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1-10 results from 1000 for query «banks»

29 November 2018 5:02 PM Reserve Bank independence `not just an emerging-market concern'

Threats to central bank independence are no longer just an “emerging-market phenomenon,” according to South African Reserve Bank Governor Lesetja Kganyago. Kganyago mentioned recent attacks on the US Federal Reserve (Fed), Bank of England and European Central Bank (ECB) as examples at a lunch with editors in Johannesburg on Thursday. “There’s a concern 29

22 November 2018 2:54 PM Portuguese govt approves sale of Mercantile Bank to Capitec

The Portuguese Council of Ministers on Thursday announced its approval of the sale by Caixa Geral de Depósitos (CGD) of its entire stake in Mercantile Bank to Capitec Bank. CGD, which owns 100% of Mercantile, is selling the bank as part of a strategic recapitalisation plan approved by the European Commission and requiring CGD to reduce its foreign assets 29

22 November 2018 1:37 PM SA Reserve Bank raises repo rate to 6.75%

Governor of the SA Reserve bank Lesetja Kganyago has announced that the bank will raise the repo rate to 6.75% from 6.5%. The repo rate is the benchmark interest rate at which the central bank lends money to other banks. Changes in the repo rate affect the prime lending rate, which is the rate banks use as a starting point to calculate interest rates 56

22 November 2018 10:19 AM Cell C turns to Blue Label, banks to refinance onerous debt

Cell C said it’s refinanced R1.4bn of debt on better terms with loans from its biggest shareholder and a consortium of banks as the South African wireless carrier considers a listing in 2020. South Africa’s third-largest operator is also in talks with vendors including Huawei for an additional facility of R1.4bn to fund capital expenditure, a company 40

21 November 2018 6:59 PM Fintech policy must be inclusive, MPs hear

Fintech policy that is adopted should be geared towards financial inclusion, members of Parliament have heard. On Wednesday, representatives from Treasury and the Prudential Authority briefed the Standing Committee on Finance on fintech and its role in supporting financial inclusion. Fintech, or financial technology, is new technology used to improve 52

21 November 2018 8:14 AM Inflation rises slightly to 5.1% in October

StatsSA announced on Wednesday that annual consumer price inflation had come in at 5.1% for October, 0.2 percentage points higher than the 4.9% for September. On average, prices increased by 0.5% between September 2018 and October 2018. Ahead of the announcement, NKC African Economics had forecast that annual CPI would be 5.2% in October, noting the main driver 26

20 November 2018 1:20 PM LIVE: 'I refused to schedule a meeting with the Gupta family'

The former minister of finance was scathingly dismissive of the Guptas: he threw a fruit basket, that served as in invitation to the infamous Sun City wedding in the rubbish bin and a meeting with Ajay Gupta brokered by Zuma ended “after roughly two minutes” when it became clear he wasn’t interested. ** “I refused to take part in (then) Minister Zwane’s 28

14 November 2018 8:54 AM All we need is R3bn from government to avoid collapse, SABC tells Scopa

South African Broadcasting Corporation (SABC) board chair Bongumusa Makhathini told Parliament's Standing Committee on Public Accounts that all the state broadcaster needed was a R3bn government guarantee to avoid looming collapse in March. The board briefed Scopa on Wednesday morning, following a meeting on Tuesday where board member and veteran journalist 59

09 November 2018 7:09 PM Ghana raising $500m in loans to fund education pledge

Ghana is raising $500m in loans to help finance President Nana Akufo-Addo’s pledge to provide free secondary education at public schools. The Ghana Education Trust Fund, also known as the GETFund and governed by the Ministry of Education, will use the financing to build new schools and upgrade facilities after admissions soared since the implementation 85

09 November 2018 4:15 AM MTN is said to be nearing Nigeria deal over $8.1 billion claim

The MTN Group [JSE:MTN] is close to securing a deal with Nigeria’s central bank over an order to repay $8.1bn it is alleged to have illegally taken out of the country, according to a person familiar with the matter. A settlement is expected by Monday and could come as early as Friday, said the person, who asked not to be identified because they’re not authorised 27