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Biden rally reversal for Rand amid graft charges; Tanzania election leaves Shilling stronger

Biden rally reversal for Rand amid graft charges After soaring to an eight-month high of 15.54 Rand per dollar amid expectations that the Biden presidency and successful vaccine trials bode well for growth and investment, the currency’s rally partially reversed as South African prosecutors issued an arrest warrant for the ruling ANC’s Secretary-General Ace Magashule […]

Post-US election, AfCFTA should focus policymakers’ minds

Post-US election, AfCFTA should focus policymakers’ minds For the past four years, the US’ strategy on Africa has centered on competing against China, the continent’s biggest trading partner. Talks from aid to trade revolved around encouraging the continent to turn away from Beijing and prevent China from taking greater stakes in Africa’s technology, energy and […]

Africa’s worst currency at precipice; Naira risk rises amid #EndSARS

Africa’s worst performing currency at a precipice African nations have continuously taken more and more debt from China for infrastructure development. The day of reckoning is approaching for Zambia, which is set either to default on its international borrowings on Nov. 13 or agree to a restructuring of commitments in tandem with an IMF program. […]

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 […]

Stimulus wind down is Q4 booster for Africa FX; Rand indicators point positive

Stimulus wind down is Q4 booster for Africa FX Stimulus measures taken up by most central banks in Africa in the initial phases of the pandemic are on hold with economies reopening. Ghana kept its policy rate steady this week at 14.5%, following freezes in South Africa’s policy rate at 3.5% and Kenya’s at 7%. […]

Mali’s hidden risk in currency clampdown; Lowest Kenyan Shilling has further to fall

Hidden danger in Mali coup from currency clampdown Beyond the fallout from political turmoil in Mali, a clampdown on transactions in the West African CFA Franc risks adding to the COVID-era economic disarray. Within hours of the military seizing power, the Central Bank of West African States (BCEAO) announced protective restrictions on the flows of […]

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