In S.A, Financial Stability Review Highlights Growing Strain on Households

In S.A, Financial Stability Review Highlights Growing Strain on Households

S.A's Reserve Bank's latest Financial Stability Review reveals growing financial stress among households and small-to-medium enterprises. High interest rates, ageing global conflicts, infrastructure failures, and South Africa's graylist status contribute to the strain. Reserve Bank’s head of financial stability department Nicola Brink, says non-performing loans surged from 257-billion-rand in March 2023 to 304-billion-rand in July 2024:

December 2, 2024 15

Africa

The rise of Africa’s Gen Zs: From TikTok, X to the streets

By Conrad Onyango, bird story agency On June 18, 2024, thousands of young Kenyans took to the streets to oppose proposed tax reforms, marking a significant shift in the landscape of youth activism and advocacy in Africa. Within hours, a colourful image that captures the essence of a youthful crowd in trendy attire protesting on the streets of Nairobi was doing the rounds […]

June 21, 2024 31

Business / Economics

Nokia sees ‘challenging’ 2024 after profits plunge

Finnish telecommunications equipment maker Nokia warned Thursday that it expects another tough economic environment in the first half of this year after its net profit sank in the 2023. Nokia and its Swedish rival Ericsson have launched cost-cutting programmes as their customers have reduced spending amid a slowing global economy. The Finnish firm reported a profit of 679 million euros ($739 million) for last year, down 84 percent […]

January 25, 2024 25