10 West African Importation Trends To Watch For in 2021

The world of trade in West Africa and the entire continent as a whole has been through different transformations from the days of colonization to date when countries are thriving on their own merit with different policies, cultures and changing population preferences. As a progressive business, you are likely aware of all these, but are […]

[Webinar] United States of Naira: What Price For Unification?

Nigeria’s central bank has begun the journey from multiple official and unofficial exchange rates to a single unified value. It’s a radical departure that the IMF and investors have long advocated. But how much difference will a unified rate make to foreign investment, international trade and borrowing costs? And how much further does the official […]

Africa’s Debt: Freeze, Forgive, or Forget?

Africa spends more on servicing debt than on healthcare. Few would argue such imbalances demand radical change. However, as of today, there is no consensus on how to resolve Africa’s debt portfolio even in the face of the coronavirus pandemic and the wide ramifications on the economies so Africa is yet at another crossroads. Tune […]

Nigerian spenders in lockdown bring false stability to Naira

Nigerian spenders in lockdown bring false stability to Naira Gloom over OPEC’s seeming inability to withstand further slumps in global oil prices left the Naira surprisingly unscathed, and even slightly appreciating in the parallel market to 410.5 per dollar from 412.5 last week. One reason is that, with Nigerians on lockdown, there is less demand […]

Temporary Relief for Rand; Low tax revenues to put pressure on Kenyan Shilling

Relief for Rand unlikely to sustain After the week’s 4.7% rally from lows against the dollar on optimism of a peak in coronavirus cases in the US and Europe, we expect renewed pressure on the Rand as the government considers extending South Africa’s lockdown. Data from the World Bank’s report showed that the nation’s economy […]

Increased Pressure on African Currencies Amidst COVID-19 Chaos

Nigeria in lockdown faces bank pressure The Naira tumbled to its weakest level in 5 years in the parallel market at 415 per dollar, widening the gap with an official rate of 386 (See: current naira to dollar exchange rate). With 14-day lockdowns announced last week for Lagos and Abuja hitting productivity, banks came under […]

Nigeria deploys trillion-Naira bazooka; SA awaits Moody’s verdict: AZA FX Week Ahead

Nigeria deploys trillion-Naira bazooka As we predicted here last Monday, the Naira recouped some of its losses and appreciated 1.4% against the dollar for the week. However, the pressure is mounting again with Covid-19 closing the country’s borders and driving up food prices. New data showed annual [CHK] inflation started to pick up in February […]

Spirited Frontier Uses BFX to Pay Suppliers on Time

According to a 2015 study by Accenture, Africa’s growth and attractiveness for business expansion and investment is unquestionable. However, Africa is a still a very complex market, and resource constraints make it difficult for many businesses to achieve profitability. Access to payments is one of the biggest challenges for a business that relies on supplies […]