Author: Albert Nangara

Albert is an experienced business writer specializing in stock exchanges, financial markets and technology. He has a deep understanding of the dynamics of the global economy and a keen interest in analyzing investment trends, market trends, and the impact of investments on stock prices especially in the Southern African region.

Profit-making idea: Crowdfarming in Rwanda. www.theexchange.africa
  • Crowdfarming is a concept that aims to address these challenges by equipping smallholder farmers with the resources they need to grow crops and raise livestock.
  • The global crowdfunding market was estimated to be over US$17 billion in 2020, with an annual growth rate of 16 per cent – 17 per cent.
  • Between 2013 and 2016, over 78 per cent of annual African crowdfunding occurred in South Africa, Nigeria and Kenya.

When it comes to the agricultural sector in Africa, the concept of crowdfarming is shrouded in mystery. This relatively new phenomenon has attracted a lot of attention in recent years and is hailed by many as a solution to the many challenges faced by smallholder farmers on the continent. But what exactly is crowdfarming and what opportunities does it offer for investors and farmers alike?

First and foremost, it is important to understand the importance of agriculture in Africa. Despite …

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The SA Revenue Service (SARS) has exceeded the 2022 revenue collection by R123 billion after collecting a net revenue of R1.687 trillion in the financial year that ended in March 2023. www.theexchange.africa
  • The South African Revenue Service (SARS) has exceeded the 2022 revenue collection by R123 billion after collecting a net revenue of R1.687 trillion in the financial year that ended in March 2023.
  • Gross tax revenue collected exceeded R2 trillion for the first time after gross revenue rose to R 2.068 trillion over the same period.
  • The gross revenue collected excludes the refunds of R381.1billion, an 18.7 per cent growth or an increase of R60 billion from 2022.

The South African Revenue Service (SARS) has reported an impressive growth of 7.9 per cent in net revenue for the 2022/2023 financial year. The net revenue collected by SARS represents year-on-year an increase of 7.9 per cent over the net 2022 amount of R1563.8 billion ($872 billion).

SARS collected a record gross amount of R2067.8 billion. The net collection after payment of R381.1 billion in refunds is R1686.7 billion. This is the …

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The South African Reserve Bank has established SA’s first deposit insurance body, the Corporation for Deposit Insurance (CODI), to help protect bank depositors as well as with confidence in the financial sector. www.theexchange.africa
  • The South African Reserve Bank has established South Africa’s first deposit insurance body, the Corporation for Deposit Insurance (CODI) to protect bank depositors and bring confidence to a resilient financial sector.
  • The CODI became a legal entity as of March 24, 2023, as set out in the commencement schedule published by Finance Minister Enoch Godongwana.
  • CODI’s primary responsibilities are to establish, maintain and administer a deposit insurance fund.

South Africa’s first deposit insurance institution, the Corporation for Deposit Insurance (CODI), has been established by the South African Reserve Bank. This move aims to protect bank depositors and increase confidence in the country’s financial sector, especially in the aftermath of the Silicon Valley Bank collapse in the United States of America, which caused a financial crisis due to liquidity risk. As a result, more regulators have moved to secure depositors’ money.

The CODI has been tasked with establishing, maintaining, and managing …

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Pokugara
  • WestProp Holdings Limited says it is on track to list soon at the Victoria Falls Stock Exchange (VFEX).
  • The IPO offers one million ordinary shares at US$ 10 each and US$ 5.4 million preferential redeemable convertible shares at US$ 5 each.
  • “WestProp’s IPO is to raise US$30 million capital to accelerate development of existing projects. 

WestProp Holdings Limited, a property development and investment company, is set to list on the Victoria Falls Stock Exchange (VFEX) following the Board of Directors’ announcement of their upcoming offers.

The VFEX -a USD-indexed bourse and also a subsidiary of the Zimbabwe Stock Exchange (ZSE) has been attracting many companies since its formation over two years ago due to several sweeteners, including zero capital gains tax on share disposal and lesser transacting costs. To date, the VFEX has managed to get 9 listings.

The offers include the issuance of up to 5,400,000 convertible redeemable participating …

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Current State of Online Forex Trading in Africa. www.theexchange.africa
  • Africa is an emerging market in forex trading, and its potential for growth is immense.
  • Forex trading in Africa is a growing industry, but it faces significant challenges.
  • These include lack of infrastructure, education, and awareness, coupled with fraudulent activities, have hindered its growth.

Online Forex trading in Africa is still in its nascent stage and is largely driven by the youth. In layman’s terms, forex trading is the act of buying and selling currencies to make profits based on speculating the relative upward or downward movements of currencies.

According to ForexSchoolOnline.com, the average age of forex traders is between 25-44 years old, with 9 per cent aged 65 or older. Only 37 per cent of traders are either breaking even or profitable, while 63 per cent are unprofitable. Most traders (72 per cent) have no experience trading other markets before forex, and 40 per cent of traders are …

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Morupule Coal Mine Signs MoU with Letshego for Financial Support. www.theexchange.africa
  • Morupule Coal Mine (MCM) and Letshego Botswana have joined forces to support Micro and Small Entrepreneurs (MSEs) and drive Citizen Economic Empowerment.
  • Through the signing of a Memorandum of Understanding, Morupule Coal Mine’s contract suppliers now have the opportunity to access affordable funding through the commitment of a P2.2 Billion ($165M) facility by Letshego Botswana over a 5-year period.
  • Letshego Botswana and Morupule Coal Mine have pledged to hive off contracts, provide ongoing financial support, and empower these entrepreneurs, giving them the potential to scale up their operations.

The signing of the Memorandum of Understanding between Morupule Coal Mine and Letshego Botswana underpins the commitment of the partners to empower and unlock the potential of Micro and Small Entrepreneurs to gain access to the capital required for participating in and successfully completing projects competitively within agreed timelines.

MSEs face significant financial challenges, including a low appetite in the market to …

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In February 2023, the annual inflation rate increased by 7.2 percent compared to 4.5 percent recorded in February 2022. www.theexchang.,africa
  • The annual inflation rate for February 2023 increased by 7.2 per cent compared to 4.5 per cent recorded in February 2022.
  • On a monthly basis, inflation rate increased to 0.4 per cent compared to 1.1 per cent registered in the earlier month.
  • Load-shedding in South Africa is preventing farmers from buying livestock from Namibia.  

In February, the cost of goods and services increased more sharply and the outlook does not appear promising, particularly regarding food, which saw a 14 per cent hike. The Namibian Statistics Agency disclosed inflation figures for February yesterday, with the month displaying a 7.2 per cent rate, one percentage point higher than January’s inflation rate.

This 7.2 per cent is taking the country back to August 2022 when inflation reached a peak of 7.3 per cent. While most goods and services’ prices have increased overall, service inflation continues to weigh on headline inflation, rising at a …

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A shopper pushes a trolley as logos of shops are seen on a wall at a shopping mall in Lenasia, south of Johannesburg, South Africa, June 28, 2022. www.theexchange.africa
  • According to figures released this Wednesday by Statistics South Africa, retail sales in the country fell 0.8 per cent year on year in January.
  • The data provides an insight into consumer demand in the country’s most industrialized economy.
  • Sales for the three months to the end of January were also down by 0.2 per cent compared to the same period last year.

Statistics South Africa has released figures showing that retail sales in the country declined by 0.8 per cent year on year in January, following a revised 0.5 per cent decline in December. On a month-on-month basis, sales rose by 1.5 per cent. These figures provide insights into consumer demand in Africa’s most industrialised economy. Retail trade sales decreased by 0.2 per cent in the three months to the end of January, compared with the same period last year, the statistics agency said.

The largest negative contributors to this …

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Arnaud Lagesse. Group CEO of IBL Limited. www.theexchange.africa
  • IBL Group, a multinational conglomerate has acquired an undisclosed stake in Harley’s, a pharmaceutical distributor based in Kenya.
  • The transaction marks the group’s latest investment in Kenya, following the acquisition of a 26.32-percent stake in Naivas Limited for Ksh12.5 billion (US$100 million) last year.
  • IBL revenues for six months ended 31 December 2022 increased by 24 per cent to Rs 27.06 billion. Operating profit for the Group has increased to Rs 1.99 billion from Rs1.65 billion in 1H2022, representing a growth of 20 per cent.

Mauritian conglomerate Ireland Blyth Limited (IBL) has bought an undisclosed stake in Nairobi-based pharmaceuticals distributor Harley’s as part of a consortium that has taken control of the company.

This marks the latest investment in Kenya for IBL which last year acquired a 26.32 per cent stake in supermarket chain Naivas Limited for US$100 million (Sh12.5 billion) also as part of a consortium, underscoring the group’s …

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State-owned enterprises have built the Chinese economy. They can save Ghana too. www.theexchange.africa
  • Ten state-owned enterprises (SOEs) are being prepared for listing on the Ghana Stock Exchange (GSE).
  • Most of these SOEs have appealed to the government through the Ministry of Finance to assist them in recapitalizing their businesses.
  • The approval of the President of Ghana is required because these SOEs are wholly or partially owned by the government. Consequently, presidential approval is required for these companies to offer their shares on the stock market.

Ten state-owned enterprises in Ghana are about to be listed at the Ghana Stock Exchange (GSE) after being selected by the State Interest and Governance Authority (SIGA) and the Ministry of Public Enterprises following a market readiness assessment. The move is seen as a way to recapitalize these state-owned companies and make them a tool for economic development in the country.

The GSE’s executive director, Abena Amoah, made the announcement at SIGA’s just-concluded annual meeting in Kwahu Abetifi …

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