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UN report: 41 Countries in Africa face maximum exposure in 'three-dimensional crisis' as a result of war in Ukraine
April 15, 2022--Antonio Guterres unveils six champions including African Union chair Macky Sall to drive global action
A United Nations report has found that more than 70% of Africa's economies are at severe risk from Russia's war in Ukraine.
The African Development Bank is one of several international organizations, including UN specialized agencies and development lenders that are considering a plan to boost food production in Africa and avert a heavy toll on the African continent.
UN Secretary-General Antonio Guterres announced the establishment of the 32-member UN Global Crisis Response Group-which he chairs-in March. Its members are the heads of the various organizations. Its first brief, released on Wednesday in New York, found that 41 African countries face maximum exposure to at least one emergency caused by the war.
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Source: afdb.org
How Africa Can Navigate Growing Monetary Policy Challenges
April 4, 2022-- Tools such as foreign exchange intervention can ease the effects of shocks but need to be carefully weighed against potential longer-term costs.
Sub-Saharan African countries face important monetary policy challenges. The pandemic dented economic growth, and even now the recovery is likely to leave output below the pre-crisis trend this year.
Several countries in the region have also seen inflation increase, a challenge that is in some cases compounded by fiscal dominance emanating from high public debt levels.
Many of these economies may also face capital outflows as the major central banks in advanced economies withdraw policy stimulus and raise interest rates in the period ahead. The economic impact of the conflict raging in Ukraine-including the attendant sharp rise in energy and food prices-is likely to further intensify the challenges.
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Source: IMF
Zimbabwe: Three New ETFs to List On ZSE
March 1, 2022--The Securities and Exchange Commission of Zimbabwe (SecZim) expects at least three new exchange traded funds (ETFs) to list on the Zimbabwe Stock Exchange (ZSE) this year as the capital markets continue to grow.
ETFs are baskets of different types of investments such as stocks, commodities and bonds that are pooled into a single entity, which then offers shares to investors that are subsequently traded on major stock exchanges.
In Zimbabwe, Old Mutual pioneered the ETF listings when it listed the Old Mutual Zimbabwe Stock Exchange Top Ten Index Exchange Traded Fund (ETF) in January 2021.
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Source: allafrica.com
Zimbabwe: Datvest To List Modified Consumer Staples ETF
March 1, 2022--The ZSE has already granted approval for the listing of the Datvest Modified Consumer Staples ETF on the ZSE by way of Introduction.
ETFs are baskets of different types of investments such as stocks, commodities and bonds that are pooled into a single entity which then offers shares to investors that are subsequently traded on major stock exchanges.
The Modified consumer staples-ETF will constitute of 10 counters which are Delta, National Foods, Innscor Africa, Hippo Valley Estates, Simbisa Brands, Ok Zimbabwe, Meikles Limited, TSL Limited, Afdis Distillers and Dairibord Holdings.
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Source: allafrica.com
South Africa: Economy Projected to Grow By 2.1 Percent in 2022
February 23, 2022--The country's real Gross Domestic Product (GDP) is expected to grow by an average of 2.1 % in 2022, Finance Minister Enoch Godongwana said on Wednesday.
However, GDP is expected to grow by an average of 1.8 % over a three-year period.
The upward revision comes after the National Treasury had projected the GDP growth to grow at an average of 1.7 % over a two-year period when it tabled its Medium Term Budget Policy Statement (MTBPS) in November last year.
"We have revised our economic growth estimate for 2021 to 4.8%, from 5.1 % at the time of the MTBPS."
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Source: allafrica.com
Nigeria: Buoyed By CBN Financial Inclusion Policies, Financial, Insurance Subsectors' Annual Growth Rate Reached 10.07% in Q4 2021
February 21, 2022--As Nigeria's Gross Domestic Product (GDP) grew by 3.4 per cent in 2021, financial and insurance subsectors hit a new annual growth of 10.07 per cent at the end of last year, data released by the National Bureau of Statistics (NBS) has revealed.
The Finance and Insurance Sector consists of the two subsectors, Financial Institutions and Insurance.
According to the latest report by the National Bureau of Statistics, both subsectors recorded annual growth of 9.37 per cent in 2020 as against 2.03 per cent in 2019.
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Source: allafrica.com
Nigeria's Economy Grew At 3.40% in 2021, Fastest in Eight Years
February 17, 2022--Growth in the last quarter of the year was however the slowest when compared to the two previous quarters.
Nigeria's economy grew in 2021 at the fastest annual pace in eight years, relying more on the non-oil sector.
The Gross Domestic Product expanded at 3.40 per cent last year, the most since 2014 when it grew at 6.22 per cent, the National Bureau of Statistics said Thursday.
The growth beat forecasts by the government. While the Ministry of Finance predicted a 2.5 per cent growth rate for the year, the Central Bank of Nigeria projected 3.1 per cent.
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Source: allafrica.com
Nigeria's Inflation Down in January-NBS
February 15, 2022--The rate for December 2021 was 15.63 per cent.
Nigeria's consumer price inflation rate fell in January to 15.60 per cent from 15.63 per cent recorded in December 2021, even as food prices continued to surge, the National Bureau of Statistics said.
The statistics office said the prices of goods and services, measured by the Consumer Price Index, increased by 15.60 per cent (year-on-year) in January 2022.
This is 0.87 per cent points lower than the rate recorded in January 2021 (16.47) per cent.
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Source: allafrica.com
Nigeria: Why Nigeria's GDP Would Surpass IMF Projection-Afrinvest
January 24, 2022--Analysts at Afrinvest West Africa) Limited, a Lagos based investment banking firm, have projected that in 2022, Nigerian economy would surpass the prediction by the International Monetary Fund, IMF by 0.2 percentage points despite the Gross Domestic Product, GDP, dynamics in 2021.
The firm predicted that Nigerian economy would grow by 2.9 per cent while the IMF predicted 2.7 per cent in 2022.
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Source: allafrica.com
Nigerian Stocks Dip As Investors Book Profit
January 17, 2022-The all-share index fell 0.12 per cent.
Nigerian stocks fell 0.12 per cent as investors took profit in newly admitted BUA Foods, which had garnered over 59 per cent until the end of last week when gains began to plateau.
Major declines were also reported by Transcorp and NGX Group on a day that trade volume tumbled by as much as 47 per cent.
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Source: allafrica.com
