CNBC Africa

[TOP STORY] The global economy is set for modest growth over the next two years amid cooling activity in the U.S., a bottoming-out in Europe and stronger consumption and exports for China, but risks to the path abound, the International Monetary Fund said on Tuesday. Read more: https://t.ly/UYiCh

[TOP STORY] Oil prices slip due to concerns over a slowing Chinese economy, which is expected to dampen demand. However, the losses remain limited by a growing consensus that the U.S. Federal Reserve may start cutting its key interest rate as early as September. Brent crude futures decreased by 1 dollar and 58 cents to 80 dollars 35 cents a barrel, while U.S. West Texas Intermediate crude fell by 1 dollar 43 cents, to 83 dollars 42 cents. #CNBCAfrica #DSTV410 #ClosingBell #CBWA

Sierra Leone's Ministry of Finance Projects a total expenditure and borrowing of 35.8 billion Seirra Leonean Loene for the 2025 budget. This marks an increase from the estimated 27.3 billion expenditure in 2024. Key allocations in the budget circular include 4.8 billion Seirra Leonean Loene for Goods and Services and 3.3 billion Seirra Leonean Loene for Subsidies and Transfers. Domestic Capital Expenditure is set at  945 million Seirra Leonean Loene. Meanwhile, Revenue and Grants are expected to reach 29.5 billion Seirra Leonean Loene, with Domestic Revenue projected at 19 billion. #CNBCAfrica #DSTV410 #ClosingBell #CBWA

[TOP STORY] The ECOWAS Bank for Investment and Development has launched a green and sustainable bond issue in the West African Economic and Monetary Union zone, via a public offering. The Bank seeks about $70 million through the issue, which marks the first of a kind in the WAEMU market. This operation is expected to raise the third tranche in a series of fund-raising initiatives targeting around $240 million that ECOWAS Bank for Investment and Development initiated to finance economic stimulus investments by its member states. The Bank raised about $170 million through previous tranches. #CNBCAfrica #DSTV410 #ClosingBell #CBWA

Today on #CBWA, our focus is on Nigeria. We will be discussing the recent postponement of the monthly bond auction and the overall attitude of offshore investors towards the foreign and fixed-income markets in the country. Additionally, we will provide a comprehensive update on the West African markets with Stanbic IBTC's Sanni Oluwamayowa at 15H30 CAT on #DSTv410. Watch live: https://lnkd.in/dNhHYmS #GlobalMarkets #Marketupdate

[TOP STORY] Oil prices slip due to concerns over a slowing Chinese economy, which is expected to dampen demand. However, the losses remain limited by a growing consensus that the U.S. Federal Reserve may start cutting its key interest rate as early as September.  Brent crude is down 57 cents to 84 dollars and 28 cents a barrel while U.S. West Texas Intermediate crude trades at 81 dollars and 32 cents a barrel recording a price dip of 59 cents. #CNBCAfrica #DSTV410 #PowerLunch #PLWA

[TOP STORY] Nigeria is set to kickstart its Preferential Trade initiative under the Africa Continental Free Trade Area Guided Trade Initiative today in Lagos. This marks the country’s entry into the second phase of the GTI. According to Olusegun Awolowo, the National Coordinator of Nigeria AfCFTA Coordination Office, the initiative has the potential to significantly enhance Nigeria's trade profile within the continent. #CNBCAfrica #DSTV410 #PowerLunch #PLWA

[TOP STORY] Nigerian passport holders can now travel to the United Arab Emirates after a mutual agreement was reached between both countries. That’s according to Nigeria’s Minister of Information and National Orientation, Mohammed Idris at the end of Monday’s Federal Executive Council meeting. The UAE stopped issuing visas to Nigerians in 2022 after Emirates Airline suspended flights between both countries due to an inability to repatriate funds from Nigeria. Meanwhile, the central bank of Nigeria has since cleared a backlog of around $137 million in foreign exchange owed to international airlines. #CNBCAfrica #DSTV410 #PowerLunch #PLWA

Key players from government, diplomatic community, civil society, and the public and private sectors will be in Lagos on the 25th and 26th of July 2024 for the two-day Africa Social Impact Summit co-convened by Sterling One Foundation and the United Nations, Nigeria. The conference will unpack strategies to increase investment and funding for impactful projects that foster sustainable economic growth and development in the African Development Community. Go to www.theimpactsummit.org for registration and more information. #ASIS2024 #Partnerships4TheSDGs #TransformingAfrica

[TOP STORY] Police in Kenya fired tear gas on Tuesday to disperse hundreds of protesters aiming to keep pressure on President William Ruto after he made a series of concessions to demonstrators’ demands. Read more: https://t.ly/tMVtF