Africa-news (592)

Central banks worldwide are using aggressive interest rate hikes to lasso galloping inflation, at the risk of pulling down the global economy with it.

Botswana, a top beef exporter to the European Union, plans to slaughter 10,000 cattle to curb an outbreak of foot-and-mouth disease, a minister said Monday.

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) is set to hike interest rates on Thursday (22 September) this week in an attempt to support the rand and control inflationary forces, but economists differ in expectations on how much.

Volkswagen AG is looking to raise as much as 9.4 billion euros ($9.41 billion) from the initial public offering of its iconic sports-car maker Porsche AG in what could be Europe’s largest listing in more than a decade.

Work-related group chats have become all too common, with employees and employers able to communicate at a touch of a button even outside of work hours – opening up the possibility of something controversial being said.

Zambia’s international bondholders have criticised the International Monetary Fund’s (IMF’s) debt restructuring framework as “arbitrary” and for excluding the country’s domestic debt, sources involved in the process have said.

Canal+, a unit of France’s US$9.7 billion Vivendi SE, has been speeding up its acquisition of shares in South African television and entertainment company MultiChoice Group, with its stake having risen to 26.26% from 15.37% a year ago.

Germany raised 760 million euros (US$760 million) from the sale of a stake in Deutsche Lufthansa AG, unwinding all of the holding it took to keep the flagship carrier afloat during Covid-19 lockdowns.

The rand is expected to be beaten around by global markets in the coming months, as inflationary and interest rate pressure from central banks in the US and the European Union continue to dominate global market movements.

Barclays Plc is expanding private-banking services in Africa, looking to target the continent’s US$2 trillion high-net worth market.