Outlook |

Goldman Hails Global Rebound as Currie Sees Commodity Demand

LONDON (Capital Markets in Africa) – Commodities will be supported in the months ahead by a global rebound spanning the U.S., Europe, and China that’s buttressing worldwide demand for raw materials, according to Goldman Sachs Group Inc. “We’re seeing a cyclical uptick in global economic activity and that’s driving demand, not only for oil but all commodities,” Jeffrey Currie, head of commodities research, said in Hong Kong on Tuesday. “That’s the core reason why we upgraded our outlook…

CÔTE D’IVOIRE: ECONOMIC REVIEW AND OUTLOOK

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Côte d’Ivoire’s fundamentals to remain strong but growing external headwinds pose downside risks Growth to remain strong over the short term, providing businesses with opportunities Côte d’Ivoire’s short-term economic outlook appears good, reflecting successful reforms under the current administration. The country has come a long way from five years of civil war (2002-07) that damaged its infrastructure, and post-election instability in 2010 that left 3,000 people dead and thousands…

INTO AFRICA: African Economic Outlook in 2016

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — In 2015, Africa experienced its slowest economic growth rate since the 1998 global financial crisis. The Sub-Saharan Africa real GDP growth fell from 5.0 percent in 2014 to 3.75 percent in 2015 (IMF’s estimates). The downside risks in 2015 (low commodity prices, a slowing in China’s growth and uncertainty in the level of USA’s real growth rate) are expected to spill-over to 2016 but with reduced impact. As…

IMF Cuts South Africa’s and Nigeria’s Economic Growth Forecast for 2016

Posted on by The Editorial Team

LONDON, Capital Markets in Africa — The International Monetary Fund (IMF) recently published the latest update to its world economic outlook. The document is tagged “Subdued Demand, Diminished Prospects”. In the January publication, the global economic prospects is downgraded to projected at 3.4 percent in 2016 (compare to 3.6 percent in October 2015 forecast) and 3.6 percent in 2017 (3.8 percent in October 2015 release). The pickup in global activity is projected to be more…

Moodys assigns provisional (P)Ba2 rating to Angola’s forthcoming US dollar-denominated bond offering

Posted on by The Editorial Team

Luanda, Angola, Capital Markets in Africa — Moody’s Investors Service has today assigned a provisional long-term (P)Ba2 rating to the forthcoming bond to be issued by the Government of Angola. The obligation is a senior unsecured bond issue and ranks pari passu with all current and future senior unsecured indebtedness of Angola. This rating is in line with Angola’s issuer rating of Ba2. This rating action concerns a new rating solicited by the issuer for…

Kenya’s Economic Growth Robust and to Grow by 6.5% in 2015 — IMF

Posted on by The Editorial Team

Nairobi, Kenya, Capital Markets in Africa — Kenya’s economic growth has been robust despite headwinds from the global slowdown and ongoing domestic security problems, according to the International Monetary Fund (IMF) Country Report No. 15/269. However, the IMF revised its forecast for Kenya’s Gross Domestic Product (GDP) growth for 2015 from 6.9% to 6.5%, and trimmed 2016 figure from 7.2% to 6.8%. The Fund also revised inflation upwards to 6.4 percent from the previous projection of…

Gambia’s economy faces severe economic risks says IMF

Posted on by The Editorial Team

Banjul, Gambia, Capital Markets in Africa — Gambia’s economy faces serious risks from a worsening budget, rising inflation and tight interest rates, the International Monetary Fund (IMF) said in a statement on Monday. According to the IMF, which lent Gambia US$10.8 million in April 2015, attributed policy inconsistencies undermined the country’s ability to meet external obligations. Furthermore, the Bretton-wood institution stressed that in the absence of corrective policies, Gambia’s external viability and fiscal sustainability could be…

1 2 3 … 8 »