Author: Newsroom Operations

South African Consumer Confidence Nears 2025 Peaks This Holiday Season

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South African Consumer Confidence Nears 2025 Peaks This Holiday Season

Consumer confidence in South Africa has climbed to its highest level in 2025, as households and businesses prepare for the holiday season amid signs of easing economic pressure, according to a quarterly survey released Tuesday by First National Bank (FNB) and conducted by the Bureau for Economic Research (BER). The FNB / BER Consumer Confidence Index improved to –9 in the fourth quarter, up from –13 in the previous quarter, marking the strongest reading of…

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African Nations Call for Realistic Energy Transition Amid Climate Finance Gaps

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African Nations Call for Realistic Energy Transition Amid Climate Finance Gaps

Belém, Brazil – As global climate finance talks ramp up at COP30 in Belém, Brazil, African countries are pressing for greater flexibility in energy transition demands — warning that a severe shortfall in funding threatens both climate goals and development priorities. At a high-level gathering under the banner of “Africa at the Forefront of Climate Action”, ministers, regional leaders and development bodies called for a new financing architecture that aligns climate ambitions with the continent’s…

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As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

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As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

Nairobi, Kenya – African economies are entering what analysts describe as a critical juncture, as a wave of withdrawals by foreign banks prompts an urgent reassessment of competitiveness, regulation and financial sector strategy across the continent. Recent years have seen a growing exodus of major global banking institutions from Africa. European and UK-based banks that for decades operated in multiple African markets are now scaling down or completely exiting. According to latest reports, Africa’s overall…

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Detty December Emerges as Growth Engine for West African Leisure Economies

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Detty December Emerges as Growth Engine for West African Leisure Economies

As the year draws to a close, cities across West Africa come alive — not just with festive spirit, but with significant economic energy. The seasonal phenomenon known as Detty December — a period of heightened celebrations, return‑home gatherings by diaspora communities, concerts, nightlife, and holiday tourism — continues to cement itself as a major driver of leisure‑economy growth in the region. In 2024 the economic impact was especially pronounced in Lagos, where official figures…

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Offshore Oil Gains Momentum in Southern Africa

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Offshore Oil Gains Momentum in Southern Africa

Kimberley, South Africa – In a significant development for Southern Africa’s energy landscape, major offshore oil projects are advancing even as the continent grapples with ambitious climate and energy transition targets. Recent approvals for international oil firms to expand offshore operations highlight the persistent tension between economic growth imperatives and sustainable development objectives. South Africa’s national oil company, PetroSA, recently approved Shell as the majority partner in Block 2C, off the country’s west coast. The…

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