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<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4931" height="3078" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZDTAXS54SNPKXI5JFDUILKDUHI.avif" alt="" class="wp-image-602896"/><figcaption class="wp-element-caption">Internally displaced people from Khartoum gather at their shelter in an IDP camp in Um Durain county, Nuba Mountains, South Kordofan, Sudan June 21, 2024. REUTERS/Thomas Mukoya/SUDAN/File Photo</figcaption></figure>



KHARTOUM, March 28 (Reuters) &#8211; Residents of Sudan&#8217;s Tuti island at the confluence of the Blue Nile and White Nile have emerged from paramilitary control to speak of hardships suffered and relief that their oppressors have been driven away.



They say Sudan&#8217;s Rapid Support Forces, who have been forced by the army off the island between the capital Khartoum and its twin city Omdurman, would block people from medical treatment, jail others and extort inhabitants.



&#8220;I suffered from severe urinary retention,&#8221; recalled elderly islander Omar al-Hassan, saying an RSF member stopped him from crossing a bridge to see doctors.



&#8220;He claimed our papers were incomplete, but we had all the necessary documents. He just wanted money.&#8221;



The RSF, whose war with the army erupted in April 2023 and which still controls swathes of west Sudan, did not respond to a request for comment by Reuters. The RSF has either denied it violates human rights or said it would hold perpetrators to account, while accusing the army of widespread abuses.



The U.N. accuses both sides in the civil war of abuses that may amount to war crimes.



Tuti island, with its green landscape overlooking the majestic Nile waters, was once one of Sudan&#8217;s most soothing spots, offering relaxation in a nation with a long history of war.



Its population of about 10,000 could relax on beaches near lemon trees swaying in the breeze. People would also pass time at coffee shops, puffing on water pipes, perhaps discussing Sudan&#8217;s complex, combustible politics.



That was before the conflict between the army and RSF &#8211; once partners in a coup that toppled veteran autocrat Omar Hassan al-Bashir &#8211; erupted and ravaged Sudan.



<h2 class="wp-block-heading" id="h-tuti-is-free">&#8216;TUTI IS FREE&#8217;</h2>



Now, in a microcosm of the war&#8217;s devastation, Tuti&#8217;s close-knit farming community are at risk of famine and have been ravaged by dengue fever.



Sudan&#8217;s military, headed by career army officer Abdel Fattah al-Burhan claimed control of Khartoum, including Tuti island, this week.



“We conducted a thorough and comprehensive cleanup of all areas of the island &#8230; We tell the people to return and come back,&#8221; said soldier Al-Tahir al-Tayeb.



&#8220;We will only take our rights by this,&#8221; he added, tapping on his gun. &#8220;We say to them, Tuti is free, and God is great.&#8221;



Nearby, a woman walked by a shop surveying destruction as people lingered at a mosque.



RSF leader Mohamed Hamdan Dagalo, known as Hemedti, rose from lowly beginnings to head a widely feared Arab militia that crushed a revolt in Darfur, winning him influence and eventually a role as the country&#8217;s second most powerful man, and one of its richest, as an enforcer for Bashir.



The RSF, menacing young men armed with rocket-propelled grenades and machine-guns mounted on trucks, mastered desert warfare in the Darfur region but lack the discipline of the regular army.



That was clear on Tuti island, said resident Abdul Fattah Abdullah, describing how RSF men followed him on four motorcycles and grabbed him as he was carrying vegetables from a market.



The next 20 days, locked up in a small room with 32 army officers, were the hardest in his whole life, he complained. It did not end there. RSF fighters demanded the equivalent of $400, he said.



&#8220;They harassed people, demanding either their gold or their money. May God punish them,&#8221; said Abdullah.



(Writing by Michael Georgy; Editing by Andrew Cawthorne)

ZDTAXS54SNPKXI5JFDUILKDUHI

Sudanese on Nile island in capital recount paramilitary repression

What’s Scaring Americans Into Shopping More

March 28 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



The Reserve Bank of Zimbabwe to announce its first interest rates decision for 2025.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian stocks fell on Friday with heavy selling in South Korea and Japan while safe-haven gold hit a record high as the latest tariff salvo from U.S. President Donald Trump stoked investor worries of an all-out trade war.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices held near one-month highs on Friday and were poised for a third weekly gain on a tightening global supply outlook after the U.S. imposed tariffs against countries buying oil and gas from Venezuela and placed restrictions on Iranian oil trade.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand weakened on Thursday as markets fretted over U.S. President Donald Trump&#8217;s tariffs due next week.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was stable against the dollar on Thursday, data from the London Stock Exchange Group (LSEG) showed.



<h2 class="wp-block-heading" id="h-africa-markets">AFRICA MARKETS</h2>



The Kenyan, Ugandan, Nigerian and Ghanaian currencies are expected to be broadly stable against the dollar in the next week to Thursday, while Zambia&#8217;s is seen under pressure, traders said.



<h2 class="wp-block-heading" id="h-kenya-imf">KENYA IMF</h2>



The International Monetary Fund said on Thursday that Kenya&#8217;s cash shortage requires a new spending strategy as it confirmed the government requested a new program.



<h2 class="wp-block-heading" id="h-south-sudan-britain">SOUTH SUDAN BRITAIN</h2>



Britain on Thursday advised its citizens in South Sudan to leave the country following rising tensions that have brought the East African nation to the brink of renewed civil war.



<h2 class="wp-block-heading" id="h-chad-migration">CHAD MIGRATION</h2>



The U.S. embassy in Chad has suspended the issuance of most nonimmigrant visas for 90 days, the State Department said on Thursday, in the first known international travel restrictions of President Donald Trump&#8217;s second term.



<h2 class="wp-block-heading" id="h-congo-hunger">CONGO HUNGER</h2>



Twenty-eight million people face acute hunger in the Democratic Republic of Congo, a record for the country, driven by an escalating conflict between the government and Rwandan-backed rebels in the east, the United Nations said on Thursday.



<h2 class="wp-block-heading" id="h-south-sudan-security">SOUTH SUDAN SECURITY</h2>



The detention of South Sudan&#8217;s First Vice President Riek Machar has effectively collapsed the peace deal that ended the 2013-2018 civil war, his party said on Thursday.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on March 28

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4630" height="2929" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GP73G3YF7FNEDCJIJEBMT334WM.avif" alt="" class="wp-image-602772"/><figcaption class="wp-element-caption">Kenya&#8217;s Opposition leader Raila Odinga addresses delegates after signing a memorandum of understanding between the United Democratic Alliance (UDA) and the Orange Democratic Movement (ODM) with President William Ruto, to pursue proposed reforms under the National Dialogue Committee (NADCO) talks, at the Kenyatta International Convention Centre (KICC) in Nairobi, Kenya March 7, 2025. REUTERS/Thomas Mukoya/File photo</figcaption></figure>



NAIROBI, March 28 (Reuters) &#8211; Kenya is sending former Prime Minister Raila Odinga to South Sudan as a special envoy to help defuse a growing rift between President Salva Kiir and his longtime rival First Vice President Riek Machar, which threatens to drag the country back to war.



Machar was put under house arrest in the capital Juba on Wednesday night, according to his party, effectively voiding a 2018 peace deal that ended a five-year civil war and brought the two men into a fragile power-sharing government.



Their administration has been slow to adopt key provisions of the peace pact, such as national elections and the unification of their two forces into one army.



Machar&#8217;s detention took the country &#8220;one step closer to the edge of collapse into civil war&#8221;, a spokesperson for United Nations Secretary-General Antonio Guterres said on Thursday.



Machar&#8217;s party denies government accusations that it backs the White Army, an ethnic militia largely comprising Nuer youths, which clashed with the army in the northeastern town of Nasir this month, triggering the latest crisis.



In response to the fighting, Kiir&#8217;s forces rounded up several of Machar&#8217;s most senior allies, including the petroleum minister and the deputy head of the army.



Forces loyal to the two men have clashed in recent days outside Juba and elsewhere.



Kenyan President William Ruto, who chairs the East African Community (EAC) bloc, said he had spoken with Kiir about Machar&#8217;s detention, and was sending a special envoy to help de-escalate the situation and report back.



Odinga&#8217;s spokesperson, Dennis Onyango, confirmed that the former prime minister would travel to Juba on Friday.



Machar&#8217;s spokesperson, Puok Both Baluang, said Odinga&#8217;s appointment was a welcome gesture &#8220;as long as it is in line with de-escalation of the situation&#8221;.



&#8220;(Machar) is fine, but nothing changes. He&#8217;s still under house arrest,&#8221; Baluang told Reuters by telephone.



Ruto said he had also consulted Ugandan President Yoweri Museveni, who sent troops this month to South Sudan at the government&#8217;s request to help secure the capital, and Prime Minister Abiy Ahmed of Ethiopia, which has hosted South Sudan peace talks in the past.



The African Union said it was sending a &#8220;Panel of the Wise&#8221;, a group of five &#8220;highly respected African personalities&#8221;, to help calm the situation.



Rival factions loyal to Kiir and Machar fought a civil war from 2013 to 2018 that killed hundreds of thousands.



(Reporting by Hereward Holland; Editing by Ammu Kannampilly, Clarence Fernandez and Alex Richardson)

GP73G3YF7FNEDCJIJEBMT334WM

Kenya sends former PM Odinga to defuse South Sudan crisis

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="544" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-820x544.jpg" alt="" class="wp-image-479306" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-820x544.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-300x199.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-768x509.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-1536x1018.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Customers queue to draw money from an ATM outside a branch of South Africa&#8217;s Capitec Bank in Johannesburg,South Africa, March 2, 2017. REUTERS/Siphiwe Sibeko/Files</figcaption></figure>



JOHANNESBURG, March 28 (Reuters) &#8211; South Africa&#8217;s Capitec Bank said on Friday that Group CEO and founding member Gerrie Fourie will retire in July after 11-1/2 years at the helm, and named Graham Lee, the group executive of its retail bank division, as his successor.



Fourie has been on the executive management team for the past 25 years. He become the CEO in January 2014 and will retire at the annual general meeting to be held on July 18.



&#8220;Under his stewardship as CEO, the company transformed from a challenger bank serving 5 million clients in 2014 to South Africa&#8217;s leading digital bank and a diversified financial services company serving over 24 million personal and business clients&#8221;, the lender said in a statement.



Santie Botha, Chairman of Capitec&#8217;s Board added that Fourie has not only facilitated significant growth and innovation &#8220;but has also built a strong and diverse leadership team, poised to carry the group into the future.&#8221;



As the lender diversified over the last four years, Fourie expanded the executive structure to include divisional executive teams responsible for the personal bank, business bank, insurance company, and strategic initiatives.



Lee, 50, has been a member of the group executive committee since 2022. He joined Capitec in 2003 and has held numerous strategic positions in credit, technology and data, and personal bank operations.



Basani Maluleke will succeed Graham Lee as group executive for the personal bank division, Capitec said.



(Reporting by Nqobile Dludla in Johannesburg, additional reporting by Yamini Kalia in Bengaluru; Editing by Sherry Jacob-Phillips and David Evans)

Customers queue to draw money from an ATM outside a branch of South Africa’s Capitec Bank in Johannesburg,South Africa

South Africa’s Capitec Bank CEO Gerrie Fourie to retire in July

Why It’s So Hard To fix The U.S. Air Traffic Control Problems

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1.jpg" alt="" class="wp-image-428138" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South Africa&#8217;s central bank governor, Lesetja Kganyago, arrives to deliver a keynote address on monetary policy, growth and jobs at the University of the Witwatersrand in Johannesburg, South Africa, November 1, 2022. REUTERS/Siphiwe Sibeko</figcaption></figure>



South Africa’s central bank governor Lesetja Kganyago says the country’s inflation targeting regime is out of date and might be inhibiting faster growth and making the economy less competitive.



While the country’s 25-year-old inflation targeting framework had helped lower interest rates from above 20 percent in 2000 to 7.5% now and helped reduce macroeconomic volatility, Kganyago said a fresh look was needed in line with other developing economies.



`’In this respect, the South African target is now rather dated, reducing our competitiveness and opportunity to generate faster and more sustainable growth,’’ Kganyago told the bank’s biennial conference in Cape Town.



South Africa’s newly established democratic government was one of the earliest adopters of the inflation targeting regime in 2000 when it was set at between 3 and 6 percent. Under Kganyago’s tenure, the SARB has focused its monetary policy on keeping inflation at the mid-point of 4.5 percent, and argued it should be lowered to around 3 percent.



Growth in Africa’s biggest economy has been stuck around 1 percent for the past decade as the country struggled with power shortages and corruption during the rule of former President Jacob Zuma who was accused of allowing a wealthy Indian family to control state institutions in what was generally referred to as ‘state capture’. &nbsp;



President Cyril Ramaphosa’s administration has since set a target of lifting economic growth to around 3 percent in the medium term after launching reforms under its Operation Vulindlela programme which helped end debilitating power shortages last year. Momentum was further maintained by the formation of the Government of National Unity after last year’s elections.



Kganyago said a session at the conference will tackle the question of what would be an optimal inflation target for South Africa in the context of what he called the country’s structural rigidities.



‘’Open discussions like these are important for how we think about the trajectory for global macroeconomic policy over the medium term, and what that means for the path of inflation targeting within the South African context,’’ he said.



Under South Africa’s constitution the inflation target is set by the Minister of Finance Enoch Godongwana who last October said he was not yet convinced of the merits of adjusting it though teams from the central bank and the National Treasury have started discussions on the subject.

South Africa’s central bank governor to delivers keynote address

South Africa central bank says inflation targeting framework may be stifling growth

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="528" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-820x528.jpg" alt="" class="wp-image-602417" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-820x528.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-768x495.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-1536x990.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



Johannesburg, South Africa – The Executive Apartment Hotel Group proudly announces the grand opening of its latest prestigious development – One Rosebank Executive Apartment Hotel developed by the leading Developer Tricolt Developments – set to welcome guests in May 2025. Perfectly positioned in the heart of Rosebank, Johannesburg, One Rosebank is a striking new landmark that redefines the standard of luxury, design, and personalised hospitality in South Africa.



<h2 class="wp-block-heading" id="h-where-luxury-meets-art-and-design">Where Luxury Meets Art and Design</h2>



One Rosebank Executive Apartment Hotel offers exceptional design and bespoke service, blending sophistication with functionality in a world-class environment. This ultra-exclusive apartment hotel promises guests an unmatched experience through curated amenities and signature spaces, including the breathtaking Skybar, the refined Epicure at One Restaurant by Multi award-winning Chef Coco Reinarhz, a fully equipped Business Centre, and the cutting-edge Trifit Gym. Residents and guests can also enjoy the Clubhouse and a serene Leisure Pool, adding to the property’s exclusive lifestyle offering, which will be completed in Phase 2.



With Rosebank Mall and The Zone just moments away, and the Gautrain station a short walk from the property, One Rosebank places guests at the centre of Johannesburg’s premier cultural, business, and entertainment district.



<h2 class="wp-block-heading" id="h-a-visionary-leader-at-the-helm">A Visionary Leader at the Helm</h2>



At the forefront of this iconic One Rosebank Executive Apartment Hotel opening is Pamela Niemand, Managing Director of the Executive Apartment Hotel Group and a visionary in the apartment hotel and property industry. Widely recognised as South Africa’s leading Apartment Hotel expert, Pamela pioneered the country’s first apartment hotel and has been instrumental in shaping the industry for over 24 years.



Pamela’s influence and leadership have been pivotal in establishing some of the most successful apartment hotel developments. Her unwavering commitment to excellence, innovation, and sustainable growth continues to elevate the Executive Apartment Hotel Group as a premier brand in the hospitality sector.



“One Rosebank is more than just a hotel – it’s a new benchmark for hospitality in Johannesburg, combining refined living, artistic design, and next-level service. It embodies our vision of real hospitality reimagined,” says Pamela Niemand.



As anticipation builds toward the grand opening in May, the Executive Apartment Hotel Group looks forward to welcoming discerning guests, corporate and leisure travellers, to this exciting new address.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="447" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-820x447.jpg" alt="" class="wp-image-602397" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-820x447.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-300x164.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-160x87.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-768x419.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE.jpg 1280w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>

4U3A9916 1

Introducing One Rosebank Executive Apartment Hotel – Where Luxury Meets Art and Design by Executive Apartment Hotel Group

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-820x461.jpeg" alt="" class="wp-image-602394" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">US President Donald Trump meets with US Ambassadors in the Cabinet Room of the White House in Washington, DC, on March 25, 2025. Mandel Ngan | AFP | Getty Images</figcaption></figure>



President Donald Trump said that tariffs will likely be more “lenient than reciprocal,” as the April 2 tariff deadline looms for a number of levies to go into effect.



“I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people,” Trump said Tuesday in an interview with Newsmax.



“I know there are some exceptions, and it’s an ongoing discussion, but not too many, not too many exceptions,” the president added.



The White House later clarified the president’s remarks, saying the Trump administration will no longer take into account non-tariff barriers countries raise against the United States to determine the reciprocal tariff rate, as told to CNBC’s Eamon Javers.



Non-tariff barriers include factors such as a value-added tax (VAT) — which is a tax on the final consumption of a good or service based on the value added at each production stage — as well as wage suppression and currency manipulation.



The softening stance on tariffs from the Trump administration could soothe investors worried a global trade war will slow down the U.S. economy.



Already, consumer and corporate sentiment have taken a hit. On Tuesday, the Conference Board said its measure for consumer expectations on business, income and labor dropped to a 12-year low.



Stocks have struggled recently, with the S&amp;P 500 dropping 3% in the past month. The benchmark also dipped into correction territory amid the tariff pressures, briefly trading more than 10% below a record set in February.

108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV

Trump says tariffs coming in April will ‘probably be more lenient than reciprocal’

How one of Japan’s largest insurers is pivoting to serve an aging population

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="541" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg" alt="" class="wp-image-425628" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-768x507.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-1536x1013.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo of South Africa&#8217;s central reserve bank is seen during the delivery of a keynote address by South Africa&#8217;s central bank governor, Lesetja Kganyago, at the University of the Witwatersrand in Johannesburg, South Africa, November 1, 2022. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, March 27 (Reuters)&nbsp;&#8211;&nbsp;South Africa recorded foreign direct investment inflows of 7.5 billion rand ($411.76 million) in the fourth quarter, compared to outflows of 3.2 billion in the third quarter, central bank data showed on Thursday.



The South African Reserve Bank said in its Quarterly Bulletin that the inflows were due to increased equity investment in domestic subsidiaries by non-resident parent companies.



Portfolio investments recorded smaller inflows of 33.4 billion rand in October-December, compared to inflows of 45.6 billion rand in the third quarter.



&#8220;Non-residents&#8217; net acquisition of debt securities, which included the proceeds from national government&#8217;s issuance of two international bonds amounting to $3.5 billion, outweighed their disposal of equity securities,&#8221; the central bank said.



($1 = 18.2144 rand)



(Reporting by Bhargav Acharya; Editing by Alexander Winning)

FILE PHOTO: South Africa’s central bank governor to delivers keynote address

South Africa shifts to FDI inflows in fourth quarter, central bank says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



March 27 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Sierra Leone is expected to announce its rate decision.



Zimbabwe&#8217;s statistics agency releases March inflation data.



Namibia&#8217;s finance minister presents the budget for the fiscal year starting on April 1 2025.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Global stocks fell on Thursday, led by heavy losses in Japan and South Korea, after U.S. President Donald Trump announced new tariffs on auto imports, with European stock futures also pointing to a lower open.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices edged up on Thursday on concerns about tighter global supply after U.S. tariff threats on Venezuelan oil buyers and earlier sanctions on Iranian oil buyers, while traders weighed the impact of U.S. President Donald Trump&#8217;s auto tariffs.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand opened stronger on Thursday, ahead of the release of a quarterly bulletin by the central bank and monthly producer inflation figures.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was stable on Wednesday, supported by foreign-currency inflows from the diaspora and tea exports, traders said.



<h2 class="wp-block-heading" id="h-south-sudan-security">SOUTH SUDAN SECURITY</h2>



The United States on Thursday called on South Sudan President Salva Kiir to release his rival First Vice President Riek Machar who was reportedly under house arrest, saying it was time the country&#8217;s leaders demonstrated their commitment to peace.



<h2 class="wp-block-heading" id="h-nigeria-security">NIGERIA SECURITY</h2>



Suspected Islamist fighters launched a coordinated attack on an army base and a military outpost in Nigeria&#8217;s northeastern Borno State, killing at least 16 people, security sources told Reuters.



<h2 class="wp-block-heading" id="h-senegal-economy">SENEGAL ECONOMY</h2>



The International Monetary Fund on Wednesday called for Senegal to streamline tax exemptions and phase out costly energy subsidies as part of &#8220;urgent reforms&#8221; after an audit revealed misreporting of economic data.



((Compiled by Nairobi Newsroom))

African Markets – Factors to watch on March 27

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3243" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/PMUHNUWJO5JCDIURCOV3C2CCAY.avif" alt="" class="wp-image-602355"/><figcaption class="wp-element-caption">A used Mini Cooper electric car is seen for sale outside the showroom of a used car dealer in Manchester, Britain, October 19, 2023. REUTERS/Phil Noble/File photo</figcaption></figure>



LONDON, March 27 (Reuters)&nbsp;&#8211;&nbsp;The Supreme Court of the United Kingdom will on Tuesday hear arguments to overturn a judgment that could cost Britain&#8217;s financial industry billions of pounds in fresh legal costs and potential customer compensation.



The Court of Appeal ruled in October that it was unlawful for lenders to pay commissions to motor dealers without a customer&#8217;s informed consent, triggering speculation about the nature and scale of possible remedies for affected borrowers.



Lloyds Banking Group, Close Brothers and Santander UK SANS have together already set aside more than 1.5 billion pounds ($1.9 billion) to cover potential compensation claims.



Some analysts say the fallout could be the costliest for banks since they paid almost 40 billion pounds in compensation to customers for mis-selling payment protection insurance.



<h2 class="wp-block-heading" id="h-what-will-the-supreme-court-consider">WHAT WILL THE SUPREME COURT CONSIDER?</h2>



Reviewing three earlier claims &#8211; two against South African lender FirstRand and one against Britain&#8217;s Close Brothers &#8211; the Supreme Court will decide the extent of car dealers&#8217; legal responsibility to provide appropriate information to consumers when also acting as credit brokers.



Assuming a duty of care is owed, the court is also expected to rule whether commissions paid by lenders to car dealers were &#8220;secret&#8221; or insufficiently disclosed, and whether lenders are liable as accessories for procuring the credit brokers&#8217; breach of duty.



If lenders are considered liable, and the relationship between lender and consumer is considered &#8220;unfair&#8221; under the Consumer Credit Act 1974, the court will decide what kind of remedy errant lenders have to make.



The Supreme Court&#8217;s judgment is expected in the summer.



<h2 class="wp-block-heading" id="h-who-might-be-impacted">WHO MIGHT BE IMPACTED?</h2>



The Financial Conduct Authority banned the payment of discretionary motor finance commissions in 2021, eliminating incentives for brokers to hike the interest rate customers pay on their motor finance loans.



But some customers say they were treated unfairly before the ban came into effect, prompting the FCA to launch a probe in January 2024 into historic potential misconduct.



If the Supreme Court rules lenders and brokers should have been more transparent about commissions, the regulator has said it will consult on the structure of a compensation scheme within six weeks.



More than 2 million people a year rely on the motor finance market to buy a car, FCA data shows.



<h2 class="wp-block-heading" id="h-how-much-could-banks-have-to-pay">HOW MUCH COULD BANKS HAVE TO PAY?</h2>



Only a handful of UK lenders have motor finance businesses large enough to be materially concerned about the ruling.



These include Lloyds, Close Brothers and Santander UK, which have already made provisions of 1.15 billion pounds, 295 million pounds and 165 million pounds respectively.



But analysts say other types of commissions paid by banks to credit brokers could face scrutiny if the court decides customers must consent to such payments.



Total &#8216;worst case&#8217; industry costs could reach 30 billion pounds, ratings agency Moody&#8217;s said in November.



RBC Capital has estimated a &#8216;base case&#8217; impact on banks and non-banks of almost 18 billion pounds.



<h2 class="wp-block-heading" id="h-what-might-influence-the-supreme-court-decision">WHAT MIGHT INFLUENCE THE SUPREME COURT DECISION?</h2>



The outcome of another legal dispute, Expert Tooling vs. Engie Power on March 21, could have a bearing on the motor finance ruling.



That case involved Engie supplying electricity to Expert Tooling via an energy broker. The Court of Appeal found that the commission paid to the broker should have been disclosed. However, it did not find Engie an accessory to the broker&#8217;s breach of duty due to the lack of evidence of dishonesty.



Some lawyers say lenders will likely escape significant financial liabilities unless claimants can prove commission payments were concealed or hidden dishonestly.



Others are not so sure, citing key differences between the cases, including that the claimant in Expert Tooling vs Engie was a business, not a consumer.



<h2 class="wp-block-heading" id="h-what-next-for-the-banking-industry">WHAT NEXT FOR THE BANKING INDUSTRY?</h2>



Several major British banks have signalled an interest in recent months in mergers and acquisitions, but worries about a damaging consumer finance scandal have cast a pall over dealmaking.



Clarity over the ruling and any compensation scheme could unlock cash set aside to cover legal expenses and revive M&amp;A activity, analysts and bankers say.



($1 = 0.7738 pounds)



(Reporting by Sinead Cruise. Editing by Mark Potter)

PMUHNUWJO5JCDIURCOV3C2CCAY

Is Britain on the cusp of another multibillion-pound consumer finance scandal?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="504" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-1.avif" alt="" class="wp-image-601101"/><figcaption class="wp-element-caption">Delegates walk past the Transnet logo at the Investing in African Mining Indaba 2024 conference in Cape Town, South Africa February 7, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



March 27 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s United National Transport Union (UNTU) said on Thursday it rejected a final wage offer tabled by state-owned logistics group Transnet, which was signed by a smaller union.



Transnet on Thursday announced a three-year pay agreement with the South African Transport and Allied Workers&#8217; Union (SATAWU) to replace the current wage deal which expires on March 31. SATAWU confirmed the agreement in a separate statement.



Under the deal agreed with SATAWU, Transnet will implement 6% wage increases in the first two years of the new agreement and a 5.5% raise in the third year.



UNTU, which represents more than half the workforce at Transnet, declared a deadlock in the wage talks, saying it wants a 10% increase across the board and a single-year agreement, among other demands.



&#8220;UNTU is fully prepared to take to the streets and mobilise our 25,000-plus members to secure a liveable, just and fair agreement,&#8221; it said in a statement.



Transnet said it remained &#8220;positive that this offer will be accepted by all employees&#8221;.



&#8220;Transnet considers the offer to be reasonable and fair given the current financial and operational challenges,&#8221; the firm said.



(Reporting by Nelson Banya; Editing by Mrigank Dhaniwala)

BMQRSYHVQ5KPZEVUFBZAFEVTYQ (1)

Transnet’s major union rejects wage deal agreed by rival

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How Tariffs Are Going To Jack Up Car Prices In The U.S.

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What’s Scaring Americans Into Shopping More

African Markets – Factors to watch on March 28

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Is Britain on the cusp of another multibillion-pound consumer finance scandal?

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