
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="453" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/Tourism-Transcribe-Image-820x453.png" alt="" class="wp-image-475298" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/Tourism-Transcribe-Image-820x453.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/Tourism-Transcribe-Image-300x166.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/Tourism-Transcribe-Image-160x88.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/Tourism-Transcribe-Image-768x424.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/Tourism-Transcribe-Image.png 989w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<p>The introduction of the&nbsp;long awaited <strong>e-visa system</strong>&nbsp;is a significant step, although it’s still a work in progress. Implemented just&nbsp;<strong>two years ago</strong><strong>,</strong> the system is improving, despite encountering some challenges on a backlog in converting the paper-based system to a computerised one.</p>



<p>The Deputy Minister of Tourism to South Africa, Amos Fish Mahlalela told CNBC Africa that his ministry is making strides in enhancing accessibility through the introduction of the e-visa system: “It might not be 100% to where we want it to be, but it&#8217;s in the making, because it&#8217;s something that we&#8217;ve just introduced two years ago, so it is in the making, and it&#8217;s gradually improving.’’</p>



<p>According to Statistics South Africa, foreign arrivals dropped by 71% from just over 15,8million in 2019 to less than 5 million in 2020. It is evident that the COVID-19 pandemic impacted the tourism industry around the world and in South Africa, mainly due to the lockdown and travel restrictions that were imposed.</p>



<p>“After the whole world was hit by the COVID-19, we then developed a tourism sector recovery master plan, which was aimed at making sure that when everything was opened, we were able to rejuvenate the tourism industry by making sure that we intensify our marketing strategy, to make sure that we intensify our investment strategy, we make sure that we increase our visitors into South Africa and be able to go back to pre-pandemic,” Mahlalela said.</p>



<p>Today marks the kick-off of the 2<sup>nd</sup> edition of the Investment Forum Africa in Cape Town under the theme: Unlocking Intra Africa Tourism Investment, Building Long Term Sustainability and Resilience.</p>



<p>“We&#8217;ve established the investment portfolio and the investment strategy, not just for the tourism sector, but for South Africa as a whole in terms of various business opportunities that the country is able to offer,” he said.</p>



<p>The 2-day conference will seek to promote investments and trade opportunities within tourism and related sectors.</p>


Tourism-Transcribe-Image

Introduction of the e-visa system still a work in progress

<p><iframe loading="lazy" src="https://www.youtube.com/embed/AV2KJvvKCiI" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>Professor Lethohkwa George Mpedi, Vice Chancellor of the University of Johannesburg talks to Jill de Villiers about his book: From the Baobab to the Mosquito: Rethinking Leadership Through African Sayings.</p>


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From the Baobab to the Mosquito: Rethinking Leadership Through African Sayings by Professor Mpedi

<p><iframe loading="lazy" src="https://www.youtube.com/embed/NcByIfnUpHQ" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>This episode of Focus On spotlights RBIDZ Special Economic Zone&#8217;s mandate in attracting foreign and domestic investment and creating employment. CNBC Africa speaks to a titanium dioxide pigment manufacturer located in the RBIDZ special economic zone, Nyanza Light Metals, about their growth strategy and approach to improving the region&#8217;s skills base.</p>


Focus On: The Nyanza Light Metals’ Growth Story through Richards Bay Industrial Development Zone

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<p>Join President Amie Batson on Focus On: WomenLift Health Conference as she highlights the overarching goal of the conference and reasons why the conversation on women&#8217;s leadership in global health is particularly timely and critical for driving innovation, equity, and sustainability in the global health sector.</p>


WomenLift Health Conference 2024: Advancing women in leadership roles in healthcare

<p><iframe loading="lazy" src="https://www.youtube.com/embed/WH-SnUE-dKI" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>Catch the insightful panel discussion on CNBC Africa, where experts dissect strategies and opportunities for fostering services exchange between Rwanda and Zimbabwe, as highlighted during the Rwanda-Zimbabwe Business Forum.</p>


Rwanda-Zimbabwe Business Forum: Fostering services exchange between Rwanda & Zimbabwe

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<p>In this episode of Focus On: The WomenLift Health Conference, join Norah Obudho, East Africa Director, as she provides exclusive insights into the region&#8217;s contributions and the conference&#8217;s impact on local healthcare leadership.</p>


Focus On: The WomenLift Health Conference: Local Healthcare leadership

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<p>On the story of the day &#8211; Sahara Group looks to wind turbines at the Egbin Power plant in Lagos to reduce carbon emissions. Using the operational potential of the 15 wind turbines installed at Egbin Power, the company says they would reduce an estimated 35,793,360g of CO2 annually,”</p>


Sahara Group looks to wind turbines to reduce carbon emissions

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<p>The use of Artificial Intelligence (AI) in education has seen an increase in recent years. The rapid development of this new technology is having a major impact on education. In this edition of Edtech Mondays we will talk about the applications and benefits of AI in the education sector, the necessary implementation frameworks, the policy support and also seek to hear from the end users on the impact AI has or would have.</p>


EdTech Monday: Artificial Intelligence in Education

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<p>On the side-lines of the Rwanda-Zimbabwe Business Forum, dignitaries gathered for a Panel Discussion on Enhancing Business Linkages Between Rwanda &#038; Zimbabwe, Unveiling Opportunities on CNBC Africa.</p>


Rwanda-Zimbabwe Business Forum: Enhancing business linkages between Rwanda & Zimbabwe


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="460" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-820x460.png" alt="" class="wp-image-474553" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-820x460.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-300x168.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-160x90.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image-768x431.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/UK-Funds-Africa-Transcribe-Image.png 992w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<p>The United Kingdom is backing investment of more than $300 million in South Africa’s green energy transition as the country struggles to end power shortages that nearly tipped its economy into a recession last year.</p>



<p>The UK’s High Commissioner to South Africa Antony Phillipson said the funding through Globeleq, is part of the UK’s $1.8 billion commitment to finance South Africa’s renewables programme under the country’s Just Energy Transition Partnership. Globeleq is majority owned by British International Investment, the UK’s development finance arm.</p>



<p>&#8220;This is a significant investment in South Africa’s future,&#8221; Phillipson told CNBC Africa. &#8220;This will be the biggest standalone battery energy storage system anywhere in Africa and it will also make, as you say, a really significant contribution, I think, to South Africa&#8217;s Just Energy Transition.&#8221;</p>



<p>South Africa has suffered power shortages for the past three years, with the economy almost contracting last year. The government projects the shortages should ease later this year into 2025. The UK is part of a group of Western nations that have committed $8.5 billion to help South Africa’s transition from fossil fuelled power to renewables.</p>



<p>Globeleq says the Red Sand project, which is based in the Northern Cape, will be the largest standalone battery energy storage system in Africa. Globeleq already provides some 1,800 MW of energy in South Africa, Mozambique, Kenya, Tanzania, Cote d’Ivoire, Egypt and Cameroon.</p>



<p>The project is expected to take two years to complete.</p>



<p>&#8220;Electricity storage is going to be key not only in helping South Africa meet its considerable industrial and domestic demand for energy but also across Africa as more renewable energy projects benefit from the advances our industry has made with battery energy storage solution technology,&#8221; Mike Scholey, Globeleq CEO said in a statement.</p>


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UK Funds Africa’s largest battery storage system in South Africa

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<p>Highlights of some of the unforgettable moments for the FORBES WOMAN AFRICA Leading Women Summit 2024. We bring you empowering discussions and inspiring talks by trailblazing women from across the continent and the world.</p>


Highlights Special of the 9th FORBES WOMAN AFRICA Leading Women Summit

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<p>As the Nigerian government embarks on the construction of the 700 kilometer Lagos Calabar coastal road, businesses along the corridor are facing potential losses due to planned demolitions. In this discussion, Paul Onwanibye, CEO of Landmark Group, shares insights on the challenges and strategies for navigating this situation and ensuring a positive outcome for the business and its employees.</p>


A Discussion with Landmark Group CEO

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<p>Dive into the historic Inauguration Day in Senegal, where Basiro D&#8217;Omeri-Fyer becomes the youngest president at the age of 44, marking the 4th Democratic transfer of power since independence. Discover the symbolism behind the number 4 and the promises of the new administration to fight corruption and reform the economy.</p>


Inauguration Day in Senegal

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<p>The Central Bank of Nigeria has set a deadline for all banks in the country to submit their implementation plans for the recapitalization exercise. With new minimum capital requirements and options for banks to meet them, the Nigerian banking industry is gearing up for significant changes. Learn more about the potential impact on the economy and the strategies banks are considering to comply with the new regulations.</p>


Nigeria’s Banking Industry Faces Recapitalization Deadline: The Countdown to April


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="490" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-820x490.jpg" alt="" class="wp-image-473750" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-820x490.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-300x179.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-150x90.jpg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1-768x459.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/408866411_733387332155247_4962667954578167410_n-1.jpg 1080w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<p>The Emerald Group has bought 40% of ABN Publishing, owner of Forbes Africa, one of Africa’s largest business magazines.</p>



<p>The deal will combine Emerald Group’s Forbes Lusophone Africa with Forbes Africa, which is distributed throughout Sub-Saharan Africa. Forbes Africa is a unit of Africa Business News, owners of CNBC Africa, the largest business television station in Africa.</p>



<p>&nbsp;“This investment is another stepping stone in our commitment and long-term strategy for Africa,” N’Gunu Tiny, the Chairman &amp; CEO of the Emerald Group said. “English is the international language of business, and we see a clear path ahead by capitalizing on a global brand such as Forbes to build a media platform for those who are positively impacting the continent by making it more inclusive, sustainable, and prosperous for the current and future generations.”</p>



<p>Sidharth Wahi, the Executive Director of ABN Publishing said the deal would strengthen Forbes Africa’s coverage of the continent, where growth is strengthening after the twin shocks of the Covid-19 pandemic and the Russia Ukraine war. &nbsp;</p>



<p>“The resulting synergies of this strategic investment represent a new growth opportunity by keeping the focus on our core values while at the same time expanding the work started 13 years ago,” he said.</p>


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Emerald Group buys 40% stake in Forbes Africa publisher ABN Publishing


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="575" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-820x575.jpg" alt="" class="wp-image-454022" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-820x575.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-768x539.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-1536x1078.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/2YFSNLSNFRP7VNWQPEPCOAWUMU-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A man shows off Zimbabwean currency notes outside a grocery store in Harare, Zimbabwe, March 17, 2022.  REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



<p>Zimbabwe says it will re-launch its currency for a sixth time next week, in a bid to reign-in inflation after the latest collapse of the Zimbabwe dollar.</p>



<p>New Reserve Bank of Zimbabwe Governor John Mushayavanhu said the Zimbabwe Gold (ZiG), would replace the last incarnation of the Zimbabwe dollar, and would be backed by a select group of foreign currencies, gold and other precious metals the country produces. The new currency will be introduced next Monday at 13.56 per U.S. dollar.</p>



<p>&#8220;With effect from 5 April 2024, banks shall convert the current Zimbabwe dollar balances into the new currency which shall be called Zimbabwe Gold to foster simplicity, certainty, and predictability in monetary and financial affairs,&#8221; the central bank said in a monetary policy statement. &#8220;The new currency will co-circulate with other foreign currencies in the economy.&#8221;</p>



<p>Zimbabwe’s dollar had lost almost three quarters of its value against the dollar since a relaunch last year, stoking inflation which was measured at 55.3 percent in March versus 47.6 percent the month before. The country has battled to tame inflation since it hit a record 500 billion percent in 2008 when it was forced to abandon the Zimbabwe dollar.</p>



<p>Mushayavanhu replaced John Mangudya as governor last month.</p>



<p>To protect the value of the new currency, Mushayavanhu said he would limit central bank lending to the government &#8212; a key source of the inflation that engulfed the economy in 2008 &#8212; and ensure that reserve money would be fully backed by the country’s equivalent gold and foreign currency reserves.</p>



<p>A strict monetary policy would also be implemented he said, setting the new benchmark rate at 20 percent, down from the current rate of 130 percent. Exporters would be requested to surrender half of their forex receipts for the foreign exchange market with the balance going to the government.</p>



<p>&#8220;The Bank will use 50% of the foreign currency proceeds from surrender requirements for strategic interventions in the foreign exchange interbank market,&#8221; he said. &#8220;The remaining foreign currency will be available to satisfy the Government&#8217;s foreign currency obligations in exchange for ZiG and to build foreign exchange reserves for the Reserve Bank.&#8221;</p>


FILE PHOTO: Zimbabwe’s poor feel the impact of far away Ukraine war

Zimbabwe relaunches currency in latest inflation fight

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<p>Investors in Nigeria’s local bond market are tilting towards the short to mid-end of the curve, particularly, the 2026 and 2034 papers. Traders at UBA expect this week to end in similar sentiment as investors take position for the 450-billion-naira bond auction scheduled for April 15th. Kenneth Onuoha, Team Member, Assets and Liabilities at UBA joins CNBC Africa for more market updates.</p>


CNBC Africa

Introduction of the e-visa system still a work in progress

From the Baobab to the Mosquito: Rethinking Leadership Through African Sayings by Professor Mpedi

Focus On: The Nyanza Light Metals’ Growth Story through Richards Bay Industrial Development Zone

WomenLift Health Conference 2024: Advancing women in leadership roles in healthcare

Rwanda-Zimbabwe Business Forum: Fostering services exchange between Rwanda & Zimbabwe

Focus On: The WomenLift Health Conference: Local Healthcare leadership

Sahara Group looks to wind turbines to reduce carbon emissions

EdTech Monday: Artificial Intelligence in Education

Rwanda-Zimbabwe Business Forum: Enhancing business linkages between Rwanda & Zimbabwe

UK Funds Africa’s largest battery storage system in South Africa

Highlights Special of the 9th FORBES WOMAN AFRICA Leading Women Summit

A Discussion with Landmark Group CEO

Inauguration Day in Senegal

Nigeria’s Banking Industry Faces Recapitalization Deadline: The Countdown to April

Emerald Group buys 40% stake in Forbes Africa publisher ABN Publishing

Zimbabwe relaunches currency in latest inflation fight

Investors tilt to short- mid-end of bond curve

News Tips

Advertise With Us

CNBC Africa

Introduction of the e-visa system still a work in progress

From the Baobab to the Mosquito: Rethinking Leadership Through African Sayings by Professor Mpedi

Focus On: The Nyanza Light Metals’ Growth Story through Richards Bay Industrial Development Zone

WomenLift Health Conference 2024: Advancing women in leadership roles in healthcare

Rwanda-Zimbabwe Business Forum: Fostering services exchange between Rwanda & Zimbabwe

Focus On: The WomenLift Health Conference: Local Healthcare leadership

Sahara Group looks to wind turbines to reduce carbon emissions

EdTech Monday: Artificial Intelligence in Education

Rwanda-Zimbabwe Business Forum: Enhancing business linkages between Rwanda & Zimbabwe

UK Funds Africa’s largest battery storage system in South Africa

Highlights Special of the 9th FORBES WOMAN AFRICA Leading Women Summit

A Discussion with Landmark Group CEO

Inauguration Day in Senegal

Nigeria’s Banking Industry Faces Recapitalization Deadline: The Countdown to April

Emerald Group buys 40% stake in Forbes Africa publisher ABN Publishing

Zimbabwe relaunches currency in latest inflation fight

Investors tilt to short- mid-end of bond curve

News Tips

Advertise With Us

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