Good Morning Africa

🎙Africa's clean energy shift promises security, green jobs, and development but faces hurdles.  🎙Gross foreign exchange reserves in South Africa increased to USD 61.721 billion from USD 60.932 billion. 🎙The Central Bank of Botswana slashed its benchmark interest rate by 25 bps to 2.40% at its meeting on December 7th 2023, pushing borrowing costs to the lowest since July 2022. 🎙Africa faces $2...

🎙What is the state of Ghana regarding its economic status or financial relief? 🎙The NSE-All Share index touched a fresh record level of 71,866. 🎙The Bank of Uganda left its benchmark interest rate steady at 9.5%. 🎙Namibia's central bank kept its key lending rate steady at 7.75%.

🎙Is the canvas of innovation, technology, and industrialization in Africa a harmonious masterpiece or a diverse mosaic waiting to unfold? 🎙The JSE All Share Index extended initial losses to trade below 75,200 on Tuesday after three straight sessions of gains as investors digested poor domestic GDP data. 🎙South Africa's Q3 2023 GDP contracted by 0.2%, following a revised 0.5% rise in Q2, again...

🎙Financial institutions to address advanced sustainable finance solutions. 🎙Bitcoin surges 4% to $41K on SEC ETF optimism. The market anticipates a Fed rate cut. Ether also rises 2.9%. 🎙The JSE All Share Index was 0.3% higher at 75,940, the highest level since mid-August. 🎙The first-ever international nuclear energy summit was announced in Brussels in March, following COP28 Ministerial Declaration...

🎙BPR Bank and MVend Limited unite for a groundbreaking digital savings wallet, merging banking reliability with fintech innovation for enhanced financial management. 🎙OPEC+ has decided to reduce output by 1.7 million barrels per day (bpd) until the end of the first quarter of 2024. 🎙South Africa posted a trade deficit of ZAR 12.7 billion in October 2023, contrary to market estimates of a surplus o...

🎙Post-election turbulence, coups in Africa and regional unrest are leaving us with one question: what will it take to restore peace and stability in the region? 🎙OECD: Global growth downgraded to 2.9% in 2023, and 2.7% in 2024. US GDP revised higher, China improved; Euro Area lags behind. 🎙JSE adapts to global trends, fostering partnerships and revising listing rules to counter declining numbers,...

🎙OPEC+ meeting postponed to November 30 over output quota dispute with African producers Nigeria and Angola. 🎙Cocoa futures hit $4,300/tonne, last seen in 1977, up 65% in 2023, fueled by supply worries from Ivory Coast and Ghana. 🎙Mozambique's annual economic growth accelerated to 5.92% from 4.67% in the previous three-month period. 🎙Kenya weighs using forex reserves to repay $2 billion Eurob...

🎙African governments tax aviation heavily but lack proportional investment. 🎙Brent crude fell below $80/bbl on Monday, extending a recent decline as investors await the OPEC+ meeting. 🎙The Bank of Ghana kept its benchmark monetary policy rate at 30%. 🎙Zimbabwe's annual consumer inflation rose to a four-month high of 21.6% in November 2023, accelerating from 17.8% in the prior month. 🎙Masterca...

🎙Explore the Afrobeat phenomenon with 13B Spotify streams, global hits, and Grammy nods—transforming African music into a worldwide powerhouse. 🎙The JSE All Share Index reversed course and rose about 0.4% to close at 75,712 on Friday. 🎙EAC welcomes Somalia as its eighth member, unlocking economic opportunities and expanding the bloc's market with a vast coastline. 🎙Nigeria's economy adva...

🎙 Meet Laura Kagame, CEO of Travel Neza 🎙The JSE All Share Index traded more than 1% higher, around 75,540 on Thursday. 🎙South Africa grapples with a 10% GDP loss due to rampant crime, hindering growth.

🎙Unveiling the Significance of Investor Engagement in Special Economic Zones for Promoting Robust Industrial Development. 🎙OPEC+ postponed the Ministerial meeting to November 30, causing a 4% drop in oil prices. Disagreements over production cuts persist, with analysis suggesting $80 per barrel. 🎙Morocco's annual inflation rate eased to 4.3% in October 2023 from 4.9% in the previous month. 🎙T...

🎙Understanding the Role of Special Economic Zones in Promoting Industrial Development In Africa. 🎙The JSE All Share Index slips below 74,200 as Sibanye Stillwater shares plummet 20%, Telkom soars 9% on profit surge and tower sale talks. 🎙Zambia's $3 billion debt overhaul hits roadblock as revised deal stalls; objections from official creditors, notably China, hinder implementation. 🎙The Natio...

🎙Understanding the current state of the South Sudan economy amidst the Sudan crisis. 🎙The NSE-All Share index extended gains for the fourth straight session to touch a new record level of 71,170 on Friday. 🎙PPC sells 51% Cimerwa stake for $42.5M to Kenya's National Cement, focusing on core markets and optimizing capital allocation. 🎙Facebook ads in Tanzania face 18% VAT starting Dec 1, 2023....

Remittance flows in some African countries are higher than the volume  of Foreign Direct Investment and yet sending these remittances within Africa can attract a cost of between 15 to 20% As the world moves to tackle climate change and transition to more renewable energy, Africa including Nigeria will need between $22.6-$30 billion annually to fill the energy financing gap.

In this episode we look at Remittances: Has Fintech Lived Up To disruption expectations   Tito Da Silva, Senior Economist in the strategy, policy and Review Department of the IMF talks remtechs, mobile money and bitcoin and their impact on the remittance market  Bamburi Cement is selling off its stake in Ugandan subsidiary for $120 million (Sh18.3 billion) to focus on its Kenyan operations.

Chinese investments in Africa are significant, Chinese mining companies represent only 8 percent of Africa’s total output in the sector South Africa's unemployment rate fell to 31.9% in Q3 of 2023, the lowest in a year, from 32.6% in the prior period. 

Gita Gopinath (First Deputy Managing Director, IMF)   discusses Monetary Policy Challenges in a Global Economy  OPEC slightly increased its 2023 global oil demand growth forecast to 2.46 million barrels per day, citing robust global growth trends and a healthy oil market. Kenya has appointed Citi and Standard Bank as joint lead managers for a potential dollar-denominated debt.

The crypto has gained roughly 122% this year and 134% in the last 12 months. development finance institutions (DFIs) led by the African Development Bank (AfDB) have partnered to finance $3-billion in a private sector-focused Alliance for Special Agro- Industrial Processing Zones (SAPZs) to bridge the critical financing gap in agriculture in Africa .

🎙The telecoms in Uganda planned to raise UGX800 billion in an initial public offering, which would value the telecom at $1 billion (UGX4 trillion). 🎙Malawi's central bank has issued a notice to authorized dealer banks, informing them of a 30% reduction in the local kwacha currency's exchange rate against the dollar. 🎙Mining production in South Africa shrank by 1.9% from a year ago in Sep...

🎙Rwanda has joined Benin, Seychelles and Gambia in removing visa restrictions for African travelers. 🎙 The NSE-All Share index extended gains for the fourth straight session to touch a new record level of 70,754 on Wednesday. 🎙 Ghana is seeking to borrow $400 million from cocoa traders to finance industry operations amid a government debt restructuring. 🎙Kenya’s parliament has asked the Blockchain...

🎙Airtel Uganda Ltd raised 211.4 billion shillings ($56 million) after selling 54.5% of the 8 billion shares in its IPO. 🎙 Zambia's central bank raised the ratio of deposits, both local and foreign by 3% points to 14.5%. 🎙Gross foreign exchange reserves in South Africa decreased further to $60.962 billion in October 2023 from $61.131 billion.  🎙EY's 11th Africa Attractiveness Report revea...

🎙Are stakeholders in the tourism sector finally seeing Africa’s contribution to the sector? 🎙Foreign investor exit reduces NSE value for a third consecutive quarter, with a Sh101 billion drop in the top five stocks' capitalization. 🎙The S&P Global Egypt PMI fell to 47.9 in October 2023 from 48.7 in September.  🎙Taxes on consumers and mobile operators are directly affecting the affordabili...

🎙What can the African Union do to present a strong case to the G20? 🎙The Central Bank of Egypt left its key overnight deposit rate unchanged at the 29-year high of 19.25% and its lending rate at 20.25%. 🎙Africa’s geothermal sector will attract at least $35 billion in investments by 2050. 🎙The unemployment rate in Morocco rose to 13.5% in the third quarter of 2023 from 11.4%, as the number of unemp...

🎙 Meet Chukwuduike Madu, CEO of Manful Health 🎙The NSE-All Share index touched a fresh record level of 70,584. 🎙Africa urges a 10-year renewal of the AGOA trade program, cautious on modifications, as the US seeks tariff-free access to African markets.

🎙The African Union (AU) has been made a permanent member of the G20, what does this mean for Africa? 🎙The South African rand traded around 18.6 per USD, hovering around two-month highs. 🎙President Bola Tinubu is seeking the approval of the National Assembly to go ahead with the processing of a loan facility of $7,864,508,559 and €100 million requested during the administration of former President...