A look under Eskom’s hood, factory sentiment up

Eskom’s latest annual report highlights that the firm’s woes run deeper than poor management and, until it is allowed to raise electricity tariffs significantly, the state will need to continue providing bailouts. Unemployment figures added to a string of bad news from South Africa, but recent PMI data suggest that activity rebounded following the contraction in Q1. Elsewhere, we think that Ghana’s downwardly revised economic forecasts still look too optimistic