No Result
View All Result
Monday, January 30, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telesel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telesel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Rand dips over Gupta row on finance minister job

bycitibusinessnews
March 18, 2016
in Africa, Southern Africa
Share on FacebookShare on TwitterShare on Whatsapp

South Africa’s rand fell early on Thursday after claims that a wealthy family with close ties to President Jacob Zuma may have been behind his decision to sack the country’s respected finance minister Nhlanhla Nene in December.

The opposition called for the resignation of Zuma after Deputy Finance Minister Mcebisi Jonas said late on Wednesday the Gupta family had offered him Nene’s job but that he had rejected it immediately on the grounds that such a move violated South Africa’s democracy.

At 0657 GMT the rand had slipped 0.64% to 15.7400 per dollar, reversing gains triggered by the United States central bank’s decision to keep its lending rates unchanged.

ADVERTISEMENT

Jonas’ claims concerning the Guptas came just as a prolonged row between Finance Minister Pravin Gordhan and the elite Hawks police unit has raised concerns that the run on the rand and bonds seen in December when Nene was fired could be repeated.

Earlier on Wednesday, the rand had slipped to its weakest in more than two weeks over that stand-off.

Bonds were flat in early trade. The benchmark paper due 2026 still hovering around two-week highs at 9.465%.

Gordhan’s confrontation with the police and the claims by Jonas come in the same week that rating’s agency Moody’s was expected to be in the country to decide on whether to downgrade the country’s credit rating, which is two notches above “junk”.

Investors fear further political uncertainty could hasten a downgrade, with Fitch and Standard & Poor’s already rating the country just one step above subinvestment grade.

South Africa’s Reserve Bank decides on interest rates at 1300 GMT, where is expected to keep rates on hold.

Zuma is due to answer questions in parliament on Thursday, and the ruling African National Congress (ANC) is holding a scheduled meeting of its top brass this weekend at which the scandal will be discussed.

“The whale in the room is that the ANC could recall (remove) the president this weekend,” said chief analyst at Rand Merchant Bank John Cairns in a note.

–

Source: Money Web

Related Posts

Africa

$130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

bycitibusinessnews

Vice president Dr. Mahamudu Bawumia has disclosed that Africa will need between US$130 billion and US$170 billion annually to propel...

Read more

Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

Nigeria’s national debt hits an all time as the country struggles with repayment

What does 2023 hold? Predictions in payments for the year ahead for Africa

EIU analysts forecast grim economic outlook for Africa in 2023

AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

Next Post

Algeria's Gas Production Expected to Boom As From 2018

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.