Economy

JOHANNESBURG (Capital Markets in Africa) – India, Nigeria, Turkey, and others are joining China as the globe’s powerhouses. How will they balance growth and sustainability? On a recent trip to Singapore, I found myself counting cargo ships in the Singapore Strait as I stared out the window of a new high-rise in the Marina Bay Financial Centre. The south-eastern view was unobstructed because several blocks between the building and the bay haven’t yet been developed….

DAKAR (Capital Markets in Africa) – Senegal’s economy is projected to expand more than 6 percent in 2018, driven by both public and private investment, the International Monetary Fund said. “Growth is supported by strong performances in the construction and services sectors,” the Washington-based lender said Wednesday in an emailed statement. The West African nation’s economy grew 7.2 percent in 2017, according to the IMF. Senegal needs to attract more private investment, improve credit access and tackle energy and…

NAIROBI (Capital Markets in Africa) – Kenya’s economy expanded at the fastest pace since the second quarter of 2016 as the nation reaps the benefits of a rebounding farm sector. Gross domestic product in East Africa’s biggest economy rose 6.3 percent in the three months through June, from 5.7 percent in the previous quarter, the Kenya National Bureau of Statistics said Friday in a statement emailed from Nairobi, the capital. That was higher than the…

TUNIS (Capital Markets in Africa) – Tunisia’s economic reforms are at risk of being sidelined by a feud between top leaders. President Beji Caid Essebsi has for weeks been calling on the nation’s prime minister, Youssef Chahed, to either improve his handling of the struggling economy or quit. The turmoil within the governing coalition escalated late Monday when in a televised speech Essebsi said a key Islamist party had openly sided with the embattled premier. The Ennahda…

LAGOS (Capital Markets in Africa) – Nigeria’s inflation rate rose the first time in 19 months as food-price growth picked up. The annual rate rose to 11.2 percent in August from 11.1 percent in July, Statistician-General Yemi Kale said in a report on Twitter Friday. Prices increased 1.1 percent in the month. The pick-up in price growth may bring interest-rate increases by the central bank closer. It’s scheduled to announce its next policy decision on Sept. 25….