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Monday, 25th October 2021
4:54:52am

Economy

Articles related to economy

South Africa extends COVID-19 loans for struggling businesses

South Africa has doubled to six months the term of loans to small and medium-sized businesses to help them survive the COVID-19 recession and made other changes to make the credit easier to access, the treasury said on Sunday.

President Cyril Ramaphosa announced the 200 billion rand ($12.00 billion) loan scheme in April to help businesses, as part…

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South African rand firms as dollar wobble lifts emerging currencies

South Africa’s rand firmed early on Monday, helped by increased risk appetite as investors bet again on a global economic recovery.

The rand was 0.36% stronger at 16.7100 against the dollar at 0645 GMT, its best level since June 11, having gained steadily since opening above the 17.00 mark last Monday. 

The gains have been driven mainly by global…

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Botswana needs $3.4 billion in stimulus, to plug budget deficits

Botswana needs a total of 40 billion pula ($3.40 billion) over the next 2-1/2 years to revive its coronavirus-hit economy and to cover expected budget deficits, estimates by the ministry of finance showed on Friday.

Botswana has a relatively low number of COVID-19 infections with only three active cases remaining and one death, but the economy has…

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S.Africa consumer confidence crashes to 35-year low in second quarter - survey

South Africa’s consumer confidence plunged to a 35-year low in the second quarter, moving deeper into the negative territory as the COVID-19 pandemic hammered the economy, a survey showed on Tuesday.

The consumer confidence index (CCI), sponsored by First National Bank (FNB) and compiled by the Bureau for Economic Research, slumped to minus 33…

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South African rand weaker as second wave fears hurt markets

South Africa’s rand opened weaker on Monday as investors sold riskier currencies on fears of a second wave of the coronavirus in Beijing.

At 0652 GMT, the rand traded at 17.31 versus the dollar, around 1.5% lower than its close on Friday. 

Government bonds also dropped, with the yield on the 2030 bond rising 9 basis points to 9.32%.

Some investors…

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