Good Morning Africa

🎙Uganda has over-time completed the acquisition and processing of high-resolution aerial magnetic data for the country. It is projected that the mining sector will be a major driver of employment and Gross Domestic Product (GDP) growth in Uganda over the next several years. 🎙South Africa posted a trade surplus of ZAR 13.1 billion in September 2023, above market estimates of ZAR 12 billion and a do...

🎙How has Botswana managed to tame inflation while overcoming the tension between monetary and fiscal policy, including in the context of a crawling peg? 🎙MTN Nigeria reported a 16.3% increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) to N907.9 billion.  🎙Moody's Investors Service (Moody's) recently affirmed Botswana's A3 rating and maintained its sta...

🎙How can stakeholders Increase access to affordable financing to drive the adoption and use of solar technologies towards increased smallholder farmer productivity in key agricultural value chains? 🎙The cryptocurrency market saw massive gains this week as Bitcoin rallied strongly past $34,000 to its highest level in over two years.  🎙Zambia has reached a deal for relief on nearly $4bn owed to priv...

🎙 Meet Sylvia Mulinge, CEO MTN Uganda. 🎙The JSE All Share Index fell as much as 1% to around 69,600 on Thursday, hovering around 11-month lows. 🎙The annual inflation rate in Zambia rose for the fourth straight month to 12.6% in October, up from September's 12% due to the ongoing depreciation of the kwacha.

🎙Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, worth $5.2 billion. 🎙The JSE All Share Index fell about 0.4% to close at 70,274 on Wednesday, following a 0.7% increase the previous day.  🎙Namibia's central bank kept its key lending rate steady at 7.75% on October 25th 2023. 🎙The World Bank approved a $1 billion development policy loan to support elect...

🎙Digital foundations are key in the delivery of public services and in creating inclusion for women. 🎙Bitcoin rose to $35,000 for the first time since April 2022.  🎙The United Nations Conference on Trade and Development has called for increased efforts to channel net-zero finance towards developing economies. Key sectors include power, transport, agriculture, construction, mining, and natural gas....

- Global Islamic Finance assets are forecast to reach USD 3.69  trillion by 2024, according to the 2020 Islamic Finance Development Report   - South Africa  emerges as the top choice for mergers and acquisition deals - S&P Global Ratings cut Egypt's long-term foreign and local currency sovereign credit ratings to B-, from B. 

🎙 Meet Jay Adewole, CEO of Point of View Consulting. 🎙Libya's oil production was 1.15 million barrels per day (bpd) in September, unchanged from the previous month. 🎙Karpowership resumed electricity in Guinea-Bissau as the government paid $6 million, settling a $15 million debt, ending a 1.5-day blackout. 🎙The Nigerian government has announced new social grants, which would see 15 million poo...

🎙 Overview of Kenya's financial sector performance. 🎙Uganda's trade deficit widened by 41.9% m/m from $283.3m in July to $402.1m in August. 🎙South Africa's annual inflation rate accelerated for the second successive month to 5.4% in September 2023, up from 4.8% in August and slightly above market forecasts of 5.3%. 🎙OPEC's Secretary General stresses fairness for Africa due to l...

🎙Despite its rich resources, the Western Sahel is facing poverty, coups, and an uncertain future. 🎙World Steel projects a 1.8% growth to 1.81 billion tons in 2023 after a 3.3% decline in 2022, with a 1.9% increase in 2024 to 1.85 billion tons. 🎙IEA warns of massive backlog with 1,500 GW in renewables projects awaiting grid connection, requiring 80M km power line upgrades by 2040. 🎙The Ugandan bank...

🎙African nations face a $6 billion Eurobond crunch in 2024 as high-interest rates persist, posing fiscal challenges. 🎙Zambia has signed a memorandum of understanding (MoU) with its bilateral creditors to restructure approximately $6.3 billion of debt. 🎙Nigeria's annual inflation rate continued to accelerate to an 18-year high of 26.7%, up from August's 25.8%. 🎙The annual inflation rate i...

🎙Kenya plans to raise $2 billion from the international capital markets in the next financial year to repay its 10-year Eurobond. 🎙Oil production in Nigeria rose notably last month, with output jumping 14.4% m/m to a 20-month high of 1.35 million barrels per day (bpd) in September. 🎙Shelter Afrique Elevates to Development Bank Status, Focusing on Transformative Housing and Infrastructure Developme...

🎙 Meet Peace Ndoli, Co-founder of Lifesten Health 🎙WTI crude rebounds over $84 after 2% dip; Saudi-Russia unity supports oil, despite US inventory surge amid Israel-Gaza situation. 🎙African nations face a tough task rolling over $6 billion in Eurobond repayments due as rates surpass 12%, warns IMF. 🎙ActionAid Country Directors in Morocco urge IMF and World Bank to address debt distress and austeri...

🎙Economic challenges in West Africa: Ghana receives IMF loans, high fuel costs in Nigeria, and coups in Francophone countries. 🎙The JSE All Share Index rose to close about 3.1% higher at 73,841 on Tuesday. 🎙 Ghana’s annual inflation rate eased for the second month to a one-year low of 38.1% in September 2023, down from 40.1%. 🎙Uganda's private sector credit growth was hampered by high interes...

🎙The International Monetary Fund has warned that the global economy is not growing as fast as expected. The IMF predicts that global economic growth will slow down to 2.9% in 2024 from an anticipated 3% this year. 🎙The urban inflation rate in Egypt rose to 38% in September 2023, up from 37.4% in the previous month. 🎙The annual inflation rate in Namibia quickened for the second month to hit a four-...

🎙Innovative financing models and regional cooperation are key to achieving financial security, peace, and development for a resilient Africa, especially in conflict challenges. 🎙African leaders reject resource-backed loans and prioritize transparency for sustainable debt solutions. IMF and African Development Bank lead the way. 🎙Safaricom's 2022 impact: 1/3 of Kenya's budget, Sh909.5 bil...

🎙Africa urgently requires a significant increase in climate change adaptation and resilience financing, aiming for $200 billion annually by 2025. 🎙The FAO Food Price Index edged lower to 121.5 in September 2023, the lowest since March 2021, from an upwardly revised 121.6 in August. 🎙The IMF's 14th annual Financial Access Survey (FAS) reveals strong financial access resilience amid the COVID-1...

🎙 African Fintech: Bridging Financial Inclusion Gaps with Mobile Innovation. Regional leaders drive the convergence of telecom and finance. 🎙The Ugandan Shilling is stable at 3735/3745, with tight liquidity and 10.55% overnight yields. BOU bond auction: 13.5% & 15.51%. MPC meeting Oct 5. 🎙The Stanbic Bank Uganda PMI increased to 52.9 in September 2023, up from a 6-month low of 51.6 in August a...

🎙 The Development Bank of Rwanda (BRD) became the first national development bank globally and in East Africa to launch a  Sustainability-Linked Bond (SLB). 🎙The JSE All Share Index wrapped up a volatile Tuesday session about 0.7% down, settling at 11-month lows of 70,773. 🎙The S&P Global Egypt PMI fell to 48.7 in September 2023, slipping further from 49.2 in the previous month. 🎙Morocco'...

🎙Housing in Ghana gets expensive for people whereby renting a new house costs 1700 cedis in a market where the average monthly income is 1280, many cannot afford decent shelter. Land 🎙Shilling opens at 3755/3765 and closes slightly stronger at 3750/3760 with 10.44% overnight yields 🎙Angola's economy nearly stagnated in the second quarter of 2023 compared to last year, following a 0.3% rise in...

🎙 Navigating Profit and Pitfalls During Pandemic, Climate Change, and Geopolitical Shifts 🎙South Africa logged a trade surplus of ZAR 13.3 billion in August 2023, smaller than July's downwardly revised ZAR 15.4 billion but surpassing market forecasts of ZAR 7 billion. 🎙The economy of Senegal advanced by 3.2% in the second quarter of 2023 after a 4.7% rise 🎙The economy of Botswana advanced by...

🎙 Meet Prosper Ahimbisibwe. Co-founder, director and clinical lead at Mscan Uganda. 🎙The JSE All Share Index rose by approximately 0.5% to close at 72,506 on Thursday 🎙African Continental Free Trade Area boosts remittances as Sub-Saharan Africa faces 1.3% growth in 2023, says World Bank report

Explore the Latest Africa Risk-Reward Index for Key Insights on Market Opportunities and Risks. 🎙The JSE All Share Index weakened to close about 0.7% down at 72,174 on Wednesday 🎙IMF's pandemic loans, with austerity conditions, risk harming rights and do not effectively reduce debt, says revealing report 🎙ILO warns: Progress on Sustainable Development Goal 8, focusing on economic growth, empl...

🎙 Ghanaians are out in the streets protesting harsh economic conditions. Despite receiving a 3 billion IMF bailout; the country is technically bankrupt, and the citizens are feeling the economic heat. 🎙The JSE All Share Index slumped nearly 2% to below the 72,000 level on Tuesday 🎙The economy of Uganda grew by 6.8% year-on-year in the second quarter of 2023, accelerating from a downwardly revised...

🎙 East African Airshow, the grand curtain rises on Uganda in December 2024, celebrating aviation, tourism, unity, opportunities like job summits, chances to win scholarships and others. 🎙The Bank of Ghana left its benchmark monetary policy rate unchanged at 30% during its September 2023 meeting. 🎙South Africa hosts the AGOA Forum, strengthening the US-Africa economic partnership and addressing con...