Latest news with #RandMerchantBank
Zawya
5 days ago
- Business
- Zawya
South African business confidence slips in second quarter of 2025 on tariff woes
South African business confidence fell in the second quarter of 2025, pressured by trade uncertainties due to U.S. President Donald Trump's "Liberation Day" tariffs and local logistical constraints, a survey showed on Wednesday. The business confidence index dropped to 40 points from 45 in the first quarter, according to a survey by the Rand Merchant Bank (RMB) and compiled by the Bureau of Economic Research. South Africa's rand hit an all-time low in April, hurt by the trade war and the risk that the country's coalition government could lead to instability. However, it began to recover after the 90-day tariff pause. Last week, the central bank cut its repo rate by 25 basis points to 7.25%, lowering its inflation and economic growth forecasts for this year and next year. The repo rate would provide some relief, the RMB said on Wednesday, but also warned that more was needed to reignite the spark in the country's economy. The coalition government has been working to boost the country's growth rate through reforms, but persistent challenges, such as logistics bottlenecks at ports and on the freight rail network, are improving only gradually. Sectors such as retail, new vehicle dealers, builders contractors and manufacturing all reported a fall, RMB said, noting that the wholesale traders segment, which marked an increase in confidence, was the sole exception. "The majority of the respondents are thus pessimistic about trading conditions. While remaining above the average of 2023 and 2024, confidence is now a touch below the long-term average level," RMB said. (Reporting by DhanushVignesh Babu in Bengaluru; Editing by Janane Venkatraman)
Reuters
5 days ago
- Business
- Reuters
South African business confidence slips in second quarter of 2025 on tariff woes
June 4 (Reuters) - South African business confidence fell in the second quarter of 2025, pressured by trade uncertainties due to U.S. President Donald Trump's "Liberation Day" tariffs and local logistical constraints, a survey showed on Wednesday. The business confidence index dropped to 40 points from 45 in the first quarter, according to a survey by the Rand Merchant Bank (RMB) and compiled by the Bureau of Economic Research. South Africa's rand hit an all-time low in April, hurt by the trade war and the risk that the country's coalition government could lead to instability. However, it began to recover after the 90-day tariff pause. Last week, the central bank cut its repo rate by 25 basis points to 7.25%, lowering its inflation and economic growth forecasts for this year and next year. The repo rate would provide some relief, the RMB said on Wednesday, but also warned that more was needed to reignite the spark in the country's economy. The coalition government has been working to boost the country's growth rate through reforms, but persistent challenges, such as logistics bottlenecks at ports and on the freight rail network, are improving only gradually. Sectors such as retail, new vehicle dealers, builders contractors and manufacturing all reported a fall, RMB said, noting that the wholesale traders segment, which marked an increase in confidence, was the sole exception. "The majority of the respondents are thus pessimistic about trading conditions. While remaining above the average of 2023 and 2024, confidence is now a touch below the long-term average level," RMB said.
The Citizen
5 days ago
- Business
- The Citizen
The 2025 RMB Latitudes Art Fair showcases over 300 art works at Shepstone Gardens
The Rand Merchant Bank (RMB) Latitudes Art Fair's third edition took place in the enchanting Shepstone Gardens in Houghton from May 23 to 25. Read more: RMB Latitudes Art Fairs third edition comes to Shepstone Gardens The art fair worked with over 50 galleries and over 300 artists, who showcased their talent over the course of the weekend. From major local galleries, such as Southern Guild, Stevenson, and Everard Read, to nomadic gallery FEDE Arthouse, Strauss & Co auction house, and new Nigerian space AMG projects, every aspect of the art ecosystem was represented. Co-founder of Resevoir Projects Shona van der Merwe said the exhibition, which was founded in 2021 by herself and Heinrich Groenewald, is an independent partnership specialising in collaborative curation. Also read: RMB Latitudes Art Fair returned with diverse African perspectives She added that their 2025 RMB exhibition featured six of their artists: Bulumko Mbete, Cathy Abraham, Keith Henning, Luis MS Santos, Mankebe Seakgoe, and Seretse Moletsane. The fair's 2025 international platform took a deliberate and engaged focus on neighbouring country Botswana, with several exhibitors, working collaboratively to create a presentation that respects the balance between contemporary art and more traditional, foundational art practices in that region. In the gardens, an outdoor exhibition: Disturbed Currents: Art for a Warming World, explored how it is we inform the climate, and how it, in turn, informs our own lived experience. While Essay sees stoneware sculptures by doyenne of South African Ceramic Sculptors Amalie von Maltitz shown alongside charcoal drawings by Sydney Kumalo. Van der Merwe added that in 2023, Reservoir opened a space for solo exhibitions by independent artists on Bree Street in Cape Town. Follow us on our Whatsapp channel, Facebook, X, Instagram and TikTok for the latest updates and inspiration! Have a story idea? We'd love to hear from you – join our WhatsApp group and share your thoughts! Related article: Popular RMB Turbine Art Fair goes virtual
Finextra
6 days ago
- Business
- Finextra
Rand Merchant Bank signs with Surecomp
Surecomp today announced that Rand Merchant Bank (RMB), has selected its award-winning Trade Finance-as-a-Service (TFaaS) solution to drive seamless digital trade finance operations and international expansion. 0 With an initial rollout in South Africa, the cloud-based solution will be extended to other markets as RMB strengthens its presence across key global markets. Surecomp's TFaaS will ensure straight-through processing (STP) automation and seamless trade finance communication between RMB and its clients, enabling faster processing times and enhanced operational oversight. The solution's cloud-native architecture ensures resilience, security and future-proof scalability. 'An API-first technology architecture is critical to our modernization journey, to support interoperability, scalability and flexibility in our system design, and accelerate innovation and time to market. This approach supports an omnichannel experience where clients and the broader trade finance ecosystem can interact with banking services in various ways,' said Gavin Moss, Chief Information Officer - Treasury and Trade Solutions at RMB. The adoption of TFaaS represents a strategic shift for RMB, enabling streamlined trade finance operations with reduced capital expenditure and cost of ownership through a fully SaaS-based model. The move to the cloud ensures certainty of costs while offering the infrastructure to support future transaction growth and volume increases. Additionally, the solution ensures regulatory compliance, including adherence to SWIFT messaging standards, minimizing operational risk while enhancing transaction transparency and efficiency. "As we continue to expand our international trade finance footprint, it is imperative that we leverage best-in-class technology to ensure efficiency, compliance, and superior client service," said Louis du Plessis, Executive Head - Trade and Working Capital at RMB. "Surecomp's TFaaS solution provides the automation, integration and cost predictability we need to meet our growth ambitions while seamlessly supporting our clients' evolving trade finance requirements." "We are proud to partner with RMB in its digital trade finance transformation journey," said Tal Weiser, Chief Revenue Officer at Surecomp. "By choosing TFaaS, RMB is embracing a cloud-first approach to trade finance, benefiting from straight-through processing, lower operational costs, and a scalable solution that aligns with their long-term strategic growth objectives."
Daily Maverick
29-05-2025
- Business
- Daily Maverick
Citrus farmers: We are going nowhere
Chamber CEO Denise van Huyssteen set the tone with a keynote address outlining the metro's precarious financial position while also noting the success the chamber had achieved as a result of lobbying. 'South African farmers are going nowhere. We believe in the country and its people.' This statement from Hannes de Waal, the CEO of the Sundays River Citrus Company regarding farmers supposedly moving to the US as refugees, drew loud applause at the Nelson Mandela Bay Business Chamber AGM on Wednesday evening. Despite global volatility, infrastructure failures and a challenging local investment climate, delegates painted a picture of determined — if guarded — resilience. De Waal's statement about farmers came during a panel discussion featuring agri-economist Wandile Sihlobo of Agbiz and Rand Merchant Bank economist John Cairns, moderated by The Herald editor Rochelle de Kock. When De Kock asked whether South Africa should be concerned about farmers leaving, De Waal — speaking from the audience — asked for the mic. He acknowledged that some South Africans were working in agriculture overseas, including in the United States, and that a few had even launched businesses there. But he firmly rejected the idea that this meant local agriculture was in retreat. He said his concerns focused on the rising barriers for young farmers trying to enter the sector. 'The cost of land and water has gone through the roof in the last few decades. That concerns us,' he said. 'So maybe our young farmers will find opportunities like some have found up in Africa. But it's going to take something special to move a big part of South African agriculture out of South Africa. It's not going to happen.' Sihlobo, who recently released a book on agricultural development, agreed with De Waal. Since 1994, he noted, South Africa's agricultural sector had more than doubled in size. 'Exports were sitting at $2-billion in 2000,' he said. 'Last year, they hit $13.7-billion,' he said, adding that employment levels had also risen. 'It's the complete opposite of what you'll see on social media,' he said. Sihlobo acknowledged the challenges South Africa has faced since 1994, but said key indicators like income had improved significantly, noting that South Africans were now 'one-and-a-half' times better off in terms of income. Bringing levity to the discussion, Cairns addressed the so-called Afrikaner 'refugee' narrative with a tongue-in-cheek comment about US President Donald Trump. 'Our president took the famous golfers to the US, but what many people don't realise is that President Trump is a big rugby fan,' he quipped. 'The 2031 Rugby World Cup will be held in the US — that's why President Trump has asked the Afrikaners to move there.' The room erupted in laughter. Earlier in the evening, Chamber CEO Denise van Huyssteen set the tone with a keynote address outlining the metro's precarious financial position while also noting the success the chamber had achieved as a result of lobbying. Van Huyssteen reminded attendees that 73% of the metro's electricity revenue came from businesses — a significant dependency given ongoing supply constraints and the municipality's projected R1.4-billion shortfall. Another key concern she said remained the lack of stable leadership within the municipality. 'There have been 19 city managers mostly in an acting capacity since 2016, of which 15 have been since 2020. She added that the Chamber would continue lobbying across all levels of government for this critical post to be filled. She said that the Chamber's lobbying had already paid off in some key areas, including a recent win on fuel pricing disparities. In the last quarter of 2024 Nelson Mandela Bay was rezoned from coastal to inland, resulting in higher fuel prices. This had since been reversed. 'This saved the local economy an irrecoverable loss of about R50-million a month over that period. This victory really highlights how easy rezoning can happen,' she said. Van Huyssteen also pointed to encouraging developments ahead, including a series of major events set to take place in the Bay in the coming months. Among them is the Naacam Show, a flagship event for the automotive sector, and the SA Automotive Week. DM
