Africa Economics Update A look ahead to the South African elections The key political event in sub-Saharan Africa this year is the elections for the presidency and national assembly in South Africa. Although it seems likely that Jacob Zuma will be re-elected as... 16th January 2014 · 1 min read
Africa Economics Update South African manufacturers face another difficult year The fall in South Africa’s latest manufacturing PMI reading suggests that the sector ended 2013 on a soft note. Looking ahead, a gradual improvement in growth in the euro-zone should provide a boost... 15th January 2014 · 1 min read
Africa Economics Update Kenyan rate hikes possible later this year The Central Bank of Kenya (CBK) kept interest rates on hold today and, with inflation likely to ease over the coming months, there is no immediate pressure to tighten policy. But a large current... 14th January 2014 · 1 min read
Africa Economics Update Inflation unlikely to be a major threat in 2014 Inflation across sub-Saharan Africa is likely to remain broadly stable in 2014. Admittedly, the region is more susceptible than other EM regions to food price shocks related to drought. But in the... 9th January 2014 · 1 min read
Africa Economics Update South Africa: another tough year ahead The South African economy grew at its second-slowest pace in 15 years in 2013. Growth should accelerate this year but, by the same token, a significant turnaround in performance seems unlikely. We are... 8th January 2014 · 1 min read
Africa Economics Update Remittance inflows could take the edge off current account concerns Concerns have been raised about the impact of less accommodative global monetary policy on capital flows to sub-Saharan Africa (SSA), but one factor that often gets overlooked is that of overseas... 17th December 2013 · 1 min read
Africa Economics Update Rand set to weaken further next year The key development in African financial markets over the course of 2013 has been the slump in the South African rand, which has depreciated by more than 20% against the US dollar. But while most of... 12th December 2013 · 1 min read
Africa Economics Update Nelson Mandela’s economic legacy Nelson Mandela’s role in the political development of South Africa is unquestionable, but significant economic progress was also made under his leadership. However, this is now in danger of being... 6th December 2013 · 1 min read
Africa Economics Update Capital outflows from Nigeria could become a risk A sizeable current account surplus means that capital outflows from Nigeria are not a cause for concern at the moment. However, a sustained fall in oil prices, as well as the appointment of a more... 4th December 2013 · 1 min read
Africa Economics Update South Africa’s current account deficit balloons in Q3 South Africa’s current account deficit widened to its largest level since 2008 in Q3. What’s more, the shortfall continues to be funded in large part by short-term capital inflows. As such, the... 3rd December 2013 · 1 min read
Africa Economics Update South African PMI picks up but challenges still remain Following the sharp contraction in South African manufacturing in Q3, the latest PMI reading suggests that the sector may have staged a rebound so far in Q4. Nevertheless, a number of domestic... 2nd December 2013 · 1 min read
Africa Economics Update Ghana set to tighten monetary policy next year The Central Bank of Ghana kept interest rates on hold today, but the tepid pace of fiscal consolidation and a weakening currency mean that monetary policy is likely to be tightened over the coming... 27th November 2013 · 1 min read
Africa Economics Update South African GDP growth slumps in Q3 The South African economy slumped in Q3 to record its slowest quarterly pace of growth since 2009, and the outlook for the coming quarters remains lacklustre. To compound matters, the weakness of the... 26th November 2013 · 1 min read
Africa Economics Update Currencies likely to face renewed pressure African currencies have remained broadly stable over the past month or so but, looking ahead, the general trend is likely to be one of weakness against the US dollar over the next year. In particular... 25th November 2013 · 1 min read
Africa Economics Update The SARB’s hands are tied The South African Reserve Bank (SARB) left rates on hold today but gave its clearest indication yet that the next move in interest rates will be up. The renewed slump in economic growth means that the... 21st November 2013 · 1 min read
Africa Economics Update Fiscal concerns to prompt rate hikes in Nigeria next year It is fitting that Nigeria’s Budget Proposal for 2014 has been delayed again on a day where the Central Bank has voiced its concerns over fiscal slippage. Low inflation means the Central Bank has... 19th November 2013 · 1 min read
