Bizcommunity.com It is rather unfortunate that fiscal policy in South Africa only gets attention twice a year — around the time of the Budget Review and the Medium-Term Budget Policy Statement (MTBPS) — as it has such profound implications for the bond market in particular, and the country at large.Nevertheless, we hope to share some…
Reuters News Zambia’s central bank said on Monday it would from next week raise the minimum amount of local and foreign currency deposits that commercial banks must keep with the state lender in a bid to curb the depreciation of the local kwacha currency. The minimum statutory reserve ratio on both local and foreign currency…
Bizcommunity.com South Africa is accelerating plans for 3GW of gas-fired power generation to help to plug an energy deficit that is hurting the economy, electricity minister Kgosientsho Ramakgopa said in a press briefing on Sunday.Africa’s most developed economy is facing daily power cuts because of regular breakdowns at state power utility Eskom’s ageing coal-fired plants,…
Reuters News The South African rand was little changed in early trade on Monday against a weaker dollar as recent U.S. economic data fuelled expectations that the Federal Reserve is done hiking interest rates. At 0530 GMT, the rand traded at 18.2525 against the dollar , near the Friday close of 18.2575. The rand has…
Bizcommunity.com A new report by the World Travel & Tourism Council (WTTC) says that Africa’s travel and tourism sector could grow by $168 billion and create over 18 million new jobs in the next 10 years. The report, titled “Unlocking Opportunities for Travel & Tourism Growth in Africa,” says that this growth is possible if…
Reuters News Zimbabwe is targeting economic growth of 3.6% next year, down from an earlier target of 5.3%, due to drought conditions, its Finance Minister Mthuli Ncube said on Wednesday.
Reuters News South African private sector activity fell in October after holding steady in September, hurt by weak customer demand and high fuel prices, a survey showed on Friday. The S&P Global South Africa Purchasing Managers’ Index (PMI) fell to 48.9 in October from 49.9 in September, moving further below the 50-point line that separates…
Reuters South Africa is accelerating plans for 3 gigawatts (GW) of gas-fired power generation to help to plug an energy deficit that is hurting the economy, electricity minister Kgosientsho Ramakgopa said on Sunday. Africa’s most developed economy is facing daily power cuts because of regular breakdowns at state power utility Eskom’s ageing coal-fired plants, with…
Reuters Egypt’s central bank, as widely expected, left its overnight interest rates unchanged on Thursday, saying it was focused on future rather than present inflation and that economic growth appeared to have been stable in the July-September quarter. The central bank’s Monetary Policy Committee (MPC) left the lending rate at 20.25% and the deposit rate…
Reuters News South Africa’s lower revenue forecasts over the next two years and growing spending pressures from state-owned companies and social relief grants increase the risk of deterioration in the government’s balance sheet, Moody’s said on Thursday. The key elements of South Africa’s mid-term budget, announced on Wednesday, were broadly in line with expectations, the…
