The New Development Bank has approved a US$1 billion loan aimed at infrastructure modernization in South Africa, as announced during a meeting in Shanghai. Additionally, the Board of Directors welcomed Uzbekistan as a new member of the bank.

The City of Johannesburg has secured a loan of R3.8 billion aimed at addressing its electricity issues. The funds will be used to tackle the backlog in maintenance and major capital works, which is expected to take time to resolve.

President Ramaphosa announced that the South African government is investing R1 trillion to address youth unemployment. This initiative aims to create job opportunities and support the country's young population in finding employment.

According to TechCabal, South Africa's largest banks are adopting mobile services to enhance customer engagement and expand their user base. This shift is seen as a strategy to generate new revenue streams amid a stagnating banking market, as banks aim to integrate more deeply into customers' daily digital activities.

The Kenyan government has awarded a Sh154.2 billion contract to China Road and Bridge Corporation (CRBC) for the expansion and modernization of Jomo Kenyatta International Airport, according to Capital FM Business.

Visa, along with First National Bank (FNB) and Rand Merchant Bank (RMB), is focusing on the corporate cash market, following the trend of South Africans adopting digital payment methods at retail locations. The companies believe that businesses will increasingly move towards digital transactions, similar to consumer behavior.