Why Israel’s war against Hamas is costing its economy

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="548" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/ZILEI7OOWJMNBPRS4CLCVLYX3I-820x548.jpg" alt="" class="wp-image-523903" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/ZILEI7OOWJMNBPRS4CLCVLYX3I-820x548.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/ZILEI7OOWJMNBPRS4CLCVLYX3I-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/ZILEI7OOWJMNBPRS4CLCVLYX3I-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/ZILEI7OOWJMNBPRS4CLCVLYX3I-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/ZILEI7OOWJMNBPRS4CLCVLYX3I-1536x1027.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/ZILEI7OOWJMNBPRS4CLCVLYX3I-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A test tube labelled &#8220;Mpox virus positive&#8221; is held in this illustration taken August 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo</figcaption></figure>



LONDON/CHICAGO, Aug 27 (Reuters)&nbsp;&#8211;&nbsp;Scientists studying the new mpox strain that has spread out of Democratic Republic of Congo say the virus is changing faster than expected, and often in areas where experts lack the funding and equipment to properly track it.



That means there are&nbsp;numerous&nbsp;unknowns about the virus itself, its severity and how it is transmitting, complicating the response, half a dozen scientists in Africa, Europe and the United States told Reuters.



Mpox, formerly known as monkeypox, has been a public health problem in parts of Africa since 1970, but received little global attention until it surged internationally in 2022, prompting the World Health Organization to declare a global health emergency. That declaration ended 10 months later.



A new strain of the virus, known as clade Ib, has the world&#8217;s attention again after the WHO declared a new health emergency.



The strain is a mutated version of clade I, a form of mpox spread by contact with infected animals that has been endemic in Congo for decades. Mpox typically causes flu-like symptoms and pus-filled lesions and can kill.



Congo has had more than 18,000 suspected clade I and clade Ib mpox cases and 615 deaths this year, according to the WHO. There have also been 222 confirmed clade Ib cases in four African countries in the last month, plus a case each in Sweden and Thailand in people with a travel history in Africa.



&#8220;I worry that in Africa, we are working blindly,&#8221;&nbsp;said Dr. Dimie Ogoina, an infectious diseases expert at Niger Delta University Hospital in Nigeria who chairs the&nbsp;WHO&#8217;s&nbsp;mpox emergency committee. He first raised the alarm about potential sexual transmission of mpox in 2017, now an accepted route of spread for the virus.



&#8220;We don’t understand our outbreak very well, and if we&nbsp;don&#8217;t&nbsp;understand our outbreak very well we will have difficulty addressing the problem in terms of transmission dynamics, the severity of the disease, risk factors of the disease,&#8221;&nbsp;Ogoina said. &#8220;And I worry about the fact that the virus seems to be mutating and producing new strains.&#8221;



He said it took clade IIb in Nigeria five years or more to evolve enough for sustained spread among humans, sparking the 2022 global outbreak. Clade Ib has done the same thing in less than a year.



<h2 class="wp-block-heading" id="h-mutating-more-rapidly">MUTATING &#8216;MORE RAPIDLY&#8217;</h2>



Mpox is an orthopoxvirus, from the family that causes smallpox. Population-wide protection from a global smallpox vaccine campaign 50 years ago has waned, as the vaccinating stopped when the disease was eradicated.



Genetic sequencing of clade Ib infections, which the WHO estimates emerged mid-September 2023, show they carry a mutation known as APOBEC3, a signature of adaptation in humans.



The virus that causes mpox has typically been fairly stable and slow to mutate, but APOBEC-driven mutations can accelerate viral evolution, said Dr. Miguel Paredes, who is studying the evolution of mpox and other viruses at Fred Hutchison Cancer Center in Seattle.



&#8220;All the human-to-human cases of mpox have this APOBEC signature of mutations, which means that it&#8217;s mutating a little bit more rapidly than we would expect,&#8221; he said.



Paredes and other scientists said a response was complicated by several mpox outbreaks happening at once.



In the past, mpox was predominantly acquired through human contact with infected animals. That is still driving a rise in Congo in clade I cases – also known as clade Ia &#8211; likely due in part to deforestation and increased consumption of bushmeat, scientists said.



The mutated versions, clade Ib and IIb, can now essentially be considered a sexually transmitted disease, said Dr. Salim Abdool Karim, a South African epidemiologist and chair of the Africa CDC’s mpox advisory committee. Most of the mutated clade Ib cases are among adults, driven at first by an epidemic among female sex workers in South Kivu, Congo.



The virus also can spread through close contact with an infected person, which is likely how clusters of children have been infected with clade Ib, particularly in Burundi and in eastern Congo’s displacement camps, where crowded living conditions may be contributing.



Children, pregnant women and people with weakened immune systems&nbsp;or other illnesses may&nbsp;be at greater risk of serious mpox disease and death,&nbsp;say&nbsp;the WHO&nbsp;and mpox scientists.



Clade I has typically caused more severe disease, with fatality rates of 4%-11%, compared to around 1% for clade II. Ogoina said data from Congo suggests few have died of the new Ib version, but he feared some data is being mixed up.



More research is urgently needed, but three teams tracking mpox outbreaks in Africa say they cannot even access chemicals needed for diagnostic tests.&nbsp;Clade Ib can also be missed by some diagnostic tests.



Planning a response, including vaccination strategies, without this is difficult, the scientists said.



Karim said around half of cases in eastern Congo, where Ib is particularly prevalent, are only being diagnosed by doctors, with no laboratory confirmation.



Getting samples to labs is difficult because the healthcare system is already under pressure, he said. And around 750,000 people have been displaced amid fighting between the M23 rebel group and the government.



Many African laboratories cannot get the supplies they need, said Dr. Emmanuel Nakoune, an mpox expert at the Institut Pasteur in Bangui, Central African Republic, which also has clade Ia cases.



&#8220;This is not a luxury,&#8221;&nbsp;he said, but necessary to track deadly outbreaks.



(Reporting by Jennifer Rigby in London, Julie Steenhuysen in Chicago and Catherine Schenck in Johannesburg; Editing by Caroline Humer, Bill Berkrot and Gareth Jones)

FILE PHOTO: Illustration shows test tubes with “Mpox virus positive” label

New mpox strain is changing fast; African scientists are ‘working blind’ to respond

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="582" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/AXOWH46XAVPZDK2BMVHVSJZS4Y-820x582.jpg" alt="" class="wp-image-523900" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/AXOWH46XAVPZDK2BMVHVSJZS4Y-820x582.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/AXOWH46XAVPZDK2BMVHVSJZS4Y-300x213.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/AXOWH46XAVPZDK2BMVHVSJZS4Y-127x90.jpg 127w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/AXOWH46XAVPZDK2BMVHVSJZS4Y-768x545.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/AXOWH46XAVPZDK2BMVHVSJZS4Y-1536x1090.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/AXOWH46XAVPZDK2BMVHVSJZS4Y-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Power lines supplying electricity by stated owned Eskom run through sugar cane fields on a Tongaat Hulett farm in Shongweni, South Africa April 29, 2018. REUTERS/Rogan Ward/File Photo</figcaption></figure>



CAPE TOWN, Aug 27 (Reuters)&nbsp;&#8211;&nbsp;South African private power producers are seeking compensation for revenues lost when adhering to requests from state utility Eskom to limit electricity supply to the national grid, industry executives said.



Eskom has submitted a proposal to the country&#8217;s energy regulator to introduce a mechanism to compensate independent power producers (IPPs) for lost revenue resulting from curtailment rates of up to 10%.



The curtailment requests are due to a shortage of pylons and high voltage power lines that have caused choke points in Eskom&#8217;s transmission system.



The compensation mechanism is one of several proposed regulatory reforms as efforts to open up Africa&#8217;s largest electricity market gather pace.



&#8220;We are hoping that there will be adequate compensation for generation that is curtailed,&#8221; Ian Burger, a technical director at private power developer SOLA Group, told Reuters.



Burger said SOLA Group&#8217;s two Lichtenburg solar PV plants, which each produce just over 100 megawatts (MW), were requested in April and May by Eskom to cut output by up to 80% and produce only 20 MW per day.



SOLA Group supplies power to miner Tronox.



Eskom studies indicate that the costs of curtailing renewable energy are significantly lower than the billions of dollars required for upgrading the network to connect the same amount of renewable power to the grid.



By reducing generation from independent producers, Eskom hopes to immediately free up an estimated 3,470 MW of additional capacity on the constrained grid.



In July, energy regulator Nersa released a draft curtailment congestion policy based on Eskom&#8217;s application seeking approval to classify it as a &#8220;constrained ancillary generation service&#8221;.



This would enable Eskom to use specific formulae to reimburse renewable energy plants for the power curtailed because of grid congestion.



&#8220;The devil still is in the detail, but this raises the possibility of further minimising the cost borne by consumers by curtailing those IPPs with the lowest tariffs first, as opposed to everyone equally,&#8221; said Kilian Hagemann, CEO of G7 Renewable Energies.



Over the past five months, Eskom has provided continuous electricity, a feat last achieved in 2020, reducing its reliance on renewable energy to bolster the grid.



Eskom expects congestion curtailment to be implemented routinely from 2026 onwards, with curtailment levels increasing as more renewable projects come online.



(Reporting by Wendell Roelf; Editing by Olivia Kumwenda-Mtambo and Mark Potter)

FILE PHOTO: Power lines supplying electricity by stated owned Eskom run through sugar cane fields on a Tongaat Hulett farm in Shongweni

South African private power producers seek fair deal over output curbs

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1258656549-820x547.jpg" alt="" class="wp-image-523855" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1258656549-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1258656549-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1258656549-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1258656549-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1258656549-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1258656549-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Wamkele Mene, secretary-general of African Continental Free Trade Area (AfCFTA), during a Bloomberg Television interview at the Bloomberg New Economy Gateway Africa event in Marrakesh, Morocco, on Tuesday, June 13, 2023. The event brings together leaders in the private and public sectors to discuss the world&#8217;s most pressing issues and evaluate potential solutions in the context of local and regional priorities. Photographer: Hollie Adams/Bloomberg via Getty Images</figcaption></figure>



The Secretary General of the African Continental Free Trade Area (AfCFTA) says he is disappointed that South Africa, Africa’s largest economy, has not ratified a payment system intended to cut trade costs and accelerate the economic integration of the continent.



The Pan-African Payment and Settlement System (PAPSS), established in partnership with the African Union, enables companies to transact in any of Africa’s 42 currencies without the need for a third party currency like the U.S. dollar, saving as much as $5 billion annually. Some 115 commercial banks and 15 central banks have joined the system.



&#8220;I regret that South Africa has not yet adopted the Pan-African Payment and Settlement System because I think it is a political economy question,’’ AfCFTA Secretary General Wamkele Mene told CNBC Africa. &#8220;I must confess, I am surprised that not more countries have joined PAPSS.”



While the question was best answered by the South African Reserve Bank, Mene said the country stood the most to benefit from lowering costs and increasing intra-Africa trade as it had more than 80 percent of manufactured goods trade in Africa.



The Africa Export-Import Bank estimates more than 80 percent of intra-African payments currently go through either Europe or the United States, a legacy of the continent’s colonial history and political and economic dominance of the West over the continent. PAPSS will reduce this reliance while giving Africa autonomy over its trade relations with the rest of the world, Mene said.



&#8220;If you look at the cost of a transaction, a trade transaction across regions of the continent, if your goods cost you $500, we charge you $2 to transact on PAPSS. If you use SWIFT, you will pay $60, $70. And it is instantaneous. It is a digital platform, instantaneous. So I think that it is in Africa&#8217;s advantage,’’ he said.



The Africa Union launched the Africa Continental Free Trade Agreement in January 2021, the youngest and largest trading bloc in the world seeking to create a common market with a combined gross domestic product of $3.4 trillion that’s projected to grow to $16.5 trillion by 2035, according to the Washington-based World Bank. It’s been ratified by 48 of Africa’s 54 territories. Eritrea is expected to join soon, Mene added.



&#8220;I think we have to make that mental shift of not only believing in ourselves as Africans, but also believing in the institutions and the mechanisms that we have introduced,’’ said Mene.



Key participants in PAPSS include central banks, which act as regulators and clearance agents, commercial banks, fintechs, payment service providers and their customers who are made up of the businesses operating across the continent.



Afreximbank says it expects the majority of Africa’s central banks to have joined PAPSS by next year, a key step in its drive to increase intra-African trade to more than 20 percent, the lowest amongst the world’s trading blocs. Intra-European trade sits 68 percent with Asia at 59 percent while Northern America is at 30.6%, according to the UN Trade and Development.



&#8220;This question is not just about addressing the trade deficit in Africa, it is also about the sovereignty of the continent of Africa, the payment sovereignty of the African continent,’’ Mene said. &#8220;If today you upset somebody in Washington, in London, you will be kicked out of SWIFT and you will not be able to transact with the rest of the world. So it is not just about the issue of easing payments, it is also about the political sovereignty. It is a political economy question.’’

Key Speakers at New Economy Gateway Africa Event

AfCFTA Secretary General Laments S. Africa’s Absence from Flagship African payments system

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="615" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-820x615.jpg" alt="" class="wp-image-523852" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-820x615.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-120x90.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-768x576.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-1536x1152.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The new logo of the privatised Nigeria oil company is seen at the NNPC Mega Gas Station in Abuja, Nigeria August 30, 2022. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



LAGOS, Aug 27 (Reuters)&nbsp;&#8211;&nbsp;State-owned Nigerian oil company NNPC has expanded shipments of liquefied natural gas (LNG) cargoes to a port in China after its first delivery to Japan in June, it said on Monday.



Nigeria, Africa&#8217;s biggest oil producer, holds the continent&#8217;s largest gas reserves at more than 200 trillion cubic feet and has often shipped most of its LNG through Nigeria LNG, in which the NNPC has a 49% stake.



NNPC Ltd said it has been involved in LNG trading since 2021 with its first LNG cargo sale in November of that year. It said it has since traded over 20 cargoes into the European and Asian markets on Free On Board basis, where the buyer assumes risks once the seller ships the product.



But now the company says it will ship directly to ports in the countries ordering the cargoes bearing shipping and insurance costs, known as Delivered Ex-Ship (DES) in the industry, which it says is more profitable.



&#8220;The DES system, apart from being more financially rewarding, allows NNPC Ltd inroads into the downstream segment of the LNG sector and positions it to capture more market share, while building in-house capacity and ensuring that global customers are familiar with the NNPC Ltd brand,&#8221; said Dapo Segun, executive president of NNPC Downstream.



Since last year, the NNPC has been expanding its footprint in the LNG market, signing an agreement to build a new floating LNG plant in Nigeria that will boosts exports to Europe.



The NNPC said it achieved the feat in collaboration with its shipping subsidiary and they are scheduled to deliver at least two more LNG cargoes to ports in Asia by November.



(Reporting by Isaac Anyaogu; editing by David Evans)

XTUYFFOIU5I5JMOASXHMTVFSTI

Nigeria’s NNPC sending LNG cargoes to Japan and China

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg" alt="" class="wp-image-519304" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Aug 27 (Reuters) &#8211; The Kenyan shilling was steady on Tuesday, with foreign exchange inflows from the diaspora matching muted demand from fuel importers and manufacturers, traders said.



At 0822 GMT, LSEG data showed the shilling at 128.25/129.25 to the U.S. dollar, the same level it closed on Monday.



(Reporting by Hereward Holland; Editing by Alexander Winning)

LYEEWJTJKRPK3GJPCKWFP3EK7E

Kenyan shilling steady as diaspora FX inflows match demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-1-820x462.jpeg" alt="" class="wp-image-523819" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-1-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-1-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-1-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-1-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-1.jpeg 929w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The lights of Frankfurt am Main’s banking skyline glow in the last light of day. Boris Roessler | Picture Alliance | Getty Images</figcaption></figure>



LONDON — European markets were higher on Tuesday as investors assessed geopolitical risks and U.K. markets reopened after being closed on Monday for a national bank holiday.



The pan-European Stoxx 600 was 0.21% higher at 8:49 a.m. London time, with all major regional indexes trading in the green. Sectors were mixed, with mining stocks adding 1.08%, while retail stocks shed 0.34% and tech dipped 0.18%.



European markets had posted a mixed session on Monday.



Investors continued to weigh geopolitical risks after Israel and Hezbollah traded strikes over the weekend, raising fears about a wider conflict in the Middle East.



The uncertainty sent oil prices higher on Monday. On Tuesday prices eased slightly, with Brent crude&nbsp;futures dipping by 0.15% to $81.31 a barrel and U.S. West Texas Intermediate crude declining by 0.31% to $77.18 a barrel at 8:51 a.m. London time.



On the data front in Europe, Germany’s statistics office on Tuesday released a final reading of the country’s second-quarter gross domestic product, saying that it fell by 0.1% from the previous quarter. That was in line with the preliminary second-quarter GDP reading that was released in July.



Elsewhere, Hungary’s central bank is set to announce its interest rate decision.



Elsewhere, Asia-Pacific markets broadly pulled back on Tuesday as investors weighed industrial profit data out of China and widely followed key Wall Street indexes lower.



The S&amp;P 500 and Nasdaq Composite had retreated on Monday in the U.S. as technology stocks slid, while the Dow Jones Industrial Average notched a fresh record high. U.S. futures were last mixed early on Tuesday.

108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751 (1)

Europe markets rise as investors weigh economic, geopolitical outlook; UK markets reopen

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Aug 27 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was little changed in early trading on Tuesday, ahead of several local data releases later this week.



At 0737 GMT, the rand traded at 17.7650 against the dollar, near its Monday closing level of 17.7575.



South African investors will focus on July&#8217;s producer inflation data on Thursday and money supply, budget and trade balance data on Friday, which could give clues on the health of Africa&#8217;s most industrialised economy.



Like other risk-sensitive currencies, the rand could also take direction from global drivers.



&#8220;The dollar-rand has encountered tough support around the 17.7000 mark&#8230; It is as if the currency pair is waiting for a catalyst that will open the door for another leg of rand appreciation,&#8221; said ETM Analytics in a research note.



&#8220;In the short term, it is unclear what that might be.&#8221;



On the Johannesburg Stock Exchange, the blue-chip Top-40 index was about 0.2% up in early trade.



South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, as the yield climbed 3 basis points to 9.115%.



(Reporting by Tannur Anders; Editing by Bernadette Baum)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand stable ahead of data-filled second half of week

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-501467" style="width:764px;height:auto" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Aug 27 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Tuesday.



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



South Africa&#8217;s government will hold its weekly auction of long-term bonds.



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand was stable on Monday, ahead of local economic data releases this week that could give hints on the health of the local economy.



On the stock market, the Top-40 index closed down 0.33%.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian stocks fell on Tuesday as investors pondered looming U.S. interest rate cuts and awaited earnings from AI darling Nvidia, while rising tensions in the Middle East and supply concerns checked risk sentiment and lifted oil prices.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



The S&amp;P 500 finished lower on Monday, with AI heavyweight Nvidia dipping ahead of its quarterly report this week, while investors awaited inflation data for clues about the path of interest-rate cuts by the Federal Reserve.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold prices edged lower on Tuesday following a slight recovery in the dollar, although losses were capped by investor optimism for imminent U.S. rate cuts and lingering concerns about the Middle East crisis. 



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; MTN closes in on goal of 135,000km fibre in Africa



&#8211; Cyril Ramaphosa moves public enterprises portfolio to line departments



(Compiled by Tannur Anders)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Aug 27

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, Aug 27 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian stocks fell on Tuesday as investors pondered looming U.S. interest rate cuts and awaited earnings from AI darling Nvidia, while rising tensions in the Middle East and supply concerns checked risk sentiment and lifted oil prices.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices paused their recent advances, receding in Asian trading on Tuesday after surging more than 7% in the previous three sessions on supply concerns prompted by fears of a wider Middle East conflict and the shutdown of Libyan oil fields.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand was stable on Monday, ahead of local economic data releases this week that could give hints on the health of the local economy.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was stable on Monday, with traders saying market activity was muted despite S&amp;P Global downgrading the country&#8217;s sovereign credit rating late on Friday.



<h2 class="wp-block-heading" id="h-nigeria-economy">NIGERIA ECONOMY</h2>



Nigeria&#8217;s economy grew 3.19% in the second quarter of 2024 compared with the same quarter last year, lifted by higher crude oil production and the performance of its services sector, statistics agency data showed on Monday.



<h2 class="wp-block-heading" id="h-sudan-floods">SUDAN FLOODS</h2>



Surging waters have burst through a dam, wiped out at least 20 villages and left at least 30 people dead but probably many more in eastern Sudan, the United Nations said on Monday, devastating a region already reeling from months of civil war.



<h2 class="wp-block-heading" id="h-west-africa-migration">WEST AFRICA MIGRATION</h2>



Spain&#8217;s Prime Minister Pedro Sanchez starts his second visit this year to West Africa on Tuesday, aiming to curb migration to the Canary Islands and to counter the Russian presence in the Sahel region.



<h2 class="wp-block-heading" id="h-health-mpox">HEALTH MPOX</h2>



Democratic Republic of Congo no longer expects to receive its first delivery of mpox vaccines this week, the head of its response team said on Monday, as Congo battles a new variant of the virus that has spread beyond its borders.



<h2 class="wp-block-heading" id="h-ghana-election">GHANA ELECTION</h2>



The two main contenders in Ghana&#8217;s presidential election have launched duelling manifestos promising fiscal stability, jobs and a path out of the country&#8217;s worst economic downturn in a generation.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Aug 27

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIQGVFK7CNODDPPNJJFUT2T2AM-820x547.jpg" alt="" class="wp-image-523796" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIQGVFK7CNODDPPNJJFUT2T2AM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIQGVFK7CNODDPPNJJFUT2T2AM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIQGVFK7CNODDPPNJJFUT2T2AM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIQGVFK7CNODDPPNJJFUT2T2AM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIQGVFK7CNODDPPNJJFUT2T2AM-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIQGVFK7CNODDPPNJJFUT2T2AM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Nigeria&#8217;s President Bola Tinubu speaks after his swearing-in ceremony in Abuja, Nigeria May 29, 2023. REUTERS/Temilade Adelaja</figcaption></figure>



ABUJA, (Reuters) &#8211; Nigerian President Bola Tinubu named new homeland security and foreign intelligence chiefs on Monday, a week after their predecessors resigned abruptly, as Africa&#8217;s most populous nation fights a northeastern insurgency and rampant kidnappings.



Mohammed Mohammed, who&nbsp;headed&nbsp;Nigeria&#8217;s mission to Libya, will lead the National Intelligence Agency. Adeola Ajayi will helm the Department of State Security.



The previous agency chiefs, appointed by ex-President Muhammadu Buhari in 2018, gave no reason for their resignations.



They could have taken the fall for the country&#8217;s poor security performance, or have been purged along with government personnel from the north to replace with Tinubu&#8217;s own&nbsp;Yoruba&nbsp;ethnic stock, said Confidence MacHarry, lead security analyst at consultancy SBM Intelligence.



Following incessant attacks by armed groups, Tinubu is boosting intelligence gathering&nbsp;to deal with nationwide kidnappings for ransom by armed gangs and a more than decade-old insurgency in the northeast.



(Reporting by Ope Adetayo and Felix Onuah; Editing by Chijioke Ohuocha and Richard Chang)

Nigeria’s President Bola Tinubu speaks after his swearing-in ceremony in Abuja

Nigeria’s president appoints new security and intelligence chiefs

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="929" height="523" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107387754-1710442603582-Fort-Knox-Gold-Pour.jpg" alt="" class="wp-image-488636" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107387754-1710442603582-Fort-Knox-Gold-Pour.jpg 929w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107387754-1710442603582-Fort-Knox-Gold-Pour-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107387754-1710442603582-Fort-Knox-Gold-Pour-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107387754-1710442603582-Fort-Knox-Gold-Pour-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107387754-1710442603582-Fort-Knox-Gold-Pour-768x432.jpg 768w" sizes="auto, (max-width: 929px) 100vw, 929px" /><figcaption class="wp-element-caption">The Fort Knox Alaska operations of mining company Kinross, which has a new gold mine in Tetlin, Alaska, that has led to lawmaker concerns about trucking’s impact.
Courtesy: Kinross</figcaption></figure>



Aug 26 (Reuters)&nbsp;&#8211;&nbsp;Harmony Gold&nbsp;HARJ.J, South Africa&#8217;s biggest gold producer by volume, said on Monday its profit probably doubled in the year ended June 30, buoyed by a rise in output of the precious metal, better grades and a price rally.



The Johannesburg-based miner reported preliminary headline earnings per share of $0.98 for the financial year, up from $0.45 per share a year earlier. It is due to release its final full-year results on Sept. 5.



Harmony is among South Africa&#8217;s few remaining gold miners squeezing profits from some of the world&#8217;s oldest and deepest gold mines. It said gold output is expected to have risen 6% to 1.56 million ounces in the year through June 30, surpassing an earlier target of 1.55 million ounces.



Still, Harmony&#8217;s profit was weighed down by a 2.8 billion rand ($157.51 million) writeoff of its Target North project in South Africa after recent studies showed its mineral reserves are less than previous assumptions.



The Target North project may no longer be viable, Harmony CEO Peter Steenkamp said, adding that additional studies are still ongoing.



Further investment in the project located in South Africa&#8217;s Free State province would be weighed against Harmony&#8217;s Eva Mine copper project in Australia and the Wafi-Golpu gold-copper project in Papua New Guinea, which it seeks to jointly develop with partner Newmont.



Harmony is among South African gold producers that have shifted focus to elsewhere in Africa, Australia and the Americas and to other metals as digging for gold in some of the world&#8217;s deepest mines becomes more costly and dangerous.



The Australian and PNG copper projects are part of Harmony&#8217;s pivot towards copper which is in demand for use in the production of electric vehicles and renewable energy systems, pushing its price to record highs this year.



($1 = 17.7326 rand)



(Reporting by Nelson Banya; editing by David Evans and Susan Fenton)

107387754-1710442603582-Fort-Knox-Gold-Pour

South Africa’s top gold miner sees profit surge as prices rally

How Wingstop Became One Of The Hottest Restaurant Stocks

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V4N2FQ4N2VNUJMZZF6YENPZG2E-820x547.jpg" alt="" class="wp-image-523532" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V4N2FQ4N2VNUJMZZF6YENPZG2E-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V4N2FQ4N2VNUJMZZF6YENPZG2E-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V4N2FQ4N2VNUJMZZF6YENPZG2E-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V4N2FQ4N2VNUJMZZF6YENPZG2E-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V4N2FQ4N2VNUJMZZF6YENPZG2E-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V4N2FQ4N2VNUJMZZF6YENPZG2E-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view of the central business district is seen from a roof-top in Lagos, Nigeria February 10, 2016. REUTERS/Akintunde Akinleye/File Photo</figcaption></figure>



ABUJA, Aug 26 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s economy grew 3.19% year on year in the second quarter of 2024, statistics agency data showed on Monday.



The growth rate was quicker than the 2.51% growth recorded in the second quarter of 2023 and the 2.98% growth seen in the first quarter of this year.



(Reporting by Chijioke Ohuocha; Editing by Alexander Winning)

A view of the central business district is seen from a roof-top in Lagos

Nigeria’s GDP growth rises to 3.19% year on year in Q2

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UY34M72OC5KA3B3SYJZXMG6BME-820x547.jpg" alt="" class="wp-image-523529" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UY34M72OC5KA3B3SYJZXMG6BME-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UY34M72OC5KA3B3SYJZXMG6BME-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UY34M72OC5KA3B3SYJZXMG6BME-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UY34M72OC5KA3B3SYJZXMG6BME-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UY34M72OC5KA3B3SYJZXMG6BME-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UY34M72OC5KA3B3SYJZXMG6BME-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Spain&#8217;s Prime Minister Pedro Sanchez attends a press conference at Moncloa Palace in Madrid, Spain, July 31, 2024. REUTERS/Ana Beltran/File Photo</figcaption></figure>



MADRID/SANTA CRUZ DE TENERIFE, Aug 26 (Reuters)&nbsp;&#8211;&nbsp;Spain&#8217;s Prime Minister Pedro Sanchez starts his second visit this year to West Africa on Tuesday, aiming to curb migration to the Canary Islands and to counter the Russian presence in the Sahel region.



The West African migration route has seen a 154% surge this year, with 21,620 people crossing to the Canary Islands in the first seven months, according to data from the European Union border agency Frontex.



The wave has stretched resources on the Spanish archipelago, with local authorities saying they may have to house migrants in military camps or even in tents ahead of an expected rise in arrivals&nbsp;due to calmer conditions in the Atlantic Ocean.



Spanish authorities fear that as many as 150,000 more migrants from Africa may be set to make the perilous crossing in the coming months.



According to Frontex data, nearly half of the new arrivals are Malians, forced out of their country by a conflict and economic crisis in which the Russian mercenary group Wagner is involved.



Sanchez is focusing on strengthening relations with Mauritania, Senegal, and Gambia, the main departure points for migrant boats. The first two share land borders with Mali.



Spanish police have&nbsp;long&nbsp;operated in West Africa&nbsp;to strengthen&nbsp;border control&nbsp;as part of Madrid&#8217;s strategy to give financial and security aid to departure points for migrant boats.



<h2 class="wp-block-heading" id="h-return-to-mali">RETURN TO MALI</h2>



Spain is also planning a return to Mali following the closure of the EU military mission there last May. While France advocated for the mission&#8217;s termination, Spain is engaged in discussions with Bamako over bilateral military aid, according to a senior Spanish military officer.



&#8220;We cannot leave the ground empty for Russian forces to occupy. It is important to maintain a presence in the region,&#8221; the officer, who requested anonymity, told Reuters.



The Spanish mission could continue the training of the previous European mission, the source said.



Spain&#8217;s Defence Ministry confirmed that it was in talks over collaboration with Mali without providing further details.



Spain is advocating at the EU and NATO for a stronger focus on the global south, especially the Sahel, in light of the migration surge.



Jesus&nbsp;Nunez&nbsp;Villaverde, co-director of the Institute for Conflict Studies and Humanitarian Action, said that to resolve the Sahel&#8217;s problems, poverty and the effects of climate change need to be addressed.



&#8220;The solution is not military aid, which is a repetition of a failed model. A different kind of aid is needed,&#8221; he said.



Years of Islamist conflict in the Sahel have fuelled a humanitarian crisis with more than 3.1 million people displaced from their homes in Mali, Burkina Faso and Niger as of July, according to the International Organization for Migration (IOM).



In Mali, economic troubles have also worsened since the ruling junta seized power in 2020.



The conflict, unemployment and the impact of climate change on farming communities are the main drivers behind Malians&#8217; motivations to migrate, said Ousmane Diarre, head of a Malian NGO that defends migrant rights.



Moussa Diaby Wage, a 20-year-old from Mali, arrived in&nbsp;the&nbsp;Canaries in 2020&nbsp;in a boat from&nbsp;Mauritania.



Having secured Spanish nationality, his dream is to join the army. Meanwhile, he helps other migrant children in a centre for minors in Tenerife. Of the 50 teenagers living there, 30 came from Mali.



&#8220;We came here because Mali is at war, there is a lot of fighting in the north and many people have to make the decision to leave,&#8221; he told Reuters. &#8220;Most of those who come are young, very young, because it&#8217;s the only way to get a chance (in life)&#8221;.



(Reporting by Corina Pons in Canary Islands; Fadimata Kontao in Bamako; Belén Carreño in Madrid and Joan Faus in Barcelona; editing by Charlie Devereux and Angus MacSwan)

Spain’s PM Sanchez to hold press conference, in Madrid

Spain’s Sanchez visits West Africa aiming to stem migration surge

With more than 328 million terabytes of data <a href="https://whatsthebigdata.com/data-generated-every-day/">generated</a> daily, making sense of it all has become a key challenge for business, especially those seeking to thrive in a dynamic marketplace. The Hive Group, a leading Pan-African data and consumer insights performance agency, has been at the forefront of transforming this data into actionable insights, allowing brands to unlock efficiencies and opportunities.



<h2 class="wp-block-heading" id="h-a-fresh-focus">A fresh focus</h2>



Building on its legacy, The Hive Group has undergone an extensive restructuring, leading to the launch of its Tech Hive division. This division is designed to further strengthen The Hive Group’s capabilities by integrating advanced technology and data-driven methodologies into its service offerings. Through this, the Group is identifying more innovative ways to help brands navigate the complexities of the modern marketing landscape.



“We deliver creative solutions inspired by data and use insights from numerous sources. Tech Hive excites us because we now have our own data shop accessible 24/7, allowing us to deliver creative solutions quicker, map out consumer journeys, and ultimately produce high-quality products faster,” says Fiso Tshivhandekano, Managing Director of Idea Hive.



This repositioning reflects the Hive Group&#8217;s understanding of the dynamic landscape of marketing, where agencies must continually evolve and embrace innovation. The launch of Tech Hive underscores The Hive Group’s commitment to delivering precise, impactful solutions that drive organisational success.



<h2 class="wp-block-heading" id="h-a-refined-approach">A refined approach</h2>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Martech.jpg" alt="" class="wp-image-523508" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Martech.jpg 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Martech-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Martech-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Martech-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Martech-768x402.jpg 768w" sizes="auto, (max-width: 1200px) 100vw, 1200px" /></figure>



Central to this approach is The Hive Group’s strategic partnerships. Collaborating with mParticle, which combines real-time data quality and governance protections with AI-powered insights, the Group can now unlock even more powerful data-driven insights for its clients. Similarly, its partnership with StoryTeq allows the Group to produce high volumes of personalized content at scale through creative automation, ensuring that every marketing campaign is targeted and relevant.



The Hive Group’s powerful customer data platform, driven by mParticle technology, empowers brands to create detailed customer profiles by integrating data from various sources. This gives a holistic view of customer behaviours and preferences to ensure that marketing campaigns are targeted and relevant. The goal is to provide brands with the insights needed to drive better engagement and higher conversion rates.



“Our use of mParticle shows the practical benefits of creating precise customer segments. Being able to identify frequent buyers and seasonal shoppers helps organisations tailor marketing messages to each group,” says Yaw Dwomoh, CEO of The Hive Group.



Moreover, Tech Hive’s Martech stack allows The Hive Group to group individuals with similar thoughts and develop personalised solutions. This insights-driven approach enables businesses to transform data into actionable strategies that foster deeper customer connections and drive success.



“Our precision marketing has now reached the next level,” says Tshivhandekano. “We are fully tech-enabled, using our AI tool to figure out real business challenges for creative solutions. This insights-driven approach removes the guesswork and focuses on finding the real challenges to solve for greater business success.”



<h2 class="wp-block-heading" id="h-data-driven-insights-help-break-down-stereotypes">Data-driven insights help break down stereotypes</h2>



One of the key areas where Tech Hive is making a difference is in its approach to debunking cultural stereotypes. Traditional marketing often relies on broad assumptions about consumer behaviour, which can lead to ineffective campaigns. However, Tech Hive’s data-driven insights reveal a different reality—one where consumers are more likely to engage with brands that resonate with their thoughts and values.



“Our Martech stack allows us to group individuals with similar thoughts and develop personalised solutions. Businesses set up loyalty programs and collect consumer data but often do not know how to use it to grow their business and derive income through loyalty. Tech Hive helps businesses overcome this challenge by transforming data into actionable insights, enabling closer customer connections and tailored services,” explains Tshivhandekano.



<h2 class="wp-block-heading" id="h-precise-marketing">Precise marketing</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Storyteq-820x429.jpg" alt="" class="wp-image-523509" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Storyteq-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Storyteq-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Storyteq-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Storyteq-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Storyteq.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



By leveraging in-house AI tools, Tech Hive can now identify real business challenges and devise creative solutions based on data-driven insights rather than gut feelings. This approach ensures that strategies are not only relevant but also aligned with business goals, leading to greater impact and success.



This precision in marketing has been significantly enhanced by leveraging in-house AI tools. Tech Hive can now identify real business challenges and devise creative solutions based on data-driven insights, ensuring strategies are not only relevant but also aligned with business goals.



<h2 class="wp-block-heading" id="h-data-solutions-across-africa">Data solutions across Africa</h2>



As Tech Hive continues to drive innovation, its data solutions resonate beyond just marketing. Globally, companies across industry sectors are turning to data-driven advertising solutions, with digital advertising spending <a href="https://www.statista.com/outlook/dmo/digital-advertising/worldwide">projected</a> to top $740 billion by the end of this year. The rapid growth of artificial intelligence (AI), machine learning, and real-time data analytics has transformed the marketing landscape, enabling brands to engage with customers in more personalised ways.



“Both Idea Hive and Tech Hive will continue to adapt and innovate to reflect market trends. Our focus will remain on delivering powerful solutions that unlock new opportunities for our clients to achieve their goals,” says Dwomoh.



<h2 class="wp-block-heading" id="h-evolving-to-meet-market-demands">Evolving to meet market demands</h2>



The Hive Group’s repositioning and the launch of Tech Hive mark a significant step forward in the company’s evolution. By merging creativity with cutting-edge technology and leveraging data-driven insights, The Hive Group is well-positioned to help brands navigate the complexities of the modern marketing landscape.



As the company continues to innovate and expand its capabilities, it remains committed to driving business success for its clients across Africa and beyond.



<figure class="wp-block-video"><video controls src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VIDEO-2024-05-31-12-58-47.mp4"></video></figure>

Welcoming a new era of data-driven marketing

home

Why Israel’s war against Hamas is costing its economy

New mpox strain is changing fast; African scientists are ‘working blind’ to respond

South African private power producers seek fair deal over output curbs

AfCFTA Secretary General Laments S. Africa’s Absence from Flagship African payments system

Nigeria’s NNPC sending LNG cargoes to Japan and China

Kenyan shilling steady as diaspora FX inflows match demand

Europe markets rise as investors weigh economic, geopolitical outlook; UK markets reopen

South African rand stable ahead of data-filled second half of week

South African Markets – Factors to watch on Aug 27

African Markets – Factors to watch on Aug 27

Nigeria’s president appoints new security and intelligence chiefs

South Africa’s top gold miner sees profit surge as prices rally

How Wingstop Became One Of The Hottest Restaurant Stocks

Nigeria’s GDP growth rises to 3.19% year on year in Q2

Spain’s Sanchez visits West Africa aiming to stem migration surge

Welcoming a new era of data-driven marketing

The end of a dream: What happens when an Olympian’s career is over

News Tips

Advertise With Us

home

Why Israel’s war against Hamas is costing its economy

New mpox strain is changing fast; African scientists are ‘working blind’ to respond

South African private power producers seek fair deal over output curbs

AfCFTA Secretary General Laments S. Africa’s Absence from Flagship African payments system

Nigeria’s NNPC sending LNG cargoes to Japan and China

Kenyan shilling steady as diaspora FX inflows match demand

Europe markets rise as investors weigh economic, geopolitical outlook; UK markets reopen

South African rand stable ahead of data-filled second half of week

South African Markets – Factors to watch on Aug 27

African Markets – Factors to watch on Aug 27

Nigeria’s president appoints new security and intelligence chiefs

South Africa’s top gold miner sees profit surge as prices rally

How Wingstop Became One Of The Hottest Restaurant Stocks

Nigeria’s GDP growth rises to 3.19% year on year in Q2

Spain’s Sanchez visits West Africa aiming to stem migration surge

Welcoming a new era of data-driven marketing

The end of a dream: What happens when an Olympian’s career is over

News Tips

Advertise With Us

Newsletters