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Daily Africa Insight: An overview of today’s key events and developments
Egypt – PMI falls to lowest level in nine months. Nigeria – The candidate list grows as parties near their conventions. Rwanda – Trade volume jumps in December despite Omicron shock. Tanzania – MPC no...
Weekly Africa Insight: Overview of the past week’s political and macroeconomic developments
Africa – Covid-19 update: Vaccine shelf life comes into focus (Jan 28). Angola – MPC holds interest rates as inflation set to ease in 2022 (Feb 1). Côte d’Ivoire – Industrial activity looks to carry m...
Talking Point: Rwanda – Trade volume jumps in December despite Omicron shock
The latest data published by the National Institute of Rwanda (NISR) shows that trade volumes for both imports and exports increased in December 2021. Imports rose by 15% m-o-m compared to November, w...
Talking Point: Uganda – Oil pipeline final investment decision taken
On Tuesday, February 1, French energy giant TotalEnergies and China National Offshore Oil Corporation (CNOOC) announced at a ceremony in Kampala that they have taken a final investment decision, with...
Talking Point: Egypt – PMI falls to lowest level in nine months
Egypt’s purchasing managers’ index (PMI) fell to its lowest level in nine months in January 2022, after moving closer to expansionary territory in the previous month. The index fell by 1.1 pts to 47.9...
Talking Point: Nigeria – The candidate list grows as parties near their conventions
With the ruling All Progressives Congress (APC) set to host its National Convention on February 26, the race to succeed incumbent President Muhammadu Buhari is heating up. Mr Buhari (79) is finishing...
Talking Point: Tunisia – Civil servants tense after missed salary payment
Delays in the payment of civil servants’ salaries are showing up stresses in public finances and diminishing President Kaïs Saïed’s legitimacy. Salaries for January were paid from the 22nd to the 31st...
Talking Point: Tanzania – MPC not concerned about rising inflationary pressures
The Monetary Policy Committee (MPC) of the Bank of Tanzania (BoT) maintained an accommodative monetary policy stance at its first meeting of the year to support a further economic recovery after seein...
Fixed Income Daily: Bond market and currency metrics for African capital markets
Botswana - We expect that monetary authorities will opt to tighten policy during Q1, Q2 and Q3 of this year. We expect three increases of 25bps each, with the balance of risks tilted towards a more ag...
Daily Africa Insight: An overview of today’s key events and developments
Eswatini – CBE mimics Sarb in conducting its monetary policy. Ethiopia – Fitch affirms credit rating at CCC as restructuring looms. Kenya – Cut in electricity prices leads to disinflation in January....
Talking Point: Lesotho – CBL raises policy rate amid inflationary pressures
At its first meeting of 2022, the Monetary Policy Committee (MPC) of the Central Bank of Lesotho (CBL) raised its main policy rate by 25 bps to 4.0%. The rate decision is likely to lift the prime lend...
Talking Point: Ethiopia – Fitch affirms credit rating at CCC as restructuring looms
On January 27, Fitch Ratings affirmed Ethiopia’s long-term foreign-currency Issuer Default Rating (IDR) at CCC. Fitch asserts that the CCC rating captures the elevated risk of a default event which ma...
Talking Point: Kenya – Cut in electricity prices leads to disinflation in January
Consumer price index (CPI) inflation moderated to 5.4% y-o-y in January from 5.7% in December as a result of disinflation in most major CPI sub-indices.
Loss of trade benefits and delay to reform drive to amplify impact of conflict- and weather-related shocks
Revised assumptions regarding the impact of the Omicron variant of the coronavirus, coupled with a better-than-expected uptake of government securities, allowed for an upward adjustment to the GDP gro...
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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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Africa Economic Insight
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