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<p>Traders at UBA expect another bearish session in the bills market as the interbank market becomes tighter after bond auction settlements. Kenneth Onuoha, Team Member, Assets and Liabilities at UBA joins CNBC Africa for more mid-week market updates.</p>


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UBA: Tight interbank market drives bear run

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Driving Gauteng’s Automotive Industry

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<p>As investors move to fund their bond auction settlements amid tight liquidity in the money market, traders at Access Bank say they expect the sentiments to persist. Kinskin Ukeje, Treasury Team Member at Access Bank, joins CNBC Africa for a market update.</p>


Tight liquidity dampens sentiment

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<p>In 2023, 16 per cent of the total venture capital in Africa was directed towards women-led enterprises, emphasizing a shift towards gender equity in the business landscape. In this episode of Startup Caps, we take a deeper look into gender lens investing.</p>


Startup Caps EP3: Gender lens investing

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<p>The Forbes Under 30 Africa Summit returned to Gaborone, Botswana for its 2024 edition. This annual gathering of innovators and impact-minded young entrepreneurs and leaders convened to inspire the next generation in areas key growth areas. This Highlights special brings key voices from the summit.</p>


Forbes Under 30 Africa Summit 2024: Highlights Special

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<p>Analysts at Meristem expect the bearish mood in the Nigerian equities market to persist and do not foresee any positive triggers that could sway the market direction into the green zone. Meanwhile, the securities firm notes the bond auction holding today might hinder flow of funds into the local bourse. Esther Otusanya, Senior Investment Research Analyst at Meristem joins CNBC Africa for more market updates as the earnings release frenzy simmers down.</p>


Will Nigeria’s equities go cautious on earnings wrap up?

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<p>As the 16th Edition of the U.S-Africa Business Summit draws to a close, delegates from both regions share their knowledge, expertise and solutions on best practices to strengthen relationships, trade and partnering to accelerate Africa’s industrialization.</p>


U.S.-Africa Business Summit 2024: Partnering to Accelerate Africa’s Industrialization

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<p>Introducing the game-changers driving Rwanda&#8217;s agro-industry revolution, where strategic investments converge with fertile lands, efficient cargo plane networks, global markets, premium quality goods, and cutting-edge modernization efforts.</p>


Game Changers: Fields of Innovation: Modernizing Agriculture for National Growth

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<p>Funding pressures eased at the interbank window as system liquidity improves. Meanwhile, Traders at Access Bank say investors continue to exit their winnings in the T-bills secondary market following this week’s Primary Market Auction. For the bond side, the market maintains a cautious trading approach due to next week’s 450-billion-naira auction. Oladimeji Obasa, Treasury Team Member at Access Bank joins CNBC Africa for more market updates.</p>


Funding pressures ease at interbank window

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<p>Shaping the Future of a Connected Africa, under the theme &#8216;Unlocking Growth Beyond Connectivity&#8217; looks at best practices to spearhead opportunities in Africa to use technology to improve economic opportunities. This thought leadership panel brings voices from different regions on how to shape Africa’s digital futures leadership.</p>


Connected Africa Summit 2024: Thought Leaders Voices: Shaping Africa’s Digital Future

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<p>The 16th U.S.-Africa Business Summit in Dallas, Texas brings together U.S. and African public and private sector executives including Heads of State, international investors, U.S. and African government officials, and multilateral stakeholders. The opening session will highlight some of the milestones reached and will layout how both regions can benefit from a mutual relationship.</p>


Opening Ceremony of the 16th U.S.-Africa Business Summit

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<p>In the second episode of STARTUP CAPS, we unpack where the capital is going when it comes to new ventures in Africa. We take a deeper look into the fintech sector, which attracted a whopping $641 million in investments across the continent in 2023.</p>


Startup Caps EP2: Fintech opportunities in the digital era of AI


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-2151125823-820x547.jpg" alt="" class="wp-image-484355" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-2151125823-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-2151125823-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-2151125823-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-2151125823-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-2151125823-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-2151125823-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">NEW YORK, NEW YORK &#8211; MAY 02: President of Botswana Mokgweetsi Masisi speaks onstage during Global Citizen NOW 2024 at Spring Studios on May 02, 2024 in New York City.  (Photo by Noam Galai/Getty Images)</figcaption></figure>



<p>Botswana, the world’s largest diamond producer, says it’s closely following BHP Billiton’s battle to buy Anglo American, which controls their diamond venture through De Beers.</p>



<p>President Mokgweetsi Masisi told CNBC Africa at the U.S.-Africa Business Summit in Dallas, Texas that while no-one had approached Botswana about the matter, the government would defend its interests in De Beers, in which it owns 15 percent. De Beers and the Botswana government jointly co-own Debswana Diamond, the largest diamond producer in the world by value.</p>



<p>“The value of De Beers is fundamentally created by Botswana. Without Botswana De Beers doesn’t exist,” he said in an interview with Fifi Peters.</p>



<p>Australian company BHP Billiton, the world’s largest miner, has offered about $39 billion for London-based Anglo American’s copper mines, minus its Botswana and South African assets in Debswana, Kumba Iron Ore and Anglo American Platinum. Anglo has rejected the overture arguing it undervalues its initiatives to unlock value for shareholders.</p>



<p>Analysts say BHP might be mulling a second bid and could face competition from commodities producer Glencore. South African Mines Minister Gwede Mantashe, who has met with Anglo executives, has said he is watching developments.</p>



<p>“Well, we remain laser focused on the developments because we clearly are an interested party,” he said. “I also want to state for the record that the value of De Beers is fundamentally created by Botswana. Because without Botswana, De Beers doesn&#8217;t exist.”</p>



<p>BHP has proposed that Anglo sell its shares in units Anglo Platinum and Kumba Iron Ore as an option to exit the South African assets it does not want included in the deal. It hasn’t pronounced on De Beers.</p>


Global Citizen NOW 2024 – Day 2

Botswana says it will protect its diamond interests as BHP Bids for Anglo American

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<p>Traders at UBA say minimal activity is seen on selected maturities as today’s ₦179.36 billion T-bills auction takes centre stage. Meanwhile, cherry-picking activities are seen across the bond curve. Kenneth Onuoha, Team Member, Assets and Liabilities at UBA joins CNBC Africa for more market updates.</p>


UBA: Investors await outcome of primary auction


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="450" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/BRVM-Transcribe-Image-1-820x450.png" alt="" class="wp-image-483973" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/BRVM-Transcribe-Image-1-820x450.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/BRVM-Transcribe-Image-1-300x165.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/BRVM-Transcribe-Image-1-160x88.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/BRVM-Transcribe-Image-1-768x422.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/BRVM-Transcribe-Image-1.png 993w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<p>Cote d&#8217;Ivoire expects to launch a commodities exchange later this year, seeking to provide a marketplace for soft commodities key for the development of West Africa’s farming sector.</p>



<p>The exchange, to be based in Abidjan Cote d&#8217;Ivoire’s commercial capital, will initially trade kola nuts, cashew nuts and corn (maize), Edoh Amenounve, the CEO of the West African Regional Stock Exchange (BRVM), told CNBC Africa in an interview. Cocoa, the region’s dominant crop, will be added later, he said.</p>



<p>&#8220;We hope that we will start this year,&#8221; said Amenounve, who is pitching the BRVM and the commodities exchange to South African investors. &#8220;We are just trying to have all the operational tools in place in terms of informational system. If all these are ready, we will start this commodity exchange.&#8221;</p>



<p>Cote d&#8217;Ivoire is one Africa’s fastest growing economies, with 2024 growth forecast at 6.5 percent before moderating to 6.4 percent the following year, according to the International Monetary Fund. The country is the world’s largest exporter of cocoa with agriculture the mainstay of the economy at about 22 percent of gross domestic product.</p>



<p>Amenounve said apart from pitching the commodity exchange, he was also canvassing support for investment on the BRVM, the 8-member regional stock exchange which is the fifth largest on the continent. The JSE is Africa’s largest and oldest exchange. Growth is picking up across the region in spite of political instability in some countries, he said.</p>



<p>&#8220;Côte d&#8217;Ivoire is the lead in our region and the economic growth in Côte d&#8217;Ivoire is an average 7% during the last 10 years. And for the entire region, we are something in the region of about 6% GDP growth,&#8221; he said. &#8220;We have oil and gas now in Côte d&#8217;Ivoire, in Senegal, in Niger. We have mining in Burkina Faso, in Mali. We think that the fundamentals are very strong and the investors can continue to invest in the West African region.&#8221;</p>



<p>He said South African investors currently own about 5 percent of the BRVM, a figure he wants to grow given the region’s expanding economies. While the JSE was a competitor for now and a clear leader, the future lay in African stock exchanges collaborating through the African Securities Exchanges Association, Amenounve said. </p>



<p>Investors can &#8220;access the 2,000 listed companies on all the exchanges in Africa so you can compare the performance of all these companies,&#8221; he said. &#8220;That is very important for me, I think we have done for the integration.&#8221;</p>



<p>&#8220;Yes, we started already in West Africa and what is important to know is that the integration of the capital markets in Africa is key for the development of our continent. We cannot stay small, small, small stock exchanges compared to the JSE and pretend to have the performance that we have in Asia or in Europe or in America. It is important that we talk together.&#8221;</p>


BRVM-Transcribe-Image-1

Cote d’Ivoire commodities exchange to be launched this year, BRVM CEO says


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="450" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Standard-Bank-JSE-Transcribe-Image-820x450.png" alt="" class="wp-image-483594" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Standard-Bank-JSE-Transcribe-Image-820x450.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Standard-Bank-JSE-Transcribe-Image-300x165.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Standard-Bank-JSE-Transcribe-Image-160x88.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Standard-Bank-JSE-Transcribe-Image-768x421.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Standard-Bank-JSE-Transcribe-Image.png 995w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<p>Standard Bank Group, Africa’s largest bank by assets, forecasts increased South African corporate activity and stock market listings in the second-half of the year after elections later this month.</p>



<p>“Certainly the conversations we&#8217;re having with corporates does suggest that we&#8217;re going to start to see a recovery,” Richard Stout, Head of Equity Capital Markets SA and Sub-Saharan Africa at Standard Bank Group, told CNBC Africa’s Power Lunch Southern Africa show. “How quickly that comes through I think depends on I guess the election outcome and how quickly confidence returns but certainly anecdotally yes we&#8217;re certainly forecasting a busier back end to this year and certainly a busier 2025.”</p>



<p>Power utility Eskom has provided 40 days of uninterrupted power supply since last month, lifting business activity across the country, according to both the ABSA Purchasing Managers Index and the S&amp;P Global South Africa Purchasing Managers’ Index which rose to 50.3 in April from 48.4 in March, its highest reading since February.</p>



<p>South Africans vote for new national and provincial governments on May 29 with the ruling African National Congress (ANC) expected to suffer a reduced majority. Most analysts forecast the ANC to dominate any coalition government should it fail to win more than 50%, ensuring a continuation of its mixed economic policies and collaboration with the private sector.</p>



<p>The collaboration helped the country narrowly avoid a recession in the fourth quarter of 2023 and the economy is seen growing by more than one percent this year, after expanding by 0.6 percent last year.</p>



<p>The JSE, Africa’s largest and oldest stock market, has been beset by delistings as the economy struggled with about 278 companies on its main board versus more than 600 companies in 1998. In response, the JSE last month launched its biggest drive to lure more companies to the exchange.</p>



<p>Stout says those efforts were positive but will take time to bear fruit.</p>



<p>“I certainly think what the JSE are trying to implement here is a positive, and I certainly think it&#8217;s going to help corporates raise capital more efficiently on the JSE,” he said. “And hopefully that will encourage more companies to consider a listing. (But) I think as much as this helps deal with the supply side of the equation, I think we do still need to make sure that we&#8217;re giving the demand side enough incentive to support the types of companies that are going to benefit from these rules.”</p>


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UBA: Tight interbank market drives bear run

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Forbes Under 30 Africa Summit 2024: Highlights Special

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Startup Caps EP2: Fintech opportunities in the digital era of AI

Botswana says it will protect its diamond interests as BHP Bids for Anglo American

UBA: Investors await outcome of primary auction

Cote d’Ivoire commodities exchange to be launched this year, BRVM CEO says

Standard Bank Sees Increased South African Listings, Corporate activity after elections

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CNBC Africa

UBA: Tight interbank market drives bear run

Driving Gauteng’s Automotive Industry

Tight liquidity dampens sentiment

Focus On: Highlights Special of the Africa Gaming Expo 2024

Startup Caps EP3: Gender lens investing

Forbes Under 30 Africa Summit 2024: Highlights Special

Will Nigeria’s equities go cautious on earnings wrap up?

U.S.-Africa Business Summit 2024: Partnering to Accelerate Africa’s Industrialization

Game Changers: Fields of Innovation: Modernizing Agriculture for National Growth

Funding pressures ease at interbank window

Connected Africa Summit 2024: Thought Leaders Voices: Shaping Africa’s Digital Future

Opening Ceremony of the 16th U.S.-Africa Business Summit

Startup Caps EP2: Fintech opportunities in the digital era of AI

Botswana says it will protect its diamond interests as BHP Bids for Anglo American

UBA: Investors await outcome of primary auction

Cote d’Ivoire commodities exchange to be launched this year, BRVM CEO says

Standard Bank Sees Increased South African Listings, Corporate activity after elections

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