Features | - Part 208

African capital markets Activity shows significant decline in 2016, says PwC

JOHANNESBURG (Capital Markets in Africa) – 2016 marked a challenging year for African equity markets in the wake of lower economic growth and political upheaval around the globe, largely as a result of the US elections cycle and the Brexit vote. African equity capital markets (ECM) broke a streak of three successive years of growth, recording a decline in overall ECM activity of 28% from 2015 in the number of transactions and 33% from 2015…

Angola Economic Outlook for 2017: Growth Prospect & Threats

Posted on by The Editorial Team

LUANDA (Capital Markets in Africa) – Angola is facing a tough macroeconomic environment, in line with other countries in Sub-Saharan Africa such as Nigeria and South Africa that saw economic growth come to a halt or even turn into negative territory during 2016. Similar to what happened in the oil crisis of 2008-09, the current downturn in Angola has been the result of the sharp and prolonged decline in oil prices that started in the…

A Prognosis of Ghana’s Macroeconomic Prospects in 2017

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana’s much-anticipated return to macroeconomic stability started to materialize in 2016, on the back of the ongoing fiscal adjustment program with the IMF and its associated front-loaded fiscal measures implemented since April 2015. The most notable indication of emerging macroeconomic stability in 2016 was observed in the foreign exchange market where the Ghana Cedi recorded a relatively more stable outturn against the major international trading currencies. The Cedi’s improved…

Kenya’s 2017 Macroeconomic Fundamentals

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – The year 2017 is shaping up to be a year of stable growth, despite being an election year in the country. In this article, we highlight and discuss the macroeconomic fundamentals in Kenya, the key opportunities in different sectors of the economy, and finally discuss the key challenges facing the growth prospects of the country. Kenya is one of the fastest growing economies in the Sub-Saharan Africa region, with…

Insight into Nigeria’s Macroeconomic Climate in 2017

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The novelty has worn off by now. Barring a minor miracle, the Nigerian economy entered a full-year recession in 2016, its first in two decades. Added to this, the simultaneous rise in unemployment (up to 13.9% according to most recent data) and inflation (18.6% in December) tilted the country into stagflation. A slump in oil export earnings on the back of major disruptions in oil production significantly contributed to…

Morocco’s Favourable Prospects with Strong Fundaments in 2017

Posted on by The Editorial Team

RABAT (Capital Markets in Africa) – Prospects for Moroccan economy in 2017 are favourable with stronger economic growth on the one hand and, on the other, an on-going contraction in the twin deficits, which will help restore the long-term health of the country’s public finances and balance of payments. As far as the growth outlook is concerned, expectations of GDP growth in 2017 should once again highlight the economy’s sensitivity to the agricultural sector. In…

South Africa’s Macroeconomic Prospects and Risks in 2017

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The South African macroeconomic landscape is expected to gradually improve this year following the weak growth performance recorded last year. In essence, growth should lift, inflation should fall and policy rates should remain stable. This view is underpinned by several developments. Importantly we expect global growth to continue to rise gradually in the period ahead as the recent increase in commodity prices boost growth in commodity-exporting EMs, improved household…

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