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African Economic Outlook 2021: Africa's growth prospects bullish despite COVID-19 constraints and debt burden
March 12, 2021--The economic impact of the pandemic varies across economic characteristics and regions, but the projected recovery is broad-based
the average debt-to-GDP ratio for Africa is expected to climb by 10 to 15 percentage points in the short to medium term
the time for one last debt relief for Africa is now-President Akinwumi A. Adesina
Despite the challenging backdrop of a global pandemic and external economic shocks, Africa is expected to recover from its worst recession in half a century and reach 3.4 percent growth in 2021, the African Development Bank said in its 2021 African Economic Outlook report, launched on Friday.
The outbreak of the novel coronavirus in December 2019 has taken a massive toll on Africa, hitting tourism-dependent economies, oil-exporting economies and other-resource intensive economies the hardest, as well as deepening inequality.
view the African Economic Outlook 2021 From Debt resolution to Growth: The Road Ahead For Africa
South Africa: GDP Shrinks By 7%
However, Maluleke said, the positive growth recorded in the third and fourth quarters was not enough to offset the devastating impact of COVID-19 in the second quarter, when lockdown restrictions were at their most stringent.
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Nigeria: Nigerian Stocks Make Shaky Recovery After One Week in Red
CBN, NSIA set to diversify economy with comodity exchange
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As Nigeria Exits Recession
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NSE engages issuers to deepen activity in ETF market view more
IMF-West African Economic and Monetary Union : Selected Issues view more
Nigeria: NSE-Equities Shed N17 Billion On Worsening Investor Sentiment
Nigeria: Nigeria's Economy Rebounds With 0.11% GDP Growth in Q4'20
Bitcoin Will Persist In Nigeria, But The Ban Changes Things view more
Source: African Development Bank Group
March 9, 2021--The South African economy contracted by 7% in 2020, Statistician-General, Risenga Maluleke, has revealed.
Maluleke on Tuesday briefed media on the results of the Gross Domestic Product (GDP) for the fourth quarter of 2020.
The decrease was despite the economy growing by 1.5% in the last three months of the year, giving an annualised growth rate of 6.3%.
Source: allafrica.com
March 9, 2021--The all-share index inched up to 39,396.57 points, racking up 64.96 index points.
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Source: allafrica.com
March 3, 2021--The Central Bank of Nigeria, CBN, and Nigeria Sovereign Investment Authority, NSIA plan to invest N50 billion into the comatose Nigeria Commodity Exchange, NCX, is part of the government's effort to diversify the economy and boost foreign exchange earnings.
Commodity exchange presents a major opportunity for Nigeria to boost agricultural productivity, enhance economic diversification and thus rid itself of the perennial over-dependence on crude oil as a major source of forex earnings.
Source: vanguardngr.com
March 3, 2021--The latest figures released by the Nigeria Bureau of Statistics (NBS) indicate that Nigeria has exited recession as the Gross Domestic Product (GDP) grew by 0.11% in the fourth quarter of 2020.
It was the first positive quarterly growth for the entire year as the three preceding quarters all recorded negative growth figures.
Source: allafrica.com
March 3, 2021--The Nigerian Stock Exchange (NSE) on Wednesday, March 3 engaged with Exchange Traded Funds (ETFs) Issuers' in the Nigerian capital market in line with its commitment to deepen activities in the segment.
The virtual session highlighted key development areas for the market specifically in terms of product issuances, market liquidity, regulatory landscape and capacity building...
Source: businessday.ng/
March 2, 2021--WAEMU-INITIAL POLICY RESPONSE TO THE COVID-19 CRISIS11.
During the eight years preceding the global Covid-19 pandemic, WAEMU countries recorded strong economic growth supported by broadly sound policies. Real GDP growth exceeded 6 percent (much above the 3.7 percent SSA average) during 2012-19 on the back of robust domestic demand, while inflation remained subdued.
This performance was supported by expansionary fiscal and monetary policies until 2016, followed by some monetary tightening and fiscal consolidation, which allowed the aggregate fiscal deficit to decline below the regional convergence criterion of 3 percent of GDP in 2019.
Source: IMF
February 23, 2021--The All Share Index closed at 40,154.09 index points while market capitalisation eased to N21.009 trillion.
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Source: allafrica.com
February 19, 2021--Nigeria's economy re-bounded in the fourth quarter of last year (Q4'20) as the nation's Gross Domestic Product (GDP) grew year-on-year (y/y) by 0.11 percent, with aggregate GDP at N43.5trillion.
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Source: allafrica.com
February 17, 2021--You have probably heard the news about the Central Bank of Nigeria (CBN) imposing a ban on financial services for cryptocurrency exchange operators, as well as the incongruent excuses for its action. You may have also heard of several connected controversies, like how it's linked to the #endSARS protests, aid for which was partly funded in bitcoin.
What you probably don't know, though, is how this is related to the economic shock from the COVID-19 pandemic, the huge arbitrage gap in the naira (NGN) prices across the Nigerian currency market, the decline in Nigeria's inflow remittances and the emotional tension of individuals whose funds are sadly trapped in all of this.
Source: bitcoinmagazine.com