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<p>The treasury bills market is quiet today with investors focusing on today’s 211 billion naira treasury bills primary market auction. Chuka Nwachukwu, Head of ALM &#038; Balance Sheet Management at UBA joins CNBC Africa for some market updates.</p>


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T-Bills mute on ₦211bn primary market auction

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<p>Traders at Access Bank say they expect minimal activities in the market as investors turn their attention to the  ₦211-billion treasury bill auction. Tobechukwu Ikpe, Treasury Team Member at Access Bank, joins CNBC Africa to discuss sentiments in the market today&#8230;.</p>


Investors eye ₦211bn T-Bills auction

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<p>Traders at Access Bank say they expect minimal activities in the market as investors turn their attention to the  ₦211-billion treasury bill auction. Tobechukwu Ikpe, Treasury Team Member at Access Bank, joins CNBC Africa to discuss sentiments in the market today.</p>


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<p>Electric vehicles, autonomous driving and sustainability. These are some of the trends moving the automotive industry worldwide. Joining CNBC Africa to map out how these trends navigating Africa’s car market are Ndia Magadagela, CEO, MAXUS Electric Vehicles; Amith Singh, National Manager: Manufacturing, Nedbank and Adrian Hammond, Mining Equities Analyst, Standard Bank.</p>


The Power Table: The future of EVs


<p>At the beginning of 2023, in January, as per <em>Forbes</em>, the African continent’s 19 billionaires were worth an estimated $81.8 billion. Nigeria’s Aliko Dangote was Africa’s richest person for the 12th year in a row, followed by South African luxury goods magnate Johann Rupert with $10.7 billion. The African country with the most billionaires, five in all, was South Africa, followed by Egypt with four and Nigeria with three.</p>



<p>Fortunes rise and fall but never the drive and tenacity of these men driving African business. We present a ranking of the African continent’s 11 richest people today, as per real-time net worth figures from <em>Forbes </em>as of November 22 2023.</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1500244451-820x547.jpg" alt="" class="wp-image-429294" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1500244451-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1500244451-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1500244451-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1500244451-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1500244451.jpg 1024w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">ACCRA, GHANA &#8211; JUNE 18: Mr. Aliko Dangote, Chairman and CEO, Dangote Group speaks at the African Export-Import Bank (Afreximbank) Annual Meeting on June 18, 2023 at the Accra International Conference Center in Accra, Ghana. | (Photo by Ernest Ankomah/Getty Images)</figcaption></figure>



<p><strong>Aliko Dangote’s</strong> real-time net worth is $10.1 billion. The 66-year-old self-made billionaire in cement and sugar founded and chairs Dangote Cement, the continent&#8217;s largest cement producer, which has the capacity to produce 48.6 million metric tons annually and has operations across Africa. After many years in development, Dangote&#8217;s fertilizer plant in Nigeria began operations in March 2022. Dangote told <em>Forbes</em> that when he was young, he bought sweets, gave them to others to sell, and he kept the profits. </p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1726096135-820x546.jpg" alt="" class="wp-image-429293" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1726096135-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1726096135-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1726096135-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1726096135-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1726096135.jpg 1024w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Johann Rupert, The Chairman and CEO of Richemont embraces Matt Fitzpatrick of England on the 18th green during Round Three on Day Five of the Alfred Dunhill Links Championship at the Old Course St. Andrews on October 09, 2023 in St Andrews, Scotland. (Photo by Octavio Passos/Getty Images)</figcaption></figure>



<p><strong>Johann Rupert and family</strong> is worth $9.7 billion as of November 22 2023. The 73-year-old South African luxury business magnate residing in Cape Town is chairman of Swiss luxury goods firm Compagnie Financiere Richemont that’s best known for the brands Cartier and Montblanc. He is Africa’s second richest man and is married with three children.</p>



<p><strong>Nicky Oppenheimer and family</strong>, with a net worth of $8.3 billion, is at number three on the African continent. The South Africa-based Oppenheimer, 77, heir to the DeBeers diamond fortune, sold his 40% of the firm to mining group Anglo American for $5.1 billion in cash in 2012. For 85 years until 2012, the Oppenheimer family occupied a controlling spot in the world&#8217;s diamond trade.</p>



<p><strong>Nassef Sawiris</strong> is the Cairo resident, with a real-time net worth of $6.9 billion. An investor and a scion of Egypt&#8217;s wealthiest family, his most valuable asset is a nearly 6% stake in sportswear maker Adidas. The 62-year-old in construction and investments also runs OCI, one of the world&#8217;s largest nitrogen fertilizer producers, with plants in Texas and Iowa.</p>



<p>Also from Nigeria, the continent’s biggest economy, is <strong>Abdulsamad Rabiu</strong> with a real-time net worth of $6.4 billion. The 63-year-old’s origin of wealth is cement and sugar. He is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled.</p>



<p><strong>Issad Rebrab and family</strong> have a net worth of $4.6 billion. The 79-year-old Algerian founded Cevital and served as its CEO for more than 50 years. He named his son, Malik, CEO in July 2022. Cevital, Algeria&#8217;s biggest privately-held company, owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year.</p>



<p><strong>Mohamed Mansour</strong>’s net worth is at $3.6 billion. The self-made 75-year-old Egyptian businessman oversees family conglomerate Mansour Group, which was founded by his father Loutfy (d. 1976) in 1952 and has 60,000 employees. Mansour established General Motors dealerships in Egypt in 1975, later becoming one of GM&#8217;s biggest distributors worldwide.</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1043360968-820x547.jpg" alt="" class="wp-image-429291" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1043360968-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1043360968-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1043360968-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1043360968-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1043360968.jpg 1024w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">HURGHADA, EGYPT &#8211; SEPTEMBER 28:  Egyptian businessman and founder of El Gouna FIlm Festival Naguib Sawiris takes to the red carpet at the closing ceremony of the 2nd El Gouna Film Festival on September 28, 2018 in Hurghada, Egypt.  (Photo by Jonathan Rashad/Getty Images)</figcaption></figure>



<p><strong>Naguib Sawiris</strong> with a real-time net worth of $3.3 billion is a scion of Egypt&#8217;s wealthiest family. His brother Nassef is also a billionaire. He built a fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction.</p>



<p>Yet another notable businessman from Nigeria is the 70-year-old <strong>Mike Adenuga</strong>, whose real-time net worth is $3.1 billion as per <em>Forbes. </em>He built his fortune in telecom and oil production.The self-made Lagosianis known for having made his first million at age 26 selling lace and distributing soft drinks.</p>



<p>Cape Town-based <strong>Koos Bekker</strong>, 70, is worth $2.4 billon as of November 22, and is revered for transforming South African newspaper publisher Naspers into an e-commerce investor and cable TV powerhouse. His Babylonstoren estate, nearly 600 acres in South Africa&#8217;s Western Cape region, features architecture dating back to 1690, a farm, orchard and vineyard and more.</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1470197532-820x547.jpg" alt="" class="wp-image-429292" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1470197532-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1470197532-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1470197532-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1470197532-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/11/GettyImages-1470197532.jpg 1024w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">PARIS, FRANCE &#8211; FEBRUARY 27: Patrice Motsepe poses for a photo on the Green Carpet ahead of The Best FIFA Football Awards 2022 on February 27, 2023 in Paris, France. (Photo by Lionel Hahn/Getty Images)</figcaption></figure>



<p><strong>Patrice Motsepe</strong> has a net worth today of $2.3 billion. The mining tycoon is the founder and chairman of African Rainbow Minerals. He became a billionaire in 2008 – the first black African on the <em>Forbes</em> list. In 2016, he launched a private equity firm, African Rainbow Capital, focused on investing in Africa. Motsepe is also the president and owner of Mamelodi Sundowns, one of the most valuable clubs in Africa. In March 2021, he was elected president of the Confederation of African Football.</p>


The International Monetary Fund and World Bank Annual Meetings

The Richest People In Africa

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<p>Trade in Africa has grown modestly in recent decades, expanding from 49 per cent of GDP in 2000 to 53 per cent by 2019, according to the International Monetary Fund’s 2023 report on Trade Integration in Africa. This Focus On episode gives an overview of African trade and some of its unique challenges as we scope the CIIE, AGOA, and the IATF &#8211; three trade forums that all occurred in November.</p>


Focus On: Exploring trade integration in Africa


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-820x547.jpg" alt="" class="wp-image-419915" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The World Bank Group headquarters in Washington, D.C., U.S., on Tuesday, April 19, 2022. The International Monetary Fund (IMF) slashed its world growth forecast by the most since the early months of the Covid-19 pandemic, and projected even faster inflation, after Russia invaded Ukraine and China renewed virus lockdowns. Photographer: Al Drago/Bloomberg via Getty Images</figcaption></figure>



<p>The World Bank, Germany and the African Development Bank have agreed to provide $1.9 billion in funding for South Africa’s Just Energy Transition plan as the country scrambles to overcome power shortages that have curtailed economic growth in the past two years.</p>



<p>South Africa’s National Treasury said the concessional loans will enable it to raise other funding at affordable rates and would also be used in funding its reforms. The World Bank is providing $1 billion while the AfDB will give $300 million dollars with Germany’s KfW bank lending $547 million.</p>



<p>The loans &#8220;…are in line with the National Treasury’s funding strategy to diversify its funding mix for international borrowing and access concessional financing instruments offered by the development partners to support government’s key reforms under climate change and the electricity sector,’’ the government said in a statement. &#8220; These facilities also enable the National Treasury to raise funding at very affordable rates which help to reduce the government public debt.’’</p>



<p>South Africa is battling its worst power shortages this year as power utility Eskom struggles to keep its ageing coal-fired power stations operating. The government has in response agreed an $8.5 billion energy transition plan with donors which it has lately suggested needs refinement.</p>



<p>Yesterday, South Africa announced it had approved an implementation plan for the program, which it said will guide the country’s transition to a low carbon economy by scaling up power from renewable energy sources. &nbsp;</p>



<p>Minister in The Presidency, Khumbudzo Ntshavheni, said the plan will be a combination of reforms in the energy sector, including the Mpumalanga Just Transition, new energy vehicles and green hydrogen.</p>



<p>The World Bank, Germany and AfDB loans have grace periods ranging from two to five years while repayment terms are from 12 to 15 years.</p>



<p>&#8220;These agreements signify and reinforce the excellent collaborative efforts between the Government of Germany, World Bank and AfDB and our government, that has ensured the successful conclusion of the loans,’’ the National Treasury said.</p>



<p></p>


IMF And World Bank Headquarters During Virtual Spring Meetings

World Bank, Germany and AfDB fund South Africa’s Just Energy Transition

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<p>This panel discussion from the African Economic Conference 2023 held in Ethiopia, explores the role of Special Economic Zones in promoting sustainable development in Africa.</p>


African Economic Conference 2023: Role of SEZs in Africa’s economic development

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<p>#Sponsored #RenewableEnergy #energy #electricity<br />
As the need for reliable #electricity and sustainable #energy solutions continues to grow on the African continent, Standard Bank Group remains committed to partnering with businesses that are working to address this challenge. This is evident in Episode 5 of their #WeBelieveInHere series which showcases their partnership with GoSolr to expand access to reliable #RenewableEnergy solutions across South African households.<br />
In case you missed any of the previous episodes, click here: https://www.youtube.com/playlist?list=PLJhJA-CAzaZF5Tbfx6LF76QWCN1I1PxXl</p>


#WeBelieveInHere Episode 5

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<p>Analysts at Meristem Securities expect the equities market to remain mixed with a positive tilt. Victory George, Investment Research Analyst at Meristem Securities joins me now for more market updates.</p>


Meristem: Mixed sentiments to prevail at equities market

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<p>Traders at UBA expect continued bearish sentiments in the bonds secondary market to linger for the rest of this month. Meanwhile, investors are taking position ahead of next week’s 211 billion naira treasury bills auction. Chuka Nwachukwu, Head of ALM &#038; Balance Sheet Management at UBA joins CNBC Africa for more market updates.</p>


UBA: Bond market to remain bearish through November

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<p>The 2023 edition of the African Economic Conference, under the theme &quot;Imperatives for sustainable industrial development in Africa” provides a platform for established academics and young researchers to present their solution-oriented research to policymakers and decision-makers&#8230;.</p>


Opening Ceremony of the 2023 African Economic Conference

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<p>Rwanda has defied traditional expectations and norms by hosting prestigious global competitions over the past few years making it a prominent contender for sporting events destinations in Africa. Join us in as we witness Rwanda&#8217;s extraordinary journey in &#8216;Making of a Sports Hub&#8217;&#8230;.</p>


Discover Rwanda: Making of a Sports Hub

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<p>The Closing Ceremony at the Intra-Africa Trade Fair 2023 wraps up the eight-day event hosted this year in Cairo, Egypt. The IATF is known as the AfCFTA marketplace as it connects African markets and deepens access to trade on the continent&#8230;.</p>


Intra-Africa Trade Fair 2023: Closing Ceremony

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<p>Women in science often gets overlooked. However, with today&#8217;s global challenges like climate change it would be a remiss to not acknowledge and recognize the role women fulfil in the scientific community. In this Focus On Zanele Morrison speaks to L’Oréal Foundation&#8217;s CEO, Alexandra Palt about what they are doing to advance women in this field&#8230;.</p>


Focus On L’Oréal Foundation: Women in Science Africa

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<p>The Dubai Business Forum returned in early November, welcoming global corporations from different industries to cultivate international networks, forge partnerships and unlock new opportunities between the different regions. This Highlights Special will bring key voices from the business forum as we learn about Dubai&#8217;s D33 target and where Africa lies in this&#8230;.</p>


Dubai Business Forum 2023: Highlights Special

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<p>Joining CNBC Africa for this discussion are Patient Tambwe, Executive Chairman, African Desk; Mansur Ahmed, Chairman, Pan-African Manufacturers Association; Charles Odii, CEO, Smedan and Prudence Sebahizi, Director, Institutional Matters, AfCFTA Secretariat&#8230;.</p>


CNBC Africa

T-Bills mute on ₦211bn primary market auction

Investors eye ₦211bn T-Bills auction

Investors eye ₦211bn T-Bills auction

The Power Table: The future of EVs

The Richest People In Africa

Focus On: Exploring trade integration in Africa

World Bank, Germany and AfDB fund South Africa’s Just Energy Transition

African Economic Conference 2023: Role of SEZs in Africa’s economic development

#WeBelieveInHere Episode 5

Meristem: Mixed sentiments to prevail at equities market

UBA: Bond market to remain bearish through November

Opening Ceremony of the 2023 African Economic Conference

Discover Rwanda: Making of a Sports Hub

Intra-Africa Trade Fair 2023: Closing Ceremony

Focus On L’Oréal Foundation: Women in Science Africa

Dubai Business Forum 2023: Highlights Special

The Power Table: Unlocking opportunities in the AfCFTA

News Tips

Advertise With Us

CNBC Africa

T-Bills mute on ₦211bn primary market auction

Investors eye ₦211bn T-Bills auction

Investors eye ₦211bn T-Bills auction

The Power Table: The future of EVs

The Richest People In Africa

Focus On: Exploring trade integration in Africa

World Bank, Germany and AfDB fund South Africa’s Just Energy Transition

African Economic Conference 2023: Role of SEZs in Africa’s economic development

#WeBelieveInHere Episode 5

Meristem: Mixed sentiments to prevail at equities market

UBA: Bond market to remain bearish through November

Opening Ceremony of the 2023 African Economic Conference

Discover Rwanda: Making of a Sports Hub

Intra-Africa Trade Fair 2023: Closing Ceremony

Focus On L’Oréal Foundation: Women in Science Africa

Dubai Business Forum 2023: Highlights Special

The Power Table: Unlocking opportunities in the AfCFTA

News Tips

Advertise With Us

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