Africa-news (598)

FirstRand has announced key leadership changes at the group, with both group CEO Alan Pullinger and FNB CEO Jacques Celliers moving on from their roles.

The South African Reserve Bank’s Monetary Policy Committee has elected to hold rates in a tight vote.

Saudi Arabia and Iran are among six countries to join BRICS as new members next year, South African President Cyril Ramaphosa has announced, on the final day of a summit.

The South African Reserve Bank (SARB) may have paused its interest rate hiking cycle last week, but there could be another hike around the corner.

Africa has the potential to become a major player in the global green hydrogen economy, with the potential to generate more than 1 000 GW of renewable energy and could produce up to 5 000 megatonnes of green hydrogen a year at less than US$2/kg, says business advisory company Frost and Sullivan Africa energy consultant Patrick Prestele.

A new deal Botswana signed this month with De Beers that will give it access to more diamonds mined within the country will be a major boost for the economy, President Mokgweetsi Masisi said in an interview.

Zambia has reached an agreement to restructure its debt, following talks in Paris.

The South African Reserve Bank (Sarb) will hike the repo rate for the last time in the current cycle on Thursday, then hit brakes.

Most African central banks due to decide on interest rates in the next two weeks are set to keep them on hold as decades-high inflation eases after more than a year of tightening.

Faced with sticky inflation but sluggish economic growth, the South African Reserve Bank (SARB) is considering changing its interest rate modelling tool.

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