Tag: bnp paribas

BNP Paribas sees 4% contraction for SA’s economy

BNP Paribas has become the latest bank to downgrade its growth forecast for South Africa’s economy. The international bank now expects the economy to contract by 4 per cent versus a contraction of 1.2 per cent previously. Jeff Schultz, Senior Economist at BNP Paribas joins CNBC Africa to explain the banks change in outlook?

Moody’s to cut South Africa’s sovereign credit rating to junk – economists

Moody’s will cut South Africa’s sovereign credit rating later on Friday as a recession deepened by the impact of coronavirus frustrates economic reform efforts aimed at reducing government debt, a Reuters poll of economists found.

RCS buys Absa portion of Edcon store card debtors’ book

RCS a subsidiary of BNP Paribas has acquired the Absa funded portion of the Edcon Store Card debtor’s book. RCS has also secured the right to provide consumer finance products to Edcon customers. Grant Pattison, CEO of Edcon Group and Regan Adams, CEO of RCS Group join CNBC Africa for more.