
<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://p0.pxfuel.com/preview/1021/382/489/oil-rig-industry-oil.jpg" alt="oil rig, industry, oil, sky, fuel and power generation, oil industry,  nature, clear sky, silhouette, fossil fuel | Pxfuel" width="709" height="474"/><figcaption>Oil Rig: Image via Pxfuel</figcaption></figure>



<p>Finance and health ministers from the world&#8217;s 20 biggest economies (G20) said on Friday they would take steps to ensure 70% of the world&#8217;s population is vaccinated against COVID-19 by mid-2022 and created a task force to fight future pandemics.</p>



<p>They could not reach agreement on a separate financing facility proposed by the United States and Indonesia, but said the task force would explore options for mobilising funds to boost pandemic preparedness, prevention and response.</p>



<p>&#8220;To help advance toward the global goals of vaccinating at least 40 percent of the population in all countries by the end of 2021 and 70 percent by mid-2022 &#8230; we will take steps to help boost the supply of vaccines and essential medical products and inputs in developing countries and remove relevant supply and financing constraints,&#8221; the G20 ministers said in a communique seen by Reuters.</p>



<p>The previous goal had eyed vaccinating 70% of the world&#8217;s population by the autumn of 2022.</p>



<p>&#8220;We establish a G20 Joint Finance-Health Task Force aimed at enhancing dialogue and global cooperation on issues relating to pandemic prevention, preparedness and response, promoting the exchange of experiences and best practices, developing coordination arrangements between Finance and Health Ministries, promoting collective action, assessing and addressing health emergencies with cross-border impact and encouraging effective stewardship of resources,&#8221; the statement said.</p>



<p>The ministers said they were setting up the new body because the COVID-19 pandemic had exposed &#8220;significant shortcomings&#8221; in the world’s ability to coordinate its response.</p>



<p>They pledged to support &#8220;all collaborative efforts&#8221; to provide access to safe, affordable, quality and effective vaccines, therapeutics, diagnostics, and personal protective equipment, particularly in low- and middle-income countries.</p>



<p>To reach the vaccination goals, they said they would work to boost the supply of vaccines and essential medical products and inputs in developing countries, while removing constraints on supply and financing, but gave no specific details.</p>



<p>They also called for boosting the resilience of supply chains through voluntary technology transfer hubs in various regions, such as the newly established mRNA Hubs in South Africa, Brazil and Argentina, and through joint production and processing arrangements.</p>



<p>The call for a voluntary mRNA technology transfer means that talks on the idea of a temporary waiver of intellectual property rights on COVID-19 vaccines and therapies &#8211; originally proposed by South Africa and India and now championed by the United States &#8211; remain stuck at the World Trade Organisation.</p>



<p>German Finance Minister Olaf Scholz said the G20 had not discussed patents.</p>



<p>&#8220;We have a lot of vaccines available worldwide but the reality is there are still areas in the world where the share of those vaccinated is very low,&#8221; Scholz told journalists on the sidelines of the summit.</p>



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OPEC+ expected to stay the course on oil output plans

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<p>The Tanzania Railways Corporation announced it will receive the first batch of electric trains it had ordered by November this year after signing a deal with a South Korean company, Hyundai Rotem.   This comes as Tanzania plans to modernise its railroads. Economic Analyst Gabriel Mwang’onda spoke to CNBC Africa for more.</p>


Tanzania to receive first 42 Korean electric trains by November

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<p>The private sector in Rwanda has expressed optimism that intra-trade and investment between Rwanda and Tanzania will significantly grow after a state visit by Tanzanian President Samia Suluhu Hassan. CNBC Africa spoke with the Chairman of Rwanda&#8217;s Private Sector Federation, Robert Bapfakurera for more.</p>


Rwanda: Private sector optimistic after President Suluhu’s visit

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<p>Foreign investors pulled out $10 million from the Nairobi Securities Exchange in July, marking the sixth straight month of net-selling despite the prevailing rise in the market wealth. Economic Analyst Aly-Khan Satchu spoke to CNBC Africa for more.</p>


Foreign investors at NSE pull out $10mn in July

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<p>From the 23rd of August, countries will be able to take advantage of the general allocation of Special Drawing Rights valued at $650 billion , which was approved by the Board of Governors of the IMF. This is the largest SDR allocation in the history of the IMF for members to address the long-term global need for reserves. Tajudeen Ibrahim, Senior Vice President Head of Research at Chapel Hill Denham joins CNBC Africa for more.</p>


IMF $650bn Special Drawing Rights – What are the implications for Nigeria?

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<p>With Nigeria&#8217;s new FX policy in place, the Manufacturers Association of Nigeria say the new policy may address the activities of the Bureau De Change operators but have also asked that banks provide a seamless process for the timely execution of FX application by manufacturers. Segun Ajayi Kadir, Director-General of Manufacturers Association of Nigeria joins CNBC Africa for more.</p>


M.A.N: CBN’S FX policy should support manufacturing

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<p>Okomu Oil Palm recorded a 74.6 per cent rise in half-year revenue, with post-tax profits for the period also rising by 138 per cent. CEO of Okomu Oil Palm Graham Hefer joins CNBC Africa to break down the drivers of their earnings.</p>


Okomu Oil Palm  half-year profit up 138%

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<p>Engineering workers affiliated to metal workers union Numsa have threatened to go on strike over a wage dispute with employers in the sector.</p>


Numsa threatens industrial action in steel and engineering sector

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<p>Almost 80 per cent  of Africa&#8217;s C-suite executives are optimistic about business growth this year. This is according to Mazars Global C-suite Barometer. This view is supported by the short term strategies that the surveyed businesses have implemented. Anoop Ninan, Co-CEO at Mazars joins CNBC Africa for more.</p>


Majority of Africa’s C-suite executives optimistic about growth outlook

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

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<p>According to the Uganda Bureau of Statistics, the country&#8217;s economy increased to about $42.4 billion in the 2020/21 financial year $39.9 billion in the financial year 2019/20. The industry sector&#8217;s contribution increased to 16 per cent i in the 2020/21 financial year. Daniel Birungi, Executive Director at the Uganda Manufacturing Association spoke to CNBC Africa on building resilience and how the sector is navigating the storm.</p>


COVID-19: UMA’s Birungi on how to build resilience in Uganda’s manufacturing sector

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<p>The Government of Rwanda has successfully raised $620 million through the issuance of a 10-year Eurobond, the country’s Finance Ministry announced on August 2. The sale of new debt generated more than $ 1.6 billion in orders. Are investors increasingly interested in Rwanda? Kevin Daly, Fund Manager at Aberdeen Standard Investments spoke to CNBC Africa’s Julius Bizimungu for more.</p>


Making sense of Rwanda’s latest $620mn Eurobond issue

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<p>Royal Bafokeng Platinum reported a 446 per cent jump in headline earnings per share, for the six months ended June. This is from the previous comparable period. The company&#8217;s earnings were supported by strong metal prices and growth in the business. Royal Bafokeng Platinum CEO, Steve Phiri joins CNBC Africa for more.</p>


Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

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<p>The buy now pay later online shopping model is adding more variety to online shopping and to the credit landscape. The trend has gained popularity in places like Europe and the US, with some big investors buying into the space. But what is the situation looking like in Africa? Payflex CEO, Paul Behrmanni joins CNBC Africa for more.</p>


How the ‘buy now pay later’ model is changing the credit landscape

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<p>There is an increased demand for clean for clean and renewable energy sources on the continent though this is hampered by the lack of enough investment in the sector. CNBC Africa spoke to Vivian Neal, CEO of Kalahari Energy for more.</p>


How can investment in geothermal solve energy shortfall?

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<p>Kenya’s banking industry balance sheet size expanded by 12.4 per cent in 2020 to Ksh5.4 trillion from Ksh4.8 trillion in 2019. This is according to the Kenya Bankers Association’s State of the Banking Industry Report 2021. Samuel Tiriongo, Director of the Kenya Banker&#8217;s Association Centre for Research on Financial Markets and Policy joins CNBC Africa for more.</p>


Kenya’s banking industry sees strong growth in 2020

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<p>As Africa moves to deepen trade on the continent and its global partners, a complementary industry to drive this vision is the global shipping space. Captain Rahul Khanna says the shipping sector has shown great resilience through the pandemic as evidenced by the strong trade volumes. He is the Global Head of Marine Risk Consulting at Allianz Global Corporate and Specialty joins CNBC Africa to discuss the trends in that space.</p>


AGCS: Global ship losses decline 50% over 10 years

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<p>MTN Nigeria&#8217;s service revenue rose by 24 per cent in the first half of this year. The company&#8217;s revenue from data grew by 48.3 percent, while its fintech revenues also grew by 48.2 per cent as active subscriber base crosses the 6.1 million mark.  This year the mobile network operator will mark 20 years of operations in Nigeria and Chief Financial Officer at MTN Nigeria, Modupe Kadri  joins CNBC Africa for more.</p>


Reuters

OPEC+ expected to stay the course on oil output plans

Tanzania to receive first 42 Korean electric trains by November

Rwanda: Private sector optimistic after President Suluhu’s visit

Foreign investors at NSE pull out $10mn in July

IMF $650bn Special Drawing Rights – What are the implications for Nigeria?

M.A.N: CBN’S FX policy should support manufacturing

Okomu Oil Palm half-year profit up 138%

Numsa threatens industrial action in steel and engineering sector

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

COVID-19: UMA’s Birungi on how to build resilience in Uganda’s manufacturing sector

Making sense of Rwanda’s latest $620mn Eurobond issue

Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

How the ‘buy now pay later’ model is changing the credit landscape

How can investment in geothermal solve energy shortfall?

Kenya’s banking industry sees strong growth in 2020

AGCS: Global ship losses decline 50% over 10 years

MTN Nigeria service revenue rises 24% in H1

News Tips

Advertise With Us

Reuters

OPEC+ expected to stay the course on oil output plans

Tanzania to receive first 42 Korean electric trains by November

Rwanda: Private sector optimistic after President Suluhu’s visit

Foreign investors at NSE pull out $10mn in July

IMF $650bn Special Drawing Rights – What are the implications for Nigeria?

M.A.N: CBN’S FX policy should support manufacturing

Okomu Oil Palm half-year profit up 138%

Numsa threatens industrial action in steel and engineering sector

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

COVID-19: UMA’s Birungi on how to build resilience in Uganda’s manufacturing sector

Making sense of Rwanda’s latest $620mn Eurobond issue

Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

How the ‘buy now pay later’ model is changing the credit landscape

How can investment in geothermal solve energy shortfall?

Kenya’s banking industry sees strong growth in 2020

AGCS: Global ship losses decline 50% over 10 years

MTN Nigeria service revenue rises 24% in H1

News Tips

Advertise With Us

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