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January Brings Shift In Financial Flow: Deposits Down, Loans Mixed

by News Editor
February 28, 2025

In a notable reversal from the previous month, January 2025 witnessed a net decrease in total deposits by €211.3 million, contrasting sharply with December 2024’s net increase of €977.4 million, according to the latest data from the Central Bank of Cyprus.

The decline was reflected in the annual growth rate of deposits, which stood at 6.9%, slightly up from 6.6% in December 2024, bringing the total outstanding deposits to €55.7 billion. This January decrease was particularly noted among Cyprus residents, who saw a drop of €81.2 million. Despite this, household deposits actually rose by €111.1 million, while non-financial corporations’ deposits fell by €57.1 million.

Conversely, total loans experienced a net decrease of €45.6 million, a stark contrast to the €503.2 million increase in December 2024. Yet, the annual growth rate of loans rose to 3.2%, up from 2.8% in December. Loans to households decreased by €10.2 million, while those to non-financial corporations showed a promising increase of €64.4 million.

For those keen on Cyprus’ emerging innovation sectors, our related article offers an insightful look at the island’s broader economic potential—unlocking opportunities that extend well beyond traditional financial metrics.

Microsoft Bets Big On South Africa With $297M AI And Cloud Investment

by THEFUTURE.TEAM
March 7, 2025

Microsoft is doubling down on its commitment to South Africa, pledging an additional 5.4 billion rand ($297 million) by 2027 to expand its cloud and AI infrastructure in the country.

The announcement, made by Vice Chairman Brad Smith in Johannesburg, comes ahead of a key South African investment conference and adds to the 20.4 billion rand Microsoft has already poured into Africa’s most industrialized economy.

Driving Growth Through AI And Talent

Beyond boosting infrastructure, Microsoft is making a play for South Africa’s digital future. Over the next year, the tech giant will fund certification exams for 50,000 young people, equipping them with in-demand digital skills to fuel economic growth and innovation.

South Africa has struggled with sluggish economic expansion—averaging under 1% growth annually for more than a decade—and is actively courting private-sector investment to accelerate momentum.

Big Tech’s Race For Africa

Microsoft was an early mover in South Africa’s cloud computing race, launching data centers in Johannesburg and Cape Town long before Amazon and Google entered the market. The company is now ramping up capacity with a new facility in Centurion, Gauteng, while also spearheading a $1 billion geothermal-powered data center in Kenya.

President Cyril Ramaphosa welcomed the move, calling Microsoft’s investment a vote of confidence in South Africa’s economic potential. “This company really has an African heart,” he said, underscoring the country’s efforts to position itself as a prime destination for global tech investment.

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