Africa-news (334)

Petrol prices may surge by more than R3.50 a litre in the first week of June, with Gwede Mantashe, Minister of Mineral Resources and Energy, saying that the general fuel levy cut will fall away at the end of May.

A digital rand in South Africa could cut the high cost of cross-border payments for banks, says Juben Naidoo, deputy governor at the South African Reserve Bank (SARB).

Balloons normally conjure up images of birthday parties, happy times, and harmless fun. A balloon payment on a vehicle finance agreement, on the other hand, can potentially cost you a lot of money and destroy long-term wealth.

The Reserve Bank's monetary policy committee has increased the repo rate by 50 basis points to 4.75%. This is the largest hike since January 2016.

Cryptocurrency can supplement mobile money in Africa if regulators can be convinced of its benefits, according to the chief executive of Kenya’s biggest lender by market value.

Central banks in five of eight major African nations will likely hold interest rates in the next two weeks to shore up their sickly economies, even as inflation pressures build.

The head of Nigeria's treasury has been arrested for alleged involvement in fraud and money laundering worth 80 billion naira (~R3.19 billion), the national anti-graft agency said.

Zimbabwe lifted a 10-day ban on bank lending as critics warned that the government has shattered confidence in the already stagnant economy.

Botswana, Africa’s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country’s minister told a mining conference on Monday.

The South African rand fell in early trade on Monday amid subdued risk-taking as investors sought safety due to fears about global growth, while power cuts on the domestic front clouded the economic growth outlook.

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