Latest Analysis
Talking Point: Malawi – Inflation continues its upward trend
Consumer price index (CPI) inflation again increased marginally on an annual basis, ticking higher by 0.6 ppt to 12.1% y-o-y in January after having recorded a 0.4 ppt increase in December 2021, accor...
Talking Point: Uganda – Government cuts spending to keep fiscal deficit in line
Data from the latest Monthly Performance of the Economy report published by the Ministry of Finance, Planning and Economic Development (MoFPED) indicates that the government was able to stick to its p...
Talking Point: Namibia – Budget passes the debt ball to the youth
While Iipumbu Shiimi FC might be scoring goals on the football pitch, Finance Minister Iipumbu Shiimi’s 2022 Budget Speech, delivered in Parliament on February 24, will not be scoring any points with...
Talking Point: Nigeria – General election date moved
On Saturday, February 26, the Independent National Electoral Commission (INEC) announced that it is postponing the 2023 general election, due to recent changes to the Electoral Act. The presidential a...
Most sectors performing well, but inflationary pressures pose a key risk
Preliminary figures show that real GDP jumped by 4.5% q-o-q in Q3 2021 (+9.8% y-o-y – the highest annual growth rate recorded in the series’ history). We expect the bounce back was supported by a retu...
Talking Point: South Africa – Private sector credit pushes higher in January
The latest statistics show that private sector credit extension (PSCE) growth accelerated to 3.1% y-o-y in January, from 2.6% y-o-y in December, based on a monthly increase of R11.2bn. The outcome was...
South Africa Weekly Economic Report: Crisis in Ukraine overshadows 2022 budget
All eyes were on the 2022 Budget Speech last week as Finance Minister Enoch Godongwana navigated through very little fiscal space. In general, the 2022 budget was well-received by markets and is consi...
Fixed Income Daily: Bond market and currency metrics for African capital markets
Botswana - Among the slew of changes to our baseline scenario for Botswana is a revision to the 2022 GDP growth forecast to 2.6%. This partially reflects base effects, but also the spillover effects o...
Daily Africa Insight: An overview of today’s key events and developments
Africa – African countries face a fifth wave of infections. Botswana – Bank rate unchanged but will be replaced as benchmark. Egypt – Strikers tear-gassed. Eswatini – Question marks hang over national...
Talking Point: Africa – African countries face a fifth wave of infections
The global focus shifted from pandemic to war yesterday as Russia started to invade Ukraine. Africa is only just emerging from the pandemic’s Omicron wave, and the compounding effect of war on Africa’...
Talking Point: Kenya – President endorses long-time rival as preferred successor
President Uhuru Kenyatta has finally publicly endorsed his long-time rival-turned-ally Raila Odinga as his preferred successor ahead of the August 9 general elections. On Wednesday February 23, Mr Ken...
Talking Point: Eswatini – Question marks hang over national dialogue
Questions have been raised over the establishment of a national dialogue forum announced in November 2021 following a tête-à-tête between King Mswati III and South Africa’s President Cyril Ramaphosa w...
Talking Point: Tunisia – UGTT looks inflexible
After the elective congress of the General Union of Tunisian Workers (UGTT) on February 16-18, at which Secretary General Noureddine Taboubi was re-elected, we thought that positive reactions from Pre...
Talking Point: Egypt – Strikers tear-gassed
On Tuesday, February 22, central security forces used tear gas to break up a strike by over 3,000 workers at the Universal for Electrical Appliances, in Giza outside Cairo. The workers had spontaneous...
Featured African Economic Insights
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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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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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