NKC African Economics

Zambia’s November inflation print surprised to the downside, as the latest release indicates that the headline price index advanced by a below-forecast 10.8% y-o-y. While the inflation figure affirmed...

The global economic slowdown and commodity price slump are set to weigh on the DRC’s undiversified economy in 2019. Real GDP growth is expected to fall to 4.3% in 2019 as copper and cobalt prices fall...

Real GDP growth slowed in 2019 H1 as a downturn in primary and secondary sector activity somewhat dampened an otherwise strong growth performance. Based on the recent slowdown in agricultural and manu...

Private sector credit extension (PSCE) growth accelerated to 7.3% y-o-y in October 2019 from 6.2% y-o-y in September, based on a monthly increase of R16.5bn (-R2.5bn in September). The outcome was not...

Leading business cycle indicator dips in September Eskom surprises with interim profit Sentiment and credit help bloc’s outlook in Q4 ZAR trades little changed

The Central Bank of Lesotho (CBL) held its final Monetary Policy Committee (MPC) meeting for the year on November 26. The CBL followed the status quo and kept the policy rate unchanged at 6.5% after t...

Botswana: From our Quarterly Update (Nov 27). DRC: From our Quarterly Update (Nov 28). Egypt: From our Quarterly Update (Nov 25). Ethiopia: On coming together and falling apart (Nov 25...

Uganda – The Bank of Uganda was able to hit its issuance target in three- and 15-year bond auctions on November 27, with the longer-dated tenor in particular receiving considerable investor interest....

Egypt: Fitch affirms Egypt's sovereign credit rating. Lesotho: Slow progress in SADC reforms while a new poll looms. Mozambique: S&P follows suit and upgrades credit rating. South Afri...

Angola: Inflation flat in October despite kwanza crash (Nov 22). Cameroon: Inflation eases in the third quarter of 2019 (Nov 25). eSwatini: Interest rate remains unchanged in Q4 2019 (Nov...

Growth in prices at the factory gate dropped further in October. On an annual basis, producer price index (PPI) inflation for final manufactured goods eased from 4.1% y-o-y in September to 3.0% y-o-y...

S&P Global Ratings (S&P) has upgraded Mozambique’s sovereign credit rating to CCC from Selective Default (SD), while assigning a stable outlook to the new rating. The country’s sovereign cred...

Fitch Ratings (Fitch) has affirmed Egypt’s sovereign credit rating at B with a stable outlook. The rating balances recent improvements to macroeconomic stability and external finances, as well as a s...

Real GDP growth is estimated to have reached 5.8% in 2018, given robust activity in the mining sector, followed by favourable demand conditions and a stronger price environment for both copper and cob...