EDITOR’S CHOICE

The payments clearing platform, Bankservafrica, said the slight improvement in the its Economic Transactions Index occurred against a fairly grim economic context in April of load shedding continuing unabatedly, interest rates and inflation remaining at elevated levels, and the global economic slowdown still prevalent. Therefore, the slight improvement signals the South African economy’s resilience, despite the ongoing challenges. While the Bankservafrica Economic Transactions Index (BETI) increased in April this year to an index level of 132.6, tracing back to the January 2023 level (132.9), it was still notably lower than a year earlier. The increase came after two consecutive monthly declines in the country. | IOL