French companies are significantly boosting their investments in South Africa

French companies are significantly boosting their investments in South Africa

French companies are significantly boosting their investments in South Africa. Speaking at the French Business Forum in Johannesburg, French ambassador David Martinon noted that South Africa’s financial regulatory framework and political stability make it an attractive destination for international investors. He says the forum provides a platform for French companies to engage with local businesses, further strengthening economic ties between the two nations:

October 17, 2024 16

Africa

Angola extends cash tranfer for low-income families

Angola will extend a cash-transfer program for low-income families as a weaker currency and sky-high inflation continue to drive up living costs in the oil-producing country. Bloomberg reports the Kwenda program will run until 2029, following the recent approval by the World Bank of an additional $400 million loan, President João Lourenço said in a speech Tuesday. The project, the first of its kind in Angola, began in 2020 to […]

October 16, 2024 14

Business / Economics

Bank of Namibia reduces repo rate to 7.25%, offering relief to consumers

The Bank of Namibia has announced a 25 basis point reduction in the repo rate, bringing it down to 7.25 percent. This decision follows an extensive review of domestic, regional, and global economic conditions. Speaking at the monetary policy announcement, BoN Governor Johannes !Gawaxab emphasized the need to moderate monetary restrictions due to slowing economic growth and declining inflation. "Domestic economic activity rose during the first eight months of 2024, […]

October 16, 2024 19

Business / Economics

Simonis Storm Analyst Weighs In on Potential Repo Rate Cut

Analysts expect the Bank of Namibia Monetary Policy Committee to announce a 25-basis point cut in the repo rate this Wednesday. The Brief says, however, Simonis Storm Securities Junior Economist, Almandro Jansen warned that while a cut is possible, it’s not guaranteed, with a likelihood just below 50%. He noted that inflation dynamics, particularly the recent decline in headline inflation, will significantly influence the MPC's decision.

October 16, 2024 16

Business / Economics

IJG Securities, strongly anticipates a 25-basis point reduction in the repo rate

Eric Van Zyl, Managing Director Designate of IJG Securities, strongly anticipates a 25-basis point reduction in the repo rate during the upcoming Bank of Namibia Monetary Policy Committee meeting. According to The Brief, he cites several economic factors supporting this easing, including declining inflation trends and high real interest rates. He also emphasized that Namibia's uneven economic growth suggests a more accommodative monetary stance could stimulate broader economic activity.

October 16, 2024 10

Business / Economics

Bank of Namibia Set to Cut Repo Rate : Analaysts

Analysts anticipate that the Bank of Namibia Monetary Policy Committee will announce a 25-basis point reduction in the repo rate this Wednesday, the Brief says. If implemented, this adjustment would lower the rate from 7.50% to 7.25%. This potential decrease aligns with a broader trend of more accommodative monetary policies observed globally and regionally. The move follows the South African Reserve Bank's recent rate cut, sparking speculation about Namibia's next […]

October 16, 2024 11

Business / Economics

16 October 2024 Morning Biz News: Global Economic Trends: Namibia’s Repo Rate, Infrastructure Funding, and Rising Inflation

Bank of Namibia Set to Cut Repo Rate Amid Regional Trends Analysts predict that the Bank of Namibia's Monetary Policy Committee (MPC) will announce a 25-basis point reduction in the repo rate, lowering it from 7.50% to 7.25% on Wednesday. This expected move mirrors global and regional shifts toward more accommodative monetary policies, following a recent rate cut by the South African Reserve Bank. The decision comes as Namibia seeks […]

October 16, 2024 17

Business / Economics

Ojoma Ochai talks innovation during Namibia visit

Co-Creation Hub is helping Africa move towards a future of innovation and growth by using technology in different sectors. The hub also supports creative entrepreneurs with programs to prepare for investment, build ecosystems, and conduct research. The hub’s Managing Director, Ojoma Ochai talks about her visit to Namibia.

October 15, 2024 32

Africa

World Bank cuts Africa growth forecast

The World Bank has downgraded its economic growth forecast for sub-Saharan Africa. Bloomberg reports that Sub-Saharan Africa will likely grow 3% this year, somewhat lower than an April forecast of 3.4%, the Washington-based lender said in its Africa Pulse report published Monday. The slower growth rate was largely blamed on the conflict in Sudan which started 18 months ago and has continued to escalate.

October 15, 2024 15