Africa Economics Weekly Kenya’s elections up in the air, mixed FX bag across SSA The fact that Kenya’s elections have, so far, proceeded peacefully have supported a rally in the country’s bond market. But with no official results available yet and reports pointing to a tight race... 12th August 2022 · 6 mins read
Africa Data Response South Africa Manufacturing PMI (Jul.) The decline in South Africa’s manufacturing PMI in July points to a large hit to activity from weaker global demand as well as severe power cuts at home. It will probably take some time before... 1st August 2022 · 2 mins read
Africa Economics Update SARB slams on the monetary policy brakes South Africa’s central bank upped the pace of tightening further with a 75bp hike, to 5.50%, as policymakers’ intensifying fears about inflation (and inflation expectations) trumped any concerns about... 21st July 2022 · 3 mins read
Africa Data Response South Africa Consumer Prices (Jun.) The jump in inflation in South Africa to 7.4% y/y in June keeps a 75bp interest rate hike on the table at the SARB’s meeting tomorrow. But with policymakers clearly concerned about the weakness of the... 20th July 2022 · 2 mins read
Africa Economics Weekly Demographics to lift growth, but convergence still distant The latest population projections released by the UN this week reaffirm that demographics will support strong GDP growth in Sub-Saharan Africa in the long run. But similarly robust income convergence... 15th July 2022 · 7 mins read
Africa Data Response SA Activity Data (May) The disappointing batch of South African activity data for May suggests that the economy is on course for a mild fall in GDP in the second quarter. 14th July 2022 · 2 mins read
Africa Economics Weekly Political risks piling up, rand on the rocks Resurfacing political risks in some parts of Sub-Saharan Africa are another threat to recoveries that are already facing multiple headwinds, while at the same time raising the pressure on several... 8th July 2022 · 6 mins read
Africa Economics Weekly All aboard the monetary tightening train Recent inflation figures out of the region and remarks from central bank officials point towards more, and potentially larger, interest rate hikes in most African economies over the coming months. A... 1st July 2022 · 5 mins read
Africa Data Response South Africa Manufacturing PMI (Jun.) The drop in South Africa’s manufacturing PMI in June signals that the rebound from the floods that hit activity in April lost steam at the end of Q2. The sector was probably a considerable drag on... 1st July 2022 · 2 mins read
Africa Economics Update Loadshedding and the hit to South Africa’s economy If past experience is anything to go by, deepening electricity supply cuts in South Africa are likely to deal a heavy blow to activity in energy-intensive sectors such as mining and manufacturing... 30th June 2022 · 3 mins read
Africa Chart Pack Hawkish shift creates difficult environment for Africa The hawkish turn by DM central banks over the past month has further soured investor risk appetite, and capital inflows into African economies are likely to have slowed. Countries with large external... 30th June 2022 · 12 mins read
Africa Economics Weekly SA corruption and inflation on display, Ghana’s troubles The president of South Africa and the ruling ANC are taking the heat as corruption accusations fly. With political bickering likely to grow, the focus on boosting the economy with much-needed reforms... 24th June 2022 · 5 mins read
Africa Data Response South Africa Consumer Prices (May) The rise in inflation in South Africa to an above-target 6.5% y/y in May is likely to shift the debate to a choice between a 50bp and a 75bp hike to interest rates at July’s MPC meeting. But inflation... 22nd June 2022 · 3 mins read
Africa Economics Update Where next for inflation in South Africa? Inflation in South Africa has been close to the top of the central bank’s target range in recent months, but the country has avoided the surge in inflation seen across much of the world. And there are... 21st June 2022 · 4 mins read
Africa Economics Weekly Tighter global financing conditions, Zambia’s debt African financial markets are not insulated from the tightening of global external financing conditions, and recent currency weakness and rising sovereign bond yields in the region will only add to... 17th June 2022 · 6 mins read
Africa Data Response SA Activity Data (Apr.) & Nigeria Inflation (May) South Africa’s activity data for April showed that flooding in a key province and renewed power cuts dealt a big blow to industrial sectors, while retail sales held up well. GDP probably still... 15th June 2022 · 3 mins read
