JIBAR

Okay kiddo, so have you ever heard of something called interest rates? It's like the extra money you have to pay back when you borrow money from someone. Jibar is just a fancy name for one of those interest rates in South Africa.

Basically, there are a group of important people who come together and decide what the jibar rate should be. They look at a lot of different things like how much it costs people to borrow money and how much money banks have to lend out. And then they decide on a number that they think is fair.

This jibar rate is important because it affects how much money people have to pay back when they borrow money. If the jibar rate is high, then people might have to pay back more money than they originally borrowed. But if the jibar rate is low, then people might not have to pay back as much.

So that's what jibar is, just a fancy word for an interest rate that helps decide how much people have to pay back when they borrow money.