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<p>In its bid to eliminate E-waste in the country, Rwanda established an e-waste recycling facility that has the capacity to process over 7,000 tonnes of electrical and electronic waste every year. The facility is managed by Enviroserve Rwanda Green Park, a subsidiary of the Emirati Company Enviroserve Services LLC Dubai, and it is the second of its kind in Africa&#8230;.</p>


How Rwanda looks to benefit from e-waste recycling

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<p>BTS and Blackpink may be some of South Korea’s most famous cultural exports, but the burgeoning Hallyu industry includes K-beauty brands and even esports, contributing to $12.3 billion worth of exports in 2019. CNBC’s Timothyna Duncan explains how the East Asian nation is riding on the Korean wave for soft power.<br />
&#8212;&#8211;</p>
<p>Subscribe to us on You&#8230;</p>


Why the Korean wave is more than BTS or Blackpink | CNBC Explains

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<p>Overall, it has been a bullish month for Nigerian equities with the All-Share Index appreciating over 14 per cent month-to-date. Itome Edache, Research Analyst at ARM Securities joins CNBC Africa for a recap of this month’s trading at Nigeria’s stock market&#8230;.</p>


NSE All-Share Index delivers resilient performance in November

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<p>There&#8217;s a lot of buzz around self-driving cars, but autonomous-driving technology could revolutionize a different industry first — construction. That industry hasn’t changed much over the last several decades, according to some experts, making it an ideal candidate for automation.</p>
<p>“The way we build today is largely unchanged from the way we used to build 50 years ago,” said Gaurav Kikani, vice president of Built Robotics. “Within two years, I think we’re really going to turn the corner, and you’re going to see an explosion of robotics being used on construction sites.”</p>
<p>The industry is also faced with a labor shortage that the Covid-19 pandemic has further complicated.</p>
<p>“Covid is making people step back and say, ‘hey, the way we’ve been doing things for a long time is just not sustainable,’” said Kevin Albert, founder and CEO of Canvas. “It is just a wake-up call for the industry.”</p>
<p>Canvas is one of several companies working on autonomous construction tec&#8230;</p>


How Autonomous Robots Are Changing Construction

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<p>Invicta’s headline earnings per share from continuing operations have remained flat, dropping 1 per cent. The company’s net asset value per share fell 11 per cent. An interim dividend has not been declared, given the possibility of a second wave of Covid-19 infections. Invicta CEO, Steven Joffe joins CNBC Africa for more.</p>


Invicta withholds dividend amid COVID-19 uncertainties

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<p>Barloworld reported a basic headline loss of 268 cents per share, for the year ended September. This is from headline earnings of 1 100 cents per share, in the prior comparable period. Automotive revenue fell 15 per cent, and logistics revenue declined by 27 per cent. Barloworld CEO, Dominic Sewela joins CNBC Africa for more.</p>


Barloworld reports headline loss due to pandemic

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<p>During the height of the COVID-19 pandemic, the property market saw significant declines in occupancy rates and revenues. Today, the continent seems to have passed the peak of the pandemic and most sectors are bouncing back. So how is real estate faring? Koome Kirimi, CEO of Ardhi Lords Management joins CNBC Africa for more.</p>


How COVID-19 has impacted Africa’s real estate sector

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<p>About 110 rice farmers were killed by Boko Haram in Kwashebe Zambarmari village of Borno State, that&#8217;s according to the United Nations. Meanwhile in Nigeria’s Niger Delta Region, a new coalition of 36 militant groups, called the Continuous Emancipation of Niger Delta, CEND, have made five demands to the government and threatened attacks on oil and gas facilities. Onyekachi Adekoya, Managing Director of PR24 Nigeria joins CNBC Africa for more.</p>


Insecurity raises fresh concerns in Nigeria

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<p>Industry experts discuss, amongst many topics, traditional consumer-facing businesses, consumer spending habits and the rise in e-commerce. Isana Cordier,  Head of Consumer Goods and Services, Absa Corporate and Investment Banking, joins CNBC Africa to unpack this more&#8230;.</p>


Absa on trends shaping consumer spending habits & the rise of e-commerce


<p><strong>Improve financial controls and reduce the opportunities for fraud with Absa’s cash management team</strong></p>



<p>Financial control is a critical business function. With corporate fraud increasing and difficulties introduced by remote working, it becomes even more important. “Financial control is a mechanism businesses can use to detect and prevent fraud,” says John Molanda, head of product innovation at Absa Transactional Banking’s&nbsp;cash management&nbsp;team.</p>



<p>Molanda says more than 60% of SA businesses have been victims of fraud over the past two years, according to the&nbsp;<a href="https://www.pwc.com/gx/en/services/forensics/economic-crime-survey.html" target="_blank" rel="noreferrer noopener">PwC 2020 Global Economic Crime and Fraud Survey</a>. “In most cases, fraud is committed by internal staff,” he says.</p>



<p>After fraud has been detected, companies need to investigate to identify and apprehend the criminal, litigate and try to recover stolen funds. But Molanda says this can cost as much as 10 times the amount of the original fraud, which for some businesses is prohibitive. Prevention is a better option.</p>



<p><strong>Integrate and prevent fraud</strong></p>



<p>One of the best ways to prevent fraud is to improve financial controls by integrating business accounting and banking systems. This can eliminate the weaknesses in traditional banking processes and remove opportunities for fraud.</p>



<p>Richard Stocken, head of cash management product at Absa Transactional Banking, says that as banks invest heavily in providing secure banking systems, the weakness remains at the point when payments are introduced to the banking system. Here, there are opportunities to manipulate supplier bank details so that money is paid into a fraudster’s account.</p>



<p>Stocken says while companies often respond to the risk of fraud by adding more controls, integrating the business’s banking system into their accounting system is a better option.</p>



<p>He gives the example of account verification, which is a quick way to make sure the bank account on an invoice belongs to the issuer of the invoice.</p>



<p>“We find this service is not used often because it sits outside the company’s system in the banking system,” Stocken says. This means staff have to log into the banking system to perform the account verification, and it’s difficult for a finance director to ensure that this is done for all account changes.</p>



<p>“Our advice would be to integrate the verification service directly into your accounting system so that at the time you are changing supplier details, incorrect banking details are automatically identified and fraudulent payments prevented.”</p>



<p>Molanda says business can also mitigate the risk of fraud by integrating payment functionality.</p>



<p>“There is a transition period between staff downloading payment files from their accounting system and uploading them into the banking system. Banking details can be changed in this transition period. If you integrate this functionality you remove the window of opportunity for fraud.”</p>



<p><strong>Integration does more than prevent fraud</strong></p>



<p>“Integrating and automating processes not only reduces vulnerabilities to fraud, it dramatically increases efficiency within a finance department,” Stocken says.</p>



<p>Absa’s cash management team recently worked with a client where the number of employee hours used to make about 1,000 payments each month was reduced from 180 to 30.</p>



<p>“We integrated their banking directly into their accounting system, reducing the number of hours needed and freeing up four of the five employees previously used in the payments process to focus on higher value-adding activities in the business.”</p>



<p>Importantly, Molanda says integration is not just for big businesses.</p>



<p>“Integration used to be difficult and costly, something only large companies with large IT departments could do. Through the evolution of technology such as APIs, the process has become a lot simpler and cheaper. We have invested significantly in API technology and can now offer our clients many integration opportunities.”</p>



<p>“<a href="https://www.absa.africa/media-centre/media-statements/2020/absa-collaborates-with-epic-erp-and-ajs-to-offer-digital-solutions/" target="_blank" rel="noreferrer noopener">Absa has also partnered</a>&nbsp;with different accounting systems and enterprise resource planning systems such as epic ERP and AJS to do the work of integrating so that we are able to offer the benefit to our clients without them investing as much time and capital as would previously have been necessary.”</p>



<p><em>This article was paid for by Absa CIB.</em></p>



<p><br></p>


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Reduce fraud and improve efficiency with Absa’s digital cash management solutions

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<p>Enhancing Financial Innovation and Access; EFINA, has unveiled a framework for advancing financial inclusion for women in Nigeria in collaboration with the Central Bank of Nigeria and the National Financial Inclusion Special Intervention Working Group. EFINA is also calling for proposals from individuals, households and small businesses for its Covid-19 grant, to mitigate the impact of the pandemic. Ashley Immanuel, CEO of EFINA joins CNBC Africa’s Kenneth Igbomor to discuss the objectives of the framework and more.</p>


EFINA partners CBN on framework for advancing women’s financial inclusion

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<p>Ghanaians will head to the polls to elect a new president and 275 members of parliament come Monday the 7th of December.</p>


2020 elections: Assessing the state of Ghana’s democratic institutions

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<p>The Southern Africa Europe CEO Dialogue took place last Friday. The big message was that there is huge untapped potential in the trade relationship between Southern Africa and Europe. While the global economy has been battered by COVID-19, the two regions need to be prepared for the post-COVID-19 phase. Marina Mira d’Ercole, Senior Consultant at The European House Ambrosetti joins CNBC Africa for more.</p>


European House-Ambrosetti on opportunities for Southern Africa & Europe post-COVID-19

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<p>Sub-Saharan Africa this week will be dominated by releases of manufacturing activity data. Today, Kenya and Uganda’s November inflation prints will be published.  Joining CNBC Africa for the latest Sub-Saharan Africa update is Ridle Markus, Africa Strategist at Absa Corporate &#038; Investment Banking&#8230;.</p>


Absa’s Sub-Saharan Africa market review

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<p>The Development Bank of Southern Africa (DBSA) has released its results, for the six months ended September. Development loan disbursements amounted to R9.1 billion, a more than 155 per cent increase from the prior comparable period. The bank continues to play an important role in South Africa’s infrastructure development. DBSA CFO, Boitumelo Mosako joins CNBC Africa for more.</p>


DBSA loan disbursements rise by more than 155%

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<p>Energy and Petroleum Regulatory Authority agreed to Kenya Power&#8217;s tariff hike of at least 20 per cent. If implemented, the higher tariffs will aid Kenya Power’s turnaround efforts, but hurt household budgets and raise the already high cost of doing business in Kenya. Ken Gichinga, Chief Economist at Mentoria Economics joins CNBC Africa for more.</p>


Kenya Power tariff hike: Here’s why it’s time to shift to renewable energy

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<p>It has been noted that tax administrations not only in the region but across the continent need to embrace technological solutions to ensure they meet revenue targets and enhance compliance amongst the tax base. Economic Analyst Odhiambo Ramogi joins CNBC Africa for more.</p>


Newsletter

How Rwanda looks to benefit from e-waste recycling

Why the Korean wave is more than BTS or Blackpink | CNBC Explains

NSE All-Share Index delivers resilient performance in November

How Autonomous Robots Are Changing Construction

Invicta withholds dividend amid COVID-19 uncertainties

Barloworld reports headline loss due to pandemic

How COVID-19 has impacted Africa’s real estate sector

Insecurity raises fresh concerns in Nigeria

Absa on trends shaping consumer spending habits & the rise of e-commerce

Reduce fraud and improve efficiency with Absa’s digital cash management solutions

EFINA partners CBN on framework for advancing women’s financial inclusion

2020 elections: Assessing the state of Ghana’s democratic institutions

European House-Ambrosetti on opportunities for Southern Africa & Europe post-COVID-19

Absa’s Sub-Saharan Africa market review

DBSA loan disbursements rise by more than 155%

Kenya Power tariff hike: Here’s why it’s time to shift to renewable energy

How the EAC can leverage technology to meet revenue targets

News Tips

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Newsletter

How Rwanda looks to benefit from e-waste recycling

Why the Korean wave is more than BTS or Blackpink | CNBC Explains

NSE All-Share Index delivers resilient performance in November

How Autonomous Robots Are Changing Construction

Invicta withholds dividend amid COVID-19 uncertainties

Barloworld reports headline loss due to pandemic

How COVID-19 has impacted Africa’s real estate sector

Insecurity raises fresh concerns in Nigeria

Absa on trends shaping consumer spending habits & the rise of e-commerce

Reduce fraud and improve efficiency with Absa’s digital cash management solutions

EFINA partners CBN on framework for advancing women’s financial inclusion

2020 elections: Assessing the state of Ghana’s democratic institutions

European House-Ambrosetti on opportunities for Southern Africa & Europe post-COVID-19

Absa’s Sub-Saharan Africa market review

DBSA loan disbursements rise by more than 155%

Kenya Power tariff hike: Here’s why it’s time to shift to renewable energy

How the EAC can leverage technology to meet revenue targets

News Tips

Advertise With Us

Newsletters