossing as many times as I have, you understand an immigration official wields absolute power. One word out of turn will take you and your fellow travellers to the back of the queue. You wait for this important man – it was mostly men – to stamp your passport without complaint.</p>



<p>So much for boosting intra-African trade. This was one bruising encounter that will take some time to heal but who is listening? While the Border Management Authority represents South Africa’s latest attempt to clean up its ports of entry, on the ground, I saw no change.</p>



<p>You can still cross the border without a passport for a thousand rand or more, a lady travelling beside me told me. Some 700 rand allows you to be given more days – as many as three months instead of a week, and 500 rand can enable you to jump the patient masses and get your passport stamped quicker.</p>



<p>For the record, I didn’t pay. All I did was push and hustle my fellow travellers for which I am truly sorry.</p>


20240812_003223

Chronicle of a Beitbridge border crossing

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<p>The treasury bills market witnessed a wide bid-ask spread as trades thin out on the 2025 papers. Analysts at Access Bank say they expect investors to continue to cherry-pick high-yielding papers. Dimeji Obasa, Fixed income Dealer at Access Bank joins CNBC Africa for a mid-week market review.</p>


Investors cherry-pick high-yielding T-bills

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<p>Focus On green manufacturing and logistics in Africa with Yango and Equitaine, showcasing pioneering efforts in sustainability. Discover how these industry leaders are transforming the continent&#8217;s industrial practices towards a greener future.</p>


CNBC Africa

UBA: Investors await outcome of midweek PMA

Can Nigeria’s equities reverse bearish run?

Africa Social Impact Summit 2024: Highlights Special

MTN Group Interim Results with CEO Ralph Mupita

Eye on OR Tambo SEZ: Gauteng’s logistics & warehouse sector

Will Nigeria’s bond offers secure investors’ buy-in?

Focus On: Africa50 General Shareholder’s Meeting 2024

Rwanda’s Expanding Trade Expo

Investors anticipate Nigeria’s maiden domestic dollar bond

Focus On: Understanding BADEA’s 2030 strategy & 2074 framework

Focus On: Insights to the Simandou project

Investors position ahead of bond auction

Focus On: BADEA 50th Anniversary Highlights

Focus On: Driving financial inclusion in Africa

Chronicle of a Beitbridge border crossing

Investors cherry-pick high-yielding T-bills

Focus On: Advancing green manufacturing & logistics in Africa

News Tips

Advertise With Us

CNBC Africa

UBA: Investors await outcome of midweek PMA

Can Nigeria’s equities reverse bearish run?

Africa Social Impact Summit 2024: Highlights Special

MTN Group Interim Results with CEO Ralph Mupita

Eye on OR Tambo SEZ: Gauteng’s logistics & warehouse sector

Will Nigeria’s bond offers secure investors’ buy-in?

Focus On: Africa50 General Shareholder’s Meeting 2024

Rwanda’s Expanding Trade Expo

Investors anticipate Nigeria’s maiden domestic dollar bond

Focus On: Understanding BADEA’s 2030 strategy & 2074 framework

Focus On: Insights to the Simandou project

Investors position ahead of bond auction

Focus On: BADEA 50th Anniversary Highlights

Focus On: Driving financial inclusion in Africa

Chronicle of a Beitbridge border crossing

Investors cherry-pick high-yielding T-bills

Focus On: Advancing green manufacturing & logistics in Africa

News Tips

Advertise With Us

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