A fierce debate has been waging for many years as to whether cryptocurrency qualifies as an investment. However, based on its opening day of trading, one characteristic Coinbase seems to share with cryptocurrencies is high price volatility. Nigeria i...

A combination of poor financial inclusion and growing mobile phone penetration (including smartphones) has made Africa a promising environment for the growth of mobile money and, more broadly, innovation in digital payments services. Partly due to th...

Kenya's communications authority has released its quarterly statistics for the period to the end of December. Although the average minute of use per subscriber also increased above our estimate to c92 minutes/month, we expect the impact on Safaricom’...

The latest UN FAO World Food Price index (published on 8 April) exhibited the fastest year-on-year increase for a decade, of 25%. Food prices have risen c30% since May 2020, hitting a seven-year peak. However, for governments that subsidise food item...

High macroeconomic growth and cheap versus history equities: Egypt, Indonesia, Pakistan, Philippines. Low macroeconomic growth and expensive versus history equities: Brazil, Kuwait, Nigeria, Qatar, Russia. Local GDP growth may de-couple from equities...

Emerging and Developing Asia (+8.6% in 2021; +6.0% in 2022) remain the growth locomotive of the emerging and developing world. Given the recent rise in core rate yields, tighter financial conditions pose a noteworthy risk to the recovery. EM Asia is ...