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<p>Ahead of the African Development Bank’s 56th annual meetings, Secretary General, Vincent Nmehielle told CNBC Africa that the virtual meeting will feature a high-level dialogue on Africa’s growth and debt, the adoption of AfDB’s financial statement and an engagement with management of the AfDB on its direction in the next financial year.</p>


Here’s what to expect from the AfDB’s 56th annual meetings


<p>NAIROBI, June 17 (Reuters) &#8211; COVID-19 cases rose by over 20% week-on-week in nearly two dozen African countries and progress on vaccinating Africans is proceeding slowly, with just 0.79% of people on the continent fully vaccinated, senior health officials said on Thursday.</p>



<p>&#8220;Africa is in the midst of a full blown third wave…We’ve seen in India and elsewhere how quickly COVID-19 can rebound and overwhelm health systems,&#8221; Matshidiso Moeti, WHO regional director for Africa, told a news conference.</p>



<p>New cases are up nearly 30% in the past week and deaths are up by 15%, she said, with five countries &#8212; South Africa, Tunisia, Zambia, Uganda and Namibia &#8212; accounting for 76% of the new cases.</p>



<p>The continent of 1.3 billion people has not yet been battered with an emergency during the pandemic on the scale of that recently facing India, but officials including Moeti continue to warn that such a catastrophe could hit.</p>



<p>African nations lack sufficient numbers of hospital beds and oxygen supplies, and would be even more overwhelmed than India if cases surged in a similar way, the Africa Centres for Disease Control and Prevention warned in April.</p>



<p>Africa has reported over 5 million COVID-19 cases, representing 2.9% of total cases globally, according to the Africa CDC.</p>



<p>The Africa CDC&#8217;s chief John Nkengasong told reporters in a separate news conference on Thursday that amid quickly rising cases in many countries, progress on vaccination campaigns is generally slow.</p>



<p>Four African countries have not begun vaccination campaigns, but the WHO said on Thursday that Tanzania plans to request to join the COVAX global vaccine-sharing facility. This was the latest sign of the country&#8217;s change of tack following the death of its COVID-19 sceptic president in March.</p>



<p>The aim of COVAX is to help poorer countries vaccinate their people.</p>



<p>Both Moeti and Nkengasong stressed that African nations carrying out vaccinations at a relatively good pace were running out of their stocks.</p>



<p>Five African countries &#8212; Sao Tome and Principe, Morocco, Kenya, Cote d&#8217;Ivoire, Ghana, and Libya &#8212; have used 90% or more of their vaccine stocks, according to the WHO.</p>



<p>Nkengasong welcomed the Group of Seven&#8217;s pledge of 1 billion doses of the COVID-19 vaccine, but said news should be put in the right context. &#8220;The one billion doses are not here now. We are hoping they will be here soon.&#8221; </p>



<p>(Reporting by Omar Mohammed and Maggie Fick; Writing by Maggie Fick Editing by Chizu Nomiyama)</p>


Dr. Moeti…

COVID-19 cases surge in Africa, less than 0.8% of fully vaccinated, say officials

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<p>The U.S Federal Open Market Committee maintained an accommodative monetary policy at its meeting on Wednesday with no signal of tapering.</p>


Is there a slowdown in Nigeria’s corporate bond market?

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<p>Business Unity South Africa is among the business groups that have paid tribute to former Eskom Chair Jabu Mabuza, who died yesterday. In statement, BUSA President, Sipho Pityana said The passing of Mabuza is tragic, devastating and a great loss for business and South Africa. He joins CNBC Africa to reflect on the life of Mabuza.</p>


BUSA President

BUSA President, Pitjana reflects on the life of  Jabu Mabuza

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<p>Having opened her high commission in Ghana just before the covid-19 pandemic, Rwanda is looking at tapping into the west African nation&#8217;s growth in fields like tourism, investment and the education sector. CNBC Africa&#8217;s Fiona Muthoni had a conversation with Rwanda&#8217;s Ambassador to Ghana, Dr. Aisa Kirabo Kacyira on the plans to deepen collaboration between the two countries.</p>


Rwanda-Ghana partnership: What’s in it for Kigali?


<p>JOHANNESBURG, June 15 (Reuters) &#8211; South African President Cyril Ramaphosa said on Tuesday that Johnson &amp; Johnson would send 2 million COVID-19 vaccine doses to the country by the end of the month, making up for the amount lost due to contamination at an U.S. ingredient supplier.</p>



<p>Aspen Pharmacare, J&amp;J&#8217;s local producer, had to destroy 2 million doses of the vaccine after the contamination at a plant in Baltimore, Maryland, was discovered, the latest blow to South Africa&#8217;s struggling vaccination campaign.</p>



<p>&#8220;We have received an indication from Johnson &amp; Johnson that it expects to deliver around 2 million vaccines to South Africa by the end of the month,&#8221; Ramaphosa said in a televised address.</p>



<p>He also announced that the country, which is in the grip of a third wave of infections, would move from an adjusted lockdown level 2 to the stricter level 3 amid a surge in infections. This will include restrictions on alcohol sales and tougher rules around gatherings.</p>



<p>Ramaphosa said now that vaccine supply issues had been resolved, the country had the estimated capacity to vaccinate at least 150,000 people per day and was planning to increase that to 250,000 as soon as possible.</p>



<p>&#8220;I would prefer 300,000 per day, which we will try and reach,&#8221; he said. </p>



<p>(Reporting by Emma Rumney Editing by Chris Reese and Sonya Hepinstall)</p>


Johnson & Johnson Corona vaccine

J&J to send 2 million COVID-19 vaccine doses to South Africa by end-June -President Ramaphosa

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<p>In mid-May 2021, billionaire Elon Musk sent a tweet that crashed the cryptocurrency market. The Tesla CEO announced the electric vehicle company would no longer accept bitcoin for purchases due to its huge energy consumption. So why does crypto-mining use so much electricity, and is there a sustainable alternative? CNBC&#8217;s Nessa Anwar is joined by R&#8230;</p>


Why does bitcoin use so much energy? | CNBC Explains

<p>ABUJA, June 15 (Reuters) &#8211; Nigeria is expecting a second shipment of nearly 4 million doses of COVID-19 vaccines by early August, and plans to resume giving out first doses, which had been halted to save its supply for second doses.</p>
<p>Africa&#8217;s most population has so far given a first dose to only around 2 million of its 200 million people. Fewer than 700,000 having received a second dose.</p>
<p>Nigeria has been rationing 3.92 million doses it received through the COVAX global vaccine sharing programme in March, with its future supplies put in doubt by an export ban from India. The government told states in April to stop giving first doses once half of the supply was used, to ensure there would be enough for second doses.</p>
<p>But Faisal Shuaib, the director of the National Primary Health Care Development Agency, said that restriction was no longer necessary. Nigeria now expects a second shipment of 3.92 million doses of the AstraZeneca COVID-19 vaccine by the end of July or early August.</p>
<p>Vaccination centres will be reopened to adults over the age of 18 seeking first doses, he said.</p>
<p>&#8220;We have been inundated with requests by Nigerians to be vaccinated,&#8221; Shuaib said at a media briefing in Abuja.</p>
<p>He did not specify where the new doses would come from, but pointed to a commitment last week by G7 leaders to deliver at least 1 billion coronavirus vaccine doses to the world over the next year.</p>
<p>Like other African countries, Nigeria is struggling with a lack of supply and inadequate healthcare infrastructure for a rapid mass rollout. Vaccine hesitancy rooted in misinformation is also a problem.</p>
<p>The World Health Organisation (WHO) said last week that about 90% of African countries would miss a September target to vaccinate at least 10% of their populations.</p>
<p>As of Tuesday, Nigeria had 167,078 confirmed cases of COVID-19 and 2,117 deaths. Experts say those figures probably understate the extent of the outbreak, given low testing rates. (Reporting by Felix Onuah, Estelle Shirbon and Libby George Editing by Peter Graff)</p>
<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html</p>
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Nigeria to reopen vaccination for first COVID-19 shots

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<p>A new report by Ren21 shows that the world is nowhere near the necessary paradigm shift towards a clean, healthier and more equitable energy future. The report further states that the share of fossil fuels in the total energy mix is as high as a decade ago while the Executive Director of Ren21, Rana Adib adds that the climate policy promises over the past ten years have mostly been empty words. She joins CNBC Africa for more.</p>


Ren21: Climate policy promises in past decade have mostly been empty words


<p>ABUJA, June 15 (Reuters) &#8211; Nigerian economic growth has resumed after the COVID shock but is lagging the rest of sub-Saharan Africa, with food inflation, heightened insecurity and stalled reforms slowing growth and increasing poverty, the World Bank said on Tuesday.</p>



<p>Presenting its six-monthly update on development in Africa&#8217;s most populous country, the organisation gave a GDP growth forecast for Nigeria of 1.9% in 2021 and 2.1% in 2022, compared with 3.4% this year and 4.0% next year for sub-Saharan Africa.</p>



<p>Lead economist for Nigeria Marco Hernandez said inflation, especially in food prices, was exacerbating poverty and food insecurity. Food accounted for almost 70% of Nigeria&#8217;s total increase in inflation over the past year.</p>



<p>He said the COVID-induced crisis was expected to push over 11 million Nigerians into poverty by 2022, taking the total number of people classified as poor in the country to over 100 million. The total population is estimated at 200 million.</p>



<p>The World Bank expects the Nigerian inflation rate in 2021 to be 16.5%. The forecast for sub-Saharan Africa, excluding Nigeria, is 5.9%.</p>



<p>Hernandez said increased insecurity across the nation &#8212; ranging from mass abductions at schools, kidnappings for ransom, armed conflict between herdsmen and farmers, armed robberies and various insurgencies &#8212; was a drag on growth and job creation.</p>



<p>He said it was critical for the government to maintain reform momentum, but that some important reforms had stalled.</p>



<p>He cited petrol subsidies, which have recently returned after the government had established a market-based pricing mechanism, and electricity tariff reform, an area where planned adjustments to bring prices in line with costs have been paused.</p>



<p>Hernandez said Nigeria had the largest number of people without access to electricity in the world, and that electricity subsidies benefited mainly richer households. Only 22% of the poorest households have access to electricity, while 82% of the richest are able to access power. </p>



<p>(Reporting by Estelle Shirbon and Chijioke Ohuocha; Editing by Catherine Evans, William Maclean)</p>


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Nigerian growth lags Africa, poverty rising, says World Bank

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<p>The World Bank has approved three billion dollars in funding for vaccination in 32 countries, 15 of which are in Africa. As African stakeholders explore ways to recover from the fallout of the COVID-19 pandemic, CNBC Africa takes a look at how African nations can build resilient health care systems with Dr Dumani Kula, Chief Operating Officer for Africa at Evercare Group.</p>


How African nations can build resilient healthcare systems post-COVID-19

<p>ABUJA, June 15 (Reuters) &#8211; MTN&#8217;s service in Nigeria could be disrupted as a result of rising insecurity in different parts of the country, the local unit of South Africa&#8217;s telecoms group said on Tuesday. (Reporting by Chijioke Ohuocha; Editing by Jon Boyle)</p>
<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html</p>
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MTN warns of service disruption in Nigeria due to rising insecurity

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<p>In a bid to become a carbon-neutral economy by 2050, the Rwandan government has embarked on a project to scale up electric motorbikes in the country through the process of retrofitting. The project holds benefits not just for the environment but also for moto-taxi operators who depend on the motorcycles for a living.</p>


Rwanda plans to scale up electric motorbikes to achieve carbon neutrality goals

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<p>Corporate tax is a tax rate that every company has to pay to the government. Almost much every country in the world has that tax with the level of taxation determined at the local level. However, US President Joe Biden’s administration proposes a shift of that model. How does that affect Africa?  Carlos Lopes, Professor at the Mandela School, University of Cape Town spoke to CNBC Africa’s Julius Bizimungu for more.</p>


How will Biden’s proposed global corporate tax affect Africa?

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<p>As more and more countries in Africa embrace the Continental Free Trade Area Agreement, Rwanda and Ghana seek to explore opportunities in trade, tourism and investments with each other.</p>


Rwanda

Rwanda, Ghana seek to deepen tourism, trade & investment


<p>It said the company had further doses of J&amp;J vaccines under production that would be available to the government in July.</p>



<p>South Africa&#8217;s vaccination drive faced a set back on Sunday when its drugs regulator said as many as 2 million doses of J&amp;J vaccines that Aspen had ready for release from its local plant could not be used, after a U.S. Food and Drug Administration (USFDA) notice.</p>



<p>These doses were to have been used to start vaccinating teachers in South Africa, who are not now covered under phase 2 of a vaccination drive using Pfizer&#8217;s two-dose vaccine.</p>



<p>South African Health Products Regulatory Authority (SAHPRA) said on Sunday that approximately 300,000 doses that had been cleared by the USFDA would soon be shipped to South Africa, even as the two million doses would be discarded.</p>



<p>&#8220;Within days, Johnson &amp; Johnson will provide 300 000 doses of the vaccine for South African teachers,&#8221; Aspen said in a statement.</p>



<p>(Reporting by Promit Mukherjee; Editing by Emma Rumney)</p>


South Africa’s Aspen to release fresh J&J vaccines within one week

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<p>South Africa&#8217;s agricultural sector is having such a good season that confidence in the industry reached a record high in the second quarter of 2021. The Agribusiness Confidence Index reached 75 points in the quarter &#8211; accelerating from 64 points in the first quarter. Joining CNBC Africa to unpack the figures is Wandile Sihlobo, Chief Economist at the Agricultural Business Chamber of South Africa.</p>


Newsletter

Here’s what to expect from the AfDB’s 56th annual meetings

COVID-19 cases surge in Africa, less than 0.8% of fully vaccinated, say officials

Is there a slowdown in Nigeria’s corporate bond market?

BUSA President, Pitjana reflects on the life of Jabu Mabuza

Rwanda-Ghana partnership: What’s in it for Kigali?

J&J to send 2 million COVID-19 vaccine doses to South Africa by end-June -President Ramaphosa

Why does bitcoin use so much energy? | CNBC Explains

Nigeria to reopen vaccination for first COVID-19 shots

Ren21: Climate policy promises in past decade have mostly been empty words

Nigerian growth lags Africa, poverty rising, says World Bank

How African nations can build resilient healthcare systems post-COVID-19

MTN warns of service disruption in Nigeria due to rising insecurity

Rwanda plans to scale up electric motorbikes to achieve carbon neutrality goals

How will Biden’s proposed global corporate tax affect Africa?

Rwanda, Ghana seek to deepen tourism, trade & investment

South Africa’s Aspen to release fresh J&J vaccines within one week

SA’s agribusiness confidence reaches record high in second quarter

News Tips

Advertise With Us

Newsletter

Here’s what to expect from the AfDB’s 56th annual meetings

COVID-19 cases surge in Africa, less than 0.8% of fully vaccinated, say officials

Is there a slowdown in Nigeria’s corporate bond market?

BUSA President, Pitjana reflects on the life of Jabu Mabuza

Rwanda-Ghana partnership: What’s in it for Kigali?

J&J to send 2 million COVID-19 vaccine doses to South Africa by end-June -President Ramaphosa

Why does bitcoin use so much energy? | CNBC Explains

Nigeria to reopen vaccination for first COVID-19 shots

Ren21: Climate policy promises in past decade have mostly been empty words

Nigerian growth lags Africa, poverty rising, says World Bank

How African nations can build resilient healthcare systems post-COVID-19

MTN warns of service disruption in Nigeria due to rising insecurity

Rwanda plans to scale up electric motorbikes to achieve carbon neutrality goals

How will Biden’s proposed global corporate tax affect Africa?

Rwanda, Ghana seek to deepen tourism, trade & investment

South Africa’s Aspen to release fresh J&J vaccines within one week

SA’s agribusiness confidence reaches record high in second quarter

News Tips

Advertise With Us

Newsletters