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Daily Africa Insight: An overview of today’s key events and developments
Angola – Rapidly rising hunger amid worst drought in 40 years. Botswana – Trade deficit widens in May. Ethiopia – Escalating regional tensions disrupt trade route. Gabon – IMF staff-level agreement ge...
Weekly Africa Insight: Overview of the past week’s political and macroeconomic developments
Africa – Weekly Covid-19 update, July 23 (Jul 23). Algeria – Weak currency and drought fuel food price inflation (Jul 27). Algeria – Crude oil production increased in June (Jul 23). Angola – Rapidly...
Lesotho Annual Country Profile: Economic growth revised lower in the wake of unrest in South Africa and pandemic-related disruptions
We have revised our outlook for economic growth downwards to 2.5% in 2021, compared with our previous forecast of 3.8%, due to the tightening of lockdown restrictions which will place the balance shee...
Talking Point: Botswana – Trade deficit widens in May
The trade deficit widened to $243.7m in May 2021 compared with a revised deficit of $176.9m in April, according to Statistics Botswana’s (StatsBots) latest data release. Exports fell from $453.1m in A...
Talking Point: Kenya – Coalition talks as opposition plots challenge to Ruto
The momentum building behind Deputy President William Ruto's 2022 presidential bid is forcing those intent on thwarting his challenge into coalition talks. This followed a narrow win for the United De...
Talking Point: South Africa – Factory gate price pressures intensify in June
Price pressures at the factory gate accelerated even further in June, according to Statistics South Africa’s (StatsSA) latest producer price index (PPI) report. The headline index rose by 0.8% m-o-m i...
Talking Point: Kenya – MPC keeps rates on hold, not concerned about inflation
The Central Bank of Kenya’s (CBK) Monetary Policy Committee (MPC) kept the benchmark interest rate unchanged at 7% during its latest meeting. The decision to hold was in line with consensus, and the C...
Talking Point: South Africa – National Treasury unveils relief package
After assessing the damage of the recent unrest in certain parts of the country, National Treasury has announced a R38.8bn relief package aimed at the poor and for business support. Notably, Treasury...
Talking Point: South Africa – Credit extension to corporates deteriorated in June
Surprisingly, private sector credit growth worsened in June and remained in negative territory. The annual growth rate for total private sector credit deteriorated to -0.5% in June, from -0.4% in May...
Talking Point: Ethiopia – Escalating regional tensions disrupt trade route
The years-long conflict between Afar and Somali regions rooted in a territorial dispute has escalated in recent days, culminating in the blocking of the pivotal Ethiopia-Djibouti trade route. This tra...
Talking Point: Gabon – IMF staff-level agreement gets final signoff
On Wednesday, July 28, the IMF issued a statement confirming that its staff-level agreement with Gabon has been approved by the Fund’s executive board. The country will benefit from a three-year progr...
Talking Point: Angola – Rapidly rising hunger amid worst drought in 40 years
Angola’s southwestern provinces are experiencing the worst drought in 40 years, according to the United Nations World Food Programme (WFP). The drought has driven more than 10,000 Angolans to seek ref...
Talking Point: Malawi – Mutharika plays cat and mouse with anti-graft committee
On Wednesday, July 28, the Anti-Corruption Bureau (ACB) suspended its interrogation of former President Peter Mutharika once again. The engagement was meant to take place on July 20, but it was postpo...
SA Daily Economic Report: Morning market update
Treasury unveils relief package Rand runs out of steam FOMC: Not yet substantial, but progress toward tapering US economic outperformance drives goods trade deficit wider in June
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.#Egypt's Purchasing Managers’ Index (PMI) came in at 49.9 points in June, up slightly from 48.6 points in May. Although this marks an improvement, the index remains slightly below the 50-point level, signalling a continued contraction in the non-oil sector.
Prime Minister Abiy Ahmed tells #Ethiopia's parliament that federal troops completed a strategic withdrawal from Tigray rather than being displaced by a rebel advance. Meanwhile, the TPLF has laid out the conditions for it to accept a ceasefire.
.#Kenya PMI came in at 51 in June, down from the 52.5 recorded the month before.
.#Lesotho’s economy contracted by 13.8% in Q1 2021 compared with a contraction of 9.4% in Q4 2020, as stricter lockdown restrictions in January take their toll.
Violent pro-democracy protests have rocked the kingdom of #eSwatini for a week now. The state has muzzled the media and imposed an internet shutdown, making reporting on the situation difficult. Dozens of people have reportedly been killed.
Private sector sentiment declined to a 14-month low in #Ghana in June. This deterioration is largely due to rising cost pressures as fuel, transportation and wage costs in the country continue to rise.
As #Namibia suffers through a terrible third wave of #Covid19, credit extension growth and other high-frequency economic indicators have remained lacklustre in the first five months of 2021, which dims the growth outlook for this year.
Due to the imposition of a 42-day lockdown in #Uganda its private sector activity nosedived in June as measured in the latest purchasing managers’ index (PMI).
In the Media
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Africa Economic Insight
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