Ghana: The Ghanaian Finance Ministry yesterday announced that the government’s pension fund debt exchange had closed with a 95% participation rate, while the USD-denominated bonds exchange had closed with a participation rate of around 92%. Pension funds have agreed to exchange GHS29.6bn (cUSD2.6bn) of the GHS31bn existing bonds for two new notes with maturities in 2027 and 2028. The average rate on the old instruments was 18.5%, whereas the new notes will pay a total 21% coupon. Bloomberg, citing the finance ministry, reported that the higher coupon rate is to ensure that the special restructuring does not result in any financial…
Author: Thandile Thobela
While the role of women in society continues to evolve, so does the need for them to be exposed to financial planning resources that will allow them to fend for and protect their families accordingly. Women are forecast to live longer, according to the World Health Organisation. The life expectancy for men increased to just over 60 years and over 68 years for women. While the extra number of years is great for the women and their loved ones, it also brings about the reality that one needs to consider how they live and provide for those extra years. “While…
Addressing the Global Digital Divide Today, the global digital divide persists, with around 1 billion households without fixed broadband, and projections indicating that approximately 30% of households worldwide may still lack broadband connectivity by 2028, according to an Ericsson analysis. At the same time, 3GPP technologies, including LTE and 5G, are poised to offer extensive coverage, reaching over 95% of households globally for LTE and around 85% for 5G by 2028. This widespread household coverage presents a unique avenue for mobile operators to deliver Fixed Wireless Access (FWA) services on top of their existing Mobile Broadband (MBB) offerings. Unique Challenges…
The National Treasury is due to release its main budget data for July. Absa group and the Thomson Reuters consensus expect a main budget deficit of R123.7bn, slightly smaller than the R129.5bn deficit recorded in July last year. Our forecast is broadly in line with the provisional financing data. A print in line with our forecast would leave the 2023/34 fiscal year-to-date main budget deficit at R171.0bn, compared with the deficit of R118.0bn over the same period in 2022/23. Absa believes that higher interest rates continued to dampen the growth of private sector credit extension in July. The SARB is due to…
Personal safety has taken on a new dimension, with the development of innovative apps that offer quick and efficient ways to summon help in the event of an emergency. One such app that has gained considerable attention is the Namola app. Designed to connect users with emergency services swiftly and intelligently, the Namola app has become a valuable tool in enhancing personal safety. The Namola app aligns perfectly with AppGallery’s mission to curate apps that cater to users’ diverse needs whilst prioritising their security and well-being. The app’s seamless integration with HUAWEI devices ensures that users have quick access to a…
According to the Economist, There is a say, “a backlash against the tyranny of high expectations” within the workplace, a time to not be perfect at work. Why? Because burnout and stress are at record highs. A Future Forum survey reported that burnout was at the highest levels since May 2021 with 42% of respondents suffering from it. Why does this matter? Because burned-out people are less satisfied in their roles, more likely to look for new roles and, even more concerning, will feel disconnected from the company, its values and leadership. This is why, more than ever, conscious leadership…
Experian, one of the largest credit bureaus in South Africa, has launched Up, a free credit, budgeting and learning experience web-based app, that aims to help South Africans take control of their financial health. The Experian Consumer Default Index (CDI), which tracks the rate of increase in consumer first payment default, has steadily increased over the past five quarters across all consumer segments. “It is clear that the strain of the current economic climate continues to weigh heavily on consumers, with many turning to credit to make up for the shortfalls in their cost-of-living expenditures. Helping consumers to manage their budgets and…
The domestic macro calendar is fairly busy this week. The SARB is hosting its Biennial Conference on Thursday and Friday under the theme ‘post-crisis lessons and policy challenges’. The SARB notes that the aim of this year’s conference is to bring together speakers to reflect on the challenges faced by central banks and other macro policy makers in the wake of the pandemic and amid new challenges to growth. The agenda includes global thought leaders who will be discussing a range of issues including monetary policy in advanced economies, macroeconomic stability in emerging markets, the challenges presented by climate change and…
Redvine Networks, the fully managed secure SD-WAN and networking service provider and distributor, has collaborated with French software developer Lytn, to combine machine learning (ML) and advanced artificial intelligence (AI) to build a solution exclusively for the African continent to proactively optimise network performance for customer environments. “Redvine RHEA is an exciting addition to our solutions stack and demonstrates our continued commitment to driving a technology forward approach for our customers. It is also the first of its kind on the continent, and aims to help businesses better manage their networks, driven by insights and data,” says Binesh George, CEO and co-founder of Redvine Networks. The solution enables customers to seamlessly interrogate the data generated on their networks.…
Leading automotive lubricant company, Castrol, took a prominent role in this year’s anticipated Women with Drive event, hosted by MasterDrive. The event took place this Women’s Month at the prestigious Festival of Motoring and is an opportunity to champion gender equality in traditionally male-dominated industries. With the theme ‘WOMEN WITH DRIVE – STRIVE’, this year’s event aims to highlight the remarkable resilience and determination exhibited by women in the transport and energy sector. Jennifer Heyes, Marketing Director at Castrol Africa, and Charlie Naidoo, Finance Director at Castrol Africa, will participate in the event’s panel discussion, titled ‘Strive for Independence.’ This…
