03/22/2023
Big changes coming to banks across South Africa
The new system allows consumers using popular commercial banks to send up to R3,000 with just a phone number instead of a bank account number.
Alternative Investments
03/21/2023
Prices for these properties in South Africa are rising much faster than the rest
By comparison, the mid-value residential property is only sitting at 3.4%, still the second highest segment.
03/21/2023
KCB adds 2,500 staff on Congo unit buyout
Tanzania, Uganda and Burundi units added 10, six and three workers respectively, further deepening KCB Group’s position as the biggest employer among Kenyan lenders.
03/20/2023
Stanchart invests Sh200m in cyber safety
Cybercrime is going to be the biggest challenge in the financial sector for many years to come
03/20/2023
Sanlam eyes faster growth in Allianz joint venture deal
Sanlam will own a 60 percent stake in the joint venture while Allianz will hold a 40 percent interest with an option to buy an additional nine percent ownership in the future.
03/20/2023
Property buyers in South Africa are being cautious
The SARB will meet again at the end of March, with most economists anticipating another 25bp hike, signalling the peak of the cycle.
03/17/2023
Gold price at Kenya stock market hits historic highs
Investors in the NewGold ETF are holding onto the asset, reflected by muted trading at the NSE amid increased turnover in the equities segment.
03/16/2023
Banks plan for R7.8bn of losses as Ghana restructures debt
“We dealt with the risk, because as we see it, while there’s a potential for a better outcome, there’s also potential for a worse outcome,” Absa Chief Financial Officer Jason Quinn said in an interview.
03/15/2023
SA banking stocks feel the heat but largely escape global financial contagion
The combined market capitalisation of the MSCI World Financials Index and MSCI EM Financials Index has dropped about $465bn in three days, Bloomberg reported.
03/10/2023
Businesses put up R100 million to help end load shedding
The money raised will be used to procure capacity and expertise to help support the implementation of the country’s Energy Action Plan over a one- to two-year period.
03/09/2023
Investors book record returns in the March infrastructure bond
After holding out for most of last year against breaching the 14 percent level on bond issuances, the CBK has in this year’s sales shown a willingness to take up more expensive bids, reflecting the pressure on the government to raise revenue.
03/09/2023
Inter-bank lending rate at 18-month high on tight liquidity
The daily borrowings touched a high of Sh46.6 billion on February 7, pointing to thinning liquidity in the banking sector that translates to slower lending to the private sector.
03/09/2023
Italians top buyers of Kenya prime real estate
The survey did not state the value or number of luxury real estate bought by foreigners in Kenya.
03/09/2023
Business confidence in South Africa continues to circle the drain
Confidence in manufacturing and consumer-facing retail tanked, while sentiment was little changed in the case of building contractors.
03/09/2023
Tanzanians Urged to Capitalise On Global Economic Challenges
We should not consider economic challenges or conflicts as something that hurts us but it is time as a nation to discuss the changes in the economic environment in the world
03/08/2023
Alarm bells for property owners in South Africa
The bank expects further tweaking of national property values and heightened business migration in search of a “better deal”.
03/08/2023
Power ships in South Africa hit another roadblock
The Turkish company won a tender in March 2021 to supply the electricity but has since been mired in lawsuits and environmental challenges.
03/08/2023
Investment firm gets ‘BBB’ rating
The statement said, “The positive rating assigned reflects DataPro’s opinion of LandWey’s diversified revenue source, good project experience as well as it’s macroeconomic environment.
03/08/2023
Economic growth hits the wall amid crippling power cuts
Shocking GDP contraction in the fourth quarter is far worse than expected by economists
03/07/2023
Global economists see faster increase in Kenya’s inflation
“Extreme weather events and additional currency depreciation are upside risks.”