Economic | - Part 3

African Economic Watch: African Countries Release October Inflation Rates Statistics …

Lagos, Nigeria, Capital Markets in Africa — Most of the African countries released the inflation rates figure for October in the week ending Sunday 15 November 2015. South Africa also released the production figures for the mining and manufacturing sector and Tanzania’s M3 money supply September data were also released by the Bank of Tanzania. Sudan’s annual inflation rate eased to 13.37 percent in October from a revised 13.56 percent in September, a monthly report…

Egypt’s economic and fiscal conditions are improving, but large financing needs ….

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Cairo, Egypt, Capital Markets in Africa — Reforms have sparked improvements in Egypt’s (B3 stable) public finances and economic conditions, but challenges remain, says Moody’s Investors Service in a report published on 3rd November 2015. The rating agency notes that the challenges include the government’s large financing needs, structural economic issues such as high unemployment and inflation, and elevated political risks. The rating agency projects real GDP growth of 5.0% for the current fiscal year…

Kenya’s Economic Growth Robust and to Grow by 6.5% in 2015 — IMF

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Nairobi, Kenya, Capital Markets in Africa — Kenya’s economic growth has been robust despite headwinds from the global slowdown and ongoing domestic security problems, according to the International Monetary Fund (IMF) Country Report No. 15/269. However, the IMF revised its forecast for Kenya’s Gross Domestic Product (GDP) growth for 2015 from 6.9% to 6.5%, and trimmed 2016 figure from 7.2% to 6.8%. The Fund also revised inflation upwards to 6.4 percent from the previous projection of…

Gambia’s economy faces severe economic risks says IMF

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Banjul, Gambia, Capital Markets in Africa — Gambia’s economy faces serious risks from a worsening budget, rising inflation and tight interest rates, the International Monetary Fund (IMF) said in a statement on Monday. According to the IMF, which lent Gambia US$10.8 million in April 2015, attributed policy inconsistencies undermined the country’s ability to meet external obligations. Furthermore, the Bretton-wood institution stressed that in the absence of corrective policies, Gambia’s external viability and fiscal sustainability could be…

Angolan Economy – An uphill struggle in 2015 says Chief Economist, Tiago Dionisio

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Tiago Dionisio, Chief Economist with Eaglestone Securities Lower oil prices hit 2014 GDP growth and fiscal accounts Angola is Sub-Saharan Africa’s second largest oil producer after Nigeria and its economy remains highly dependent on the oil sector. Official figures show that the oil sector accounted for nearly 37% of the country’s GDP, 98% of its total exports and more than two-thirds of government revenues in 2014. As a result, it is…

Global slow down will boost Africa’s hopes of achieving development goals

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ADDIS ABABA (Capital Markets in Africa):- Africa is likely to benefit from weak global growth by attracting more investment that will drive its development, experts said at a financing conference in Ethiopia on Wednesday. Investors have been pouring money into Africa in recent years, buoyed by its strong economic growth and improved governance amid slow growth in Europe, China and the United States. “As the global economy continues to be sluggish and large emerging markets slow…

Sub-Saharan Africa’s growth slows: A look at Nigeria and Kenya by Renaissance Capital

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Lagos, Nigeria (Capital Markets in Africa) — Low commodity prices, soft global demand and domestic structural constraints have conspired to slow growth in Sub-Saharan Africa’s oil exporting and importing countries alike. We lower our 2015 growth forecast for Kenya to 5.2% (vs 6.0% previously), and highlight downside risks to Nigeria’s. Kenya: Quicker growth is deferred We expect the (investment-driven) acceleration in Kenya’s growth to be deferred, partly due to tighter monetary policy. Although growth quickened in 1Q15…

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