- Bannerman Mining Resources Namibia Invests in Etango Project
Bannerman Mining Resources Namibia has announced plans to invest over six billion Namibia dollars in the Etango Project. The company has already allocated more than one billion Namibia dollars towards the uranium project in Erongo, signaling a major commitment to the sector. This move will likely boost Namibia’s mining industry and contribute to the nation’s economic growth.
- South Africa’s Reserve Bank Cuts Repo Rate
In a bid to support economic recovery, the South African Reserve Bank’s Monetary Policy Committee has decided to cut the repo rate by 25 basis points to 7.5%. As a result, the prime lending rate will be lowered to 11%. The decision comes in response to a contraction in the economy during the third quarter, mainly attributed to a sharp decline in agricultural production. The cut aims to stimulate lending and economic activity in the country.
- Nigeria Sees Surge in Unsecured Loans
Commercial banks in Nigeria have seen a significant rise in unsecured loans to both households and corporations, according to the latest Credit Conditions Survey from the Central Bank of Nigeria. The survey revealed that unsecured loans to households surged by 15.8 points in the fourth quarter of 2024. This increase reflects a shift in borrowing behavior amid challenging economic conditions, with individuals and businesses seeking access to credit for various needs.
- US Stock Market Gains on Strong Tech Earnings
US stocks saw positive movement on Thursday afternoon, fueled by strong earnings from megacap tech companies and anticipation of Apple’s financial results. According to Yahoo Finance, the S&P 500 climbed by 0.5%, the Dow Jones rose by 0.4%, and the Nasdaq Composite gained nearly 0.3%. Investors are keenly watching the tech sector for further signs of growth, as companies continue to deliver impressive financial performances.
Latest Financial Indicators
- The Namibia dollar trades at 18.46 to the US dollar, 19.26 to the Euro, and 23.01 to the British Pound.
- Gold is trading at $2,796.04 per fine ounce.
- Brent crude stands at $76.58 per barrel.
- Bitcoin is valued at $1,944,977.35.
Written by: Leonard Witbeen
Apple earnings Bannerman Mining Bitcoin Value Central Bank of Nigeria economic recovery Etango Project financial indicators gold prices megacap tech Namibia mining Nigeria credit Repo Rate Cut South Africa Reserve Bank unsecured loans US Stocks
