<p><iframe loading="lazy" src="https://www.youtube.com/embed/g6Gv6g9kYS8" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>We bring you highlights from the prestigious Obafemi Awolowo Prize for Leadership Award and keynote lecture featuring the 2024 award recipient African Development Bank Group President Dr Akinwunmi Adesina. The award promotes the legacy and democratic ideals of the late Nigerian nationalist and federalist leader Chief Obafemi Awolowo and recognizes and celebrates excellence in leadership.</p>


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Focus On: Obafemi Awolowo Prize for Leadership Award and Keynote Lecture

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<p>A panel of experts examine key transformative initiatives for Africa, the role that education, science, technology and innovation will play in them to heighten their impact and highlight the key challenges faced in being able to scale them up for the impact needed including crowding in finance and the investment needed.</p>


Africa Business Forum 2024: Scaling-up transformative initiatives for developmental impact

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<p>At the Rwanda Economic Update edition 22 by the World Bank, experts discuss the crucial need to mobilize domestic savings for bolstering private sector growth, aiming to enhance Rwanda&#8217;s economic resilience and reduce reliance on external finance.</p>


Mobilizing Domestic Savings to Boost the Private Sector in Rwanda

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<p>Joining CNBC Africa for this discussion are Professor Mark Nasila, Chief Data &#038; Analytics Officer, FNB Chief Risk Office, Charity Wayua, Director, IBM Research Africa, Vaughn Naidoo, GM: B2B Technology, MTN Centre of Excellence (CoE) and Venolan Naidoo, Lawyer, Fasken Law Firm.</p>


AI Africa: How AI can unlock South Africa’s economic potential

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<p>Nigeria’s headline inflation continued its increase, hitting 31.7 per cent in the month of February from 29.9 per cent recorded in January. Meanwhile, traders at UBA say investors are cautious ahead of Monday&#8217;s 450-billion-naira bond auction. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa for some market updates.</p>


Nigeria’s headline inflation hits 31.7% in February

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<p>Discover Rwanda explores the captivating beauty and resilient spirit of Rwanda by putting the spot light on the thrilling TOUR DU RWANDA, showcasing how this cycling race embodies the vibrancy and energy of the country&#8217;s sporting events industry.</p>


Discover Rwanda: Rumble in Rwanda

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<p>Investors at the Treasury Bills market have shown significant interest in the newly issued 1-year T-bills as demand far outweighed offers after Wednesday’s 161.5-billion-naira auction. Traders at Access Bank say they expect similar sentiments at today’s trading. Uzor Anakebe, Treasury Team Member at Access Bank, joins CNBC Africa for some market updates.</p>


Access: Investors flock new one-year T-bills

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<p>Explore South Sudan&#8217;s rich oil resources as it aims to become Africa&#8217;s leading oil export hub. Witness the unveiling of Nile Petroleum Corporation&#8217;s latest building, marking a significant milestone in the nation&#8217;s development.</p>


Focus On: South Sudan’s Oil Sector: A Promising Future Ahead


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="443" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Transaction-Capital-820x443.png" alt="" class="wp-image-465876" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Transaction-Capital-820x443.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Transaction-Capital-300x162.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Transaction-Capital-160x87.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Transaction-Capital-768x415.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Transaction-Capital.png 993w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<p>South Africa&#8217;s largest vehicle reseller, WeBuyCars plans to its boost monthly car sales by more than three quarters in the next five years by expanding its sales footprint across the country.</p>



<p>The company&#8217;s&nbsp;Chief Financial Officer Chris Rein told CNBC Africa&#8217;s Zanele Morrison that through a combination of organic growth and leveraging of technologies, the company hoped to almost double its market share to 23 percent from the current 12 percent.</p>



<p>Webuycars will be listed on April 11, completing an unbundling process its owners Transaction Capital hope will unlock value for its shareholders. In its pre-listing statement to the stock exchange the company said four month sales to the end of January rose 17 percent compared with a year ago.</p>



<p>WeBuyCars was started 36 years ago by brothers Faan and Dirk van der Walt. The company was acquired by Transaction Capital in 2020. It primarily trades used vehicles through its e-commerce platform and dealerships, which also offer funding and insurance.&nbsp;</p>



<p>South African consumer spending has been hit by high interest rates and inflation, reducing demand for cars and white consumer goods. The country narrowly&nbsp;escaped a recession last year as transport bottlenecks and a severe shortage of power constrained economic activity, forcing the government to rope in the private sector to improve efficiencies at its ports and improve its rail network.</p>


Transaction-Capital

South Africa’s WeBuyCars poised for growth after unbundling

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<p>Traders at UBA say they expect a higher stop rate at the Primary Market Auction today where the Debt Management Office offered a total of 161.4 billion Naira across the three tenor buckets. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa for more market updates.</p>


Higher stop rates expected at PMA


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="437" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Z7WYPZPJW5OBHIDH2OEK6FYVC4-820x437.jpg" alt="" class="wp-image-465502" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Z7WYPZPJW5OBHIDH2OEK6FYVC4-820x437.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Z7WYPZPJW5OBHIDH2OEK6FYVC4-300x160.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Z7WYPZPJW5OBHIDH2OEK6FYVC4-160x85.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Z7WYPZPJW5OBHIDH2OEK6FYVC4-768x409.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Z7WYPZPJW5OBHIDH2OEK6FYVC4-1536x818.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/Z7WYPZPJW5OBHIDH2OEK6FYVC4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Container ships wait to load and offload goods in port during a 21-day nationwide lockdown aimed at limiting the spread of coronavirus disease (COVID-19) in  Cape Town, South Africa, April 17, 2020. REUTERS/Mike Hutchings/File Photo</figcaption></figure>



<p>Namibia and South Africa are in talks to launch infrastructure projects worth R7bn ($377 million) over the next three years to address current rail and port inefficiencies.</p>



<p>The Namibian Executive Director for the Ministry of Finance and Public Enterprises, Titus Ndove told CNBC Africa that his ministry is mobilising an initial R2bn this year as part of the project linking the two nations and other parts of the Southern Africa region.</p>



<p>South Africa’s economy barely escaped a recession last year as transport bottlenecks and a severe shortage of power constrained economic activity, forcing the government to rope in the private sector to improve efficiencies at its ports and improve its rail network.</p>



<p>“We are elevating our bi-national arrangements with the government and [we have identified] different areas of collaborations ranging from tourism, border protection, water issues, trade facilities and seeking ways to go hunt together for more markets,” Ndove said.</p>



<p>South Africa is Namibia’s largest trading partner and both countries are members of the Southern African Customs Union, the world’s oldest customs union. &nbsp;</p>



<p>Ndove told delegates at the second annual NinetyOne Infrastructure Forum that it was vital that South Africa resolves its logistics and port crisis by investing in key infrastructure.</p>



<p>“Most of our goods- about 70% of them coming from South Africa- move on the road and that has complications in the form of high maintenance costs for the roads. Sometimes we transport dangerous goods, which ideally, we want to get them off the road and carry on the rail.”</p>



<p>His call was backed by Helvi Fillipus, a senior government adviser who added that Namibia was specifically targeting rail infrastructure investments to help alleviate existing pressures.</p>



<p>“We are looking at the rail infrastructure because current ones are out-dated and aged and therefore need to be upgraded. In addition, we have an ambition as a country to position Namibia as a logistics hub in the Southern Africa region, and specifically, we are targeting to provide services to our landlocked neighbours,” she said.</p>



<p>“We need to stabilize the system so that we are able to move heavier cargo on the rail. We also need to increase the speed at which the trains can move because at the moment it takes a longer to get the goods from one point to another.” At the conference, Namibia presented several infrastructure projects ranging from energy, rail, port expansion and green hydrogen to oil and gas.</p>


FILE PHOTO: Container ships in Cape Town, South Africa

South Africa, Namibia seek to build $377mn Transport Infrastructure Fund

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<p>Join CNBC Africa for as we embark on a new series ‘Eye on OR Tambo SEZ’. This series will unpack this special economic zone in greater detail. We will speak to key individuals from the different sectors on what it takes to keep operations going during tough economic times and the plans to attract FDIs. In the first episode we explore the development of this SEZ to date.</p>


Eye on OR Tambo SEZ EP1: Unlocking the investment potential of OR Tambo Special Economic Zone

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<p>This episode of Focus On takes aim at the R165.8 billion Gauteng provincial budget for the 2024/2025 financial year delivered by Gauteng Finance MEC Jacob Mamabolo on Tuesday. With a focus on fighting crime and improving health services, CNBC Africa&#8217;s Keamogetswe Mosepele speaks to Gauteng Health MEC, Nomantu Nkomo-Ralehoko and Mzi Khumalo, Gauteng MEC for Co-operative Governance and Traditional Affairs, e- Government, Research and Development on their plans to utilize the newly allocated funds.</p>


Focus On Gauteng Provincial Budget 2024/25


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="509" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/4O2DETTBGVMQDJTFUHDOCNWL3A-820x509.jpg" alt="" class="wp-image-463714" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/4O2DETTBGVMQDJTFUHDOCNWL3A-820x509.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/4O2DETTBGVMQDJTFUHDOCNWL3A-300x186.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/4O2DETTBGVMQDJTFUHDOCNWL3A-145x90.jpg 145w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/4O2DETTBGVMQDJTFUHDOCNWL3A-768x477.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/4O2DETTBGVMQDJTFUHDOCNWL3A-1536x954.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/4O2DETTBGVMQDJTFUHDOCNWL3A-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo of South Africa&#8217;s largest insurer Sanlam is seen outside the company&#8217;s headquarters in Cape Town, South Africa March 12, 2020.  REUTERS/Mike Hutchings/File Photo</figcaption></figure>



<p>Sanlam, Africa’s biggest insurer reported record 2023 earnings, powered by acquisitions, India and new business growth in its South African market.</p>



<p>The Cape Town-based insurer said headline earnings per share advanced 48 percent as the life insurance portfolio grew 19 percent, general insurance jumped 21 percent and a 14 percent jump in investment management earnings after the acquisition of ABSA Group’s asset management unit.</p>



<p>“This set of results reflects our focus over the past three years on improving the performance of existing operations, while investing in the group’s long‑term growth path,’’ CEO Paul Hanratty said in a statement. &#8220;We remain optimistic about future growth and performance, with the group being well positioned to serve our customers across all our operations.”</p>



<p>Sanlam is benefitting from a diversification drive that has seen it expand its presence to North Africa through the acquisition of Saham, the purchase of banking group ABSA Group’s asset management unit and the creation of SanlamAllianz, with a presence in 27 countries. Last month, the company said it agreed to buy Assupol, a 110-year-old insurer based in Pretoria.</p>



<p>Hanratty said the general insurance division was one of the star performers in 2023, driven by the Sanlam Allianz joint venture, lifting earnings up by 25 percent. The company’s Indian operation also starred, he said, praising what he called the country’s &#8220;well-managed entrepreneurial economy.’’ ABSA’s former asset management unit had also been integrated faster than expected, he said.</p>



<p>Despite the challenging economic environment in South Africa and across the continent, Hanratty said Sanlam was thriving as people prioritized savings and investments. While the African countries continued to fiscal constraints and volatility in its currencies, opportunities for growth remain, he said. &#8220;India, of course, also shooting the lights out, growing and highly profitable. We think it will continue to run hard,’’ Hanratty told CNBC Africa. &#8220;So we&#8217;re very excited about what&#8217;s happening. And despite our consumers being under pressure across the African continent, I think the fact that we managed to grow our new business is really great.’’</p>



<p>India’s economy grew 8.4 percent in last quarter of 2023, faster than analysts’ estimates, buoyed by strong private consumption and upbeat manufacturing and construction activity. Reuters estimates had forecast growth in the October to December period at 6.6%.</p>


FILE PHOTO: The logo of South Africa’s largest insurer Sanlam is seen outside the company’s headquarters in Cape Town

Sanlam reports record 2023 earnings on acquisitions, India growth spurt

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<p>The Nigerian equities market is sustaining positive sentiments recorded so far this week following bargain hunting in FBNH and Transcorp. Muktar Mohammed, Analyst at Assar Investments joins CNBC Africa for more market movements.</p>


Can Nigeria’s equities sustain rebound?

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<p>Traders at UBA say investors are adopting a wait and see approach as they focus on the outcome of today’s 337.89 billion naira T-bills auction. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa for more market updates.</p>


UBA: Investors await results of mid-week PMA

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<p>About 337 billion naira will be offered across maturities in today’s treasury bills auction. Traders at Access bank expect a quiet trading session today as attention shifts to the auction. Dimeji Obasa, a Fixed Income Dealer at Access Bank, joins CNBC Africa for some market updates.</p>


CNBC Africa

Focus On: Obafemi Awolowo Prize for Leadership Award and Keynote Lecture

Africa Business Forum 2024: Scaling-up transformative initiatives for developmental impact

Mobilizing Domestic Savings to Boost the Private Sector in Rwanda

AI Africa: How AI can unlock South Africa’s economic potential

Nigeria’s headline inflation hits 31.7% in February

Discover Rwanda: Rumble in Rwanda

Access: Investors flock new one-year T-bills

Focus On: South Sudan’s Oil Sector: A Promising Future Ahead

South Africa’s WeBuyCars poised for growth after unbundling

Higher stop rates expected at PMA

South Africa, Namibia seek to build $377mn Transport Infrastructure Fund

Eye on OR Tambo SEZ EP1: Unlocking the investment potential of OR Tambo Special Economic Zone

Focus On Gauteng Provincial Budget 2024/25

Sanlam reports record 2023 earnings on acquisitions, India growth spurt

Can Nigeria’s equities sustain rebound?

UBA: Investors await results of mid-week PMA

DMO conducts ₦337.89bn T-Bills auction

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Advertise With Us

CNBC Africa

Focus On: Obafemi Awolowo Prize for Leadership Award and Keynote Lecture

Africa Business Forum 2024: Scaling-up transformative initiatives for developmental impact

Mobilizing Domestic Savings to Boost the Private Sector in Rwanda

AI Africa: How AI can unlock South Africa’s economic potential

Nigeria’s headline inflation hits 31.7% in February

Discover Rwanda: Rumble in Rwanda

Access: Investors flock new one-year T-bills

Focus On: South Sudan’s Oil Sector: A Promising Future Ahead

South Africa’s WeBuyCars poised for growth after unbundling

Higher stop rates expected at PMA

South Africa, Namibia seek to build $377mn Transport Infrastructure Fund

Eye on OR Tambo SEZ EP1: Unlocking the investment potential of OR Tambo Special Economic Zone

Focus On Gauteng Provincial Budget 2024/25

Sanlam reports record 2023 earnings on acquisitions, India growth spurt

Can Nigeria’s equities sustain rebound?

UBA: Investors await results of mid-week PMA

DMO conducts ₦337.89bn T-Bills auction

News Tips

Advertise With Us

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