Africa-news

Africa-news (598)

South Africa’s Monetary Policy Committee (MPC) will hold its first meeting of the year to decide on interest rates on Thursday, and while economists agree that the central bank will continue to hike rates, they are split on the size of the increase.

The most severe power cuts ever experienced in South Africa are threatening food and water supplies and disrupting the lives of millions of people, including chicken farmers.

Zambia and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) and Joint Development Agreement (JDA) to facilitate massive investment in renewable energy in Zambia.

Barring any black swan events and other market shocks, the rand has the potential to strengthen further in 2023, and could see a period of relative stability, says Investec.

A decision to set up the East African Monetary Institute --the Central Bank of East Africa—will be made this year, a key establishment required in implementing a single currency regime.

South Africa faces a 45% chance of slipping into recession this year as South Africa’s electricity crisis deepens, according to a survey of economists by Bloomberg this month. 

Zambia plans to import fuel from its oil-producing neighbour Angola in the government’s push to lower pump prices and stem supply shocks.

MTN has joined forces with Lndr, a registered local credit provider, to offer personal loans via its Mobile Money platform, MoMo.

MultiChoice Africa has announced the appointment of Dr. Keabetswe Modimoeng as Corporate Affairs and Stakeholder Relations Group Executive for MultiChoice Africa, effective January 2023. Dr. Modimoeng will report to Collen Dlamini, the Group Executive Corporate Affairs, and will be a member of the MultiChoice Africa Executive Team.

Botswana posted a budget surplus for the six months through September, driven by surging demand for diamonds as buyers flocked to the African nation and avoided Russia following its invasion of Ukraine.

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