South Africa's central bank raised interest rates by a quarter point to 7.25% for the second time this year as higher oil prices and persistent services inflation added to price pressures, according to Bloomberg.

Danelee Masia, Deutsche Bank South Africa CEO and chief economist for CEEMEA, spoke to Bloomberg's Jennifer Zabasajja on Horizons Middle East & Africa about the latest numbers and said he is concerned about South African growth next year.