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US exceptionalism is expected to persist into 2025, bolstered by Trump's pro-growth policies, while ex-US equities face challenges from tariff uncertainties. However, narrowing growth differentials and high valuations could pose risks, necessitating close monitoring of economic dynamics and potential shifts in fiscal strategies from major economies like Germany and China.
Grit Real Estate Income Group Ltd. is set to raise $100 million for its property development efforts across Africa, with significant backing from the Public Investment Corp., which manages approximately 3 trillion rand ($165 billion) for South Africa's Government Employees Pension Fund. The fund is providing a $48.5 million cash injection specifically for Grit's Gateway Real Estate Africa unit, which will oversee all property development outside South Africa.
South Africa’s finance minister, Enoch Godongwana, indicated that the government cannot assure an increase beyond the 4.7% wage offer made to public servants, as inflation has decreased since the offer was presented. The consumer price index was at 4.5% when the proposal was made, but it has since dropped.
Eskom Holdings SOC Ltd.'s dollar bonds backed by government guarantees have seen their risk premium narrow to the lowest level since trading began in 2018. This shift reflects growing investor confidence, driven by South Africa's recent credit-outlook upgrade, enhanced operational stability, and ongoing state support.
South Africa’s Minister of Trade, Industry and Competition, Parks Tau, is appealing a decision by the Competition Tribunal that blocked Vodacom Group Ltd.’s $730 million acquisition of a stake in Remgro Ltd.’s fiber businesses. The appeal aims to overturn the ruling and allow the merger to proceed, as indicated in the appeal document reviewed by Bloomberg News.
Pepkor Holdings Ltd., Africa’s largest clothing retailer, has seen its stock rise to a three-year high following a dividend announcement that surpassed analysts' expectations and plans for up to 300 new stores. In South Africa, improving consumer disposable income, reduced food inflation, and fewer power outages are boosting growth and confidence, while the company has managed to maintain better stock levels despite port delays.
Attacq Ltd., a South African property group, plans to invest 20 billion rand ($1.1 billion) to expand its flagship Waterfall City commercial and logistics hub near Johannesburg. CEO Jackie van Niekerk highlighted a partnership with the Government Employees Pension Fund as a key financial backing for the project.
The World Health Organization (WHO) secured $1.7 billion in new pledges at the G20 meeting, bringing total commitments to $3.8 billion for its 2025–2028 strategy. This funding, which includes significant contributions from Australia, Indonesia, Spain, and the UK, aims to enhance financial stability and flexibility for WHO's initiatives, with a goal of saving an additional 40 million lives over the next four years. The G20 reaffirmed WHO's central role in global health, emphasizing the need for sustainable financing.
South African Reserve Bank Governor Lesetja Kganyago has indicated that interest rates will be cut cautiously in 2025, following a recent reduction of 25 basis points to 7.75%. The bank's model suggests rates may stabilize slightly above 7%, but this projection serves as a broad policy guide amid ongoing uncertainty.
South Africa's central bank has implemented a cautious quarter-point interest rate cut, reducing the benchmark rate to 7.75%. This marks the second consecutive meeting with a rate decrease, as policymakers indicate that further cuts may be possible, although the economic outlook remains highly uncertain. Governor Lesetja Kganyago confirmed that the decision aligns with the expectations of economists surveyed.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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