Standard Bank has upped its dividend amid a rise in profits—despite the challenging operating environment in South Africa.
Standard Bank has seen its profits increase thanks to a decline in credit impairment charges. This is as a result of its strategy to cut back lending to individual customers and instead focus on businesses and governments.
However, inflation on the continent was not uniform. East Africa has seen the lowest inflation outcomes, while West Africa has seen inflation edge higher. “Several Eskom units returned to commercial operation, alleviating the electricity supply pressures experienced in 2023.” The policy reform agenda by the GNU is expected to continue and possibly accelerate. Inflation in South Africa has also trended down slowly, and interest rates have remained flat.
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