South Africa’s rand recently gained momentum, rising 0.3% to 17.17 against the U.S. dollar. The movement followed softer U.S. economic data, which fueled expectations that the Federal Reserve might cut.
Across the African continent, governments are racing to digitise their currencies, launching Central Bank Digital Currencies (CBDCs) with a narrative framed around financial inclusion, innovation, and the future of money..
A digital rand in South Africa could cut the high cost of cross-border payments for banks, but a senior central bank official said its introduction is still a few years.
South Africa entered recession in the second quarter for the first time since 2009, data showed on Tuesday, in a stinging blow to President Cyril Ramaphosa’s efforts to revive the.
Making the best return on investments is the Holy Grail of investors everywhere; advice comes thick and fast from all directions as to how to invest, where to and where.
