Economy | - Part 42

A Star Arab Economy Eases Hold on Currency to Lure Investors

CASABLANCA (Capital Markets in Africa) – Morocco loosened its currency peg in a long-awaited move aimed at strengthening its economy and avoiding financial imbalances that forced a slew of emerging nations into sharp devaluations. Bank al-Maghrib on Monday allowed the dirham to fluctuate 2.5 percent above or below its official rate, significantly widening the band from 0.3 percent each way. The central bank updated the dirham’s band from to 8.9783 to 9.4328 against the dollar as of…

What Will It Take to Fix the Mess in Zimbabwe?

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HARARE (Capital Markets in Africa) – Busisa Moyo can’t wait to get out the door. It’s the middle of a Monday afternoon, and the chief executive officer of Zimbabwe’s United Refineries Ltd. is striding briskly out of his crushing plant—a vast rectangular structure with red brick walls and a corrugated metal roof. In theory, this is where millions of soybeans at a time can be cleaned, heated, cracked, and pulverized to extract vegetable oil. Except today, like most…

Egypt Inflation Rate Drops as Currency Float Shock Eases

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CAIRO (Capital Markets in Africa) – Egypt’s monthly urban inflation rate fell for the first time in more than two years as the impact of lifting currency controls eased. The month-on-month inflation rate came in at minus 0.2 percent in December, its lowest rate since November 2015, while the annual inflation rate eased to 21.9 percent from 26 percent the previous month, according to the state-run statistics agency CAPMAS. Annual prices were affected by a slowing of…

Activity Expands in African Economies as Stability Boosts Demand

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LAGOS (Capital Markets in Africa) – Business activity in some of sub-Saharan Africa’s biggest economies is expanding due to increased demand and the return of political stability. Purchasing Managers Indexes published on Thursday showed expansion in companies in Nigeria, Kenya, Ghana, Uganda and Zambia in December. In South Africa, the continent’s most-industrialized economy, the index fell and remained below the neutral mark of 50 for the fifth straight month as the fiscal outlook remains challenging and…

Sub-Saharan Africa Outlook subject to significant downside risks

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LAGOS (Capital Markets in Africa) – The World Bank projected economic growth in Sub-Saharan Africa (SSA) to accelerate from 2.4% in 2017 to 3.2% in 2018 and to average 3.6% annually during the 2019-20 period, supported by an increase in commodity prices and stronger domestic demand. Still, it expected the region’s growth rate to remain below the pre-global financial crisis level, as Angola, Nigeria and South Africa, the region’s largest economies, continue to face challenges….

Activity Expands in African Economies as Stability Boosts Demand

Posted on by The Editorial Team

Ivory Coast Confident `Turbulent’ 2017 Is Over as Calm Back

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ABIDJAN (Capital Markets in Africa) – Ivory Coast is unlikely to repeat the upheaval of 2017, when it had to bow to the pay demands of mutinous soldiers and striking government workers while prices for its biggest export plummeted, Finance Minister Adama Kone said. The West African nation received financial support from the International Monetary Fund to cope with individual payments of almost $20,000 to more than 8,000 military staff and a settlement of more than $400 million…

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