Africa Economics Update South African manufacturing continues to struggle On the face of it, South Africa’s manufacturing PMI for September appears consistent with a contraction in GDP in Q3. And while we would be hesitant to read too much into one month’s figures, the... 1st October 2012 · 1 min read
Africa Economics Update Weak Q2 growth to prompt further rate cuts in Kenya Weaker-than-expected second quarter growth in Kenya reinforces the case for further rate cuts at the central bank’s next meeting in November. While we expect a slight pick-up in the second half of the... 28th September 2012 · 1 min read
Africa Economics Update Kenyan growth to pick up but vulnerabilities persist Q2 GDP data for Kenya, due to be released this week, are likely to show a pick-up in growth from Q1, and we expect further acceleration in the second half of the year. However, the country remains... 24th September 2012 · 1 min read
Africa Economics Update South African rate cut still possible in November Although the South African Reserve Bank (SARB) kept its benchmark repo rate on hold at 5.00% today, we think that rate cuts could be back on the agenda as early as November this year. 20th September 2012 · 1 min read
Africa Economics Update Widening current account deficit adds to concerns in S. Africa The recent sharp widening of South Africa’s current account deficit adds to mounting concerns over the direction of the economy and is another reason to expect the rand to weaken over the next six... 19th September 2012 · 1 min read
Africa Economics Update Central Bank of Nigeria still in wait and see mode The Central Bank of Nigeria (CBN) kept interest rates on hold at 12.00% today and is likely to stay in wait and see mode over the coming months as the effects of a spike in global food prices feed... 18th September 2012 · 1 min read
Africa Economics Update Non-oil sector spurs modest pick-up in Nigerian growth The Nigerian economy picked up pace in the second quarter of this year, but problems in the oil sector mean that it is still growing below its potential. Nonetheless, with inflation remaining above... 17th September 2012 · 1 min read
Africa Economics Update Food inflation: no need to worry just yet The recent spike in global agricultural prices is likely to feed through to a pick-up in food inflation in most African economies in early 2013. But the shock to food inflation should be much smaller... 14th September 2012 · 1 min read
Africa Economics Update Positive medium-term outlook despite risks The ongoing unrest in South Africa’s mining sector has led many to question the medium-term economic outlook for sub-Saharan Africa (SSA), but we still believe the region has huge growth potential. In... 13th September 2012 · 1 min read
Africa Economics Update No quick fix for South Africa's mining sector The structural problems in South Africa’s mining sector have been brought starkly into focus by the ongoing bout of labour unrest. Although it is difficult to predict to how events will pan out from... 10th September 2012 · 1 min read
