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<p>According to the United Nations Conference on Trade and Development, global trade is predicted to fall by a record 27 per cent in the second quarter of 2020. In this episode of Doing Business in Rwanda, we take a look at the impact COVID-19 has had on trade and the establishment of cross border cargo transit logistics platform to curb the spread of the virus and facilitate smooth trade between neighbouring countries&#8230;.</p>


How COVID-19 is impacting trade & cross border truck drivers in East Africa


<p>On Sunday evening <a href="https://www.cnbcafrica.com/coronavirus/2020/05/24/sa-to-move-to-level-3-of-lockdown-on-1st-june-these-are-the-details/">South Africa&#8217;s President Cyril Ramaphosa announced</a> that the country would move from level 4 to level 3 of its phased easing of lockdown on June 1.</p>



<p>This decision was based on South Africa&#8217;s risk-adjusted approach to combating COVID-19. The approach is guided by the level of infections and rate of transmission, the capacity of health facilities, the extent of the implementation of public health interventions and the economic and social impact of continued restrictions.</p>



<p>The country <a href="https://www.cnbcafrica.com/news/2020/03/23/breaking-nationwide-lockdown-announced-in-south-africa/">entered lockdown on 27th March</a> to contain the spread of COVID-19 and build capacity to fight it. Below shows how the two levels compare&#8230; </p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="645" height="486" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/LEVEL-3-A.jpg" alt="" class="wp-image-372171" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/LEVEL-3-A.jpg 645w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/LEVEL-3-A-300x226.jpg 300w" sizes="auto, (max-width: 645px) 100vw, 645px" /></figure>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="645" height="510" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/level-3-b.jpg" alt="" class="wp-image-372172" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/level-3-b.jpg 645w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/level-3-b-300x237.jpg 300w" sizes="auto, (max-width: 645px) 100vw, 645px" /></figure>


COVID-19: Investing for Roubini’s Greater Depression

How SA’s level 3 compares to level 4  when it kicks in on June 1

Ramaphosa tests negative for coronavirus as South Africa to begin lockdown

CR-lockdown

SA to move to level 3 of lockdown on 1st June, these are the details…


<p>Report by Catherine Clifford</p>



<p>Twitter and Square co-founder and CEO <a href="https://www.cnbcafrica.com/news/2020/04/08/twitter-ceo-jack-dorsey-pledges-1-billion-of-square-stake-for-covid-19-relief-efforts/">Jack Dorsey</a> is worth $4.9 billion, according to Forbes.</p>



<p>But the 43-year-old college drop-out says he plans to give away all of his money within his lifetime.</p>



<p>Why?&nbsp;</p>



<p>“I live by the principle of everything is connected, so if someone is in pain, I’m in pain, ultimately, over time,” Dorsey told former Democratic presidential hopeful and universal basic income advocate Andrew Yang on an episode of the “Yang Speaks” podcast published Thursday.</p>



<p>“I want to make sure that I’m doing whatever I can in my lifetime to help that through my companies’ works, through my own personal giving,” Dorsey told Yang.&nbsp;</p>



<p>On April 7, pledged (on Twitter, of course) to transfer $1 billion worth of his shares of Square to fund a combination of <a href="https://www.cnbcafrica.com/videos/2020/05/21/covid-19-working-from-home-presents-new-cyber-security-challenges-for-firms/">Covid-19</a> relief efforts, universal basic income and support for girls’ health and education. At the time, that was approximately 28% of his net worth.</p>



<figure class="wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">I’m moving $1B of my Square equity (~28% of my wealth) to <a href="https://twitter.com/hashtag/startsmall?src=hash&amp;ref_src=twsrc%5Etfw">#startsmall</a> LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI. It will operate transparently, all flows tracked here: <a href="https://t.co/hVkUczDQmz">https://t.co/hVkUczDQmz</a></p>&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1247616214769086465?ref_src=twsrc%5Etfw">April 7, 2020</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>“I’m in a situation that I never imagined when I was a kid or [even] when I was 25,” Dorsey told Yang. “I didn’t have any aspect of what money would mean until I was, probably 35.” (Dorsey’s first appearance on the Forbes billionaires list was in 2012.) </p>



<p>“I’m so grateful, but part of gratitude is not just saying I’m grateful, it’s doing,” Dorsey told Yang.&nbsp;</p>



<p>For Dorsey, that means giving his money to worthy causes.&nbsp;</p>



<p>“I want to give out all my money in my lifetime. I want to see the impacts, selfishly, in my lifetime,” Dorsey told Yang. “I want to make sure that we’re helping people.”</p>



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<iframe loading="lazy" title="Jack Dorsey breaks down the future of tech  w/ Andrew Yang" width="500" height="281" src="https://www.youtube.com/embed/qkt-iphB40U?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<p>Dorsey is publicly tracking his $1 billion donation via a Google Document. Because the contribution is in stock and the value of the stock has increased, the donation is currently worth more than $1.5 billion, according to the Google Doc. So far, $200 million of the stock has been liquidated into cash for dispersal, Dorsey said.</p>



<p>As of Thursday, Dorsey has distributed a bit more than $85 million, according to the Google Doc.</p>



<p>The unconventional tech billionaire did not want to start a foundation because he doesn’t want to pay the overhead expenses involved with running a philanthropic organization, he told Yang.&nbsp;</p>



<p>Giving away his money feels good, Dorsey says, in the same way that creating Twitter and Square and seeing the tech tools being used for the first time feels good.</p>



<p>“When you build something like a Twitter or Square, the greatest value is actually seeing someone else use it. That’s what drives us. It feels electric,” Dorsey said. “The first time we saw tweets from Iran, it felt electric. It felt amazing.” And it felt just as amazing when his mom texted him to tell him that the coffee shop she goes to in St. Louis had started using Square.</p>



<p>“That electricity that I feel in those moments is the same that I’m feeling right now when I give and when I know that these organizations that we’re giving to are focused on real impact and doing things that are bigger than all of us and especially me,” Dorsey told Yang.&nbsp;</p>



<p>One of those organizations is Yang’s. Dorsey dispersed $5 million to Yang’s Humanity Forward initiative, an organization which advocates for the benefits of universal basic income. That money will be given in $250 microgrants to those in need, Yang said.</p>



<figure class="wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Here’s our podcast talking about it and a few other things: <a href="https://t.co/x90i2I89No">https://t.co/x90i2I89No</a></p>&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1263459839360897024?ref_src=twsrc%5Etfw">May 21, 2020</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>This article was first published on CNBC Make It <a href="https://www.cnbc.com/2020/05/21/twitter-ceo-jack-dorsey-on-giving-away-his-billions.html">https://www.cnbc.com/2020/05/21/twitter-ceo-jack-dorsey-on-giving-away-his-billions.html</a> and is republished with its permission.</p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


Billionaire Bill Gates: 6 movies and TV shows to help relieve pandemic stress

Here’s why Twitter billionaire Jack Dorsey wants to give all his money away

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<p>Internal audits, which ensure corporate governance and proper accounting processes are followed, should be declared an essential service during Covid-19.</p>


Why internal audits should be declared essential services during COVID-19

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<p>In the past couple of weeks since the total lock-down was lifted in Rwanda, we’ve seen the number of Covid-19 confirmed cases fluctuate, at some point even dropping down to zero. Some people have taken the falling numbers to mean progress in the fight against the virus, but now as the numbers begin to build again, the uncertainty has returned. So what does it all mean? And how should we be reacting? Epidemiologist, Enatha Mukantwali joins CNBC Africa for more.</p>


COVID-19: What to expect during a pandemic

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<p>At a time of huge uncertainty in all areas of the economy, including the creative industries, many are trying to understand the on-going impact of COVID-19 on our sector. Pierra Ntayombya, CEO, Haute Baso joins CNBC Africa to outline what is being done to create support for the creative industry.</p>


Africa’s creative industry looks to reinvent itself to survive COVID-19

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<p>Nigeria’s Minister for Finance, Budget and National Planning, Zainab Ahmed says Nigeria&#8217;s economy could shrink by as much as 8.9 per cent this year in a worst-case scenario without stimulus. Ahmed stated that the contraction could reach 4.4 per cent in a best-case scenario, without any fiscal measures. But with a stimulus, the contraction could be kept to just 0.59 per cent. Pabina Yinkere, Chief Investment Officer at Sigma Pensions joins CNBC Africa for more.</p>


Nigeria Finmin: Economy to shrink 8.9% in worst case scenario

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<p>The Nigeria Centre for Disease Control says 40,043 COVID-19 tests have been conducted so far. The national public health institute had earlier this month released a guideline for the Integration of Private Sector Laboratories as part of the National COVID-19 Response. Peter Imoesi, Fellow at Aberdeen University joins CNBC Africa to assess Nigeria&#8217;s approach to testing.</p>


Peter Imoesi: Why Nigeria should rethink its COVID-19 testing approach

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<p>Elmar Conradie, CEO of FlySafair spoke to CNBC Africa about its business position amid the Covid-19 crisis on the travel industry and how they are faring in the aviation sector as its counterparts are facing liquidations and business rescue procedures.</p>


FlySafair CEO on COVID-19 impact & how govt can help save SA’s struggling airlines

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<p>In Kenya diesel prices fell by the largest margin in 13 years on lower global crude prices. The prices would have fallen deeper were it not for the new levies imposed on fuel last month following changes to the laws that also introduced tax reliefs to protect the economy against the COVID-19 pandemic. Moreover, the country will continue with plans to build a $1.135 billion pipeline from Lokichar to Lamu to boost its crude oil exports despite the concern over falling prices of the commodity in the global market. Odhiambo Ramogi, Economic Analyst joins CNBC Africa for more.</p>


COVID-19: Kenya continues pipeline plan despite drop in oil prices

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<p>Africa Shared Value Leadership E-Summit comes at a time when many economies around the world have been affected by the COVID-19 pandemic and different countries are putting in place economic recovery plans. Prof Mark Kramer, of Harvard Business School and Co-Founder of Shared Value Initiative (USA) spoke with CNBC Africa on how companies can actively participate in rebuilding economies.</p>


How companies can play an active role in rebuilding economies ravaged by COVID-19


<p class="has-text-align-center"><strong>Is SA’s mining industry too deep in the COVID-19 crisis? How can it become the sunrise industry it wants to be?</strong></p>



<p>For more than a century mining was the backbone of South Africa&#8217;s economy in recent years, it fell on hard times. Despite this, it still managed to contribute close to R361bn or 8.1% to SA’s GDP and over R91bn to fixed investment in 2019.  It employed 454,861 people and paid R24.3 billion in taxes. What was the impact of COVID-19 and lockdowns on the industry? Did it put mining too deep in the COVID-19 crisis? How can it once again become the sunrise industry it wants to be? <a href="https://cvent.me/2PQoZk">Register today</a> for this virtual panel discussion to find out…</p>



<p class="has-text-align-center"><strong><a href="https://cvent.me/2PQoZk">REGISTER NOW</a></strong>: <a href="https://cvent.me/2PQoZk">https://cvent.me/2PQoZk</a></p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="581" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1110x581.jpg" alt="" class="wp-image-371919" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1110x581.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-696x364.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1068x559.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3.jpg 1200w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /></figure>



<p><strong>Speakers<br></strong><br>Fortune Mojapelo, CEO,  Bushveld Minerals<br><br>Deshnee Naidoo, former CEO, Vedanta Zinc International and board member, Minerals Council South Africa</p>



<p>Peter Steenkamp, CEO, Harmony</p>



<p>Roger Baxter, CEO, Minerals Council South Africa</p>



<p><strong>TOPICS COVERED</strong></p>



<ul class="wp-block-list"><li>What measures are in place to help South Africa’s mining sector bounce back from the COVID-19 headwinds and lockdown?</li><li>Is it enough?</li><li>Rebuilding the mining industry for tomorrow</li></ul>


The 4 most under-reported stories on the COVID-19 pandemic

Is SA’s mining industry too deep in the COVID-19 crisis? Register today for this virtual seminar…

<p><iframe loading="lazy" src="https://www.youtube.com/embed/ZD3jX0O5Hvc" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>The rand extended its winning run, strengthening over one and a half per cent after the Reserve Bank cut interest rates by a further 50 basis points today, citing low inflation risks. Joining CNBC Africa to unpack the impact of the latest interest rate cut on the real economy is Isaah Mhlanga, Chief Economist, Alexander Forbes and Professor Brian Kantor, Chief Strategist &#038; Economist at Investec Wealth &#038; Investment&#8230;.</p>


COVID-19: Business reacts to SARB’s 50bps rate cut

COVID-19: Economists react to SARB’s 50bps rate cut


<p>JOHANNESBURG (Reuters) &#8211; South Africa’s central bank cut its main lending rate by 50 basis points (bps) to 3.75% on Thursday, in what Governor Lesetja Kganyago said was a move aimed at shielding the economy from the impact of the new coronavirus.</p>



<p>The reduction comes on top of the 225 bps of rate cuts since March. The country has the highest number of coronavirus infections on the continent, with more than 18,000 identified cases.</p>



<p>(Reporting by Mfuneko Toyana and Olivia Kumwenda-Mtambo; Editing by Alexander Winning)</p>



<p>This article was first published on Reuters Africa <a href="https://af.reuters.com/article/investingNews/idAFKBN22X1OQ-OZABS">https://af.reuters.com/article/investingNews/idAFKBN22X1OQ-OZABS</a> and is republished with its permission.</p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions

South African Reserve Bank cuts lending rate by 50 basis points

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<p>Afrimat’s annual operating profit surged 27.5 per cent to R471.2 million, boosted by strong demand from its iron ore operations. However, the construction and mining group withheld its final dividend to use the cash to cement its balance sheet from Covid-19. Afrimat CEO, Andries Van Heerden joins CNBC Africa to review the numbers.</p>


Afrimat FY HEPS surge

Afrimat FY HEPS surge, withholds final dividend

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<p>According to a Moody&#8217;s report, measures taken by Tanzania&#8217;s Central Bank will support the market-funded banks in meeting their funding and liquidity needs amid the Covid-19 pandemic. However, these measures are not enough to prevent a decline in bank asset quality. Peter Mushangwe, Banking Analyst at Moody’s joins CNBC Africa for more.</p>


Newsletter

How COVID-19 is impacting trade & cross border truck drivers in East Africa

How SA’s level 3 compares to level 4 when it kicks in on June 1

SA to move to level 3 of lockdown on 1st June, these are the details…

Here’s why Twitter billionaire Jack Dorsey wants to give all his money away

Why internal audits should be declared essential services during COVID-19

COVID-19: What to expect during a pandemic

Africa’s creative industry looks to reinvent itself to survive COVID-19

Nigeria Finmin: Economy to shrink 8.9% in worst case scenario

Peter Imoesi: Why Nigeria should rethink its COVID-19 testing approach

FlySafair CEO on COVID-19 impact & how govt can help save SA’s struggling airlines

COVID-19: Kenya continues pipeline plan despite drop in oil prices

How companies can play an active role in rebuilding economies ravaged by COVID-19

Is SA’s mining industry too deep in the COVID-19 crisis? Register today for this virtual seminar…

COVID-19: Economists react to SARB’s 50bps rate cut

South African Reserve Bank cuts lending rate by 50 basis points

Afrimat FY HEPS surge, withholds final dividend

Moody’s: Tanzania’s monetary policy to support banks’ liquidity

News Tips

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Newsletter

How COVID-19 is impacting trade & cross border truck drivers in East Africa

How SA’s level 3 compares to level 4 when it kicks in on June 1

SA to move to level 3 of lockdown on 1st June, these are the details…

Here’s why Twitter billionaire Jack Dorsey wants to give all his money away

Why internal audits should be declared essential services during COVID-19

COVID-19: What to expect during a pandemic

Africa’s creative industry looks to reinvent itself to survive COVID-19

Nigeria Finmin: Economy to shrink 8.9% in worst case scenario

Peter Imoesi: Why Nigeria should rethink its COVID-19 testing approach

FlySafair CEO on COVID-19 impact & how govt can help save SA’s struggling airlines

COVID-19: Kenya continues pipeline plan despite drop in oil prices

How companies can play an active role in rebuilding economies ravaged by COVID-19

Is SA’s mining industry too deep in the COVID-19 crisis? Register today for this virtual seminar…

COVID-19: Economists react to SARB’s 50bps rate cut

South African Reserve Bank cuts lending rate by 50 basis points

Afrimat FY HEPS surge, withholds final dividend

Moody’s: Tanzania’s monetary policy to support banks’ liquidity

News Tips

Advertise With Us

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