Author: The Editorial Team

JOHANNESBURG (Capital Markets in Africa) — South African bonds soared, with the yield on the most-traded government securities falling by the most in 19 years, after the country’s central bank said it will start buying debt in the secondary market in an unprecedented intervention to boost liquidity. The move came as government yields reached record highs even after the South African Reserve Bank cut its policy rate last week by the most in a decade…

JOHANNESBURG (Capital Markets in Africa) — A South African labor union representing 73,000 banking employees said it hasn’t been informed on how a national lockdown will affect workers providing essential services. “The absence of such information is of serious concern because we need to give our members exact details on what the impact will be of the working arrangements on staff and how the selection of key employees to keep finance services afloat during this…

JOHANNESBURG (Capital Markets in Africa): South African President Cyril Ramaphosa has reappointed Kuben Naidoo as deputy governor of the central bank, ensuring continuity at the institution’s top management level for least another four years. Naidoo will serve a further five years after his first term expires March 31, the central bank said in an emailed statement Wednesday. His reappointment follows that of Governor Lesetja Kganyago in July when Ramaphosa also named Fundi Tshazibana and Rashad…