Southern Africa payments hub eyes more currencies to boost trade
A multibillion-dollar cross-border payments platform serving southern Africa plans to expand beyond the South African rand and Angolan kwanza, widening the range of currencies it supports to lower transaction costs and boost trade.
Using cash costs South Africans R90 billion a year – SAR
The annual cost of cash in South Africa is substantial, sitting at around R90 billion, most of which is paid by consumers.
Oil prices ease, rand strengthens and JSE recovers despite global tech jitters
South African financial markets entered the new week on a stronger footing as easing geopolitical tensions, improving local business activity and a firmer rand boosted investor confidence, even as mining shares continued to weigh on broader market performance.
The rand can strengthen to below R16 to the US dollar in 2026
Investec chief economist Annabel Bishop sees the rand averaging R15.90 to the United States dollar in the fourth quarter of 2026, as the currency has held up well against shocks from the Middle East war.
South Africa plans exchange control revamp to attract billions in investment
The Finance ministry’s proposals include raising discretionary offshore allowances for individuals, regulating crypto assets and easing capital-flow restrictions.
SA rand, Nigerian naira ranked among global currencies soaring against US dollar
The South African rand and Nigerian naira have been ranked among the global currencies posting strong gains against the U.S. dollar over the past year, reflecting shifting market dynamics and improving domestic conditions.