FNB S.A Economist Predicts Moderate Growth for Mining Sector

FNB S.A Economist Predicts Moderate Growth for Mining Sector

FNB South Africa economist Thanda Sithole says growth in the mining sector in the near term is expected to remain moderate, due to a subdued external demand environment. Mining production rose 1.4-percent year on year in October, after an upwardly revised 4.9-percent jump in September, marking the third consecutive month of growth in mining activity. Sithole says the modest increase in mining production was broad-based, with growth recorded in seven […]

December 11, 2024 19

South Africa

EFF has welcomed the consumer price inflation figures released by Statistics South Africa

In S.A, the EFF has welcomed the consumer price inflation figures released by Statistics South Africa, indicating a further decline from 4.4-percent in August to 3.8-percent in September. This marks the lowest inflation rate since March 2021. The EFF’s, Leigh-Ann Mathys, says this confirms the inflationary pressures faced by the country are not demand-driven, but a result of economic and global challenges that require a different monetary policy approach: Meanwhile, […]

October 24, 2024 31

Business / Economics

Namibia’s GDP hits N$59.5 billion in Q2

The Namibian economy grew by 3.5% year-on-year in Q2 2024, down from 4.3% in Q1 and slightly below the 3.6% growth in Q2 2023. This marks 13 consecutive quarters of growth since a contraction in Q1 2021. Nominal GDP reached N$59.5 billion, with real GDP at N$39.1 billion for the quarter. Simonis Storm Economist, Halleluya Ndimulunde has more.

September 24, 2024 41

Business / Economics

Anglo American rejects BHP offer, again

Anglo-American has rejected a third takeover proposal from BHP Group that valued the company at $49.18 billion but agreed to a one-week extension for its rival to table a binding offer. Cirrus Capital Economist Robert McGregor helps make sense of the deal.

May 23, 2024 68

Business / Economics

Private sector credit growth slows

Private sector credit extension experienced a sluggish of 1.3% year-on-year in March, reflecting a slowdown from February’s 1.7% year-on-year and a sharp decline from the 3.9% observed in March 2023. This represents the slowest pace of PSCE growth in the last decade. For the first quarter of 2024, the average annual credit growth further softened to 1.8% year-on-year, compared to 3.2% year-on-year in the same quarter of the previous year. […]

May 7, 2024 40

Business / Economics

Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

By Josef Kefas Sheehama At its first Monetary Policy Committee meeting of 2024, on the 14 February 2024, the Bank of Namibia is expected to cut its Repo Rate by 25 basis points. All of Namibian’s banks now expect the Bank of Namibia to cut its Repo Rate target by 0.25 basis points on the 14 February 2024, which would bring its key lending rate to 7.50%. This […]

February 13, 2024 41

Namibia

Vehicle sales increase by 17% in 2023

New data shows that vehicle sales increased by 17% in 2023 to 12,775 units compared to 10,919 units sold in 2022. This marks the highest total of new vehicles sold in the country since 2017. December 2023 witnessed a downturn, with a year-on-year decline of 11.7% and a month-on-month drop of 28.2%, totaling 841 units. Halleluya Ndimulunde from Simonis and Storm has more.

January 22, 2024 56

Business / Economics

GDP growth to slowdown to 3.3% in 2023

FNB Namibia Economist, Ruusa Nandago has revealed that the country’s Gross Domestic Product growth is expected to moderate to 3.3% in 2023 and 2.8% in 2024, from 4.6% in 2022, mainly due to the dry weather conditions which will be compounded by a slowdown in consumption. Nandago explains how inflationary pressures have impacted consumers.

November 27, 2023 37