Africa Economics Weekly Naira plunges, SA budget, Uganda/Kenya late cuts The devaluation of the naira this week may be a sign that there’s fresh impetus to Nigeria’s policy shift, which had been stalling. A key test will come at the (long-overdue) central bank meeting... 2nd February 2024 · 6 mins read
Africa Chart Pack Africa Chart Pack (Jan. 2024) Economic growth in Sub-Saharan Africa is set to strengthen over 2024-25 as the external backdrop turns more favourable and, in some places, the drag from high inflation eases. But this boost will be... 31st January 2024 · 0 mins read
Africa Economics Weekly SA rates, Kenya debt swap, Nigeria loans Remarks this week from SARB Governor Kganyago increase the chances of interest rates in South Africa staying high for longer, particularly if fiscal risks build ahead of the election. Kenya, meanwhile... 19th January 2024 · 7 mins read
Africa Rapid Response Nigeria Consumer Prices (Dec.) Nigeria’s headline inflation rate rose again to 28.9% y/y in December, as a weak naira continues to push up prices. Aggressive interest rate hikes are long overdue in order to bring inflation under... 15th January 2024 · 2 mins read
Africa Economics Weekly South Africa IRP, Transnet cash, World Bank optimism South Africa presented its draft energy plan, which brought bad news to those concerned about loadshedding and the commitment to reducing greenhouse gas emissions. Meanwhile, the country’s finance... 12th January 2024 · 6 mins read
Africa Economics Weekly Nigeria deficit, Ethiopia-Somalia tensions, Kenya GDP Nigeria’s 2024 budget, signed into law this week, included encouraging signs that the government will cease deficit monetisation, providing hope that the Tinubu administration’s reform momentum hasn’t... 5th January 2024 · 5 mins read
Africa Economics Update Nigeria: refineries to help but not solve external strains Output from Nigeria’s oil refinery sector has been in terminal decline, inflating the fuel import bill at a time when the economy is already suffering from a shortage of hard currency. The new Dangote... 4th January 2024 · 5 mins read
Africa Economics Weekly Zambia IMF deal, Angola leaves OPEC, DRC elections Zambia’s continued progress with fiscal consolidation is paying dividends. It unlocked the latest tranche of its IMF deal this week and its compliance with the Fund’s targets may help to progress debt... 22nd December 2023 · 5 mins read
Africa Chart Pack Africa Chart Pack (Dec. 2023) Economic growth in Sub-Saharan Africa is set to strengthen over 2024-25 as the external backdrop turns more favourable and, in some places, the drag from high inflation eases. But growth will be... 18th December 2023 · 0 mins read
Africa Rapid Response Nigeria Consumer Prices (Nov.) Nigeria’s headline inflation rate rose further to reach 28.2% y/y in November, as the naira’s weakening continued to pass through. Aggressive interest rate hikes are needed to stabilise tackle... 15th December 2023 · 2 mins read
Africa Economic Outlook A tepid recovery Economic growth in Sub-Saharan Africa is set to strengthen over 2024-25 as the external backdrop turns more favourable and, in most places, the drag from high inflation eases. But growth will be... 7th December 2023 · 21 mins read
Africa Chart Pack Africa Chart Pack (Nov. 2023) Our Africa Chart Pack has been updated with the latest data and our analysis of recent developments. Economic growth across Sub-Saharan Africa is likely to pick up in 2024, but a challenging external... 28th November 2023 · 1 min read
Africa Economics Weekly Nigeria resists hikes, Zambia debt, Transnet problems Zambia and Angola raised interest rates this week in response to high inflation, but Nigeria didn’t. Indeed, the scheduled CBN meeting for this week didn’t even take place. The Bank now has its work... 24th November 2023 · 6 mins read
Africa Rapid Response Nigeria GDP (Q3) Nigeria’s economic growth was unchanged at 2.5% y/y in Q3 as a smaller drag from the oil sector offset a slowdown in the rest of the economy. Growth is likely to slow over the coming quarters, as the... 24th November 2023 · 2 mins read
Africa Rapid Response Nigeria Consumer Prices (October.) Nigeria’s headline inflation accelerated again to 27.3% y/y in September, as the removal of fuel subsidies and the naira’s struggles continued to feed through. The central bank will need to respond... 15th November 2023 · 2 mins read
Africa Economics Weekly Kenya default risks fall, Dangote oil refinery ramps-up Kenya’s partial payment of its $2bn Eurobond will improve its chances of avoiding a sovereign default next year. Extra IMF funds and an improved balance of payment position will also help, but... 10th November 2023 · 7 mins read
