09 April 2024 Morning Biz News: Latest Financial Highlights: Growth, Strength, Collaboration, and Market Insights

1. The Namibia Depository Guarantee Authority reported a growth in its investment value to N$16.2 million by the end of the 2022 financial year, attributed to received premiums and interest earnings. Florette Nakusera, NDGA’s head, affirmed the security of the fund’s assets, which were invested in line with approved policies and guidelines.
2. South Africa’s rand saw a boost following central bank data indicating a rise in foreign reserves last month. By late afternoon, the rand was trading at 18.64 against the U.S. dollar, marking a 0.24% increase compared to Friday’s closing rate.
3. Leading global supermarket chains, including Tesco, Woolworths Group, and Shoprite, have joined forces to establish a $125 million venture capital fund named W23 Global. Over a span of five years, this fund aims to invest in startups and scale-ups leveraging technology to enrich consumer experiences both in-store and online.
4. A minor uptick was observed in a global equity index, while Wall Street stocks remained subdued. This occurred as U.S. bond yields surged to their highest levels since late November, dampening investor optimism about potential Federal Reserve interest rate adjustments.

For the financial indicators:

• The Namibia dollar is currently trading at 18.64 against the US$, 20.24 against the Euro, and 23.59 against the Pound.
• Gold is priced at $2,338.59 per fine ounce.
• Brent crude stands at $91.17 per barrel.
• 1 Bitcoin is valued at $1,330,923.36.