As interest rates increase to curb rising inflation, coupled with fuel and load shedding, among other challenges – is putting pressure on the profit margins of small businesses in South Africa, says Andiswa Bata, co-head of SME at FNB.
South Africa's latest inflation figures are likely the peak in the current cycle and the figures are likely to moderate towards the end of the year, Nedbank economists said in a research note on Wednesday (20 July).
Nedbank says it plans to expand its locker collection points as clients look for more convenience and self-service options.
Andre Cilliers, a currency strategist at TreasuryONE, says that despite a weakening of the rand in recent sessions, it still remains undervalued.
Mteto Nyati and Brian Kennedy have been appointed to the board of Telkom as independent non-executive directors with immediate effect.
Banking group Nedbank is partnering with Hohm Energy to finance and install solar power solutions in South Africa. The service will be offered to all homeowners, and won't be limited to Nedbank mortgage clients, it said.
The Banker has published its annual ranking of the 1,000 biggest banks in the world, as measured by their level of tier 1 capital – with seven South African banks making the list in 2022.
Economic conditions have broadly normalised with almost all lockdown restrictions lifted and this will support the modest recovery in employment and income growth during the year, says Nedbank.
BusinessTech compares the available credit card accounts from some of South Africa's biggest banks.
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