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. todaySeptember 19, 2024 18
insert_link Business / Economics South Africa’s current-account deficit narrows South Africa’s current account deficit narrowed more than expected in the second quarter as the rand price of exported goods and services increased more than that of the imports gap on the current account. The South African Reserve Bank on Thursday said that the broadest measure of trade in goods and services shrank to 0.9% of GDP, or 64.6 billion rand, down from a revised 1.5% of GDP in the […] todaySeptember 5, 2024 8
insert_link South Africa S.A Finance minister Enoch Godongwana says regaining public trust in financial regulation requires deep structural reforms S.A Finance minister, Enoch Godongwana, says regaining public trust in financial regulation requires deep structural reforms, and a shift towards greater accountability, transparency, and public inclusivity. He addressed the South African Reserve Bank’s launch of the Corporation for Deposit Insurance yesterday. This is South Africa’s deposit insurance scheme, created and mandated by law to protect qualifying bank depositors in the unlikely event of their bank failing. Godongwana says trust is […] todayApril 26, 2024 36
insert_link Business / Economics 24 April Morning Biz News: Namibia’s Exchange Control Policies Pose Challenges to Oil and Gas Sector Expansion The Brief reports that Higino Mutemba, Head of Oilfield Services at RMB, has raised concerns about Namibia's stringent exchange control policies potentially hindering the country's ambitious plans for its burgeoning oil and gas sector. Despite Namibia's efforts to regulate foreign currency flows, Mutemba warns that these policies could deter international investors, drawing attention to the difficulties encountered in repatriating funds from other African nations. Namibia has been actively seeking to […] todayApril 24, 2024 34
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 30
insert_link South Africa ActionSA Criticizes Finance Minister’s Budget as Uninspiring and Continuation of ANC’s Misguided Priorities Opposition party ActionSA voices disappointment in SA's Finance Minister Enoch Godongwana's budget speech, labeling it as uninspiring and reflective of the ANC's misguided spending priorities. The party expresses particular concern over the decision to shift 150 billion rand from the South African Reserve Bank's Gold and Foreign Exchange Contingency Reserve Account, aimed at improving the country's fiscal prospects. ActionSA President Herman Mashaba asserts that the ANC has exhausted options after […] todayFebruary 22, 2024 7
insert_link South Africa S.Africa inflation drops for second consecutive month The monthly inflation rate in South Africa eased again in December, dropping 0.4 percentage points to 5.1 percent as food price hikes slowed, official data showed Wednesday. The average inflation rate for 2023 was 6.0 percent, 0.9 percentage points lower in 2022 and matching the upper limit of the central bank's official target range, national statistics agency StatsSA said. "Inflation was relatively hot in the first five months of 2023 […] todayJanuary 24, 2024 13
insert_link Business / Economics South Africa’s consumer inflation increases to 5.9-percent in October South Africa’s annual consumer inflation increased for a third consecutive month in October, bordering on the upper limit of the South African Reserve Bank’s inflation target range. The headline rate was 5.9 percent, up from 5.4 percent in September. The consensus among economists before the inflation number was that the Reserve Bank will keep rates on hold when it announces its decision tomorrow. todayNovember 22, 2023 6
