<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg" alt="" class="wp-image-536645" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, March 4 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand weakened early on Tuesday ahead of local gross domestic product (GDP) figures and as investors braced for the impact of U.S. President Donald Trump&#8217;s tariffs.



At 0715 GMT, the rand traded at 18.64 against the U.S. dollar, about 0.3% weaker than its previous close.



The dollar last traded slightly weaker against a basket of currencies.



Trump said on Monday that 25% tariffs on Canada and Mexico will go into effect on Tuesday with reciprocal tariffs starting April 2.



Domestically-focussed investors will look to fourth quarter GDP figures at 0930 GMT for clues on the health of Africa&#8217;s most industrialised economy.



Economists polled by Reuters forecast an expansion of 0.9%.



&#8220;A stronger (GDP) print could support ZAR (the rand), but budget concerns remain a risk factor,&#8221; said Andre Cilliers, currency strategist at TreasuryONE, referring to the ruling coalition&#8217;s lack of consensus on the national budget which led to its postponement last month.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded down about 0.7%.



South Africa&#8217;s benchmark 2030 government bond was little changed in early deals, with the yield at 9.085%.



(Reporting by Sfundo Parakozov; Editing by Tannur Anders and Andrew Heavens)

New South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg

South African rand weaker ahead of local GDP data, Trump tariffs in focus

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3496" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/CR5EVVJ5Y5PO3E7GJQQP4SZ5Y4.avif" alt="" class="wp-image-593310"/><figcaption class="wp-element-caption">A MultiChoice logo is displayed outside the company&#8217;s building in Cape Town, South Africa February 2, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



March 4 (Reuters) &#8211; Canal+ has extended the deadline for its takeover of South Africa&#8217;s pay TV broadcaster MultiChoice by six months to give regulators more time to clear the deal, the French group said on Tuesday as it forecast a drop in revenue this year.



If completed, the acquisition would be transformative for Canal+ as part of its expansion strategy in Africa, particularly in English-speaking regions, following its split from Vivendi in December.



However, the broadcaster&#8217;s shares have declined by 40% since its mid-December market debut in London.



The process to get clearances for the merger will not be completed by the initial deadline of April 8, 2025, the company said, prompting the decision to extend the process to October 8.



&#8220;The timing of this transaction is critical and we will continue working tirelessly to ensure finalisation within this timeframe,&#8221; Canal+&#8217;s CEO Maxime Saada said in a joint statement on the extension issued by Canal+ and MultiChoice.



<h2 class="wp-block-heading" id="h-cautious-outlook-but-earnings-upbeat">CAUTIOUS OUTLOOK BUT EARNINGS UPBEAT</h2>



Canal+ expects organic growth in revenue this year but this will be &#8220;slightly more than offset&#8221; by a negative impact from the recent end of broadcasting of its free to air channel C8 in France and the termination of third-party contracts, including one with Disney.



It sees moderate growth in the following years, not including any impact from the MultiChoice acquisition.



On Tuesday, the Paris-based broadcaster reported a 2.3% rise in revenue in 2024 to 6.4 billion euros ($6.7 billion) and 4.2% growth in adjusted earnings before interest and taxes (EBIT) to 503 million euros.



Canal+&#8217;s shares edged up 0.6% by 0832 GMT.



Founded in 1984 as a subscription-TV channel in France, Canal+ is transitioning into a global content platform, aiming to quintuple its subscribers to 100 million.



The company attributes 80% of its revenue to subscription fees, with cinema &#8211; via its Studiocanal unit behind the Paddington film series &#8211; driving subscriber engagement.



Canal+ racked up 26.93 million total subscribers in 2024, of which 17.24 million in Europe and 9.69 million in Africa and Asia.



The company is prioritising direct-to-consumer subscribers, who account for 19.9 million of its total subscriber base, compared to 7 million from wholesale channels.



($1 = 0.9537 euros)



(Reporting by Leo Marchandon and Gianluca Lo Nostro in Gdansk, Florence Loèeve in Paris and Paul Sandle in London; Editing by Varun H K, Emelia Sithole-Matarise and Susan Fenton)

CR5EVVJ5Y5PO3E7GJQQP4SZ5Y4

Canal+ extends deadline for MultiChoice takeover, sees no revenue growth in 2025

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3150" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/S6HQ7VEU4ROAHDG56OUF4DYLEI-1.avif" alt="" class="wp-image-593292"/><figcaption class="wp-element-caption">A general view shows a street in Kigali, Rwanda, April 26, 2024. REUTERS/Jean Bizimana/File Photo </figcaption></figure>



March 4 (Reuters)&nbsp;&#8211;&nbsp;Rwanda said on Tuesday that Canada&#8217;s position on the conflict in eastern Democratic Republic of Congo was &#8220;shameful&#8221;, adding that measures announced by Ottawa against Kigali would not solve the conflict.



Late on Monday, Canada announced it had suspended the issuance of permits for the export of controlled goods and technologies to Rwanda, as well as suspending pursuing new government-to-government business and trade missions with Rwanda, and support to private-sector business development activities.



It also said it would review Canadian government participation at international events hosted by Rwanda in the future.



Canada joins the European Union and the United Kingdom that have also announced plans to suspend bilateral aid to Rwanda. The U.S. also announced sanctions against James Kabarebe, a Rwandan state minister for foreign affairs.



The Tutsi-led M23 rebel group entered the city of Goma at the end of January and have since made an unprecedented advance into eastern Congo, capturing territory and getting access to valuable minerals.



Their ongoing onslaught, which started in late December, is already the gravest escalation of a long-running conflict rooted in the spillover into Congo of Rwanda&#8217;s 1994 genocide and the struggle for control of Congo&#8217;s vast mineral resources.



Congo, U.N. experts and Western powers accuse Rwanda of backing the group.



Rwanda denies this and says it is defending itself against ethnic Hutu-led militias bent on slaughtering Tutsis in Congo and threatening Rwanda.



On Monday, Canada&#8217;s Foreign Affairs, International Development; and Export Promotion, International Trade and Economic Development ministers repeated the accusations against Rwanda while announcing the suspensions.



(Reporting by George Obulutsa in Nairobi; Editing by Ammu Kannampilly and Lincoln Feast.)

S6HQ7VEU4ROAHDG56OUF4DYLEI (1)

Rwanda says Canada export permit, business suspension over Congo war ‘shameful’

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<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="604" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE.avif" alt="" class="wp-image-593025"/><figcaption class="wp-element-caption">A logo of the World Food Program is seen at their headquarters after the WFP won the 2020 Nobel Peace Prize, in Rome, Italy October 9, 2020. REUTERS/Remo Casilli/File Photo</figcaption></figure>



JOHANNESBURG, March 3 (Reuters)&nbsp;&#8211;&nbsp;The United Nations&#8217; World Food Programme, which gets much of its funding from the United States, is closing its southern African bureau, a&nbsp;communications officer&nbsp;said on Monday.



The&nbsp;WFP&#8217;s decision&nbsp;was communicated to staff around the world in an email on Friday from Global Executive Director Cindy McCain.&nbsp;The email said, &#8220;We have reached the difficult decision to close WFP&#8217;s regional bureau for southern Africa in Johannesburg,&#8221;according to Bloomberg News.



A WFP communications officer in Johannesburg told Reuters in a text message, &#8220;Yes the bureau is closing,&#8221; but did not respond to questions about why, or whether this was related to sweeping U.S. foreign aid cutsordered by President Donald Trump.



Southern Africa is still reeling from its worst drought in years, which caused countries including Malawi, Zambia, Zimbabwe, and Namibia to declare a national disaster.



WFP has been providing food and cash assistance to those affected and was aiming to reach more than 7.2 million people by this month, it said on its website.



(Reporting by Nellie Peyton in Johannesburg, Rishabh Jaiswal in Bengaluru; editing by Hugh Lawson and Mark Heinrich)

4DD3KSJUWZJVRLWSLRI4HQBDVE

UN’s food agency WFP closes southern African bureau

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1005" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/HWPGQTLYHJLYXAPSSSZN7XH4SU.avif" alt="" class="wp-image-592974"/><figcaption class="wp-element-caption">A general view of the Pretoria skyline with smog in the air taken from the Union Buildings, Pretoria, South Africa, June 19, 2024. PHILL MAGAKOE/Pool via REUTERS/File Photo</figcaption></figure>



JOHANNESBURG, March 3 (Reuters)&nbsp;&#8211;&nbsp;South African manufacturers reported a continued deterioration in business conditions in February, a local purchasing managers&#8217; index (PMI) survey showed on Monday.



The seasonally-adjusted PMI sponsored by South African bank Absa slipped to 44.7 points in February from 45.3 in January, falling further below the 50-point mark that separates expansion from contraction.



&#8220;This is the fourth consecutive contraction, as activity remains subdued. The manufacturing sector has seemingly not picked up following its poor performance towards the end of last year,&#8221; Absa said in a statement.



Respondents flagged a fall in business activity as a response to both a decline in demand and input supply issues.



Export sales also fell further into contractionary territory mainly owing to lower-than-expected demand, global trade disagreements and logistics issues.



&#8220;Uncertainties about global trade dynamics continued, with some respondents flagging that increased tension in SA-US relations had specifically worsened their prospects,&#8221; Absa said.



President Donald Trump cut U.S. financial assistance to South Africa in an executive order last month, citing disapproval of its approach to land reform and its genocide case against Washington&#8217;s close ally Israel at the World Court.



Absa said the return of scheduled power cuts after months of consistent supply may have also weighed on sentiment last month.



(Reporting by Tannur Anders; Editing by Alexander Winning)

HWPGQTLYHJLYXAPSSSZN7XH4SU

South African manufacturing sentiment worsens further, Absa PMI shows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/Illustration</figcaption></figure>



JOHANNESBURG, March 3 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand firmed early on Monday, ahead of a purchasing managers&#8217; index (PMI) survey for the domestic manufacturing sector.



At 0725 GMT, the rand traded at 18.66 against the U.S. dollar, about 0.3% stronger than its previous close.



The Absa PMI for February is set to be released at 0900 GMT and will shed light on manufacturing conditions in Africa&#8217;s most industrialised economy.



The dollar was little changed against a basket of currencies as investors processed U.S. President Donald Trump&#8217;s tariff policies, the delay in finding peace in Ukraine and the prospect of a weaker U.S. economy.



Analysts said the rand will continue to take its direction from the broader movements of the dollar for the time being.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded up about 0.9%.



South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 3 basis points to 9.175%.



(Reporting by Sfundo Parakozov; Editing by Tannur Anders and Ros Russell)

Illustration photo of South African rand

South African rand firms ahead of manufacturing PMI

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMG_0611-820x547.jpg" alt="" class="wp-image-592885" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMG_0611-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMG_0611-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMG_0611-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMG_0611-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMG_0611-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMG_0611-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Madelain Roscher, CEO of PR Worx, Africa&#8217;s Best Public Relations Agency</figcaption></figure>



In today’s competitive business landscape, communications is not just about visibility, it’s about value. CEOs and business leaders are under constant pressure to justify every investment, yet many still view public relations and marketing as intangible functions, difficult to quantify and even harder to link to financial performance. That mindset is a costly mistake. A well-executed communications strategy should be more than a brand-building exercise; it must serve as a direct contributor to business growth, stakeholder trust, and market positioning. The real question is not whether your company is communicating, but whether your communications strategy is measurably driving bottom-line results.



Beyond Awareness: Communications Must Drive Business Results



For years, communications strategies have prioritized media coverage, brand exposure, and public perception. While these are important, they mean little if they do not translate into commercial success. In a business environment where data-driven decision-making is the norm, communications should be no different.



A high-impact communications strategy must:



<ul class="wp-block-list">
<li>Align with the company’s core business objectives.</li>



<li>Influence stakeholder perceptions in a way that drives action.</li>



<li>Be measured against clearly defined key performance indicators (KPIs).</li>



<li>Continuously evolve based on real-time data and market shifts.</li>
</ul>



At PR Worx, we do not believe in vanity metrics. Instead of focusing on how many people saw the message, we ask how many decision-makers acted on it? Instead of celebrating media impressions, we measure whether those impressions led to increased sales, improved investor confidence, or strengthened customer loyalty.



The PR-Driven Business Impact Model



To illustrate the direct impact of strategic communications on business outcomes, I often refer to a model we use internally &#8211; what I call the PR-Driven Business Impact Model. This framework ensures that communications efforts are structured, implemented, and measured with precision.



1. Establishing Business-Centric Objectives



Any effective communications strategy must begin with clarity on business goals. Do you want to drive customer acquisition? Attract investors? Secure market leadership? The answer to these questions determines everything from messaging to channel selection.



For example, when PR Worx worked with a multinational company looking to expand its footprint in Africa, the objective was clear: increase market penetration and position the brand as an industry leader in key regions. Instead of relying solely on traditional media, we developed a multi-layered approach combining high-impact PR, executive thought leadership, and strategic stakeholder engagement. By aligning media coverage with investor communications, industry events, and government relations, we not only elevated the brand’s reputation but also contributed to a 26% increase in market share over 12 months. The takeaway? Communications is not just about making noise &#8211; it’s about delivering tangible business outcomes.



2. Data-Driven Targeting: Right Message, Right Audience, Right Time



Gone are the days of mass messaging. Today’s most effective communications strategies leverage data analytics, AI-driven insights, and consumer behavior analysis to craft messages that resonate with the right audience.



For a global technology client, PR Worx used sentiment analysis and social listening tools to pinpoint key market concerns before a major product launch. Instead of generic messaging, we tailored the campaign to directly address those pain points. The result? A 35% increase in engagement rates, a surge in pre-orders, and an overwhelmingly positive reception in media coverage &#8211; demonstrating that data-driven messaging is the key to cutting through market noise.



3. The Power of Integrated Communications



An isolated PR campaign, no matter how well executed, will not deliver sustainable results. True impact comes from an integrated approach that connects earned media, owned content, and digital performance marketing with measurable sales and business outcomes.



For instance, during the launch of a new consumer product, PR Worx ensured that every press release, influencer partnership, and digital ad worked in concert with the sales team’s outreach. The result? A sell-out of the entire product range within six weeks &#8211; driven by strategic storytelling, digital amplification, and direct response marketing.



4. Measuring What Matters: From Media Coverage to Revenue Growth



Communications efforts must be tracked with the same rigor as financial performance. In many organizations, PR and marketing teams still rely on outdated metrics like press clippings and media impressions. But modern business leaders demand more.



The key is to link communication outcomes to financial metrics such as:



<ul class="wp-block-list">
<li>Cost per lead and conversion rates.</li>



<li>Customer acquisition costs.</li>



<li>Share of voice relative to competitors.</li>



<li>Impact on stock price and investor sentiment.</li>



<li>Market expansion and customer lifetime value.</li>
</ul>



At PR Worx, we take a boardroom-centric approach to communications measurement. Our reports go beyond traditional PR metrics, directly correlating campaigns with financial growth and operational efficiency.



5. Real-Time Adaptability: Agility is the Competitive Advantage



A communications strategy cannot be static. In a world where crises emerge overnight and consumer behavior shifts rapidly, agility is a critical business advantage. A strategy must allow for real-time adjustments based on performance data, competitor moves, and emerging market trends.



During a high-stakes reputation management project, we identified an early negative sentiment trend through digital monitoring tools. By proactively adjusting our messaging and engagement tactics, we were able to reverse the narrative before it impacted the client’s stock price, ultimately preserving shareholder confidence and market credibility.



The Competitive Edge: Why CEOs Must Demand ROI from Communications



CEOs and business leaders who still view communications as a “soft” function are leaving money on the table. In the most successful organizations, communications is not just a marketing function, it is a business growth driver.



Companies that treat PR and marketing as a measurable, performance-driven function see:



<ol class="wp-block-list">
<li>Higher brand equity, leading to stronger pricing power.</li>



<li>Increased customer retention and lifetime value.</li>



<li>More investor confidence, influencing stock performance.</li>



<li>Competitive differentiation in crowded markets.</li>
</ol>



The Future of Communications is Performance-Driven



The era of PR as a “nice-to-have” is over. Today, communications strategies must be designed with one overarching goal: business impact. A well-executed, measurable communications strategy does not just enhance a company’s reputation, it directly contributes to revenue growth, market leadership, and shareholder value.



At PR Worx, we believe that communications should be held to the same standards as any other strategic business investment. If it is not driving results, it is simply an expense. But when done right, communications is one of the most powerful tools for sustained business success.



It is time for leaders to stop asking what did we say? and start asking what did we achieve?



Because in today’s world, the brands that communicate with precision, impact, and accountability are the ones that win.



Photographs taken by @Munro_Nel

IMG_0611

Why Your Communications Strategy Must Be Measurable and Impact-Driven

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/107188550-1675411012194-gettyimages-1461906689-vcg111420710254-820x547.jpeg" alt="" class="wp-image-592881" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/107188550-1675411012194-gettyimages-1461906689-vcg111420710254-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/107188550-1675411012194-gettyimages-1461906689-vcg111420710254-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/107188550-1675411012194-gettyimages-1461906689-vcg111420710254-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/107188550-1675411012194-gettyimages-1461906689-vcg111420710254-768x513.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/107188550-1675411012194-gettyimages-1461906689-vcg111420710254-1536x1025.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/107188550-1675411012194-gettyimages-1461906689-vcg111420710254-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Employees work on an electronics production line on Feb. 2, 2023, at a factory in Longyan, Fujian province in China. China News Service | China News Service | Getty Images</figcaption></figure>



China’s factory activity expanded at its fastest pace in three months to 50.8 in February, a private-sector survey showed on Monday, as millions of migrant workers returned to work after an extended Lunar New Year holiday.



The seasonally adjusted Caixin/S&amp;P Global manufacturing purchasing managers’ index beat Reuters poll forecast of 50.3, also accelerating from 50.1 in January and 50.5 last December.



The private-sector manufacturing PMI has stayed above the 50 threshold that separates expansion from contraction since last October.



This private survey reading on Monday followed the official manufacturing PMI released on Saturday, which also showed that China’s February factory activity expanded at its fastest pace since November.



The official PMI rose to 50.2 in February from 49.1 in January, according to the National Bureau of Statistics. The non-manufacturing PMI, which includes services and construction, also climbed to 50.4 from 50.2 in January.



The figures came as economists flagged that fresh U.S. tariffs could pressure the country’s manufacturing activity — which accounted for a quarter of China’s GDP last year — and dent the role of exports as a key driver of growth this year.



In February, new export orders grew at the fastest rate since last April, according to the Monday survey, as “demand strengthened from foreign clients.”



The stronger external demand for Chinese manufactured goods could be due to U.S. importers continuing to front-run tariffs in anticipation of even higher levies, Zichun, Huang, China economist at Capital Economics, said in a note.



U.S. President Donald Trump last week announced to impose additional 10% tariffs on Chinese goods — on top of the 10% he levied on China on Feb. 4. Trump had threated 60% tariffs on China on his campaign trail.



The additional tariffs are scheduled to take effect on March 4, coinciding with a high-profile annual gathering in Beijing where Chinese authorities are expected to unveil economic targets for 2025 and fresh policy support.



While attention is now on potential countermeasures from Beijing, investors also await more government details on a broad stimulus plan to prop up the slowing economy, including ramped-up fiscal spending to boost domestic demand and fend off persistent disinflationary pressures.



<h2 class="wp-block-heading" id="h-patchy-recovery"><a></a>Patchy recovery</h2>



At the upcoming parliamentary meetings, China’s leadership is expected to acknowledge a significant softening in domestic demand while revealing highly anticipated details on fiscal stimulus aimed at shoring up growth in the face of heightened U.S. trade tensions.



While a combination of fiscal support and “tariff front-running” helped China’s economy regain some momentum in February, the overall growth in this quarter is likely to slow, Capital Economics’ Huang said.



“Unless the leadership unveil greater-than-expected stimulus at the National People’s Congress, it is hard to see how a slowdown can be avoided this year,” Huang said.



Plagued by lackluster domestic consumption, output prices at factories have remained under pressure, particularly consumer and investment goods that experienced sharper price declines, according to the Monday survey.



Squeezing that profit margin further, costs for copper and certain chemical products have edged higher, the survey showed.



Employment in the manufacturing sector also slumped to a near five-year low, as manufacturers continued to prioritize cost reductions, particularly among consumer goods producers.

107188550-1675411012194-gettyimages-1461906689-vcg111420710254

China’s factory activity growth hits 3-month high in February, as millions return to work after holidays

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1005" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/R7KOKS6OPVNFRBSZJWNK7V3DZ4.avif" alt="" class="wp-image-592848"/><figcaption class="wp-element-caption">An aerial view of South Africa&#8217;s Koeberg Nuclear Power Station, in Cape Town, South Africa, December 5, 2022. REUTERS/Esa Alexander/File photo </figcaption></figure>



March 2 (Reuters)&nbsp;&#8211;&nbsp;South African power utility Eskom said on Sunday that a unit at its Koeberg nuclear power plant was shut down after experiencing an unplanned, non-technical trip while operating at full capacity.



Eskom said that Koeberg Unit 2 inadvertently tripped during work on Unit 1, which is currently offline. The second unit was switched off in accordance with protocol, Eskom said, adding that start-up process for the tripped unit was in the works.



Unit 2 is expected to be reconnected to the national grid within 48 hours, state power utility Eskom said.



Koeberg power station, north of Cape Town, is currently the only commercial nuclear power plant in Africa and its two units contribute around 1,860 megawatts or 5% of national power supply.



(Reporting by Gursimran Kaur in Bengaluru; Editing by Ros Russell)

R7KOKS6OPVNFRBSZJWNK7V3DZ4

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QB6JRHKB7ZP6ZHQH64RWM3XN7A-820x547.jpg" alt="" class="wp-image-562084" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QB6JRHKB7ZP6ZHQH64RWM3XN7A-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QB6JRHKB7ZP6ZHQH64RWM3XN7A-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QB6JRHKB7ZP6ZHQH64RWM3XN7A-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QB6JRHKB7ZP6ZHQH64RWM3XN7A-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QB6JRHKB7ZP6ZHQH64RWM3XN7A-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QB6JRHKB7ZP6ZHQH64RWM3XN7A-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">U.S. President Joe Biden stands with Angolan Minister of Transport Ricardo Daniel Sandao Queiros Viegas de Abreu, during a visit to the Lobito Port Terminal to receive a briefing on the Lobito Atlantic Railway, in Lobito, Angola, December 4, 2024. REUTERS/Elizabeth Frantz</figcaption></figure>



Joe Biden’s early-December trip to Angola—his first to Sub-Saharan Africa as US president, and likely his last overseas trip in the role—underscored the stickiness of the colonial development paradigm of resource extraction that has long debilitated Africa. The major highlight of Biden’s visit related to a transnational railway initiative, which is considered by some to be the quickest and most efficient way to export raw materials and critical minerals from the Central African ‘Copperbelt’ via the Angolan port city of Lobito.



While indicative of a new era of US engagement with Africa, the Lobito Corridor project nonetheless perpetuates a highly volatile development model that focuses unduly on resource extraction and commodity dependence. Africa is the most commodity-dependent region in the world, with a median value of commodity exports of 90% of all merchandise exports, according to UNCTAD data. Such a high degree of dependency has stymied African economic development for decades, and risks undermining regional economies’ integration into emerging green global supply chains. The economic and social costs could be colossal, ranging from exporting resource rents and rising unemployment to mounting migration pressures, the latter already being exacerbated by climate crises.



Mine-related transport infrastructure that typically connects mines directly to ports—a pattern most prevalent in Sub-Saharan Africa—has been one of the most important physical representations and lasting legacies of colonialism. During the colonial era, transport and infrastructure networks in Africa were not designed to foster endogenous growth or support commodity-based industrialization. Instead, their principal objective was to maximize the extraction and transfer of natural resources and raw materials used in manufacturing processes across various industries to Europe.



Commodity-abundant nations in the Global South were reduced to resource stockpiles in the context of global economic integration, entrenching the divide between developed and developing countries. By holding the monopoly on technology and dominating the production and export of higher-value commodities, European powers widened the income gap with emerging economies in the Global South, locking the latter into a perpetual cycle of intergenerational poverty and aid dependency. Balance of payments crises became commonplace in the Global South, with the deterioration of commodity terms of trade sustaining structural current account deficits in the exclusive bilateral trade relationships between each imperial power and its respective former colonies.



Despite the multiplicity of actors both within the African continent and destination countries in the developed world, the Lobito Corridor project exemplifies these historical patterns. The 800-mile railway will connect Zambia’s Copperbelt as well as the copper, lithium, and cobalt mines of the Democratic Republic of Congo to the Angolan port city Lobito. Backed by the US and European Union (EU), the project will expedite the transportation of essential minerals—including many green minerals critical to the manufacture of electronics and electric vehicle (EV) batteries—significantly reducing transit times from 45 days by road to just 45 hours. For the EU and US, improved access to these critical minerals allows them to diversify and make their supply chains more resilient as geopolitical tensions and great power rivalries deepen and increase the weaponization of commodities.



Biden’s trip was eminently geopolitically motivated, with two key related objectives in a world set on an irreversible energy transition as the combustion engine-led growth model enters its waning years. First, securing access to minerals vital to the green transition and, second, countering China’s growing influence across Africa. China has become a significant economic player in the region, particularly in the natural resource sector and in infrastructure development. For decades, China’s engagement with Africa has prioritized infrastructure projects and investment in the region’s transportation networks, often financed by natural resource-backed loans.



China’s growing influence in Africa is also visible in the trade arena, in which it overtook the US as Africa’s largest trading partner in 2009. China has consolidated that pole position in the years since, while US imports from Africa collapsed following the country’s shale oil revolution and bid for energy independence. Angola, one of the most natural resource-dependent countries in the world—the oil sector accounts for more than 90% of Angolan exports and 70% of government revenues—was particularly affected by US’s shale revolution. Between 2012-23, Angola’s exports to the US fell by more than 88% to around US$1.2 billion, and the country’s direction of trade shifted towards Asia, with China becoming the top destination for Angolan crude oil.



However, though Africa may now be trading with different parties, the nature of the region’s trade patterns has not changed. Under the sticky colonial development paradigm of resource extraction, primary commodities and natural resources continue to dominate Africa’s exports, including around 60% of Sub-Saharan African exports to China. The region’s increasing reliance on China for manufactured goods has led to increasingly large trade deficits—the most recent estimates put Africa’s trade deficits with China at US$45.9 billion in 2022 and US$63 billion in 2023, a record high.



When challenged on the persistence and scale of trade imbalances between China and Africa, Chinese Vice Commerce Minister Qian Keming responded, “Africa must have things to sell [for China to buy].” This candid assessment again underlines the consequences of the costly development paradigm of resource extraction.



But the obstacles to growing African exports—particularly today, when trade is driven largely by intermediate and manufactured goods with increasing technological content—have a long history and have colored Africa’s engagement with both China and the US. Over the years, these hurdles have also skewed the distribution of African trade towards extra-African trade—intraregional trade has remained very low at around 15% of total African trade, compared to 60% in Asia and 70% in Europe.



Despite trade preference programs such as the African Growth and Opportunity Act (AGOA) along with benefits extended under the Generalized System of Preferences program, Africa’s trade with the US remains marginal, accounting for less than 1% of total US trade in 2023. In comparison, consider Vietnam, which accounted for more than 2.5% of total US trade last year. Vietnam’s exports to the US exceeded US$119 billion in 2023, dwarfing the US$29 billion of total exports from the 50 combined Sub-Saharan African nations.



Beyond boosting exports and sustaining high economic growth, Vietnam’s integration into high-value global supply chains has significantly raised per capita incomes and lifted millions out of poverty. It is not a natural resource-rich country, but has successfully leveraged the increasing foreign value-added content of exports to diversify its sources of growth and trade, including the production of critical electronics and other high-demand goods in the technology sector. For instance, 40% of the components in Samsung’s phones are made in Vietnam, while none are made in Africa where countries have remained confined to the bottom of global value chains as feedstocks that provide the raw materials used to produce them.



The colonial development model of resource extraction has been very costly in terms of growth, macroeconomic stability, and welfare. The ongoing net-zero transition provides the opportunity to transcend that model to promote the rise of downstream industries and boost domestic value addition from natural resources. This would enhance Africa’s integration into emerging green global supply chains, including those connected with the EV industry. More than catalyzing the injection of patient capital and technology transfer, that transition will mitigate the substantial foreign exchange reserve leakages and deadweight losses that underpin Africa’s balance of payments pressures. It would also accelerate the diversification of sources of growth to boost African trade and expand employment opportunities, stemming migration pressures in a region where abject poverty and destitution has compelled young people to relocate overseas.



Globally, transitioning to localized value chains in Africa aligns with environmental and economic priorities. That transition will accelerate the diversification of global supply chains for greater resilience and, in the process, address the persistent global macroeconomic imbalances that have become the source of trade frictions between nations. Furthermore, it will enhance the net-zero transition by reducing the shipping industry’s carbon footprint, exacerbated over the years by the highly polluting round-tripping model under which Africa’s raw materials are first exported and then imported as manufactured goods at higher prices. Demographic trends are such that this model is no longer sustainable and will only intensify carbon emissions and external imbalances.In the climate change era, boosting domestic value added from natural resources within Africa is not just good economics, but also environmentally sound.



The world has an interest in increasing downstream processing in Africa to maximize the value of and development impact of commodities and minimize the negative externalities of growth. This historical shift will ensure that African countries have things to sell to the rest of the world and to each other, boosting long-languishing intra-African trade and compounding the benefits of the African Continental Free Trade Area (AfCFTA). The returns on the Lobito Corridor investment project will be even higher if the transnational rail line is the locomotive that sustainably bolsters the export of both primary and higher-value commodities. &nbsp;



For the region to truly benefit from the project, policymakers and investors must look beyond short-term resource extraction and prioritize long-term, sustainable economic development. Only then can Africa move beyond its colonial legacy and become a competitive contributor to global value chains.

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