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Africa-news (597)

Ralph Mupita, just another normal lad from Mutare, Zimbabwe, is a kingmaker in the corporate universe sitting at the helm of Africa’s largest mobile network operator, the MTN Group. An Engineer by training, Ralph has traversed several corporate functions including strategy and finance.

Africa countries need to use their gas reserves to lift more people out of poverty and build industry as they try to catch up with more developed countries even while the world seeks to cut emissions, some industry officials said on Tuesday.

South Africa could achieve higher economic growth if it moves away from coal and adopts renewable energy sources, a report by the World Bank shows.

South Africa’s central bank said it will continue using interest rates to curb inflation, and responded to calls for its mandate to explicitly include promoting economic growth and creating jobs by saying monetary policy already targets those indicators.

Standard Bank is open to acquisitions in Nigeria and Kenya as Africa’s biggest lender by assets expands its presence in key markets on the continent.

The rand, despite being unable to escape the developments made by the dollar recently, is fundamentally undervalued and should recover in coming quarters, says Michael Keenan, a forex strategy researcher from Absa.

The European Union reached a deal to effectively ban new combustion-engine cars from 2035, a move that will reshape transportation and mark a significant step on the path to reduce carbon emissions.

The Johannesburg Stock Exchange (JSE) published a consultation paper in May 2022 as part of its ongoing efforts to ensure that the bourse is fair, efficient, transparent, and competitive – requesting stakeholders to comment on a raft of proposals.

A new report has revealed that 5G-related activities are picking up across the Sub-Saharan Africa region, including 5G spectrum auctions, 5G pilots and commercial trials, and efforts to develop locally relevant 5G use cases.

On Monday, shares in JSE-listed Naspers plunged more than 17% - erasing R130 billion from its market capitalisation, the equivalent of Shoprite's total market value, in a single day.