Latest Analysis
Fixed Income Daily: Bond market and currency metrics for African capital markets
Mauritius – Demand-side pressures on inflation are also subdued amid stable real GDP growth and low employment growth. We expect the policy rate to remain unchanged at 3.35% until the end of 2019 but...
Daily Africa Insight: An overview of today’s key events and developments
Egypt: Another successful foray into international capital markets. Egypt: Policy rate cut to support private sector consumption. Rwanda: Inflation races higher in October. South Africa...
Talking Point: Egypt – Another successful foray into international capital markets
Egypt marked its third successful return to international capital markets this year (first time this fiscal year) with the issuance of a multi-tranche sovereign bond worth $2bn on November 13. The iss...
Talking Points: Egypt – Policy rate cut to support private sector consumption
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided at its most recent meeting on November 14 to cut key policy rates by 100 bps – the fourth time the CBE has eased policy r...
Talking Point: Rwanda – Inflation races higher in October
Price pressures continued to accelerate in October, driven by higher food and transport price inflation on a count of base effects. The All Rwanda sub-index rose by 7.2% y-o-y in October compared with...
Talking Point: South Africa – Key economic data & developments in coming weeks
Herewith a preview of some important data releases and the biannual review by S&P Global Ratings (S&P) which will be of significance in coming weeks.
Kenya Annual Country Profile: Economic growth is expected to ease to 5.5% this year, attributable to a slowdown in agriculture and spillover effects into manufacturing and consumption
The past quarter was an interesting one for Kenya with a couple of developments, one positive and another not so positive. On the upside, Kenyan authorities removed the interest rate cap regime, which...
Zambia Quarterly Update: Dire need for front-loaded fiscal adjustment hard to reconcile with pre-election pressures
Climate-driven disruption and hours-long power outages set a sombre backdrop as economic growth is forecast to slump to a multi-year low of 1.7% in 2019 from a revised 4.0% in 2018. Grappling with the...
SA Daily Economic Report: Morning market update
Mining production still in doldrums Signs of stabilisation in the eurozone but not improvement ZAR bucks global risk-off trend Oil prices rise following a surprise drop in US crude stockpiles
Weekly Africa Political Risk Report: Overview of the past week’s political developments
Franc zone: Free and franc discussions (Nov 13). Guinea: A red tide faces down Condé (Nov 8). Kenya: Bridges that divide (Nov 14). Malawi: From our Annual Country Profile (Nov 11).
Fixed Income Daily: Bond market and currency metrics for African capital markets
Egypt – Egypt marked another successful foray into international capital markets with the issuance of multi-tranche sovereign credit worth $2bn, including an introduction of 40-year maturity dubbed ‘t...
Daily Africa Insight: An overview of today’s key events and developments
DRC: Price pressures remain benign in October. Egypt: The suspicious rise of the Egyptian pound. Ghana: Walking a tight rope with limited buffers in the budget. Ghana: Inflation up in...
Weekly Africa Insight: Overview of the past week’s political and macroeconomic developments
Cameroon: GDP growth recorded at 4.2% in Q2 2019 (Nov 8). DRC: Price pressures remain benign in October (Nov 14). Egypt: The suspicious rise of the Egyptian pound (Nov 14). Egypt: Easi...
Talking Point: Ghana – Walking a tight rope with limited buffers in the budget
Finance Minister Ken Ofori-Atta has presented the 2020 budget proposal to Parliament. Looking back at the performance this year, we again witnessed sharp revisions to the projected outturn. Total fisc...
Featured African Economic Insights
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Latest Tweets
#Egypt marked its third successful return to international capital markets this year (first time this fiscal year) with the issuance of multi-tranche sovereign bond worth $2bn on November 13.
#SouthAfrica Business Maverick: Data suggests that SA’s economy contracted in Q3 dailymaverick.co.za/article/2019-1…
#Egypt Deceleration in pace of inflation in recent months supported the CBE's decision to cut key policy rates by 100 bps on November 14, bringing the cumulative rate cut to 450 bps this year. The most recent rate cut should provide further impetus for private sector consumption.
#Rwanda consumer prices rushed higher in October on account of rising food price inflation. We expect inflationary pressures will continue to build for the remainder of 2019.
#SouthAfrica Retail sales tick up 0.2% year-on-year in September on Apple Podcasts - goo.gl/alerts/qDJJp
#Ghana budget sees deficit at 4.7% of GDP, but revenue & spending to increase sharply despite persistent shortfalls in recent years. Authorities will have to walk a tight rope, and they haven’t done themselves any favours by failing to build enough buffers to soften possible slip
#DRC #Price pressures remained stable while CPI inflation increased slightly to 3.6% y-o-y in October 2019.
#SouthAfrica mining production still in doldrums, contracting in Q3.
#Egypt Since January, the Egyptian pound has gained 10% y-t-d against the greenback. Although an increase in capital inflows has helped buoy reserves and supported the currency, the data suggests something else may be driving the appreciation, questioning if CBE is intervening.
#Kenya Citizens are still waiting for the release of the Building Bridges Initiative final report. In the meantime, political temperatures are rising and a referendum on the BBI’s recommendations could see tempers boil over.
In the Media
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Get unparalleled economic and political insight for 29 African economies. Download up to three Research Briefings for free. Or, to get unlimited access to NKC African Economics' full database of briefings, commentary, daily analysis, high-quality research and data, request a free trial today.
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A detailed scenario analysis of different policy actions the Central Bank of Nigeria could take in response to the foreign exchange liquidity squeeze in 2016, the effects on foreign reserves to be expected under each, and the resulting consequences for firms needing to repatriate profits.