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Talking Point: South Africa – Merchandise trade flows lower in October
Merchandise exports declined by 5.7% m-o-m in October to reach R147.9bn, while imports decreased by 4.9% on the month, which resulted in South Africa recording a trade surplus of R19.8bn. The m-o-m de...
Mozambique Quarterly Update: Economy gains momentum ahead of first Rovuma gas exports
We expect the trend of improving mineral exports to be maintained in the medium term, driven mainly by a continued ramp-up of mineral coal production and the start of natural gas production in the Rov...
Talking Point: South Africa – Widespread job losses in Q3
The official unemployment rate rose from 34.4% in Q2 2021 to 34.9% in Q3. This is now the highest unemployment rate recorded since the start of the Quarterly Labour Force Survey (QLFS) in 2008. The wo...
South Africa: A harsh fourth wave could spoil the party
The detection of the Omicron variant of the coronavirus precipitated bans against travellers from South Africa, and the sudden cancellations by foreign tourists will hurt an already struggling tourism...
Talking Point: Mauritius – Goods trade deficit widens further in Q3
The merchandise trade deficit widened sharply from $570m in Q3 2020 to $840m in Q3 2021. The deterioration was caused by a surge in goods imports outpacing a rise in exports. During the period under r...
Talking Point: Rwanda – Trade deficit narrows in October as imports decline again
The latest data released by the National Institute of Rwanda (NISR) indicates that import volumes declined in October while exports grew slightly. Imports fell by 4.8% m-o-m compared to September, whi...
Talking Point: Nigeria – Moody’s adjusts outlook from negative to stable
Moody’s Investors Service has affirmed Nigeria’s B2 sovereign credit rating while adjusting the outlook from negative to stable. The outlook was changed from stable to negative in December 2019, with...
Talking Point: Kenya – Central bank remains accommodative
The Monetary Policy Committee (MPC) of the Central Bank of Kenya (CBK) decided to maintain its benchmark interest rate at 7% on November 29. The MPC considers the current monetary policy stance as app...
Supply chain disruptions and new Omicron variant pose key downside risks to recovery
The Egyptian non-oil sector fell deeper into contractionary territory in October, as ongoing global supply chain bottlenecks saw input shortages become even more entrenched. It seems that supply chain...
SA Daily Economic Report: Morning market update
Vaccine mandates come into focus as fourth wave looms Export outlook for Asia Pacific still healthy amid rising headwinds UK mortgage lending set to become less volatile and cooler Pending US home sa...
Fixed Income Daily: Bond market and currency metrics for African capital markets
Egypt - The Central Bank of Egypt exceeded initial issuance targets at last week’s auction, but yields endured upward pressure across the board. A sudden reversal in portfolio inflows would bode ill f...
Daily Africa Insight: An overview of today’s key events and developments
Gabon – Consumer price pressures remain subdued. Kenya – Prolonged drought takes a heavy toll. Malawi – Police fire teargas to disperse demonstrators. Nile Valley – Sudan military blames Ethiopia for...
Talking Point: Malawi – Police fire teargas to disperse demonstrators
On Friday, November 26, police fired teargas to disperse a crowd of thousands of protestors in Lilongwe calling on President Lazarus Chakwera’s government to fulfil its campaign promises. It was the t...
Talking Point: Kenya – Prolonged drought takes a heavy toll
Kenya, often referred to as “the land of plenty”, is currently grappling with a severe drought. Both the 2020 short rains (October to December) and the 2021 long rains (March to May) were poor across...
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.#SouthAfrica manufacturing sector has experienced a tumultuous year so far in 2021. The impact of loadshedding and the worker strike was clearly visible in the October manufacturing figures.
.#SouthAfrica mining figures came in stronger than expected in October.
A sharp drop in exports caused #SouthAfrica current account surplus to decrease to R226bn (equivalent to 3.6% of GDP) in Q3 2021.
.#CPI inflation in #Tanzania increased from 4.0% y-o-y in October to 4.2% y-o-y in November. We expect inflationary pressures to heat up in H1 2022.
The military agreement between the #DRC army and #Monusco for cooperation against armed forces in the east of the country is welcome, on balance: it makes rights violations slightly less likely. But only slightly.
.#IMF urges #SouhtAfrica to get tough on underperforming parastatals and urgently adopt more business friendly policies.
Fuel prices keep upward pressure on #Mozambique #inflation in November.
.#SouthAfrica’s retail sales dip 1.3% in October dailymaverick.co.za/article/2021-1… @OEAfrica
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Africa Economic Insight
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BESPOKE REPORT IN COLLABORATION WITH UNECA
Unemployment and underemployment remain pervasive across the continent, and demographic trends suggest that the situation will deteriorate further if not effectively addressed. In collaboration with UNECA, Oxford Economics Africa examined 34 employment initiatives across 15 different countries, with the aim that key lessons will inform policy recommendations across the continent.
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