<p><iframe loading="lazy" src="https://www.youtube.com/embed/bTeqPoPnjx4" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>On this episode of FINTECH.TV, we look the rise of digital financial services in Africa. How do you bank the unbanked and create products for people who have never even had a bank account? We also look at the power of decentralized finances for previously unbanked communities&#8230;.</p>


The Rise of Digital Financial Services in Africa

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>Economic integration creates wealth and limits dependence on imports, it also makes sure that Africa begins to address things like food self-sufficiency. That’s according to Khaled Sherif, the Vice President for Regional Development, Integration and Business at the African Development Bank. While speaking to CNBC Africa&#8217;s Kenneth Igbomor, Khaled said the Annual Meetings of the AfDB will focus on making sure member countries can build back post-Covid-19, and in a way that the nations can recover from the effect of deteriorating commodity prices.</p>


AfDB’s VP Sherif: Economic integration limits dependency on imports

<div style="max-width: 100%;">&nbsp;</div>
<p>&nbsp;</p>
<p>We all know how government’s Health department has arguably been the busiest during the pandemic, but another department that’s also been in trouble is Mineral resources and energy. Among other things, they’ve had to make sure that enough power is generated for Eskom to keep our lights on. Mineral Resources &amp; Energy Minister, Gwede Mantashe joins CNBC Africa to unpack South Africa’s energy plan.</p>


Minister Gwede Mantashe on latest developments in South Africa’s energy sector


<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/antoinette-Seyah-820x547.jpg" alt="" class="wp-image-407711" width="694" height="463" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/antoinette-Seyah-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/antoinette-Seyah-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/antoinette-Seyah-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/antoinette-Seyah-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/antoinette-Seyah.jpg 1024w" sizes="(max-width: 694px) 100vw, 694px" /><figcaption>Deputy Managing Director of the IMF Antoinette Sayeh<br> Photo via Flickr</figcaption></figure>



<p>The board of the International Monetary Fund said on Wednesday it allowed the immediate disbursement of a further $407 million to Kenya after completing its first reviews of two agreements approved in April.</p>



<p>&#8220;The Kenyan authorities continue to demonstrate strong commitment to their fiscal reform agenda during this unprecedented global shock,&#8221; said Antoinette Sayeh, deputy managing director of the IMF.</p>



<p>She said Kenya&#8217;s performance under the arrangements has been &#8220;broadly satisfactory&#8221; and &#8220;sets the basis for a return to durable and inclusive growth.&#8221;</p>



<p>The board approved in April two new 38-month financing arrangements for Kenya valued at $2.34 billion.</p>



<p>(Reporting by Rodrigo Campos Editing by Chris Reese)</p>


antoinette Seyah

IMF board approves further $407 mln disbursement for Kenya

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>The government of Tanzania has officially applied for more than $570 million loan from the International Monetary Fund to help in tackling economic challenges of the Covid-19 pandemic. The IMF has responded with conditions before the disbursement happens. Economic Analyst, Gabriel Mwang&#8217;onda joins CNBC Africa for more.</p>


IMF puts COVID-19 related condition for Tanzania loan


<p>LONDON, June 23 (Reuters) &#8211; The Bank for International Settlements has given its full backing to the development of central bank digital currencies (CBDCs), saying they are needed to modernise finance and ensure &#8216;Big Tech&#8217; does not take control of money.</p>



<p>Dubbed the central bank to the world&#8217;s central banks, the BIS, which is coordinating many of their discussions on digital currencies, set out recommendations on Wednesday on how a CBDC such as a digital dollar, euro, yen or yuan should look.</p>



<p>As part of its upcoming annual report it estimated that at least 56 central banks and monetary authorities, representing around a fifth of the world&#8217;s population, are now looking at digital currencies as commerce shifts online.</p>



<p>&#8220;The train has left the station,&#8221; said Benoit Coeure of the BIS, referring to the move towards central bank digital currencies and its support. &#8220;It is not that we are getting carried away, we are just looking around&#8221;.</p>



<p>The push comes as physical cash use falls globally and authorities look to fend off the threat to their money-printing powers from bitcoin and efforts from &#8216;Big Tech&#8217; such as the Facebook-backed Diem, formerly Libra.</p>



<p>Without CBDCs, digital money would become increasingly dominated by big tech firms, Coeure warned, as they would leverage enormous social media user bases.</p>



<p>&#8220;That is a place where you don&#8217;t want to be, where governments don&#8217;t want to be,&#8221; Coeure said, describing it as a loss of control of sovereign money.</p>



<p>Some countries are already well down the track.</p>



<p>The Bahamas became the first to launch a general purpose CBDC, known as the Sand Dollar, in October. China has a number of ongoing trials and Switzerland and the Bank of France have announced Europe&#8217;s first cross-border experiment.</p>



<p>Coeure&#8217;s BIS colleague Hyun Song Shin said authorities will have to decide whether citizens need digital IDs to use CBDCs or go down a token-based route that many cryptocurrencies use to keep transactions more anonymous.</p>



<p>In the view of the BIS, the ID system would be the &#8220;better way to go&#8221; Shin and Coeure said. One reason being that it would prevent people using digital currencies from countries other than their own such as the safe-haven dollar.</p>



<p>Most experts think fully functioning digital dollars or euros are still at least two years away, but setting global rules around CBDCs is a highly political and heating up.</p>



<p>&#8220;The new trade wars are technology wars,&#8221; Coeure said, stressing CBDCs should not be part of that.</p>



<p>(Reporting by Marc Jones; Editing by Alexander Smith)</p>


30575705500_0f660ad388_k

Central bank digital currencies get full BIS backing

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>A Norwegian businessman says he loves doing business in Africa because he sees investment opportunities he can&#8217;t find in Europe. Martin Soderberg, a Partner at private equity firm, Spear Capital joins for more.</p>


Spear Capital’s Soderberg on what makes Africa an attractive investment destination

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>South African consumer price inflation came in at 5.2 per cent in May, up from 4.4per cent in April. The Consumer price index increased by 0.1 per cent month-on-month.</p>


SA inflation reaches 30-month high in May

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>The National Bank of Rwanda has said that it is studying the use of central bank digital currencies with plans to issue its own electronic currency. What is not known is whether this is a decision that will materialize anytime soon. Norbert Haguma, Chairman of Rwanda Blockchain Association joins CNBC Africa for more.</p>


National Bank of Rwanda researching use of digital currency

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>Africa’s existing vaccine market, estimated at $1.3 billion, is expected to reach a value of up to $2.35 billion by 2030, supported by population growth, expanded vaccination and new products being required. Nonetheless, the African Vaccine Manufacturing Initiative estimates that the continent can currently produce less than one per cent of its vaccine needs. JP Fabri, Founding Partner, Seed Consultancy joins CNBC Africa for more.</p>


Understanding the economics of COVID-19 vaccination in Africa

<div style="max-width: 100%;">&nbsp;</div>
<p>&nbsp;</p>
<p>Sanlam has conducted its 40th Benchmark Survey. And the latest research has shown the deep impact of Covid-19 on the retirement industry – with suspended contributions, fewer fund members, and a greater focus on wellness. Joining CNBC Africa to discuss the key findings is Avishal SeetHeh, Head of Sanlam Umbrella Solutions.</p>


Avish22

Sanlam on how COVID-19 has impacted the retirement industry

<div style="max-width: 100%;">&nbsp;</div>
<p>&nbsp;</p>
<p>The Food and Agriculture Organisation has raised alarm over what it describes as worsening food security in Nigeria. In a separate report, the World bank says seven million Nigerians were pushed below the poverty line in 2020 while President Muhammadu Buhari has stated that poverty and unemployment has fueled Boko Haram insurgency in the country. Joining CNBC Africa to assess the state of food security in Nigeria is Kola Masha, Managing Director at Babban Gona.</p>


Mash22

How rising insecurity threatens food security in Nigeria

<p>ABIDJAN, June 22 (Reuters) &#8211; Ivory Coast has issued 150 billion CFA francs ($273.69 million) in domestic bonds in an auction running until June 28, a lead manager of the sale at NSIA bank told Reuters on Tuesday.</p>
<p>The auction opened on June 15 and includes 130 billion CFA francs of seven-year bonds at a rate of 5.80% and 20 billion CFA francs of 10-year bonds at 5.90%.</p>
<p>The bonds are being sold in units of 10,000 CFA francs across West Africa&#8217;s currency zone and will be listed on the West African bourse. ($1 = 548.0600 CFA francs) (Reporting by Loucoumane Coulibaly Writing by Alessandra Prentice)</p>
<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html</p>
<p>&nbsp;</p>
<p>&nbsp;</p>


Ivory Coast issues $274 mln in domestic bonds

<p><iframe loading="lazy" src="https://www.youtube.com/embed/h-kqUYjnpUs" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>The conversation around the investment opportunities in Africa is an ongoing one with businesses trying to identify new innovative solutions to challenges like unemployment and energy security.  Nersan Naidoo, CEO of Sanlam Investments joins CNBC Africa for more&#8230;.</p>


Sanlam’s Naidoo explains why  sustainability is key to Africa’s solution based investment plans


<p>June 22 (Reuters) &#8211; Here&#8217;s what you need to know about the coronavirus right now:</p>



<p>Philippines&#8217; Duterte threatens jail for refusing vaccination</p>



<p>President Rodrigo Duterte threatened to jail people who refuse to be vaccinated against the coronavirus as the Philippines battles one of Asia&#8217;s worst outbreaks, with over 1.3 million cases and more than 23,000 deaths.</p>



<p>&#8220;You choose, vaccine or I will have you jailed,&#8221; Duterte said in a televised address on Monday following reports of low turnouts at several vaccination sites in the capital Manila.</p>



<p>Duterte&#8217;s remarks contradict those of his health officials who have said that while people were urged to receive the COVID-19 vaccine, it was voluntary.</p>



<p>Olympics-Tokyo residents criticise alcohol sales plan</p>



<p>Olympic organisers will allow the sale of alcohol to Tokyo 2020 spectators, Kyodo News reported on Tuesday, drawing criticism as residents of the capital grapple with curbs on bars to prevent the spread of the coronavirus.</p>



<p>Alcohol will be served at Olympic venues at limited times, Kyodo reported, citing anonymous sources, a decision that follows the approval on Monday of up to 10,000 domestic spectators at venues at next month&#8217;s delayed Games.</p>



<p>Social gatherings with drinking have been a target of government action as they are seen as driving infections by encouraging loud speaking, close contact and lingering at bars.</p>



<p>Australia&#8217;s New South Wales extends mask mandate for Sydney</p>



<p>Australia&#8217;s most populous state, New South Wales (NSW), on Tuesday reported its biggest rise in new locally acquired COVID-19 cases in nearly a week, prompting authorities to extend a mask mandate in Sydney for a week.</p>



<p>Ten new locally acquired cases were reported in NSW on Tuesday, as officials fight to contain a latest cluster of the highly infectious Delta virus variant.</p>



<p>U.S. to ship millions of COVID-19 shots to Latin America, Africa, Asia</p>



<p>The White House laid out a plan on Monday to share 55 million U.S. COVID-19 vaccine doses globally, with roughly 75% of the doses allocated to Latin America and the Caribbean, Asia and Africa.</p>



<p>The plan fulfills President Joe Biden&#8217;s commitment to share 80 million U.S.-made vaccines with countries around the world. The president sketched out his priorities for the first 25 million doses from that pledge earlier this month.</p>



<p>The United States has come under pressure to share more of its vaccine supply with countries that are still struggling with the deadly virus and its variants.</p>



<p>Turkey to further ease coronavirus restrictions from July</p>



<p>Turkey will further relax restrictions imposed to curb the spread of COVID-19 from next month, President Tayyip Erdogan said on Monday after the number of daily coronavirus cases in the country fell to around 5,000.</p>



<p>Lockdowns that had been imposed on Sundays and curfews from 1900 GMT on weekdays would be lifted from July 1, Erdogan said after a government cabinet meeting.</p>



<p>(Compiled by Tom Hogue; Editing by Stephen Coates)</p>


corona-5174671_1920

What you need to know about the coronavirus right now


<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Rad335c1344882056c86883f66251836e-2-820x633.png" alt="" class="wp-image-407463" width="399" height="308" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Rad335c1344882056c86883f66251836e-2-820x633.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Rad335c1344882056c86883f66251836e-2-300x232.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Rad335c1344882056c86883f66251836e-2-104x80.png 104w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Rad335c1344882056c86883f66251836e-2-768x593.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Rad335c1344882056c86883f66251836e-2.png 1280w" sizes="(max-width: 399px) 100vw, 399px" /><figcaption>The World Bank Logo<br> Photo via Wikipedia</figcaption></figure>



<p>The World Bank and the African Union said on Monday they would work together to accelerate COVID-19 vaccinations for up to 400 million people across Africa, bolstering efforts to vaccinate 60% of the continent&#8217;s population by 2022.</p>



<p>In a joint statement, the World Bank and the African Union said their agreement would provide needed resources to the Africa Vaccine Acquisition Task Team (AVATT) initiative, allowing countries to purchase and deploy more vaccines.</p>



<p>The initiative will complement efforts already underway by the COVAX vaccine-sharing program, which is co-run by the World Health Organization. A WHO official on Monday said more than half of poorer countries receiving doses via COVAX do not have enough supplies to continue.</p>



<p>The new World Bank initiative comes amid shortages caused in part by manufacturing delays and Indian supply disruptions, with cases and deaths rising as a third wave of infections sweeps across Africa.</p>



<p>&#8220;The World Bank is very pleased to support African countries through this partnership with the African Union to quickly provide hundreds of millions of doses,&#8221; World Bank President David Malpass said in a statement. &#8220;Countries urgently need more pathways for acquiring vaccines that match their needs and have early delivery schedules.”</p>



<p>Strive Masiyiwa, African Union special envoy, said the collaboration between the World Bank and African institutions such as the Africa Import Export Bank and the Africa Centre for Disease Control would provide the capacity to vaccinate at least 400 million people, or 30% of the total African population.</p>



<p>No details were immediately available on the cost of the initiative, but the funds will come from the $12 billion the World Bank has made available for vaccine financing and distribution. The Bank said it expects to be supporting vaccination efforts in 50 countries, two thirds of which are in Africa, by the end of June. </p>



<p>(Reporting by Andrea Shalal Editing by Sonya Hepinstall)</p>


Rad335c1344882056c86883f66251836e

World Bank, African Union join forces to expand access to COVID-19 vaccines

<div style="max-width: 100%;"></div>
<p><script src="//players.brightcove.net/1571595826001/c0AOssA7_default/index.min.js">
</script></p>
<p>Yesterday, Anchor Capital launched a four-part webinar series, giving an overview of what investors can and should buy offshore &#8211; from developed to emerging markets. Nolan Wapenaar, Co-Chief Investment Officer at Anchor Capital joins CNBC Africa for more.</p>


Newsletter

The Rise of Digital Financial Services in Africa

AfDB’s VP Sherif: Economic integration limits dependency on imports

Minister Gwede Mantashe on latest developments in South Africa’s energy sector

IMF board approves further $407 mln disbursement for Kenya

IMF puts COVID-19 related condition for Tanzania loan

Central bank digital currencies get full BIS backing

Spear Capital’s Soderberg on what makes Africa an attractive investment destination

SA inflation reaches 30-month high in May

National Bank of Rwanda researching use of digital currency

Understanding the economics of COVID-19 vaccination in Africa

Sanlam on how COVID-19 has impacted the retirement industry

How rising insecurity threatens food security in Nigeria

Ivory Coast issues $274 mln in domestic bonds

Sanlam’s Naidoo explains why sustainability is key to Africa’s solution based investment plans

What you need to know about the coronavirus right now

World Bank, African Union join forces to expand access to COVID-19 vaccines

Anchor Capital: Where to invest offshore

News Tips

Advertise With Us

Newsletter

The Rise of Digital Financial Services in Africa

AfDB’s VP Sherif: Economic integration limits dependency on imports

Minister Gwede Mantashe on latest developments in South Africa’s energy sector

IMF board approves further $407 mln disbursement for Kenya

IMF puts COVID-19 related condition for Tanzania loan

Central bank digital currencies get full BIS backing

Spear Capital’s Soderberg on what makes Africa an attractive investment destination

SA inflation reaches 30-month high in May

National Bank of Rwanda researching use of digital currency

Understanding the economics of COVID-19 vaccination in Africa

Sanlam on how COVID-19 has impacted the retirement industry

How rising insecurity threatens food security in Nigeria

Ivory Coast issues $274 mln in domestic bonds

Sanlam’s Naidoo explains why sustainability is key to Africa’s solution based investment plans

What you need to know about the coronavirus right now

World Bank, African Union join forces to expand access to COVID-19 vaccines

Anchor Capital: Where to invest offshore

News Tips

Advertise With Us

Newsletters