Business & Finance

By Luyanda Makapela

Pretoria – Indebted South Africans can temporarily breathe a sigh of relief with the announcement that the repo rate will remain unchanged.

The South African Reserve Bank (SARB)’s Monetary Policy Committee (MPC) decided to keep the interest rate unchanged at 12 percent following its two-day meeting.

Addressing reporters on Thursday, Reserve Bank Governor Tito Mboweni said: “The MPC has considered the recent economic developments ...

Windhoek – President Thabo Mbeki and his Namibian counterpart Hifikepunye Pohamba on Tuesday reviewed progress on strategic bilateral progress with a view to strengthen regional integration.

“The Economic Bilateral took place within the context of South Africa's priority to consolidate bilateral political, economic and trade relations with Namibia with a view to advancing the African agenda.

“Furthermore on regional and multilateral trade relations, the ...

HARARE, 4 August 2008 (IRIN) - Attempts to tame Zimbabwe's multimillion percent annual inflation rate had an inauspicious beginning on 1 August when banks turned customers away after running out of cash.

Reserve Bank governor Gideon Gono sees the introduction of a new currency that will lop off ten zeroes from the old currency, effectively revaluing Z$10 billion to one Zimbabwe dollar, as the solution to the country's hyperinflation.

On 4 August, US$1 was equivalent ...

MUTARE, 6 August 2008 (IRIN) - Diamonds have scripted a typical rags to riches story for Bonny, 35, who spent most of his life on the streets before the discovery of the gems three years ago, near the eastern Zimbabwe town of Mutare, transformed his life. "I have, over the last two years, acquired a fleet of 12 cars and several houses in Mutare and in the capital, Harare," Bonny told IRIN.
"When the diamond rush began, very few people believed the stones were precious. ...

Interview With Netsai Mlilo - Download (MP3)
Interview With Netsai Mlilo - Listen (MP3)

Cash shortages continue to be reported around Zimbabwe on Monday as banks struggled to reconfigure equipment to handle the new currency that the central bank started to distribute on Friday.

Sources said the distribution of new ...