South Africa introduces Deposit Insurance

Interesting to note that South Africa did not have Deposit insurance till date.

The central bank has floated a Corporation of Deposit Insurance. CODI provides cover of up to South African Rand 100,000 to each qualifying depositor per bank in the unlikely event of a bank’s collapse. This coverage limit fully protects 9 out of 10 qualifying depositors in the country.

Will ZIG end hyperinflation in Zimbabwe?

Zimbabwe central bank recently announced a new currency named ZIG or Zimbabwe Gold.

My new piece in Deccan Herald on whether the new currency will end the longstanding hyperinflation problem in Zimbabwe.