insert_link Business / Economics Bank of Namibia keeps repo rate at 7.75% The Monetary Policy Committee of the Bank of Namibia has decided to keep the repo rate unchanged at 7.75 percent, with the prime lending rate holding steady at 11.50 percent. Governor of the Bank Johannes !Gawaxab says this policy stance will continue to safeguard the one-to-one link between the Namibia Dollar and the South African Rand and support domestic economic activity. UNAM economics lecturer, Dr. Omu Kakujaha-Matundu, believes that consumers […] todayJune 19, 2024 17
insert_link Africa Ghana’s economic crisis was caused by government borrowing – the central bank did the best it could: economist By Emmanuel Ameyaw, Tohoku University Ghana is going through its worst economic crisis in a generation. The past two years have seen record high inflation in the country. Ghana’s central bank (the Bank of Ghana) has been criticised in some quarters for its role in the country’s economic malaise, which has hit the profitability of Ghanaian banks. The Conversation Africa’s Godfred Akoto Boafo speaks to […] todayJune 17, 2024 11
insert_link 2 Africa Zimbabwe urges swift adoption of new but ‘scarce’ currency Zimbabwe's Finance Minister Mthuli Ncube has ordered all government agencies to accept payments in the newly introduced gold-backed currency amid reports of acute shortage. Ncube in a statement said the Zimbabwe Gold, introduced last month, was now the official unit of exchange for transactions in the country. He the BBC that the government would soon introduce regulations to ensure businesses stick to the official rate. todayMay 9, 2024 4 2
insert_link Local Bank of Namibia strengthens collaboration with central banks in the region The governor of the Bank of Namibia, Mr. Johannes !Gawaxab, recently embarked on a diplomatic visit to foster enhanced collaboration and cooperation with central banks in the region. Accompanied by a technical team from the bank’s financial markets, strategy, projects & transformation, research, and international relations departments, the governor visited the Bank of Ghana, the Reserve Bank of Zimbabwe, and the Bank of Botswana at the end of […] todayApril 24, 2024 3
insert_link Africa Kenya’s shilling is gaining value, but don’t expect it to last – expert By Odongo Kodongo, University of the Witwatersrand Shortly after Kenya’s 2022 elections, the shilling depreciated rapidly against the US dollar – the country’s main currency for international transactions – fuelling a wave of political discontent. More than a year later, the Central Bank of Kenya, taking its cue from the International Monetary Fund, said that the run on the shilling was a market correction for a […] todayApril 17, 2024 6
insert_link Africa Zimbabwe’s banks caught off guard by new gold-backed currency The Zimbabwe Gold officially started trading just days after it was announced it would replace the Zimbabwean dollar, which has tumbled in value over the past year, pushing inflation through the roof. But many in the country were not ready for the switch. Eddie Cross an economist from Zimbabwe says even the banks haven’t been fully able to translate their accounting systems. todayApril 10, 2024 20
insert_link Africa Twin rate cuts set Mozambique apart as African currency rally By Seth Onyango, bird story agency Mozambique’s central bank has decisively cut its benchmark lending rate to 15.75% from 16.5%, setting a precedent as the first African country to slash rates twice in 2024. The move highlights Maputo’s aggressive push for economic growth amid a wider trend of cooling inflation and currency stability against the US dollar across Africa. Rate cuts in the southeastern African nation, prompted […] todayApril 8, 2024 8
insert_link Business / Economics South Africa’s Reserve Bank keeps repo rate unchanged The South African Reserve Bank's Monetary Policy Committee has decided to keep the repo rate unchanged at 8.25 percent. This keeps the prime lending rate in SA at 11.75 percent. SARB Governor Lesetja Kganyago. todayMarch 27, 2024 22
insert_link Africa Burkina Faso, Mali and Niger hint at a new west African currency: what it’ll take for it to succeed By Thierno Thioune, Université Cheikh Anta Diop de Dakar On 11 February 2024, the head of Niger’s ruling military junta, General Abdourahmane Tiani, spoke of the possible creation of a common currency with Burkina Faso and Mali. “The currency is a first step toward breaking free from the legacy of colonisation,” he said on national TV, referring to the CFA franc inherited from French colonisation. Burkina Faso, […] todayMarch 15, 2024 10
Paying it forward: Kenyan coastal doctor Bashrahil Mohammed Mafudh has made it his life’s work to care for the most vulnerable in his community, at no cost.
