Star 2025-01-21

Donald Trump’s newly created cryptocurrency soared on Monday to nearly $11 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the US President-elect’s return to the White House. Launched on Friday, Trump's meme coin, also known as $TRUMP, stood at $52.71 by 1230 GMT on Monday, giving it a market capitalisaton of about $10.7 billion, according to CoinMarketCap, which ranked it as the 18th biggest cryptocurrency. The coin rose to as much as $74.59 on Sunday, having risen from less than $10 early on Saturday morning, while 24-hour trading volume reached $52.5 billion. Trump had on Friday launched the digital token with branding including an image from his attempted assassination in July, expanding his cryptocurrency interests that already include…

Yet, as Wapenaar said: “Trump would not be Trump if we didn’t get something controversial.” The rand strengthened by 0.9% to R18.59 against the US dollar ahead of US President Donald Trump’s inauguration as the 47th President of the United States on Monday while Bitcoin surged to unprecedented levels despite the jitters in markets with volatility expected. The local currency was at R18.53/$1 (6pm) after reaching R19.23/$1 last week, but the US dollar softened as the markets were focusing on Trump’s plans to raise tariffs, tighten immigration, lower taxes, and ramp up deregulation, which are expected to have inflationary effects. Investec chief economist, Annabel Bishop, noted that the rand had been highly volatile ahead of Trump’s inauguration but added that it had gained as the US was seen to be…

TeamSA is hopeful that it will manage to attract foreign direct investment at the 2025 World Economic Forum (WEF) in Davos, Switzerland, on the back of stabilising the energy supply and structural reforms. The Minister of Electricity and Energy, Kgosientsho Ramokgopa, joined President Cyril Ramaphosa who is leading the South African delegation at the 55th WEF today to share significant strides South Africa has achieved in energy stability, regulatory reforms and future energy plans that will enable inclusive economic growth. Key among the highlights that South Africa is showcasing are energy reforms and market transformation, elevating private sector participation, advancing renewable energy investments, and global leadership in energy transition. Unlike in previous WEF meetings where South Africa would discuss the energy crisis at length, the country has successfully eliminated load…

By Dr Lindikaya W Myeki If one begins to count from 1967, the fresh produce market system in South Africa has been in existence for more than 50 years. But the first serious market investigation began in 1995 by the Auditor General (AG), focusing on the Joburg market in response to complaints from farmers and the National Fresh Produce Forum. This was succeeded by an additional report in 1996 from the investigation conducted by the Office for Serious Economic Offences (OSEO). Both reports from the two investigations made recommendations, but lacked information that could substantiate legal action. As a result, three more market investigations into the affairs of fresh produce market system at national level followed, conducted by the National Agricultural Marketing Council (NAMC) in 1998, 2000 and 2006.…

One of the key takeaways from the recent Massachusetts Institute of Technology (MIT)’s Initiative on the Digital Economy Annual Conference (2024) is that “human favouritism leads people to prefer content created by humans to that created by artificial intelligence (AI).” But it’s getting harder and harder to discern AI from the human touch. And when it comes to the scientific development of technology tools ostensibly to grow access to financial services across Africa, the bots cannot be trusted to singularly churn out viable and truly transformative tools for Africa’s banks. The opportunity to transform Africa’s developing economies by providing greater financial inclusion to underserved populations is an obvious one. Over 60% of Africa’s population is under the age of 25, and this young, tech-savvy demographic is increasingly digital-first, ready to…

Not to oversimplify it, but there are largely two choices for countries and their policy-makers: find ways to achieve global cooperation or risk the damaging effects of fragmentation. The stakes are high, and the path forward is clear. Collaboration at both regional and global levels is not just desirable – it is essential. It is in the self-interest of nations to ensure that all countries grow and prosper, benefiting their people equitably. Poverty, desperation and inequality do not respect borders. We see this most acutely in low-income countries where systemic challenges often drive people to take great personal risks – crossing treacherous borders and dangerous seas – in search of a better life for their families or, at times, mere survival. As these individuals leave their home countries, those nations…