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Rand knocked as new poll gives Corbyn lead over May on day UK votes
June 8, 2017--The rand has weakened sharply suddenly after a new poll put Labour party leader Jeremy Corbyn ahead of Prime Minister and Tories leader Theresa May for the first time as the English go the polls.
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Source: FIN24
Central Africa: Tracking Gold From Mine-to-Market
June 8, 2017--The Great Lakes region has successfully implemented the first conflict-free artisanal supply chain for tracing gold from mining sites to buyers in the international market.
Partnership Africa Canada (PAC) has developed the Just Gold project to ensure traceability of the precious mineral and formalise the artisanal mining sector at Ituri in eastern Democratic Republic of Congo.
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Source: AllAfrica.com
Little movement on JSE in wake of recession bombshell
June 7, 2017--Contrary to expectations, the news that South Africa is officially in a recession has not led to a bloodbath on the JSE and the rand also did not go through the roof.
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Source: FIN24
East Africa: Tanzania Among Top Growing Economies in 2018
June 7, 2017--World Bank has forecasted Tanzania as the third fastest growing economy in Africa next year after Ethiopia and Ghana.
In a brief report, Global Economic Prospects: Sub-Saharan Africa, the WB predicted Tanzania to grow 7.2 per cent behind Ghana 7.8 per cent and Ethiopia 8.3 per cent.
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Source: AllAfrica.com
Rand, JSE take a knock as SA plunges into recession
June 6, 2017--The rand weakened and spiked up to R12.85 to the dollar, with JSE stocks trading in the red for the greater part of the day on news of South Africa slipping into a technical recession.
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Source: FIN24
World Bank Report Shows How to Boost Private Sector Investment in Africa's Transmission Sector
June 6, 2017-A new World Bank report released today called for increased private sector investment in Africa's under-developed electricity transmission infrastructure, a vital ingredient for reaching Africa's energy goals.
Africa lags the rest of the world when it comes to electricity, with just 35 percent of the population with access to power and a generation capacity of only 100 GW. Those who do have power typically consume relatively little, face frequent outages and pay high prices.
view the Linking Up: Public-Private Partnerships in Power Transmission in Africa report
Source: World Bank
South Africa: Country's in a Recession.-Here's What That Means
June 6, 2017--South Africa has been rocked by news that it has slipped into a recession after its gross domestic product (GDP) declined 0.7% during the first quarter of 2017 after contracting by 0.3% in the fourth quarter of 2016.
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Source: FIN24
Firmer rand pushes retailers and financials higher
June 5, 2017--Financials and retailers were buoyed by the firmer rand in and ended in positive territory for a second straight session.
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Source: FIN24
Rand gains as ANC contradicts Zuma on #GuptaEmails, calls for probe
June 2, 2017--The rand has gained sharply as the ANC contradicted President Jacob Zuma regarding the leak of the #GuptaEmails, which implicated him and other officials in state capture.
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Source: FIN24
S&P keeps rating at BB+
June 2, 2017--Standard & Poor's has kept South Africa's long term foreign currency rating at BB+ with a negative outlook.
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Source: FIN24
