Money & Finance

South Africa’s consumer inflation climbed to 3.0% in June, up from 2.8% in May, as household budgets face ongoing strain from rising goods prices, according to Statistics South Africa (Stats SA). The increase was largely fueled by a surge in food prices, which reached a 15-month high. Stats SA reported that the annual rate for […]

The construction of a new R168-million facility for the Rivoni School for the Blind in Njakanjaka village, Limpopo, has been plagued by delays, leaving visually impaired learners in dilapidated conditions. Initially slated for completion in June 2024, the project remains incomplete, with a new target date of 10 December 2025. The contract, awarded to Clear […]

Zimbabwe’s civil servants are struggling as government fails to meet December payroll, intensifying concerns about public sector compensation amid economic challenges. Civil servants in Zimbabwe, including teachers, have not received their December salaries, marking the second consecutive month of payment delays by the government. The disruption affects thousands of public sector workers during the holiday […]

Zimbabwe’s latest endeavour to stabilize its currency market involved introducing the ZiG, a gold-backed currency, on April 8. Despite initial turbulence, the ZiG exhibited signs of resilience, gaining 0.2% against the US dollar on its second day of trading. Governor John Mushayavanhu led the Reserve Bank of Zimbabwe in spearheading this initiative, emphasizing a shift […]

The Reserve Bank of Zimbabwe (RBZ) announced the replacement of the Zimdollar with a new unit called ZiG, backed by a basket of foreign currency and gold. RBZ Governor John Mushayavanhu disclosed this during a press conference in Harare on Friday, April 5. ZiG will debut on April 8 at an initial rate of 13.56 […]

As Zimbabwe anticipates the introduction of a new structured currency, economists caution that while it may diversify saving avenues for citizens, it may not sufficiently tackle the nation’s hyperinflation crisis. The crux of the issue lies in governmental manipulation of financial mechanisms. Scheduled for unveiling this Friday alongside the 2024 Monetary Policy Statement by Reserve […]

A South African bank disclosed on Wednesday that a court had issued a directive to halt outgoing transactions from former president Jacob Zuma’s accounts, amidst a legal dispute concerning loans utilized for enhancements to his private residence during his tenure. First National Bank (FNB) stated that the measure came about following legal action initiated by […]

Zimbabwe is grappling with a staggering negative trade deficit of US$6.8 billion over the last four years, as highlighted by Buy Zimbabwe, a group advocating for the consumption of domestic products. “We’ve been operating with a negative trade balance, with imports exceeding exports, totalling US$31 billion against exports of US$24.2 billion from 2020 to 2023,” […]

ZESA is set to implement a nationwide campaign to terminate electricity services to numerous customers with outstanding debts exceeding US$500. Despite prior assurances that these debts would be addressed through deductions from prepaid electricity recharge tokens, the parastatal aims to recover at least US$80 million monthly out of the total US$1.1 billion owed since the […]

The South African rand ended stronger after a volatile day of trading on Monday, helped by receding fears of widespread market contagion from indebted Chinese developer Evergrande. At 1640 GMT, the rand traded at 14.9125 against the dollar, around 0.3% firmer than its previous close. Evergrande owes $305 billion and has run short of cash, […]

One of the most fascinating elements of Switzerland’s success is its determination to remain neutral under unimaginable pressure to pick sides. The country has not declared a state of war since 1847 (it never entered the World Wars or the Iraq war) and opted out of joining the European Union. They didn’t even join the […]

Is being an entrepreneur in your DNA, or can it be taught? A new study from Babson College finds the evidence is “overwhelming” that if business students take at least two core entrepreneurship classes, that can “positively influence” them to go on to start up a business.   Professors at the Wellesley, Massachusetts-based college analyzed […]