RETAIL SALES SURGE IN APRIL

Consumer spending began 2Q25 on a strong note, with retail sales rising by 5.1% y/y in April—up from a revised 1.2% in March (previously 1.5%), and significantly above market expectations of a 3.1% increase. On a monthly basis, retail volumes rebounded by 0.9%, following a 0.3% decline in March. Despite April’s strong performance, retail activity…

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STANDARD BANK LAUNCHES SOUTHERN AFRICA’S FIRST SHARI’AH-COMPLIANT OVERDRAFT

Africa’s biggest lender, Standard Bank, has launched the first-ever Shari’ah-compliant overdraft facility in Southern Africa, marking a transformative milestone for Islamic Finance on the continent. Designed to empower business owners with more Shari’ah-compliant solutions, the product adds to a long list of Standard Bank’s innovative solutions to meet the unique needs of Africa’s growing demand…

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