The Editorial Team

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

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…

AfDB concludes 2023 insurer roadshow to accelerate mobilization of private capital to the continent

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LONDON, United Kingdom, March 1, 2023/ — The Co-Financing, Syndications and Client Solutions department of the African Development Bank Group (www.AfDB.org) has met with London-based insurers to galvanize continued support of the Bank’s balance sheet optimization and mobilization ambitions, in line with its 2023 lending program. The Bank held an investor relationship event on 28 February, attended by representatives from over 30 insurance companies from the London, Bermudan and other international markets, including many…

UK Investor confidence still below pre-invasion levels

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LONDON (Capital Markets in Africa): A year on from the devastating invasion of Ukraine, which shocked the world, sparked runaway inflation, and led to turbulence across global markets, investor confidence is still struggling to fully recover. The HL Investor Confidence Index shows that, although there has been a marked improvement since last month, confidence in the UK market is still below the level it was last February, before it plummeted in March 2022, following Russia’s…

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%)…

Into Africa: Cloud brings customers and innovation

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JOHANNESBURG (Capital Markets in Africa):– South Africa and Kenya are worlds apart in their embrace of information technology, but they have one thing in common: they jointly lead the African continent in having the biggest impact of cloud computing on customer experience across 7 major African markets. This was one of the most significant findings of the final results of the Cloud in Africa 2023 study released this month by World Wide Worx, with support…

Enabling financial inclusion in Africa: Impact investor Nordic Microfinance Initiative

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NAIROBI, Kenya, February 22, 2023/ — Abler Nordic (https://www.AblerNordic.com) is the new name of Nordic Microfinance Initiative, a public-private partnership investing in companies in Sub-Saharan Africa and Asia supporting low-income households with financial services. The new name was launched locally at an event in Nairobi on February 21 by Managing Director Arthur Sletteberg, along with the announcement of the start of fundraising for their latest Fund V in 2023. “Sub-Saharan Africa is one of our…

Market Report: Stock sell off as rate hike worries surge and fresh volatility expected

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LONDON (Capital Markets in Africa): Investors are waking up to a stark realisation that the Fed’s work is not done, and that interest rates may have to be hiked even higher to cool hot inflation. Wave of exuberance, which have propelled equities higher since the start of the year, have turned into tides of disappointment and apprehension about the difficulties that still may lie ahead for the mighty US economy. High hopes that the Federal…

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