Spotlight on Zim, Kenya & SA

Kenya Kenya’s economy is projected to grow by 6.6% in 2022 according to the Finance Ministry. The main risks being the new Delta variant and political instability ahead of an August general election | The officials also said that the budget deficit is expected to shrink to 5.6% of GDP. | The Kenyan Shilling remains firm at the 108 level against the USD and 150 against Sterling.

South Africa

President Cyril Ramaphosa has appointed the chairman of the Development Bank of Southern Africa, Enoch Godongwana, as the new Finance Minister after Tito Mboweni's resignation | The Rand has recovered all of its mid-week losses against the US Dollar and Sterling - ending the week at USDZAR 14.63 and GBPZAR 20.30 respectively.

Zimbabwe

Qatar Airways made its inaugural landing in Harare this afternoon. | In a strong sign of confidence in Zimbabwe's economic prospects; the winner of the World’s Best Airline Award for 2021 will make three flights every week on Wednesday, Friday and Sunday. Full Schedule: Doha (DOH) to Lusaka (LUN) QR1455 departs: 02:20 arrives: 08:50, Lusaka (LUN) to Harare (HRE) QR1455 departs: 10:20 arrives: 11:20, Harare (HRE) to Lusaka (LUN) QR1456 departs: 18:55 arrives 19:55, Lusaka (LUN) to Doha (DOH) QR1456 departs: 21:25 arrive 05:55 (+1)

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None of the information in this article is, nor should be construed as, financial advice. All foreign exchange transactions involve risk and you should always seek your own independent financial advice before entering into any foreign exchange transaction.