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Markets LIVE: Rand breaks above R14/$ on back of load shedding, strong dollar
February 14, 2019--The local currency was trading at 14.0600 on Thursday morning, taking hits from Eskom, poor local retail sales data and a stronger dollar.
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Source: FIN24
Local bourse closes flat as rand weakens
February 14, 2019--The US dollar did retreat after the release of US retail sales data which came in worse than anticipated, but this did not result in significant strengthening for the rand and other emerging market currencies. The rand was trading 0.84% weaker at R14.18/$ at 17:00.
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Source: FIN24
IMF Departmental Papers -FinTech in Sub-Saharan African Countries: A Game Changer?
February 14, 2019--Summary:
FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry.
While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
view the IMF Departmental Papers-FinTech in Sub-Saharan African Countries: A Game Changer?
Source: IMF
JSE edges higher as trade talk optimism continues to lift global stocks
February 13, 2019--The JSE records gains as it tracks other buoyant global markets.
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Source: FIN24
Markets WRAP: Rand closes at R13.76/$
February 12, 2019--Andre Botha, Senior Dealer at TreasuryONE said, "The rand stepped on the proverbial banana peel yesterday, as it slipped back to the R13.80 levels against the US dollar."
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Source: FIN24
Nigeria's GDP Grows By 2.38% in Q4 2018
February 12, 2019--The Nigeria's Gross Domestic Product, GDP grew by 2.38 percent in real terms (year on year) in the fourth of 2018, the National Bureau of Statistics, NBS has said.
In its quarterly report released on Tuesday, the bureau said the growth represents an increase of 0.27% points, when compared to the fourth quarter of 2017, which recorded a growth rate of 2.11%.
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Source: allafrica.com
JSE inches higher as Chinese markets reopen
February 11, 2019--Concerns still linger around global economic growth which has resulted in demand for less riskier assets such as bonds and the US dollar surging.
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Source: FIN24
Markets WRAP: Rand closes at R13.77/$
February 11, 2019--TreasuryONE said earlier that emerging market currencies started the day on the back foot and that the rand was likely to come under pressure.
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Source: FIN24
AFDB-African Economic Outlook 2019
February 11, 2019--This year's African Economic Outlook from the African Development Bank shows that the continent's general economic performance continues to improve.
Gross domestic product reached an estimated 3.5 percent in 2018, about the same as in 2017 and up from 2.1 percent in 2016. Africa's GDP growth is projected to accelerate to 4.0 percent in 2019 and 4.1 percent in 2020.
But even that growth is not fast enough to address persistent fiscal and current account deficits and unsustainable debt. Indeed, countries have to move to a higher growth path and increase the efficiency of growth in generating decent jobs.
view the AFDB-African Economic Outlook 2019
Source: African Development Bank
Markets WRAP: Rand ends at R13.58/$
February 8, 2019--At 17:00 on Friday the local currency was trading 0.2% stronger against the dollar.
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Source: FIN24
