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<p>The Gauteng provincial government delivered the final budget presentation for the 6th Provincial Administration, Gauteng Finance MEC Jacob Mamabolo on Tuesday tabled a provincial budget for the province of R165.8-billion for the 2024/25 financial year, with a focus on fighting crime and boosting the township economy.</p>


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Gauteng MEC Jacob Mamabolo delivers 2024/25 Provincial Budget (full speech)

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<p>As the internet becomes widely available to educational organizations, online education has exploded in growth and popularity with many educational leaders and policymakers now having access to more data than ever before. How can educational leaders and policymakers in Africa develop the organizational capacity to use the data they collect to improve outcomes for students, educators and the communities?</p>


EdTech Monday: Emerging Technologies in EdTech

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<p>This episode of Top Employers takes a look at Africa’s Top Employer for 2024, multi-national telecoms giant Vodacom on what it took to achieve Top Employers certification. CNBC Africa&#8217;s Zanele Morrison speaks to Matimba Mbungela, Chief Human Resources Officer at Vodacom Group about this newly received accolade.</p>


Top Employers: Vodacom Group’s Mbungela on achieving Top Employer Certification

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<p>The Central Bank of Nigeria says it plans to increase OMO frequency and volumes to mop up liquidity and provide investment opportunities for FPIs. Traders at UBA say market sentiments remain bearish following today’s OMO bill auction. Kenneth Onuoha, Team Member, Assets and Liabilities at UBA joins CNBC Africa for more market updates.</p>


CBN plans to increase OMO frequency to mop up liquidity

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<p>According to the African Union, an estimated 80 million children below five are malnourished. This not only stunts their growth but also hampers their potential contribution to the economy. CNBC Africa&#8217;s Fifi Peters speaks to Dr Akinwumi Adesina, President of the African Development Bank Group; and later with Farayi Zimudzi, Food and Agriculture Organisation&#8217;s Representative in Ethiopia and Beth Dunford, Vice President: Agriculture, Human &#038; Social Development, AfDB Organisation&#8217;s Representative in Ethiopia and AfDB&#8217;s Beth Dunford, Vice President of Agriculture, Human &#038; Social Development, on what it takes to address this.</p>


Focus On: Addressing Malnutrition in Africa

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<p>Lake Chad, a water body responsible for the food security of about 50 million Africans has decreased in size by 92 per cent in recent decades. CNBC Africa&#8217;s Fifi Peters speaks to The African Development Bank’s Marie-Laure Akin-Olugbade, and Lake Chad Basin Commission Executive Secretary, Ambassador Mamman Nuhu on their collaborative efforts to rehabilitate the essential water resource.</p>


Focus On: Restoring Africa’s Lake Chad Basin

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<p>In this episode of Saving Lives and Livelihoods, the team from Africa CDC showcase their coordinated responds during the times when Covid-19 was at its peak.</p>


Africa CDC, Mastercard partner to strengthen Africa’s pandemic preparedness

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<p>On this episode of &#8216;Doing Business in Rwanda&#8217; we explore the pivotal role of the private sector in Rwanda&#8217;s journey towards Vision 2050, focusing on the synergy between public and private sectors across key sectors to drive economic growth.</p>


Rwanda’s Journey Towards Vision 2050

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<p>Analysts at NASD say the interest rate hike by the monetary policy committee is crowding out investors at the unlisted equities market as attention shift to the fixed income market despite its negative real returns on investment. Oludare Fajimolu, the Head of Research and Strategy at NASD, joins CNBC Africa for this discussion.</p>


What will fuel investors interest in unlisted equities market?

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<p>The inaugural UK-Rwanda Business Forum, convened a panel discussion between esteemed figures from both the public and private sectors, to explore the vast opportunities in Rwanda. They engaged in discussions regarding their journey of growth, reflecting on how they&#8217;ve expanded their investments, amplified their impact, and accumulated wealth in the process.</p>


UK-Rwanda Business Forum: Succeeding In Rwanda: Unlocking Growth And Opportunities


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/106892639-1622836826337-bit-1.jpg" alt="" class="wp-image-412818" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/106892639-1622836826337-bit-1.jpg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/106892639-1622836826337-bit-1-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/106892639-1622836826337-bit-1-160x90.jpg 160w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption class="wp-element-caption">Art at the cryptocurrency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami on June 4, 2021.
Marco Bello | AFP | Getty Images</figcaption></figure>



<p>Bitcoin’s all-time high is in sight after the cryptocurrency surpassed $61,000 on Wednesday. However, in many African currencies’ terms, the world’s largest cryptocurrency is already trading at record highs.<br>The flagship crypto rose as high as $61,023.44 on Coindesk, roughly 11% off its November 2021 record of $68,982.20. The latest rally was sparked by the disclosure on Monday that crypto investing and software firm MicroStrategy had bought about 3,000 bitcoins for $155 million.</p>



<p>MicroStrategy, based in Virginia, in the U.S., is currently the largest publicly traded owner of Bitcoin. CNBC.com says the company reported holding about 190,000 of the cryptocurrency tokens earlier this month, which would be worth over $10.5 billion at current prices.</p>



<p>But with many African currencies trading at some of their weakest levels against the dollar because of high U.S. interest rates and an unfavorable global environment, bitcoin prices in local currency terms have been boosted to all-time highs as detailed below:</p>



<iframe title="% return  of $1000's invested in BTC in Naira" aria-label="Bar Chart" id="datawrapper-chart-UbDrd" src="https://datawrapper.dwcdn.net/UbDrd/1/" scrolling="no" frameborder="0" style="border: none;width: 100%;max-width: 600px;" height="192" data-external="1"></iframe>



<h2 class="wp-block-heading" id="h-record-breaking-highs">Record-breaking highs:</h2>



<ul class="wp-block-list">
<li>South African Rand (ZAR): 1 bitcoin is now worth R1,185,530 surpassing the previous record of 1 million ZAR set in 2023.</li>



<li>Kenyan Shilling (KES): Bitcoin skyrocketed to KES 8,972,000, shattering the previous high of 4.5 million KES set in 2021.</li>



<li>Nigerian Naira (NGN): The value of 1 bitcoin reached 96,086,600 NGN, surpassing the previous record of 26 million NGN set in 2021.</li>



<li>Ghanaian Cedi (GHS): Bitcoin hit a new high of 764,866 GHS, eclipsing the previous record of 400,000 GHS set in 2021.</li>



<li>Rwandan Franc (RWF): Bitcoin reached a record high of 79,463,490 RWF, dwarfing the previous record of 3 million RWF set in 2022.</li>
</ul>



<h2 class="wp-block-heading" id="h-how-much-a-1-000-investment-in-bitcoin-would-be-worth">How much a $1,000 investment in Bitcoin would be worth</h2>



<p>For those who invested in Bitcoin as early as 2015, the current surge presents a remarkable return on investment. Consider someone who invested USD 1,000 in Bitcoin in 2015, when the price was around $250. Today, that investment would be worth:</p>



<ul class="wp-block-list">
<li>South Africa: 4,679,000 ZAR</li>



<li>Kenya: 35,624,000 KES</li>



<li>Nigeria: 384,056,000 NGN</li>



<li>Ghana: 3,059,000 GHS</li>



<li>Rwanda: 316,468,000 RWF</li>
</ul>



<p>This is at a time when <a href="https://businessday.ng/africa/article/7-worst-performing-african-currencies-in-2023/">7 out of the 10</a> worst-performing currencies in 2023 are in the African continent.</p>



<h2 class="wp-block-heading" id="h-before-investing-do-your-due-diligence">Before investing, do your due diligence</h2>



<p>It&#8217;s important to remember that the cryptocurrency market is highly volatile, and past performance is not indicative of future results. Investing in Bitcoin carries inherent risks, and individuals should conduct thorough research before making any investment decisions.</p>


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Bitcoin hits record highs in African currencies as it nears all-time highs

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<p>Following the 400 basis points hike in the Monetary Policy Rate by Nigeria’s MPC, analysts expect a further negative impact on the equities market performance in the short term as investors weigh the increased yields in the fixed income market versus the equities market offering. Oluwaseun Dosunmu, Head of Investment Research at Parthian Securities joins CNBC Africa for more on the equities market appeal and near-term outlook.</p>


How MPR hike may affect equities market appeal

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<p>Traders at UBA expect an upward repricing across board with emphasis on the short-dated maturities given the aggressive hawkish stance of the CBN’s Monetary Policy Committee. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA joins CNBC Africa for more market updates.</p>


UBA: CBN’s hawkish stance to drive upward repricing

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<p>The 2024 edition of the Africa Business Forum invited the public and private sector to have an open dialogue about Africa’s efforts to accelerate the 2030 Agenda for sustainable development and the agenda 2063, the Africa we want. This Focus On brings key voices to highlight what needs to be done to boost Africa’s transformation through education, technology, and innovation.</p>


Focus On ABF: Boosting Africa’s Transformation through Education, Science, Technology & Innovation

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<p>Investors at the Treasury Bills market are reacting to the 400-basis point hike in monetary policy rate by the monetary policy committee as traders at Access Bank expect a bearish market sentiment in today&#8217;s trading. Meanwhile, the money market is expected to witness a decline in rates on FAAC inflows. Adamma Mbachu, Team Lead, Currency Trading at Access Bank joins CNBC Africa for this discussion.</p>


T-Bills bearish as investors react to rate hike

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<p>Botswana, the Diamond of Africa, is placed under the microscope in this documentary. We explore the growth opportunities, the journey Botswana walked since independence and what makes Botswana a destination for investment.</p>


MINI_YOUTUBE_PENRESA 01

Botswana: The Diamond of Africa

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<p>With the 400-basis point hike in monetary policy rate to 22.75 per cent by the Monetary Policy Committee of the Central Bank of Nigeria, analysts believe there will be a moderation in inflationary pressures. Speaking on CNBC Africa’s post-MPC panel, Bismarck Rewane, the CEO of Financial Derivative and Nnamdi Nwizu, the Co-Managing Partner at Comercio Partners, say there’ll be a decline with inflationary pressure.</p>


CNBC Africa

Gauteng MEC Jacob Mamabolo delivers 2024/25 Provincial Budget (full speech)

EdTech Monday: Emerging Technologies in EdTech

Top Employers: Vodacom Group’s Mbungela on achieving Top Employer Certification

CBN plans to increase OMO frequency to mop up liquidity

Focus On: Addressing Malnutrition in Africa

Focus On: Restoring Africa’s Lake Chad Basin

Africa CDC, Mastercard partner to strengthen Africa’s pandemic preparedness

Rwanda’s Journey Towards Vision 2050

What will fuel investors interest in unlisted equities market?

UK-Rwanda Business Forum: Succeeding In Rwanda: Unlocking Growth And Opportunities

Bitcoin hits record highs in African currencies as it nears all-time highs

How MPR hike may affect equities market appeal

UBA: CBN’s hawkish stance to drive upward repricing

Focus On ABF: Boosting Africa’s Transformation through Education, Science, Technology & Innovation

T-Bills bearish as investors react to rate hike

Botswana: The Diamond of Africa

Analysts: Aggressive rate hike to moderate inflation

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Advertise With Us

CNBC Africa

Gauteng MEC Jacob Mamabolo delivers 2024/25 Provincial Budget (full speech)

EdTech Monday: Emerging Technologies in EdTech

Top Employers: Vodacom Group’s Mbungela on achieving Top Employer Certification

CBN plans to increase OMO frequency to mop up liquidity

Focus On: Addressing Malnutrition in Africa

Focus On: Restoring Africa’s Lake Chad Basin

Africa CDC, Mastercard partner to strengthen Africa’s pandemic preparedness

Rwanda’s Journey Towards Vision 2050

What will fuel investors interest in unlisted equities market?

UK-Rwanda Business Forum: Succeeding In Rwanda: Unlocking Growth And Opportunities

Bitcoin hits record highs in African currencies as it nears all-time highs

How MPR hike may affect equities market appeal

UBA: CBN’s hawkish stance to drive upward repricing

Focus On ABF: Boosting Africa’s Transformation through Education, Science, Technology & Innovation

T-Bills bearish as investors react to rate hike

Botswana: The Diamond of Africa

Analysts: Aggressive rate hike to moderate inflation

News Tips

Advertise With Us

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