Economy | - Part 50

Unlock the potential of African entrepreneurs to accelerate Africa

ABIDJAN (Capital Markets in Africa) – African governments need to integrate entrepreneurship more fully into their industrialisation strategies, according to the African Economic Outlook (AEO) 2017 released Monday, May 22 at the African Development Bank Group’s 52nd Annual Meetings. In 2016, Africa’s economic growth slowed down to 2.2% from 3.4% in 2015 due to low commodity prices, weak global recovery and adverse weather conditions, which impacted on agriculture production in some regions. However, it is…

IMF offers three-pillared prescription for African growth

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine…

March’s Inflation Trends Across the African Continent

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LAGOS (Capital Markets in Africa) – Angola’s inflation eased to 36.52 percent year-on-year in March from 38.32 percent in February, data from the National Statistics Agency reported. Price increases on a month-on-month basis slowed 1.91 percent in March compared to a 2.3 percent previously. Algeria’s consumer price inflation stood at 7 percent year-on-year in March from 4.7 percent a year earlier. The National Statistics Office reported. Inflation reached 1.6 percent in March compared with the…

IMF Sees `Subdued’ Growth Outlook for Sub-Saharan Africa

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LAGOS (Capital Markets in Africa) – Sub-Saharan Africa’s economic growth outlook is “subdued” as the region’s oil producers delay policy adjustments needed to trigger and sustain expansion momentum, the International Monetary Fund said. The area’s gross domestic product will probably expand 2.6 percent this year from 1.4 percent in 2016, the IMF said in an emailed copy of its Regional Economic Outlook. The modest recovery from the worst performance in more than two decades last year will…

Moody’s to Visit South Africa in Coming Weeks, Buthelezi Says

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JOHANNESBURG (Capital Markets in Africa) – A team from Moody’s Investors Service will visit South Africa in the coming weeks after the ratings company put the nation on review for a downgrade early this month, Deputy Finance Minister Sfiso Buthelezi said. The National Treasury has concluded an international roadshow and will give an update on its outcomes at a later date, Buthelezi told reporters in Johannesburg on Friday. Buthelezi was appointed on March 31 as part of a…

Economic Growth in Sub-Saharan Africa Rebounds to a Projected 2.6% in 2017

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LAGOS (Capital Markets in Africa) – Sub-Saharan Africa experienced a slowdown in investment growth from nearly 8% in 2014 to 0.6% in 2015, according to the new Africa’s Pulse, a biannual analysis of the state of African economies conducted by the World Bank. This sluggish investment has coincided with a sharp deceleration in economic growth in Africa, the World Bank said in a report on Wednesday. In this issue of the Africa’s Pulse, a special…

Kenyan Economy Expands at Fastest Pace in Five Years in 2016

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s economy, East Africa’s largest, expanded at the fastest pace in five years in 2016, boosted by more construction and tourism. Gross domestic product increased 5.8 percent last year, the most since 2011, from a revised 5.7 percent in 2015, Kenya National Bureau of Statistics Director General Zachary Mwangi told reporters Wednesday in Nairobi, the capital. Expansion could have been more robust had it not been for a sluggish…

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