Day: February 2, 2024

South Africa’s Finance Minister, Enoch Godongwana, has pledged strong support for the African Continental Free Trade Area (AfCFTA) within the recently expanded BRICS grouping. This commitment highlights the nation’s strategic focus on two key developments with significant potential for its economy in 2024. World’s Largest Free Trade Area Takes Center…

Residents in South Africa’s northwest region will soon enjoy a revolutionary charging experience with the opening of the country’s first off-grid electric vehicle (EV) charging station in June 2024. This self-service station stands apart by generating its own power, eliminating reliance on the national grid. Solar photovoltaic panels capture the…

South Africa and Saudi Arabia are poised to deepen their economic ties, with both nations aiming to boost bilateral trade and investment. Mutual Growth Opportunities: At a recent meeting of the South Africa-Saudi Arabia Business Council, co-chair Stavros Nicolaou highlighted the potential for expansion. He emphasized the “huge growth opportunities”…

 In a significant achievement, Iran successfully launched three domestically designed satellites into space on Sunday, marking the first time the country has sent multiple payloads into orbit simultaneously, according to the Iranian Students’ News Agency (ISNA). Domestic Innovation Takes Flight: The satellites, named Mehda, Keyhan-2, and Hatef-1, were launched aboard…

The Central Bank of Egypt (CBE) announced a two percent increase in interest rates on Thursday, 1 February, marking the first hike since August 2023. The overnight lending and deposit rates now stand at 22.5 percent and 21.25 percent, respectively.  Despite persistent inflation, rates had remained unchanged for several months,…

The head of the Jewelry and Jewelry Division at the Chambers of Commerce Hani Milad, clarified that circulated rumors regarding the stoppage of gold pricing are incorrect. He explained that there is a state of instability and a rush to increase prices by some, which have led to the market…

An International Monetary Fund (IMF) team led by Ivanna Vladkova Hollar made “excellent progress” on discussions with Egyptian authorities regarding the first and second reviews of the country’s economic reform program, according to a statement released early Friday. The mission, which took place from January 17 to February 1, focused…