<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="507" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/6KC77RFN7RNKTEDE5FOCEDTGIM-1-820x507.jpg" alt="" class="wp-image-498092" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/6KC77RFN7RNKTEDE5FOCEDTGIM-1-820x507.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/6KC77RFN7RNKTEDE5FOCEDTGIM-1-300x185.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/6KC77RFN7RNKTEDE5FOCEDTGIM-1-146x90.jpg 146w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/6KC77RFN7RNKTEDE5FOCEDTGIM-1-768x474.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/6KC77RFN7RNKTEDE5FOCEDTGIM-1-1536x949.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/6KC77RFN7RNKTEDE5FOCEDTGIM-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A customer compares prices while shopping at a Pick and Pay shop in East London, in the Eastern Cape province, South Africa, March 17, 2023. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, June 19 (Reuters)&nbsp;&#8211;&nbsp;South African inflation was stable in May, data showed on Wednesday, but analysts do not expect interest rate cuts any time soon as it remains above the central bank&#8217;s desired level.



Headline consumer inflation came in at 5.2% year on year in May, the same as in April, in line with the forecast of economists polled by Reuters.



The South African Reserve Bank (SARB) wants to see inflation fall to 4.5%, the midpoint of its target band, and has kept its main interest rate at its highest level since 2009 for more than a year to try to achieve that objective.



Inflation has been above 5% for months, and the central bank estimated last month that inflation would only stabilise at 4.5% in the second quarter of 2025.



According to a Reuters poll released on Tuesday, the SARB could wait until November before cutting its repo rate.



Capital Economics analyst David Omojomolo said the formation of a government of national unity following last month&#8217;s election could ease the central bank&#8217;s fiscal concerns, meaning a higher chance of a rate cut before the end of this year.



Annabel Bishop at Investec bank said after Wednesday&#8217;s data that the central bank&#8217;s tone would probably remain hawkish for now.



Five political parties have joined the African National Congress (ANC) in a unity government after the ANC lost its majority in the May 29 vote for the first time since the end of apartheid 30 years ago.



Markets have been reassured because the unity government includes the pro-business Democratic Alliance and excludes parties viewed as more radical, the hard-left Economic Freedom Fighters and uMkhonto we Sizwe led by former president Jacob Zuma.



Inflation was at 0.2% in May on a month-on-month basis, compared to 0.3% in April.



(Additional reporting by Tannur Anders; Editing by Alexander Winning and Elaine Hardcastle)

South Africans face more interest rate hike pain as inflation sticks

South African inflation stable but still above central bank objective

3 biggest challenges facing women in 2024

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/Illustration</figcaption></figure>



JOHANNESBURG, June 19 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand strengthened to a nearly 11-month high early on Wednesday, ahead of local inflation figures and President Cyril Ramaphosa&#8217;s inauguration for a second term.



At 0719 GMT, the rand traded at 17.9575 against the dollar, 0.57% stronger than its previous close. It earlier hit 17.9475 per dollar, a level last seen in late July 2023.



Investors will turn their focus towards Statistics South Africa at 0800 GMT for the release of monthly inflation figures. Economists polled by Reuters predict May year-on-year inflation to come in at 5.2%.



Attention will also be on the capital Pretoria, where Ramaphosa is set to take oath as South Africa&#8217;s president after last month&#8217;s election in which the African National Congress (ANC) lost its majority for the first time since the end of apartheid 30 years ago.



Five political parties have joined the ANC in a government of national unity including the pro-business Democratic Alliance, which is favoured by markets.



On the stock market, the Top-40 index was up 1.3% while the broader all-share index traded 1.2% higher in early trade.



South Africa&#8217;s benchmark 2030 government bond was stronger in early deals, with the yield down 15 basis points to 9.705%.



(Reporting by Bhargav Acharya; editing by Barbara Lewis)

Illustration photo of South African rand

South African rand firms to 11-month high, local inflation in focus

<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>



June 19 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.



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



A terrorism trial of Nigerian separatist leader Nnamdi Kanu begins in the capital Abuja.



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



Asian shares rose to their highest in three weeks on Wednesday, buoyed by a rally in tech stocks, while the dollar wobbled after soft U.S. retail sales data reinforced expectations of the Federal Reserve cutting rates later this year.



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



Oil prices held steady during trade on Wednesday, as the market weighed concerns over escalating conflict in Europe and the Middle East with demand worries following an unexpected build in U.S. crude inventories.



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



South African assets gained on Tuesday, building on momentum after unity government members were confirmed last week and ahead of talks by U.S. Federal Reserve officials later in the day.



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



The Kenyan shilling was flat against the dollar on Tuesday, LSEG data showed.



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



Sudan and the United Arab Emirates clashed at the U.N. Security Council on Tuesday over accusations by the army-aligned Sudanese government that the UAE is providing weapons and support to a rival warring party in the country&#8217;s 14-month long conflict.



<h2 class="wp-block-heading" id="h-ghana-economy">GHANA ECONOMY</h2>



Ghana&#8217;s economy grew 4.7% year-on-year in the first quarter of 2024, the country&#8217;s statistics agency said on Tuesday.



<h2 class="wp-block-heading" id="h-niger-security">NIGER SECURITY</h2>



An armed group opposed to Niger&#8217;s ruling junta disabled a section of the country&#8217;s PetroChina-funded 601857.SS crude oil pipeline in an attack on Sunday night, it said in a statement.



<h2 class="wp-block-heading" id="h-chad-blast">CHAD BLAST</h2>



A fire at a military ammunition depot in Chad&#8217;s capital N&#8217;Djamena triggered a series of blasts on Tuesday night, Foreign Affairs Minister Koulamallah Abderaman said, with witnesses saying at least one person was killed and several wounded.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on June 19

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1305" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/UOEGRXYAIVP2VKGDETTWJFDJDU-scaled.jpg" alt="" class="wp-image-497865" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/UOEGRXYAIVP2VKGDETTWJFDJDU-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/UOEGRXYAIVP2VKGDETTWJFDJDU-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/UOEGRXYAIVP2VKGDETTWJFDJDU-820x523.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/UOEGRXYAIVP2VKGDETTWJFDJDU-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/UOEGRXYAIVP2VKGDETTWJFDJDU-768x490.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/UOEGRXYAIVP2VKGDETTWJFDJDU-1536x979.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Protestors participate in a demonstration against Kenya&#8217;s proposed finance bill 2024/2025 in Nairobi, Kenya, June 18, 2024. REUTERS/Monicah Mwangi</figcaption></figure>



NAIROBI, June 18 (Reuters)&nbsp;&#8211;&nbsp;A Kenyan parliamentary panel recommended on Tuesday that the government scrap some new taxes proposed as part of next year&#8217;s budget, as hundreds of protesters angered by the measures took to the streets in the capital Nairobi.



The tax hikes, including new levies on cars and bread, are the latest effort by President William Ruto&#8217;s administration to boost revenue and reduce borrowing, but they have triggered widespread opposition.



Last year, the government introduced a housing tax and increased contributions to the national health scheme in moves that also sparked protests.



Kimani Kuria, chair of the Kenyan parliament&#8217;s finance committee, said the committee recommended amending the government&#8217;s funding bill for the 2024/25 fiscal year to remove a new tax on car ownership, higher taxes on financial and mobile phone charges and the imposition of value-added tax on bread.



As he spoke, Reuters witnesses saw police fire teargas to disperse hundreds of protesters demonstrating near the parliament building.



&#8220;We can&#8217;t even afford diapers for the kids anymore &#8230; we need this government to do something,&#8221; protester Muthoni Wanjiku told Reuters.



Human rights groups and the country&#8217;s media council, which accredits journalists, accused police officers of using excessive force to stop the protests, including briefly detaining journalists covering them.



Amnesty Kenya said 201 people were arrested during Tuesday&#8217;s demonstrations, including journalists, observers from human rights groups and protesters.



&#8220;We demand the immediate and unconditional release of all arrested protesters and observers. We call on the (police) to uphold its duty to protect and respect the rights of Kenyan citizens to assemble peacefully,&#8221; it said on its X account.



Adamson Bungei, Nairobi County Police Commander, did not answer phone calls seeking comment.



President Ruto told lawmakers from his governing coalition on Tuesday that he was happy &#8220;we are having a conversation about taxes and about debt and about what we need to do about it&#8221;.



Opponents of the latest tax hikes say they could&nbsp;harm Kenya&#8217;s&nbsp;economy.



On Wednesday and Thursday lawmakers will hold a line-by-line debate and vote on the legislation underpinning the budget.



This year&#8217;s finance bill aims to raise an extra 346.7 billion shillings ($2.7 billion) in additional revenue, finance minister Njuguna Ndung&#8217;u said last week.



Some taxes in last year&#8217;s finance law, including the housing levy, are still being challenged in court.



($1 = 128.0000 Kenyan shillings)



(Additional reporting by Jefferson Kahinju; Writing by George Obulutsa and Duncan Miriri; Editing by Alexander Winning, Christina Fincher and Susan Fenton)

Anti-finance bill protesters clash with police in Nairobi

Kenyan parliament panel urges govt to scrap some new taxes as hundreds protest

TikTok explains new AI Avatar feature

Nvidia’s Road To $3 Trillion: Can AMD Or Intel Ever Catch Up?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Parvoleta-Shtereva-Gemcorp-scaled.jpg" alt="" class="wp-image-497835" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Parvoleta-Shtereva-Gemcorp-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Parvoleta-Shtereva-Gemcorp-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Parvoleta-Shtereva-Gemcorp-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Parvoleta-Shtereva-Gemcorp-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Parvoleta-Shtereva-Gemcorp-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Parvoleta-Shtereva-Gemcorp-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Parvoleta Shtereva, CIO of Gemcorp</figcaption></figure>



Even as we celebrate the progress made in gender equality and women&#8217;s empowerment in emerging markets (EMs) and beyond, we must recognise the significant work that remains.



<h2 class="wp-block-heading" id="h-labour-force-participation">Labour force participation</h2>



Labour force participation rates are a critical metric of gender equality and economic development. World Bank data on female-to-male labour force participation highlights significant disparities across the EM universe. In regions such as the Middle East and India, these ratios remain notably lower while Africa’s ratio is one of the highest in the world and on par with that of China and North America, according to McKinsey research. Notably, Africa has also made strides in increasing female representation on executive committees and boards, with the highest board-level representation globally. However, most African women still work in low-paid, often subsistence-level jobs in the informal economy and, as evidenced by Chart 2, do not have matching access to financial services.



Governments are taking action on female labour participation. For example, Saudi Arabia has prioritised increasing women&#8217;s participation in the workforce as a core component of its Vision 2030 initiative, recognising that economic growth and gender equality are deeply intertwined. However, it takes more than government policy to destroy the structural barriers that prevent women from fully participating in the workforce. Cultural norms and expectations, impaired access to education and childcare facilities are just a few of the obstacles that need to be addressed. We have been a proud supporter of EMpower – The Emerging Markets Foundation – a philanthropic organisation that supports a multitude of women- and adolescent girl-focused programmes, dedicated to life skills, leadership, livelihoods and sexual and reproductive health. Meaningful progress is only possible through community-wide engagement with parents, elders, male peers, educators and the authorities and it takes time.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1196" height="712" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED.png" alt="" class="wp-image-497833" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED.png 1196w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-300x179.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-820x488.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-151x90.png 151w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-768x457.png 768w" sizes="auto, (max-width: 1196px) 100vw, 1196px" /></figure>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1196" height="688" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-1.png" alt="" class="wp-image-497834" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-1.png 1196w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-1-300x173.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-1-820x472.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-1-156x90.png 156w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Graph-OPED-1-768x442.png 768w" sizes="auto, (max-width: 1196px) 100vw, 1196px" /></figure>



<h2 class="wp-block-heading" id="h-access-to-water-and-sanitation">Access to water and sanitation</h2>



In many emerging markets women dedicate their daily time to a number of vital activities, ranging from generating an income, looking after children and elders to securing water supply for their homes by fetching water from sources that could be miles away.



Access to water from close and reliable sources has a positive impact on women&#8217;s lives, with benefits that go beyond well-being and health: dignity, ability to protect their families from disease, access to income opportunities by not having to spend time searching for water. Girls, who are usually assigned to this activity, can devote time to attending school and receiving a formal education and enjoying their childhood.



In Angola, Gemcorp Capital is financing a number of important infrastructure projects, including universal access to water with the Águas de Benguela, EPAL&#8217;s Sistema III, Quilonga Grande projects, as well as projects to combat drought in southern Angola in the provinces of Cunene and Huíla, which will guarantee access to water throughout the year, thus preventing families from constant need to migrate and enabling food security for the communities. These projects underway will benefit around 24 million people.



<h2 class="wp-block-heading" id="h-technology-driving-progress">Technology driving progress</h2>



Mobile telephony has revolutionised access to financial services, particularly for women and rural populations. Since 2000, mobile phone usage has surged in EM countries, often surpassing that of developed markets. One company driving data access across a number of African countries is Africell, part of Gemcorp’s investment portfolio. Africell is a fast-growing mobile network operator that provides affordable and reliable mobile network coverage to over 12 million subscribers across Africa. Their services include voice, data and mobile money, significantly contributing to economic growth. The rapid spread of mobile communications has had a profound impact on rural areas, where traditional infrastructure – both telephony and banking &#8211; is often lacking. This technological leap has empowered many women by providing financial inclusion through mobile payment services, enabling them to start businesses and achieve financial independence. The World Bank emphasises that no technology has spread faster globally than mobile communications, underscoring its critical role in development​.



Jumo, a financial technology platform provider and another one of our investee companies, is a major force in driving financial inclusion and development in Africa. One-third of Jumo’s 24 million unique customers are women and Jumo’s AI-powered scoring models are gender-, age- and ethnicity-blind. By leveraging technology, women can overcome prejudice and gain equal access financial services to improve their economic standing and gain greater autonomy. Financial inclusion is a cornerstone of women&#8217;s empowerment, allowing women to save money, invest in education and health, and build businesses. Supporting these innovative businesses through investment and policy measures is crucial for fostering sustainable development.



<h2 class="wp-block-heading" id="h-the-road-ahead">The road ahead</h2>



This is just a glimpse of the multitude of interventions that are crucial to supporting the women of emerging markets in their quest for equity and equality. Securing global financing for Africa and other rapidly growing emerging markets regions is essential. Policymakers, businesses, investors and civil society must work together to create inclusive policies, invest in women-focused initiatives, and ensure that technological and economic advancements benefit all.

Parvoleta-Shtereva-Gemcorp

Women in Emerging Markets: Progress and the path forward

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/SU6XM3FG2VIQ7PJBFXDGABCTFM-820x547.jpg" alt="" class="wp-image-497815" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/SU6XM3FG2VIQ7PJBFXDGABCTFM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/SU6XM3FG2VIQ7PJBFXDGABCTFM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/SU6XM3FG2VIQ7PJBFXDGABCTFM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/SU6XM3FG2VIQ7PJBFXDGABCTFM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/SU6XM3FG2VIQ7PJBFXDGABCTFM-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/SU6XM3FG2VIQ7PJBFXDGABCTFM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Customers peruse goods at Makola market in Accra, Ghana, June 15, 2015. REUTERS/Francis Kokoroko/File Photo</figcaption></figure>



ACCRA, June 18 (Reuters)&nbsp;&#8211;&nbsp;Ghana&#8217;s economy grew 4.7% year-on-year in the first quarter of 2024, the country&#8217;s statistics agency said on Tuesday.



Samuel Kobina Annim, the government statistician said the first quarter growth rate was driven by strong performance in industry and services sectors.



The gold-, oil- and cocoa-producer and its bondholders will restart talks this week to hash out a debt restructuring deal on $13 billion of international bonds.



The west African nation defaulted on most of its $30 billion in external debt in 2022, weighed by the COVID-19 pandemic, the war in Ukraine and rapid global interest rate hikes that boosted borrowing costs.



(Reporting by Christian Akorlie; Writing by Maxwell Akalaare Adombila Editing by Bate Felix)

Customers peruse goods at Makola market in Accra

Ghana’s economy grew 4.7% in the first quarter of 2024

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/FVASB46IHROJZMH44F6CQPKGAQ-820x547.jpg" alt="" class="wp-image-497812" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/FVASB46IHROJZMH44F6CQPKGAQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/FVASB46IHROJZMH44F6CQPKGAQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/FVASB46IHROJZMH44F6CQPKGAQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/FVASB46IHROJZMH44F6CQPKGAQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/FVASB46IHROJZMH44F6CQPKGAQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/FVASB46IHROJZMH44F6CQPKGAQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The buildings of the central business district of Plateau are pictured ahead of the presidential elections in Abidjan, Ivory Coast October 27, 2020. Picture taken October 27, 2020. REUTERS/Luc Gnago</figcaption></figure>



ABIDJAN, June 18 (Reuters)&nbsp;&#8211;&nbsp;Ivory Coast expects a more than threefold increase to its oil output by 2027, boosted by recent oil and gas discoveries at the West African nation&#8217;s Baleine and Calao offshore fields, President Alassane Ouattara said on Tuesday.



The world&#8217;s top cocoa-producing nation is hoping to become a major regional oil and gas producer and regional energy hub.



Ouattara told a joint session of parliament that more than $15 billion is expected to be invested in the country&#8217;s oil sector, adding that output would grow to about 200,000 barrels per day (bpd) from 60,000 bpd by 2027.



&#8220;It will be a spectacular leap,&#8221; Ouattara said.



Italy&#8217;s Eni has said it would invest $10 billion in developing the Baleine field, which will take place in three phases from 2023 to 2027.



Certified reserves of the Baleine field, discovered by the Italian energy group in 2021, are estimated at 2.5 billion barrels of oil and 3.3 trillion cubic feet of natural gas.



The group announced its Calao discovery in March, with preliminary assessments indicating potential resources ranging between 1 billion and 1.5 billion barrels of oil.



Ivory Coast&#8217;s economic growth is forecast around 7% between 2024 and 2027, President Alassane Ouattara also said, adding that the country is expected to remain the economic powerhouse of the French-speaking West Africa region.



(Reporting by Loucoumane Coulibaly and Bate Felix; Writing by Anait Miridzhanian; Editing by Kirsten Donovan and David Goodman)

FILE PHOTO: The buildings of the central business district of Plateau are pictured ahead of the presidential elections in Abidjan

Ivory Coast expects threefold oil output increase by 2027

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/T36KKEMZKBN7LFA5QARLJ6JYBA-820x429.jpg" alt="" class="wp-image-497783" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/T36KKEMZKBN7LFA5QARLJ6JYBA-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/T36KKEMZKBN7LFA5QARLJ6JYBA-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/T36KKEMZKBN7LFA5QARLJ6JYBA-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/T36KKEMZKBN7LFA5QARLJ6JYBA-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/T36KKEMZKBN7LFA5QARLJ6JYBA-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/T36KKEMZKBN7LFA5QARLJ6JYBA.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



GABORONE, June 18 (Reuters)&nbsp;&#8211;&nbsp;Botswana&#8217;s economy may fall short of the government&#8217;s 4.2% growth target for this year, a senior central bank official said on Tuesday, citing global and domestic constraints.



Finance minister Peggy Serame made the projection for a 4.2% increase in GDP in a budget speech in February, saying the government expected growth to accelerate from 2023 due to an improved performance in the diamond sector. Gross domestic product grew 2.7% in 2023.



However, Botswana&#8217;s mining sector, which is dominated by diamonds, is still struggling, reflecting sluggish market conditions globally.



Sales at Debswana Diamond Company, a joint venture between the southern African country&#8217;s government and Anglo American&#8217;s De Beers unit, were down about 48% year-on-year in the first quarter of 2024.



&#8220;From what we have seen in the first half of the year, unfavourable global economic conditions &#8230; as well as domestic structural constraints, one would expect that we are unlikely to attain the projected economic growth,&#8221; Innocent Molalapata, the central bank&#8217;s director of research and financial stability, told an economic briefing.



&#8220;A downward revision of the growth target might therefore be required,&#8221; Molalapata said, adding that mining output contracted roughly 27% in the first quarter.



The Bank of Botswana tends not to give precise GDP growth forecasts, leaving that to the finance ministry.



The International Monetary Fund forecasts Botswana&#8217;s economy will grow 3.6% in 2024.



(Reporting by Brian Benza; Editing by Tannur Anders, Alexander Winning and Susan Fenton)

T36KKEMZKBN7LFA5QARLJ6JYBA

Botswana may fall short of 4.2% growth target, cenbank official says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ZJ7VVLBOAZNETDZF34KQ7NPIJ4-820x547.jpg" alt="" class="wp-image-497768" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ZJ7VVLBOAZNETDZF34KQ7NPIJ4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ZJ7VVLBOAZNETDZF34KQ7NPIJ4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ZJ7VVLBOAZNETDZF34KQ7NPIJ4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ZJ7VVLBOAZNETDZF34KQ7NPIJ4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ZJ7VVLBOAZNETDZF34KQ7NPIJ4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ZJ7VVLBOAZNETDZF34KQ7NPIJ4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. REUTERS/Dado Ruvic/Illustration//File Photo</figcaption></figure>



LAGOS/NAIROBI/JOHANNESBURG, June 17 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;When the Nigerian government announced plans in April to develop a multilingual AI tool to boost digital inclusion across the West African nation, 28-year-old computer science student Lwasinam Lenham Dilli was thrilled.



Dilli had struggled to scrape datasets from the internet to build a large language model (LLM), used to power AI chatbots, in his native Hausa language as part of his final-year project at university.



&#8220;I needed texts in English and their corresponding translation in Hausa but I couldn&#8217;t get anything online, (there was) no clean data,&#8221; Dilli told the Thomson Reuters Foundation.



&#8220;(Creating local language LLMs) is a way to ensure that our local dialects and languages will not be forgotten or left out of the AI ecosystem,&#8221; he added.



The world has been swept up in a whirlwind of AI mania, with tools such as OpenAI&#8217;s ChatGPT, Meta&#8217;s Llama 2, and Mistral AI captivating millions globally with their ability to generate human-like text.



But for many tech-savvy Africans, the excitement has been tempered by a frustrating reality: when languages like Hausa, Amharic, or Kinyarwanda are entered into the chat, many of these advanced systems falter, often producing nonsensical responses.



Technology experts warn the lack of LLMs in African languages will lead to the exclusion of millions of people on the continent, increasing both the digital and economic divide.



The Nigerian government-led initiative to develop a multilingual LLM aims to level the playing field.



&#8220;The LLM will be trained on five low-resource languages and accented English to ensure stronger language representation &#8230; for development of artificial intelligence solutions,&#8221; said Nigeria&#8217;s Digital Economy Minister Bosun Tijani in April.



The government will partner with Nigerian AI startups, and local data will be collected by volunteers who are fluent in any of five Nigerian languages: Yoruba, Hausa, Igbo, Ibibio, and West African lingua franca—Pidgin.



To build the model, the project will also draw on the expertise of more than 7,000 fellows from Nigeria&#8217;s tech talent programme &#8211; a government scheme to train three million people in skills such as coding and programming.



Silas Adekunle, co-founder of Awarri, an AI startup that is part of the initiative, said building a nuanced AI tool that understood Nigeria&#8217;s unique language and cultural landscape presented many challenges.



&#8220;We have so many different accents and languages, and this (LLM) will enable many people and developers to build products that leverage AI but are for the Nigerian market,&#8221; said Adekunle.



&#8220;The scale of the project, especially with limited resources, has required us to be creative in how we train the model, gather the data, compute and label what we have.&#8221;



<h2 class="wp-block-heading" id="h-closing-the-ai-language-gap">CLOSING THE AI LANGUAGE GAP</h2>



Africa is home to more than 2,000 languages spoken across 54 countries, according to the United Nations Educational, Scientific and Cultural Organization (UNESCO).



However, the majority of African languages remain underrepresented on the internet. English dominates the digital space, accounting for around 50% of all websites, followed by Spanish, German, Japanese, and French.



Along with the Nigerian government initiative, there are also a small but growing number of African startups rising to the challenge of developing AI tools in languages like Swahili, Amharic, Zulu and Sesotho.



In Kenya, for instance, health tech firm Jacaranda Health has pioneered the first LLM operating in Swahili to improve maternal healthcare in East Africa.



Built on Meta&#8217;s Llama 3 system, UlizaLlama (AskLlama) aims to refine Jacaranda Health&#8217;s SMS service for low-income Swahili-speaking expectant mothers who have queries ranging from dietary concerns and fetal movement to exercise during pregnancy.



The platform currently provides pre-written automated responses, but once UlizaLlama is integrated by the end of June, it will tailor responses to individual needs, offering more detailed pregnancy guidance and emergency support.



&#8220;A lot of these expectant moms can&#8217;t just do a Google search. UlizaLlama&#8217;s goal is to make sure that we get them the accurate answers in the fastest possible time,&#8221; Jay Patel, Jacaranda Health&#8217;s director of technology, told the Thomson Reuters Foundation.



&#8220;We&#8217;re shooting for about 85% accuracy to start with and a faster response time. At the moment, it takes a few minutes to respond, but we are hoping to get that down to less than a minute in the future.&#8221;



In South Africa, the Masakhane initiative is using open-source machine learning to translate African languages.



Lelapa AI, a South African AI research lab, has pioneered VulaVula – a for-profit language processing tool that translates, transcribes and analyses languages in English, Afrikaans, Zulu and Sesotho.



<h2 class="wp-block-heading" id="h-data-scarcity-ethical-concerns">DATA SCARCITY, ETHICAL CONCERNS</h2>



But AI experts say building LLMs in African languages poses significant challenges, ranging from availability of data to ethical concerns over consent, compensation and copyright.



Many African languages are low-resource languages, meaning there is a scarcity of data to train these models effectively &#8211; unlike high-resource languages such as English or French.



Michael Michie, co-founder of Everse Technology Africa, an AI startup building intelligence into data protection and privacy, said collecting the data needed to train LLMs also raised ethical questions.



In many African communities, oral tradition predominates, and certain communities may not be interested in sharing their language to train LLMs and this should be respected.



&#8220;There are currently no regulations or laws in African countries that address issues related to consent, privacy and compensation to communities when collecting data to train AI tools &#8211; this needs to be addressed,&#8221; said Michie.



&#8220;There are questions of who owns the language and who benefits. There needs to be guidelines to prevent exploitation and ensure the development of these LLMs benefits the people they are meant to serve,&#8221; he added.



Open-source initiatives like Creative Commons, which allow creators to legally share their work with specified conditions like ensuring attribution and non-commercial use, are also not a perfect solution, said some AI experts.



&#8220;At the moment there&#8217;s this push of saying everything should just be under Creative Commons,&#8221; said Vukosi Marivate, associate professor of computer science at the University of Pretoria and co-founder of Lelapa AI.



But if everything is open source, it may be harder to properly reimburse and acknowledge the original contributors to these language models, he said.



&#8220;A lot of people are working on LLMs now because of the prestige, that&#8217;s where the money is, but we need to make sure that our languages are actually being taken care of.&#8221;



(Reporting by Bukola Adebayo, Nita Bhalla and Kim Harrisberg; Editing by Clar Ni Chonghaile)

FILE PHOTO: Illustration shows AI (Artificial Intelligence) letters and computer motherboard

From Swahili to Zulu, African techies develop AI language tools

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



JOHANNESBURG, June 18 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Tuesday.



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



The Johannesburg Stock Exchange will release data on foreigners&#8217; buying and selling of bonds and stocks during the previous week.



South Africa&#8217;s government will hold its weekly auction of long-term bonds.



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



Telkom, South Africa&#8217;s third-biggest telecom company, said on Tuesday its headline earnings jumped 201% in the full-year to March.



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



South Africa&#8217;s rand gained on Friday after the Democratic Alliance said a deal had been struck with the African National Congress to form a unity government.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed around 0.7% stronger. South Africa&#8217;s benchmark 2030 government bond was flat at 10.125%.



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



Asian stocks tracked Wall Street higher on Tuesday ahead of a chorus of Federal Reserve officials due to speak later in the day, while the Australian dollar held steady after its central bank offered few surprises in its policy decision.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



The S&amp;P 500 and Nasdaq scored record closing highs on Monday as technology shares rallied on enthusiasm over artificial intelligence ahead of this week&#8217;s economic data and Federal Reserve officials&#8217; speeches that could shed light on monetary policy.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold prices edged higher on Tuesday as Treasury yields eased, with market participants awaiting U.S. data and comments from Federal Reserve officials for more clarity on the central bank&#8217;s roadmap for interest rate cuts. 



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



BUSINESS DAY



&#8211; Surge of optimism boosts stocks as cabinet haggling begins



(Compiled by Tannur Anders)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on June 18

<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>



June 18 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.



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



Ivory Coast&#8217;s President Alassane Ouattara is scheduled to address the upper and lower houses of parliament, raising expectations he may clarify whether he plans to contest the 2025 election.



Kenyan citizens are expected to gather at the parliament for a protest, dubbed &#8220;Occupy Parliament&#8221;, to implore lawmakers to reject a proposed finance law, called Finance Bill 2024.



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



Asian stocks tracked Wall Street higher on Tuesday ahead of a chorus of Federal Reserve officials due to speak later in the day, while the Australian dollar held steady and domestic shares rose ahead of the country&#8217;s interest rate decision.



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



Oil prices edged down in Asian trade on Tuesday, after posting gains in the previous session, as markets remained cautious about global demand growth prospects amid expectations of stronger supplies.



<h2 class="wp-block-heading" id="h-cocoa-ghana">COCOA GHANA</h2>



Ghana will start purchases from the cocoa light crop on Friday, maintaining the price it pays farmers at 33,120 cedi ($2,215) per metric ton, the country&#8217;s Cocobod regulator said on Sunday.



<h2 class="wp-block-heading" id="h-cocoa-ivory-coast">COCOA IVORY COAST</h2>



Mainly above-average rains last week in most of Ivory Coast&#8217;s major cocoa regions augur well for a strong finish of the April-to-September mid-crop, farmers said on Monday.



((Compiled by Nairobi Newsroom))

African Markets – Factors to watch on June 18

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/03/shutterstock_392452534_ZAR-spread_cu-1024x683-1-820x547.jpg" alt="ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions" class="wp-image-365501" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/03/shutterstock_392452534_ZAR-spread_cu-1024x683-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/shutterstock_392452534_ZAR-spread_cu-1024x683-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/shutterstock_392452534_ZAR-spread_cu-1024x683-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/shutterstock_392452534_ZAR-spread_cu-1024x683-1-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/shutterstock_392452534_ZAR-spread_cu-1024x683-1.jpg 1024w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions</figcaption></figure>



JOHANNESBURG, June 18 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand was slightly stronger in early trade on Tuesday, building on gains after unity government members were confirmed last week and ahead of talks by U.S. Federal Reserve officials later in the day.



At 0641 GMT, the rand traded at 18.2350 against the dollar, about 0.15% stronger than its previous close.



South Africa&#8217;s National Assembly sat for the first time on Friday after last month&#8217;s election. Cyril Ramaphosa of the African National Congress (ANC) was re-elected as president.



Five political parties have signed up to join a government of national unity after the ANC lost its majority in the vote, including the pro-business Democratic Alliance which is favoured by markets.



&#8220;The formation of a government of national unity is being liked by investors as the new government sets a platform for accelerated infrastructure and other reforms, to get the economy back on track after years of low growth and high unemployment,&#8221; Rand Merchant Bank analysts said in a research note.



Traders will on Tuesday look for hints from Fed officials on the future interest rate path of the world&#8217;s biggest economy.



Like other emerging market economies, the risk-sensitive rand often takes cues from global factors.



South Africa&#8217;s benchmark 2030 government bond was stronger in early deals, with the yield down 3 basis points to 10.095%.



(Reporting by Tannur Anders; Editing by Andrew Heavens)

ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions

South African rand extends gains after unity government confirmed, Fed talks ahead

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="512" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/AFREXIMBANK-HQ-scaled-1.jpg" alt="" class="wp-image-497710" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/AFREXIMBANK-HQ-scaled-1.jpg 1024w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/AFREXIMBANK-HQ-scaled-1-300x150.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/AFREXIMBANK-HQ-scaled-1-820x410.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/AFREXIMBANK-HQ-scaled-1-160x80.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/AFREXIMBANK-HQ-scaled-1-768x384.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Photo: via Flickr</figcaption></figure>



LONDON, (Reuters) &#8211; Some of Africa&#8217;s smaller multilateral development banks, including the Africa Export-Import Bank (Afrexim) and the Trade and Development Bank (TDB), could be stripped of their Preferred Credit Status, JPMorgan analysts warned.



Preferred Creditor Status (PCS) is a widely accepted principle under which MDBs are given priority for repayment of debt when a country or company they have lent to experiences financial stress.



It is at the heart of why the banks are able to provide cheaper financing to developing countries. However, larger MDBs have suggested that some smaller regional ones, especially in Africa, may not provide enough concessional loans to justify the privilege.



It is something that has been source of tension in debt restructurings taking place in Zambia, Ghana and Malawi where there is uncertainty about what happens to the loans Afrexim, TDB and others have provided to the countries.



JPMorgan&#8217;s analysts said in a research note on Monday that it, &#8220;looks more likely to us now that PCS gets tested negatively in a few sovereign restructurings for smaller MDBs.&#8221;



&#8220;This could result in their claims being treated as part of overall restructured debt,&#8221; adding that if that was the case it would raise the riskiness of their bonds.



They estimated that TDB’s exposure to the governments of Malawi and Zambia was likely to be included in both countries debt restructurings.



Afrexim’s exposure to Ghana and Malawi&#8217;s governments is also at risk, although this is less certain with Ghana&#8217;s big official sector creditors reportedly wanting Afrexim to take losses but the government also approaching the IMF in support of the bank.&#8221;Taking this risk and banks’ loan concentrations in mind and also bond valuations, we position underweight Afrexim and TDB,&#8221; JPMorgan&#8217;s analysts said, underweight effectively being a recommendation to sell or avoid a bond.



Afrexim primarily makes direct loans to central banks, commercial banks and central governments. Its big shareholders include Nigeria&#8217;s government and Egypt&#8217;s central bank which both have a 15% stake but it has some private shareholders too.



TDB focuses on trade and project financing in Eastern and Southern Africa. The African Development Bank has a 9% shareholding. Egypt, Ethiopia, Kenya and Tanzania have 5-7% each and, like Afrexim, it has some private ownership as well.



(Reporting by Marc Jones; Editing by Sharon Singleton)

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Smaller African development banks Preferred Credit Status under threat, JPMorgan warns

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South African inflation stable but still above central bank objective

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Ivory Coast expects threefold oil output increase by 2027

Botswana may fall short of 4.2% growth target, cenbank official says

From Swahili to Zulu, African techies develop AI language tools

South African Markets – Factors to watch on June 18

African Markets – Factors to watch on June 18

South African rand extends gains after unity government confirmed, Fed talks ahead

Smaller African development banks Preferred Credit Status under threat, JPMorgan warns

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South African inflation stable but still above central bank objective

3 biggest challenges facing women in 2024

South African rand firms to 11-month high, local inflation in focus

African Markets – Factors to watch on June 19

Kenyan parliament panel urges govt to scrap some new taxes as hundreds protest

TikTok explains new AI Avatar feature

Nvidia’s Road To $3 Trillion: Can AMD Or Intel Ever Catch Up?

Women in Emerging Markets: Progress and the path forward

Ghana’s economy grew 4.7% in the first quarter of 2024

Ivory Coast expects threefold oil output increase by 2027

Botswana may fall short of 4.2% growth target, cenbank official says

From Swahili to Zulu, African techies develop AI language tools

South African Markets – Factors to watch on June 18

African Markets – Factors to watch on June 18

South African rand extends gains after unity government confirmed, Fed talks ahead

Smaller African development banks Preferred Credit Status under threat, JPMorgan warns

Why Car Payments Are So High Right Now

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