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<p>The Central Bank of Nigeria’s Monetary Policy Committee has raised the Monetary Policy rate by 400 basis points to 22.75 per cent. The Governor of apex bank, Yemi Cardoso announced this after the first MPC meeting for this year.</p>


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Nigeria MPC hikes MPR by 400bps to 22.75% (full speech)

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<p>Analysts say they expect the Monetary Policy Committee of the Central Bank of Nigeria to increase monetary policy rate, stressing that the level of hike is dependent on how soon the committee hopes to address issues like rising inflation and interest rates.</p>


How much rate hike will Nigeria’s MPC adopt?


<p>South Africa&#8217;s Minister of Finance, Enoch Godongwana delivers one of his most challenging budget speeches amid the slowest growth rate in years and a tough election challenge for the ruling party. For post-Budget analysis, CNBC Africa brings you 2024 BUDGET INSIGHTS, unpacking the difficult balancing act required of the minister against increasing global uncertainty and fracturing world alliances.</p>



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<p><strong>Watch the full Post-Budget panel here:</strong></p>



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<iframe loading="lazy" title="South Africa 2024 Post-Budget Insights" width="500" height="281" src="https://www.youtube.com/embed/x3fFl_znSrY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Post Budget Insights

South Africa 2024 Post-Budget Insights

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<p>Analysts say investors at the equities market are trading cautiously as they await the outcome of the ongoing Monetary Policy Committee MPC meeting. Meanwhile, limited bargain-hunting activity is expected near term due to prevailing sentiments driven by movements in fixed income market yields and earnings releases. Olumide Sole, Research Analyst at Vetiva Capital joins CNBC Africa for more market updates.</p>


Investors await outcome of Nigeria’s MPC meeting

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<p>Bernard Sang from Kenya emerges winner of the 42-kilometer race at this year’s Access Bank Lagos City Marathon. CNBC Africa in this special broadcast brings you details of the 9th edition of the Gold Label event.</p>


Focus On Access Bank Lagos City Marathon 2024

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<p>Analysts believe the Nigerian equities will sustain the mixed sentiments witnessed this week as investors await the outcome of next week’s Monetary Policy Committee meeting. Patrick Ejumedia, Head of Sterling Asset Management and Trustees, joins  CNBC Africa for a market discussion.</p>


Nigerian equities to see mixed-to-bearish sentiment

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<p>Traders at UBA say though System liquidity was further depressed this week following the treasury bills auction settlement, the expected 1.15 trillion FAAC inflow will elevate system liquidity. Kenneth Onuoha, Team Member, Assets and Liabilities at UBA joins CNBC Africa for more market updates as investors eye next week’s Monetary Policy decision.</p>


UBA: ₦1.15trn FAAC inflow to elevate system liquidity

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<p>In this edition of Top Employers, we speak to a global authority that recognizing excellence in people practices, the Top Employers Institute Certification Programme on the latest cohort of companies that have been certified with Top Employers status for 2024.</p>


Top Employers: Exploring Top Employers Certification 2024

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<p>Emerging Africa Group releases the third edition of its Africa Capital Market report which looks at 5 key economies in Africa. CNBC Africa brings you takeaways from the report.<br />
On this episode, we’ll put a spotlight on the third edition of the Emerging Africa Groups Africa Capital market report which looks at the key metrics for growth for five key African markets Despite a challenging 2023 for global economies, the emerging Africa Group believes 2024 holds a more positive outlook for major African economies.</p>


Focus On Emerging Africa Group’s 3rd Africa Capital Markets Report

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<p>Traders at Access Bank say investors continue to take profit on their winnings as post-auction activities take center stage this week. Kolawole Komolafe, Treasury Team Member at Access Bank joins CNBC Africa for more market updates.</p>


Access: Investors take profit on post auction winnings

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<p>South Africa&#8217;s Minister of Finance, Enoch Godongwana delivers one of his most challenging budget speeches amid the slowest growth rate in years and a tough election challenge for the ruling party. For post-Budget analysis, CNBC Africa brings you 2024 BUDGET INSIGHTS, unpacking the difficult balancing act required of the minister against increasing global uncertainty and fracturing world alliances.</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="562" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/77VC4ZKBPBPJFFYBYJIHNWEQ6I-820x562.jpg" alt="" class="wp-image-427280" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/77VC4ZKBPBPJFFYBYJIHNWEQ6I-820x562.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/77VC4ZKBPBPJFFYBYJIHNWEQ6I-300x206.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/77VC4ZKBPBPJFFYBYJIHNWEQ6I-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/77VC4ZKBPBPJFFYBYJIHNWEQ6I-768x526.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1536x1052.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/77VC4ZKBPBPJFFYBYJIHNWEQ6I-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Customers push trolleys as they shop at a Pick n Pay store at the Trade Route Mall, in Lenasia outside Johannesburg, South Africa, February 8, 2023. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



<p>Pick n Pay, South Africa’s second largest grocery chain, slumped after announcing a share sale and plans to unbundle its fast growing Boxer chain as it struggles to cope with surging costs and competition from larger rival Shoprite Holdings.</p>



<p>“Our balance sheet needs to be restructured and stabilised,” Chief Executive Officer Sean Summers said in a statement. “This is the appropriate action, at the right time, to help our turnaround strategy.’’</p>



<p>Shares of the Cape Town based retailer dropped as much as 17.5 percent as it announced it may need to ask investors for as much as 4 billion rand ($208 million) in a rights offer by the middle of the year to stabilise the business. The stock is down more than 20 percent in the past six months versus a 4.7 percent gain by Shoprite Holdings.</p>



<p>The company said in a statement to the stock exchange in Johannesburg it will report an earnings, headline earnings and pro-forma headline earnings loss for the year ending February 28 mainly due to under-performance by its main Pick n Pay business, exacerbated by power cuts and restructuring and supply chain costs.</p>



<p>Pick n Pay recalled former CEO Summer last year as it reported a half-year loss and scrapped its dividend. The company has battled to win back customers from competitors including Shoprite and luxury retailer Woolworths Holdings. A new strategy introduced by former CEO Pieter Boone last year failed to turn the tide, forcing the company to recall Summers.</p>



<p>Last month, the company appointed a new leadership team, saying it was a key step in returning its main supermarket business to growth, while growing the Online business, Boxer and Clothing chains. The new executives would focus on simplifying the product offer to customers and buying merchandise, it said.</p>



<p>“We have totally reorganised our leadership team and strengthened and simplified our operational structure to drive rapid decision making, focusing on better in-store execution and excellent customer service,” said Summers.</p>



<p>“Cutting debt and creating a sustainable platform for investment in growth is the next big step towards unlocking the Group’s clear potential, and more details of our turnaround plan will be announced when we release our results in May.”</p>



<p>For the 47-weeks to January 21, the company said Pick n Pay Supermarkets reported a 0.1 percent drop in sales while inventory sales rose. The underperformance, together with investments in Boxer, the clothing and online business asap! almost doubled total debt to 7.2 billion rand.</p>



<p>The Boxer business meanwhile lifted sales by 17.1% during the same period, with like-for-like revenue up 7.3%. Pick n Pay Clothing stores reported sales up 17.5% as the Pick n Pay online revenue jumped 75.8 percent.</p>


FILE PHOTO: Pick n Pay sales grow but warns on extra costs from power cuts

Pick n Pay Plunges After Announcing Full-year Loss, Stock Sale

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<p>The Governor of the National Bank of Rwanda, John Rwangombwa has announced that Rwanda&#8217;s monetary policy rate will be maintained at 7.5 per cent. This decision follows a review of the economy from November 2023 to February 2024. The last MPC meeting in November 2023 also maintained the lending rate at 7.5 per cent. with the last increment in August 2023 of 50 basis points. Inflation currently stands at 5 per cent, falling within the target band, with the decline in core inflation attributed to improved rainfall and softer energy prices and high sectorial performance. The Governor noted that global developments could influence future monetary policy outcomes.</p>


National Bank of Rwanda maintains policy rate at 7.5%

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<p>Developing 21st-century, state-of-the-art real estate takes zest, intuition and technical knowledge about the industry. The team at GText Homes, believe they have these to develop smart and green homes for the African market.</p>


Focus On: Redefining Real Estate in Nigeria

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<p>The Africa Business Forum 2024, a pivotal event which recently took place in Addis Ababa, Ethiopia. Spearheaded by Claver Gatete, the UN Deputy Secretary-General and Executive Secretary of the Economic Commission for Africa, this gathering marks a significant milestone in shaping the continent&#8217;s future. Under the overarching theme of &#8220;Boosting Africa’s Transformation through Education, Science, Technology, and Innovation,&#8221; leaders, innovators, and visionaries converge to explore pathways for sustainable growth and development.</p>


ABF 2024: Boosting Africa’s Transformation through Education, Science, Technology & Innovation

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<p>(Watch Full speech) &#8211; South Africa’s Finance Minister Enoch Godongwana delivers the 2024 budget speech in which he details measures to tackle government’s spiralling debt.</p>


SA Finance Minister Enoch Godongwana delivers 2024 Budget Speech

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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 265.5 billion-naira T-bills auction following the subscription levels recorded from Monday’s 2.5trillion naira bond auction. Chuka Nwachukwu, Head of ALM and Balance sheet management joins CNBC Africa to assess this year’s auctions and investment appetite.</p>


CNBC Africa

Nigeria MPC hikes MPR by 400bps to 22.75% (full speech)

How much rate hike will Nigeria’s MPC adopt?

South Africa 2024 Post-Budget Insights

Investors await outcome of Nigeria’s MPC meeting

Focus On Access Bank Lagos City Marathon 2024

Nigerian equities to see mixed-to-bearish sentiment

UBA: ₦1.15trn FAAC inflow to elevate system liquidity

Top Employers: Exploring Top Employers Certification 2024

Focus On Emerging Africa Group’s 3rd Africa Capital Markets Report

Access: Investors take profit on post auction winnings

South Africa 2024 Post-Budget Insights

Pick n Pay Plunges After Announcing Full-year Loss, Stock Sale

National Bank of Rwanda maintains policy rate at 7.5%

Focus On: Redefining Real Estate in Nigeria

ABF 2024: Boosting Africa’s Transformation through Education, Science, Technology & Innovation

SA Finance Minister Enoch Godongwana delivers 2024 Budget Speech

Will Nigeria secure more FPIs via bigger auctions?

News Tips

Advertise With Us

CNBC Africa

Nigeria MPC hikes MPR by 400bps to 22.75% (full speech)

How much rate hike will Nigeria’s MPC adopt?

South Africa 2024 Post-Budget Insights

Investors await outcome of Nigeria’s MPC meeting

Focus On Access Bank Lagos City Marathon 2024

Nigerian equities to see mixed-to-bearish sentiment

UBA: ₦1.15trn FAAC inflow to elevate system liquidity

Top Employers: Exploring Top Employers Certification 2024

Focus On Emerging Africa Group’s 3rd Africa Capital Markets Report

Access: Investors take profit on post auction winnings

South Africa 2024 Post-Budget Insights

Pick n Pay Plunges After Announcing Full-year Loss, Stock Sale

National Bank of Rwanda maintains policy rate at 7.5%

Focus On: Redefining Real Estate in Nigeria

ABF 2024: Boosting Africa’s Transformation through Education, Science, Technology & Innovation

SA Finance Minister Enoch Godongwana delivers 2024 Budget Speech

Will Nigeria secure more FPIs via bigger auctions?

News Tips

Advertise With Us

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