Africa Chart Pack Central banks turn more hawkish Interest rates were kept on hold in South Africa, Nigeria, Kenya and Ghana this month, but the more interesting aspect of the announcements was the notably hawkish tone struck by policymakers. In... 28th November 2013 · 1 min read
Africa Economics Update South African GDP growth slumps in Q3 The South African economy slumped in Q3 to record its slowest quarterly pace of growth since 2009, and the outlook for the coming quarters remains lacklustre. To compound matters, the weakness of the... 26th November 2013 · 1 min read
Africa Economics Update Currencies likely to face renewed pressure African currencies have remained broadly stable over the past month or so but, looking ahead, the general trend is likely to be one of weakness against the US dollar over the next year. In particular... 25th November 2013 · 1 min read
Africa Economics Update The SARB’s hands are tied The South African Reserve Bank (SARB) left rates on hold today but gave its clearest indication yet that the next move in interest rates will be up. The renewed slump in economic growth means that the... 21st November 2013 · 1 min read
Africa Economics Update Trade deficit revisions won’t take rand out of firing line The South African rand rallied yesterday following revisions to the methodology used to compile monthly trade data that resulted in a significant fall in the trade deficit. But the rebound has proved... 15th November 2013 · 1 min read
Africa Economics Update Weak South African economy not a major threat to rest of region The ongoing weakness of the South African economy has raised questions over the potential impact on the rest of sub-Saharan Africa. In this Watch, we argue that, due to a variety of factors, trade... 12th November 2013 · 1 min read
Africa Economics Update South Africa GDP Tracker suggests slowdown in Q3 Our GDP Tracker suggests that the South African economy lost a bit of steam in Q3, with annualised GDP growth slowing to around 2.2% q/q, from 3.0% q/q in Q2. 7th November 2013 · 1 min read
Africa Economics Update South Africa PMI points to growth of 3% annualised The South African manufacturing PMI rose in October, suggesting that growth in the sector has picked up at the start of Q4. However, the series has been volatile in recent months. Cutting through some... 1st November 2013 · 1 min read
Africa Chart Pack Rand respite unlikely to last Like most other major emerging market currencies, the South African rand has rebounded over the past month as markets have adjusted to the prospect of US monetary policy staying looser for longer than... 30th October 2013 · 1 min read
Africa Economics Update Fall in South African unemployment needs context South Africa’s unemployment rate fell to its lowest level since 2011 in Q3 but, while this is encouraging, it needs to be seen in a wider context. Unemployment remains above its natural rate, which... 29th October 2013 · 1 min read
Africa Economics Update Natural resource boom will bring its own challenges The production of natural resources will be a key driver of growth in Ghana, Mozambique and Tanzania over the coming years, but it is also likely to bring a number of challenges. In Ghana, oil... 25th October 2013 · 1 min read
Africa Economics Update South Africa: slower pace of fiscal consolidation The South African Finance Ministry chose to revise up its forecasts for the fiscal deficit in 2014/15 and 2015/16 rather than unveil new tightening measures in today’s medium-term budget statement... 23rd October 2013 · 1 min read
Africa Economics Update Debut dollar bond issues still likely to go ahead The prospect of monetary policy staying looser for longer than initially expected in the US has left open a window for potential bond issues in Africa. We still expect a number of countries in the... 22nd October 2013 · 1 min read
Africa Economics Update Why South Africa needs a weaker rand The South African rand was one of the hardest hit EM currencies during the summer sell-off and has now fallen by 15% against the US$ since the start of the year. However, as this Watch explains, a... 17th October 2013 · 1 min read
Africa Economics Update South Africa: debt ceiling alone won’t solve fiscal problems The IMF is right to argue that fiscal policy in South Africa needs to be tightened over the coming years in order to put public debt on a stable path. But its recommendation that South Africa adopt a... 11th October 2013 · 1 min read
Africa Economic Outlook Positive outlook but challenges lie ahead Sub-Saharan Africa is likely to remain one of the world’s fastest-growing regions over the next few years. Domestic demand will remain the key driver of growth. And while several external headwinds... 10th October 2013 · 1 min read
