As the country waits for the Reserve Bank to announce the next interest rate hike Thursday afternoon, middle-class South Africans may feel an extra pinch on their already-thin wallets. Currently, the repurchase rate sits at 7.75% while the prime lending rate is at 11.25%. The Reserve Bank has increased rates by 425 basis points since November 2021. This would be the tenth interest hike since November 2021. Economists say the […]
Chief economist at Econometrix Azar Jammine says these are the toughest economic times that consumers have dealt with since the COVID-19 stringent lockdown restrictions were implemented. His statement comes ahead of the South African Reserve Bank (SARB)’s Monetary Policy Committee’s (MPC) expected announcement to raise interest rates, possibly by 25 or 50 basis points on Thursday afternoon. Jammine says Eskom’s rolling blackouts have made life even tougher. “On top of that, […]
VOC became the first Muslim radio station in South Africa when a special events license was granted to the station in Ramadan/January 1995. Subsequent temporary broadcast licenses were granted, permitting the station to broadcast for 24 hours.
