Thursday, September 20, 2018
JOHANNESBURG - South Africa’s Reserve Bank will leave interest rates unchanged at 6.50 percent next week, 25 of 26 analysts predicted in a Reuters poll, after recent data showing the economy unexpectedly slipped into recession earlier this year. However, emerging market currency mayhem will likely prompt the Bank to switch...
Liquid Telecom is set to connect the entire continent through a land-based communication link between Cape Town and Cairo, the South African and Egyptian cities respectively. Reshaad Sha, Liquid Telecom Chief Executive Officer, made the announcement on Monday at the ongoing International Telecommunication Union (ITU) summit in Durban, South Africa. The...
JOHANNESBURG - South Africa’s rand firmed against the dollar early on Tuesday as some emerging market currencies that sold-off sharply in recent weeks regained some lost ground. At 0650 GMT the rand was 0.77 percent stronger at 15.0925 per dollar compared to a close of 15.2100 in New York. Investors remain...
JOHANNESBURG - South Africa’s rand kicked off Monday on the back foot against the dollar as concerns about higher lending rates in the United States and an escalation in a trade war between Washington and Beijing subdued demand for emerging market currencies. * At 0615 GMT the rand was 0.13...
JOHANNESBURG - South Africa’s rand continued to recover early on Friday as a narrowing of the current account deficit helped ease some of the shock of the economy tripping into recession, while profit-taking on the recent slump also aided the currency. At 0640 GMT the rand was 0.75 percent firmer...
LAGOS, Clickatell an authorized WhatsApp Business Solution provider, is proud to announce that United Bank for Africa (UBA) will be going live with their Chat Banking solution – Leo on WhatsApp. In a first for Nigeria, customers can now conduct their favorite banking activities in a secure and convenient manner,...
  LONDON, Africa Oil Week (AOW) has announced their partnership with SuperReturn. This new partnership offers delegates attending SuperReturn Africa, the continent’s biggest investor conference, access to Africa Oil Week on Thursday 8 November 2018. For operators across the continent, raising capital remains one of the biggest challenges; whether it is...
Emerging markets sold off anew on Tuesday as South Africa entered a recession and Indonesia’s rupiah joined currencies from Turkey to Argentina in tumbling toward record lows, reinforcing concern that contagion risks are too big to ignore. MSCI Inc’s index of currencies dropped for a fifth time in six days,...
Growth in credit granted to the private sector slowed in July, undershooting market expectations. Private sector credit extension (PSCE) grew at an annual rate of 5.41 percent in July, a slowdown from June’s 5.68 percent, Reserve Bank data showed on Thursday A poll of economists by Trading Economics had expected PSCE...
JOHANNESBURG - South Africa’s rand weakened in early trade on Wednesday as investor optimism over the U.S.-Mexico trade deal was dimmed by concerns that the China-U.S. trade war will drag on for some time, hurting appetite for riskier assets. At 0643 GMT, the rand traded at 14.3000 per dollar, 0.49...