Economic Outlook |

Nigeria Inflation Little Changed in September as Food Costs Rise

LAGOS (Capital Markets in Africa) – Nigerian inflation was little changed in September as food prices continued to rise, limiting the scope for the central bank to ease policy before the end of the year. The inflation rate in Africa’s most-populous nation decreased to 15.98 percent from 16.01 percent in August, the Abuja-based National Bureau of Statistics said in an e-mailed report on Tuesday. That was in line with the median of 13 economists’ estimates compiled by Bloomberg. Prices rose…

Africa’s Economic Future Depends on Its Farmers

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LAGOS (Capital Markets in Africa) – When the economies of Nigeria and South Africa recently rebounded, it wasn’t oil or minerals that did the trick. It was agriculture. Faster and more sustainable agricultural growth is crucial not only to the continent’s economy, but also to its ability to feed and employ its surging population. Agriculture still accounts for a quarter of gross domestic product and as much as two-thirds of employment in sub-Saharan Africa. In fact, agricultural growth has the…

World Bank Says Africa GDP Rebound Inadequate to Tackle Poverty

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LAGOS (Capital Markets in Africa) – The rebound in sub-Saharan Africa’s economic growth is insufficient to meaningfully reduce poverty, the World Bank said. Gross domestic product in the region will probably expand by 2.4 percent in 2017, the Washington-based lender said in an emailed copy of its Africa Pulse report on Wednesday. While that’s down from the World Bank’s April forecast of 2.6 percent, it’s an improvement on the two-decade low growth rate of 1.3…

China’s Rise Will Change How Investors View Riskiest Markets

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LAGOS (Capital Markets in Africa) – China’s Belt and Road initiative will provide a boon for frontier markets, but investors should probably do their homework before following Beijing’s money trail. Funding channelled as part of the Chinese-style globalization drive typically doesn’t come with expectations for reform, like aid provided by multilateral lenders. That means access to Chinese funds could see countries delay engaging with the International Monetary Fund for rescue packages, says Hasnain Malik, the…

Nigeria’s Economy Expands to End the Worst Slump in 25 Years

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LAGOS (Capital Markets in Africa) – Nigeria’s economy expanded in the second quarter, ending its worst slump in 25 years as agricultural and oil output increased. Gross domestic product of Africa’s largest crude producer grew 0.55 percent in the three months through June from a year earlier compared with a revised 0.9 percent contraction in the first quarter, the Abuja-based National Bureau of Statistics said in an emailed report Tuesday. The median of 10 economists’…

Rwanda’s economic growth slows to 5.4 pct in Q2

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KIGALI, Capital Markets in Africa: Rwanda’s economy grew by 5.4 percent in the second quarter of the year, down from an expansion of 7.2 percent in the same period last year, the statistics office said on Tuesday. The country has had a stellar run in recent years, posting faster growth than other East African economies, but it has been curbed by a weakening of the currency this year, after imports surged. Yusuf Murangwa, the director…

Q & A Session: African Economic Review and Outlook

Posted on by The Editorial Team

CMnAfrica: Retrospectively, in your opinion, what are the significant changes you noticed in African economies during the first half of 2016? GADIO SAMIR: Market sentiment towards emerging markets and Sub-Saharan Africa was initially poor in early H1-2016. The oil price fell to new lows in Q1 which reinforced this bearish bias. African Eurobond valuations widened to record highs while foreign interest in local markets was rather subdued. However, risk conditions improved from mid-Q1 and even…

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