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West Africa in Focus / Global

Nigeria election polls show huge lead for underdog Peter Obi

Central Bank of Nigeria hikes rates by 150bps and struck a relatively hawkish/orthodox tone. Bank of Ghana postpones meeting to October 7 when the IMF is expected to conclude its visit. Campaign for Nigeria 2023 elections kicks off and latest polls s...
Tellimer Research
Janet
Janet Ogabi @ Tellimer Research 29 September 2022
Nigeria election polls show huge lead for underdog Peter Obi
Nigeria election polls show huge lead for underdog Peter Obi

US rate path will continue to dictate movements in African Eurobonds

Forex: Egypt's foreign currency gap narrows in July. Fixed Income: African Eurobonds continue to take direction from the path of US interest rates. Macroeconomic: Zambia’s maize production is expected to decline this season.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 15 August 2022
West Africa in Focus / Global

West Africa junta leaders cave in to civilian rule, avoid sanctions

We also highlight investors' thoughts on the investment case for the West Africa region, after client meetings in London in recent weeks. In Nigeria, investors were focused whether higher oil prices were good or bad for the country given the decline ...
Tellimer Research
Janet
Janet Ogabi @ Tellimer Research 7 July 2022
West Africa junta leaders cave in to civilian rule, avoid sanctions
West Africa junta leaders cave in to civilian rule, avoid sanctions

Egypt's budget deficit narrows in FY 2021/22, Nigeria's reserves remain robust

A rebound in risk appetite this morning has seen US Treasuries reopen with some losses. Expectations that pre-election demand for dollars could further pressure the naira in the parallel market, in addition to existing challenges, suggest that the CB...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 5 July 2022

Surging dollar inflicts more pain, African markets are becoming more integrated

A surging USD caused more bloodshed across global currency markets yesterday as traders brace themselves for the potential of an outsized rate hike this week. Egypt: Finance Minister Mohammed Maait has noted that high oil and wheat prices will cost E...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 14 June 2022

Fiscal alarms ring in Kenya and Ethiopia, foreign investment into Nigeria falls

US bond yields slipped overnight, and the 10yr vs 2yr bond spread has flattened. With so much tightening already priced into the USD, and given its overvaluation, it is especially vulnerable to a correction, something emerging market currencies could...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 8 June 2022