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Pandemic Shocks, Russia-Ukrainian Crisis Transforming African Trade
October 12, 2022--The pandemic effects and the Ukrainian crisis have led to rising commodity prices, surging inflation, and shifts in the global financial situation that have transformed African trade and production capabilities.
After overperforming in its post-pandemic recovery in 2021, Africa's economic growth will expectedly lag in 2022.
According to IMF, exports topped pre-pandemic levels to reach $150 billion in the first quarter of 2022.
Countries with highly diversified markets, like Kenya, have boosted domestic processing and manufacturing to establish themselves as intra-regional trade hubs.
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Source: allafrica.com
Absa Africa Financial Markets Index 2022
October 11, 2022--Index shows improving market infrastructure in majority of countries in the region
Now in its sixth year, the Absa Africa Financial Markets Index evaluates countries' financial development based on measures of market accessibility, openness and transparency.
Key findings include:
South Africa, Mauritius and Nigeria maintain their positions in the top three this year, as they continue to score highly on measures of market depth, transparency and enforceability of legal agreements.
Uganda rises two places to fourth, while Namibia and Kenya improve their ranking within the top 10. Scores for these three countries primarily rose due to progress on adopting ESG policies and frameworks.
Seventeen countries in the index now have sustainability-focused policies - five more than last year.
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Source: omfif.org
Risk Fear Affecting Investment in Africa
October 11, 2022--Why is trade and business investment in Africa considerably low despite the continent's potential for huge returns across almost every sector? At the risk of being wrong, the single reason that is deterring investment in Africa is a four-etter word, risk or rather, the lack of risk mitigation.
Risk creates fear for investment in Africa, fear for security, political stability, energy assurance, and policy change...the list of fears goes on.
Investment risk is at the forefront of Africa not reaching its investment potential despite having a wealth of resources.
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Source: allafrica.com
Africa, the Looted Continent
October 10, 2022--Africa. The birthplace of "Homo Sapiens." The land of plenty. The origin of farming. The richest region in terms of natural resources. And human capital. Home to over 1.3 billion humans, continues to be looted.
With 500 million plus people living in extreme poverty, Africa has also been transformed in a sort of grave for half of the world's victims of terror. The continent is also the land with the highest suicide rate on Earth. Why?
Gold, diamonds, lithium...
The illegal exploitation of precious metals and minerals such as gold, silver and diamonds, are fuelling the extremists with significant sources of income, and benefiting the groups that control extraction, and trafficking routes -The vast Sahel region in particular has become "home to some of the most active and deadly terrorist groups", says the Head of the UN Office on Drugs and Crime (UNODC)
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Source: allafrica.com
World Bank-African Governments Urgently Need to Restore Macro-Economic Stability and Protect the Poor in a Context of Slow Growth, High Inflation
October 4, 2022--Global headwinds are slowing Africa's economic growth as countries continue to contend with rising inflation, hindering progress on poverty reduction.
The risk of stagflation comes at a time when high interest rates and debt are forcing African governments to make difficult choices as they try to protect people's jobs, purchasing power and development gains.
According to the World Bank's latest Africa's Pulse, a biannual analysis of the near-term regional macroeconomic outlook, economic growth in Sub-Saharan Africa (SSA) is set to decelerate from 4.1% in 2021 to 3.3% in 2022, a downward revision of 0.3 percentage points since April's Pulse forecast, mainly as a result of a slowdown in global growth, including flagging demand from China for commodities produced in Africa.
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Source: worldbank.org
Zimbabwe: List of Exchange Traded Funds On the Zimbabwe Stock Exchange
September 27, 2022--In Zimbabwe, investing in Exchange Traded Funds (ETFs) is witnessing traction, and various ETFs of different types are emerging. It is easy to invest in an ETF but before investing, ensure that you choose the one that suits your financial plan the most.
Investing in ETFs or exchange-traded funds is equivalent to investing in all constituents that are part of an index directly.
According to Forbes, the yields or returns generated by ETFs replicate the benchmark index. It gives investors an opportunity to benefit from diversity, flexibility and scope for growth that comes from ETFs being traded on stock exchanges.
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Source: allafrica.com/
African Domestic Bond Fund lists on Botswana Stock Exchange
September 21, 2022--The African Domestic Bond Fund (ADBF), an exchange-traded fund, has been listed in the local Pula currency on the Botswana Stock Exchange (BSE). The listing, on 15 September 2022, follows the Fund's primary US dollar listing on the Mauritius Stock Exchange in 2018.
The Pula-denominated listing will offer investors an innovative tool to gain exposure to African local currency fixed income.
ADBF is the first multinational fixed income exchange-traded fund in Africa. It was launched by the African Development Bank as part of initiatives to strengthen African economies by reducing their dependency on foreign-currency-denominated debt, increasing the range of available financing options, and acting as a catalyst for regional market integration.
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Source: afdb.org
Concerns grow as Nigeria's inflation surges to 17-year high
September 15, 2022--Nigeria's consumer inflation surged to 20.5% in August, its statistics agency said Thursday, signalling more hardship for citizens and businesses in Africa's largest economy
Nigeria's consumer inflation surged to a 17-year high in August 2022, its statistics agency said Thursday, signalling more hardship for citizens and businesses in Africa's largest economy.
The Nigerian National Bureau of Statistics (NBS) reported in its latest consumer price index that inflation rose to 20.5% in August, up from 19.6% in July this year and 17% in August last year.
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Source: abcnews.go.com
A new report signals progress on African countries' efforts toward readiness for green growth
September 8, 2022--Kenya, Morocco and Tunisia have incorporated into their constitutions rights to a clean and safe environment
The African Development Bank and the Global Green Growth Institute (GGGI have launched a report analysing the readiness of seven countries - Morocco, Tunisia, Kenya, Rwanda, Senegal, Gabon and Mozambique- to drive green growth.
The joint report was launched on the sidelines of Africa Climate Week, in Libreville, Gabon. It assessed the status and trends of green growth as well as countries' preparedness for the green growth transition across a number of metrics. It also offered recommendations for the countries surveyed in the report.
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Source: afdb.org
Nigerian Stocks Scrape Fragile Rally As Turnover Drops
August 16, 2022--The all-share index expanded 80 points to close at 49,709.5, while market capitalisation closed higher at N26.8 trillion.
Nigerian stocks inched up 0.2 per cent on Tuesday, the market's first advance since Wednesday, but that does not seem a sure-footed rebound as the number of decliners more than doubled that of gainers.
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Source: allafrica.com