Reserve bank proposes ending use of prime lending rate in South Africa

South Africa’s central bank has launched a formal consultation on plans to discontinue the long-standing prime lending rate and instead anchor loan pricing directly to its benchmark policy rate. In a statement released on Monday, the South African Reserve Bank said linking financial contracts to the repo rate would strengthen the transmission of monetary policy…

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Africa Bitcoin Corp deepens bitcoin treasury strategy

Africa Bitcoin Corporation (ABC), the continent’s first listed bitcoin treasury firm, has increased its cryptocurrency reserves with the purchase of 1.35 bitcoin, lifting its total holdings to 4.55 BTC, valued at approximately R4.7 million at current prices. The latest acquisition was completed at an average cost of R1.14 million per coin, slightly above the prevailing…

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