Africa Data Response Nigeria Consumer Prices (Jul. '24) Nigeria’s headline inflation rate eased to 33.4% in July, the first time it had slowed in 18 months, as the passthrough from previous naira falls has finally started to faded. With inflation having... 15th August 2024 · 2 mins read
Africa Economics Update South Africa experiencing a two speed recovery South African economy looks to have recorded a pick-up in growth in Q2, but the recovery is operating at two speeds with retail sales and manufacturing on the up, while the mining sector remains a... 14th August 2024 · 2 mins read
Africa Economics Weekly Market turmoil and Africa, Uganda and Kenya rate cuts Idiosyncratic factors seemed to play a bigger role than the recent global financial market turmoil in driving African markets this week. But while the fall in oil prices may be overdone, African... 9th August 2024 · 7 mins read
Africa Economics Update SSA protests will worsen public finance strains Protests that originated in Kenya have spread to neighbouring Uganda and as far afield as Nigeria. The common theme of a weak economic backdrop, endemic corruption and fiscal fears means the region is... 7th August 2024 · 4 mins read
Africa Economics Weekly Nigeria ways & means, Ethiopia devaluation, SA PMI Nigeria’s government increased the limit of its Ways and Means facility this week, raising concerns that officials are resorting to their bad old ways of deficit monetisation. If tapped persistently... 2nd August 2024 · 5 mins read
Emerging Markets Financial Risk Monitor EM Financial Risk Monitor (Aug. 2024) Financial vulnerabilities have continued to ease across EMs. Our EM aggregate currency crisis risk indicator hit a multi-year low in Q2, with especially large falls in Turkey and Pakistan. Sovereign... 1st August 2024 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Jul.) South Africa’s manufacturing PMI jumped in July, suggesting that improving electricity supply conditions and reduced political uncertainty are starting to support activity. While the economy may... 1st August 2024 · 2 mins read
Africa Chart Pack Africa Chart Pack (Jul. 2024) GDP growth is likely to pick up over the coming quarters as inflation falls back in most SSA economies and monetary easing cycles broaden out. The external environment will remain challenging... 31st July 2024 · 0 mins read
Africa Economics Update Weak demand holding back S. Africa’s economy The fading drag from load-shedding was widely expected to allow a recovery in South Africa’s economy this year, but this hasn’t materialised. We think that weak demand is to blame, itself a symptom of... 31st July 2024 · 4 mins read
Africa Economics Weekly Biden calls for AGOA extension, SA inflation The 21st Forum on the African Growth and Opportunities Act (AGOA) took place in Washington this week with attention focussed on not only extending the legislation but also improving it in light of... 26th July 2024 · 5 mins read
Africa Data Response South Africa Consumer Prices (Jun.) South Africa’s headline inflation rate edged down to 5.1% y/y in June and with core inflation returning to the mid-point of the SARB’s 3-6% target range, we think the SARB will be in position to... 24th July 2024 · 2 mins read
Africa Economics Weekly Nigeria spending, SA investment, SARB to cut soon Nigeria announced plans this week to raise 2024 budget spending again. Funding will come via a windfall tax on bank profits, but more measures will be needed to permanently boost revenues if Nigeria’s... 19th July 2024 · 7 mins read
Africa Economics Update SARB opens the door to rate cuts The South African Reserve Bank’s decision to leave its repo rate unchanged at 8.25% was of little surprise but there was increased optimism on the MPC that inflation is moving towards the 4.5% mid... 18th July 2024 · 3 mins read
