Forex exchange shortages in Africa
Good Morning Africa
English - February 08, 2024 03:00 - 5 minutes - 4.06 MB - ★★★★★ - 6 ratingsBusiness News News Daily News Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Interest rates on private sector credit demand.
🎙 What are the reasons and outcomes of the forex exchange shortages in Africa?
🎙South Africa's gross foreign exchange reserves fell to $61.188 billion in January 2024, down from a record high of $62.518 billion in the previous month.
🎙The Central Bank of Kenya raised its benchmark rate by 50 bps to 13% at its meeting on February 6th 2024, following a massive 200 bps hike in December.
🎙Kenya and Japan’s motor vehicle giant Toyota have entered into a vehicle manufacturing deal that will see the firm set up a base locally. Toyota commits an initial investment of Sh800 million.
🎙Safaricom’s M-Pesa Ethiopia operations recorded Sh44.9 million in revenue.