SOUTH Africa has been named the fourth most affordable country in the world in which to buy property, according to a study by Compare the Market.

Hurun Report has published its annual rich list, ranking over 3,300 billionaires from 2,500 companies and 69 countries – including South Africa.

The South African Reserve Bank is likely to hike interest rates by a further 25 basis points this week to 4.25% in an attempt to slow inflation, say economists.

The Bank for International Settlements (BIS) Innovation Hub and the South African Reserve Bank have announced the completion of a prototype system enabling international settlements using central bank digital currencies.

The 145-year-old US insurance and investment giant Prudential is buying a 15% stake in Alexander Forbes, and wants to eventually expand its holdings to a third of the company.

While some experts have warned that South Africa’s petrol prices could climb to as high as R40/litre on the back of Russia’s invasion of Ukraine, this is highly unlikely, says Efficient Group senior economist Dr Francois Stofberg.

South Africans should brace themselves for record fuel price increases in April given the ongoing market volatility emanating from the Ukraine-Russian conflict.

An expansion in electricity production across sub-Saharan Africa will require US$350 billion of investment if it’s to reach all citizens, with off-grid generation accounting for a fifth of the total, according to consultant Wood Mackenzie Ltd.

The South African Reserve Bank’s Monetary Policy Committee is expected to hike interest rates by a further 25 basis points on 24 March, say economists at banking group Absa.

Rand Merchant Investment Holdings (RMI) plans to list OUTsurance, the company has confirmed.

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