The plunging rand drove currency futures trading on South Africa’s exchange to a record this month amid bets for further depreciation. Trading rose to 40 billion rand ($3.9 billion) this month, the most ever, Warren Geers, the JSE Ltd. (JSE)’s general manager for bonds and financial derivatives, said in an e-mailed […]
Tag: South Africa
South Africa Inflation Unchanged at 5.9% as Rand Weakens
South Africa’s inflation rate rose more than estimated in April as a decline in the value of the rand added to the cost of imports, reducing the chances of a cut in interest rates. Inflation was unchanged 5.9 percent from the previous month, Statistics South Africa said on its […]
S’African firm to acquire 49% stake in MDS
UAC of Nigerian Plc has announced a strategic partnership with Imperial Logistics, an arm of South African-based Imperial Holdings Limited. The agreement, signed by both companies, shows that Imperial Logistics is to acquire 49 per cent equity in MDS Logistics Plc, a wholly-owned subsidiary of UAC. A statement by UAC […]
