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IMF Staff Country Report-Nigeria: Selected Issues
April 3, 2019--GOVERNANCE IN NIGERIA: FOCUS ON THE OIL SECTOR AND AML/CFT1
Accountability, governance, and transparency in the state-owned enterprise (SOE) sector facilitate the
efficient use of public resources and help to monitor fiscal risks. Reducing leakages in the petroleum sector is especially macroeconomically critical, given Nigeria's current fiscal and external dependence on oil revenue.
Against this background, this paper provides an overview of developments, recent reforms, and challenges, and outlines policy recommendations for stronger governance and corruption
prevention, detection, and resolution, including through anti-money laundering and combating the
financing of terrorism measures that are useful beyond the petroleum sector.
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Source: IMF
Africa: How Soon Can the Continental Free Trade Agreement Be Implemented?
April 3, 2019--The African Continental Free Trade Area Agreement (AfCFTA) on Tuesday gathered the minimum required ratifications after the Gambia became the 22nd country to ratify the agreement.
The development, which comes a year after the deal was signed in Kigali, means that countries have adopted the agreement within their laws and hence ready for implementation.
April 2, 2019--The JSE paused on Tuesday as it took a breather along with most global markets following a significant rally in the previous session.
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Source: FIN24
Nigeria: Nigerian Stocks Now Cheapest Among African Peers
April 1, 2019--A sustained bear rally in the Nigerian equities market led to decline of 1.24 per cent in the first quarter (Q1) of 2019, thus making Nigerian equities the cheapest among its peers on the continent, THISDAY has learnt.
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Source: allafrica.com
Markets WRAP: Rand closes at R14.17/$
Markets WRAP: Rand closes at R14.47/$
What history tells us about the current state of the JSE view more
Mixed trading session for the JSE as SARB keeps rates unchanged
Ethiopia: Africa's Next Powerhouse? view more
April 1, 2019--The rand closed at R14.17 against the dollar after substantial gains.
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Source: FIN24
March 29, 2019--This ahead of an expected credit rating by Moody's later tonight.
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Source: FIN24
March 29, 2019--Markets are long-term machines
After the weak returns on the JSE over the past five years, it's difficult to remember where the market was back in 2014. At that point, South African equities had delivered 19.9% per year for the five years following the 2008 financial crisis.
It was an exceptional period of growth, fuelled by the stimulus injected by the world's central banks. Investors had rarely enjoyed such sustained high returns. However, as Graham Tucker, portfolio manager with the Old Mutual MacroSolutions boutique points out, it was never going to be sustainable.
Source: moneyweb.co.za
March 28, 2019--The South African Reserve Bank left the repurchase rate unchanged at 6.75% as the Monetary Policy Committee indicated that there was little evidence of demand side pressures to the economy.
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Source: Zawya.com
March 29, 2019--Ethiopia's prime minister, Dr. Abiy Ahmed-the youngest African leader at 42 years old-has initiated a series of unprecedented economic and political reforms in his first 12 months in office.
The core challenge that he faces is moving the economy from state-led to market-based growth while overseeing far-reaching political reforms. Success is far from guaranteed but his accomplishments so far have created an enormous sense of opportunity within the country.
Source: /allafrica.com
