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Nigeria: Economy to Contract By 3.4% in 2020-Govt
May 6, 2020--The Federal Government yesterday revised downward its earlier forecast of 2.9% growth for the nation's economy this year, saying rather, the economy will contract by 3.4%.
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Source: allafrica.com
Firmer close in Asia lifts JSE All-Share Index
May 6, 2020--On the currency market, the rand traded softer against the greenback as it slipped to a session low of R18.77/$.
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Source: FIN24
SA economy could shrink by up to 17% in 2020 despite stimulus, warns business alliance
May 6, 2020--South Africa's GDP could shrink by between 10% and 16.7% this year despite stimulus efforts due to a sharp plunge in economic activity, according to Business for South Africa.
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Source: FIN24
Nigeria: Portfolio Investment-Domectic Investors Outperforms Foreign Investors By 10 Percent in March
May 5, 2020--The total value of portfolio investment transactions executed by domestic investors on the Nigerian Stock Exchange, NSE for the month of March 2020 has outperformed transactions executed by Foreign Investors by 10 percent.
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Source: allafrica.com
Zimbabwe: Outrage Over U.S. Dollar Priced COVID-19 Test Kits
May 5, 2020--While all businesses in the formal sector can now reopen under strict health conditions as Zimbabwe moves into level 2 lockdown, many were unable to do so yesterday with the rapid testing of staff being the biggest single problem as private suppliers were demanding US$25 a test kit, payable only in foreign currency.
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Source: allafrica.com
JSE retreats as global markets fret over economic growth
May 4, 2020--Deep losses were recorded across most European benchmarks except the FTSE 100 which managed to trade relatively flat on the day.
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Source: FIN24
South Africa-Government assesses coronavirus damage to economy
May 2, 2020--South Africa’' economy could contract by as much as 16.1% this year, depending on how long it takes to contain the coronavirus pandemic and for the economy to recover to the end of 2020
South Africa's National Treasury expects job losses, tax losses and a contracting economy due to the coronavirus pandemic and the lockdown to halt its spread.
The finance minister will only present an adjustment budget, which accounts for the impact of the pandemic and economic relief measures, in June or July, according to Treasury and tax officials who briefed lawmakers on the potential impact of the virus on Thursday.
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Source: fin24.com
JSE erases earlier gains as global economy exhibits more strain
April 30, 2020--The local bourse had managed to open firmer following a rally in Asian stocks in earlier trading.
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Source: FIN24
SA stocks are on track for a record month
April 30, 2020--Unprecedented demand for online services and entertainment during the Covid-19 pandemic lockdowns, along with a scramble for haven investments, have helped set South African stocks on course for a record.
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Source: FIN24
NSE Market Indices Resume Week With 0.07 Per Cent Rise
April 28, 2020--Activities in the nation's bourse on Monday resumed for the week on a positive note with a marginal growth of 0.07 per cent due to mild increases in MTN Nigeria and some Tier one banks.
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Source: allafrica.com
