<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="544" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-820x544.jpg" alt="" class="wp-image-479306" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-820x544.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-300x199.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-768x509.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-1536x1018.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/04/LYNXMPEG6217H-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Customers queue to draw money from an ATM outside a branch of South Africa&#8217;s Capitec Bank in Johannesburg,South Africa, March 2, 2017. REUTERS/Siphiwe Sibeko/Files</figcaption></figure>



JOHANNESBURG, March 28 (Reuters) &#8211; South Africa&#8217;s Capitec Bank said on Friday that Group CEO and founding member Gerrie Fourie will retire in July after 11-1/2 years at the helm, and named Graham Lee, the group executive of its retail bank division, as his successor.



Fourie has been on the executive management team for the past 25 years. He become the CEO in January 2014 and will retire at the annual general meeting to be held on July 18.



&#8220;Under his stewardship as CEO, the company transformed from a challenger bank serving 5 million clients in 2014 to South Africa&#8217;s leading digital bank and a diversified financial services company serving over 24 million personal and business clients&#8221;, the lender said in a statement.



Santie Botha, Chairman of Capitec&#8217;s Board added that Fourie has not only facilitated significant growth and innovation &#8220;but has also built a strong and diverse leadership team, poised to carry the group into the future.&#8221;



As the lender diversified over the last four years, Fourie expanded the executive structure to include divisional executive teams responsible for the personal bank, business bank, insurance company, and strategic initiatives.



Lee, 50, has been a member of the group executive committee since 2022. He joined Capitec in 2003 and has held numerous strategic positions in credit, technology and data, and personal bank operations.



Basani Maluleke will succeed Graham Lee as group executive for the personal bank division, Capitec said.



(Reporting by Nqobile Dludla in Johannesburg, additional reporting by Yamini Kalia in Bengaluru; Editing by Sherry Jacob-Phillips and David Evans)

Customers queue to draw money from an ATM outside a branch of South Africa’s Capitec Bank in Johannesburg,South Africa

South Africa’s Capitec Bank CEO Gerrie Fourie to retire in July

Why It’s So Hard To fix The U.S. Air Traffic Control Problems

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1.jpg" alt="" class="wp-image-428138" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Q26RQAICWNPFJFYJE2MKCI6H7Q-1-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South Africa&#8217;s central bank governor, Lesetja Kganyago, arrives to deliver a keynote address on monetary policy, growth and jobs at the University of the Witwatersrand in Johannesburg, South Africa, November 1, 2022. REUTERS/Siphiwe Sibeko</figcaption></figure>



South Africa’s central bank governor Lesetja Kganyago says the country’s inflation targeting regime is out of date and might be inhibiting faster growth and making the economy less competitive.



While the country’s 25-year-old inflation targeting framework had helped lower interest rates from above 20 percent in 2000 to 7.5% now and helped reduce macroeconomic volatility, Kganyago said a fresh look was needed in line with other developing economies.



`’In this respect, the South African target is now rather dated, reducing our competitiveness and opportunity to generate faster and more sustainable growth,’’ Kganyago told the bank’s biennial conference in Cape Town.



South Africa’s newly established democratic government was one of the earliest adopters of the inflation targeting regime in 2000 when it was set at between 3 and 6 percent. Under Kganyago’s tenure, the SARB has focused its monetary policy on keeping inflation at the mid-point of 4.5 percent, and argued it should be lowered to around 3 percent.



Growth in Africa’s biggest economy has been stuck around 1 percent for the past decade as the country struggled with power shortages and corruption during the rule of former President Jacob Zuma who was accused of allowing a wealthy Indian family to control state institutions in what was generally referred to as ‘state capture’. &nbsp;



President Cyril Ramaphosa’s administration has since set a target of lifting economic growth to around 3 percent in the medium term after launching reforms under its Operation Vulindlela programme which helped end debilitating power shortages last year. Momentum was further maintained by the formation of the Government of National Unity after last year’s elections.



Kganyago said a session at the conference will tackle the question of what would be an optimal inflation target for South Africa in the context of what he called the country’s structural rigidities.



‘’Open discussions like these are important for how we think about the trajectory for global macroeconomic policy over the medium term, and what that means for the path of inflation targeting within the South African context,’’ he said.



Under South Africa’s constitution the inflation target is set by the Minister of Finance Enoch Godongwana who last October said he was not yet convinced of the merits of adjusting it though teams from the central bank and the National Treasury have started discussions on the subject.

South Africa’s central bank governor to delivers keynote address

South Africa central bank says inflation targeting framework may be stifling growth

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="528" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-820x528.jpg" alt="" class="wp-image-602417" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-820x528.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-768x495.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-1536x990.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4U3A9916-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



Johannesburg, South Africa – The Executive Apartment Hotel Group proudly announces the grand opening of its latest prestigious development – One Rosebank Executive Apartment Hotel developed by the leading Developer Tricolt Developments – set to welcome guests in May 2025. Perfectly positioned in the heart of Rosebank, Johannesburg, One Rosebank is a striking new landmark that redefines the standard of luxury, design, and personalised hospitality in South Africa.



<h2 class="wp-block-heading" id="h-where-luxury-meets-art-and-design">Where Luxury Meets Art and Design</h2>



One Rosebank Executive Apartment Hotel offers exceptional design and bespoke service, blending sophistication with functionality in a world-class environment. This ultra-exclusive apartment hotel promises guests an unmatched experience through curated amenities and signature spaces, including the breathtaking Skybar, the refined Epicure at One Restaurant by Multi award-winning Chef Coco Reinarhz, a fully equipped Business Centre, and the cutting-edge Trifit Gym. Residents and guests can also enjoy the Clubhouse and a serene Leisure Pool, adding to the property’s exclusive lifestyle offering, which will be completed in Phase 2.



With Rosebank Mall and The Zone just moments away, and the Gautrain station a short walk from the property, One Rosebank places guests at the centre of Johannesburg’s premier cultural, business, and entertainment district.



<h2 class="wp-block-heading" id="h-a-visionary-leader-at-the-helm">A Visionary Leader at the Helm</h2>



At the forefront of this iconic One Rosebank Executive Apartment Hotel opening is Pamela Niemand, Managing Director of the Executive Apartment Hotel Group and a visionary in the apartment hotel and property industry. Widely recognised as South Africa’s leading Apartment Hotel expert, Pamela pioneered the country’s first apartment hotel and has been instrumental in shaping the industry for over 24 years.



Pamela’s influence and leadership have been pivotal in establishing some of the most successful apartment hotel developments. Her unwavering commitment to excellence, innovation, and sustainable growth continues to elevate the Executive Apartment Hotel Group as a premier brand in the hospitality sector.



“One Rosebank is more than just a hotel – it’s a new benchmark for hospitality in Johannesburg, combining refined living, artistic design, and next-level service. It embodies our vision of real hospitality reimagined,” says Pamela Niemand.



As anticipation builds toward the grand opening in May, the Executive Apartment Hotel Group looks forward to welcoming discerning guests, corporate and leisure travellers, to this exciting new address.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="447" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-820x447.jpg" alt="" class="wp-image-602397" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-820x447.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-300x164.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-160x87.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE-768x419.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ONE-ROSEBANK-IMAGE.jpg 1280w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>

4U3A9916 1

Introducing One Rosebank Executive Apartment Hotel – Where Luxury Meets Art and Design by Executive Apartment Hotel Group

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-820x461.jpeg" alt="" class="wp-image-602394" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">US President Donald Trump meets with US Ambassadors in the Cabinet Room of the White House in Washington, DC, on March 25, 2025. Mandel Ngan | AFP | Getty Images</figcaption></figure>



President Donald Trump said that tariffs will likely be more “lenient than reciprocal,” as the April 2 tariff deadline looms for a number of levies to go into effect.



“I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people,” Trump said Tuesday in an interview with Newsmax.



“I know there are some exceptions, and it’s an ongoing discussion, but not too many, not too many exceptions,” the president added.



The White House later clarified the president’s remarks, saying the Trump administration will no longer take into account non-tariff barriers countries raise against the United States to determine the reciprocal tariff rate, as told to CNBC’s Eamon Javers.



Non-tariff barriers include factors such as a value-added tax (VAT) — which is a tax on the final consumption of a good or service based on the value added at each production stage — as well as wage suppression and currency manipulation.



The softening stance on tariffs from the Trump administration could soothe investors worried a global trade war will slow down the U.S. economy.



Already, consumer and corporate sentiment have taken a hit. On Tuesday, the Conference Board said its measure for consumer expectations on business, income and labor dropped to a 12-year low.



Stocks have struggled recently, with the S&amp;P 500 dropping 3% in the past month. The benchmark also dipped into correction territory amid the tariff pressures, briefly trading more than 10% below a record set in February.

108121139-1742932113047-gettyimages-2206346050-AFP_37V49ZV

Trump says tariffs coming in April will ‘probably be more lenient than reciprocal’

How one of Japan’s largest insurers is pivoting to serve an aging population

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="541" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg" alt="" class="wp-image-425628" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-768x507.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-1536x1013.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo of South Africa&#8217;s central reserve bank is seen during the delivery of a keynote address by South Africa&#8217;s central bank governor, Lesetja Kganyago, at the University of the Witwatersrand in Johannesburg, South Africa, November 1, 2022. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, March 27 (Reuters)&nbsp;&#8211;&nbsp;South Africa recorded foreign direct investment inflows of 7.5 billion rand ($411.76 million) in the fourth quarter, compared to outflows of 3.2 billion in the third quarter, central bank data showed on Thursday.



The South African Reserve Bank said in its Quarterly Bulletin that the inflows were due to increased equity investment in domestic subsidiaries by non-resident parent companies.



Portfolio investments recorded smaller inflows of 33.4 billion rand in October-December, compared to inflows of 45.6 billion rand in the third quarter.



&#8220;Non-residents&#8217; net acquisition of debt securities, which included the proceeds from national government&#8217;s issuance of two international bonds amounting to $3.5 billion, outweighed their disposal of equity securities,&#8221; the central bank said.



($1 = 18.2144 rand)



(Reporting by Bhargav Acharya; Editing by Alexander Winning)

FILE PHOTO: South Africa’s central bank governor to delivers keynote address

South Africa shifts to FDI inflows in fourth quarter, central bank says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



March 27 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Sierra Leone is expected to announce its rate decision.



Zimbabwe&#8217;s statistics agency releases March inflation data.



Namibia&#8217;s finance minister presents the budget for the fiscal year starting on April 1 2025.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Global stocks fell on Thursday, led by heavy losses in Japan and South Korea, after U.S. President Donald Trump announced new tariffs on auto imports, with European stock futures also pointing to a lower open.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices edged up on Thursday on concerns about tighter global supply after U.S. tariff threats on Venezuelan oil buyers and earlier sanctions on Iranian oil buyers, while traders weighed the impact of U.S. President Donald Trump&#8217;s auto tariffs.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand opened stronger on Thursday, ahead of the release of a quarterly bulletin by the central bank and monthly producer inflation figures.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was stable on Wednesday, supported by foreign-currency inflows from the diaspora and tea exports, traders said.



<h2 class="wp-block-heading" id="h-south-sudan-security">SOUTH SUDAN SECURITY</h2>



The United States on Thursday called on South Sudan President Salva Kiir to release his rival First Vice President Riek Machar who was reportedly under house arrest, saying it was time the country&#8217;s leaders demonstrated their commitment to peace.



<h2 class="wp-block-heading" id="h-nigeria-security">NIGERIA SECURITY</h2>



Suspected Islamist fighters launched a coordinated attack on an army base and a military outpost in Nigeria&#8217;s northeastern Borno State, killing at least 16 people, security sources told Reuters.



<h2 class="wp-block-heading" id="h-senegal-economy">SENEGAL ECONOMY</h2>



The International Monetary Fund on Wednesday called for Senegal to streamline tax exemptions and phase out costly energy subsidies as part of &#8220;urgent reforms&#8221; after an audit revealed misreporting of economic data.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on March 27

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3243" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/PMUHNUWJO5JCDIURCOV3C2CCAY.avif" alt="" class="wp-image-602355"/><figcaption class="wp-element-caption">A used Mini Cooper electric car is seen for sale outside the showroom of a used car dealer in Manchester, Britain, October 19, 2023. REUTERS/Phil Noble/File photo</figcaption></figure>



LONDON, March 27 (Reuters)&nbsp;&#8211;&nbsp;The Supreme Court of the United Kingdom will on Tuesday hear arguments to overturn a judgment that could cost Britain&#8217;s financial industry billions of pounds in fresh legal costs and potential customer compensation.



The Court of Appeal ruled in October that it was unlawful for lenders to pay commissions to motor dealers without a customer&#8217;s informed consent, triggering speculation about the nature and scale of possible remedies for affected borrowers.



Lloyds Banking Group, Close Brothers and Santander UK SANS have together already set aside more than 1.5 billion pounds ($1.9 billion) to cover potential compensation claims.



Some analysts say the fallout could be the costliest for banks since they paid almost 40 billion pounds in compensation to customers for mis-selling payment protection insurance.



<h2 class="wp-block-heading" id="h-what-will-the-supreme-court-consider">WHAT WILL THE SUPREME COURT CONSIDER?</h2>



Reviewing three earlier claims &#8211; two against South African lender FirstRand and one against Britain&#8217;s Close Brothers &#8211; the Supreme Court will decide the extent of car dealers&#8217; legal responsibility to provide appropriate information to consumers when also acting as credit brokers.



Assuming a duty of care is owed, the court is also expected to rule whether commissions paid by lenders to car dealers were &#8220;secret&#8221; or insufficiently disclosed, and whether lenders are liable as accessories for procuring the credit brokers&#8217; breach of duty.



If lenders are considered liable, and the relationship between lender and consumer is considered &#8220;unfair&#8221; under the Consumer Credit Act 1974, the court will decide what kind of remedy errant lenders have to make.



The Supreme Court&#8217;s judgment is expected in the summer.



<h2 class="wp-block-heading" id="h-who-might-be-impacted">WHO MIGHT BE IMPACTED?</h2>



The Financial Conduct Authority banned the payment of discretionary motor finance commissions in 2021, eliminating incentives for brokers to hike the interest rate customers pay on their motor finance loans.



But some customers say they were treated unfairly before the ban came into effect, prompting the FCA to launch a probe in January 2024 into historic potential misconduct.



If the Supreme Court rules lenders and brokers should have been more transparent about commissions, the regulator has said it will consult on the structure of a compensation scheme within six weeks.



More than 2 million people a year rely on the motor finance market to buy a car, FCA data shows.



<h2 class="wp-block-heading" id="h-how-much-could-banks-have-to-pay">HOW MUCH COULD BANKS HAVE TO PAY?</h2>



Only a handful of UK lenders have motor finance businesses large enough to be materially concerned about the ruling.



These include Lloyds, Close Brothers and Santander UK, which have already made provisions of 1.15 billion pounds, 295 million pounds and 165 million pounds respectively.



But analysts say other types of commissions paid by banks to credit brokers could face scrutiny if the court decides customers must consent to such payments.



Total &#8216;worst case&#8217; industry costs could reach 30 billion pounds, ratings agency Moody&#8217;s said in November.



RBC Capital has estimated a &#8216;base case&#8217; impact on banks and non-banks of almost 18 billion pounds.



<h2 class="wp-block-heading" id="h-what-might-influence-the-supreme-court-decision">WHAT MIGHT INFLUENCE THE SUPREME COURT DECISION?</h2>



The outcome of another legal dispute, Expert Tooling vs. Engie Power on March 21, could have a bearing on the motor finance ruling.



That case involved Engie supplying electricity to Expert Tooling via an energy broker. The Court of Appeal found that the commission paid to the broker should have been disclosed. However, it did not find Engie an accessory to the broker&#8217;s breach of duty due to the lack of evidence of dishonesty.



Some lawyers say lenders will likely escape significant financial liabilities unless claimants can prove commission payments were concealed or hidden dishonestly.



Others are not so sure, citing key differences between the cases, including that the claimant in Expert Tooling vs Engie was a business, not a consumer.



<h2 class="wp-block-heading" id="h-what-next-for-the-banking-industry">WHAT NEXT FOR THE BANKING INDUSTRY?</h2>



Several major British banks have signalled an interest in recent months in mergers and acquisitions, but worries about a damaging consumer finance scandal have cast a pall over dealmaking.



Clarity over the ruling and any compensation scheme could unlock cash set aside to cover legal expenses and revive M&amp;A activity, analysts and bankers say.



($1 = 0.7738 pounds)



(Reporting by Sinead Cruise. Editing by Mark Potter)

PMUHNUWJO5JCDIURCOV3C2CCAY

Is Britain on the cusp of another multibillion-pound consumer finance scandal?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="504" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-1.avif" alt="" class="wp-image-601101"/><figcaption class="wp-element-caption">Delegates walk past the Transnet logo at the Investing in African Mining Indaba 2024 conference in Cape Town, South Africa February 7, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



March 27 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s United National Transport Union (UNTU) said on Thursday it rejected a final wage offer tabled by state-owned logistics group Transnet, which was signed by a smaller union.



Transnet on Thursday announced a three-year pay agreement with the South African Transport and Allied Workers&#8217; Union (SATAWU) to replace the current wage deal which expires on March 31. SATAWU confirmed the agreement in a separate statement.



Under the deal agreed with SATAWU, Transnet will implement 6% wage increases in the first two years of the new agreement and a 5.5% raise in the third year.



UNTU, which represents more than half the workforce at Transnet, declared a deadlock in the wage talks, saying it wants a 10% increase across the board and a single-year agreement, among other demands.



&#8220;UNTU is fully prepared to take to the streets and mobilise our 25,000-plus members to secure a liveable, just and fair agreement,&#8221; it said in a statement.



Transnet said it remained &#8220;positive that this offer will be accepted by all employees&#8221;.



&#8220;Transnet considers the offer to be reasonable and fair given the current financial and operational challenges,&#8221; the firm said.



(Reporting by Nelson Banya; Editing by Mrigank Dhaniwala)

BMQRSYHVQ5KPZEVUFBZAFEVTYQ (1)

Transnet’s major union rejects wage deal agreed by rival

Why China Is Behind The Global Luxury Slowdown

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="719" height="480" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/image002.png" alt="" class="wp-image-602043" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/image002.png 719w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/image002-300x200.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/image002-135x90.png 135w" sizes="auto, (max-width: 719px) 100vw, 719px" /><figcaption class="wp-element-caption">UAE officers participated in Operation Jungle Shield, jointly with officers from the Lusaka Agreement Task Force (Credit: UAE Ministry of Interior)</figcaption></figure>



Lt. Col. Dana Humaid, Director General of the International Affairs Bureau, Ministry of Interior, United Arab Emirates. 



Modern criminal networks operate with increasing sophistication, their operations unconstrained by national borders. Law enforcement agencies are rising to meet these challenges through collaborative approaches.&nbsp;&nbsp;



As Director General of the International Affairs Bureau at the UAE Ministry of Interior and Secretary of the International Security Alliance, I&#8217;ve witnessed the remarkable effectiveness of coordinated security responses. Africa stands as an inspiring example of transnational police collaboration—pioneering a model for successfully tackling global crime in our interconnected world.&nbsp;



The evidence for this approach is compelling. Criminal enterprises thrive on the inability of national agencies to coordinate. A trafficker stopped in Lagos reroutes through Mombasa; funds stolen in Johannesburg finance extremism in Mogadishu within hours. Yet when law enforcement agencies pool intelligence and resources, the results are transformative.&nbsp;



Through the International Security Alliance, I have witnessed first-hand how the power of coordinated action can disrupt networks in ways that isolated efforts never could.&nbsp;



Interpol’s Operation Screen West Africa provides a striking example. Over 12 nations united in a joint effort that conducted 1.3 million database checks, unearthing 82 individuals traveling with fraudulent documents and arresting 11 internationally wanted criminals. Drug traffickers, counterfeit medicine suppliers, and stolen vehicle syndicates saw their operations dismantled. These figures translate into real-world security: safer streets, disrupted crime rings, and lives protected.&nbsp;



Technology plays a crucial role. Mobile devices linked to INTERPOL’s databases now allow border officers to verify travelers’ identities against international criminal records in seconds. A once-vulnerable border post is transformed into a security stronghold.&nbsp;&nbsp;



But the true value of such tools lies in sustainable capacity-building, not dependency. The advanced technological training initiatives I have personally overseen focus on equipping police forces with the skills to use these systems effectively, creating long-term security capabilities rather than short-term solutions.&nbsp;



Security collaboration flourishes when built on a foundation of trust, with technology serving as a powerful enabler. African nations have shown remarkable progress in overcoming historical hesitations about international partnerships. When officers train together, share intelligence, and conduct joint operations, they forge professional relationships that transcend political boundaries. In my experience, these human connections are proving just as valuable as the cutting-edge tools they employ—creating a powerful synergy that strengthens security cooperation across the continent.&nbsp;



Protecting the vulnerable is another area where international cooperation is making a real impact. As the overseer of the UAE Ministry’s Child Protection Centre, I have witnessed how well-coordinated global efforts can dismantle human trafficking networks. A recent example is INTERPOL’s Operation Liberterra II, which brought together 15 specialized units from INTERPOL’s General Secretariat, along with partner organizations, national agencies, and NGOs. Through cross-border coordination, the operation rescued 3,200 potential trafficking victims. These are not just statistics—they are lives forever changed.&nbsp;



By fostering relationships between specialized units and enhancing cross-agency collaboration, such operations not only provide immediate relief but also build long-term capacity for countries to tackle these difficult and complex issues.&nbsp;



Environmental crime, too, demands a collaborative response. The Congo Basin, a vital carbon sink, is under assault from illegal logging and poaching. Operation Jungle Shield, a 2024 initiative led by the International Initiative of Law Enforcement for Climate (I2LEC), saw agencies from seven African nations unite to combat environmental destruction. The results: 2,111kg of ivory, 34kg of pangolin scales, and $11.2 million in illicit goods seized; 58 arrests; and the disruption of criminal operations responsible for deforestation equivalent to 728 football fields.&nbsp;



The remarkable success of existing collaborative initiatives provides a strong foundation for even greater achievements ahead. Continued investment in African law enforcement capacity is opening new horizons of possibility. I&#8217;ve witnessed the transformative impact of specialized training—from environmental protection investigations to seaport resilience strategies—empowering officers to confidently tackle emerging threats. INTERPOL&#8217;s Support Programme for the African Union (ISPA) is already delivering impressive results in strengthening transnational crime-fighting capacity, showcasing the tremendous potential for future growth.&nbsp;



The groundwork for a safer, more prosperous Africa is being established through enhanced intelligence-sharing, successful joint operations, and deepening mutual trust. The frameworks are firmly in place, ready to be energized by political will and commitment to extend these capabilities across the continent. As Africa experiences accelerating economic growth, robust security cooperation serves as a catalyst for protecting and amplifying these gains. Secure borders, safe cities, and trusted law enforcement create the ideal environment for investment, trade, and development to flourish.&nbsp;



The vision of an Africa where police agencies collaborate seamlessly, where criminal networks find no refuge, and where citizens move freely without fear is now within our grasp. Realizing this inspiring future requires the continuation of our shared commitment to security excellence. By strengthening cross-border cooperation, leveraging innovative technology, and investing in world-class training, we ensure that Africa&#8217;s security partnerships today will powerfully drive its prosperity tomorrow.&nbsp;

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Building a Safer Africa Through Global Police Cooperation

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3605" height="2572" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/57G3VEKNUJPP3CRC4HB3EXGSLY.avif" alt="" class="wp-image-602039"/><figcaption class="wp-element-caption">A satellite images shows the presidential palace, in Khartoum, Sudan, March 21, 2025. Maxar Technologies/Handout via REUTERS/File Photo</figcaption></figure>



DUBAI, March 26 (Reuters)&nbsp;&#8211;&nbsp;The Sudanese army is encircling Khartoum airport, two military sources told Reuters on Wednesday, as it battles to oust its rival Rapid Support Forces from a last foothold in the capital, though the war looks far from over.



The army seized the presidential palace in downtown Khartoum after fighting on Friday, an important symbolic advance after two years of a conflict that is splitting the massive country into rival zones of control.



On Wednesday, the army said it had gained control of Tiba al-Hassanab camp south of the capital, which it described as the RSF&#8217;s last base in central Sudan and last stronghold in Khartoum State.



The military sources said the army was encircling the airport, which is located in the city centre, and surrounding areas. Witnesses said the RSF had focused its troops in southern Khartoum, apparently to secure their withdrawal from the city via bridges to the neighbouring city of Omdurman.



Recent army gains in central Sudan, retaking districts of the capital and other territory, come as the RSF has consolidated its control in the west, hardening battle lines and threatening to move the country towards a de facto partition.



The war, which erupted two years ago as the country was attempting a democratic transition, has caused what the U.N. calls the world&#8217;s largest humanitarian crisis, with famine in several areas as well as outbreaks of disease.



It has driven 12.5 million people from their homes, many of them seeking refuge in neighbouring countries.



<h2 class="wp-block-heading" id="h-eruption-of-warfare">ERUPTION OF WARFARE</h2>



The army and RSF had at one point been in a fragile partnership together, jointly staging a coup in 2021 that derailed the transition from the Islamist rule of Omar al-Bashir, a longtime autocrat who was ousted in 2019.



They had also fought on the same side for years in the western state of Darfur under Bashir&#8217;s government.



The RSF, under Mohamed Hamdan Dagalo, better known as Hemedti, developed from Darfur&#8217;s janjaweed militias and Bashir developed the group as a counterweight to the army, led by career officer Abdel Fattah al-Burhan.



After they seized power together in 2021, the two sides clashed over an internationally backed plan aimed at launching a new transition with civilian parties that would require them both to cede powers.



Major points of dispute included a timetable for the RSF to integrate into the regular armed forces, the chain of command between army and RSF leaders, and the question of civilian oversight.



When fighting broke out, Sudan&#8217;s army had better resources including air power. However, the RSF was more deeply embedded in neighbourhoods across Khartoum and was able to hold much of the capital in an initial, devastating burst of warfare.



The RSF also made rapid advances to gain control of its main stronghold of Darfur and over El Gezira state, south of Khartoum, a big farming area.



With the army now re-establishing its position in the capital, it is making a new push to cement its control in the centre of Sudan.



(Reporting by Khalid Abdulaziz and Tala Ramadan; Writing by Jana Choukeir and Angus McDowall; Editing by Toby Chopra, Frances Kerry and Alex Richardson)

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Sudan army surrounds Khartoum airport, sources say, in battle for capital

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="782" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/KJPI5CCCKBMFFMGZUYUMW4RVBE.avif" alt="" class="wp-image-602002"/><figcaption class="wp-element-caption">The Duke of Sussex visits the Kasane Health Post, run by the Sentebale charity, in Kasane, Botswana, September 26, 2019. Dominic Lipinski/Pool via REUTERS/File Photo</figcaption></figure>



LONDON, March 26 (Reuters)&nbsp;&#8211;&nbsp;Britain&#8217;s Prince Harry said he was &#8220;in shock&#8221; after quitting as a patron of Sentebale, a British charity he set up to help young people with HIV and Aids in Lesotho and Botswana, following a row between trustees and the chair of the board.



Harry, the younger son of King Charles, co-founded Sentebale in 2006 in honour of his mother Princess Diana nine years after she was killed in a Paris car crash. Sentebale means &#8216;forget-me-not&#8217; in the local language of Lesotho in southern Africa.



Co-founder Prince Seeiso of Lesotho, as well as the board of trustees, joined Harry in leaving Sentebale following a dispute with chair Sophie Chandauka, who has taken legal action to try to retain her position.



&#8220;It is devastating that the relationship between the charity&#8217;s trustees and the chair of the board broke down beyond repair, creating an untenable situation,&#8221; Harry and Seeiso said in a joint statement published on Sky News on Wednesday.



Harry, who lives in California with his wife Meghan and two children, stopped working as a member of the royal family in 2020. He has been heavily involved in causes in Africa for many years and visited Nigeria last year.



The trustees had acted in the best interests of the charity in asking the chair to step down, the joint statement said.



&#8220;Although we may no longer be Patrons, we will always be its founders, and we will never forget what this charity is capable of achieving when it is in the right care,&#8221; it added.



Reuters has contacted Britain&#8217;s Charity Commission and Sentebale for comment.



(Reporting by Sarah Young; Editing by Kate Mayberry)

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UK’s Prince Harry ‘in shock’ after quitting his African Aids charity

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="573" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/QS64ZYEOH5M5XIIVOXIAGD6OTY-820x573.jpg" alt="" class="wp-image-601968" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/QS64ZYEOH5M5XIIVOXIAGD6OTY-820x573.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/QS64ZYEOH5M5XIIVOXIAGD6OTY-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/QS64ZYEOH5M5XIIVOXIAGD6OTY-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/QS64ZYEOH5M5XIIVOXIAGD6OTY-768x537.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/QS64ZYEOH5M5XIIVOXIAGD6OTY-1536x1074.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/QS64ZYEOH5M5XIIVOXIAGD6OTY-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Delegates walk past the MTN logo at the Investing in African Mining Indaba 2024 conference in Cape Town, South Africa February 7, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



JOHANNESBURG, March 26 (Reuters) &#8211; MTN Group and Airtel Africa have struck a deal to share mobile phone network infrastructure in Uganda and Nigeria, they said on Wednesday, aiming to save on investments while still increasing service coverage.



Mobile operators in Africa are seeing sustained demand for digital and financial services, but building and maintaining networks are expensive, especially for fast 5G connections.



&#8220;There are opportunities within regulatory frameworks for sharing resources to drive higher (operational) efficiencies and improve returns,&#8221; MTN Group CEO Ralph Mupita said in a statement.



Airtel Africa Chief Executive Officer Sunil Taldar said the agreement would avoid duplication of expensive infrastructure.



Sharing infrastructure allows operators to extend their network coverage more quickly, especially in rural or less densely-populated areas where it might not be economically viable to build separate networks.



Following the conclusion of agreements in Uganda and Nigeria, MTN and Airtel Africa will explore various opportunities in other markets, including Congo-Brazzaville, Rwanda and Zambia, the companies said.



Among the deals under consideration are radio access network sharing, the largest portion of the cost in network deployment and operation; commercial and technical agreements for fibre infrastructure sharing; and, if necessary, the construction of fibre networks, they added.



&#8220;This engagement does not preclude the parties from collaborating with other operators in any respective market,&#8221; the companies said.



(Reporting by Nqobile Dludla; Editing by Mark Potter)

Investing in African Mining Indaba 2024 conference in Cape Town

MTN Group and Airtel Africa agree to share networks in Uganda and Nigeria

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-820x547.jpg" alt="" class="wp-image-373504" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1920x1280.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-600x400.jpg 600w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



JOHANNESBURG, March 26 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand edged higher early on Wednesday, as investors mulled over U.S. President Donald Trump&#8217;s reciprocal tariff plans which they fear will cause an economic slowdown.



At 0707 GMT, the rand traded at 18.25 against the dollar, about 0.2% stronger than its previous closing level.



The dollar&nbsp;=USD&nbsp;was little changed against a basket of currencies.



Investors feared that Trump&#8217;s reciprocal tariffs, expected to take effect on April 2, are likely to be inflationary, potentially slowing economic growth and intensifying trade tensions.



However, Trump said on Monday that not all of his threatened duties would be imposed next week and some countries may get breaks.



&#8220;Increasingly, one gets the sense that the US economy is slowing and that the Trump administration does not want to exacerbate a downturn through the harsh imposition of tariffs,&#8221; ETM Analytics said in a research note.



Like other risk sensitive currencies, the rand often takes cues from global drivers like U.S. policies and economic data, in the absence of major local drivers.



On the stock market, the Top-40 index was up about 0.1%.



South Africa&#8217;s benchmark 2030 government bond was marginally stronger in early deals, with the yield down 0.5 basis point to 9.14%.



(Reporting by Sfundo Parakozov; Editing by Bhargav Acharya and Andrew Heavens)

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South African rand gains amid unease over Trump’s tariff plans

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



March 26 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Kenya&#8217;s Finance Minister John Mbadi will launch the government&#8217;s medium term strategy, laying out his plans to keep the government afloat amid high debt service costs and squeezed revenues.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian stocks followed Wall Street higher on Wednesday and the U.S. dollar meandered as markets awaited clarity on President Donald Trump&#8217;s trade policy ahead of a new round of tariffs next week.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices climbed on Wednesday in early Asia trade on concerns of tighter supplies after U.S. President Donald Trump threatened tariffs against countries importing oil and gas from Venezuela and after U.S. crude inventories fell more than expected.



South Africa&#8217;s rand gained on Monday as investors awaited clarity on the next round of tariffs from U.S. President Donald Trump.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was stable on Tuesday, supported by inflows of foreign exchange from several sectors including horticulture, traders said.



<h2 class="wp-block-heading" id="h-sudan-politics">SUDAN POLITICS</h2>



A Sudanese paramilitary force locked in a war with the army has placed new constraints on aid deliveries to territories where it is seeking to cement its control, including areas where famine is spreading, humanitarian workers say.



<h2 class="wp-block-heading" id="h-congo-security">CONGO SECURITY</h2>



Rwandan-backed M23 rebels in eastern Democratic Republic of Congo battled militiamen allied with the government on Tuesday as regional countries tried to give fresh impetus to faltering peace initiatives.



<h2 class="wp-block-heading" id="h-south-sudan-security">SOUTH SUDAN SECURITY</h2>



South Sudan&#8217;s First Vice President Riek Machar has accused Uganda of violating a United Nations arms embargo by entering the country with armoured and air force units, and conducting airstrikes there.



<h2 class="wp-block-heading" id="h-burundi-security">BURUNDI SECURITY</h2>



Burundi&#8217;s President Evariste Ndayishimiye said he had seen &#8220;credible intelligence&#8221; that Rwanda has a plan to attack his country, whose forces have battled Rwandan-backed rebels in neighbouring Democratic Republic of Congo.



((Compiled by Nairobi Newsroom))

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South Africa’s Capitec Bank CEO Gerrie Fourie to retire in July

Why It’s So Hard To fix The U.S. Air Traffic Control Problems

South Africa central bank says inflation targeting framework may be stifling growth

Introducing One Rosebank Executive Apartment Hotel – Where Luxury Meets Art and Design by Executive Apartment Hotel Group

Trump says tariffs coming in April will ‘probably be more lenient than reciprocal’

How one of Japan’s largest insurers is pivoting to serve an aging population

South Africa shifts to FDI inflows in fourth quarter, central bank says

African Markets – Factors to watch on March 27

Is Britain on the cusp of another multibillion-pound consumer finance scandal?

Transnet’s major union rejects wage deal agreed by rival

Why China Is Behind The Global Luxury Slowdown

Building a Safer Africa Through Global Police Cooperation

Sudan army surrounds Khartoum airport, sources say, in battle for capital

UK’s Prince Harry ‘in shock’ after quitting his African Aids charity

MTN Group and Airtel Africa agree to share networks in Uganda and Nigeria

South African rand gains amid unease over Trump’s tariff plans

African Markets – Factors to watch on March 26

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