Africa-news (579)

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. 

UK’s main equity indexes hit session highs on Monday as Rishi Sunak looked set to become the next prime minister after other candidates quit the race, offering investors some relief after a tumultuous few weeks in UK politics.

The African Development Bank is setting up a US$1.5 billion green finance facility to help meet surging demand for money to develop clean energy and defend infrastructure against floods, storms and rising seas exacerbated by global warming.

The British pound sank against the dollar Friday on political uncertainty after the resignation of UK Prime Minister Liz Truss, while weak economic data added to the turmoil.

Sub-Saharan African banks are increasingly worried about funding costs, an annual survey published on Wednesday found, as soaring interest rates both on the continent and globally make financing more expensive.