Economy | - Part 3

Africa: Positive news from unlikely sources

LAGOS (Capital Markets in Africa) – Some good news from two African countries that have come to epitomise the continent’s fiscal struggles. A breakthrough regarding Zambian debt discussions is reportedly not too far away. Next month could see the signing of a Memorandum of Understanding with official creditors, which would effectively untie the IMF’s hands and allow the Fund to finally provide support. In Ghana, the Q4 2022 GDP release came in much better than…

Africa’s potential growth hotspot and unsettling monetary environments

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Q4 GDP figures suggest the rifle is cocked and the Senegalese economy is ready to shoot the lights out this year. Industry ended 2022 with a bang and the development of the hydrocarbons sector could see Senegal become Africa’s growth hotspot in 2023. Domestic political uncertainty and economic challenges abroad are the main obstacles to traverse. Elsewhere, both Namibia and Algeria are still struggling with unsettlingly high price…

Africa: Living up to one’s reputation

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Author’s note: Zimbabwe is considered one of the most corrupt countries on the planet. The latest Corruption Perceptions Index scores the Southern African nation equal to junta-led Myanmar and war-torn Iraq. A recent exposé linking top government officials with gold smuggling and sanctions busting will only feed these perceptions. Meanwhile, Zimbabwe is looking to China to fund and build energy infrastructure. The country is overly reliant on hydropower generated from the Kariba Hydropower Station, and…

Today’s main economic and political developments across the continent

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LAGOS (Capital Markets in Africa): Zambia’s new dawn has given way to a chilly and overcast day. The country has effectively been in debt restructuring talks since 2020, and even the Hichilema administration, with the backing of business and multilaterals, has been able to make real inroads in this regard. The next two weeks will bring some clarity regarding the state of affairs and the way forward. In neighbouring Angola, the central bank has cut…

African economies remain resilient with a stable outlook in 2023-2024

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ABIDJAN (Capital Markets in Africa): African economies remain resilient with a stable outlook in 2023-2024, despite the tightening global financial conditions, the African Development Bank (http://www.AfDB.org) has projected in a new report. The report, Africa’s Macroeconomic Performance and Outlook (MEO) 2023 (https://apo-opa.info/40FddSu), estimates Africa’s average GDP to stabilize at 4% in the next two years, up from 3.8% in 2022. Presenting the report on 17 February on the sidelines of the 36th African Union Assembly…

Nigeria: Prolonged naira shortage may slow economic growth

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LAGOS (Capital Markets in Africa)- The Nigerian economy ended 2022 on a strong footing, expanding by 3.5% YoY in Q4’22, aided by a resilient non-oil sector. The positive print in the non-oil sector reflected gains in the services sector, stemming from strong ICT, trade and financial services performances. From our assessment, the relatively impressive 4G and 5G network coverages, elevated CAPEX spending, and the growing expansion of Fintechs boded well for the telecommunication sector (+10.35%)…

Africa’s Macro-Economic Performance and Outlook 2023

Posted on by The Editorial Team

ADDIS ABABA, Ethiopia, February 19, 2023/ — African leaders have pledged to take immediate action to integrate the recommendations from the newly released Africa’s Macro-Economic Performance and Outlook report into their national development plans. Zambian President Hakainde Hichilema said the study, conducted by the African Development Bank Group, provided an impetus for the continent’s leaders to forge ahead with needed reforms. His remarks were read on his behalf by Zambia’s Minister of Finance and National…

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