Podcasts about Lesetja 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:

Bongani Bingwa speaks with Hillary Joffe, Editor-at-Large at Business Day, as the International Monetary Fund lowers global growth forecasts, warning of a fundamental reset in the global economic system. While Finance Minister Enoch Godongwana projected 1.9% GDP growth for South Africa in 2025, the IMF now expects as little as 1% amid global uncertainty triggered by shifting U.S. trade policies. With South African officials, including Godongwana and SARB Governor Lesetja Kganyago, in Washington for the G20 finance track, global economic stability hangs in the balance. 702 Breakfast with Bongani Bingwa is broadcast on 702, a Johannesburg based talk radio station. Bongani makes sense of the news, interviews the key newsmakers of the day, and holds those in power to account on your behalf. The team bring you all you need to know to start your day Thank you for listening to a podcast from 702 Breakfast with Bongani Bingwa Find all the catch-up podcasts here https://www.primediaplus.com/702/702-breakfast-with-bongani-bingwa/audio-podcasts/702-breakfast-with-bongani-bingwa/ Listen live - 702 Breakfast is broadcast weekdays between 06:00 and 09:00 (SA Time) https://www.primediaplus.com/station/702 Subscribe to the 702 daily and weekly newsletters https://www.primediaplus.com/competitions/newsletter-subscription/  Follow us on social media: 702 on Facebook: http://www.facebook.com/TalkRadio702   702 on TikTok: www.tiktok.com/@talkradio702  702 on Instagram: www.instagram.com/talkradio702  702 on X: www.x.com/Radio702  702 on YouTube: www.youtube.com/@radio702  See omnystudio.com/listener for privacy information.

Die Reserwebank se monetêre beleidskomitee het besluit om die terugkoopkoers onveranderd te hou op 7,5-persent. Dit beteken handelsbanke se prima-uitleenkoers bly 11-persent. Die president van die Reserwebank, Lesetja Kganyago, het op 'n nuuskonferensie gesê die besluit volg weens ekonomiese onsekerheid en inflasierisiko's. Hy sê hoewel inflasie binne die teiken bly, hou internasionale en plaaslike uitdagings steeds bestendigheidsrisiko's in.

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:

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:

ActionSA doen 'n beroep op die president van die Suid-Afrikaanse Reserwebank, Lesetja Kganyago, om die rentekoers met 50 basispunte te verlaag tydens die Monetêre Beleidskomiteevergadering. Dit volg nadat die jongste inflasiedata 'n daling tot 2.8 persent in Oktober getoon het, die vyfde agtereenvolgende daling. Die party waarsku die finansiële nood duur voort, en meer as 35 miljard Suid-Afrikaanse rand is aan pensioene onttrek. Alan Beesley van ActionSA sê lae bruto binnelandse produkgroei en moontlike Eskom-tariefverhogings is groot bekommernisse:

Die Bank van Namibië het 'n hoëvlakvergadering van die sentrale bankbestuurders van die Gemeenskaplike Monetêre Gebied aangebied. Onder voorsitterskap van goewerneur Johannes !Gawaxab, het die vergadering goewerneurs Lesetja Kganyago van Suid-Afrika, Emmanuel Letete van Lesotho en Phil Mnisi van Eswatini bymekaargebring. Die kwartaallikse vergadering het gedien as 'n platform om dringende plaaslike en globale ekonomiese uitdagings aan te spreek. Besprekings het gefokus op die versterking van ekonomiese veerkragtigheid en die bevordering van oorgrens-betalingstelsel-integrasie om bestaande wrywings wat spoed, koste en klante-ervaring beïnvloed, te verminder, terwyl betalingsintegriteit gehandhaaf word. Josefina Oskar, die Bank van Namibië se kommunikasiepraktisyn, gee meer inligting.

Bongani Bingwa speaks to South African Reserve Bank governor Lesetja Kganyago, Standard Bank group CEO, Sim Tshabalala and former National Treasury Director General, Dondo Mogajane as they all pay tribute to the late former minister of finance and former SARB governor Tito Mboweni.  See omnystudio.com/listener for privacy information.

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 Reserwebank se Monetêre Beleidskomitee het die terugkoopkoers op 8,25-persent gelaat. Die president, Lesetja Kganyago, het daarop gewys vier lede het hierdie standpunt gehuldig terwyl twee ‘n verlaging van 25-basispunte voorgestaan het. Oorkoepelende inflasie sal na verwagting laer neig weens laer brandstof- en voedselpryse. Hy het beklemtoon inflasie sal na verwagting stabiliseer op 4,5-persent terwyl die prima-uitleenkoers op 11,75-persent bly.

Klaas Knot, Chair of the Financial Stability Board, President of De Nederlandsche Bank, and member of the ECB Governing Council, and Lesetja Kganyago, Governor of the South African Reserve Bank, discuss the challenges facing the international financial system at the ECB Forum on Central Banking in Sintra, Portugal. Published on 6 July 2024 and recorded on 3 July 2024. 2024 ECB Forum on Central Banking https://www.ecb.europa.eu/press/conferences/ecbforum/html/index.en.html The ECB Podcast: The road ahead: is there room for optimism? https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240627_episode86.en.html The ECB Podcast: Financial Stability in a ChatGPT world https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240517_episode84.en.html European Central Bank https://www.ecb.europa.eu/home/html/index.en.html European Banking Supervision https://www.bankingsupervision.europa.eu/home/html/index.en.html

The governor of the South African Reserve Bank, Governor Lesetja Kganyago, discusses the "one thing" he believes will accelerate South Africa's economic progress with host Bruce Whitfield.See omnystudio.com/listener for privacy information.

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 Africa Reserve Bank Governor Lesetja Kganyago says it is “too early to tell what a discernable trend would be” following the nation's latest inflation data and discusses watching, but not following, the Federal Reserve and negative views impacting the rand. He speaks with Bloomberg's Jonathan Ferro.See omnystudio.com/listener for privacy information.

George Glynos, head of Research at ETM Analytics on Lesetja Kganyago, governor of the South African Reserve Bank (SARB), reiterating his stance on lowering the country's inflation target, stressing its importance in preserving purchasing power. The SARB, under his leadership, is actively pursuing measures to achieve this goal, emphasising the need for sustainable inflation within the target range of 3% to 6%   Carol Paton, editor at large at Business 24 on why Gauteng residents should brace themselves for prolonged water shortages as delays plague the Lesotho Highlands Water Project Phase 2, pushing the timeline for relief to 2029. Political interference and governance issues exacerbate the crisis, leaving millions vulnerable to periodic outages.   Debbie Goodman, CEO of Jack Hammer, chats with host Motheo Khoaripe about her career journey and life philosophy. She also  Jack Hammer Global highlights the shift toward hybrid and fractional work models. Fractional leaders, working part-time within organisations, seamlessly integrate into leadership teams without full-time costs.See omnystudio.com/listener for privacy information.

George Glynos, head of Research at ETM Analytics on Lesetja Kganyago, Governor of the South African Reserve Bank (SARB), reiterating his stance on lowering the country's inflation target, stressing its importance in preserving purchasing power. The SARB, under his leadership, is actively pursuing measures to achieve this goal, emphasising the need for sustainable inflation within the target range of 3% to 6%See omnystudio.com/listener for privacy information.

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.

President Cyril Ramaphosa has reappointed Lesetja Kganyago as the new South African Reserve Bank Governor. The five-year term comes into effect on the 9th of November this year. President Ramaphosa also appointed Deputy Governors Fundi Tshazibana and Rashad Cassim, and the appointment of Dr. Mampho Modise as Deputy Governor. For more on this, Elvis Presslin spoke to the Executive Director and Head of Research for Money, Banking, and Macroeconomics at First Source Money, Redge Nkosi

Lesetja Kganyago, SA Reserve Bank's Governor on the performance of the country's economy.      Pieter Engelbrecht, CEO at Shoprite on its group's sales outpacing the rest-of-market growth in South Africa, as its core business segment sales surged by 14.6%, reflecting an extra R12.4 billion in customer spending compared to the previous year.    On personal finance, Warren Ingram, co-founder of Galileo Capital on money and happiness. And whether your age and your money make you happy.See omnystudio.com/listener for privacy information.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. Finance Minister Enoch Godongwana unveiled a far-reaching reform in relation to government's treatment of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA), which will result in R150-billion in drawdowns from the account over the coming three years to reduce government borrowings. The settlements will be in three tranches, including R100-billion in 2024/25 and R25-billion apiece in the subsequent two financial years, and the proceeds will help reduce government's gross borrowing requirement from R553.1-billion in 2023/24 to R428.5-billion in 2026/27. The distributions will also reduce debt-service costs by R30.2-billion over the coming three years, when compared with the estimate outlined in the 2023 Medium Term Budget Policy Statement (MTBPS). GFECRA is an account held at the South African Reserve Bank (SARB) and captures losses and profits on foreign currency reserve transactions and protects the bank from currency volatility. Several economists have been urging the National Treasury to consider using the account to avert a debt crisis, given a surge in borrowings in recent years amid an increasingly distressed tax base, and persistently low growth. The National Treasury revised South Africa's 2023 growth down to 0.6% and forecast growth of only 1.3% for the current year. Research and consultation regarding the GFECRA have been under way for a number of months, but it was not clear ahead of the Budget whether these had progressed to a point where the account could be employed to support the national finances. When the rand depreciates, as it has done consistently since about 2011, the balance in the account improves, with balances in favour of the SARB having surged from R28-billion in 2023 to R507.3-billion in January 2024. Under a proposed settlement agreement, which was being formalised between the National Treasury and the SARB, a portion of the valuation gains will be drawn down over the coming three years to reduce borrowings. Godongwana also tabled legislation along with his Budget documents outlining an amendment to the Gold and Foreign Exchange Contingency Reserve Account Defrayal Act, 2003, to give effect to the drawdowns. To make the R150-billion available to the National Revenue Fund, R250-billion of the GFECRA funds will be employed, with R100-billion to be directed towards the SARB to cover interest-rate sterilisation costs that will arise as a result of increased liquidity. SARB governor Lesetja Kganyago described it as a complex arrangement that had arisen following intense conversations between the central bank and the National Treasury, and stressed that it was not cost-free, as could be seen by the R100-billion set aside for the SARB over the medium term. The proposed settlement agreement between the National Treasury and the SARB, meanwhile, would also establish a new framework for the treatment of the GFECRA, which the National Treasury insisted would continue to protect the bank and was in line with "peer norms". The Budget Review indicates that framework will allocate valuation gains across three "buckets", with the first bucket retaining sufficient funds to absorb exchange rate swings. "Once this arrangement has been fulfilled, funds will be distributed to the second bucket, a Reserve Bank contingency reserve, to ensure the central bank's solvency and to pay sterilisation costs to neutralise the interest-rate impact. "Once the first two obligations have been settled, funds will be distributed to the National Treasury," the Budget Review states. NEW FRAMEWORK The reform is guided by principles developed in consultation between the National Treasury, the SARB and international experts, including that any GFECRA distributions be governed by a clear and transparent framework that prevents ad hoc drawdowns, as well as that the proc...

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. Finance Minister Enoch Godongwana unveiled a far-reaching reform in relation to government's treatment of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA), which will result in R150-billion in drawdowns from the account over the coming three years to reduce government borrowings. The settlements will be in three tranches, including R100-billion in 2024/25 and R25-billion apiece in the subsequent two financial years, and the proceeds will help reduce government's gross borrowing requirement from R553.1-billion in 2023/24 to R428.5-billion in 2026/27. The distributions will also reduce debt-service costs by R30.2-billion over the coming three years, when compared with the estimate outlined in the 2023 Medium Term Budget Policy Statement (MTBPS). GFECRA is an account held at the South African Reserve Bank (SARB) and captures losses and profits on foreign currency reserve transactions and protects the bank from currency volatility. Several economists have been urging the National Treasury to consider using the account to avert a debt crisis, given a surge in borrowings in recent years amid an increasingly distressed tax base, and persistently low growth. The National Treasury revised South Africa's 2023 growth down to 0.6% and forecast growth of only 1.3% for the current year. Research and consultation regarding the GFECRA have been under way for a number of months, but it was not clear ahead of the Budget whether these had progressed to a point where the account could be employed to support the national finances. When the rand depreciates, as it has done consistently since about 2011, the balance in the account improves, with balances in favour of the SARB having surged from R28-billion in 2023 to R507.3-billion in January 2024. Under a proposed settlement agreement, which was being formalised between the National Treasury and the SARB, a portion of the valuation gains will be drawn down over the coming three years to reduce borrowings. Godongwana also tabled legislation along with his Budget documents outlining an amendment to the Gold and Foreign Exchange Contingency Reserve Account Defrayal Act, 2003, to give effect to the drawdowns. To make the R150-billion available to the National Revenue Fund, R250-billion of the GFECRA funds will be employed, with R100-billion to be directed towards the SARB to cover interest-rate sterilisation costs that will arise as a result of increased liquidity. SARB governor Lesetja Kganyago described it as a complex arrangement that had arisen following intense conversations between the central bank and the National Treasury, and stressed that it was not cost-free, as could be seen by the R100-billion set aside for the SARB over the medium term. The proposed settlement agreement between the National Treasury and the SARB, meanwhile, would also establish a new framework for the treatment of the GFECRA, which the National Treasury insisted would continue to protect the bank and was in line with "peer norms". The Budget Review indicates that framework will allocate valuation gains across three "buckets", with the first bucket retaining sufficient funds to absorb exchange rate swings. "Once this arrangement has been fulfilled, funds will be distributed to the second bucket, a Reserve Bank contingency reserve, to ensure the central bank's solvency and to pay sterilisation costs to neutralise the interest-rate impact. "Once the first two obligations have been settled, funds will be distributed to the National Treasury," the Budget Review states. NEW FRAMEWORK The reform is guided by principles developed in consultation between the National Treasury, the SARB and international experts, including that any GFECRA distributions be governed by a clear and transparent framework that prevents ad hoc drawdowns, as well as that the proc...

With the years of access to cheap money behind them and the effects of climate change and geopolitical tensions only getting worse, what does resilience look like for emerging market economies? This year's Per Jacobbson lecture brings together three influential thinkers to discuss how countries can work towards economic resilience in an era of greater uncertainty. The talk features Lesetja Kganyago, Governor of the Reserve Bank of South Africa, Masood Ahmed, President of the Center for Global Development, and is moderated by Guillermo Ortiz, former Governor of the Bank of Mexico.

The Reserve Bank's kept the repo rate unchanged at 8.25%, for the first since late 2021. Reserve Bank governor Lesetja Kganyago says this was not the end of the hiking cycle. Business Day TV unpacked the decision with Dawie Roodt, Chief Economist at Efficient Group.

Koketso Mano, senior economist at FNB on June's CPI data and what it means for SARB's decision on interest rates.    Andrew Middleton, CEO of  GoSolr on African Rainbow Capital acquiring a minority stake in the company.  Then Rui Morais, CEO of Dis-Chem was our shapeshifter. He spoke about his career journey as well as plans he has for the retail pharmacy.See omnystudio.com/listener for privacy information.

Guest: Koketso Mano| Senior Economist at FNBSee omnystudio.com/listener for privacy information.

The Governor of the Reserve Bank, Lesetja Kganyago has been quoted everywhere in the media over the past week or so. There is a repo rate decision around the corner and according to the media he said things like the Reserve Bank hopes the inflation rate will fall further in the second half of the year. Also, that interest rate hikes will end, but he didn't say when. The question is, what do we hear when the Reserve Bank speaks? This episode is supported by the NWU Business School. Errors and omissions are my own.

Die Goewerneur van die Reserwebank, Lesetja Kganyago was die afgelope week of wat oral in die media aangehaal. Daar is ʼn repokoersbesluit om die draai en volgens die media het hy dinge gesê soos die Reserwebank hoop die inflasiekoers gaan in die tweede helfte van die jaar verder daal. Ook dat rentekoersstygings gaan eindig, maar hy het nie gesê wanneer nie. Die vraag is, wat hoor ons wanneer die Reserwebank praat? Hierdie episode word ondersteun deur die NWU Sakeskool. Foute en weglatings is my eie.

Peter Attard Montalto, managing director at Intellidex on SA's lack of planning around the mitigation of load-shedding.    Lesetja Kganyago, governor at SA Reserve Bank on the confusion around the Xitsonga spelling of The Reserve Bank on the new R100 banknote.    Then investment School Chantal Marx, head of equity research at FNB Wealth and Investments explained the danger of only holding “low risk” investments in the context of high inflation and a weak ZAR.See omnystudio.com/listener for privacy information.

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.

Interest rates are now at their highest level since 2016 after the South African Reserve Bank hiked rates by 75 basis points, for the third meeting in a row. Three members of the monetary policy committee voted in favour of the 75 basis point hike, while two wanted a 50 basis point increase. The move brings the repo rate to 7%, and the prime rate to 10.5%. On a new home loan of R2-million at the prime rate, the latest increase hikes the monthly installment by around R1 000. Since November last year, monthly payments on a R2-million home loan are almost R4 500 more expensive due to a raft of rate hikes. The latest rate hike was in line with economists' expectations. On Thursday, Governor of the SA Reserve Bank, Lesetja Kganyago, warned of high inflation and weak economic growth. The monetary policy committee expects the headline inflation rate to remain above its maximum target rate of 6% until the second quarter of 2023. Headline inflation is only expected to "sustainably revert" to the mid-point of the target range (4.5%) by around the second quarter of 2024. Economists expect that rates will only be lowered when inflation reaches this level. The Reserve Bank is under pressure to hike rates to cool inflation – but also to protect the rand's value. Higher interest rates appeal to foreign investors, who are on the hunt for good returns. South Africa needs foreign inflows of money to keep the rand stable, and local interest rates have been attractive for many years compared to other countries. But over recent months, other countries – particularly the US – have hiked their rates aggressively to subdue inflation. South Africa cannot afford to be left behind. On Thursday, the rand was trading at its best level in months. However, the sharp hike in interest rates will heap more pain on the embattled South African economy and consumers, who are already struggling with sky-high fuel and food prices and record load shedding.

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

Lord Peter Hain, British politician & anti-apartheid fighter and Jason Borbora-Sheen, portfolio manager at Ninety-One dissect the UK's prime minister, Liz Truss' resignation and how the market received the news.      Lesetja Kganyago, governor at Reserve Bank on his recent IMF meetings — fighting inflation and the economy. Meanwhile, Eugen Du Toit, head of regulatory framework department at the FSCA on their reasons for declaring crypto assets as a financial product and how it will work in the country.       Warren Ingram, personal financial advisor and executive director at Galileo Capital explains four key factors to financial success in retirement.See omnystudio.com/listener for privacy information.

Terwyl Namibiërs die ergste verwag wanneer die sentrale bank op 19 Oktober die rentekoers bekendmaak word die Suid-Afrikaanse Reserwebank daarvan beskuldig dat hy nie in ag geneem het inflasie in die buurland begin daal nie. Die bank het aangekondig die terugkoopkoers word met 75 basispunte tot 6,25 persent verhoog. Die president van die sentrale bank, Lesetja Kganyago, sê inflasie, wat op 7,6 persent staan, is steeds 'n groot bekommernis. Mervyn Abrahams van die Pietermaritzburgse Economic Justice and Dignity Group, glo die koers sal 'n swaar las op verbruikers wees wanneer inflasie verder daal:

Die hoof-ekonoom van FNB in Suid-Afrika, Mamello Ngwenya, sê die verhoging in die terugkoopkoers was te wagte. Die president van die Reserwebank, Lesetja Kganyago, het die koers met 75 basispunte verhoog. Ngwenya sê die verhoging sal verbruikers op verskillende maniere raak, afhangende van inkomstevlakke:

Interest rates are back at pre-pandemic levels after the Reserve Bank hiked rates by 75 basis points, for a second meeting in a row. Three members of the monetary policy committee voted in favour of the 75 basis point hike, while two wanted a 100 basis point increase. The move brings the repo rate to 6.25%, and the prime rate to 9.75%. On a new home loan of R2-million, this hikes the monthly instalment by more than R970. Since November last year, monthly payments on a R2-million home loan are almost R3 400 more expensive due to a raft of rate hikes. The latest rate hike was in line with economists' expectations, and brings interest rates back to a level last seen in January 2020, before the Reserve Bank made steep cuts to bolster an economy in lockdown. On Thursday, Governor of the SA Reserve Bank, Lesetja Kganyago, said risks to the inflation outlook are assessed to the upside. "While global producer price and food inflation have eased, Russia's war in the Ukraine continues, with adverse effects on global prices. Oil prices increased strongly from the start of the war, to around US$130 per barrel, and may rise again from today's level as stresses in energy markets intensify. Electricity and other administered prices continue to present clear medium-term risks." While the rate hikes will heap more pain on a distressed South African economy, the bank is under pressure to keep up with jumbo interest rate hikes in other countries, especially in the US, where rates were hiked by 75 basis points on Wednesday. Global central banks are scrambling to hike interest rates amid an inflation shock, triggered by the invasion of Ukraine along with supply chain shocks and a labour shortage. South Africa cannot afford to be left behind when it comes to rate hikes, otherwise the rand and local assets like bonds will lose their appeal to foreign investors, who are on the hunt for good returns. Foreign inflows are crucial to keep the rand stable. A stable rand is key to inflation, as South Africa imports almost all its oil, which is priced in dollars. The rand is currently taking a lot of strain as the dollar is bolstered by aggressive US rate hikes. It is currently close to R17.80/$, after starting the year below R16. The Reserve Bank also needs to send a clear signal that it wants to tame inflation. There is still one more monetary policy committee meeting left, in November. Economists expect another rate hike – even though inflation may have peaked. In August, consumer inflation cooled slightly, to 7.6% from 7.8% in July, thanks mostly to lower fuel prices. Some economists forecast another hike in January, with Jeff Schultz, senior economist at BNP Paribas South Africa, expecting that the repo rate will peak at 7.00% in January 2023.

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.

Die EFF se adjunkpresident, Floyd Shivambu, beskuldig die Suid-Afrikaanse Reserwebank dat hy president Cyril Ramaphosa probeer beskerm oor die rooftog by sy Phala Phala-plaas in Limpopo. 'n Aantal partye wil hê die Reserwebank moet ondersoek instel of Ramaphosa enige valutabeheermaatreëls oortree het aangesien die gesteelde geld Amerikaanse dollars was. Die bank se goewerneur, Lesetja Kganyago, sê dit sal die voortgaande ondersoek belemmer indien hy oor die saak kommentaar lewer. Shivambu sê Ramaphosa oortree die landswette:

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: Kevin Lings | Chief Economist at Stanlib  See omnystudio.com/listener for privacy information.

The governor of the central bank Lesetja Kganyago on South Africa's ailing economy and their inflation targeting policy. Matete Thulare, head of FX Execution at RMB on the rand weakening against the dollar as data showed that US inflation quickened in May. Prof. Mcebisi Ndletyana, politics lecturer at the University Of Johannesburg talks about his relationship with money See omnystudio.com/listener for privacy information.

Banking analyst Kokkie Kooyman looks forward to the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) decision on interest rates. Central bankers globally have lowered interest rates to unprecedented low levels in response to the devastating effects of the pandemic on the economy. The low interest rate environment has been a tailwind for business and consumer confidence but, coupled with supply constraints and quantitative easing in many parts of the world, has led to inflationary pressures. This is causing a reaction in many central banks, including the South African Reserve Bank, which – according to Bloomberg – is expected to hike rates 25 basis points. This means the repo rate will increase from 3.5% to 3.75%. Kooyman analyses the net-positive effect this will have for many of the local banks. He says the banks' shares look attractive at these levels, given the higher interest rate environment forecasted over the next three to five years. 

Today's Daily Friend with Nicholas Lorimer, Marius Roodt and Hermann Pretorius. Discusses comments made by reserve bank governor Lesetja Kganyago, a national day of action by COSATU, Illegal mining and a malaria vaccine. Subscribe on Google Podcasts · Subscribe on Apple Podcasts · Subscribe on Spotify

The Reserve Bank's monetary policy committee announced this afternoon that the repo rate and therefore the prime rate will remain unchanged. This is after August's consumer price inflation increased slightly to 4.9%, above the midpoint of the inflation target range of 3 to 6%. The governor, Lesetja Kganyago, made some important points.

Die Reserwebank se monetêre beleidskomittee het vanmiddag aangekondig dat die repokoers en dus die primakoers onveranderd bly. Dit is na Augustusmaand se verbruikersprysinflasie effens gestyg het tot 4,9%, bo die middelpunt van die inflasiemikpunt van 3 tot 6%. Die goewerneur, Lesetja Kganyago het ʼn paar belangrike punte gemaak.

With last week's episodes on the GDP figures and economic growth, there was no chance to talk about the inflation target. The Governor of the Reserve Bank, Lesetja Kganyago, said in a speech that the target band of 3-6% could be replaced by a single point target of 3 or 4%. A margin of plus and minus 1 percentage point can be allowed. He argued that the target could be lowered with the cooperation of the various public sector role players who set administered prices.

Met verlede week se episodes oor die BBP syfers en ekonomiese groei was daar nie kans om te praat oor die inflasiemikpunt nie. Die Goewerneur van die Reserwebank, Lesetja Kganyago, het in ʼn toespraak gesê dat die mikpuntband van 3-6% vervang kan word deur ʼn enkele puntteiken van 3 of 4%. Daar kan wel ʼn marge van plus en minus 1 persentasiepunt toegelaat word. Hy het die argument gemaak dat die teiken laer gemaak kan word met die samewerking van die verskillende rolspelers in die openbare sektor wat geadministreerde pryse vasstel.

Offshore / PayPal announced plans to buy Japanese "Buy Now, Pay Later" BNPL company Paidy Inc. for $2.7B / US judge rule against Apple and in Epic Games favour in antitrust lawsuit; judge says Apple's conduct in enforcing anti-steering restrictions is anticompetitive / China Evergrande Group default risk ($300bn) / U.S. Senate Democrats float stock buyback tax as part of $3.5 trillion bill / The World's Shippers Are Earning The Most Money Since 2008 Local / Local Q2 GDP, we're 1.4% below pre-pandemic levels / SARB governor Lesetja Kganyago suggests we work towards a 3% inflation target, with a 2-4% tolerance range / FSCA fines Viceroy R50m / Result; Shoprite / Results; Momentum / Results; Bidvest

Die Suid-Afrikaanse Reserwebank se Goewerneur, Lesetja Kganyago, sê die buurland se ekonomie sal na verwagting herstel toon ná die rekord-inkrimping van 51 persent in die tweede kwartaal. Maar hy meen die inkrimping is so groot dat net groei van so ‘n lae basis moontlik is. Herstel behoort eers werklik in 2022 voor te kom.

30 nuwe spesies van ongewerwelde diere is in die see by die Galapagos eiland groep gevind.; Die president van die Reserwe Bank, Lesetja Kganyago, sê die bank het in 'n ongekende manier reageer om die uitwerking van die Covid-19 pandemie te versag.; en die vraag na olifantmis het die afgelope tyd in Namibië die hoogte ingeskiet ná gerugte dat dit Covid-19 kan genees.

BizNews — Lesetja Kganyago, governor of the reserve bank set out the risks for the rand at a webinar for the Cape Town Press Club. The SA Reserve Bank Governor told the Cape Town Press Club that he thinks fixing the SA economy doesn’t require a careful rethink - government just needs to get on with implementing plans. He also set out his views on the risk to the rand.

BizNews — Lesetja Kganyago, governor of the reserve bank set out the risks for the rand at a webinar for the Cape Town Press Club. The SA Reserve Bank Governor told the Cape Town Press Club that he thinks fixing the SA economy doesn’t require a careful rethink - government just needs to get on with implementing plans. He also set out his views on the risk to the rand.

BizNews — In today's news headlines: * Elon Musk, South Africa born founder of Tesla, is among the world's wealthiest, after the Tesla stock price soared. * Apple is now worth $2trn. * MTN has a new boss. * As banks are set to report a plunge in profits, the South African Reserve Bank governor, Lesetja Kganyago, has said the banking sector is in good shape and has too much liquidity.

BizNews — In today's news headlines: * Elon Musk, South Africa born founder of Tesla, is among the world's wealthiest, after the Tesla stock price soared. * Apple is now worth $2trn. * MTN has a new boss. * As banks are set to report a plunge in profits, the South African Reserve Bank governor, Lesetja Kganyago, has said the banking sector is in good shape and has too much liquidity.

Business Day TV — South Africa's reserve bank governor Lesetja Kganyago has warned that rolling out a full-blown quantitative easing programme could lead to bankrupting the Sarb which in turn would mean that the Sarb would need a bailout from the National Treasury. Business Day TV caught up with RMB's SA Economist Siobhan Redford for her assessment of the situation.

Moneyweb Radio — Professor Raymond Parsons - ekonoom en dosent, Noordwes Universiteit se Sakeskool

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

Kosmos 94.1 — Die Goewerneur van die Suid-Afrikaanse Reserwebank, Lesetja Kganyago, sê inflasie is onder beheer hoofsaaklik danksy die tuimelende olieprys. Dit is een van die redes hoekom die terugkoopkoers gister op 3,75 persent vasgestel is. ‘n Portefeuljebestuurder van Kruger Internasionaal, Hein Kruger, sê dis goeie nuus vir verbandhouers, maar hulle moet nou goeie toekomsbesluite neem eerder as om op die meevaller staat te maak.

Not only is the coronavirus (COVID-19) now a global pandemic as declared by the World Health Organization (WHO), it has also disrupted life as we know it globally. As many countries around the world have announced various measures to try and "flatten the curve," some people are faced with uncertainty over where their next income cheque will come from. Freelancers, small businesses, and self-employed people are some of the categories of people around the world who are about to be severely be affected by the many restrictions and lockdowns that are being implemented by various countries. This will even be more felt in countries like South Africa where not much financial relief is expected to be announced by governments for these categories of people. As such, for this bonus episode I caught up with Thabo Ngcangiso (Thiza), a property deal maker by profession (he's also a podcaster with the following podcasts under his belt: Property Khona - real estate related, and the No Hidden Agenda podcast - hip hop related), to hear what financial advice he has for freelancers, small businesses, and self-employed people. Although some of the advice is South Africa specific, the bulk of it is applicable to anyone around the world. Later in this bonus episode, Itumeleng Mojaki, a Money Market Portfolio Manager for one of the best black owned investment funds in South Africa, joins the discussion as he offers some tips and options to the Finance Minister, Tito Mboweni, and the South African Reserve Bank governor, Lesetja Kganyago, on some of the measures they should look at implementing to navigate these uncertain times but more importantly to ensure the well-being of South African citizens is taken care of.

All eyes are on the South African Reserve Bank TODAY as governor Lesetja Kganyago is expected to announce further cuts in the interest rate and possibly announce new measures to cushion the economy amid the covid-19 pandemic. Threats to the slow-growing economy have also been hampered by the weakening South African rand against world currencies. Opposition parties such as the DA have meanwhile called for a four month suspension by the banking sector on mortgages, car and business loan repayments.

Simon Shares Shoprite* (JSE code: SHP) results a show of many parts. Locally second half much better after the disaster of the first half. Rest of Africa swings into a R265million loss after making R1.6billion in 2016 FY. Dischem (JSE code: DCP) below 2000c. Was always way over valued but still on a PE of over 20x so not yet cheap. AdvTech* (JSE code: ADH) decent trading update. Lots of moving parts, but stripping that all out leaves HEPS +5% - +9% up and on a PE of under 15x much cheaper than Curro (JSE code: COH) and Curro no longer has the tertiary segment which is doing better than schools right now. Trump has delayed the new China tariffs because this could hurt the US consumer in the yearend shopping season. But in the same breath he says China is paying the tariffs? The man is a nut job. Local CPI came in at 4%, below previous of 4.5% and expected at 4.3%. Simply there is no inflation in the system right now and another rate cut from the MPC is surely assured as we move even lower below the 4.5% mid point of the range? Top40 is still green for the year. Off the +11% from earlier, but it's still +5.1% excluding dividends. But it fells like we're down 100%. That all said, over the last year Top40 is 8.8% excluding dividends. ETFs for investing and retirement. Dividend ETFs. * I hold ungeared positions. Subscriber to our feed here Sign up for email alerts as a new show goes live Is an IMF bailout really imminent? "The IMF's primary mission is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other." (source) Upon the founding of the IMF, its three primary functions were: to oversee the fixed exchange rate arrangements between countries, thus helping national governments manage their exchange rates and allowing these governments to prioritize economic growth, and to provide short-term capital to aid the balance of payments. (source) Lots of hype (hysteria?) about an IMF bailout for South Africa with all sorts of talking heads weighting in suggesting it is a certainty. But an IMF bailout is not happening any time soon, the facts are simple and we're a long way off even entering talks about a bailout. Now sure our economy and stock market are both under pressure but the IMF cares nothing about the latter and the former is struggling but it is a long way from a death spiral. Our government debt is +/-90% in Rands, so currency weakness does not kill our debt burden, whereas foreign currency debt kills when the currency weakens. Tis is a big reason for most bailouts and it is simple not a risk for us. Our Balance of Payments (BoP) is fine at some 4-5 months. Now sure more would be better, but that is not anywhere near a crisis. When Pakistan got their recent bailout BoP was down to a few days. Our currency is fairly stable, certainly it is not crashing Bottom line, we're not seeing capital flight so no IMF bailout waiting in the wings. So why are we seeing all sorts of hysteria headlines saying an IMF bailout is practically a certainty when it patently is not? Also, why the fear from market friendly economists and the like? All these economists who criticise government for not being market friendly enough would surely love the IMF market friendly conditions for a bailout? Or are they practising double speak? Both the in country IMF head (Montfort Mlachila) and our own SARB governor (Lesetja Kganyago) state that it is not currently on the table. Now sure, 'currently not on the table' can change. But which of the above will trigger the change? What else could trigger the change? Short answer is Eskom, but there are plenty of balance sheet / debt options for Eskom and minister Mboweni says we'll have details soon. JSE – The JSE is a registered trademark of the JSE Limited. JSE Direct is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.  

Investec — In a week of economic and political turmoil, Governor of the South African Reserve Bank, Lesetja Kganyago made it very clear that the sole mandate of the central bank was to maintain price stability.

Investec — In a week of economic and political turmoil, Governor of the South African Reserve Bank, Lesetja Kganyago made it very clear that the sole mandate of the central bank was to maintain price stability.

In Washington yesterday, South African Reserve Bank governor Lesetja Kganyago re-iterated the argument for an independent central bank, describing it as a shield against bad political leadership. The chief executive of the world’s biggest asset manager predicts global stock markets are poised for what he calls a “melt-up” as signs of economic health in the US and China encourage investors back into the markets. The share price of embattled tech business EOH yesterday surged on heavy trading volumes as investors gave a thumbs up to its decision to shed R1bn of non-core businesses and investments. The recent strength of South African share prices was evident again yesterday with the overall index gaining more than 1% with buying focus shifting this time to telecoms stocks. 

LONDON — The question being asked by economists tonight is whether Finance Minister Tito Mboweni has managed to avoid a ratings downgrade by Moody’s. At the news conference before the budget speech, Reserve bank governor, Lesetja Kganyago said the banking system had planned for this scenario and that the system will be able to withstand a downgrade, while Minister Mboweni said the conversations with the ratings agencies were difficult, but he believed the practical steps taken by the Government should be seen as positive. - Linda van Tilburg

LONDON — The question being asked by economists tonight is whether Finance Minister Tito Mboweni has managed to avoid a ratings downgrade by Moody’s. At the news conference before the budget speech, Reserve bank governor, Lesetja Kganyago said the banking system had planned for this scenario and that the system will be able to withstand a downgrade, while Minister Mboweni said the conversations with the ratings agencies were difficult, but he believed the practical steps taken by the Government should be seen as positive. - Linda van Tilburg

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

The Reserve Bank's Monetary Policy Committee has decided to hike the repo rate by 25 basis points citing the rising inflation outlook in the longer term due to administered prices. Delivering the committee's decision, Reserve Bank governor Lesetja Kganyago warned that the longer term inflation outlook remains elevated.

The Monetary Policy Committee (MPC) has cut the repo rate by 25 basis points. Reserve Bank Governor, Lesetja Kganyago says this decision was taken in light of the improved inflation outlook. Earlier on we spoke to Market Analyst at Absa Wealth and Investment Management, Tsitsi Hatendi-Matika, who says it is too early to celebrate this cut

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...

Reserve Bank Governor, Lesetja Kganyago has been selected as Chairman of the Committee at the International Monetary and Financial Committee(IMFC). Tsepiso Makwetla our reporter In New York Sherwin Bryce-Pease...

The Monetary Policy Committee (MPC) has left the repo rate unchaged at 6-point-75 per cent. This, despite market expectation for a rate cut. Reserve Bank Governor, Lesetja Kganyago says two main inflation risks featured during the MPC meeting namely, prospects of a sovereign credit downgrade and international oil prices. Tsepiso Makwetla spoke to Nedbank Economist, Busisiwe Radebe

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

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 Kganyago has announced that the repo rate will drop by a quarter of a percentage point to 6.75%. This means the prime lending rate drops to 10.5%. Some economists had speculated that the Reserve Bank would drop rates. Tsepiso Makwetla spoke to by Gina Schoeman Economist at Citi Bank.

President Jacob Zuma says he has met with Finance Minsiter, Malusi Gigaba, SARS Commissioner, Tom Moyane and Reserse Bank Governor, Lesetja Kganyago to discuss the recent downgrades by Standard and Poor's and Fitch rating agencies. Last week, the two rating agencies downgraded South Africa to non-investment grade, this as result of the cabinet reshuffle. Earlier I Spoke of Senior Director & Head of Middle East and African sovereigns at Fitch Ratings, Jan Friederich..

South Africa's central bank Governor Lesetja Kgan…

Safaricom to launch Uber rival taxi app service, Nigeria can earn $100bn annually from non-oil sector – Awolowo, Easing inflation gives Lesetja Kganyago a little more wiggle room, Govt scraps porting fees for mobile phone users, US, Indian refiners shun Nigeria’s oil amid outages, Poor economy fuelling protests and criticism, says ANC, Tiger says exit from Ethiopia does not signal a retreat from the rest of Africa, NNPC lost N19.43bn in April – Report --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/africanperspective/support

Safaricom to launch Uber rival taxi app service, Nigeria can earn $100bn annually from non-oil sector – Awolowo, Easing inflation gives Lesetja Kganyago a little more wiggle room, Govt scraps porting fees for mobile phone users, US, Indian refiners shun Nigeria’s oil amid outages, Poor economy fuelling protests and criticism, says ANC, Tiger says exit from Ethiopia does not signal a retreat from the rest of Africa, NNPC lost N19.43bn in April – Report --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Safaricom to launch Uber rival taxi app service, Nigeria can earn $100bn annually from non-oil sector – Awolowo, Easing inflation gives Lesetja Kganyago a little more wiggle room, Govt scraps porting fees for mobile phone users, US, Indian refiners shun Nigeria's oil amid outages, Poor economy fuelling protests and criticism, says ANC, Tiger says exit from Ethiopia does not signal a retreat from the rest of Africa, NNPC lost N19.43bn in April – Report --- Send in a voice message: https://anchor.fm/africabusinessnews/message Support this podcast: https://anchor.fm/africabusinessnews/support

Reserve Bank Governor, Lesetja Kganyago, has announced that the repo rate will remain unchanged at seven percent. This means that the prime lending rate remains steady at 10 point five percent. The move had been widely expected following Stats SA's announcement of better than expected inflation data. CPI slowed year on year to six point two percent in April. However Kganyago has voiced concern about the expected increases in food and fuel prices in the coming month. Ike Phaahla speaks to Ian Cruickshanks, Chief Economist at the South African Institute of Race Relations.

Highly-indebted South Africans are in for a tough year ahead. The Reserve Bank has increased the cost of borrowing by a cumulative 200 basis points since 2014 to tame rising inflation. The bank increased interest rates by 25 basis points to 7 percent yesterday (17/03/16). This has pushed the prime interest rate up to 10,5 percent. The bank's governor Lesetja Kganyago expects higher interest rates to help in slowing the pace of inflation. Tshepo Mongoai reports…

S Africa bank chief rules out defence of the rand South Africa’s rand hit all time lows against the dollar this week as currency turmoil swept across emerging markets. Andrew England, the FT's Southern Africa bureau chief, spoke to Lesetja Kganyago, the central bank governor, about how he viewed the current market volatility. See acast.com/privacy for privacy and opt-out information.

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…