South Africa

South Africa

City Lodge Hotels Limited sees rebound in tourism as demand patterns normalise

The average room rate has also rebounded, with high single digit percentage increases against the equivalent 2019 rates. The May year to date average room rate for 2023 is 12% higher than the prior co

Jun 20, 2023
Zimbabwe
Bank of Namibia raises interest rates to safeguard currency peg, despite impact on consumers

Windhoek - The Bank of Namibia's decision to increase the repo rate by 50 basis points, from 7.25% to 7.75%, with immediate effect, has left many Namibian consumers struggling to survive. The repo rat

 Jun 19, 2023
Zimbabwe
PPC Releases Trading Update, Projects Drop in Earnings

Trading conditions remained difficult in South Africa, PPC’s largest market, with cement volumes down 5.8% although selling prices rose 8%. The smaller materials business suffered an EBITDA loss of R6

 Jun 16, 2023
Zimbabwe
Nedbank in Solid Start to 2023

Nedbank warned that risks to its full-year outlook are rising from South Africa’s weakening economy, where growth has been hit by power cuts, weak global demand, and rising rates.

 Jun 02, 2023
Zimbabwe
How South Africa's Ties with Russia Could Affect Zimbabwe's Economy and Trade

In the short term, Zimbabwean businesses may need to prepare for higher prices for imports from South Africa, and the government may need to monitor the situation closely to ensure that any potential

 May 30, 2023
Zimbabwe
South Africa's Maize Boost Benefits Zimbabwe's Food Security

However, the two countries' experiences with maize production highlight the need for a more coordinated approach to agricultural development in the region. South Africa's success in increasing maize p

 May 26, 2023
South Africa
Unlocking Alternative Energy Sources: Shale Gas Exploration in South Africa

It is also important for Zimbabwe to explore other renewable energy sources such as solar and wind power, which are becoming increasingly cost-effective and accessible. In particular, decentralized re

 May 19, 2023
MTN's Plan to Revolutionize Internet Connectivity in Africa

However, there are challenges that must be overcome to ensure the success of these initiatives. One of the biggest challenges is the lack of regulatory frameworks and policies that support the growth

May 16, 2023
Standard Chartered's Warning: South Africa's Fossil Fuel Shift and Zimbabwe's Energy Future

The shift away from fossil fuels is a global trend that is being driven by a range of environmental and economic factors. For countries like South Africa and Zimbabwe, which are heavily reliant on fos

May 15, 2023
Takealot’s Mr D drives Pick n Pay sales

South Africa’s 2nd largest retailer Pick n Pay said its online sales volumes significantly soared after hopping onto the Mr D’s delivery app. The company achieved total online sales growth for the yea

May 11, 2023
Harmony Gold reports strong operational performance for 9M FY23.

Electricity challenges in South Africa will likely have a significant adverse impact on Harmony's operations in the near term, particularly its cost of production. The country has been experiencing fr

May 10, 2023