Category: African
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South African Revenue Service Cracks Down On Crypto With New Tax Rules
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In an update shared via the country’s news agency, the South African Revenue Service (SARS) has called on taxpayers to declare their digital currencies and other crypto assets through the Voluntary Disclosure Program (VDP). Given the growing popularity of digital assets such as Bitcoin and Ripple’s XRP among South Africans,…
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South African Revenue Service Cracks Down On Crypto With New Tax Rules
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In an update shared via the country’s news agency, the South African Revenue Service (SARS) has called on taxpayers to declare their digital currencies and other crypto assets through the Voluntary Disclosure Program (VDP). Given the growing popularity of digital assets such as Bitcoin and Ripple’s XRP among South Africans,…
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South African rand jumps as Fed’s Powell signals lower rates By Reuters
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JOHANNESBURG (Reuters) – South Africa’s rand jumped on Friday after comments from Federal Reserve Chairman Jerome Powell suggested an interest rate cut next month. At 1520 GMT, the rand was trading at 17.71 rand to the dollar, up 1.82% from its previous close. “The time has come to adjust policy,”…
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Which African country will host 2040 Olympic Games?
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A century after the last Olympic Games in 1924, the sporting event with ancient Greek roots, revived by the French Baron Coubertin, returns to Paris for the third time in its history. Over two weeks, billions of people from all continents will follow the exploits of the world’s best athletes…
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Macquarie-Backed African Renewables Investor Seeks Fresh Funds
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Breadcrumbs Path Links PMN Business Revigo Fund Management, which runs Africa’s first fund focused primarily on investing in operating renewable energy assets, is seeking new investors as it works towards its eventual listing. Article author: Bloomberg News Anthony Sguazin Published on July 10, 2024 • Read for 2 minutes You…
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South African rand extends losses, focus on unity government’s reforms By Reuters
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JOHANNESBURG (Reuters) – South Africa’s rand extended losses on Tuesday after a turbulent start to the week as markets waited to see how the new national unity government would handle economic reform after forming a cabinet. By 11:31 GMT, the rand was trading at 18.475 against the dollar, down 0.6%…
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South African markets cheer Ramaphosa’s ‘business friendly’ cabinet By Reuters
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Written by Bhargav Acharya and Kopano Gombe JOHANNESBURG (Reuters) – South African assets rose sharply on Monday after President Cyril Ramaphosa formed a long-awaited new government that included the former opposition leader and signaled continuity in fiscal policy by sticking by his former finance minister. But some investors said the…
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South African rand rallies on hope DA and ANC can agree on cabinet posts By Reuters
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JOHANNESBURG (Reuters) – The rand rose in South Africa on Friday amid optimism that the Democratic Alliance and the African National Congress will reach an agreement on ministerial positions, a day after local media reported a major rift between the two parties. At 1503 GMT, the rand reached 18.24 against…
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South African rand drops on reported discord over cabinet posts By Reuters
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Written by Tanwar Anders JOHANNESBURG (Reuters) – The South African rand fell sharply on Thursday after media reports of a major rift between the pro-business Democratic Alliance party and President Cyril Ramaphosa over ministerial positions. At 1527 GMT, the rand was trading at 18.48 against the dollar, down 1.7% from…
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South African rand weakens, focus on cabinet announcement By Reuters
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JOHANNESBURG (Reuters) – The South African rand fell in early trade on Monday, as markets awaited the announcement of President Cyril Ramaphosa’s government after the African National Congress lost its parliamentary majority in last month’s elections, the first time in 30 years. At 0556 GMT, the rand was trading at…
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South African rand edges lower, focus on president’s cabinet picks By Reuters
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JOHANNESBURG (Reuters) – Shares fell in early trade on Thursday, with investors turning cautious ahead of newly re-elected President Cyril Ramaphosa’s cabinet appointments under a unity government. At 0726 GMT, the rand was trading at 17.9850 against the dollar, down 0.15 percent from its previous close. The local currency rose…
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Ramaphosa Reelected as South African President
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Breadcrumb links BMN Business Cyril Ramaphosa has been re-elected as South Africa’s president, hours after the African National Congress agreed to a power-sharing deal with business-friendly opposition parties. Article writer: Bloomberg News Sthembile Cele and Paul Vecchiato Posted on June 14, 2024 • 4 minutes read You can save this…
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How Kamau Thugge’s shilling exploits have earned him African Central Banker fete
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Dr Kamau Thug’s exploits in stabilizing the fluctuating Kenyan shilling led to him being named Central Banker of the Year by African Banker magazine just one year into his tenure at the Central Bank of Kenya (CBK). This recognition comes in the wake of interventions supervised by the Governor of…