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<p>Kenya’s flower industry is now facing another setback amid the COVID-19 outbreak; lack of freight, even as demand begins to grow steadily. According report by the Kenya Flower Council, demand for cut flowers in the international market has begun to rise, with export demands hitting 3,500 tons per week. However, the available freight capacity cannot accommodate the rise in volume demand, seeing that it stands at only 1,300 tons for all commodities; flowers, vegetables, and fish. Alex Owiti, Communication Consultant, Horticulture Industry in East Africa joins CNBC Africa for more.</p>


COVID-19: Lack of freight holds back Kenya’s flower industry

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<p>The government of Rwanda has set up a $100 million COVID-19 relief fund so as to mitigate the economic effects of the pandemic on Rwanda&#8217;s economy. CNBC Africa&#8217;s Arnold Kwizera spoke to Rwanda&#8217;s Minister of Finance and Economic Planning, Uzziel Ndagijimana for more.</p>


These are the COVID-19 relief measures Rwanda’s government is offering to SMEs


<p>JOHANNESBURG (Reuters) &#8211; South African mobile operator Vodacom Group reported a 8.9% rise in annual earnings on Monday, buoyed by an improved second half performance in its domestic market and the sustained growth of its international businesses.</p>



<p>Headline earnings per share (HEPS) for the full-year ended March rose to 945 cents from 868 cents a year earlier.</p>



<p>HEPS is the main profit measure in South Africa and strips out certain one-off items.</p>



<p>Vodacom, which is majority owned by Vodafone, declared a final dividend of 405 cents per share.</p>



<p>(Reporting by Nqobile Dludla; Editing by Kim Coghill)</p>



<p>This article was first published on Reuters Africa <a href="https://af.reuters.com/article/investingNews/idAFKBN22N0U0-OZABS">https://af.reuters.com/article/investingNews/idAFKBN22N0U0-OZABS</a> and is republished with its permission.</p>


Administrators propose sales plan for SA retailer Edcon, see potential job cuts

South Africa’s Vodacom reports 8.9% jump in full-year earnings

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<p>The Nigeria Export Promotion Council says it expects a fall in the export of cocoa beans and cashew nuts this year and projects losses of about $160 million. Edward George, Independent Commodities expert joins CNBC Africa to discuss the impact of the COVID-19 pandemic on soft commodities in West Africa.</p>


How the COVID-19 pandemic impacts soft commodities in West Africa

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<p>Covid-19 has disrupted various supply chains with global travel and movement of goods halted in some places. This has affected industries such as Ndemezo the garments but could this be an opportunity for Africa&#8217;s garments sector? CNBC Africa spoke to Dennis, Deputy Managing Director of C&#038;D Group Pink Mango for more.</p>


How Africa’s garments sector can benefit from the supply chain disruptions during Covid-19

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<p>Rwanda has restricted movement as a measure to curb the spread of coronavirus and the lock-down has significantly accelerated adoption of e-commerce. It is important to have a conversation on how this can be sustained as well as track progress of digital transformation which Rwanda has been championing&#8230;.</p>


How COVID-19 is shaping the e-commerce sector in Rwanda

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<p>The African Capacity Building Foundation is the African Union’s specialised agency for capacity development. The Executive Secretary of the Foundation, Emmanuel Nnadozie joins CNBC Africa’s Kenneth Igbomor to explore ways the continent can build capacity to tackle the Covid-19 pandemic&#8230;.</p>


How Africa can build capacity against COVID-19 shocks

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<p>The coronavirus pandemic has crushed the global economy, and a recession is inevitable in the U.S. as the Federal Reserve warns the second quarter will be much worse than Q1. The auto industry has been hit particularly hard as car sales tank. But here is why some experts say that Tesla is better off than other U.S. automakers to get through this downturn.</p>
<p>» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC<br />
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Why Tesla Is Better Positioned To Survive Than Other Automakers

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<p>Nigerian tier-1 lender, Zenith Bank recorded a 0.6 per cent rise in first quarter profit-after-tax to 50.5 billion naira. Group Managing Director and CEO of Zenith Bank, Ebenezer Onyeagwu joined CNBC Africa’s Kenneth Igbomor to discuss how banks in Nigeria are staying ahead in the face of the Covid-19 outbreak&#8230;.</p>


Zenith Bank CEO on how Nigerian banks staying ahead of COVID-19 crisis

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<p>Despite the Covid-19 pandemic leaving the cinemas and movie theatres closed, festivals cancelled, Film releases pushed and also leaving film production stuck, here seems to have been a silver lining for the industry. CNBC Africa spoke to Eric Kabera, Founder of Kwetu Film Institution on the impact of the pandemic on the industry.</p>


COVID-19: Dramatic impact on film industry

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<p>It’s more than a week since South Africa’s economy was reopened for economic activity after a complete 5 week shutdown due to COVID-19. As more industries have become operational, what has the impact of this increased activity meant for South Africa’s recession battered economy? Economist Mike Schussler joins CNBC Africa for more.</p>


What level 4 lock-down means for SA’s economy

The cost of level 4 lock-down on SA’s economy


<p>By Chris Bishop</p>



<p>Scores of countries across Europe celebrated VE – Victory in Europe day – today to mark the end of World War Two that saw the slaughter of tens of millions of people of all creeds and colours from the deserts of North Africa to the snows of Scandinavia.</p>



<p>This is a good time also for Africa to reflect on it sacrifice between 1939 and 1945 that also acted as a catalyst for change on the continent. One million people took up arms in Africa to fight the crushing power of Nazi Germany, Japan and Italy. South Africa recruited more than 300,000 men – around 70,000 of them black South Africans who fought, worked and died usually unsung. The rush to the colours was staggering in some African nations – Botswana, then called Bechuanaland, asked for a couple of thousand army volunteers from its far flung villages and saw 10,000 recruits in just over a month. When I wrote a story on those men, in 2000, most then in their late 70s, many had kept proudly their uniforms and war medals and could still salute smartly as any parade ground peacock.</p>



<p>Tens of thousands never came back. Many of the black riflemen who fought hand-to-hand with the enemy received little reward, maybe a new suit and a bicycle, and often died in poverty.</p>



<p>One such overlooked hero was Job Maseko from KwaThema, in Springs near Johannesburg. He was a delivery man in his home town and joined up in the then Native Military Corps. &nbsp;Following his basic training he was shipped to North Africa, in 1942, to face General Erwin Rommel’s tough Afrika Korps that had the allies on the run.</p>



<p>On June 21 1942 Rommel’s tanks swept into Tobruk capturing thousands of allied soldiers including more than 10,000 troops of the South African 2<sup>nd</sup> Infantry Division. Among the 30,000 prisoners was Lance Corporal Job Maseko.</p>



<p>Italian troops held the black South African soldiers under guard and by all accounts treated them poorly. This angered the feisty Lance Corporal Maseko who swore revenge against his enemy captors. They forced Maseko to work loading an Italian military supply ship. He took a milk tin and filled it with cordite and a fuse. With the help of his fellow prisoners he placed it among petrol drums deep down in the ship and blew it sky high – a big blow to the enemy war effort.</p>



<p>Generals recommended Maseko for a Victoria Cross – the highest award for gallantry in wartime regardless of rank – but the colour of his skin counted against him, in their eyes. Instead, they awarded him a lesser Military Medal.</p>



<p>“In carrying out this deliberately planned action, Job Maseko displayed ingenuity, determination and complete disregard of personal safety from punishment by the enemy or from the ensuing explosion which set the vessel alight,” said the medal citation.</p>



<p>When Lance Corporal Maseko came home there was little waiting for him and he died in poverty. In 1952, a train did what the Germans and Italians couldn’t – it hit Maseko and killed him.</p>



<p>Yet others who went to the war from Africa – from Johannesburg to Kenya to Nigeria – returned to fuel the fires of independence. They had seen how their white comrades-in-arms had bled and screamed for their mothers, too, as they died. It exploded many colonial myths of white supremacy and created a generation of battle hardened patriots ready to question and throw off the shackles of imperial rule.</p>



<p>VE Day is not only a time to reflect on the ending of a world war – it is also a time for Africa to reflect on the sacrifices of its great-grandfathers, who fought toe-to-foe with fascism; and also how it led to hard won freedoms at home.</p>


Job_Masego00

Victory in Europe Day – Time for Africa to reflect on its blood and sweat sacrifice


<p>By Chris Bishop.</p>



<p>Like most hard pressed entrepreneurs in Africa, Don Scott had to cut costs and batten down the hatches in the face of the COVID-19 lockdown – like very few, he also had to worry about wild animal invasions and encroaching bush.</p>



<p>Scott, an engineer by trade, runs the Tanda Tula lodge, in Timbavati near the Kruger Park, in northern South Africa. Right now it is operating on a skeleton staff as most of his 62 workers are taking leave; they were paid for April, but took a 15 per cent cut. For those left, their full time job is trimming back the fast growing bush and stopping the wild animals, that live in it, from taking over the resort.</p>



<p>“If you let a game lodge go you will never find it again!” laughs Scott. As speak on the telephone a pride of lions has just walked across his manicured lawn- six males and four lionesses, he says, before continuing with his story.</p>



<p>“What the few of us left have got to do is cut back the trees and make sure there is enough human activity around the camp. If there is then usually the animals stay on the periphery.”</p>



<p>Scott watched the lights go out at his game lodge in a few crazy days in March. The travel ban was declared on March 15 and the resort emptied. On that Sunday, 22 of the camp’s 24 tents were occupied by tourists from the United States, France and the United Kingdom. By the following Friday, nearly all the tourists had fled to the airport. On that evening, two British holiday makers remained rattling around in the huge dining room at the lodge.</p>



<p>“We got all the staff together and sat down and had dinner with them so they didn’t feel lonely,” says Scott.</p>



<p>“But to be honest, I think we were all trying to keep each other’s spirits up.”</p>



<p>For now Scott spends his days hacking at the bush, watching out for lions and waiting for the travel restrictions and lockdown to subside. Until it does there won’t be a tourist in sight in Timbavati and lions will be the fleeting kings of the lawn, as well as the forest.</p>



<p>Don Scott will be taking part in the CNBC Africa virtual panel discussion Business Tomorrow at 14 00 CAT on Channel 410 on Tuesday May 12. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>


don scott

How COVID-19 led to wild animal invasions in Africa.


<p>South Africa’s Department of Employment and Labour has through the <a href="https://www.cnbcafrica.com/videos/2020/04/29/uif-pic-in-talks-with-edcon-over-a-potential-lifeline/">Unemployment Insurance Fund (UIF)</a> disbursed almost R9.5 billion (R9,474,081 937.26) through the <a href="https://www.cnbcafrica.com/videos/2020/05/05/covid-19-bites-into-sas-tax-revenue/">COVID-19</a> Temporary Employer/Employee Relief Scheme (TERS) benefitting 1,937,558 workers.</p>



<p>A total of 619,365 workers are still to be paid more than R2.6 billion pending the correct information being supplied to the UIF.</p>



<p>The following statement provides more details:</p>



<p><strong>DEPARTMENT OF EMPLOYMENT AND LABOUR CONTINUES TO MAKE LIVES EASIER WITH ALMOST R10-BILLION DISTRIBUTED TO UIF CONTRIBUTORS</strong></p>



<p>The Department of Employment and Labour continues in its quest to make the lives of workers easier during the lockdown by paying them through employers and bargaining councils.</p>



<p>As of today, the department through the Unemployment Insurance Fund (UIF) has disbursed almost R9.5-billion (R 9 474 081 937.26) through the COVID-19 Temporary Employer/Employee Relief Scheme (TERS) benefitting 1 937 558 workers.</p>



<p>&#8220;This is a critical infusion and further creates a safety net for workers who may ordinarily not be paid because of the lockdown as a result of the Coronavirus pandemic. We serve the people of this country and it is particularly at this point that we demonstrate the nature of caring government thus ensuring that to the extent possible, no person is left behind.&nbsp;</p>



<p>&#8220;This intervention should be seen as part of the government-wide effort to mitigate the worst effects of the pandemic&#8221;, said Minister Thulas Nxesi.&nbsp;</p>



<p>Prudent investments by the UIF enabled it to meet its obligations despite revenue falling by over R400-million as a result of decreased contributions.</p>



<p>&#8220;We still appeal to employers to make the necessary applications; provide the fund with more information where we have sent queries and to pay the workers the money due to them&#8221;, Nxesi continued.</p>



<p>A total of 619 365 workers are still to be paid more than R2.6- billion pending&nbsp; the correct information being supplied to the UIF.</p>



<p><strong>Issued by the GCIS on behalf of The Department of Employment and Labour</strong></p>



<p><strong>07 May 2020</strong></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

SA workers receive R9.5bn through UIF’s COVID-19 relief scheme

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<p>Food companies have also not been immune to economic impact of the Covid-19 emergency; CNBC Africa spoke to Jean Marie Prosper Ndayiragije, the Country Manager at Africa Improved Foods to find out more on how the company is handling the effects of Covid-19.</p>


How processed food factories are handling COVID-19 shocks

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<p>CNBC.com&#8217;s MacKenzie Sigalos brings you the day&#8217;s top business news headlines, and what to watch as the coronavirus pandemic continues to keep most of America on lockdown. Today, CNBC&#8217;s Kate Rooney also takes a look at the widespread layoffs hitting the lucrative tech sector and start-up scene.</p>


Big layoffs hit Silicon Valley’s lucrative start-up sector | CNBC After Hours


<p>By Jee-A Van Der Linde – Economist</p>



<p>The World Bank will grant Zimbabwe $7m to help fight the economic damage caused by the Covid-19 pandemic.</p>



<p>The Washington-based lender said it will mobilise $5m from its Global Financing Facility Trust Fund towards the outbreak and redirect roughly $2m from its ongoing Idai Recovery Project to communities in need.</p>



<p>The aid comes at a crucial time and despite Zimbabwe being in debt arears with numerous multilateral and bilateral lenders, which renders the country ineligible for new loans or debt forgiveness.</p>



<p>At the beginning of April, Finance Minister Mthuli Ncube wrote to the IMF as well as other leading international lenders, pleading for financial assistance. With more than half of the population in need of food aid and the entire world facing a health pandemic, conditions in the country have reached an acutely distressing point.</p>



<p>Zimbabwe can no longer go at it alone.</p>



<p>After having settled $107.9m of debt with the IMF in 2016, the country is still indebted to the World Bank, African Development Bank (AfDB), and European Investment Bank (EIB), while significant amounts are also owed to other creditors, both within the Paris Club and outside.</p>



<p>The debt situation is precarious, with total external debt (largely in the form of government debt) having ballooned to over $8bn, according to the Ministry of Finance (MoF).</p>



<p>The reasons for this come down to years of economic mismanagement and frequent policy errors.</p>



<p>That said, Zimbabwe is eager to restructure and repay its debt obligations in order to become eligible for new loans. Minister Ncube has previously said that settling arrears will help elevate the country’s credit standing, but a series of external shocks and policy missteps have impeded the process.</p>



<p>When considering Zimbabwe’s tremendous financing needs, the $7m – ZWL$125m at the current 25:1 fixed exchange rate with the greenback – is but a drop in the proverbial bucket and falls at the lower end of what the IMF and World Bank have afforded other African nations.</p>



<p>Although any bit of aid will help at this stage, Zimbabwe’s problems are far from over and it will need more assistance going forward.</p>



<p>NKC’s analysis shows that Zimbabwe will be among the continent’s main economic laggards this year, joining the ranks of oil producing nations which have arguably been the hardest hit by the global pandemic.</p>



<p>Simply put, Zimbabwe’s economy will suffer a very deep contraction in 2020, akin to levels last seen over a decade ago.</p>



<p>That said, conditions can only deteriorate so far and serious intervention will need to take place at some point.</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>


Zimbabwe tightens coronavirus lockdown in capital Harare as cases hit 203

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COVID-19: Lack of freight holds back Kenya’s flower industry

These are the COVID-19 relief measures Rwanda’s government is offering to SMEs

South Africa’s Vodacom reports 8.9% jump in full-year earnings

How the COVID-19 pandemic impacts soft commodities in West Africa

How Africa’s garments sector can benefit from the supply chain disruptions during Covid-19

How COVID-19 is shaping the e-commerce sector in Rwanda

How Africa can build capacity against COVID-19 shocks

Why Tesla Is Better Positioned To Survive Than Other Automakers

Zenith Bank CEO on how Nigerian banks staying ahead of COVID-19 crisis

COVID-19: Dramatic impact on film industry

The cost of level 4 lock-down on SA’s economy

Victory in Europe Day – Time for Africa to reflect on its blood and sweat sacrifice

How COVID-19 led to wild animal invasions in Africa.

SA workers receive R9.5bn through UIF’s COVID-19 relief scheme

How processed food factories are handling COVID-19 shocks

Big layoffs hit Silicon Valley’s lucrative start-up sector | CNBC After Hours

Op-Ed: World Bank opens its purse to Zimbabwe, but hands out pennies

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COVID-19: Lack of freight holds back Kenya’s flower industry

These are the COVID-19 relief measures Rwanda’s government is offering to SMEs

South Africa’s Vodacom reports 8.9% jump in full-year earnings

How the COVID-19 pandemic impacts soft commodities in West Africa

How Africa’s garments sector can benefit from the supply chain disruptions during Covid-19

How COVID-19 is shaping the e-commerce sector in Rwanda

How Africa can build capacity against COVID-19 shocks

Why Tesla Is Better Positioned To Survive Than Other Automakers

Zenith Bank CEO on how Nigerian banks staying ahead of COVID-19 crisis

COVID-19: Dramatic impact on film industry

The cost of level 4 lock-down on SA’s economy

Victory in Europe Day – Time for Africa to reflect on its blood and sweat sacrifice

How COVID-19 led to wild animal invasions in Africa.

SA workers receive R9.5bn through UIF’s COVID-19 relief scheme

How processed food factories are handling COVID-19 shocks

Big layoffs hit Silicon Valley’s lucrative start-up sector | CNBC After Hours

Op-Ed: World Bank opens its purse to Zimbabwe, but hands out pennies

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