<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-820x547.jpeg" alt="" class="wp-image-397873" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>SYDNEY, AUSTRALIA &#8211; FEBRUARY 18: In this photo illustration reports on Facebook&#8217;s news ban on Australian and International content on February 18, 2021 in Sydney, Australia. Facebook has banned publishers an users in Australia from posting it sharing news content as the Australian government prepares to pass laws that will require social media companies to pay news publishers for sharing using content on their platforms. (Photo by Brendon Thorne/Getty Images)</figcaption></figure>



<a href="https://www.cnbc.com/quotes/FB" target="_blank" rel="noreferrer noopener">Facebook</a>&nbsp;has reached an agreement with the Australian government and will restore news pages in the country days after restricting them.



The decision follows negotiations between the tech giant and the Australian government, <a href="https://www.cnbcafrica.com/2021/australia-commits-to-content-law-despite-facebook-news-blackout/">which is set to pass a new media law </a>that will require digital platforms to pay for news.



“After further discussions, we are satisfied that the Australian government has agreed to a number of changes and guarantees that address our core concerns about allowing commercial deals that recognize the value our platform provides to publishers relative to the value we receive from them,”&nbsp;<a href="https://about.fb.com/news/2021/02/changes-to-sharing-and-viewing-news-on-facebook-in-australia/" target="_blank" rel="noreferrer noopener">Facebook said in an updated statement</a>.



Prime Minister Scott Morrison’s government has introduced last-minute changes to the proposed media bargaining code that is in Parliament and is expected to be voted into law soon.



Those changes include a two-month mediation period to allow digital platforms and publishers to broker deals before they are made to enter arbitration as a last resort.



The arbitration clause in the media bargaining code has been one of Facebook’s main points of objection.



It states that the arbitrator will rule either in favor of either party — the digital platform or the publisher — with no room for a middle-ground agreement, according to experts.



Under the amendments, the Australian government will take into account commercial agreements that digital platforms like Google and Facebook have already made with local news media businesses before deciding if the code applies to the tech giants.



The government will also give the digital platforms one month’s notice before reaching the final decision.



The amendments are expected to provide “further clarity” to digital platforms and news organizations on how the bargaining code will be implemented, the government said.



—&nbsp;CNBC’s Will Koulouris contributed to this report.



This is a breaking news. Please check back for updates.

Facebook Australia Restricts News Publishers And Users In Response To Proposed Media Bargaining Laws

Facebook to restore news pages for Australian users in coming days

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-820x547.jpeg" alt="" class="wp-image-397971" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-768x513.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-1536x1025.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Emissions rise from towers at the Sasol Ltd. Sasol One Site in Sasolburg, South Africa, on Wednesday, Aug. 7, 2019. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, February 22 (ANA) – Integrated energy and chemical company Sasol said on Monday its headline earnings per share increased by more than 100 percent to R19.16 (US$1.29) in the six months ended December compared with the same period the previous year.



Sasol said despite a 23 percent decrease in the rand/barrel oil price, its adjusted earnings before interest, taxes, depreciation and amortisation decreased by only six percent.





“This achievement is as a result of a strong cash cost, working capital and capital expenditure performance in response to the challenging environment,” it said.



The company said it had decided not to pursue a rights issue given the current tough macroeconomic outlook and the significant progress made on its response plan initiatives.



While cash flows were impacted by low crude oil prices, softer chemical prices, plant downtime and the impact of Covid-19, its cash conservation initiative and asset divestment programme enabled the company to repay approximately R28 billion (US$1.9 billion) of debt.



“Given our current financial leverage and the risk of a prolonged period of economic uncertainty, the board believes that it would be prudent to continue with the suspension of dividends,” Sasol said.



“We expect the balance sheet to regain flexibility following the implementation of our comprehensive response plan strategy.”



Last Friday Sasol approved the final investment decision on the Mozambique Production Sharing Agreement (PSA) license area, a project estimated to cost US$760 million.



On Monday, it said the project would entail Mozambique in-country monetisation of gas through a 450 megawatt gas-fired power plant and a liquefied petroleum gas facility in the same time frame.



“The balance of the gas produced will be exported to South Africa to sustain our operations,” said Sasol.



“The PSA development underpins Sasol’s gas transformation strategy by securing additional gas supply from southern Mozambique into Sasol’s gas value chain starting 2024 and serves as a cornerstone in addressing Sasol’s sustainability agenda.”



– African News Agency (ANA), Editing by Stella Mapenzauswa

Sasol Ltd.’s South Africa Plants Threatened By Emission Standards

Sasol Interim Earnings More Than Double

By Julie Steenhuysen
CHICAGO, Feb 22 (Reuters) &#8211; Dr. Anthony Fauci, the nation&#8217;s top infectious disease expert, said political divisiveness contributed significantly to the &#8220;stunning&#8221; U.S. COVID-19 death toll, which on Monday surpassed 500,000 lives lost.
The country had recorded more than 28 million COVID-19 cases and 500,054 fatalities as of Monday afternoon, according to a Reuters tally of public health data. In an interview with Reuters, Fauci on Monday said the pandemic arrived in the United States as the country was riven by political divisions in which wearing a mask became a political statement rather than a public health measure.
&#8220;Even under the best of circumstances, this would have been a very serious problem,&#8221; Fauci said, noting that despite strong adherence to public health measures, countries such as Germany and the UK struggled with the virus.
&#8220;However, that does not explain how a rich and sophisticated country can have the most percentage of deaths and be the hardest-hit country in the world,&#8221; said Fauci, director of the National Institute of Allergy and Infectious Diseases and a top adviser to President Joe Biden. &#8220;That I believe should not have happened.&#8221;
While the United States has just about 4% of the global population, it has recorded nearly 20% of all COVID-19 deaths.
Fauci said the emergence of more contagious variants of the coronavirus, especially ones from South Africa and Brazil that have been shown to reduce the immunity from natural infections and vaccines, have made it challenging to predict when the nation will be able to put the pandemic behind it.
Fauci and Biden have said the United States should return to something approaching pre-pandemic normal life around Christmas. That could change, he cautioned.
The variants also change the equation when it comes to herd immunity, in which a population becomes protected from infection because of high levels of immunity from vaccines or infections.
Asked whether that is still achievable, Fauci said, &#8220;I think we can get herd immunity at least against getting sick.&#8221; (Reporting by Julie Steenhuysen Editing by Bill Berkrot)
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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Fauci says U.S. political divisions contributed to 500,000 dead from COVID-19

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="590" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-820x590.jpeg" alt="" class="wp-image-397974" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-820x590.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-300x216.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-768x553.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-1536x1106.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption> Former South African president Jacob Zuma arrives to appear before the Commission of Inquiry into State Capture that is probing wide-ranging allegations of corruption in government and state-owned companies in Johannesburg, on July 19, 2019. (Photo by MIKE HUTCHINGS / POOL / AFP) (Photo by MIKE HUTCHINGS/POOL/AFP via Getty Images)</figcaption></figure>



JOHANNESBURG, Feb 22 (Reuters) &#8211; A South African inquiry into corruption during Jacob Zuma&#8217;s time in power is seeking the former president&#8217;s imprisonment for two years, after he defied a summons and court order to appear and give evidence.



In an application in the constitutional court seen by Reuters, the &#8220;state capture&#8221; inquiry is seeking an order that Zuma is guilty of contempt of court for not turning up last week or providing affidavits when instructed to do so.



The inquiry is examining allegations of high-level graft during Zuma&#8217;s period in power from 2009 to 2018.



Zuma denies wrongdoing and has not cooperated with the inquiry. His no-show last week came despite the inquiry summoning him to appear and the constitutional court directing him to comply with that summons and give testimony.



Zuma&#8217;s lawyer Eric Mabuza was not available when called by Reuters seeking comment.



The allegations against Zuma include that he allowed businessmen close to him &#8211; brothers Atul, Ajay and Rajesh Gupta &#8211; to plunder state resources and influence policy.



The Guptas, who also deny wrongdoing, left South Africa after Zuma was ousted in a move orchestrated by allies of his successor Cyril Ramaphosa.



Ramaphosa has been trying to restore investor confidence in Africa&#8217;s most industrialised nation. However, he has faced opposition from a faction within the governing African National Congress party that is still loyal to Zuma. (Reporting by Alexander Winning Editing by Mark Heinrich)



(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

TOPSHOT-SAFRICA-POLITICS-CORRUPTION-INVESTIGATION

South African corruption inquiry wants Zuma jailed for 2 years after no-show

JOHANNESBURG, Feb 22 (Reuters) &#8211; South Africa&#8217;s telecoms regulator on Monday pushed back the announcement of the qualifying bidders for its long-awaited auction of new spectrum by a month to March 23, just a week before the sale had been due to be completed.
The Independent Communications Authority of South Africa (ICASA) said it was completing a contract with the external auctioneer who will oversee and manage the process, and the auction would now start on March 31 rather than finishing then.
Allocation of high-demand spectrum is seen as key to expanding broadband services, especially 5G, in Africa&#8217;s most industrialised economy, where the high cost of telecommunications is a barrier to doing business.
Telecom operators have been waiting over a decade for ICASA to release new spectrum licences but Telkom, which is partly state-owned, and MTN Group have challenged the auction process in court.
&#8220;We remain confident that we are not off the track but in a better position to complete the licensing of high-demand spectrum,&#8221; ICASA&#8217;s Chairperson Keabetswe Modimoeng said.
Telkom is seeking an order to halt the auction and there has not been a judgment in its case yet. MTN&#8217;s separate challenge has yet to be heard in court.
Operators including MTN, Telkom, Vodacom, Cell C, Rain networks and Liquid Telecoms have applied for licences.
The spectrum auction process was pushed back three months in September due to a delay in issuing invitations to apply. (Reporting by Nqobile Dludla; Editing by David Clarke)
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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South Africa’s telecoms regulator pushes back spectrum auction again

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Super Group has reported that headline earnings per share rose by 4.7 per cent, for the six months ended December 2020. Cash generated from operations increased by an impressive 23.5 per cent. However, no interim dividend has been declared. Peter Mountford, CEO at Super Group joins CNBC Africa for more.

Super Group delivers solid earnings amid COVID-19 disruptions

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Anglo American Platinum has reported a 63 per cent jump in headline earnings per share for the 2020 financial year. This is compared to the previous financial year. The financial performance was underpinned in part by an increase in the platinum group metals basket price. Natasha Viljoen, CEO at Anglo American Platinum joins CNBC Africa for more.

Amplats impresses with 63% jump in headline earnings

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As the month of February winds down, looking at the performance of West Africa markets, the GSE composite index is blazing the trail with year-to-date gains of just over 12 per cent, while the BRVM composite index is down 8.7 per cent and the NSE All Share index is also down 0.2 per cent. Omotola Abimbola, a Macro and Fixed Income Analyst at Chapel Hill Denham joins CNBC Africa for more.

What to expect from West African markets this week

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1242244235-820x547.jpeg" alt="" class="wp-image-397888" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1242244235-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1242244235-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1242244235-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1242244235-1536x1025.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1242244235-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>scuba diver floating near to corals on ocean floor.</figcaption></figure>



It’s well known that Africa is rich in biodiversity. An estimated <a href="https://www.tandfonline.com/doi/full/10.1080/20964129.2018.1530054">one-fifth of all known species</a> of mammals, birds and plants are found in the continent. However, species abundance and diversity is in decline in Africa, with climate change being one of the greatest threats to biodiversity.



And Africa is facing increased threats of biodiversity loss. <a href="https://www.theguardian.com/environment/2018/nov/03/stop-biodiversity-loss-or-we-could-face-our-own-extinction-warns-un">By 2050</a>, it’s estimated that over half of African bird and mammal species are expected to be lost.



The <a href="https://www.oneplanetsummit.fr/en">One Planet Summit</a> that took place earlier this year saw world leaders convene virtually to discuss ways in which to protect biodiversity with funding being a key issue. With biodiversity facing an annual <a href="https://www.euractiv.com/section/energy-environment/news/one-planet-summit-no-climate-fix-without-biodiversity/">funding gap of US$711 billion until 2030</a>, according to the United Nations Secretary General Antonio Guterres.



Funding is key to conserving biodiversity and offsetting loss, but for most of the time, biodiversity funding is sidelined. But as <a href="https://www.theguardian.com/global-development/2014/apr/19/homegrown-philanthropy-local-giving-global-south">philanthropy</a> booms in Africa, there’s an increasingly strong case for deploying philanthropic capital to help offset biodiversity loss.



The case for philanthropy



Philanthropic foundations can use their financial power to help offset biodiversity loss.



Philanthropy has <a href="https://ssir.org/givingwithimpact">excelled in efforts</a> to support everything from the eradication of polio to increasing access to education to millions across the world.&nbsp; Now is the time to extend these efforts to sustainable development by supporting biodiversity conservation and habitats.



As philanthropists have the agility to take risks in underfunded sectors, they can play a catalytic role in supporting initiatives that may not otherwise attract traditional development funding.



First, philanthropists can help fill the gap by strategically deploying capital to kick start conservation efforts.



Take conflict zones, where the impact of conflicts on the natural environment is detrimental and often underestimated. For example, during the civil war in Mozambique, the <a href="https://www.dw.com/en/literally-bringing-life-back-to-mozambiques-gorongosa-national-park/a-40968419">Gorongosa National Park Mozambique</a> which was once one of the most biodiverse areas on our planet, lost 90 per cent of its wildlife. However, a decade later, more than <a href="https://www.nationalgeographic.com/animals/2018/12/african-wildlife-is-rebounding-gorongosa-national-park/">100,000 large animals</a> inhabit Gorongosa due to strategic philanthropic investments from the <a href="https://www.nationalgeographic.com/animals/2018/12/african-wildlife-is-rebounding-gorongosa-national-park/">Carr Foundation</a>. Philanthropist Gregory Carr pledged <a href="https://www.smithsonianmag.com/travel/greg-carrs-big-gamble-153081070/">$40 million over 30 years</a> to help restore the park, and the park could now reach pre-war animal population levels.



Second, philanthropists can help shape the agenda and raise much-needed awareness.



While philanthropy alone cannot make up the shortfall in biodiversity conservation funding, philanthropic capital can be channeled to raise awareness to the growing nature-based threats and canvass public opinion. For example, philanthropic capital can be deployed to support <a href="https://fundraising.co.uk/2019/05/23/invest-more-funding-to-tackle-climate-change-scientists-urge-funders/?cmpredirect#.XULS4ZNKjVo">civil society and social movements, green investment in research and development and strategic litigation and public education</a>.



These soft approaches could provide the incentive needed to help offset biodiversity loss by shining a light on activities such as illegal wildlife trade and harmful resource extraction methods. And this in turn can ignite a groundswell of public support, prompting governments to respond and provide the political will needed to move the needle.



Third, philanthropists can ‘biodiversity proof’ their donations. This can be done by assessing the impact their funded projects/programs have on biodiversity. Philanthropic institutions can then scale back funding of projects that are deemed harmful to biodiversity. A changing of practices and greater due diligence is a small price to pay in the long-term.



Reaching a tipping point



Biodiversity is vital for sustainable development and without a healthy environment, poverty alleviation efforts could be undermined or at worst reversed.



While evidence shows that we are reaching a tipping point, there’s still time to act.



There’s a compelling case for philanthropy to lead efforts and champion biodiversity conservation in Africa and nature should be at the heart of the prioritization and allocation of philanthropic capital.



Although the next decade presents a myriad of challenges, the potential for transformation is even greater. And now is the time for philanthropy to step up.



Maram Ahmed is a Senior Fellow at the School of Oriental and African Studies at the University of London

Corals underwater

How philanthropy can help conserve biodiversity in Africa

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Nigeria’s Debt Management Office says the country has over $5.8 billion undisbursed loans that have been approved by the regulator. This comes as the debt office disclosed that its Chinese loans has reached 3.2 trillion naira but notes that there is no cause for concern as they are project-tied and concessional. Nnamdi Nwizu, Co-Managing Partner at Commercio Partner joins CNBC Africa for more.

Debt Office clarifies Nigeria has $5.8bn undisbursed foreign loans

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The Rwandan government has proposed regulation on e-commerce, which if approved, would see businesses pay e-commerce license, regulatory fee on their turnover, and other stringent measures. Where does this leave players?

Rwanda: Is it too early to regulate e-commerce?

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231048263-820x547.jpeg" alt="" class="wp-image-397878" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231048263-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231048263-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231048263-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231048263-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231048263-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Illustrative image of a commemorative bitcoin in front of the Tesla car logo.
Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future.
On Monday, February 8, 2021, in Dublin, Ireland. (Photo by Artur Widak/NurPhoto via Getty Images)</figcaption></figure>



<a href="https://www.cnbc.com/quotes/TSLA">Tesla</a>&nbsp;has made roughly $1 billion in paper profits from its investment into&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=BTC.BS=-USS">bitcoin</a>, according to Daniel Ives, analyst at Wedbush Securities.



The company is “on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of 2020,” Ives estimated in a note published Saturday.



Earlier this month, the U.S. electric carmaker disclosed in a Securities and Exchange Commission filing that it had&nbsp;<a href="https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html">bought $1.5 billion worth of bitcoin</a>&nbsp;for “more flexibility to further diversify and maximize returns on our cash.”



The purchase was made some time in January, the company said without disclosing when or at what price it bought bitcoin for. It’s unclear if Tesla has sold any of the bitcoin yet.



Bitcoin has seen a huge rally this year, touching fresh record highs regularly.&nbsp;<a href="https://www.cnbc.com/2021/02/19/bitcoin-hits-1-trillion-in-market-value-as-cryptocurrency-surge-continues.html">Bitcoin’s market value topped $1 trillion for the first time</a>&nbsp;last week, and the cryptocurrency is up 94% year-to-date.



Ives did not explain how he got to that calculation. But according to CoinDesk data, bitcoin’s price has gone from an intraday high of $34,793.45 on Jan. 31 to an intraday high of $57,487.03 on Feb. 20, the day Ives published his note.



That’s a rise of about 65%, which would put the profit on Tesla’s $1.5 billion bitcoin investment at around $975 million. Based on Monday’s intraday high of $58,332.36, that profit would be over $1 billion.



“While the Bitcoin investment is a side show for Tesla, it’s clearly been a good initial investment and a trend we expect could have a ripple impact for other public companies over the next 12 to 18 months,” Ives said.



Tesla CEO&nbsp;<a href="https://www.cnbc.com/elon-musk/">Elon Musk</a>&nbsp;is a proponent of digital currencies. He recently said bitcoin is “is simply a less dumb form of liquidity than cash.”



But he also tweeted on Saturday that the price of&nbsp;<a href="https://www.cnbc.com/2021/02/20/elon-musk-says-bitcoin-seems-high-after-surpassing-1-trillion-market-cap.html">bitcoin and another digital currency ethereum do “seem high.”</a>

Tesla Buys USD 1.5 Billion In Bitcoin

Tesla has made about $1 billion in profit on its bitcoin investment, analyst estimates

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-820x547.jpeg" alt="" class="wp-image-397873" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1302717103-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>SYDNEY, AUSTRALIA &#8211; FEBRUARY 18: In this photo illustration reports on Facebook&#8217;s news ban on Australian and International content on February 18, 2021 in Sydney, Australia. Facebook has banned publishers an users in Australia from posting it sharing news content as the Australian government prepares to pass laws that will require social media companies to pay news publishers for sharing using content on their platforms. (Photo by Brendon Thorne/Getty Images)</figcaption></figure>



CAPE TOWN, February 19 (ANA) – Australia’s Prime Minister Scott Morrison has committed to apply laws to Facebook that force the social media giant to pay publishers for their media content.



In its dispute with the Australian authorities over paying for content, Facebook blocked all media content in Australia on Thursday.



Facebook not only blocked domestic and foreign news outlets for Australians, but also removed state government and emergency department accounts.



The proposed Media Bargaining Bill is designed to address a power imbalance between social media giants and publishers, whereby Facebook and Google are scooping up the majority of the advertising revenue. Australian publishers have complained that it is not a level playing field.



The bill includes negotiation safety, which allows for news outlets to negotiate commercial deals with Facebook and Google for news content used, and to prevent the tech sites from dominating the negotiations.



According to the Straits Times, if an agreement can’t be reached, an arbitrator will decide on the most reasonable offer. And, if the social media platforms were to break the agreement, they would face an US$7.8 million penalty.



“There is a lot of world interest in what Australia is doing. That is why I invite Facebook to constructively engage because they know that what Australia will do here is likely to be followed by many other Western jurisdictions,” Morrison told reporters in Sydney on Friday.



Morrison added that the leaders of Britain, France, Canada and India were backing them and would adopt the same approach.



The proposed legislation will initially apply to Facebook and Google, but authorities said it is likely other big tech firms will be added to it as well.



“Facebook was wrong, Facebook’s actions were unnecessary, they were heavy-handed, and they will damage its reputation here in Australia,” Treasurer Josh Frydenberg said in a news conference on Thursday.



“There is something much bigger here at stake than just one or two commercial deals. This is about Australia’s sovereignty,” he said.



– African News Agency (ANA); Editing by Yaron Blecher

Australia Commits To Content Law Despite Facebook News Blackout

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1230609367-820x547.jpeg" alt="" class="wp-image-397874" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1230609367-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1230609367-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1230609367-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1230609367-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1230609367-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Tatenda Chivaura, head brewer, checks the bubbler of a beer barrel at Mad Giant Brewery, in Newtown, Johannesburg, on January 15, 2021. &#8211; Craft breweries in South Africa had to adjust their operations to survive the third alcohol ban, where buying and transporting alcoholic beverages is prohibited, imposed by the government to help curb the spread of COVID-19.
Mad Giant Brewery has reconverted part of his staff to the production of hydroalcoholic gel. During the first wave of the pandemic, this new activity kept him afloat. But this time it&#8217;s a bit harder. (Photo by Luca Sola / AFP) (Photo by LUCA SOLA/AFP via Getty Images)</figcaption></figure>



CAPE TOWN, February 21 (ANA) – The Beer Association of South Africa (Basa) has called on Finance Minister Tito Mboweni to offer the industry some tax relief ahead of his <a href="https://www.cnbcafrica.com/2021/south-africa-readies-most-important-budget-yet-as-recovery-hangs-in-the-balance/">budget speech scheduled for Wednesday</a>.



“We believe this is the least that government can do to help our members, especially small craft brewers, whose businesses have been devastated by 19 weeks of restricted trading,” Basa said in a statement on Sunday.



To help rebuild the local beer industry, Basa urged Mboweni to make a commitment not to increase excise taxes for the forthcoming financial year.



“At the very least, we call on him to commit to a below-inflation increase in excise taxes on beer. We need to save jobs and livelihoods, but we cannot do so without any targeted relief from government,” Basa said.



“We think that government’s unexpected R100 billion revenue windfall is an opportunity to offer some tax relief to businesses that were shut down by government for long periods.”



The <a href="https://www.cnbcafrica.com/media/6224400638001/new-alcohol-ban-having-a-devastating-effect-on-sas-wine-and-hospitality-industry/">three blanket bans on alcohol</a> – due to Covid-19 regulations – had resulted in beer sales declining by 195 million litres since March last year.



“We have seen small businesses and craft breweries take the greatest of hits, with a survey conducted by our member, the Craft Brewer’s Association, indicating that 87.5 percent of craft breweries were at risk of shutting down following the third blanket ban on alcohol sales. The majority of these businesses have no certainty of survival beyond the end of February,” Basa said.



The overall potential sales revenue lost from the alcohol industry amounted to R36.3 billion with a total annualised loss to GDP at R51.9 billion, which was equivalent to one percent of GDP. More worrying still, were the 200,200 jobs which remained at risk within the alcohol industry, “which is staggering for survival under present conditions”.



“Basa would like to reiterate that there is a desperate need for other payment deferrals and financial relief in terms of automatic liquor licence renewals if we are to have any hope of saving the businesses that remain standing.”



Since the beginning of the pandemic, the beer industry had contributed to mitigating the economic effects of the lockdown on the poor and homeless. Over four million meals had been served to hungry South Africans, using craft brewers’ funds, premises, staff, and distribution networks.



One Cape Town brewery, the Woodstock Brewery, had served 2.9 million meals to hungry Capetonians after a massive fundraising campaign among craft beer enthusiasts.



“This business is one that is now sadly faced with closure as a result of lost revenues. It is a truly tragic reality to witness those who have fed others go hungry themselves.



“While Basa remains committed to working openly and transparently with government, we cannot continue to keep businesses alive as an industry association alone.“



National government needed to come to the table – and fast – if it did not want to increase South Africa’s already exceptionally high unemployment rate of 30.8 percent, Basa said.



Basa comprises of the Craft Brewers Association, Heineken South Africa, and South African Breweries.



– African News Agency (ANA), editing by Jacques Keet

SAFRICA-HEALTH-VIRUS-ECONOMY-ALCOHOL

Beer Industry Calls On Finance Minister Mboweni For Tax Relief To Save Jobs And Livelihoods

This article is part of an ongoing series of basic financial education brought to you by financial industry professionals curated by PocketFin – The Financial School of Real Life. CNBC Africa provides content from PocketFin as a service to its readers but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by PocketFin.



<div class="wp-block-image is-style-rounded"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-spiske-5gGcn2PRrtc-unsplash-820x547.jpg" alt="" class="wp-image-397835" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-spiske-5gGcn2PRrtc-unsplash-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-spiske-5gGcn2PRrtc-unsplash-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-spiske-5gGcn2PRrtc-unsplash-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-spiske-5gGcn2PRrtc-unsplash-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-spiske-5gGcn2PRrtc-unsplash-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Photo by&nbsp;<a href="https://unsplash.com/@markusspiske?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Markus Spiske</a>&nbsp;on&nbsp;<a href="https://unsplash.com/s/photos/graphs?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a></figcaption></figure></div>



Investing by oneself has become more popular than ever, with the rise in technology it has become easier to access information on almost every topic in the world, even such as this article based on financial education!



There is no denying the digital revolution is well upon us, but when researching how to invest or where to invest, it can still be a daunting task. Today we will discuss one of the most important topics around investing and that is understanding the concept of risk profiling, which along with further education can enable you to make more informed decisions on your wealth creation journey.



Risk tolerance is a very important aspect of the first steps to investing. Depending on your age, income, investments, and goals, you will fall into one of five risk categories:



Conservative



Moderately conservative



Moderate



Moderately aggressive



Aggressive



<div class="wp-block-image is-style-rounded"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-winkler-IrRbSND5EUc-unsplash-820x547.jpg" alt="" class="wp-image-397856" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-winkler-IrRbSND5EUc-unsplash-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-winkler-IrRbSND5EUc-unsplash-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-winkler-IrRbSND5EUc-unsplash-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-winkler-IrRbSND5EUc-unsplash-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/markus-winkler-IrRbSND5EUc-unsplash-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Photo by <a href="https://unsplash.com/@markuswinkler?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Markus Winkler</a> on <a href="https://unsplash.com/s/photos/graphs?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a></figcaption></figure></div>



The easiest way to get a feel for which end of the spectrum you fall is to go by age as when it comes to investing, especially for the long term which is how we accrue future wealth, it is often about the old adage of “the sooner you start the better”.



If you’re young and have a long time horizon, you should have the ability to be aggressive, while if you are older your time horizon would be shorter as you want to protect the capital you have accrued, this meaning you should be more conservative.



Let’s briefly discuss the five different risk profiles and how to manage that risk:



Aggressive investor:



If you are an aggressive investor it is quite simple to make your investment choices. You have time, and have an appetite for risk and that means you would want your investments to be in riskier assets such as equities or properties and little to none in cash and bonds which are traditionally very safe investments. Another way to diversify is not necessarily stock pick but make use of ETFs and/or mutual funds.Keep in mind that you would still want to have a conservative emergency fund (preferably three to six months of your expenses) and build assets up.



Moderately aggressive investor:



You are well into your working career and are putting a substantial amount of your income after expenses into investments, this phase, much like being an aggressive investor still focuses on capital creation via riskier and growth based investments. A moderately aggressive risk profile generally comprises about 70-80% equities and the rest remains in fixed income such as corporate or government bonds which still carry some risk but yields superior returns to cash investments. 



Moderate investor:



When you are +- ten to twelve years away from your ideal retirement age, you would’ve taken substantial risk with aggressive investments for a good decade or two and would have hopefully been rewarded for that risk appetite. Generally at this phase you would switch into a more moderate investment stance, perhaps lowering that equity exposure to around 50-60% of your portfolio as you are ideally getting to a place of financial security. 



Moderately conservative investor:



When you are +- eight to ten years out from your ideal retirement age you would generally consider shifting into a moderately conservative wealth creation stance, this entails possibly starting to sell out from equity funds and focus on squashing any left over debt, perhaps keeping around 30-40% left in equities or pure growth generating investments or funds. Balanced cautious funds become popular to the moderately conservative investor as well as holding large cap stocks that do not fluctuate or carry as much risk as mid or low cap stocks. Utilizing fixed deposits/bonds and opening more exposure to safe cash investments generally become more popular during this phase of your financial life.



Conservative investor:



By the time you are within a few years of retirement, your assets should generally be made more conservative by utilizing cash funds or low risk investments to avoid any potential market downturns and unwanted losses. You are now entering a wealth preservation phase of your financial life and ideally do not want more than 10-20% left in equities or capital growth based assets. Five to seven years prior to your retirement you want to start preparing yourself. During these years, you do not want to lose money while you plan your retirement lifestyle and income needs. After a few years of retirement, you can actually start to take on more risk if your debt has been minimised or depleted and have enough cash to draw a sustainable income that can increase in line with inflation.



Conclusion:



It is important to be educated on various risk profiles and the concept of time horizons in investing and how asset classes differ. We will discuss asset classes in more detail in future articles.



<figure class="wp-block-image size-large"><a href="https://pocketfin.co.za/"><img loading="lazy" decoding="async" width="820" height="320" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/CNBC-Pocketfin-Sign-Up-2x-820x320.jpg" alt="PocketFin - Financial School of Real Life" class="wp-image-396243" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/CNBC-Pocketfin-Sign-Up-2x-820x320.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/CNBC-Pocketfin-Sign-Up-2x-300x117.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/CNBC-Pocketfin-Sign-Up-2x-768x300.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/CNBC-Pocketfin-Sign-Up-2x-1536x599.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/CNBC-Pocketfin-Sign-Up-2x.jpg 1640w" sizes="(max-width: 820px) 100vw, 820px" /></a></figure>

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Risk profiles in investing

The Future Of The Aircraft Carrier

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-453523122-820x547.jpeg" alt="" class="wp-image-397850" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-453523122-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-453523122-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-453523122-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-453523122-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-453523122-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Pedestrians pass a window display of mannequins at a Truworths International Ltd. fashion store in Sandton, South Africa, on Tuesday, Aug. 12, 2014. | Dean Hutton/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Feb 19 (Reuters) &#8211; South Africa&#8217;s Truworths International is entering the highly competitive budget clothing market with a new brand to be launched in 15 stores, looking to adapt to changing shopping habits since the emergence of the novel coronavirus.



The global apparel industry is reeling from a punishing 2020, when shops were forced to close to prevent the spread of the virus and consumers switched formal dresses for sweat pants. Shoppers also prioritised essentials over clothes.





The move will help attract young, casual yet fashionable, but on a budget, shoppers into Truworths&#8217; stable of high priced formal and glamorous clothing brands.



Announcing details of Truworths&#8217; many new store concepts and brands at a results presentation, group CEO Michael Mark told analysts that the aspirational value-brand, to be called Primark, &#8220;won&#8217;t be at a low margin. We&#8217;re an aspirational business and we prefer higher margins.&#8221;



Truworths Primark brand has no connection to UK&#8217;s AB Foods&#8217; Primark.



The 15 stores will be launched in the next three or four months and the brand is &#8220;strategically aligned with suppliers that can react and respond with short lead times,&#8221; he said.



South African fashion retailers are trying to improve their ability to quickly deliver batches of the latest designs to consumers by producing clothes locally, at a time when retailers are struggling to adapt to changing shopping habits.



In a sign of how retailers are adapting to changing lifestyles in the COVID-19 pandemic, the owner of Identity clothing brand and Earthchild kids brand is also potentially exploring an athleisure brand.



&#8220;We would always see it be fashion orientated rather than very performance orientated but that&#8217;s a work in progress,&#8221; Truworths Africa Deputy Managing Director Sarah Proudfoot said.



Even as Truworths is planning to launch new young shopper-focused and casual brands in the next few months, Mark does not believe that the casual wear trend is here to stay because people will return to offices, attend functions and entertain again.



&#8220;My view is that the trend towards casual wear is a very powerful one but we doubt it&#8217;s permanent. It doesn&#8217;t mean smart, structured formal wear and glamour wear is finished forever, never, it just might not come back so fast,&#8221; he added.



Truworths reported a 7% decline in half-year headline earnings per share on Thursday. (Reporting by Nqobile Dludla; editing by Grant McCool)



(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

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Facebook to restore news pages for Australian users in coming days

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