insert_link Business / Economics European Central Bank cuts interest rates The European Central Bank has cut interest rates again suggesting that efforts taken to curb inflation remain on track. It's the fourth time the ECB has cut rates this year with the deposit rate now set at three percent. William Denselow is in Brussels for us. today13 December, 2024
insert_link South Africa SA’s new land law limits rural landowners The Institute of Race Relations has raised concerns over the deprivation of rural landowners’ property rights under the newly amended Communal Property Association Act. Gabriel Crouse of the IRR says 470-thousand rural landowners are now required to obtain state approval to lease or sell their land, which undermines economic freedom. today4 December, 2024
insert_link Business / Economics Economist Urges Reforms as South Africa’s GDP Shrinks by 0.3% In S.A, North-West University Business School economist, Raymond Parsons, has called for urgent economic reforms following the disappointing gross domestic product growth figures for the third quarter, when it decreased by 0.3-percent. Parsons calls for more investment and faster reforms from both the public and private sectors to drive job-rich growth and improve the economy: today4 December, 2024
insert_link South Africa South Africa’s Deputy President Outlines Steps to Boost Foreign Investment and Economic Reform South Africa's Deputy president Paul Mashatile says the government has implemented several steps to stimulate foreign investment including simple tax rules, and a competitive regulatory framework. He answered questions in the National Assembly yesterday on a range of issues including the economy, the water crisis, and challenges in municipalities. Mashatile says the government of national unity intends to continue with fundamental economic reform and improve the business operating environment: today1 November, 2024
insert_link Business / Economics South Africa nears compliance with the Financial Action Task Force’s financial crime requirements South Africa is close to meeting the Financial Action Task Force's requirements to combat financial crimes like money laundering and terrorism financing. In his first medium-term budget policy statement for the seventh administration, Finance minister Enoch Godongwana said only six items remain to be addressed by February next year, with 16 of the 22 requirements already fully or mostly completed: today31 October, 2024
insert_link Business / Economics South Africa’s central bank cuts interest rates South African Reserve Bank Governor Lesetja Kganyago has announced that the Monetary Policy Committee has decided to reduce the country's repo rate by 25 basis points to 8%. The announcement comes a day after SA’s inflation was reported at 4.4-percent in August, lower than the Reserve Bank's target of 4.5-percent. It is expected that the rate will also be lowered at the bank's next meeting in November. today19 September, 2024
insert_link Africa Biden Administration supports AGOA re-authorisation The Biden administration is supporting the early extension of the African Growth and Opportunity Act, allowing over 30 sub-Saharan African countries to maintain duty-free access to the U.S. market. Joy Basu, the Deputy Assistant Secretary of State in the Bureau of African Affairs, confirmed this during a press briefing, saying the United States supports an early re-authorization before AGOA expires in September 2025. Since its enactment in 2000, the […] today30 July, 2024
insert_link World New UK finance minister vows to power economy New UK finance minister Rachel Reeves vowed Monday to immediately "fix the foundations" of Britain's economy, fuelled by onshore wind power and house building, after her Labour party won power. In her first major speech since being appointed the UK's first woman chancellor of the exchequer by new Prime Minister Keir Starmer, Reeves said there was "no time to waste" on reversing "the legacy of fourteen years […] today8 July, 2024
insert_link Africa Kenya’s protests are different this time: 3 things that make it harder for government to crush them By Awino Okech, SOAS, University of London On 25 June 2024, a youth-led protest primarily composed of Gen Zs, as they are popularly referred to, stormed Kenya’s parliament. Legislators voted to pass the Finance Bill 2024 in its third and last reading ahead of presidential assent. This was the second countrywide protest over the proposed taxes in the draft law and excesses in government […] today8 July, 2024
