Home Topics Olivia Kumwenda-Mtambo
South Africa’s rand fell to its weakest in more than three weeks on Monday, as fears about the economic fallout from rising COVID-19 cases dented investors’ appetite for riskier assets.
South Africa’s economy could contract 8.2% this year, and grow just 0.6% in 2021, if a second wave of COVID-19 cases hits the country and its main trading partners, the OECD said on Friday.
South Africa’s rand firmed against the dollar early on Wednesday, ahead of domestic consumer price inflation figures and the U.S. Federal Reserve’s monetary policy decision.
South Africa’s retail sales plunged by a record 50.4% in April and 12% in May, data showed on Wednesday in the latest evidence of the impact of the early, stricter phase of the country’s coronavirus lockdown.
South Africa’s manufacturing output fell 49.4% year on year in April during a nationwide lockdown, after contracting by a revised 5.5% in March, the statistics agency said on Thursday.
Malawi’s new President Lazarus Chakwera pledged to clamp down on corruption on Monday, as he delivered his inauguration speech in a scaled-down ceremony dampened by a surge in COVID-19 cases.
South Africa’s current account balance swung to a surplus of 1.3% of gross domestic product (GDP) in the first quarter of 2020 from a deficit of 1.3% of GDP in the previous three months, central bank data showed on Thursday.
The South African rand fell against the dollar in early trade on Tuesday, amid growing concerns over U.S.-China tensions and rising violent protests across the United States.
The South African government has agreed to fund a restructuring of South African Airways (SAA), if a business rescue plan for the struggling state-owned airline is adopted, a copy of the draft plan showed on Monday.
A raft of South African tobacco companies, activists and associations are seeking legal action over the ban on cigarette sales during the country’s coronavirus lockdown.
Administrators at South African Airways have asked creditors to approve an extension until June 8 for the publication of a business rescue plan for the struggling state airline, a letter seen by Reuters said.
Growth in private sector credit in South Africa in April slowed to 7.37% year on year from a revised 7.75% in March, central bank data showed on Friday.
South Africa’s rand weakened against the dollar early on Friday as investors monitored the latest U.S. response to China tightening its control over the city of Hong Kong.
South African state asset manager the Public Investment Corporation (PIC) has submitted a proposal to government on converting bonds it holds in struggling state utility Eskom into equity, PIC chairman Reuel Khoza told Reuters in an interview.
South African maize farmers are expected to harvest more maize in 2020 compared with the previous season on the back of favourable weather conditions, a Reuters survey showed on Tuesday.
S&P Global Ratings on Friday said it projects South Africa’s economy to shrink by 4.5% this year as a result of the COVID-19 pandemic that has impacted production and consumption.
South Africa is seeking 95 billion rand ($4.99 billion) from multilateral lenders to help it fight the COVID-19 pandemic, a senior Treasury official said on Sunday.
South Africa plans to reopen its agriculture sector and allow some manufacturing and retail to resume as the country balances the need to restart economic output and curb the spread of the new coronavirus, trade minister Ebrahim Patel said on Saturday.
12Page 1 of 2
The Kano Electricity Distribution Company (KEDCO) on Tuesday urged potential tenants to always verify electricity bill status before renting apartments in Kano, Katsina and Jigawa States.
Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, disclosed this on Tuesday in Lagos while briefing the media after the second edition of the monthly meeting of heads of maritime parastatals, held at the NIMASA headquarters.
China said it has made headway in cracking down on illegal online businesses, said a report on the country’s cybersecurity in 2019.
Kwara has recorded eight new cases of the coronavirus (COVID-19) pandemic as at 11.45p.m on Monday, Aug 10.
Dr. Obadiah Mailafia, a former Deputy Governor of the Central Bank of Nigeria, says repentant terrorists revealed that a serving northern governor is a Boko Haram leader. Mailafia said this on ‘Morning Crossfire’ programme on Nigeria Info Abuja 95.1FM on Monday.
The National Association of Nigerian Students, South-West Zone, has given the Department of State Services till Monday to release detained #RevolutionNow protesters.
More than 60 people are still missing in Beirut, four days after a massive explosion at the port left more than 150 people dead, a health ministry official said Saturday.
Manchester City are "more than a match" for Real Madrid but they must be wary of Karim Benzema's threat in the final third, says Joleon Lescott.
Six persons, including a former councillor have been kidnapped by bandits in Jangeme village of Wanke district of Gusau Local Government Area, Zamfara State.
At least 10 people were killed and more than 3,300 homes ruined by flooding triggered by torrential rains across much of Sudan this week, the country’s civil defence organisation said Thursday.