Economy | - Part 51

South Africa Avoids a Second Fitch Cut as Rating Affirmed

JOHANNESBURG (Capital Markets in Africa) – South Africa avoided a second downgrade in two months from Fitch Ratings Ltd. as the company left its assessment of the nation’s debt at the highest non-investment grade. The local- and foreign-currency ratings were affirmed at BB+, Fitch said in an emailed statement Thursday. The outlook on both assessments was kept at stable. Fitch and S&P Global Ratings cut their assessments of South Africa’s foreign-currency debt to the highest junk level in…

Assessing Uganda’s Fiscal and Monetary Policies in 2017 and beyond

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Uganda’s rate of growth, though positive, has slowed over the past few years to average 4.5 percent in the last five years compared to 7.4 percent in the preceding period. Core inflation has been in line with the target of 5 percent over the medium term, with the few deviations from the target arising largely from supply side shocks caused by developments on the global scene as well as…

South Africa Inflation at 17-Month Low Shows End to Rate Hikes

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s inflation rate fell within the central bank’s target band in April for the first time in eight months, reinforcing chances that the rate-increase cycle may have come to an end. Consumer-price inflation eased to 5.3 percent from 6.1 percent in March, Statistics South Africa said in a report released Wednesday in the capital, Pretoria. That’s the lowest rate since December 2015 and compares with the median estimate of 5.6 percent by…

Unlock the potential of African entrepreneurs to accelerate Africa

Posted on by The Editorial Team

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

Posted on by The Editorial Team

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

Posted on by The Editorial Team

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…

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