<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="625" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-820x625.jpg" alt="" class="wp-image-557334" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-820x625.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-300x229.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-118x90.jpg 118w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-768x585.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-1536x1170.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



Bluesky has surged in popularity since the presidential election earlier this month, suddenly becoming a competitor to Elon Musk’s X and Meta’s Threads. But CEO Jay Graber has some cautionary words for potential acquirers: Bluesky is “billionaire proof.”



In an interview on Thursday with CNBC’s “Money Movers,” Graber said Bluesky’s open design is intended to give users the option of leaving the service with all of their followers, which could thwart potential acquisition efforts.



“The billionaire proof is in the way everything is designed, and so if someone bought or if the Bluesky company went down, everything is open source,” Graber said. “What happened to Twitter couldn’t happen to us in the same ways, because you would always have the option to immediately move without having to start over.”



Graber was referring to the way millions of users left Twitter, now X, after Musk purchased the company in 2022. Bluesky now has over 21 million users, still dwarfed by X and Threads, which Facebook’s parent debuted in July 2023.



X and Meta didn’t immediately respond to requests for comment.



Threads has roughly 275 million monthly users, Meta CEO Mark Zuckerberg said in October. Although Musk said in May that X has 600 million monthly users, market intelligence firm Sensor Tower estimates 318 million monthly users as of October.



Bluesky was created in 2019 as an internal Twitter project during Jack Dorsey’s second stint as CEO, and became an independent public benefit corporation in 2022. In May of this year, Dorsey said he is no longer a member of Bluesky’s board.



“In 2019, Jack had a vision for something better for social media, and so that’s why he chose me to build this, and we’re really thankful for him for setting this up, and we’ve continued to carry this out,” said Graber, who previously founded Happening, a social network focused on events. “We’re building an open-source social network that anyone can take into their own hands and build on, and it’s something that is radically different from anything that’s been done in social media before. Nobody’s been this open, this transparent and put this much control in the users hands.”



Part of Bluesky’s business plan involves offering subscriptions that would let users access special features, Graber noted. She also said that Bluesky will add more services for third-party coders as part of the startup’s “developer ecosystem.”



Graber said Bluesky has ruled out the possibility of letting advertisers send algorithmically recommended ads to users.



“There’s a lot on the road map, and I’ll tell you what we’re not going to do for monetization,” Graber said. “We’re not going to build an algorithm that just shoves ads at you, locking users in. That’s not our model.” Bluesky has previously experienced major growth spurts. In September, it added 2 million users following X’s suspension in Brazil over content moderation policy violations in the country and related legal matters.



In October, Bluesky announced that it raised $15 million in a funding round led by Blockchain Capital. The company has raised a total of $36 million, according to Pitchbook.

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Bluesky CEO Jay Graber says X rival is ‘billionaire proof’

Quantum computers pose great risks but their potential could change the world

How Honda Is Trying To Be Cool Again

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="555" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/51993583140_693261c881_o-820x555.jpeg" alt="" class="wp-image-557103" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/51993583140_693261c881_o-820x555.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/51993583140_693261c881_o-300x203.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/51993583140_693261c881_o-133x90.jpeg 133w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/51993583140_693261c881_o-768x520.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/51993583140_693261c881_o-1536x1039.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/51993583140_693261c881_o-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Isatu Mustapha Conteh (24 years) shows a mosquito net she received after a visit to Mawoma Health Clinic, Port Loko, Sierra Leone on 10th August 2021. Isatu is a student and is holding her only child Rachel Zainab Koroma (7 months).</figcaption></figure>



Authored by, Honourable Khumbize Kandodo Chiponda, MP, Minister of Health in Malawi  and Dr. Michael Charles Adekunle Charles, CEO RBM Partnership to End Malaria



For years, concerted efforts by African nations, backed by international donors, have made remarkable strides in reducing malaria cases and deaths, bringing us closer to the goal of a malaria-free world. However, this hard-won progress is now at a tipping point, with new threats looming and insufficient funding. Without increased commitments from key stakeholders, our fight against malaria may falter, endangering millions.



As the next Global Fund replenishment round approaches, the need for support from G7 nations has never been more urgent. Countries such as Nigeria (accounting for 31% of malaria cases), the Democratic Republic of Congo (12%), Niger (6%), and Tanzania (4%), alongside <a href="https://www.unicef.org/malawi/stories/nipping-malaria-bud">Malawi which ranks among the top 15 countries most affected countries</a>, are already severely impacted by this disease.



Currently, we face <a href="https://alma2030.org/heads-of-state-and-government/african-union-malaria-progress-reports/2023-africa-malaria-progress-report/">a funding gap of $1.5 billion</a> just to maintain essential malaria services; without this, cases and deaths will inevitably rise. An additional $5.2 billion is needed annually to make meaningful progress towards the elimination of malaria. Beyond this, the wider health sector urgently needs $11 billion to adapt to the impacts of climate change. It is crucial that we act now to prevent further escalation, especially as the full extent of its potential impact is still unknown.



The recent report from the RBM Partnership to End Malaria, in collaboration with the Malaria Atlas Project, warns of dire consequences if funding declines. If current funding levels are simply maintained, Africa could see an additional <a href="https://endmalaria.org/news/malaria-kill-300000-more-people-if-critical-funding-not-received">112 million malaria cases and up to 280,000 more deaths between 2027 and 2029</a>.This projection is the likely result based on a “perfect storm” of challenges with implementing tools, rising biological threats, and a worsening climate.



Across the continent, countries such as Malawi already face the brunt of this disease. <a href="https://www.who.int/publications/i/item/9789240086173">According to the 2023 World Malaria report</a>, Malawi recorded an estimated 4,472,000 million cases in 2022. As we discuss scale of malaria cases, it’s clear that without substantial, predictable funding, the resurgence of malaria will disproportionately affect vulnerable groups, especially women and children, who are at the highest risk in our country. &nbsp;The toll on these groups is devasting, not just in terms of health but also through disrupted education and limitations on the caregivers’ ability to participate in the workforce. Beyond this, the broader economic impacts are severe, with malaria limiting productivity, driving up healthcare costs, and hindering growth &#8211; ultimately stalling Africa&#8217;s potential.



Over the last two decades, we have seen that great progress can be made in the fight against malaria, with sustained funding. However, the reality is that when resources dip, malaria resurges with devastating speed. Recent research findings have projected that if there is a cut to malaria funding, <a href="https://endmalaria.org/news/malaria-kill-300000-more-people-if-critical-funding-not-received">this could lead to an estimated 137.2 million additional malaria cases and up to 337,000 additional malaria deaths</a>. Ultimately, robust and predictable funding is critical not only to sustain current interventions but to incorporate innovative tools such as advanced medicines, vaccines, and vector control strategies that could finally eliminate this disease.



While G7 pledges are essential, domestic financing in malaria-endemic countries also remains a critical pillar in the fight. We are proud that African nations have been demonstrating their resolve to combat malaria through significant increases in health funding, despite economic challenges. <a href="https://alma2030.org/heads-of-state-and-government/african-union-malaria-progress-reports/2023-africa-malaria-progress-report/">Zambia and Benin have made remarkable strides, for instance, boosting their health budgets by 174% and 140%</a> respectively between 2021 and 2023. But national efforts can only go so far; 70% of malaria funding usually comes from external donors, highlighting the importance of sustained international backing to complement local efforts.



African nations today remain at the epicentre of the global malaria burden, with countries like Nigeria alone accounting for nearly half of all cases. However, the prevalence of malaria in these regions does not mean that it will always be contained. &nbsp;We can’t be complacent; if not, without immediate, decisive action, malaria could spread beyond Africa, potentially reaching new regions including Europe and spreading further in the USA.



Malaria is a solvable crisis. The progress we&#8217;ve made over the last two decades proves we have the tools and knowledge to eliminate this disease. As the Health Minister of Malawi, we urge the G7 nations to rise to this challenge. The path to a malaria-free world is clear, but only if we act now with resolve, commitment, and unity.

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Keeping up the fight – A renewed push for replenishment commitments

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3299" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/YHAEHYTU3FKTXKQPXGYAMT4ESQ.avif" alt="" class="wp-image-557099"/><figcaption class="wp-element-caption">The logo of South Africa&#8217;s central reserve bank is seen during the delivery of a keynote address by South Africa&#8217;s central bank governor, Lesetja Kganyago, at the University of the Witwatersrand in Johannesburg, South Africa, November 1, 2022. REUTERS/Siphiwe Sibeko/File photo</figcaption></figure>



PRETORIA, Nov 21 (Reuters) &#8211; South Africa&#8217;s central bank opted for another small cut to its main interest rate on Thursday, stressing the global economic backdrop was tough and the outlook highly uncertain despite domestic inflation falling below its target.



The decision to lower the repo rate by 25 basis points (bps) to 7.75% was unanimous, with the Monetary Policy Committee not discussing a larger 50 bps cut, South African Reserve Bank Governor Lesetja Kganyago told reporters.



The majority of economists in a Reuters poll published last week had predicted a 25 bps cut, the same size of cut as in September.



Annual inflation slowed sharply to 2.8% in October, its lowest level in over four years, dropping below the central bank&#8217;s 3% to 6% target range.



&#8220;The Committee agreed that reducing the level of policy restrictiveness is still consistent with achieving the inflation target. The risk outlook, however, requires a cautious approach,&#8221; Kganyago said.



&#8220;Global interest rates could well shift higher again, and the recent rand depreciation demonstrates how rapidly changes in the global environment can affect South Africa.&#8221;



Alongside other emerging market currencies, the rand has sold off since Donald Trump&#8217;s U.S. election win, losing more than 3% against the dollar.



(Reporting by Tannur Anders, Bhargav Acharya and Kopano Gumbi; Editing by Alexander Winning)

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South African central bank trims key rate but stresses tough backdrop

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-820x547.jpg" alt="" class="wp-image-521585" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The headquarters of the National Bank of Rwanda, Rwanda&#8217;s central bank, in the Nyarugenge district of Kigali, Rwanda on Thursday, July 20, 2023. The World Bank cut Rwanda&#8217;s GDP growth estimate to 5.8% from 6.2%, as it expected flooding during April and May to result in slowed economic expansion. Photographer: Bing Guan/Bloomberg via Getty Images</figcaption></figure>



KIGALI, Nov 21 (Reuters)&nbsp;&#8211;&nbsp;Rwanda&#8217;s central bank held its key interest rate at 6.5% on Thursday after cutting it at the last two rate decisions this year.



Governor John Rwangombwa told reporters that the decision was based on uncertainties in the performance of the agriculture sector and that the central bank felt its policy stance could keep inflation within its 3%-8% target range.



&#8220;We think for now (the rate) is good enough to maintain inflation within our band,&#8221; he told a news conference.



Annual inflation has remained under 6% this year and stood at 3.8% in October.



The decision follows a 50-basis-point cut to the National Bank of Rwanda&#8217;s Central Bank Rate in August, and a similar-sized cut in May.



(Reporting by Philbert Girinema; Writing by Hereward Holland; Editing by Alexander Winning)

Rwandan Economy as World Bank Cuts Growth Estimate on Floods

Rwanda central bank maintains key rate, sees inflation within target

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429-1.jpg" alt="" class="wp-image-534014" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429-1.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429-1-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429-1-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429-1-768x402.jpg 768w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the cashier’s booth at a forex exchange bureau in Kenya’s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Nov 21 (Reuters) &#8211; The Kenyan shilling was steady on Thursday as dollar inflows from exports matched rising demand from the manufacturing sector, one trader said.



The shilling traded at 129.00/130.00 at 06:52 GMT, according to LSEG data, the same as Wednesday&#8217;s closing rate.



The East African currency weakened slightly in the past week, after remaining rangebound since early August.



(Reporting by Sonia Rao; Editing by Hereward Holland)

LYEEWJTJKRPK3GJPCKWFP3EK7E

Kenyan shilling steady as export dollar inflows match rising demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Nov 21 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday.



<h2 class="wp-block-heading" id="h-economic-event">ECONOMIC EVENT</h2>



The South African Reserve Bank to announce interest rate decision



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



South Africa&#8217;s Mr Price profit rises in first half on better Q2 sales



South Africa&#8217;s Investec to release half-year results



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand slipped on Wednesday against a buoyant dollar, despite inflation dropping to its lowest level in more than four years, and as investors geared up for a policy announcement by the central bank on Thursday.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 0.8% up.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian equities fell on Thursday after AI darling Nvidia disappointed investors with slower revenue growth expectations, while the dollar firmed and bitcoin hit a record high, buoyed by hopes about U.S. President-elect Donald Trump&#8217;s policies.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



The tech-heavy Nasdaq closed lower on Wednesday, taking a break from the prior session&#8217;s rally as investors worried about escalating Russia-Ukraine tensions and weak results from Target, while awaiting earnings from megacap Nvidia that landed after the bell.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold prices rose for a fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while investors awaited remarks from U.S. Federal Reserve policymakers on the interest rate outlook. 



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; SA’s international finance pledges for its energy transition now over $13bn



&#8211; Tiger Brands simplifies portfolio with sale of Elizabeth Anne’s



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



&#8211; Drive-outs, not buy-outs: Ninety One sees competition driving consolidation despite R5bn Sanlam deal



&#8211; COP29 | SA upbeat on mitigation deal despite staunch opposition



(Compiled by Bhargav Acharya)

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South African Markets – Factors to watch on Nov 21

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



Nov 21 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Senegal to announce results of parliamentary elections. The ruling Pastef party is expected to secure a majority.



Rwanda&#8217;s central bank is due to announce its latest repo rate decision. In August, the bank lowered its key interest rate by 50 basis points to 6.5%.



Kenya&#8217;s President William Ruto will deliver a State of the Nation address to a joint session of parliament, following months of political turmoil.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian equities fell on Thursday after AI darling Nvidia disappointed investors with a subdued revenue forecast, while the dollar firmed and bitcoin hit a record high in anticipation of U.S. President-elect Donald Trump&#8217;s proposed policies.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand slipped on Wednesday against a buoyant dollar, despite inflation dropping to its lowest level in more than four years, and as investors geared up for a policy announcement by the central bank on Thursday.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling strengthened slightly on Wednesday, data from the London Stock Exchange Group showed.



<h2 class="wp-block-heading" id="h-mali-politics">MALI POLITICS</h2>



Mali&#8217;s Prime Minister Choguel Maiga has been fired, state television ORTM said on Wednesday of the civilian who criticised the ruling junta&#8217;s failure to organise elections within a promised 24-month transition back to democracy.



<h2 class="wp-block-heading" id="h-uganda-politics">UGANDA POLITICS</h2>



A veteran Ugandan opposition politician was kidnapped during a book launch in Kenya at the weekend, transferred to Uganda and is being held at a military jail in the capital, his wife said on Wednesday.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Nov 21

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-820x461.jpeg" alt="" class="wp-image-556953" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb.jpeg 1858w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Getty Images</figcaption></figure>



Bitcoin breached the $95,000 level for the first time Wednesday evening as investors continued pricing in a second Donald Trump presidency.



The price of the flagship cryptocurrency was last higher by more than 3% at $97,646.68, according to Coin Metrics. Earlier, it rose as high as $97,788.00.



Shares of MicroStrategy, a bitcoin proxy, gained 3% in extended trading. Mining stocks rose as well, with Mara Holdings up 4%.



Bitcoin has been regularly hitting fresh records this month on hopes that Trump will usher in a golden age of crypto, which would include more supportive regulation for the industry and a potential national strategic bitcoin reserve or stockpile.



It is widely expected to reach $100,000 this year and double by the end of 2025.



“Bitcoin’s price continues to be driven by a number of factors including improved liquidity conditions, increased institutional adoption, and a regulatory environment that has flipped from a headwind to a tailwind,” said Sam Callahan, an analyst at Swan Bitcoin.



Another Trump term also implies larger budget deficits, potentially more inflation and changes to the international role of the dollar – all things that would have a positive impact on the&nbsp;price of bitcoin.



Bitcoin has gained more than 127% in 2024.

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Bitcoin climbs, reaching a new all-time high above $97,000

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3271" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/6O5Q2NTHUVPPPMS2HHSHYSFF2Q.avif" alt="" class="wp-image-556950"/><figcaption class="wp-element-caption">Members of the South African National Defence Force (SANDF), part of the Southern African Development Community (SADC) military mission for eastern Congo, in Goma, North Kivu province of the Democratic Republic of Congo February 20, 2024. REUTERS/Arlette Bashizi/File Photo</figcaption></figure>



HARARE, (Reuters) &#8211; Southern Africa&#8217;s regional bloc on Wednesday extended by a year its troop deployment in Democratic Republic of Congo, where it is helping the government fight rebel groups.



The Southern African Development Community (SADC) deployed the mission in Congo, a major producer of metals like cobalt and copper, in December 2023 with a one-year mandate.



A communique issued after regional leaders met in Zimbabwe&#8217;s capital Harare expressed concern at the security and humanitarian situation in Congo and reiterated the bloc&#8217;s support for the government.



Congo is one of SADC&#8217;s 16 member states.



&#8220;Summit extended the mandate of the SADC Mission in the Democratic Republic of Congo by one year, continuing the regional response to address the prevailing unstable security situation,&#8221; the communique said.



Conflict in Congo&#8217;s restive east has raged for decades between a myriad of rival armed groups over land and resources.



Hundreds of thousands of people have been killed and millions displaced in the fighting, which has continued despite numerous ceasefires.



(Reporting by Nyasha Chingono; Writing by Tannur Anders; Editing by Alexander Winning)

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Southern African bloc extends troop deployment in Congo by a year

The tech startup disrupting traditional pregnancy care

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3514" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/YSGCGBAO75MLPM4PMTIL4T6X4E-1.avif" alt="" class="wp-image-556691"/><figcaption class="wp-element-caption">Toyota Motor Corporation&#8217;s bZ SDN is pictured after a briefing on the company&#8217;s strategies on battery EVs in Tokyo, Japan December 14, 2021. REUTERS/Kim Kyung-Hoon/File photo</figcaption></figure>



NAIROBI/BAKU, Nov 20 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;As the evening rush hour descends upon Nairobi, Kenyan motorcycle taxi driver Kariuki Mwangi skilfully weaves through the congestion on his electric bike, acutely aware that a quiet revolution is humming beneath him.



His emissions-free two-wheeler is at the forefront of a movement sweeping across several African cities, where ambitious initiatives are propelling the shift towards cleaner public transport.



&#8220;This bike is more efficient than the fuel bikes. It doesn&#8217;t need to be serviced regularly, the charging cost is cheaper than fuel and it&#8217;s a quiet, smooth and comfortable ride,&#8221; said Mwangi, 38, who bought his electric bike a year ago.



&#8220;If we don&#8217;t take care of our environment, where will we go? We don&#8217;t have any other planet.&#8221;



Africa&#8217;s electric vehicle (EV) sector has mushroomed in recent years with governments and startups in Kenya, Rwanda, Uganda and South Africa, among others, embracing e-mobility.



However, challenges in accessing investment have slowed the pace of transition and many in the electric mobility sector are looking to the COP29 climate summit in Baku, Azerbaijan, to kick-start momentum.



Prince Mustapha Audu, CEO of the Electric Motor Vehicle Company, one of the biggest e-mobility firms in Nigeria which has sold about 10,000 vehicles this year, is attending&nbsp;the&nbsp;annual U.N. climate summit for the fifth time.



&#8220;When you come to COP, a lot of good things are said, but the follow up &#8211; that&#8217;s always been challenging,&#8221; he said.



Audu said momentum was growing, with new initiatives supported by development finance institutions, but he wants more government commitments such as new infrastructure, targets to replace polluting vehicles, or supply agreements for EV taxis.



&#8220;That&#8217;s the kind of transaction that will set you on the right path,&#8221; Audu said. &#8220;The government needs to take an active step in these companies and to push them.&#8221;



The International Organisation of Motor Vehicle Manufacturers estimates Africa&#8217;s vehicle population surged to more than 60 million in 2020, a 17% increase from 2015.



While more transport has increased economic opportunities for millions of people, it has also led to a rise in carbon dioxide emissions and a fall in air quality.



The transport sector was responsible for 43% of Africa&#8217;s CO2 emissions in 2022, according to the International Energy Agency, while studies in cities such as Nairobi have found vehicles accounted for 40% of the air pollution.



Overall, African countries are responsible for less than 4% of global CO2 emissions. Required to update their national climate plans by February 2025, electrifying transport as the sector grows could have a major impact on future emissions.



Alexander Koerner, manager of global electric mobility at the United Nations Environment Programme, said the transport sector had the fastest-growing energy-related emissions on the continent.



&#8220;It must be in the focus of governments at COP29 if we are to decarbonise African economies,&#8221; Koerner told&nbsp;the Thomson Reuters Foundation.



<h2 class="wp-block-heading" id="h-prioritising-public-transport">PRIORITISING PUBLIC TRANSPORT</h2>



In many African cities, buses, motorcycles and three-wheelers are crucial to achieving COP targets, said Koerner.



&#8220;They are very intensively used, and you don&#8217;t need that huge charging infrastructure to supply them with electricity,&#8221; he said.



Over the past decade, electric vehicles in the shape of motorcycle taxis, buses and tuk-tuks have appeared on the bustling streets of Cape Town to the lush green hills of Kigali.



Researchers project the EV industry in sub-Saharan Africa to be worth more than $21 billion by 2027, almost double from nearly $12 billion in 2021.



Instead of focusing on private cars, countries are targeting the electrification of buses and taxis, the backbone of the continent&#8217;s urban mobility, to swiftly cut emissions and improve air quality.



The limited charging infrastructure and high costs make EVs less accessible for private use, but public fleets can utilise centralised charging.



&#8220;We deploy our charging infrastructure along the bus route so it&#8217;s convenient for bus operators.&#8221; said Jit Bhattacharya, co-founder of Kenya&#8217;s first electric bus company, BasiGo.



The start-up, which sources parts from China and assembles them locally, started in 2020 and has 43 buses in operation.



Bhattacharya said some African countries such as Kenya, where 90% of the nation&#8217;s electricity comes from renewable sources, were in a prime position to leverage their clean energy to power the e-mobility sector.



Kenya&#8217;s unused surplus of renewable energy last year, primarily from geothermal and wind sources, could have powered nearly 20,000 electric buses, he added.



&#8220;We want to see Africa become a leader in low carbon affordable public transport, because we already have the renewable energy,&#8221; said Bhattacharya.



<h2 class="wp-block-heading" id="h-incentives-and-innovation">INCENTIVES AND INNOVATION</h2>



Many African governments are leading the way, rolling out the red carpet for EV companies and offering tax breaks, reduced fees and subsidies as part of the welcome package.



Rwanda has implemented a slew of policies including import tax exemptions for EVs and equipment, rent-free land for charging stations, and lower corporate tax rates for EV firms.



African start-ups are proliferating, such as JUMO Energy in Kenya offering affordable EV motorcycle rentals, South Africa&#8217;s uYilo providing EV charging infrastructure and Rwanda&#8217;s Ampersand converting fuel-powered motorcycles to electric.



Many of these businesses offer creative financing options to reduce the high upfront costs, such as pay-as-you-go and lease-to-own models, which can prove more economical for consumers as they save on fuel expenses and maintenance costs.



But the region still faces several challenges in accelerating EV adoption.



Limited charging infrastructure, high import costs, unreliable electricity supply, a lack of government policy and low consumer awareness remain obstacles for most countries.



The biggest hindrance is access to finance.



Joanna Cheong, chief financial officer of ARC Ride, which sells electric motorcycles and offers a service to switch used batteries for charged ones, said high investments were needed to cover the high upfront costs of the EV sector.



These include research and development, expenditure on joint vehicle technology from countries such as China, as well as costs to install new charging infrastructure.



&#8220;We will be hoping for initiatives to boost investment in e-mobility from the COP climate talks,&#8221; said Cheong, whose company employs 75 people and has sold 1,100 vehicles since it started in 2020.



&#8220;Africa is one the last emerging markets in the world, so if you are not going to invest now, you will have missed the boat,&#8221; she warned.



(Reporting by Nita Bhalla; Editing by Jon Hemming. The Thomson Reuters Foundation is the charitable arm of Thomson Reuters.)

YSGCGBAO75MLPM4PMTIL4T6X4E

Africa’s electric vehicle firms look to COP29 for finance boost

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



Nov 20 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Senegal to announce results of parliamentary elections on Wednesday, with analysts and local media anticipating the ruling party will win a majority.



Kenya&#8217;s finance ministry is expected to launch hearings to prepare the 2025/26 (July-June) fiscal budget.



Kenya&#8217;s KCB Group is due to release its financial results for the first nine months of 2024.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares were cautious on Wednesday as investors looked ahead to earnings results from AI darling Nvidia where the risk of disappointment is high, while the dollar gave back a little of its recent bumper gains.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil edged up on Wednesday amid an escalation in the Ukraine war and signs of growing Chinese crude imports, while rising U.S. crude stocks checked overall price gains.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



The South African rand fell on Tuesday as investors pulled out of riskier assets after President Vladimir Putin updated Russia&#8217;s nuclear doctrine amid escalating tensions with the United States over Ukraine.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was unchanged on Tuesday as dollar inflows from exports matched demand from the manufacturing sector, one trader said.



<h2 class="wp-block-heading" id="h-ghana-pensions">GHANA PENSIONS</h2>



Ghana is clamping down on private pension fund managers who want to invest in offshore assets on concerns it could worsen pressure on its cedi currency, three industry sources told Reuters.



<h2 class="wp-block-heading" id="h-somaliland-election">SOMALILAND ELECTION</h2>



Somaliland opposition leader Abdirahman Cirro defeated incumbent president Muse Bihi Abdi in last week&#8217;s election, the electoral commission said on Tuesday, setting up a handover of power as the breakaway Somali region pushes for global recognition.



((Compiled by Nairobi Newsroom))

African Markets – Factors to watch on Nov 20

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3266" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/OUYYQXCMJBIYFCNERSGFHJFKBA.avif" alt="" class="wp-image-556603"/><figcaption class="wp-element-caption">Shoppers walk past a shop window displaying Black Friday signage at Woodmead Value Mart, in Johannesburg, South Africa, November 25, 2023. REUTERS/Sumaya Hisham/ File Photo</figcaption></figure>



JOHANNESBURG, Nov 20 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s annual inflation rate slowed sharply to 2.8% in October, data showed on Wednesday, setting the stage for another interest rate cut by the central bank this week.



Statistics South Africa said falling fuel prices were the primary driver of the slowdown in the headline rate from 3.8% in September.



October&#8217;s reading is the lowest inflation has been since June 2020, during the peak of the COVID-19 pandemic.



Independent economist Elize Kruger said fuel and food price developments play a greater role in October, which is considered a low survey month.



South Africa&#8217;s government-regulated petrol and diesel prices fell by more than one rand a litre in October.



Economists polled by Reuters had forecast inflation would&nbsp;slow to&nbsp;3.1%, well below the 4.5% level the South African Reserve Bank (SARB) aims for&nbsp;but just within the bank&#8217;s 3%-6% target range.



The SARB will announce its next interest rate decision on Thursday.



A Reuters poll published last week predicted the central bank would lower its repo rate by 25 basis points (bps), the same size of cut as in September, when the SARB cut rates for the first time in more than four years.



&#8220;Given recent SARB rhetoric, the recent rand depreciation and a conservative (monetary policy) committee, a 25 bps cut remains the base case forecast,&#8221; Kruger said.



(Reporting by Bhargav Acharya, Kopano Gumbi and Tannur Anders; Editing by Alexander Winning)

OUYYQXCMJBIYFCNERSGFHJFKBA

South African inflation drops to lowest since June 2020

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3495" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/PE4FFKBGVRIG3KXAM2ILG5AFKU.avif" alt="" class="wp-image-556585"/><figcaption class="wp-element-caption">Namibia&#8217;s newly appointed President Nangolo Mbumba and his wife, Sustjie Mbumba embrace each other, following the death of Hage Geingob, in Windhoek, Namibia, February 4, 2024. REUTERS/Sharon Kavhu</figcaption></figure>



JOHANNESBURG, Nov 20 (Reuters) &#8211; Namibians are set to vote for a new president and parliament on Nov. 27, after Hage Geingob died and was replaced as president on a interim basis by his deputy, Nangolo Mbumba.



The election could mark a historic shift in the country&#8217;s political landscape if the ruling SWAPO party, in power since independence in 1990, loses control of the presidency or parliament for the first time.



The president is directly elected by voters and needs to garner more than 50% of votes to win. Support for SWAPO dropped from 87% in the presidential election in 2014 to 56% in 2019.



Here are the main candidates running for president:



<h2 class="wp-block-heading" id="h-netumbo-nandi-ndaitwah">NETUMBO NANDI-NDAITWAH</h2>



Vice President Netumbo Nandi-Ndaitwah, 72, is also vice president of SWAPO and the party&#8217;s first female presidential candidate.



She joined SWAPO in the 1960s when the party fought for Namibia&#8217;s independence from apartheid South Africa. She served as SWAPO&#8217;s representative in central and eastern Africa after going into exile along with numerous party leaders.



After studying diplomacy in England, she returned to Namibia and has held various senior roles in SWAPO and government, including serving as a minister in portfolios of international relations, environment, and women&#8217;s affairs and child welfare.



<h2 class="wp-block-heading" id="h-panduleni-itula">PANDULENI ITULA</h2>



Panduleni Itula is a 67-year-old politician who secured 29% of the presidential vote as an independent candidate in 2019 &#8212; the best any challenger has done against SWAPO.



He has since formed a new political party, the Independent Patriots for Change (IPC), which champions grassroots participatory democracy and anti-corruption. IPC also plans to contest parliamentary seats.



Itula was a SWAPO party youth leader during the fight for independence and was imprisoned by the apartheid regime. Post-release, he moved to England where he studied and practised as a dentist for over three decades before returning to Namibia in 2013.



<h2 class="wp-block-heading" id="h-mchenry-venaani">MCHENRY VENAANI</h2>



McHenry Venaani is leader of Namibia&#8217;s largest opposition party in parliament, the Popular Democratic Movement (PDM), which holds 16 out of 96 elected seats.



Venaani, 47, studied law and became the country&#8217;s youngest member of parliament in 2003.



Despite the PDM strengthening its parliamentary presence in the 2019 election, Venaani came a distant third in the presidential race with only 5% of votes.



<h2 class="wp-block-heading" id="h-bernadus-swartbooi">BERNADUS SWARTBOOI</h2>



Bernadus Swartbooi, 47, is the leader of the Landless People&#8217;s Movement (LPM), a progressive party advocating for land redistribution and restorative justice.



Swartbooi founded the LPM in 2017 after losing his job as deputy minister of land reform and leaving SWAPO.



LPM has four seats in parliament. Swartbooi won 3% of votes in the 2019 presidential election.



<h2 class="wp-block-heading" id="h-job-amupanda">JOB AMUPANDA</h2>



Job Amupanda, 37, is a former SWAPO youth leader who fell out with the party and founded a leftist political movement called Affirmative Repositioning in 2014.



Like the LPM, the party focuses on land reform and redistribution of foreign-owned land.



Amupanda served as mayor of the capital, Windhoek, in 2021. He is also an associate professor of political science at the University of Namibia.



(Reporting by Nellie Peyton; Additional reporting by Nyasha Nyaungwa; Editing by Olivia Kumwenda-Mtambo and Alison Williams)

PE4FFKBGVRIG3KXAM2ILG5AFKU

Main candidates in Namibia’s presidential election

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GAJOROW4UVLYLPNNLHMSHRLWIU-1-820x547.jpg" alt="" class="wp-image-556534" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GAJOROW4UVLYLPNNLHMSHRLWIU-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GAJOROW4UVLYLPNNLHMSHRLWIU-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GAJOROW4UVLYLPNNLHMSHRLWIU-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GAJOROW4UVLYLPNNLHMSHRLWIU-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GAJOROW4UVLYLPNNLHMSHRLWIU-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GAJOROW4UVLYLPNNLHMSHRLWIU-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: South Africa&#8217;s President Cyril Ramaphosa gives a statement on the coronavirus disease (COVID-19) vaccination, during a European Union &#8211; African Union summit, in Brussels, Belgium February 18, 2022. REUTERS/Johanna Geron/Pool/File Photo</figcaption></figure>



JOHANNESBURG, Nov 19 (Reuters)&nbsp;&#8211;&nbsp;South Africa&nbsp;will use its&nbsp;G20 presidency&nbsp;to focus on advancing&nbsp;inclusive economic growth, food security and artificial intelligence, President Cyril Ramaphosa said on Tuesday at a summit of the Group of 20 major economies&nbsp;in Brazil.



South Africa takes over the G20 presidency from Brazil at the summit in Rio de Janeiro.



Brazil&#8217;s President Luiz Inacio Lula da Silva earlier urged G20 leaders to accelerate their national climate targets, calling on them to reach net zero climate emissions five to 10 years ahead of schedule.



&#8220;As South Africa, we undertake to advance the work of the G20 towards achieving greater global economic growth and sustainable development. We will work to ensure that no one is left behind,&#8221; Ramaphosa said.



He added: &#8220;South Africa&#8217;s Presidency will be the first time an African country has presided over the G20. We will use this moment to bring the development priorities of the African Continent and the Global South more firmly onto the agenda of the G20.&#8221;



(Reporting by Bhargav Acharya; Editing by Alexander Winning)

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Bluesky CEO Jay Graber says X rival is ‘billionaire proof’

Quantum computers pose great risks but their potential could change the world

How Honda Is Trying To Be Cool Again

Keeping up the fight – A renewed push for replenishment commitments

South African central bank trims key rate but stresses tough backdrop

Rwanda central bank maintains key rate, sees inflation within target

Kenyan shilling steady as export dollar inflows match rising demand

South African Markets – Factors to watch on Nov 21

African Markets – Factors to watch on Nov 21

Bitcoin climbs, reaching a new all-time high above $97,000

Southern African bloc extends troop deployment in Congo by a year

The tech startup disrupting traditional pregnancy care

Africa’s electric vehicle firms look to COP29 for finance boost

African Markets – Factors to watch on Nov 20

South African inflation drops to lowest since June 2020

Main candidates in Namibia’s presidential election

South Africa will focus G20 presidency on inclusive growth, food security

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home

Bluesky CEO Jay Graber says X rival is ‘billionaire proof’

Quantum computers pose great risks but their potential could change the world

How Honda Is Trying To Be Cool Again

Keeping up the fight – A renewed push for replenishment commitments

South African central bank trims key rate but stresses tough backdrop

Rwanda central bank maintains key rate, sees inflation within target

Kenyan shilling steady as export dollar inflows match rising demand

South African Markets – Factors to watch on Nov 21

African Markets – Factors to watch on Nov 21

Bitcoin climbs, reaching a new all-time high above $97,000

Southern African bloc extends troop deployment in Congo by a year

The tech startup disrupting traditional pregnancy care

Africa’s electric vehicle firms look to COP29 for finance boost

African Markets – Factors to watch on Nov 20

South African inflation drops to lowest since June 2020

Main candidates in Namibia’s presidential election

South Africa will focus G20 presidency on inclusive growth, food security

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