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<p>The 6th edition of the Namibia International Energy Conference 2024 is taking place under the theme: ‘Reimagine Resource-Rich Namibia: Turning Possibilities into Prosperity&#8217;. Join CNBC Africa as we bring you insights from energy stakeholders, the Namibian government and investors on Namibia&#8217;s energy landscape and the potential to foster partnerships for energy industry growth.</p>


NIEC 2024: Reimagine Resource-Rich Namibia: Turning Possibilities into Prosperity

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<p>Investors have their focus fixed on today’s Primary Market Auction as existing T-Bills totalling 142.57 billion naira will mature and be rolled over. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa for expected outcome and other market movements.</p>


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Investors focus on ₦142.57bn T-Bills auction

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<p>The Government of the Commonwealth of The Bahamas and Afreximbank have signed the Agreement for The Bahamas to host the 31st Afreximbank Annual Meetings and the third edition of the AfriCaribbean Trade and Investment Forum. The events will be held in Nassau, in The Bahamas, from the 12th to the 14th of June, under the theme ‘Owning Our Destiny: Economic Prosperity on the Platform of Global Africa.’ Afreximbank says theme reflects their focus to broaden the discourse to determine solutions to the challenges that affect African and Caribbean economies.  CNBC Africa brings you the highlights of the launch of the host signing agreement.</p>


The Bahamas to host 2024 Afreximbank Annual Meetings & AfriCaribbean Trade and Investment Forum

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<p>In this episode of Focus On, we spotlight The Namibia International Energy Conference 2024, an event that will bring together policymakers, energy stakeholders, investors, and international partners to foster industry growth and position Namibia as a prime investment destination. CNBC Africa spoke to Selma Shimutwikeni, CEO of RichAfrica Consultancy, and convenor of NIEC 2024 about what this event will unpack with in Africa&#8217;s evolving energy landscape.</p>


Focus On: The Namibia International Energy Conference 2024

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<p>Traders at Access Bank expect improved market activity today as investors seek to reinvest their coupon proceeds on the 18th April 2037 bond. Odinaka Linus- Nwokonkwo, Treasury team Member at Access Bank joins CNBC Africa for the highlights of market movements this week.</p>


Access: Investors seek to reinvest coupon proceeds on April 2037 bond

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<p>This April marks the solemn 30th anniversary of the genocide against the Tutsi in Rwanda, with commemorative events beginning on April 7. Throughout April, both globally and within Rwanda, there&#8217;s a dedicated time to honor the memory of those lost to this tragedy. &#8220;Kwibuka,&#8221; translating to &#8220;to Remember&#8221; in Rwanda&#8217;s Kinyarwanda language, signifies a period of deep reflection on the past and an unwavering commitment to preventing such horrors from repeating. Speaking at one such event, Emmanuel Hategeka, Rwanda&#8217;s High Commissioner to South Africa, emphasized the significance of this collective act of remembrance.</p>


30th Commemoration of the 1994 Genocide Against the Tutsi


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/GettyImages-2147878080-820x547.jpg" alt="" class="wp-image-477763" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/GettyImages-2147878080-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/GettyImages-2147878080-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/GettyImages-2147878080-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/GettyImages-2147878080-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/GettyImages-2147878080-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/GettyImages-2147878080-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Nicolas Mombrial, senior communications officer at the International Monetary Fund (IMF), from left, Vitor Gaspar, director of fiscal affairs at the International Monetary Fund (IMF), Era Dabla-Norris, division chief of fiscal affairs at the International Monetary Fund (IMF), and Marcos Poplawski-Ribeiro, deputy division chief of fiscal policy and surveillance at the International Monetary Fund (IMF), during a Fiscal Monitor news conference during the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Wednesday, April 17, 2024. The International Monetary Fund inched up its expectations for global economic growth this year, citing strength in the US and some emerging markets, while warning the outlook remains cautious amid persistent inflation and geopolitical risks. Photographer: Samuel Corum/Bloomberg via Getty Images</figcaption></figure>



<p>The International Monetary Fund says South Africa needs to implement a debt ceiling as part of an overall strategy to contain increasing indebtedness in Africa’s largest economy.</p>



<p>South Africa public debt to gross domestic product ratio is projected to reach 86 percent by 2029 amid slow growth and continued bailouts of struggling state-owned enterprises such as power utility Eskom, logistics operator Transnet and airliner South African Airways. The national treasury says debt should peak at 75 percent of GDP by 2027 before declining, compared with 49 percent before the Covid-19 pandemic.</p>



<p>&#8220;South Africa has a good fiscal rule and complementing this with a debt ceiling could be useful in improving expenditure efficiency,&#8221; Era Dabla-Norris, the IMF’s Deputy Director for Fiscal Affairs told a news briefing at the release of its April 2024 Fiscal Monitor report. &#8220;We believe more decisive efforts are needed to cut spending and this can be done by reducing transfers to state-owned enterprises, rationalizing untargeted subs while protecting public investment and protecting well targeted social assistance for vulnerable populations.&#8221;</p>



<p>The country barely avoided a recession last year, posting growth of 0.6 percent, which the IMF forecasts could climb to 0.9 percent this year, before accelerating to 1.2 percent in 2025 as power supply improves, and the impact of economic reforms kicks in.</p>



<p>For sub-Saharan Africa the fund, sees sub-Saharan fiscal deficits declining to 4 percent this year versus 5.2 percent in 2023, and further improving to 2.7 percent by 2029. General debt to GDP ratios should decline to 44 percent by 2029 compared with 55 percent last year.</p>



<p>The fund is recommending that governments around the world avoid fiscal slippages and focus on rebuilding buffers in order to safeguard fiscal sustainability in the medium term. This as it forecast global public debt may top 100 percent of GDP by the end of the decade from 93 percent now.</p>



<p>&#8220;Fiscal consolidations are never easy but it is best not to wait until markets dictate their conditions. The right approach is to start now, gradually, and credibly. Once inflation is under control, credible multiyear consolidations will help pave the way for further monetary policy easing,&#8221; the report says.</p>



<p>This was especially pertinent this year as half of the world’s population goes to the polls to elect new governments.</p>



<p>&#8220;History shows governments tend to spend more and tax less during election years,&#8221; it said. &#8220;Deficits in election years tend to exceed forecasts by 0.4 percentage points of GDP, compared to non-election years. In this great election year, governments should exercise fiscal restraint to preserve sound public finances.&#8221;</p>


Spring Meetings Of The International Monetary Fund And World Bank

IMF says South Africa needs a debt ceiling as public debt spirals

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<p>Traders at UBA say despite the tight liquidity, the T-bills market is recording improved demand with interest seen across the curve. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa for more market movements.</p>


UBA: Improved demand seen on T-bills, interest across curve

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<p>This Focus On puts the spotlight on partnerships that use seed funding to fund the on-going African green energy transition projects. CNBC Africa&#8217;s Fifi Peters is joined by Johan Marnewick, Head of Credit Alternatives at Stanlib and Asanda Tsotsi, Head of Project and Export Finance at Standard Bank CIB on insights to into the Khanyisa Energy Fund as part of Standard Bank&#8217;s journey to fund Africa&#8217;s green energy transition.</p>


Focus On: Private Partnerships for Green Funding

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<p>Joining CNBC Africa for this discussion is Annabel Bishop, Chief Economist, Investec and Cas Coovadia, CEO, Business Unity South Africa.</p>


The Power Table: South Africa: Rebuilding the Rainbow Nation

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<p>Tourism leaders from across Africa gathered at the Tourism Investment Forum Africa, held in Cape Town, to explore how tourism can be a key driver towards expanding growth and opportunity in African economies. CNBC Africa spoke Barba Gaoganediwe, Head of Destination Marketing and Communications at Gauteng Tourism on how to leverage Gauteng as a tourism investment destination.</p>


Focus On: Opportunities for Tourism Investment in Gauteng

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<p>Fostering network opportunities, facilitating trade deals and forging international partnerships, the U.S.-Africa Business Summit returns for its 16th edition. Returning to United States soil, this summit will be attracting heads of states and investors from both the U.S and Africa. This Focus On special will highlight some key areas of interest at this year’s summit.</p>


Focus On US-Africa Business Summit 2024

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<p>Investors have their attention fixed on today’s 150 billion-naira T-bills auction keeping the market calm. Meanwhile, Traders at UBA say improved demand is observed on the March 2027 bond. Kenneth Onuoha, Team Member, Assets and Liabilities at UBA joins CNBC Africa for more market movement.</p>


DMO conducts ₦149.6bn T-bills auction

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<p>A number of developing countries look to tourism as an avenue for economic development. CNBC Africa speaks to Joy Priya Somasundram, Principal: FDI Strategies at the Financial Times and Dianna Martin, Acting Chief Executive Officer, Northern Cape Tourism Authority on how Africa can unlock opportunities for growth in this sector.</p>


Focus On: Africa’s Tourism Investment Case

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<p>Foreign Direct Investment in Africa declined to $45 billion in 2022 from a record $80 billion in the previous year. The 4th Africa Finance Corporation Country and Stakeholder Symposium gathered thought leaders, decision makers and key stakeholders on how to prevent any further capital in Africa to exit.</p>


CSS 2024: 4th Africa Finance Corporation Country & Stakeholder Symposium

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<p>The Government of Ghana is giving out about 1.3 million educational tablets to students in Senior High schools, as part of the Ghana Smart Schools Project. The government will also construct 100 Smart Schools to provide modern learning environment and digital training in all 16 regions of the country.</p>


Ghana Smart Schools Project Launch

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<p>Tourism, a vital contributor to the economies of many countries around the world, could be a possible solve to Africa&#8217;s economic challenges. CNBC Africa speaks to Dr Geoffrey Manyara, economic Affairs Officer for the United Nations Economic Commission for Africa for more.</p>


CNBC Africa

NIEC 2024: Reimagine Resource-Rich Namibia: Turning Possibilities into Prosperity

Investors focus on ₦142.57bn T-Bills auction

The Bahamas to host 2024 Afreximbank Annual Meetings & AfriCaribbean Trade and Investment Forum

Focus On: The Namibia International Energy Conference 2024

Access: Investors seek to reinvest coupon proceeds on April 2037 bond

30th Commemoration of the 1994 Genocide Against the Tutsi

IMF says South Africa needs a debt ceiling as public debt spirals

UBA: Improved demand seen on T-bills, interest across curve

Focus On: Private Partnerships for Green Funding

The Power Table: South Africa: Rebuilding the Rainbow Nation

Focus On: Opportunities for Tourism Investment in Gauteng

Focus On US-Africa Business Summit 2024

DMO conducts ₦149.6bn T-bills auction

Focus On: Africa’s Tourism Investment Case

CSS 2024: 4th Africa Finance Corporation Country & Stakeholder Symposium

Ghana Smart Schools Project Launch

Focus On: Expanding Africa’s Tourism Horizon

News Tips

Advertise With Us

CNBC Africa

NIEC 2024: Reimagine Resource-Rich Namibia: Turning Possibilities into Prosperity

Investors focus on ₦142.57bn T-Bills auction

The Bahamas to host 2024 Afreximbank Annual Meetings & AfriCaribbean Trade and Investment Forum

Focus On: The Namibia International Energy Conference 2024

Access: Investors seek to reinvest coupon proceeds on April 2037 bond

30th Commemoration of the 1994 Genocide Against the Tutsi

IMF says South Africa needs a debt ceiling as public debt spirals

UBA: Improved demand seen on T-bills, interest across curve

Focus On: Private Partnerships for Green Funding

The Power Table: South Africa: Rebuilding the Rainbow Nation

Focus On: Opportunities for Tourism Investment in Gauteng

Focus On US-Africa Business Summit 2024

DMO conducts ₦149.6bn T-bills auction

Focus On: Africa’s Tourism Investment Case

CSS 2024: 4th Africa Finance Corporation Country & Stakeholder Symposium

Ghana Smart Schools Project Launch

Focus On: Expanding Africa’s Tourism Horizon

News Tips

Advertise With Us

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