South Africa is likely to see at least three interest rate hikes in 2022 as the South African Reserve Bank (SARB) has indicated that it will begin unwinding its accommodative monetary policy stance, say economists at Momentum Investments.

Shopping on social networks such as Facebook, TikTok and WeChat is going to grow three times faster than sales from traditional channels over the next three years, according to a study released by Accenture. 

 Dubai port operator, DP World has signed an agreement with the government of Senegal to develop a deep water seaport at the town of Ndayane, about 50km southeast of the capital, Dakar.

Sanlam's attempt to increase its stake in a Moroccan general insurer has not materialised due to all conditions not having been met, it said in an announcement on Monday.

Apple on Monday became the first company in the world to hit US$3 trillion (R48 trillion) in market capitalisation, thanks to investor confidence that the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and metaverse.

Africa’s technology startups raised a record $5 billion this year as US investors piled into companies that are helping the continent’s tech-savvy and young population conduct financial transactions.

Assets held by the world’s sovereign wealth and public pension funds rose to a record US$31.9 trillion in 2021 thanks to rising U.S. stock and oil prices, and investments rose to their highest for several years, an annual report released on Saturday showed.

South African stocks are closing out their best year since 2009, although the gains have little to do with local factors.

The Competition Commission and South Africa's three largest private pathology groups, Pathcare, Lancet and Ampath, have agreed to the price reduction of Covid-19 rapid antigen tests to no more than R150, inclusive of VAT, with immediate effect. 

Covid-19 variants have been incorrectly associated with South Africa, consequently damaging the country's brand reputation.

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