Africa Economic Outlook Cracks emerge in the “Africa Rising” story The long-run growth outlook for sub-Saharan Africa (SSA) remains good, but recent developments have caused cracks to emerge in the “Africa Rising” story. Budget and current account positions have... 15th August 2014 · 1 min read
Africa Chart Pack Tightening cycles have further to run The tightening cycles that began in Ghana and South Africa earlier this year continued in July and, in both cases, we think that further interest rate hikes are likely before the end of 2014. Ghana’s... 31st July 2014 · 1 min read
Africa Economics Update Nigerian rates on hold as elections muddy the waters The Central Bank of Nigeria (CBN) kept interest rates on hold at 12.0% today in what was Godwin Emefiele’s first meeting as governor. Looking ahead, rising inflation suggests that policy tightening is... 22nd July 2014 · 1 min read
Africa Economics Update A look ahead to the Nigerian elections With President Goodluck Jonathan soon expected to announce his bid to run for another term in office, attention is quickly turning to Nigeria’s general election, which is now just over six months away... 15th July 2014 · 1 min read
Africa Chart Pack Zambia turns to the IMF – could Ghana follow suit? As the tailwinds from the past decade’s commodity boom fade, several economies in Africa are losing their shine. Zambia remains the focus of attention – faced with widening twin budget and current... 26th June 2014 · 1 min read
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 Modest interest rate hikes still likely in Nigeria The Central Bank of Nigeria (CBN) kept interest rates on hold at 12.0% today but, with inflation likely to accelerate and the naira likely to come under renewed pressure over the coming months, modest... 20th 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 Chart Pack Nigeria rises to top of the pile Following significant revisions to historical GDP data, Nigeria was confirmed as the largest economy in Africa earlier this month. Measured GDP has almost doubled to US$510bn, placing Nigeria... 29th April 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 Economics Update The regional implications of Nigeria’s GDP revisions Revisions to measured GDP in Nigeria means the country now has a larger weight in regional GDP, accounting for a third of sub-Saharan Africa’s (SSA’s) economy. Given that Nigeria is likely to... 8th April 2014 · 1 min read
Africa Economics Update GDP revisions push Nigeria to top of the pile in Africa Measured GDP in Nigeria has almost doubled as a result of methodology changes announced this weekend, confirming it as the region’s largest economy and highlighting the significant development of the... 7th April 2014 · 1 min read
