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<p>When the Covid-19 pandemic hit, majority of African countries were quick to respond to mitigate the impact. However, these responses have come at the expense of recovery. Now countries in Africa face fiscal vulnerabilities. What will it take to recover? CNBC Africa filed this report.</p>


COVID-19: How Africa can chart the path to recovery


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT.jpeg" alt="" class="wp-image-410608" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption><em>Bloomberg | Bloomberg | Getty Images</em></figcaption></figure>



<p>Transnet, a state-owned South African rail, port and pipeline company, appears to be in crisis mode after a <a href="https://www.cnbcafrica.com/2021/south-africas-transnet-hit-by-cyber-attack-affecting-some-container-terminal-operations-sources/">cyberattack</a> <a href="https://www.cnbcafrica.com/2021/south-africas-transnet-hit-by-cyber-attack-affecting-some-container-terminal-operations-sources/">hit the company last week.</a></p>



<p>The logistics firm has been forced to halt operations at container terminals in Durban, Ngqura, Port Elizabeth and Cape Town, Bloomberg reported Tuesday, citing a note that Transnet sent to customers.</p>



<p>“Transnet, including Transnet Port Terminals, experienced an act of cyberattack, security intrusion and sabotage, which resulted in the disruption of TPT normal processes and functions or the destruction or damage of equipment or information,” the note reportedly reads.</p>



<p>“Investigators are currently determining the exact source of the cause of compromise and extent of the ICT data security breach or sabotage,” it continues.</p>



<p>Transnet did not immediately respond to a CNBC request for comment. Its website was still inaccessible on Tuesday morning and showing an error message.</p>



<p>The Johannesburg-based company, founded in 1991, said Thursday it was experiencing disruption on its IT network. On Friday, it said it had identified and isolated the source of the disruption.</p>



<p>Read more: <a href="https://www.cnbcafrica.com/2018/heres-why-nigeria-is-in-talks-with-south-africas-transnet/">Here’s why Nigeria is in talks with South Africa’s Transnet</a></p>



<p>But the technical issues seem to be persisting. In the customer note, Transnet reportedly declared “force majeure,” which is when unforeseeable circumstances prevent a company from fulfilling a contract.</p>



<p>Transnet’s port in Durban handles over 60% of South Africa’s container traffic.</p>



<p>The company is taking “all available and reasonable mitigation measures” to limit the impact from the disruption, according to Bloomberg.</p>



<p>Last Friday, the head of South Africa’s Road Freight Association said in&nbsp;<a href="https://supplynetworkafrica.com/cyber-attack-on-transnet-cripples-the-movement-of-goods/" target="_blank" rel="noreferrer noopener">a statement</a>&nbsp;that he was “dismayed and gravely concerned”&nbsp;about the cyberattack.</p>



<p>Gavin Kelly, RFA’s CEO, said the attack has resulted in “massive delays and&nbsp;unreliability of the movement of goods across all modes of transport,” adding that road freight is bearing the brunt of the impact.</p>



<p>“The gates to ports are closed which means no trucks are moving in either direction,” he said. “This has immediate effect: the queues will get a lot longer, deliveries will be delayed and congestion will increase.”</p>



<p>The disruption puts Africa’s most industrialized economy in further jeopardy. South Africa is trying to recover after this month’s deadly riots following the imprisonment of former President Jacob Zuma.&nbsp;</p>



<p>Transnet has asked some of its employees who were not involved in running operations to take leave until the issues have been fixed, Reuters reported Tuesday, citing two sources familiar with the matter.</p>


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South Africa port operations halted and workers reportedly put on leave after major cyberattack

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<p>The Central Bank of Nigeria plans to begin the pilot phase of the digital currency initiative on the first of October. Tagged &#8220;GIANT&#8221; the digital currency will use the Hyperledger Fabric Blockchain. Hakeem Disu, CEO of KOINWA joins CNBC Africa for more.</p>


Nigeria’s planned digital currency: Who benefits?

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<p>In his address on Sunday, South Africa&#8217;s President Cyril Ramaphosa gave detail of a rather substantial social relief package to address the effects of the Covid-19 pandemic and the recent unrest. Among these interventions is the resumption of the R350 social relief grant until March next year, and the COVID-19 TERS scheme would be extended for those sectors which were affected by Alert Level 4.The question is, where is this money coming from and someone who may have done the math is  Annabel Bishop, Chief Economist at Investec.</p>


Ramaphosa unveils social and economic relief measures in wake of riots


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/25477273332_94fa2a8011_k-820x547.jpg" alt="" class="wp-image-410581"/><figcaption>Standard &amp; Poor&#8217;s <br>Photo: via Flickr</figcaption></figure>



<p>JOHANNESBURG, July 27 (Reuters) &#8211; Recent unrest in South Africa is likely to shave about 0.7% off headline GDP growth in 2021 but strong commodity prices will continue to support the economy, S&amp;P Global ratings said.</p>



<p>Protests in support of former president Jacob Zuma broke out this month when he handed himself over to authorities to start a 15-month jail term for contempt of court, and escalated into riots that killed more than 300 people and caused extensive damage to businesses and infrastructure.</p>



<p>Read more: <a href="https://www.cnbcafrica.com/2018/sp-raises-growth-outlook-south-africa/">S&amp;P raises growth outlook for South Africa</a></p>



<p>&#8220;It is estimated that the unrest will likely shave about 0.7% off headline GDP growth in 2021, hit private consumption, and slow the pace of economic recovery,&#8221; S&amp;P said in a report dated July 26.</p>



<p>&#8220;If the unrest were to recur and last for a long time, this would further pressure the economy and potentially stifle the rebound.&#8221;</p>



<p>S&amp;P forecast that South Africa&#8217;s economy will expand by 4.2% in 2021, which is more than the Treasury&#8217;s February estimate of 3.3% growth.</p>



<p>Read more: <a href="https://www.cnbcafrica.com/2017/barclays-africa-responds-sp-downgrade-south-african-banks/">Barclays Africa responds to S&amp;P downgrade of South African banks</a></p>



<p>The ratings agency said it did not expect an immediate rating action, but if the unrest was repeated or prolonged, it could pose risks to ratings.</p>



<p>In May, S&amp;P affirmed South Africa&#8217;s long-term foreign-currency rating of BB-, or three notches below the investment grade. It kept the country&#8217;s local currency debt at BB, both with a stable outlook. </p>



<p>(Reporting by Olivia Kumwenda-Mtambo; Editing by Alison Williams and Giles Elgood)</p>


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South Africa’s unrest likely to shave 0.7% off 2021 growth, says S&P

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<p>The Government of Rwanda announced plans to streamline policies and introducing incentives to aid its elaborate plan to increase the uptake of Technical and Vocational Education and Training courses. More over, it has allocated about Rwf7.1 billion for Technical and Vocational Education and Training in the current fiscal year (2021/2022), a 50 per cent increase from the previous year  as it moves to address the shortage of these practical training materials. James Gashumba, Vice Chancellor at Rwanda Polytechnic joins CNBC Africa for more.</p>


Rwanda allocates $7mn towards consumables to boost hands-on skills

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<p>The province of KwaZulu-Natal is known for its robust tourism sector. In 2020, Covid-19 dealt a blow to the sector; and the challenges have not ended. With KwaZulu-Natal being the epicentre of the unrest we saw two weeks ago, confidence in the industry has been impacted. Phindile Makwakwa, Acting CEO at Tourism KwaZulu-Natal joins CNBC Africa for more.</p>


How KwaZulu-Natal plans to bring back tourism hit hard by Covid-19 and violent riots

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<p>Tanzania is currently occupied by many banks with a bunch of them running tiny operations. The latest report by Ernst &amp; Young Tanzania indicates that at least eight banks are in the process of merging as a result. Stanley Bijura, EY Tanzania’s Senior Manager for Strategy and Transaction spoke to CNBC Africa for more.</p>


Ernest & Young: Why Tanzania’s banking sector is ripe for consolidation

Ernst & Young: Why Tanzania’s banking sector is ripe for consolidation

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<p>A United Nations backed platform aims to reach 20 million Nigerian youths in 10 years with opportunities that range from education, employment and entrepreneurship. Peter Hawkins, UNICEF Representative for Nigeria joins CNBC Africa for more.</p>


UNICEF takes on Nigeria’s jobs & education challenge with GenU initiative


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/mango-4450491_1920-820x547.jpg" alt="" class="wp-image-410512" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/mango-4450491_1920-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/mango-4450491_1920-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/mango-4450491_1920-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/mango-4450491_1920-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/mango-4450491_1920-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/mango-4450491_1920.jpg 1920w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption> Mango Airlines<br>Image by Nel Botha from Pixabay</figcaption></figure>



<p>JOHANNESBURG, July 26 (Reuters) &#8211; South African Airways (SAA) subsidiary Mango Airlines will enter a local form of bankruptcy protection known as business rescue, SAA&#8217;s interim chief executive Thomas Kgokolo told eNCA television on Monday.</p>



<p>The budget carrier is the fourth South African airline to be placed under business rescue since late 2019, with South African Express placed under provisional liquidation after rescue efforts failed.</p>



<p>SAA, which itself exited business rescue in April, and Mango are among a handful of South African companies that have relied on government bailouts since before the COVID-19 pandemic, placing the national budget under additional strain.</p>



<h3 class="wp-block-heading" id="h-read-more-south-african-airways-creditors-approve-rescue-plan">Read more: <a href="https://www.cnbcafrica.com/2020/south-african-airways-creditors-approve-rescue-plan/">South African Airways creditors approve rescue plan</a></h3>



<p>&#8220;What we can say is that the board and shareholders have agreed that Mango will go into business rescue,&#8221; Kgokolo told eNCA.</p>



<p>&#8220;We are currently in consultation with our key stakeholders in terms of how we can manage that particular process.&#8221;</p>



<p>The South African Cabin Crew Association, The Mango Pilots Association and the National Union of Metalworkers South Africa said the process was instigated after they filed an application on Monday to place Mango Airlines under business rescue.</p>



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2020/south-africa-has-not-committed-to-fund-saa-rescue-plan-finance-minister-says/">South Africa has not committed to fund SAA rescue plan, finance minister says</a></h3>



<p>&#8220;We have no choice as workers at Mango but to unite and to fight with a common vision to save jobs and to fight for the survival of another state-owned entity,&#8221; the unions said in a joint statement.</p>



<p>Mango Airlines is in a dire financial position despite the South African parliament having approved a special allocation of 2.7 billion rand ($182.3 million) for SAA subsidiaries.</p>



<p>In April Mango briefly halted flights because of outstanding payments to Airports Company South Africa and has not paid workers salaries for more than two months. </p>



<p>($1 = 14.8119 rand) </p>



<p>(Reporting by Olivia Kumwenda-Mtambo and Nqobile Dludla Editing by Louise Heavens and David Goodman)</p>


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South Africa’s Mango Airlines to enter business rescue


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/50782991392_4feddee788_k-820x547.jpg" alt="" class="wp-image-410497" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/50782991392_4feddee788_k-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/50782991392_4feddee788_k-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/50782991392_4feddee788_k-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/50782991392_4feddee788_k-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/50782991392_4feddee788_k-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/50782991392_4feddee788_k.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>A health worker preparing to extract a dose of vaccine from a vial.<br>Photo: via Flickr</figcaption></figure>



<p>JOHANNESBURG, July 26 (Reuters) &#8211; Major sub-Saharan African central banks are expected to keep interest rates on hold this week as the region&#8217;s recovery lags the rest of the world due to much slower COVID-19 vaccination rollouts, a Reuters poll found on Monday.</p>



<p>In a poll conducted last week, central banks in Ghana, Kenya and Nigeria were forecast to keep benchmark rates unchanged at 13.5%, 7.0% and 11.5%, respectively, like continental peer South Africa did just days ago.</p>



<p>&#8220;The Bank of Ghana already surprised with its late-cycle 100 basis points cut in May so will not need to ease again so soon,&#8221; said Razia Khan, head of Africa macro research at Standard Chartered.</p>



<p>&#8220;In Kenya, monetary policy remains accommodative as IMF-led fiscal consolidation is underway. In Nigeria, although inflation has started to decelerate year-on-year, it remains high – there is not any room to cut,&#8221; added Khan.</p>



<p>The poll also showed the region&#8217;s growth rate was expected to recover to 3.8% this year and 3.9% next year, from a World Bank estimate of a 2.4% contraction last year.</p>



<h3 class="wp-block-heading" id="h-read-more-africa-still-lags-the-rest-of-the-world-in-generating-new-scientific-knowledge-this-is-how-to-fix-it">Read more: <a href="https://www.cnbcafrica.com/2018/africa-lags-world-in-science/">Africa still lags the rest of the world in generating new scientific knowledge, this is how to fix it…</a></h3>



<p>However, the gap between forecasts was wide: one analyst expected no growth at all due to the uncertainty of the pandemic and slow vaccine rollouts.</p>



<p>Africa&#8217;s much younger population has meant the virus has been less deadly on the continent compared with other parts of the world although virus mutations &#8211; especially Delta &#8211; threaten to torpedo local economic recoveries.</p>



<p>The sub-Saharan region is in a rising second wave and a darkening outlook, Goldman Sachs analysts wrote in a note.</p>



<p>&#8220;Our findings imply that the spread of COVID-19 in SSA is higher than measured and likely to continue. The tools available to fight the disease are limited, with strict lockdowns too costly and the vaccination schedule light and slow,&#8221; they wrote.</p>



<p>&#8220;Together, this points to the African recovery lagging the global one, through multiple channels: comparatively light, but still costly domestic lockdowns would restrict the services industry, a key source of growth in recent years, and tourism in particular would continue to suffer.&#8221;</p>



<p>Read more: <a href="https://www.cnbcafrica.com/2021/nigerian-growth-lags-africa-poverty-rising-says-world-bank/">Nigerian growth lags Africa, poverty rising, says World Bank</a></p>



<p>The usually strong tourism performance of east Africa&#8217;s biggest economy, Kenya, is very much in question as the services sector has not yet shaken off the impact from COVID-19.</p>



<p>Africa, battling a third wave of infections, has administered just 60 million vaccine doses in a population of 1.3 billion due to restrictions on shipments from vaccine producing nations like India.</p>



<p><a href="https://www.cnbcafrica.com/2021/pfizer-biontech-strike-south-africa-covid-19-manufacturing-deal-with-biovac/">Pfizer and BioNTech struck a deal for South Africa&#8217;s Biovac Institute</a> on Wednesday to help manufacture around 100 million doses a year of their COVID-19 vaccine for the African Union.</p>



<p>An African Union special envoy on Thursday said global pharmaceutical firms should license production of COVID-19 vaccines in Africa rather than just do piecemeal contract deals.</p>



<p>Capital Economics analysts noted the upshot is that containment measures will probably have to stay in place for some time, holding back economic recoveries as policymakers may have to contend with further virus flare-ups.</p>



<p>(Reporting and polling by Vuyani Ndaba; Editing by SImon Cameron-Moore)</p>


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Key African rates to hold steady as vaccination lags restrain recovery

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<p>Economic transformation has always been at the centre of Africa&#8217;s development agenda, but progress is still slow because most countries are working in Isolation. This is according to the latest report from the African Center for Economic Transformation. So, how can the AfCFTA foster economic transformation on the continent? CNBC Africa spoke with the Senior Director of Research and Policy Engagements at ACET, Edward Brown for more&#8230;.</p>


How can the AfCFTA foster economic transformation in Africa?


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="532" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/SB2IUNPQ2ZKXDERTZ7Y5SB2LQA-820x532.jpg" alt="" class="wp-image-410492" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/SB2IUNPQ2ZKXDERTZ7Y5SB2LQA-820x532.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/SB2IUNPQ2ZKXDERTZ7Y5SB2LQA-300x195.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/SB2IUNPQ2ZKXDERTZ7Y5SB2LQA-123x80.jpg 123w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/SB2IUNPQ2ZKXDERTZ7Y5SB2LQA-768x498.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/SB2IUNPQ2ZKXDERTZ7Y5SB2LQA-1536x996.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/SB2IUNPQ2ZKXDERTZ7Y5SB2LQA.jpg 1920w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>A healthcare worker receives the Johnson and Johnson coronavirus disease (COVID-19) vaccination at Khayelitsha Hospital near Cape Town, South Africa, February 17, 2021. REUTERS/Mike Hutchings/File Photo</figcaption></figure>



<p>JOHANNESBURG, July 26 (Reuters) &#8211; South Africa&#8217;s Aspen Pharmacare will <a href="https://www.cnbcafrica.com/2021/jj-to-send-2-million-covid-19-vaccine-doses-to-south-africa-by-end-june-president-ramaphosa/">supply the first batch of Johnson &amp; Johnson COVID-19 vaccine</a> to the country from July 26, the drugmaker said on Monday.</p>



<p>It will be the first set of vaccines to be manufactured in the country from active pharmaceutical ingredients (API) &#8211; substances used to make the final drug product &#8211; sourced from Europe, Aspen said.</p>



<p>South Africa&#8217;s vaccination drive suffered a major setback in April after <a href="https://www.cnbcafrica.com/2021/sa-temporarily-halts-rollout-of-johnson-johnson-vaccine/">U.S. Federal Drug Administration halted production of J&amp;J vaccines</a> at a plant in Baltimore run by Emergent Biosolutions Inc after it was found to be contaminated.</p>



<p>Aspen, which has been contracted by J&amp;J to manufacture the vaccines in South Africa in a process called &#8216;fill and finish&#8217;, had been sourcing APIs from the Baltimore plant and was asked to destroy 2 million doses as part of the finding of the FDA.</p>



<p>The <a href="https://www.cnbcafrica.com/2021/covax-aims-to-deliver-520-mln-vaccine-doses-to-africa-this-year-2/">supplies will also be distributed to other African countries</a> under the African Vaccine Acquisition Task Team under which J&amp;J has committed to supply 220 million doses of the single shot vaccine, Aspen said.</p>



<p>Africa&#8217;s dependence on imports of COVID-19 vaccine has left it vulnerable to repeated waves of the coronavirus, raising demands for vaccine production facilities in the continent.</p>



<p>It has administered just 60 million vaccine doses in a population of 1.3 billion due to restrictions on shipments from vaccine producing nations.</p>



<p><a href="https://www.cnbcafrica.com/2021/pfizer-biontech-strike-south-africa-covid-19-manufacturing-deal-with-biovac/">South Africa&#8217;s Biovac Institute struck a deal with Pfizer</a> last week for a &#8220;fill and finish&#8221; arrangement to produce 100 million vaccines by 2022-23.</p>



<p>&#8220;Supply for Africa and South Africa is particularly rewarding, given the current global inequality in accessing vaccines,&#8221; Stephen Saad, chief executive of Aspen said in a statement. &#8220;This represents a big step forward in ensuring that Africa can address its healthcare priorities.&#8221; </p>



<p>(Reporting by Promit Mukherjee Editing by Tomasz Janowski)</p>


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Aspen to start J&J COVID-19 vaccine supplies to South Africa from Monday


<p>ACCRA, July 25 (Reuters) &#8211; Ghana hopes to receive over 18 million doses of COVID-19 vaccines before October as it struggles to contain a third wave of infections, President Nana Akufo-Addo said in a speech on Sunday.</p>



<p>Cases of COVID-19 are rising fast in parts of West Africa, in part due to the arrival of the Delta coronavirus variant which is considered more transmissible than other variants.</p>



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<h3 class="wp-block-heading" id="h-unpacking-ghana-s-economic-recovery-vaccination-strategy">Unpacking Ghana’s economic recovery &amp; vaccination strategy</h3>


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<p>The increase has provided a conundrum for African countries, most of which have escaped the levels of infection and serious illness seen in other regions. Many are reluctant to enter lockdown because of the impact on the economy but at the same time have been unable to procure vaccines at the pace of richer countries.</p>



<p>&#8220;Our nation is experiencing a third wave of COVID-19 infections,&#8221; Akufo-Addo said. &#8220;These increased infections have largely been driven by the Delta variant.&#8221;</p>



<p>Over 101,000 people in Ghana have caught coronavirus and over 800 have died since the pandemic began.</p>



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2021/covax-aims-to-deliver-520-mln-vaccine-doses-to-africa-this-year-2/">COVAX aims to deliver 520 mln vaccine doses to Africa this year</a></h3>



<p>To combat a rise in infections, Ghana&#8217;s government is in the process of buying 17 million Johnson &amp; Johnson vaccines through the African Medical Supplies Platform in the third quarter of this year, the president said. This would be supplemented by 1 million doses of the Pfizer-BioNTech vaccine from the United States, nearly 230,000 doses of the Pfizer vaccine from the African Union and 249,000 doses of the AstraZeneca vaccine from the United Kingdom in the same period.</p>



<p>Ghana is doing relatively well compared to many of its West African counterparts, with nearly 1.3 million vaccine doses administered. But it has fallen behind its goal of acquiring 17.6 million doses by the end of June due in part to a halt in deliveries from India under the vaccine-sharing <a href="https://www.cnbcafrica.com/2021/ghana-kicks-off-coronavirus-vaccination-campaign-with-covax-shots/">COVAX scheme</a>.</p>



<p>Akufo-Addo called for tighter enforcement of existing restrictions, including wearing masks in public.</p>



<p>&#8220;We cannot afford to return to the days of partial lockdowns, which brought considerable hardships and difficulties,&#8221; he said. </p>



<p>(Reporting By Christian Akorlie, Writing by Edward McAllister Editing by Jonathan Oatis)</p>


Pfizer-BioNTech_COVID-19_vaccine_2020_D

Ghana aims to receive 18 million COVID shots by October


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="561" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/32950016298_bbe521e8bf_k-820x561.jpg" alt="" class="wp-image-409179" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/32950016298_bbe521e8bf_k-820x561.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/32950016298_bbe521e8bf_k-300x205.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/32950016298_bbe521e8bf_k-117x80.jpg 117w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/32950016298_bbe521e8bf_k-768x526.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/32950016298_bbe521e8bf_k-1536x1052.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/32950016298_bbe521e8bf_k.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>President Cyril Ramaphosa attends Basic Education Lekgotla, 21 Jan
President Cyril Ramaphosa addresses the 3rd Basic Education Lekgotla at Birchwood Hotel in Boksburg. (Photo: GCIS)</figcaption></figure>



<p>JOHANNESBURG, July 25 (Reuters) &#8211; South Africa on Sunday lifted restrictions on the sale of alcohol on weekdays and the movement of people between provinces as President Cyril Ramaphosa said a third wave of the coronavirus may have peaked.</p>



<p>Africa&#8217;s most industrialised country, which accounts for over a third of total COVID-19 infections and 40% of deaths related to the disease on the continent, had seen a severe third wave of infections over the past month spurred by the <a href="https://www.cnbcafrica.com/2021/what-you-need-to-know-about-the-coronavirus-right-now-6/">Delta variant</a> but case numbers began to decline in recent days.</p>



<p>&#8220;The latest figures suggest that we have largely passed the peak of the third wave of infections,&#8221; Ramaphosa said in a televised speech to the nation, but cautioned that some provinces were still seeing a rise in cases.</p>



<p>He moved the country down to an &#8216;adjusted level 3&#8217; of coronavirus restrictions from immediate effect, under a five-level system with five being the highest.</p>



<p>Under level 3, people can travel between provinces for leisure. Ramaphosa also announced that a night-time curfew would start an hour later at 10 p.m. It would still finish at 4 a.m.</p>



<p>The sale of alcohol from retail outlets will be permitted from Monday to Thursday and restaurants will also be allowed to serve liquor, he said.</p>



<h3 class="wp-block-heading" id="h-read-more-south-africa-extends-tight-covid-19-restrictions-for-another-14-days">Read more: <a href="https://www.cnbcafrica.com/2021/south-africa-extends-tight-covid-19-restrictions-for-another-14-days/">South Africa extends tight COVID-19 restrictions for another 14 days</a></h3>



<p>However, restrictions imposed on indoor and outdoor gatherings would be maintained.</p>



<p>Infection rates, after hitting a peak of about 26,500 cases a day in early July, have declined to an average of around 12,000 per day in the last seven days, with the worst hit province Gauteng, home to South Africa&#8217;s biggest city Johannesburg, reporting a steep fall in new cases.</p>



<p>The government would also open up COVID-19 vaccinations to people in the 18-to-34 age group from Sept. 1, Ramaphosa said.</p>



<p>South Africa will get 31 million doses of the Pfizer Inc and Johnson &amp; Johnson vaccines over the next three months that will ensure the country has sufficient vaccines for the rest of the year, he said.</p>



<p>South Africa has so far completely <a href="https://www.cnbcafrica.com/2021/south-africa-targets-35-mln-people-vaccinated-against-covid-19-by-christmas/">vaccinated only 4%</a> of its population of roughly 60 million people.</p>



<p>Ramaphosa said his government will offer 350 rand ($23.58)monthly relief under a grant to those affected by COVID-19 restrictions and by a week of <a href="https://www.cnbcafrica.com/2021/south-africa-violence-looting-ebbs-but-death-toll-up-to-117/">violence and arson</a>, one of the worst since the end of white-minority rule in South Africa. </p>



<p>($1 = 14.8428 rand) </p>



<p>(Reporting by Promit Mukherjee; Editing by Alex Richardson, Susan Fenton and Jonathan Oatis)</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="President Cyril Ramaphosa&#039;s address to the nation on South Africa&#039;s COVID-19 response" width="500" height="281" src="https://www.youtube.com/embed/LaoHbbdgSRM?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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32950016298_bbe521e8bf_k

South Africa lifts some coronavirus restrictions after cases drop


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ.jpeg" alt="" class="wp-image-410239" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>A bitcoin sign with a graph pictured in the background.
STR | NurPhoto via Getty Images</figcaption></figure>



<p><a href="https://www.cnbcafrica.com/quotes/btc=x/">Bitcoin&nbsp;</a>surged Sunday evening topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off.</p>



<p>The cryptocurrency was trading at around $38,059.84 at 11:05 p.m. ET, according to CoinDesk data, up nearly 11% from the same time 24-hours prior. Bitcoin had previously hit a 24-hour high of $39,544.29, the highest level since June 16.</p>



<p>Bitcoin’s rally lifted other cryptocurrencies with&nbsp;<a href="https://www.cnbcafrica.com/quotes/eth=x/">ether&nbsp;</a>up 5.9% above $2,299.55. The entire cryptocurrency market added over $114 billion in value in 24 hours as of 11:05 p.m. ET, according to data from Coinmarketcap.com.</p>



<p>The rally comes after<a href="https://www.cnbcafrica.com/2021/catch-these-key-levels-for-bitcoin-next-after-its-break-below-30000-traders-say/">&nbsp;bitcoin recently fell below $30,000</a>&nbsp;after a global sell-off in stocks, sparking fears that it could plunge even further.</p>



<p>“I think we saw an accumulation period around 29-30K, indicating bullishness and a potential move towards $40K for Bitcoin,” said Vijay Ayyar, head of business development at cryptocurrency exchange Luno.</p>



<h2 class="wp-block-heading" id="h-musk-dorsey-wood-in-focus"><a></a>Musk, Dorsey, Wood in focus</h2>



<p>Twitter CEO&nbsp;<a href="https://www.cnbc.com/2021/07/21/jack-dorsey-hopes-bitcoin-will-help-bring-about-world-peace.html">Jack </a><a href="https://www.cnbcafrica.com/2021/ethereum-price-rises-after-elon-musk-confirms-he-owns-the-cryptocurrency/">Dorsey</a>, Tesla CEO Elon Musk and ARK Invest CEO Cathie Wood all recently spoke during a closely watched bitcoin conference called “The B-Word.”</p>



<p>Musk said that Tesla would&nbsp;<a href="https://www.cnbc.com/2021/07/21/elon-musk-says-tesla-will-likely-start-accepting-bitcoin-again.html">likely start accepting bitcoin for vehicle purchases again</a>&nbsp;as a greater share of bitcoin mining switches to renewable energy. In May, Tesla suspended vehicle purchases using the cryptocurrency out of concern over the&nbsp;<a href="https://www.cnbcafrica.com/2021/as-much-as-365-billion-wiped-off-cryptocurrency-market-after-tesla-stops-car-purchases-with-bitcoin/">“rapidly increasing use of fossil fuels for bitcoin mining.”</a></p>



<p>Bitcoin mining is the energy-intensive process of creating new coins, which involves solving complex math problems. The computational power required to do so also consumes a lot of energy.</p>



<p>“The Chinese trading day has opened up, and the Elon/Jack/Cathie talk was super bullish,” said Alex Brammer of Luxor Mining, a cryptocurrency pool built for advanced miners.</p>



<p>There have been other bullish headlines for bitcoin. E-commerce giant Amazon is&nbsp;<a href="https://www.cnbc.com/2021/07/23/amazon-is-hiring-a-digital-currency-and-blockchain-expert.html">looking to add a digital currency and blockchain expert to its payments team</a>, suggesting it could be taking a closer look at bitcoin and other cryptocurrencies. An Amazon spokesperson said that the company is “inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon.”</p>



<p>These bullish moves have also contributed to a so-called “short squeeze,” according to bitcoin mining engineer&nbsp;Brandon Arvanaghi.</p>



<p>Investors who short bitcoin are betting that the price will fall further. But if the price goes higher, these investors look to cut losses and exit their short positions, which helps to push the price even higher.</p>



<p>“I think the extent of the jump was probably driven by over-leverage shorts,” Luno’s Ayyar said.</p>



<p>Meanwhile, some of the issues that have weighed on bitcoin’s price have begun to clear up. Over the past few months,&nbsp;<a href="https://www.cnbcafrica.com/2021/chinas-renewed-crypto-crackdown-wipes-nearly-300-billion-off-the-market-as-bitcoin-slides/">China has renewed its crackdown on cryptocurrencies</a>&nbsp;targeting mining and trading. And&nbsp;<a href="https://www.cnbc.com/2021/07/20/bitcoin-mining-environmental-impact-new-study.html">concerns over the carbon footprint of bitcoin mining are starting to wane</a>.</p>



<p>Luxor Mining’s Brammer said the uncertainty around the environmental impact of mining and the Chinese regulatory concerns have “worn off.”</p>




bitcoin

Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market

<p><iframe src="https://www.youtube.com/embed/Zh-jX8AwpZI" width="100%" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>The U.S. dollar remains the world’s de facto monetary reserve, but with China going full speed ahead with its digital yuan, that could be in jeopardy. Researchers are digging into regulated online money called Central Bank Digital Currencies, or CBDCs, and what that could look like in the U.S.</p>
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Newsletter

COVID-19: How Africa can chart the path to recovery

South Africa port operations halted and workers reportedly put on leave after major cyberattack

Nigeria’s planned digital currency: Who benefits?

Ramaphosa unveils social and economic relief measures in wake of riots

South Africa’s unrest likely to shave 0.7% off 2021 growth, says S&P

Rwanda allocates $7mn towards consumables to boost hands-on skills

How KwaZulu-Natal plans to bring back tourism hit hard by Covid-19 and violent riots

Ernst & Young: Why Tanzania’s banking sector is ripe for consolidation

UNICEF takes on Nigeria’s jobs & education challenge with GenU initiative

South Africa’s Mango Airlines to enter business rescue

Key African rates to hold steady as vaccination lags restrain recovery

How can the AfCFTA foster economic transformation in Africa?

Aspen to start J&J COVID-19 vaccine supplies to South Africa from Monday

Ghana aims to receive 18 million COVID shots by October

South Africa lifts some coronavirus restrictions after cases drop

Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market

Could China Dethrone The U.S. Dollar With A Digital Yuan?

News Tips

Advertise With Us

Newsletter

COVID-19: How Africa can chart the path to recovery

South Africa port operations halted and workers reportedly put on leave after major cyberattack

Nigeria’s planned digital currency: Who benefits?

Ramaphosa unveils social and economic relief measures in wake of riots

South Africa’s unrest likely to shave 0.7% off 2021 growth, says S&P

Rwanda allocates $7mn towards consumables to boost hands-on skills

How KwaZulu-Natal plans to bring back tourism hit hard by Covid-19 and violent riots

Ernst & Young: Why Tanzania’s banking sector is ripe for consolidation

UNICEF takes on Nigeria’s jobs & education challenge with GenU initiative

South Africa’s Mango Airlines to enter business rescue

Key African rates to hold steady as vaccination lags restrain recovery

How can the AfCFTA foster economic transformation in Africa?

Aspen to start J&J COVID-19 vaccine supplies to South Africa from Monday

Ghana aims to receive 18 million COVID shots by October

South Africa lifts some coronavirus restrictions after cases drop

Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market

Could China Dethrone The U.S. Dollar With A Digital Yuan?

News Tips

Advertise With Us

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