Africa Economics Update Nigerian naira under fire A number of African currencies have struggled this month, with the Nigerian naira hit hardest as the central bank has scaled back its FX intervention dramatically. Nigeria’s bonds have also sold off... 19th November 2014 · 1 min read
Africa Economics Update Naira’s decline increases chance of a rate hike The sharp fall in the Nigerian naira today probably reflects reduced intervention by the central bank, and increases the probability that policymakers will raise interest rates later this month. We... 6th November 2014 · 1 min read
Africa Economics Update Weaker currencies add to need for tighter monetary policy African currencies have not been immune to the recent sell-off in EM financial markets, raising concern in some countries about rising inflation. In this Watch, we examine which economies are likely... 7th October 2014 · 1 min read
Africa Economics Update Effect of slowdown in China to differ across Africa Stronger trade and investment links mean that Sub-Saharan Africa’s economy as a whole is more exposed to China’s than ever before. We forecast China’s economic growth to slow over the next few years... 3rd October 2014 · 1 min read
Africa Chart Pack South Africa comes back into the firing line The South African rand has come under pressure this month as renewed attention on monetary tightening in the US has put the country’s large current account deficit back into the spotlight. The latest... 29th September 2014 · 1 min read
Africa Economics Update Ghana’s markets rebound, but SA’s take a tumble Ghana’s markets have rallied in response to the news that the government has turned to the IMF for support, with the currency strengthening and the yields of dollar-denominated bonds falling this... 26th September 2014 · 1 min read
Africa Economics Update Nigeria's export sector to continue dragging on growth The weakness of Nigeria’s export sector is down to a variety of factors, including a lack of competitiveness, falling oil prices and the expansion of shale oil extraction in the US. These factors... 22nd September 2014 · 1 min read
Africa Economics Update Nigerian rates likely to remain unchanged until after election The Central Bank of Nigeria (CBN) kept interest rates on hold today and we do not expect any major shifts in the stance of monetary policy in the near term. The risks to inflation are skewed to the... 19th September 2014 · 1 min read
Africa Chart Pack Weaker growth looms for twin deficit countries Ghana’s authorities bowed to the inevitable earlier this month by formally requesting assistance from the IMF in dealing with the country’s enormous twin budget and current account deficits. This... 29th August 2014 · 1 min read
Africa Economics Update South African markets shrug off bank downgrades South African markets appear to have taken the collapse of African Bank and the subsequent decision by Moody’s to downgrade the ratings of the country’s four largest banks in their stride. Local... 21st August 2014 · 1 min read
Africa Economics Update Glimmers of hope for reform of South Africa’s labour market South Africa’s labour market rigidities have been a key constraint on economic growth over the past few years, but some recent developments have given glimmers of hope that much-needed reform can be... 20th August 2014 · 1 min read
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
