The Brief is an online news portal and going source with a focus on the Namibian business sector, current affairs, companies and financial markets.
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February 03, 2023
Africa-news (564)
Oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia's invasion of Ukraine.
CryptoConvert has announced that its CryptoQR platform is now active at all Pick n Pay stores around South Africa, allowing shoppers to pay with Bitcoin using the Lightning network.
The African Development Bank will commit US$10 billion over the next five years to boost food production on the continent and help end its reliance on imports.
South Africa’s main stock exchange will probably continue haemorrhaging listings over the next year as companies grapple with onerous regulatory and funding conditions, making it less attractive to raise capital through initial public offerings.
The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has voted to hike interest rates by 25 basis points (bp), taking the country’s repurchase rate to 7.25%.
Farmers in Africa will need as much as US$65 billion (nearly R1.2 trillion) in loans annually to produce enough food to curb imports and cushion their economies from external shocks.
President Yoweri Museveni has commissioned Uganda’s first of four oil rigs to start drilling at the Kingfisher field on the shores of Lake Albert as the country eyes production in 2025.
South America’s two largest economies have considered options to coordinate their currencies for decades, often to counter the influence of the dollar in the region.
South Africa’s Monetary Policy Committee (MPC) will hold its first meeting of the year to decide on interest rates on Thursday, and while economists agree that the central bank will continue to hike rates, they are split on the size of the increase.
The most severe power cuts ever experienced in South Africa are threatening food and water supplies and disrupting the lives of millions of people, including chicken farmers.
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Zambia and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) and Joint Development Agreement (JDA) to facilitate massive investment in renewable energy in Zambia.
Barring any black swan events and other market shocks, the rand has the potential to strengthen further in 2023, and could see a period of relative stability, says Investec.
A decision to set up the East African Monetary Institute --the Central Bank of East Africa—will be made this year, a key establishment required in implementing a single currency regime.
South Africa faces a 45% chance of slipping into recession this year as South Africa’s electricity crisis deepens, according to a survey of economists by Bloomberg this month.