Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Markets WRAP: Rand closes at R14.53/$
June 19, 2019--The rand closed at R14.53/$ on Wednesday.
view more
Source: FIN24
Coping with Falling Oil Prices: The Different Fortunes of African Banks
June 17, 2019--Summary:
This paper studies the impact of declining oil prices on banks in sub-Saharan African oil-exporting countries. Results indicate that banks respond differently to an oil shock depending on their ownership: (i) domestic banks are the most adversely impacted and experience a deterioration in asset quality and liquidity;
(ii) foreign-owned banks are the most resilient as they are able to improve asset quality and attract deposits but at the same time, they decelerate credit growth; in contrast, (iii) Pan-African Banks help stabilize overall credit but large banks in that segment experience reduced asset quality. These differentiated results suggest a tradeoff between maintaining credit growth and safeguarding financial stability in an oil slump which could be addressed by both micro- and macroprudential policies.
view the IMF Working Paper-Coping with Falling Oil Prices: The Different Fortunes of African Banks
Source: IMF
SA gold slump continues as annual production falls by 19.5%
June 13, 2019--June 13, 2019--SA loses African gold crown to Ghana
South Africa turns unlikely haven as gold's rally boosts stocks
Over 3 000 gold mine workers affected by Sibanye-Stillwater restructuring
Drop in demand for gold jewellery-survey
South Africa's embattled gold sector faced more bad news on Thursday. According to Stats SA, annual gold production shrank by 19.5% in April, its 19th straight monthly decrease.
Annual production fell by 18.3% in March and 21.1% in February.
According to Stats SA, annual iron ore production was down 11.9%, while chromium ore fell by 7.2%.
Total mining production decreased by 1.5% year-on-year.
view more
Source: FIN24
Markets WRAP: The rand closes at R14.76/$
June 14, 2019--The day's range was between R14.78 and R14.88.
view more
Source: FIN24
Africa: Magufuli Reveals 'Strange' Conditions Set By Investors for African Countries
June 13, 2019--Tanzania President John Pombe Magufuli has lifted the lid on some of the strange conditions given to African leaders by investors while negotiating development projects.
The no-nonsense leader spoke while addressing stakeholders in Dar es Salaam. He said that some of these conditions could only appeal to a "madman".
"Imagine someone telling you that I will build you a port but on a condition you will not be allowed to construct or develop any other port in the country for a specified period."
view more
Source: allafrica.com
Markets WRAP: Rand closes at R14.89/$
June 13, 2019--TreasuryONE said earlier that the rand had lost all of its gains and opened far weaker on Thursday morning while Peregrine Treasury Solutions's Bianca Botes said that US President Donald Trump was fuelling currency jitters yet again.
view more
Source: FIN24
Markets WRAP: Rand closes at R14.8068/$
June 12, 2019--The rand closed at R14.8068/$ on Wednesday.
view more
Source: FIN24
Rand holds steady as JSE advances
June 11, 2019--Global equity markets have continued to rally on Tuesday as the Bank of China stepped in to provide liquidity in the Chinese market.
view more
Source: FIN24
Markets WRAP: Rand closes at R14.78/$
June 10, 2019--The rand strengthened by more than a percent on Monday and closed at R14.78/$, having opened at R14.90.
view more
Source: FIN24
Markets WRAP: Rand closes at R14.91/$
June 7, 2019--The rand closed at R14.91/$ on Friday, having broken through R15/$ earlier in the week for the first time in eight months.
view more
Source: FIN24
