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 15
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 11
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 43
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 35
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 52
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 17
insert_link Africa Inflation in Nigeria is still climbing while it has slowed globally: here’s why By Stephen Onyeiwu, Allegheny College Just as Nigerians were gradually digging out from the devastating effects of the COVID-19 pandemic, they were hit by high inflation. The Nigerian economy contracted by 6.1% at the peak of COVID in the second quarter of 2020. Unemployment rate rose from 27% in the second quarter of 2020 to 33% in the fourth quarter of the same year. The World Bank estimated […] todayMarch 14, 2024 27
insert_link Videos IMF urges vigilance on monetary policy https://youtu.be/UG1rZkT_FsQ The IMF is urging vigilance on monetary policy globally and says the job is not yet done when it comes to keeping inflation in check despite some weakening in key economies, a spokesperson for the Fund said Thursday (February 22) in Washington, DC. “Broadly speaking, because inflation has been coming down, but it's not yet at target or close enough to target our line, or our view remains the […] todayFebruary 23, 2024 17
insert_link Business / Economics What does an unchanged Repo rate mean to a GIPF member? By Amos Kambonde, Manager: Marketing services at the Government Institutions Pension Fund. Recently, consumers received positive news with the announcement of an unchanged repo rate alongside an unchanged in fuel prices across Namibia. While these developments may seem distant from the average person's daily concerns, they hold significant implications, particularly for members of the Government Institutions Pension Fund (GIPF). Let's delve into what these announcements mean for […] todayFebruary 20, 2024 18