Absa’s Ridle Markus on the impact of COVID-19 on SSA economies
11 hours ago
As South Africa and Nigeria’s government deliberates on easing lock-down restrictions and re-opening the economy, the bank of Ghana has left rates unchanged and the South African reserve bank is expected to cut rates again this week, for the third time this year. Joining CNBC Africa to unpack the Covid-19 economic ramifications on Sub-Saharan African economies is Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking.
Food waste: Turning trash into treasure
11 hours ago
As people across the globe stay home amid the coronavirus pandemic, residential trash has increased dramatically. While on average households used to cook once or twice a day, many are now making at least three meals on a daily basis, generating along the way an abundant yet unexploited resource: food waste.
AfCFTA: COVID-19 as an opportunity to deepen intra-Africa trade
2 days ago
The acting Executive Director of the International Trade Centre, Dorothy Tembo says the coronavirus pandemic could represent a risk for the Africa Continental Free Trade Agreement, but African leaders could also turn that into an opportunity for stronger collaboration if specific policies are fast-tracked. She joins CNBC Africa’s Kenneth Igbomor for more insight on this discussion.
FDC forecasts 0.69% rise in Nigeria’s inflation to 12.95% in April
2 days ago
Financial Derivatives say they expect a 0.69 per cent rise in Nigeria’s headline inflation to 12.95 per cent year-on-year this April. Damilola Akinbami, Head of Research at Financial Derivatives joins CNBC Africa to breakdown their inflation expectations.
Oil prices rise as COVID-19 lock-downs start to ease
4 days ago
Oil prices have climbed up in recent times driven by relaxed coronavirus restrictions and lock-downs in some countries which have allowed some businesses and factories to resume operations. The market was also supported by Saudi Arabia’s decision to further deepen its output cut. Rolake Akinkugbe-Filani, Managing Director of Energyinc Advisors joins CNBC Africa to focus on the global oil market and its implication for Nigeria.
EU new car sales collapse 76% in April
New car registrations in the European Union fell by 76 percent in April, the largest fall on record, as lockdown measures hit production and sales. Figures from the European Automobile Manufacturers Association show the slump was particularly pronounced in Spain and Italy, where registrations fell by over 97 percent. Also today, the UK saw a jump in unemployment claims in April, despite 7.5 million workers being covered by the British government's pandemic income support scheme.