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<p>Italian oil major, ENI, has announced a significant oil discovery offshore Ghana, which is sited on the Eban exploration prospect CTP block 4. Meanwhile in Nigeria, the Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria will start exporting petrol in 2023. Sam Chidoka, Managing Director of Kairos Capital joins CNBC Africa for more.</p>


ENI makes significant oil and gas discovery offshore Ghana

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<p>The tourism and hospitality industries have been among the hardest hit by measures to control the spread of the COVID-19 pandemic. Fighting for survival through yet another Level 4 lockdown, their plight has been worsened by insurance companies stalling on Business Interruption insurance claims. What is the hold up? Dr Roelof Botha, Economic Advisor to Optimum Investment Group joins CNBC Africa for more.</p>


SA insurers batting to cope with COVID-19 business interruption claims

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<p>Rwanda&#8217;s e-mobility journey continues to pick up steam with the latest launch by SAFI Link and EVPLUGIN of electric vehicle charging stations in Kigali, CNBC Africa is joined by the CEO of both EV PLugin and safi link, Tony Adesina for more.</p>


EVPLUGIN launches first EV station, sets eyes on Kigali expansion

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<p>If you are thinking of investing in foreign exchange, then you might want to listen closely. The industry has not been untouched by the pandemic, but brokers Infinox says forex has grown in popularity during this time. Joining  CNBC Africa to talk more on these trends is Dany Mawas, Regional Director at Infinox Capital.</p>


Africa sees massive growth in forex trading during COVID-19

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<p>Ethiopia’s Prime Minister Abiy Ahmed yesterday presented the country’s economic outlook to the parliament during which he said the economy is expected to grow by 9 per cent in 2021. However, the Premier said inflation remains a key concern. Inflation rose from 19.8 per cent in May to 24.5 per cent in June this year. Zemedeneh Negatu, Global Chairman at Fairfax joins CNBC Africa for more.</p>


Ethiopia: Rising inflation remains key concern

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<p>Hundreds of protesters took to the streets in Sudan’s capital Khartoum to demand the government’s resignation over the International Monetary Fund-backed economic reforms. The protests erupted a day after the IMF approved a $2.5 billion loan and debt relief deal that will see Sudan’s external debt reduced by about $50 billion. Activist Hajooj Kuka  joins CNBC Africa for more.</p>


IMF-backed economic reforms spark protests in Sudan

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<p>The Chartered Institute of Taxation of Nigeria is working on a policy and strategy document for the taxation of global tech companies in Nigeria. This comes on the heel of the suspension of the operations of social platform, Twitter. Meanwhile, 130 countries have agreed on a minimum 15 per cent global tax rate on large multinational enterprises. Joining CNBC Africa for a focus on Nigeria’s plan to tax global tech companies are; Asiata Agboluaje, Partner for International Tax at Deloitte Nigeria and Chinde Ezomike, Partner for Commercial Practice at Andersen.</p>


Understanding Nigeria’s plan to tax global tech companies

<p>JOHANNESBURG, July 5 (Reuters) &#8211; South Africa has offered civil servants a 1.5% salary increase plus a cash payment in wage negotiations with trade unions, Public Service and Administration Minister Senzo Mchunu said on Monday.</p>
<p>Unions previously said the negotiations had reached a deadlock, after the government initially offered no increase.</p>
<p>The government is trying to contain its wage bill, which accounts for around a third of consolidated spending, to rein in a steep rise in debt that has been exacerbated by the COVID-19 pandemic.</p>
<p>&#8220;The offer is 1.5% which is pensionable and is on the baseline,&#8221; Mchunu told a news conference. &#8220;Secondly, there is a cash gratuity which ranges from 1,220 (rand per month) ($85) to 1,695.&#8221;</p>
<p>The unions had yet to respond to the offer. Mchunu said the government and unions would meet to discuss it on Tuesday.</p>
<p>Angered by the state&#8217;s initial refusal to raise wages, one of the biggest public sector unions, the Public Servants Association (PSA), has balloted its members about a potential strike.</p>
<p>Other unions affiliated with the COSATU federation that is closely aligned with the governing African National Congress have taken a more conciliatory approach, pursuing talks with the government in a bargaining chamber.</p>
<p>At the start of the negotiations in March, unions demanded a wage increase of inflation plus 4% in the 2021/22 fiscal year, as well as better housing payments and a risk allowance because of COVID-19.</p>
<p>Annual inflation was 5.2% in May.</p>
<p>Restraining rising wages is one of the key pillars of the National Treasury&#8217;s fiscal consolidation strategy. Last year the government won a court case over wage increases that it refused to pay.</p>
<p>The PSA has challenged that ruling in a higher court. ($1 = 14.2077 rand) (Reporting by Alexander Winning and Wendell Roelf; Editing by Nick Macfie)</p>
<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html</p>
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South Africa offers civil servants 1.5% pay rise in revised offer

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<p>A report by Stears Data has identified loopholes that are threatening rights to privacy and freedom of expression in Nigeria.</p>


Are Nigeria’s data protection laws adequate?

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<p>We’ve all heard how the only way countries will accelerate growth is through private and public sector partnerships. Well Anglo American has launched something called an Impact Catalyst to better accelerate economic development. Khule Duma, Social Performance Specialist at Anglo American joins CNBC Africa for more.</p>


Anglo American launches Impact Catalyst to help accelerate economic development in Africa

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<p>It&#8217;s been and eventful weekend for the ANC and its formerly president Jacob Zuma has been sentenced to 15 months behind bars for being in contempt of court. Last week Zuma brought a rescission application which the Constitutional Court has agreed to hear. But what are the economic impact of this? Joining CNBC Africa for more is Deon Gouws, Chief Investments Officer at Credo Wealth.</p>


Credo Wealth’s Deon Gouws explains why investors are closely watching the Zuma sentencing saga

<p>JOHANNESBURG, July 3 (Reuters) &#8211; South Africa&#8217;s health minister said on Saturday that authorities had approved China&#8217;s Sinovac COVID-19 vaccine for domestic use, as the country faces a crippling third wave of infections that has paralysed hospitals and brought its death toll to 60,000.</p>
<p>&#8220;I would like to express gratitude to our regulatory authority for their sense of urgency, which included reducing turnaround time to process applications  for registration  of &#8230; (the) COVID-19 vaccine,&#8221; Acting Minister of Health Mamoloko Kubayi said in a statement. (Reporting by Tim Cocks; Editing by Alex Richardson)</p>
<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html</p>
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South Africa approves China’s Sinovac COVID-19 vaccine for domestic use – health ministry

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<p>El Salvador recently played its crypto hand, making bitcoin a legal tender despite the concerns of the International Monetary Fund. The Latin American country wants to partner with legal entities to make El Salvador the Bitcoin ATM manufacturing hub of the Americas.  Eric Grill, CEO of ChainBytes joins CNBC Africa for more.</p>


El Salvador seeks to become America’s bitcoin ATM manufacturing hub

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<p>A new report by multinational consulting firm, KPMG says that Chief Financial Officers of companies operating in Nigeria remain discouraged about the prospects for growth in the economy in the remaining part of 2021, but they remain optimistic about the prospects of growth of their various organizations and industries. The report also identifies foreign exchange availability as the most important stay-awake issue for CFO&#8217;s followed by tax and the Covid-19 pandemic. Tola Adeyemi Partner and Head of Audit Services at KPMG joins CNBC Africa for more.</p>


KPMG: FX

KPMG: FX, tax & COVID-19 most important “stay-awake” issues for Nigerian CFOs

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<p>It’s been a week since protests exploded in the small kingdom of eSwatini as citizens demanded greater freedoms. eSwatini is Africa last absolute monarchy. The army was deployed this week to quell the protests against King Mswati the third&#8217;s iron grip. With many fleeing the kingdom, what are the implications on the economy of eSwatini and its Southern African neighbors? Menzi Ndhlovu, Senior Analyst at Signal Risk joins CNBC Africa for more.</p>


Here’s how the unrest in eSwatini could negatively  impact the Sadc region

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<p>In January 2021, China and other rich countries under the Debt Service Suspension Initiative gave Kenya a six-month debt repayments relief. Now, Kenya is seeking deals to suspend debt service covering the six months to the end of December. Reports coming in reveal that China has frozen disbursements of active loans to Kenyan projects in the wake of differences over Nairobi’s bid to extend debt repayment holiday to December. Ken Gichinga, Chief Economist at Mentoria Economics joins CNBC Africa  for more.</p>


China halts Kenya loans amid debt reprieve bid

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<p>South Africa is in the thick of the third wave of the Covid-19 pandemic with government having tightened the lockdown to alert level 4. The country&#8217;s vaccination programme has been described by many as slow. Joining CNBC Africa for more is Professor Richard Gordon from the South African Medical Research Council and Caryn Fenner, Technical Director at Afrigen Biologics.</p>


Newsletter

ENI makes significant oil and gas discovery offshore Ghana

SA insurers batting to cope with COVID-19 business interruption claims

EVPLUGIN launches first EV station, sets eyes on Kigali expansion

Africa sees massive growth in forex trading during COVID-19

Ethiopia: Rising inflation remains key concern

IMF-backed economic reforms spark protests in Sudan

Understanding Nigeria’s plan to tax global tech companies

South Africa offers civil servants 1.5% pay rise in revised offer

Are Nigeria’s data protection laws adequate?

Anglo American launches Impact Catalyst to help accelerate economic development in Africa

Credo Wealth’s Deon Gouws explains why investors are closely watching the Zuma sentencing saga

South Africa approves China’s Sinovac COVID-19 vaccine for domestic use – health ministry

El Salvador seeks to become America’s bitcoin ATM manufacturing hub

KPMG: FX, tax & COVID-19 most important “stay-awake” issues for Nigerian CFOs

Here’s how the unrest in eSwatini could negatively impact the Sadc region

China halts Kenya loans amid debt reprieve bid

COVID-19 mRNA vaccine technology transfer hub a boost for Africa

News Tips

Advertise With Us

Newsletter

ENI makes significant oil and gas discovery offshore Ghana

SA insurers batting to cope with COVID-19 business interruption claims

EVPLUGIN launches first EV station, sets eyes on Kigali expansion

Africa sees massive growth in forex trading during COVID-19

Ethiopia: Rising inflation remains key concern

IMF-backed economic reforms spark protests in Sudan

Understanding Nigeria’s plan to tax global tech companies

South Africa offers civil servants 1.5% pay rise in revised offer

Are Nigeria’s data protection laws adequate?

Anglo American launches Impact Catalyst to help accelerate economic development in Africa

Credo Wealth’s Deon Gouws explains why investors are closely watching the Zuma sentencing saga

South Africa approves China’s Sinovac COVID-19 vaccine for domestic use – health ministry

El Salvador seeks to become America’s bitcoin ATM manufacturing hub

KPMG: FX, tax & COVID-19 most important “stay-awake” issues for Nigerian CFOs

Here’s how the unrest in eSwatini could negatively impact the Sadc region

China halts Kenya loans amid debt reprieve bid

COVID-19 mRNA vaccine technology transfer hub a boost for Africa

News Tips

Advertise With Us

Newsletters