Podcasts about kganyago

Die president van die Suid-Afrikaanse Reserwebank, Lesetja Kganyago, sê die G20 moet sleutelkwessies wêreldwyd voorkeur gee en besluitneming vereenvoudig om weer relevant te wees. Hy het in Washington gepraat op die Brookings Global Economy and Development-program, en die G20 se potensiaal beklemtoon om komende uitdagings aan te pak en volhoubare groei te bevorder. Kganyago het beklemtoon dat beter prosesse noodsaaklik is vir die G20 om globale bestuur te versterk in vandag se toenemend ingewikkelde ekonomiese landskap:

Die Suid-Afrikaanse Reserwebank se president, Lesetja Kganyago, waarsku dat wêreldwye handelspanning en ʼn moontlike BTW-verhoging kan twee jaar se verlangsaamde inflasie ontspoor. Die nasionale begrotingsrede is verlede week uitgestel nadat die regering van nasionale eenheid op die nippertjie verskil het oor die moontlikheid dat BTW met 2 persent verhoog word. Kganyago het by ʼn G20-vergadering van finansiële amptenare in Kaapstad aan CNBC Africa gesê Suid-Afrika se agenda vanjaar fokus daarop om oorgrensbetalings te verbeter:

The Special Investigating Unit says an investigation into procurement fraud at Eskom has revealed that thousands of the Power Utility's workers have over the years failed to comply with the company's conflict of interest policy. Addressing Parliament's Standing Committee on Public Accounts, SIU officials say Eskom employees are linked to numerous entities serving as Eskom's vendors, contractor's and supplies which have accumulated Billions of rands over a period of nearly two decades. For a brief overview of some of these investigations, Sakina Kamwendo spoke to SIU spokesperson, Kaizer Kganyago.

Die president van die Suid-Afrikaanse Reserwebank, Lesetja Kganyago, is optimisties oor die land se ekonomiese groei en voorspel teen 2027 'n groei van 2 persent in die bruto binnelandse produk. Daar is wel gemengde ekonomiese data, insluitend gedempte vervaardigingsprestasie en 'n bemoedigende toename in werksgeleenthede. Kganyago verwag voortgesette hervormings in sektore soos elektrisiteit en vervoer om langtermyngroei te bevorder. Hy is vol vertroue die ekonomie sal in die mediumtermyn verbeter:

Die president van die Suid-Afrikaanse Reserwebank, Lesetja Kganyago sê die feit dat Suid-Afrika op die gryslys van die Finansiële Aksietaakspan is, hou steeds 'n gevaar in vir die land se ekonomiese vooruitsig en finansiële bestendigheid. Suid-Afrika is 'n jaar gelede op die gryslys geplaas weens die regering se mislukking om internasionale standaarde en regulasies teen geldwassery en terrorisme-befondsing af te dwing. Kganyago sê die regering het in 'n groot mate agt van die 22 aksie items wat die taakmag geïdentifiseer het aangespreek:

Die president van die Suid-Afrikaanse Reserwebank, Lesetja Kganyago, waarsku Suid-Afrika sal waarskynlik beleggers verloor as koalisiebeleide nie bestendig is nie. Die ANC onderhandel tans met opposisiepartye om 'n koalisieregering te vorm nadat hy sy meerderheid verloor het in verlede week se verkiesing. Sommige ekonome meen 'n koalisie-ooreenkoms tussen die ANC en die DA sal help om mark-onsekerheid te verminder. Kganyago sê die sentrale bank sal steeds sy mandaat navolg:

South African policymakers are in discussions on lowering the central bank's inflation target, its governor said on Wednesday, adding that a lower target would make the country more competitive and bring the central bank in line with peers. Lesetja Kganyago told Reuters he personally preferred a decision that would lower the target from its current range of between 3% and 6% "before we get to 2025", but that teams from the South African Reserve Bank (SARB) and National Treasury were still identifying the appropriate range and risks associated with it. "Our teams are in conversation now," Kganyago said in an interview. "The teams will advise the governor and the (finance) minister and say ok this is the appropriate target and this is the appropriate timeline within which we have got to achieve the target." South Africa introduced its inflation-targeting framework in 2000, and had planned to lower the target to 3%-5% and then 2%-4%. But the target was never lowered, something Kganyago views as a big mistake and has been vocal about for years. He said the current band was too wide and served to anchor inflation expectations higher than the bank would like. Regarding the general elections in May, he said there was huge uncertainty about the outcome which was "keeping the country's risk premium elevated", referring to the additional return investors demand to compensate them for local risks. Kganyago, whose term as SARB governor was extended for another 5 years last month, said President Cyril Ramaphosa had tried to mitigate some of the uncertainty surrounding South Africa by ensuring stability in the leadership of key institutions like the revenue service and central bank. Asked what he wanted to achieve in his third term starting in November, Kganyago said "the job on the inflation front is not yet done". Over the longer term, the key to reducing the country's risk premium lies in prudent macroeconomic and fiscal policies, he said. Inflation picked up to 5.6% year-on-year in February, and the bank only sees it falling to 4.5% in the fourth quarter of 2025. Kganyago dismissed the idea of using explicit forward guidance on interest rates as a way to further rein in inflation expectations, saying bank officials did not view it as a useful tool.

Die president van die Suid-Afrikaanse Reserwebank, Lesetja Kganyago, sê die buurland se ekonomie het in die vierde kwartaal van verlede jaar met slegs 0,1 persent gegroei en nie aan verwagtinge voldoen nie. Hierdie swak prestasie word toegeskryf aan uitdagings aan die aanbodkant, veral ernstige beurtkrag, wat kwesbaarheid in die ekonomie beklemtoon. Kganyago sê die teleurstellende groei wek kommer oor die ekonomie se veerkragtigheid en sy vermoë om te herstel ná terugslae, wat verskeie sektore beïnvloed en moontlik breër ekonomiese verbeterings vertraag:

Die Monetêre Beleidskomitee van die Suid-Afrikaanse Reserwebank het eenparig besluit die terugkoopkoers bly onveranderd op 8,25-persent, wat die prima-uitleenkoers bestendig hou op 11,75-persent. Reserwebank-president Lesetja Kganyago noem volgehoue globale inflasiedruk, met inflasie naby die bank se boonste teikenvlak teen 5,6-persent in Februarie. Kganyago sê ekonomiese groeivooruitsigte bly gematig weens beperkings aan die verskaffingskant van die ekonomie, soos elektrisiteitstekorte.

Catch up on your top entertainment headlines of the week, adding exciting commentary from entertainment journalists and voices from your faves. TshisaLIVE

President Cyril Ramaphosa has reappointed South African Reserve Bank (SARB) Governor Lesetja Kganyago for another term of five years. Kganyago's new term will begin in November this year. President Ramaphosa's spokesperson Vincent Magwenya says the re-appointment of Kganyago follows consultations with the Minister of Finance, Enoch Godongwana, and the directors of the reserve bank. Meanwhile, the Congress of South African Trade Unions (COSATU) says it is disappointed that government missed the opportunity to introduce new blood and persons with a diversity of economic views into the SARB. Sebenzile Nkambule poke to Matthew Parks, Cosatu's  Acting National Spokesperson...

Noluthando Mthonti-Mlambo speaks to the Director of Denker Capital, Kokkie Kooyman about the Reserve Bank appointments. Reserve Bank Governor Lesetja Kganyago is to remain at the helm of the SARB for another five years, while Dr Mampho Modise has been appointed as Deputy Governor to replace former deputy Kuben Naidoo who left the bank in 2023.See omnystudio.com/listener for privacy information.

South Africa's central bank governor said on Wednesday that he was confident the country would be removed from an international financial crime watchdog's "grey list" next year, given the work that is under way to fix identified issues. The International Financial Action Task Force (FATF) last year placed South Africa on a "grey list" of countries under special scrutiny over implementing standards to prevent money laundering and terrorism financing. Speaking at a financial sector conference, South African Reserve Bank Governor Lesetja Kganyago said being on the watch list had "been a costly episode for us". "The lesson is that joint efforts are required to look after the integrity of South Africa's financial system. We all suffer when this is compromised," he said. Last month, the National Treasury said the task force confirmed that five of 22 actions it had identified had been addressed or largely addressed, but that it would be a challenge to address all remaining 17 items by February 2025, when the task force conducts its next review. Being placed on the list was a reputational setback for Africa's most advanced economy, and analysts said it could complicate its attempts to obtain funding and support from multilateral development institutions and official lenders, among other negative factors. South Africa's economy eked out marginal growth of 0.6% in 2023, with growth inching up just 0.1% in the final quarter. "We are falling behind. A big reason for this is that other places have functioning rail networks, ports and electricity," said Kganyago. At the same time, government debt has risen too fast and is too high, he said. Inefficiencies at South Africa's State power utility Eskom and port and freight rail operator Transnet have stifled growth, while a cost-of-living crisis has squeezed consumer spending.

On this episode Remo interviews Solly Kganyago on the history of Christianity in Africa. They have a conversation about how it arrived in Southern Africa, the difference between the spirituality inherent to Africans and Christianity and the negative and positive effects the arrival of Christianity had on the people in the continent.  If you'd like to get in touch with us. Please touch base with us on the website: https://thriveinlifeandfaith.wordpress.com/    

For its final decision of the year, the Monetary Policy Committee (MPC) left South Africa's key interest rate unchanged at 8.25% for a third consecutive meeting, in line with economists' expectations. This comes after annual consumer price inflation leaped to 5.9% in October from 5.4% in September, closing in on the upper end of the SA Reserve Bank's targeted band of 3% to 6% and marking a third month of increases. That figure was higher than economists expected. "Risks to the inflation outlook still are still assessed to the upside," Reserve Bank Governor Lesetja Kganyago said in Pretoria on Thursday. The decision to keep interest rates on hold was unanimous, but the committee stands ready to act should risks materialise, Kganyago said. Inflation has been accelerating over the past three months, the opposite of what the MPC would like to see - and there is the added risk of what South Africa's latest round of port challenges could do to prices in the coming weeks, said Angelika Goliger, EY Africa Chief Economist, referring to Transnet's delays at various harbours. Kganyago also noted the lengthy delays and said the operation of ports and rail "have become a serious constraint". For consumers, their loans won't cost them more over the festive season, but rates are at 14-year highs and most economists don't expect any chance for cuts until at least March next year. HSBC was less optimistic than others and said the MPC may only cut rates from September. "The near-term risk is for interest rates to edge higher, should the SA Reserve Bank's inflation projections start to deteriorate, lowering the real policy rate and delaying the return to the 4.5% midpoint target,'" HSBC said. The Reserve Bank's gross domestic product outlook improved, with it forecasting 0.8% growth this year, up from 0.7%, and increased it to 1.2% next year. This was after spending by firms, households, public corporations and general government remained positive in real terms on an annual basis; the disposable income of households being expected to grow, albeit slowly; the investment forecast for the year was revised up to 7.7% in September and credit growth to households and corporates slowed, but remained positive. "At the current repurchase rate level, policy is restrictive, consistent with the inflation outlook and elevated inflation expectations. Decisions will continue to be data dependent and sensitive to the balance of risks to the outlook," Kganyago said.

South Africa's Finance Minister rebuffed a call by some in the nation's governing party for him to push the central bank to use measures other than lifting borrowing costs to curb inflation, as he reaffirmed the bank's independence. The African National Congress (ANC) on Sunday asked Enoch Godongwana to hold urgent talks with the South African Reserve Bank (Sarb) about ways to address the surging cost of living "other than raising interest rates." The comments come as the ANC gears up campaigning for presidential elections next year, when the party risks losing political support because of weak economic growth, high unemployment and growing inequality. "I'm not in discussion with the central bank on that matter," Godongwana said Tuesday in an interview with Bloomberg Television at a meeting of Group of 20 finance chiefs in Gandhinagar, India. "The central bank in South Africa, by constitution, is independent and its purpose is defined as that of protecting the value of the currency in the interests of balanced growth." The Sarb's monetary policy committee has raised its benchmark rate by 475 basis points since November 2021 in a bid to rein in inflation that has been above the 4.5% midpoint of its target range, where it prefers to anchor price-growth expectations, for more than two years. The central bank is scheduled to announce its next rate decision on Thursday, the day after latest inflation data is released. Economists surveyed by Bloomberg forecast annual price growth slowed to 5.5% in June, compared with 6.3% in May. They expect the Sarb to raise rates by 25 basis points to 8.5%. Godongwana regularly meets with central bank Governor Lesetja Kganyago to make proposals on the direction of policy. While the ANC has previously called for the central bank's mandate to be broadened to shore up the economy, it has said it's committed to preserving the bank's independence. Rate Decision The bank is "required to be in consultation with the minister responsible for finances" under the constitution, "but that doesn't mean the minister responsible for finances can tell them what to do," Godongwana said. Kganyago said earlier this month that while tight monetary policy is painful, high inflation does even more harm to those who can least afford it. "Inflation is ravaging the poor," he said in a July 5 interview with Johannesburg-based broadcaster Metro FM. "The rich have got property. They've got shares, and those cushion them against rising inflation." Those craving relief from elevated borrowing costs should understand that the way to get them is price stability. "Inflation has got to fall because we know historically that when inflation is low in South Africa, South Africa experiences lower interest rates," Kganyago said. "That is where we should be going." Godongwana also said the Treasury expects to reduce its economic growth forecast because of frequent power outages in South Africa. The revised estimate will be announced when the finance ministry unveils its medium-term budget statement in October, he said, declining to provide specific numbers. The Treasury forecast in February that the economy will grow 0.9% this year, compared with 2.5% last year. The fluctuation in electricity output make it hard to make a reliable estimate at this stage, Godongwana said.

BANYANA WORLD CUP ANNOUNCEMENT  On Friday (23 June 2023), head coach of the Sasol-sponsored Banyana Banyana, Desiree Ellis, will reveal the final squad of 23 players that will represent South Africa global women's football showpiece – their second in a row.  The announcement comes exactly a month before the African Champions take to the field for their first match against Sweden in New Zealand.  There are already nine changes from the squad that participated in Banyana Banyana's maiden World Cup in France four years ago – with the likes of Mapaseka Mpuru, Nothando Vilakazi, Janine van Wyk, Leandra Smeda, Busisiwe Ndimeni, Mamello Makhabane, Rhoda Mulaudzi, Amanda Mthandi and Ode Fulutudilu, all missing out this time around.  The survivors from 2019 spectacle are: Andile Dlamini (GK), Kaylin Swart (GK), Lebohang Ramalepe, Noko Matlou, Bambanani Mbane, Bongeka Gamede, Tiisetso Makhubela, Refiloe Jane, Karabo Dhlamini, Kholosa Biyana, Sibulele Holweni, Linda Motlhalo, Thembi Kgatlana and Jermaine Seoposenwe.

Reserve Bank governor Lesetja Kganyago urged politicians to make hard, unpopular fiscal choices to maintain the credibility of budgetary commitments as they juggle spending pressures with one of the heaviest debt loads in emerging markets.

In this episode, Dumo and Nzuzo discuss Lesetja Kganyago's warning of expecting more interest rate hikes and their implications. DONATE · SUBSCRIBE TO OUR NEWSLETTER

Four South African National Defence Force (SANDF) members appeared in the military court on allegations of personal protective equipment (PPE) fraud and corruption to the tune of R273-million. According to the Special Investigating Unit (SIU), the four - Lieutenant Dimakatso Modise, Lieutenant-Colonel Vivian Seadimo Peu, Captain Mbomolelo Avroline Tshikosi and Leading Seaman Suzen Jiane - appeared on charges of fraud and corruption related to the procurement of PPE items, such as masks and gloves, during the height of the Covid-19 pandemic. SIU spokesperson Kaizer Kganyago said investigations found the SANDF irregularly awarded PPE contracts - worth R273-million - to five companies between May and August 2020. "Evidence from the SIU probe shows that the list of service providers was predetermined, and some of the PPE items were delivered before approval, thus deviating from normal supply chain management processes. "The SIU investigation revealed that the procurement process followed by the SANDF to procure PPE related items was not fair, transparent, equitable, competitive or cost-effective and thus contravened the provisions of Section 217(1) of the Constitution." Kganyago said the four would be appearing in court on Friday, and it was "a continuation of the implementation of the SIU investigation outcomes and consequence management to recover assets and financial losses suffered by state institutions and to prevent further losses, and to hold them accountable". He said the SIU would institute civil action in the Special Tribunal to review and set aside the contracts, and recover the money paid.

Die sperdatum het aangebreek vir President Cyril Ramaphosa se regspan om antwoorde aan die Suid-Afrikaanse Reserwebank te verskaf oor die Phala Phala-sage. Die president van die Reserwebank, Lesetja Kganyago, het verlede week 'n brief aan die parlement se staande komitee oor finansies gerig. Volgens die sentrale bank het Ramaphosa nie die buitelandse valuta-transaksie aangemeld nie. Kganyago sê 'n ondersoek sal begin sodra alle toepaslike inligting ontvang is. 'n Soedannese sake-eienaar het volgens berigte die kontant aan 'n werknemer op Ramaphosa se plaas in Limpopo betaal, en dit is later gesteel. Dawie Klopper 'n ekonoom in die buurland praat met Kosmos 94.1 Nuus oor moontlike stappe wat die bank teen Ramaphosa kan neem.

President Cyril Ramaphosa did not report the foreign exchange transaction that was the source of the US dollars stolen from his farm, as required by law, his response to the South African Reserve Bank (SARB) indicates. Ramaphosa also has yet to respond adequately to the central bank, which has written to his lawyers asking for details of the transaction. In a letter to Parliament's Standing Committee on Finance on Tuesday the governor of the Reserve Bank Lesetja Kganyago said following press reports about the robbery its Financial Surveillance Department had written to Ramaphosa's legal advisors on 20 June requesting "information and details regarding the origin of the foreign currency and any underlying transaction that may pertain to it." The bank had initially given Ramaphosa 21 business days to respond to the letter and subsequently granted an extension of 15 working days. The letter states, "The department has since received a response from the president's legal advisors to which further information and details were requested by the department. A response to this additional request for information is required and expected no later than 8 September, whereafter the department will be able to progress its investigation into the matter." Kganyago's letter to the committee follows letters written to it by two of the committee members Economic Freedom Fighters (EFF) deputy leader Floyd Shivambu and the Democratic Alliance (DA) MP Dion George. The SARB administers South Africa's exchange control regulations and investigates contraventions. Under the regulations, all foreign currency transactions must be reported to the bank within 30 days. Kganyago's letter requesting information confirms that Ramaphosa did not report the transaction as required by law. Ramaphosa has previously said that the cash stolen from his farm Phala Phala was the proceeds of the sale of animals. The theft first came to light in June when former spy boss Arthur Fraser declared in an affidavit lodged with the police that at least $4-million, which had been concealed in furniture, was stolen from the farm. Ramaphosa has said the amount was nowhere near as large but has not provided any information on the sum. On Tuesday, Ramphosa faced a chaotic and humiliating question session in Parliament where for several hours he declined to answer questions on Phala Phala, citing legal advice. While opposition MPs from the EFF, African Transformation Movement and DA demanded answers, African National Congress MPs argued that Ramaphosa's refusal to answer constituted "a response" which was all that was required in terms of the rules. The sitting was eventually adjourned. On social media Ramaphosa supporters defended the President arguing that it was not Ramaphosa's responsibility to oversee the day-to-day running of the farm. Shivambu said that Kganyago's letter was proof that Ramaphosa was already guilty of at least one crime, in failing to report the transaction. DA leader John Steenhuisen described Ramaphosa's failure to answer as "Nkandla 2.0" reminiscent of the former President Jacob Zuma's refusal to answer questions on the upgrades to his home, while MPs rallied around him to defend him.

Die toekenning van honneursgrade deur die Fort Hare Universiteit in die Oos-Kaap word ondersoek. Dit volg nadat President Cyril Ramaphosa die Spesiale Ondersoekeenheid gemagtig het om die instelling se sake te ondersoek. Die woordvoerder, Kaizer Kganyago, sê die eenheid sal bewerings oor korrupsie en wanadministrasie ondersoek. Kganyago voeg by die eenheid sal ook enige finansiële verliese verhaal wat die staat as gevolg van korrupsie en nalatigheid gely het.

South Africa's central bank raised its benchmark interest rate by three-quarters of a percentage point to 5.5 percent the steepest hike in a decade. The move announced a day after South Africa reported a 13-year high in inflation was the fourth rate hike in a row, as the South African Reserve Bank voiced concerns over high inflation and weak economic growth. Governor Lesetja Kganyago says the central bank decided to increase the repurchase rate by 75 basis points to 5.50 percent per year with effect from Friday. Kganyago says the rate increase aimed to help bring inflation back down to the bank's target band of three to six percent.

The repo rate has been hiked by another 75 basis points on Thursday. This brings the repo to 5.5% and the prime rate to 9%. Three members of the monetary policy committee supported the hike, while one wanted 100 basis points and another preferred a 50 basis point hike. This is the biggest hike since September 2002, when the repo rate was hiked by 100 basis points amid an emerging market crisis. The latest interest rate hike follows a painful inflation number that was released on Wednesday: consumer inflation reached 7.4%, the highest level in 13 years. On a new home loan of R2-million at the prime rate, the latest hike will increase payments by R950 a month. The monthly payment on that mortgage has now climbed by almost R3 000 since November last year. In May, the Reserve Bank hiked rates by 50 basis points. The large rate hike adds more pressure on many South African households, who are facing spiralling food and fuel prices, triggered mostly by the impact of the Ukraine invasion. Inflation continues to surprise to the upside, said Lesetja Kganyago, governor of the SA Reserve Bank. The bank now expects headline inflation of 6.5% for this year, higher than its previous forecast of 5.9%. Kganyago warned that inflation expectations are increasing, which means that employees will seek higher wage hikes. This will drive inflation even higher. Russia's war in Ukraine is likely to persist for the rest of this year and may have significant further effects on global prices, he warned. "Global producer price and food price inflation continued to surprise higher in recent months and may do so again," he said. By hiking interest rates, the Reserve Bank wants to cool down inflation by suppressing demand in the economy. Importantly, it also needs to keep pace with sharp interest rate hikes in rich countries, particularly the US. If the US hikes rates by more than South Africa, it could destabilise the rand and capital inflows into the country. The high interest rates that foreign investors can earn in rands make local assets more attractive – but rapid US interest rate hikes are eroding that advantage. The rand has already started to weaken in response, breaching R17/$ for the first time since 2020. The US Federal Reserve looks set to hike its key rate by another 75 basis point rate next week, in an effort to subdue inflation. Despite the impact of load shedding and flooding in KwaZulu-Natal earlier this year, the Reserve Bank upgraded its expectation for growth this year to 2.0%, from its previous prediction of 1.7%. But it sharply downgraded its forecast for growth for the following years - to 1.3% in 2023 and by 1.5% in 2024, below the 1.9% for both years it expected in May.

Guest: Kaizer Kganyago - SIU spokesperson  See omnystudio.com/listener for privacy information.

Guest: Kaizer Kganyago - SIU spokesperson  See omnystudio.com/listener for privacy information.

The National Union of Mineworkers says it is highly shocked and surprised by the Reserve Bank Governor Lesetja Kganyago's decision to place Ubank under curatorship. Kganyago cited serious issues that are facing the bank as the reason for the immediate decision to place the bank under curatorship. KPMG has been announced as the curator to recover and take possession of all asserts of Ubank. The bank is popular in the mining sector for providing services to mineworkers. Here is Reserve Bank Governor Lesetya Kganyago explaining the reasons behind the decision to place Ubank under curatorship.

How did Christianity make it onto the African Continent? Who actually brought Christianity to the continent? How do African spirituality and Christianity mix or oppose each other? These are just some of the questions that young people on the African continent are trying to make sense of and in this weeks episode we speak to Solomon Kganyago who is a biblical teacher in a church in Johannesburg. He shares with us the insights of his learning and reading around this topic and helps us to wrestle with some other questions. Ep 39 - Fred Musimi https://thriveinlifeandfaith.wordpress.com/2021/04/29/ep-39-living-out-you-faith-through-transitions-with-fred-musyimi/ Early Christian Writing: http://www.earlychristianwritings.com If you would like to get in touch with Solomon, please feel free to shoot him an email: sollykganyago@gmail.com If you love coffee I have good news for you. You can receive a discount on any of the single origin coffee by using my discount code: FAITH at the checkout. Visit https://goodcup.co.za for more information If you'd like to get in touch with me. Please touch base with me on my website: https://thriveinlifeandfaith.wordpress.com/

"Banyana Banyana's quest to win a record eighth COSAFA Women's Championship title came crashing as they were booted out of the tournament by Malawi 3-2 in the semi-final. The She-Flames will face guests from East Africa, Tanzania in the final on Saturday. iDiski Times football journalist Lethabo Kganyago has been following the tournament throughout and has this report for us.”    

Dumo and Koketso discuss Pauli van Wyk's latest piece where she spills the beans on how Floyd Shivambu received VBS money, the Taliban's recent takeover of Afghanistan which left egg on Biden's face, Kganyago's recent dismissal of quantitative easing and OnlyFans upcoming ban of explicit sexual content and much more. ALL OUR IMPORTANT LINKS

FMF Deputy Director Chris Hattingh highlights the biggest news & economics stories for the week ending 20 August 2021.

IDiski Times Writer Lethabo Kganyago spoke to us about second edition of the SAFA National Women's League. Bundesliga anchor on SABC Sport Sizwe Mbebe spoke to us about the appointment of Julian Nagelsmann as Bayern Munich coach.

Reserve Bank Governor Lesetja Kganyago says that monetary policy has eased financial conditions and improved the resilience of households and business amid the economic implications of Covid-19. The bank announced its decision to keep the repo rates unchanged at 3.5 percent as expected. Delivering the Monetary Policy Committee's decision, Kganyago says monetary policy on its own cannot improve the potential growth rate of the economy or reduce fiscal risks.

South Africa’s plan to revive an economy mired in the longest recession since 1992 will fail unless it deals with structural constraints such as power cuts, central bank Governor Lesetja Kganyago said. A recovery program agreed on earlier this month is banking on the rejuvenation of the energy-intensive mining industry to help counter the devastation wrought on South Africa’s economy by the coronavirus and a lockdown that was imposed to curb its spread. After the economy shrank the most on record in the second quarter, the country was hit by a new wave of electricity outages, known locally as load-shedding, in July. “We experienced electricity load-shedding in an economy that was just starting to open from the virus lockdown," Kganyago said Wednesday in an interview with Johannesburg-based radio station Power FM. “With these structural constraints you can provide all the stimulus you want, but it’s not going to grow the economy.” Kganyago said he has not seen the recovery plan and that it needs to be credible and implementable. President Cyril Ramaphosa has said he’ll release the plan once the cabinet has signed off on it. UNCHANGED RATE Kganyago’s comments come almost two weeks after the monetary policy committee left its benchmark interest rate unchanged at 3.5%, the lowest level since it was introduced in 1998. While the central bank has been criticized by politicians and labor unions that say it should be doing more to support the economy, it has cut the key rate by 300 basis points this year. That’s among the biggest downward moves by global central banks, according to data compiled by Bloomberg. The lockdown to curb the spread of the coronavirus pandemic that’s been in place for six months and shuttered most activity in April and May will contribute to an 8.2% contraction in gross domestic product, according to central bank forecasts. Even with a rebound expected in the third quarter, it will take “roughly up to 2023 to get back to where the economy was in 2017,” Kganyago said. “Even before Covid, this economy had significant structural constraints that we had to deal with as a country.” Africa’s most industrialized economy is stuck in its longest downward cycle since World War II, with the past decade being the worst for growth. Total output expanded by 15.9% between the first quarter of 2010 and the final quarter of 2019, compared with 18.9% and 16.7% in the 1980s and 1990s, according to central bank data.

BizNews — In today's news headlines: * South African Reserve Bank Governor Lesetja Kganyago dismissed suggestions the central bank’s inflation-targeting mandate be broadened and that it undertake quantitative easing to support an economy facing its deepest contraction in almost nine decades. * Wealthy individuals in five African nations including South Africa, Nigeria and Kenya see political instability as a significant threat to the preservation of their assets, a study finds. * PPC, South Africa’s biggest cement maker, is considering a rights issue of about R1.25bn ($71.7m) to refinance both its domestic and international operations, according to people familiar with the matter. * South African coal company Exxaro Resources reported a 40% jump in core earnings due to higher coal exports and a favourable exchange rate offsetting one-off items.

BizNews — In today's news headlines: * South African Reserve Bank Governor Lesetja Kganyago dismissed suggestions the central bank’s inflation-targeting mandate be broadened and that it undertake quantitative easing to support an economy facing its deepest contraction in almost nine decades. * Wealthy individuals in five African nations including South Africa, Nigeria and Kenya see political instability as a significant threat to the preservation of their assets, a study finds. * PPC, South Africa’s biggest cement maker, is considering a rights issue of about R1.25bn ($71.7m) to refinance both its domestic and international operations, according to people familiar with the matter. * South African coal company Exxaro Resources reported a 40% jump in core earnings due to higher coal exports and a favourable exchange rate offsetting one-off items.

BizNews — The Governor of the South African Reserve Bank Lesetja Kganyago has commented on pressure from within the country that the Reserve Bank should do more to bring relief during the Covid-19 pandemic. He said emerging markets like South Africa have limited ability for quantitive easing. Speaking to an online event of the South African Chamber of Commerce in the UK, Kganyago said massive QE is possible for countries like the United States, the United Kingdom, Japan or the European Union because interest rates and inflation were low in these richer countries. He said what he had learnt from the pandemic and its effect on economies, was the importance of buffers, and to build redundancy in both the public and private sectors. The Governor also commented on the sectors most hurt by the pandemic and the measures that the central bank took to provide relief to the economy, which he said would only be felt as the economy reopened. Yesterday, Finance Minister Tito Mbowenii also rebuffed suggestions that the central bank could help plug the deficit hole. Mr Mboweni wrote on Twitter that he was against printing money and wants the South African Reserve Bank to remain independent. - Linda van Tilburg

BizNews — The Governor of the South African Reserve Bank Lesetja Kganyago has commented on pressure from within the country that the Reserve Bank should do more to bring relief during the Covid-19 pandemic. He said emerging markets like South Africa have limited ability for quantitive easing. Speaking to an online event of the South African Chamber of Commerce in the UK, Kganyago said massive QE is possible for countries like the United States, the United Kingdom, Japan or the European Union because interest rates and inflation were low in these richer countries. He said what he had learnt from the pandemic and its effect on economies, was the importance of buffers, and to build redundancy in both the public and private sectors. The Governor also commented on the sectors most hurt by the pandemic and the measures that the central bank took to provide relief to the economy, which he said would only be felt as the economy reopened. Yesterday, Finance Minister Tito Mbowenii also rebuffed suggestions that the central bank could help plug the deficit hole. Mr Mboweni wrote on Twitter that he was against printing money and wants the South African Reserve Bank to remain independent. - Linda van Tilburg

SAfm — The Department of Sports ,Arts and Culture in Limpopo held their Sports Awards in October 2019 but some of the winners are yet to be paid. Banyana defender Lebogang Ramalepe is not yet paid. Guest : Lethabo Kganyago( SABC Sports Reporter) Guest : Lucky Tshilimandila ( MEC Spokesperson)

In celebration of womens month we chilling with the beautiful and talented Lerato Kganyago as she chats about her career, relationship with Katlego Mashego, fall out with Casper Nyovest #Radio, the challenges of being a Female DJ and a game of Picture this

We got an update from Ashwin Willemse's lawyer Nqobizitha Mlilo after it was confirmed that the SA Human Rights Commission will take over his case against SuperSport. We also received some promising news about the health of Phil Masinga from Buddha Mathathe. SABC Sport reporter Lethabo Kganyago gave us details of what happened at Baroka FC trophy parade. Department of Sport and Recreation spokesperson Vuyo Mhaga talked to us about their ministry's stand on SA hosting 2019 Afcon. Lastly we caught up with Kagiso Rabada of Jozi Stars.

The Money Show’s Bruce Whitfield interviews Kganyago about his attitude to money (hopes and fears, successes and failures, etc.).

On the Business of Sport feature, we looked at the business side of the Soweto derby. We were joined by PSL's head of communications Luxolo September, Sowetan Sports Editor Nkareng Matshe and Marketing, Communications Manager at Durban Tourism Sbu Zondi. SABC Sport Reporter Lethabo Kganyago also joined us to help us look at the other TKO semi-final between Bidvest Wits and Baroka FC.

The Capricorn District Municipality executive mayor, John Mpe, says his predecessor, Gilbert Kganyago, was allegedly directly involved in investing public funds in the troubled VBS Mutual Bank. Mpe says that records indicate that Kganyago chaired the mayoral committee meetings which took a decision to invest 60 million rand in VBS between 2015 and 2016. The money was later withdrawn. Jabulani Baloi reports.

Drie sakekwessies wat die afgelope week opslae gemaak het, is Mboweni en die SAL, Kganyago wat wal gegooi het teen populisme en die jongste oor die onteieningskwessie. Sakeliga se webwerf · Sakeliga op Facebook

Maroela Media — Drie sakekwessies wat die afgelope week opslae gemaak het, is Mboweni en die SAL, Kganyago wat wal gegooi het teen populisme en die jongste oor die onteieningskwessie.

Business Of Sport we were discussing Broadcast Rights when it comes to live matches and sporting action. SABC Spokesperson Mr. Kaizer Kganyago and Ms Botlenyana Mokhele from ICASA were our guests. GSport Awards founder Kass Naidoo also joined us to celebrate women in Sport.

SABC Sport Reporter Lethabo Kganyago left Polokwane City Press conference crying following undermining and inappropriate behaviour from Polokwane City Chairman Johnny Mogaladi. She joined us together with PLK City Spokesperson Vusi Ntimane to tell us what went down, A MUST LISTEN. With Germany knocked out of the 2018 WC after group stages we crossed to Berlin to get reaction back at home – Ira Spitzer joined. We also got reaction from Nigeria's Shina Oludare, following the Super Eagles' exit

We opened the show with the 2018 WC first match wrap with Mo Allie. SABC, for the first time enable the Khoi and San communities the opportunity to have the World Cup matches broadcast in the! Xun and Khwe dialect on XK-FM. SABC Spokesperson Kaizer Kganyago joined us to tell us more about this ground breaking move. Our Rising Star of the day was Lungile Ntuli, SA junior Tennis Star. We also heard there NYDA about what they are doing for youth sport development, NYDA National Chairperson Sifiso Mtsweni

Reserve Bank Governor Lesetja Kganyago has been selected to Chair the International Monetary and Financial Committee of the IMF for the next three years. Kganyago will succeed Mexico's Reserve Bank Governor, Agustin Carstens, who resigned from the position last December. Sherwin Bryce-Pease reports...

Labour unions BEMAWU and CWU have vowed to forge ahead with their strike at the SABC on Thursday. Both unions have rejected the SABC's 4-point 5 per cent salary increase, backdated to October this year. The increase would be paid next year. CWU says the salary increase should instead be back dated by nine months. BEMAWU on the other hand wants a 10% salary increase across the board. BEMAWU president Hannes du Buisson says they are prepared to call off the strike if the SABC tables an improved offer. We speak to the SABC Spokesperson, Kaizer Kganyago.

As new technology rapidly transforms the financial services sector, central bankers are faced with mitigating risks without stifling innovation. But In this podcast, South Africa’s Central Bank Governor, Lesetja Kganyago, says inflation, currency depreciation, and political uncertainty remain his biggest challenges. Kganyago joined a panel discussion on what Fintech means for central banking during the 2017 IMF World-Bank Annual Meetings in Washington.   Contributors: Lesetja Kganyago, Governor of the South African Reserve Bank @KganyagoLesetja

Moneyweb Radio — Dawie Roodt – chief economist, Efficient Group.

The Monetary Policy Committee has left the Repo Rate unchanged at 6.75%. South African Reserve Bank Governor, Lesetja Kganyago, today announced the central bank's latest decision on its benchmark repo rate. Kganyago says the Repo Rate and prime lending rate will remain the same. Tsepiso Makwetla spoke to Maudi Lentsoane, who is the Managing Director of Lehumo Investment.

Reserve Bank Governor Lesetja Kganyogo has warned that the reduction in interest rates will not provide a significant stimulus for economic growth. Kganyago says it's unclear where the drivers of growth will come from in the absence of credible structural policy initiatives to reduce uncertainty. The bank reduced rates by 25 basis points, taking the repo rate to 6-point-75 percent. Tshepo Mongoai reports

SABC spokesperson, Kaizer Kganyago says the public broadcaster's editorial policy has to be reviewed as 2004 was some time ago. Speaking to Sakina Kamwendo Kganyakgo said the SABC respects the process.

Reserve Bank Governor Lesetja Kganyago has reminded South Africans that the hiking cycle continues. The bank has increased the repo rate by an agressive 50 basis points to 6.75 percent, as expected by most economists. Kganyago has attributed the hike to the expected deterioration in the bank's inflation outlook due to a weaker rand. Tshepo Mongoai report.

The Public Protector cannot fulfill the constitutional purpose of her office if other organs of State second-guess her findings and ignore her recommendations. That's the ruling made by a full bench of justices of the Appeal Court in Bloemfontein. The ruling follows the application lodged by the SABC, Communications Minister and broadcaster's chief operating officer Hlaudi Motsoeneng. The court dismissed with costs their application against a Public Protector's recommendation that Motsoeneng should be suspended. In the judgement, the court ruled that the Public Protector can implement remedial action.

The Public Protector cannot fulfill the constitutional purpose of her office if other organs of State second-guess her findings and ignore her recommendations. That's the ruling made by a full bench of justices of the Appeal Court in Bloemfontein. The ruling follows the application lodged by the SABC, Communications Minister and broadcaster's chief operating officer Hlaudi Motsoeneng. The court dismissed with costs their application against a Public Protector's recommendation that Motsoeneng should be suspended. In the judgement, the court ruled that the Public Protector can implement remedial action.

Reserve Bank Governor, Letsetja Kganyago, has announced that the bank's repo rate will remain unchanged at 6-per cent and the prime lending rate at 9-point-5 per cent. This is in line with the prediction by most economists. Speaking in Pretoria, Kganyago cited a few concerned which led to the decision. These include a weaker rand and the exchange rate, electricity increases and low domestic growth.

Reserve Bank Governor, Letsetja Kganyago, has announced that the bank's repo rate will remain unchanged at 6-per cent and the prime lending rate at 9-point-5 per cent. This is in line with the prediction by most economists. Speaking in Pretoria, Kganyago cited a few concerned which led to the decision. These include a weaker rand and the exchange rate, electricity increases and low domestic growth.

1. With all the focus on Greece and Chinese markets this week, we haven't really spoken about indicators in the US. What is latest from the Fed and their plan to increase interest rates in the US? 2. At the last local MPC meeting, governor Kganyago gave a stern warning that we should expect local rates to increase sooner rather than later. Do you think that events of the last few weeks may change this? 3.MTN Zakhele announced this week that it is preparing to list on the JSE. How does this compare to the MTN shares that are already listed on the JSE?

Heavily indebted consumers can heave a sigh of relief, as the monetary policy committee decides to keep the repurchase rate unchanged at five point seven five percent. Central bank governor Lesetja Kganyago, announced the decision today, amid concerns of sluggish growth and upside risks to the domestic inflation profile. This is what Kganyago said in his announcement

Residents of the small village of Moletji Ga-Maribana, west of Polokwane, were over-joyed after learning that their fellow villager, Lesetja Kganyago, had been appointed the new Reserve Bank governor. Kganyago's family and neighbours also wished him a happy 49th birthday today. Isaac Murwamuila and Tshepo Mongoai compiled this report…

Another instalment is here. This time Asylum Hour brings a three part package. We have Mr Kganyago & Mr Dwane delivering guest mixes , I'm pretty sure they'll both be well recieved. On the main mix, I've included tracks by Luvless, Detroit Swindle, Scope , Zoo Look, Hans Thalau & Elzhi just to name a few, I hope you'll enjoy what you hear *For track ID, email me at Asylumkbl@gmail.com and I will get back to you. * Facebook Page : Deep House Congress Twitter : http://twitter.com/Episode88 DHC account : http://twitter.com/dhcongress Instagram : @Episode_88 DHC - NOW & FOREVER