insert_link Business / Economics Cape Town to mint 6,100 new millionaires in projected wealth boom By Seth Onyango, via bird story agency Cape Town is forecast to become the fourth fastest-growing wealth hub per capita among the BRICS states, according to new insights from Henley & Partners (H&P). The picturesque city is forecast to add 6,100 millionaires over the next ten years, over and above the current 7,400, representing an 85% jump. "It is currently benefiting from the ongoing ‘semigration’ of large numbers […] todayFebruary 1, 2024 30
insert_link Africa African countries are struggling with high debt, demands to spend more and collapsing currencies: the policy fixes that could help By Jonathan Munemo, Salisbury University Highly indebted African countries are facing stark trade-offs between servicing expensive debt, supporting high and growing development needs, and stabilising domestic currencies. Government debt has risen in at least 40 African countries over the past decade. As a result, some are experiencing a bad combination of high debt, elevated development spending needs amid budget shortfalls, and unfavourable exchange rate pressures. These issues have become […] todayFebruary 1, 2024 4
insert_link Business / Economics Bridging the climate finance gap through collaboration and innovation Government, labour, business, and civil society must collaborate and innovate if South Africa is to raise the R535 billion required to meet its NDC target by 2030. In light of estimates that South Africa will require, on average, R334 billion and R535 billion annually to achieve its net zero goal by 2050 and NDCs by 2030, respectively, it is clear that something radical needs to change and quickly if we […] todayFebruary 1, 2024 25
insert_link Business / Economics BIZ NEWS 1 FEBRUARY 2024: Financial Insights Digest: Economic Surges, Strategic Moves, and Global Indicators – A Comprehensive Overview 1. Namibia's Economic Outlook Soars on Surging Uranium Prices The Chamber of Mines anticipates a robust economic boost for Namibia in 2024, driven by a remarkable surge in uranium prices, marking the highest in over 12 years. Veston Malango, CEO of the Chamber, highlights the expected upturn, fueled by increased production in existing mines and the anticipated commencement of production at the Langer Heinrich uranium mine in the first quarter […] todayFebruary 1, 2024 5
insert_link Africa Continental Free Trade Area launches first trade shipment Industrialisation and Trade Minister, Lucia Iipumbu has participated in the first trade shipments under the African Continental FreeExportDiversification Trade Area at the Port of Durban in KwaZulu-Natal. Iipumbu says the implementation will diversify exports, boost productive capacity, accelerate growth, create more jobs, and promote economic inclusion. todayFebruary 1, 2024 44
insert_link Business / Economics UK unveils post-Brexit deal with Northern Ireland The UK government is expected to publish details of a post-Brexit deal later designed to restore power-sharing in Northern Ireland. The new agreement is expected to remove checks on goods moving from Great Britain to Northern Ireland. Former Brexit negotiator Rory O'Donnell says he expects the European Union also to accept the agreement. todayFebruary 1, 2024 45
insert_link Business / Economics Economist weighs in on Bank of Namibia’s policy alignment Following calls for increased inclusivity in the Monetary Policy Committee of the South African Reserve Bank, we reached out to Cirrus Capital Economist, Robert McGregor for his take. todayFebruary 1, 2024 30
insert_link Business / Economics IMF forecasts Asia-led global economic soft landing in 2024 The International Monetary Fund is forecasting growth in Asia will help guide the global economy to a ‘soft landing’ in 2024. The IMF on Wednesday released its regional outlook for the Asia-Pacific which expects China and India to drive growth in the region. todayFebruary 1, 2024 15
insert_link Business / Economics BRICS bloc dominates global GDP and wealth The BRICS bloc now represents more than 45% of the world’s population and accounts for nearly 36% of global GDP than G7 countries (30%) when adjusting for purchasing power parity. According to investment migration consultancy, Henley and Partners’ BRICS Wealth Report, the total investable wealth currently held in the BRICS bloc amounts to $45 trillion and its millionaire population is expected to rise by 85% over the next 10 years. todayFebruary 1, 2024 3