South Africa: Repo Rate Hike Hits Homeowners Hard - South African News Briefs - January 27, 2023

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27 January 2023
allAfrica.com
By Andre van Wyk

Cape Town — Repo Rate Hike to Hit Homeowners' Wallets Hard

The Reserve Bank's repo rate increase of 25 basis points will require homeowners to dig deeper to pay off their bonds, Eyewitness News reports. A five-member committee of the bank factored in high inflation, power cuts and poor economic growth as reasons for the 7.25% increase.

Amazon Postpones Launch of South African Marketplace

Initially slated for a February 2023 opening, Amazon has decided to delay its South African marketplace until the end of 2023, Business Tech reports. This comes after Amazon CEO Andy Jassy announced that the eCommerce giant was focusing on costs which included the dismissal of over 18,000 employees. Sources also claim that plans for the Nigerian marketplace opening have been paused.

Bafana Star Scores Major Transfer to English Championship Club

The English Championship log leaders have announced that Bafana Bafana forward Lyle Foster will be be transferred from KVC Westerlo in Belgium to Burnley FC, Times Live reports. The deal, estimated to be €7 million (R131 million) with the potential of reaching €10 million (R187 million) if Burnley are promoted to the Premier League, would set a new record in transfer fees for a South African player. An official statement from Burnley said that Foster was joining the English club at "an undisclosed fee".

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