Latest Analysis
Fixed Income Daily: Bond market and currency metrics for African capital markets
Mauritius - The advance in inflation renders the real interest rates deep in negative territory, with system liquidity factors playing a role in this regard. The apex bank has sought to absorb the str...
Daily Africa Insight: An overview of today’s key events and developments
Egypt – A strong performance across most sectors. Ethiopia – State of emergency lifted, indirect talks underway. Namibia – Inflation rises to new three-year high in January. Nigeria – Inflation remain...
Fiscal coffers recover as oil prices and steady production provide reprieve
We forecast Libya’s economy to grow by 17.6% this year on the back of a rapid rebound in local crude oil production (the economy’s mainstay) and high international oil prices. Political tensions remai...
Talking Point: South Africa – Retail sales end 2021 on the front foot
Seasonally adjusted retail trade sales rose by 1.5% m-o-m in December, following a monthly rise of 1.6% in November. On an annual basis, retail trade sales rose by 3.1%, somewhat higher than the conse...
Talking Point: Ethiopia – State of emergency lifted, indirect talks underway
On Tuesday, February 15, Parliament voted in favour of lifting the country’s state of emergency three months ahead of schedule. A six-month state of emergency was declared by Prime Minister Abiy Ahmed...
Talking Point: South Africa – Inflation eases slightly in January
Consumer price index (CPI) inflation moderated both in annual and monthly terms in January. Specifically, headline inflation came in at 5.7% y-o-y compared to the 5.9% y-o-y recorded at the end of 202...
Talking Point: South Africa – Ramaphosa writes to Parliament, not called to testify
Parliament’s Standing Committee on Public Accounts (Scopa) confirmed on Wednesday, February 16, that President Cyril Ramaphosa responded in writing to a series of questions sent to him in late January...
Talking Point: Namibia – Inflation rises to new three-year high in January
Fuel prices drove headline inflation to a three-year high in January – a trend that will persist over the coming months. Consumer price index (CPI) inflation ticked higher to 4.6% y-o-y in January fro...
Flight ban removal sees more upbeat economic outlook than last quarter
The economy successfully emerged from the crisis in 2021, with output levels recovering to pre-pandemic levels − largely supported by a bumper cereal harvest. While the non-agricultural sector also ex...
Talking Point: Nigeria – Inflation remained unchanged in January
According to the latest data released by the National Bureau of Statistics (NBS), consumer price index (CPI) inflation remained unchanged last month and was recorded at 15.6% y-o-y in both December 20...
Talking Point: Egypt – A strong performance across most sectors
According to the latest data from the Central Bank of Egypt (CBE), gross value added (GVA, which is equal to GDP minus indirect taxes plus subsidies) increased by 5.9% y-o-y over the first three quart...
Research Briefing: South Africa – Budget 2022: When the economy’s bottom falls out
President Cyril Ramaphosa’s State of the Nation Address (Sona) again contained some positive signs of a change in policy direction. The provision of some timelines is another source of encouragement....
Fixed Income Daily: Bond market and currency metrics for African capital markets
Côte d’Ivoire - We anticipate another strong showing by Côte d’Ivoire in 2022 as demand for the country’s main export commodity begins to recover following a Covid-19-induced slump. The effects of the...
Daily Africa Insight: An overview of today’s key events and developments
Ghana – Anti-government activist charged with treason. Senegal – Casamance rebels free captive soldiers. Uganda – MPC keeps rates unchanged. West Africa – Operation Barkhane and its discontents.
Featured African Economic Insights
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.#Angola crude #oil production dipped for the second-consecutive month in March. Nevertheless, oil output did improve slightly in Q1 2022 as a whole compared with Q1 2021.
President Ouattara of #Cotedivore has named a vice-president: Tiemoko Meyliet Koné, an economist who has spent most of his career at the West African central bank, the BCEAO. The nomination is positive from the point of view of governance.
.#SouthAfrica headline inflation rate came in at 5.9% y-o-y in March, 0.2 ppt higher than the previous month. The March inflation print was slightly lower than the consensus forecast of 6.0% y-o-y.
In its WEO for April the #IMF makes downward revisions to the global growth outlook in response to the war in Ukraine. #Africa is an exception: the Fund’s view of growth in sub-Saharan Africa is unchanged since October. But the outlook for the price environment is bleak.
Inflation in #Sudan rose to 263.2% y-o-y in March. The October coup d'état has sent the already fragile economy into free fall. Living standards are rapidly deteriorating as prices continue to soar, and 18 million people are at risk of facing food insecurity in coming months.
.#Angola #inflation rate dips slightly in March, marking the second-straight disinflation reading this year. The stronger kwanza should give consumers some reprieve this year.
The number of #tourists visiting #Mauritius rose to 66,066 in March as Covid-19 restrictions were relaxed and pandemic-related fears became more of a faint memory.
The #inflation outlook in #Nigeria deteriorated over the past month as the headline print rose to 15.9% y-o-y due to food and fuel prices pressures. Inflation should continue trending upwards throughout Q2 and Q3, averaging above 16.0% this year.
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