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African Continental Free Trade Agreement Comes Into Effect
May 30, 2019--The African continental free trade agreement legally came into effect at midnight, but the countries that have signed up have until July to work out the details of how it will work.
It is only from then that we'll start to see what difference it could make.
The AU's commissioner for trade and industry Albert Muchanga celebrated the news on Twitter.
So far, only 24 African countries out of 54 have ratified the trade agreement with, among others, Africa's largest economy Nigeria yet to sign.
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Source: allafrica.com
JSE bucks trend in other global indices to close firmer
May 29, 2019--The local bourse rallied to close higher on Wednesday mainly on the back of a broad-based rebound across the sectors which fell in the prior session.
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Source: FIN24
Markets WRAP: Rand ends day at R14.74/$
May 29, 2019--After falling by 1% against the dollar in early trade, the rand recouped its losses to trade even against the greenback when the local market closed.
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Source: FIN24
Index change prompts record outflows from South Africa stocks
May 29, 2019--Foreign investors' sales of South African stocks jumped to a record as emerging-market index changes by compiler MSCI prompted money managers to adjust their holdings.
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Source: FIN24
Surge in miners fails to lift JSE
May 28, 2019--The JSE closed flat on Tuesday despite significant gains being recorded by the resources index.
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Source: FIN24
Markets WRAP: Rand closes at R14.73/$
May 28, 2019--The rand lost more than 2% against the dollar.
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Source: FIN24
Markets WRAP: Rand closes at R14.44/$
May 27, 2019--"The only shining light for our local unit can be that our newly elected president, Cyril Ramaphosa announces a Cabinet later in the week that can really turnaround SA and the slippery slope we're on," TreasuryONE said earlier.
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Source: FIN24
JSE barely closes firmer after flat trading session
May 27, 2019--The JSE traded mostly flat on Monday before closing firmer as investors looked for fresh signals on market direction.
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Source: FIN24
Africa: Will Free Trade Be Continent's Economic Game Changer?
May 24, 2019--The ambitious African Continental Free Trade Agreement (AfCFTA) which technically enters into force on 30 May could be the game changer for Africa's hitherto lackluster economy. Driven by Rwandan President Paul Kagame, the process of reaching this point may well have broken all African records. African Union member states launched negotiations to create this huge market of 1.2 billion people with a GDP of over US$3.4 trillion in only March last year.
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Source: allafrica.com
Markets WRAP: Rand closes at R14.4339/$
May 24, 2019--Sterling gained for the first time in 15 sessions against the common currency Friday, having been battered this month by the prospect that a hard-line Brexit candidate could replace May.
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Source: FIN24
