Africa Economics Update Concerns over policy credibility emerge in Nigeria Concerns over policy credibility in Nigeria have surfaced over the past month. The Central Bank’s (CBN’s) new governor Godwin Emefiele recently hinted at moves towards looser monetary policy, despite... 17th June 2014 · 1 min read
Africa Economic Outlook Growing pains Sub-Saharan Africa (SSA) is likely to remain one of the world’s best performing regions over the next couple of years but, in a number of countries, growing pains are starting to emerge. Budget and... 6th June 2014 · 1 min read
Africa Chart Pack Ghana and Zambia still in the firing line In line with the general rally in EM financial markets over the past couple of months, the South African rand has posted significant gains against the US$ of late. But the rally has not spread to a... 29th May 2014 · 1 min read
Africa Economics Update Another leg down for currencies Most currencies in Africa have posted substantial losses against the US dollar over the past month, with the Ghanaian cedi and Zambian kwacha slumping to record lows. What’s more, there are a number... 23rd May 2014 · 1 min read
Africa Economics Update Long-run prospects remain upbeat despite growing political concerns The apparent re-emergence of political risk in a number of countries in sub-Saharan Africa (SSA) over the past couple of months has led some commentators to question the region’s longer-term growth... 16th May 2014 · 1 min read
Africa Economics Update Markets regain some composure after Q1 rout Following a woeful Q1, financial markets in Africa have stabilised in the early part of Q2. In most countries, bond yields have edged down and currencies have made modest gains. Nevertheless, there... 17th April 2014 · 1 min read
Africa Economics Update IMF’s new growth forecasts underscore growing vulnerabilities The IMF last week made significant downward revisions to its economic growth forecasts for sub- Saharan Africa (SSA) for 2014-15, leaving them close in line with our own. Indeed, this is another sign... 16th April 2014 · 1 min read
Africa Chart Pack Effects of China’s slowdown to vary across the region Concerns over the impact on sub-Saharan Africa (SSA) of a further slowdown in China have resurfaced over the past couple of weeks. While we do not expect China to experience a hard landing, we do... 28th March 2014 · 1 min read
Africa Economics Update Currencies continue to tumble The Zambian kwacha has become the latest African currency to come under fire, and has this month slumped to an all-time low against the US$. This follows similar falls in the Ghanaian cedi and... 20th March 2014 · 1 min read
Africa Economics Update Regional vulnerabilities rising, but differentiation is needed Clouds have gathered over the outlook for sub-Saharan Africa (SSA) over the past few months due to growing concerns over widening twin budget and current account deficits and the effects of a slowdown... 19th March 2014 · 1 min read
Africa Economics Update EM currency turmoil spreads to Africa The recent turbulence in EM currency markets has spread to some of Africa’s major economies, with the Ghanaian cedi and Nigerian naira slumping to all-time lows against the US$ this month. The South... 21st February 2014 · 1 min read
Africa Economics Update Time to revisit Africa’s growth story? Signs that the recent turbulence in EM markets is spreading to sub-Saharan Africa (SSA) have caused some to question the region’s upbeat growth story. But while some vulnerabilities are building and a... 20th February 2014 · 1 min read
Africa Chart Pack South Africa tightens policy, others may soon follow suit The South African Reserve Bank responded to the turmoil in EM currency markets by unexpectedly hiking interest rates this month. Rates were raised by 50bp to 5.50% and, looking ahead, we think policy... 31st January 2014 · 1 min read
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 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 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
