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West Africa in Focus / Global

Higher costs for bakers raise the temperature in Nigeria and Ghana

Meanwhile, Senegal offers a ray of sunshine as the IMF approves the release of US$216mn of special drawing rights to help cushion the country from impact of the Russia-Ukraine war. This will supposedly be achieved by improving security at oil and gas...
Tellimer Research Ayobami
Ayobami Omole @ Tellimer Research 30 June 2022
Higher costs for bakers raise the temperature in Nigeria and Ghana
Higher costs for bakers raise the temperature in Nigeria and Ghana

World Bank urges Nigeria to implement a more flexible FX system

The USD has regained its footing this morning, paring back almost all of yesterday’s losses after more hawkish Fed speak overnight. According to the World Bank, oil prices being the highest in nine years provides Nigeria with an opportunity to adjust...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 22 June 2022

Fitch revises Uganda's outlook, Zambian kwacha outperforming in Q2

After closing Monday’s session flat amid thin liquidity conditions due to a bank holiday in the US, the USD has edged lower this morning as markets remain focused on posturing from major central banks on the path of monetary policy. Volatility is als...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 21 June 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

Chinese lending in Africa is concentrated in five countries

As we begin a new week, the world remains in varying degrees of turmoil. This was a much larger than expected increase and shows that the oil producer does not expect a slowdown in demand through Asia from July onwards, pinning its hopes on policy ea...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 6 June 2022

OPEC+ decision suits Saudi, US, Russia but no oil price relief for importers

OPEC+ increased its output on 2 June but not by an amount that makes a meaningful dent in global supply. Should China demand growth snap back, in the event that Covid restrictions subside and policy stimulus come into effect, then oil prices could go...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 5 June 2022
OPEC+ decision suits Saudi, US, Russia but no oil price relief for importers
OPEC+ decision suits Saudi, US, Russia but no oil price relief for importers