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Namibia’s economy grew by N$1.1 billion in Q3, recording a 2.3% growth compared to a decline of 12.3% recorded in the corresponding quarter of 2020, latest official figures show.

Eskom reported a 4 000% improvement in net profit for the six months ended in September. The power utility reported a R9.2 billion interim profit for the six months ended in September, but still expects to incur a R9.1 billion loss when the financial year ends in March.

The former owners of footwear retail company Tekkie Town have arrived at a settlement agreement with the Steinhoff Group, they said in a statement on Wednesday.

The cost of living in Johannesburg shot up in 2021, mostly due to petrol and car prices that kept climbing, while a stronger Rand compared to 2020 made local prices more expensive in US-dollar terms.

The festive season is once again upon us, and this time of year is synonymous with spending, as people travel for some time away or to be with their families. Unfortunately, this period is also rife with attempts to defraud unsuspecting consumers of their hard-earned money.

The City of Windhoek has announced that its Management Committee has accepted the withdrawal of the resignation of O’Brien Hekandjo, the Strategic Executive: Electricity.

The Government Institutions Pensions Fund (GIPF) says it has approved N$72 million to be invested towards the construction of an oxygen plant in the country.

Trustco Group Holding has been given an ultimatum by the Johannesburg Stock Exchange to submit its provisional financial statements by the end of this month or face suspension from the bourse.

Here's some fizzy water with a kick… Coca-Cola has launched an alcoholic version of the drink.

South Africa’s inflation rate jumped to the highest level in almost five years in November, underscoring the difficult choice the central bank faces to strike a balance between taming price growth and supporting an economy grappling with the fallout from a fourth wave of coronavirus infections.

Consumer prices rose 5.5% from a year earlier, compared with 5% in October, Statistics South Africa said Wednesday in a statement published on its website. That’s the highest level since March 2017 and matches the median estimate of 14 economists in a survey.

Headline inflation, stoked by record-high fuel prices and rising food costs, has now breached 4.5% – the midpoint of the central bank’s target range at which it prefers to anchor expectations – for seven consecutive months.

The South African Reserve Bank last month raised its benchmark interest rate and signalled further increases. Policymakers may be forced to rethink that strategy as international travel bans imposed after the discovery of the omicron variant in the country risk stalling its economic recovery.

The implied policy rate path of the central bank’s quarterly projection model, which the monetary policy committee uses as a guide, last month indicated one 25-basis point rate increase in each of the next 12 quarters. Governor Lesetja Kganyago has long maintained that the model is a broad policy guide and that future interest-rate decisions will be data-dependent.

Economists predict South Africa will miss the central bank’s economic growth forecast of 5.2% for 2021 after output fell more than expected in the third quarter and more than 90 nations severed air links with the country before its summer holiday season over concerns about omicron.

Forward-rate agreements starting in two months, used to speculate on borrowing costs, signal traders are fully pricing in a quarter-point increase in the repurchase rate in January.-bustech