US rhetoric toward Africa hardened this week, with fresh funding threats and tighter immigration measures. As Washington’s ties with the region deteriorate, China and middle players like the UAE continue to deepen their engagement. Elsewhere, Nigeria’s central bank paused its easing cycle, while Ghana pushed ahead with another aggressive rate cut. Nigeria is unlikely to stay on the sidelines for long, with inflation risks increasingly tilted to the downside. Meanwhile, the SARB’s Annual Financial Stability Review showing that the banking sector is in good health which, alongside further rate cuts from the SARB, will support a pick-up in credit growth.
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