Bizcommunity.com South Africa’s producer inflation quickened to 5.1% year on year in September from 4.3% in August, statistics agency data showed on Thursday, 26 October.On a month-on-month basis, the producer price index was at 1.5% in September from 1.0% the previous month, Statistics South Africa said.
The Zimbabwean The Reserve Bank of Zimbabwe (RBZ) attributed the poor export performance to falling global mineral prices. Zimbabwe’s exports are mainly dominated by mineral and agricultural commodities. “Due to the negative developments in the global economy, prices for most mineral commodities including platinum, nickel and lithium have been declining, negatively affecting export receipts in…
Reuters HARARE, Oct 27 (Reuters) – Zimbabwe’s government will maintain its multi-currency system, anchored by the U.S. dollar, to 2030, it said on Friday. The government had previously said that the multi-currency system would end in 2025. This had triggered uncertainty in the banking sector, with some banks refusing to give loans past 2025. In…
Reuters NAIROBI, Oct 27 (Reuters) – Kenya has raised its budget deficit forecast for the 2023/24 (July-June) financial year to 5.3% of GDP from 4.4%, a summary of revised spending estimates presented to parliament showed on Friday. The wider projection was due to the weakening of the Kenyan shilling against the dollar, Finance Minister Njuguna…
Reuters News Botswana’s central bank kept its key lending rate unchanged at 2.65% on Thursday. Botswana’s Monetary Policy Rate has been at 2.65% since August 2022. Inflation rose to 3.2% year-on-year in September from 1.2% in August, within the central bank’s preferred range of 3%-6%.
Reuters News South Africa’s producer inflation quickened to 5.1% year on year in September from 4.3% in August, statistics agency data showed on Thursday. On a month-on-month basis, the producer price index was at 1.5% in September from 1.0% the previous month, Statistics South Africa said.
Africa Business A low-growth economy, high unemployment and the mounting pressures posed by the ongoing energy crisis have continued to weigh heavily on start-ups in Southern African over the past year. Early-stage investors likewise reported that these challenges have had a material impact on the local venture capital industry, with an overall decrease in the…
Reuters News South African pharmacy chain Clicks Group reported a 11.5% rise in full-year earnings on Thursday helped by stronger second-half turnover growth. Clicks said its adjusted diluted headline earnings per share (HEPS) for the year ended Aug. 31 totalled 1,044.5 cents, up from 936.6 cents a year earlier. Including insurance proceeds for damaged stores…
Bizcommunity.com The Climate Finance Accelerator (CFA) South Africa, now in its third phase, has launched a call for proposals to identify projects fighting climate change that would benefit from capacity-building support to help them attract investment. Around 10 projects are expected to be selected from the energy, water, smart agriculture, clean transport, waste, forestry and…
Bizcommunity.com The African Development Bank (AfDB) has approved a $2.5m grant to support 10,000 small horticultural businesses in Tanzania. The grant will come from the Global Agriculture & Food Security Programme and will be used to support food system service providers in rural areas. The project will allow small operators in Tanzania to improve the…
