Nigerian Labour Congress threatens strike action over naira crisis, Seplat terminates agreement with former Chairman. Kenya: Central bank issues guidelines to support functionality and integrity of FX interbank market. Ghana: Fitch Ratings upgrades l...
Forex: Nigerian naira devaluation looms. Fixed Income: Fitch upgrades Ghana’s local currency bond rating. Macroeconomic: The World Bank approves a $7bn economic support plan for Egypt.
Forex: Zambian kwacha underperforming the broader Africa FX basket. Fixed Income: African Eurobonds are significantly underperforming EM Eurobonds in 2023. Macroeconomic: ECB sticks to its guns and raises rates by 50bps despite a possible global bank...
Forex: Easing dollar demand provides some relief for the Ghanaian cedi. Fixed Income: Surging inflation and risk-off conditions come as headwinds for Ghanaian and Nigerian Eurobonds. Macroeconomic: Inflation in Southern Africa remains elevated but is...
Forex: Kenya implements new oil tender system to reduce FX pressure. Fixed Income: Risk vs reward, where do African countries rank? Macroeconomic: Oil production in Nigeria rises to an 11-month high in February.