COVID recovery requires joined up global support

Africa and Europe called for greater cooperation to tackle the economic fallout from the coronavirus pandemic at the Africa Roundtable forum this week in Berlin. German President Frank-Walter Steinmeier called on Western nations to make a more significant contribution towards the global vaccination programme, while Senegalese President Macky Sall said easier access to loans to […]

African rate-setters steadfast in face of a cut

A majority of African central banks have kept their interest rates unchanged since the start of this year as the economic growth outlook is countered by inflation fears. Only a few countries, including Mozambique, Zambia and Zimbabwe, have tightened rates this year as they attempt to curb rising inflation. Even fewer have cut rates, with […]

Eco currency debate rumbles on as Naira devalues

West African states debate new Eco currency The West African Eco currency symposium took place in the Togolese capital Lomé this week to discuss issues around the transition away from the CFA Franc to the new currency. Topics on the agenda included monetary policy integration for countries in the Economic Community of West African States […]

African leaders call for expanded IMF support

African presidents from countries including the Democratic Republic of Congo and Senegal called for the IMF to triple the amount of money available to Africa under the fund’s Special Drawing Right reserves to $100 billion to support countries hard hit by the coronavirus pandemic. The leaders were attending the African Economies Funding Summit in Paris […]

CBN sanction threat easing Naira pressure

CBN sanction threat easing Naira pressure The Naira held steady against the dollar, trading at levels of 478 in the parallel market, as the Central Bank of Nigeria’s Monetary Policy Committee kept its key rate unchanged at 11.5% in a bid to prevent further inflationary pressure and exchange rate weakening. Beyond rates policy, in a […]

Africa FX risk downside amidst 2021 recovery

FX risk skewed to downside amidst 2021 recovery  With the new year’s trading now in full swing, we reiterate our 2021 outlook for moderate depreciation of sub-Saharan currencies—between 5.50% and 9.99% against the dollar—given the lag effects of the economic fallout from COVID-19, softened commodity prices in the global market, and rising risk of debt […]

Post-COVID seeds of innovation are transforming African finance to farming

Beyond the immediate toll on African economies, the pandemic has triggered critical innovations and breakthroughs whose benefits will outlive COVID-19. In a conversation hosted by AZA between leading experts on the continent, we explore a year of rapid development from finance to farming. To watch the webinar, click here or on the image below. Plunging Naira meets […]

Rand poised for Ramaphosa recovery plan; Tanzania Shilling stable before election

Dollar hoarders test CBN mettle The Naira lost ground from last week’s gains, sliding to 461 to the dollar in the unofficial market from 457 a week ago. Lower oil export revenue and the economic impact from the pandemic will cause external reserves to sink to between $29.9b and $34.3b, from $35.7b in September, the CBN […]

Which markets will be the most affected by coronavirus?

Coronavirus has turned the whole world upside down. Today we can safely say that most of the global economies have already been affected by the outbreak of the pandemic and the remaining ones are likely to suffer negative consequences of the global economic slowdown in the near future. Although it’s too early to count losses, […]