The Johannesburg Stock Exchange (JSE) all-share index is at its highest since May 2008 and could reach an all-time high in the near future.
At the end of a good year for both industrial and precious metals the gold price came close to a new record high, the silver price hit a thirty-year peak and copper hit an all-time high.
When President Donald Kaberuka welcomed the Board of Directors in January 2010, he sounded a strong note that “the year would be extremely challenging as the Bank needed to mobilize additional capital for both the African Development Bank (AfDB) and African Development Fund (ADF) at a moment of scarce resources”.
An meeting over the weekend in Basel in Switzerland resulted in a new set of capital adequacy rules that will be imposed on banks all over the world. The agreement will more than double the amount of top-quality capital banks must hold in an effort to make the sector more resilient to volatile asset prices and credit risk.