It has been a relatively quiet start to the week, with the US enjoying a holiday on Monday. While inflation risks are skewed to the upside, headline inflation in Uganda remains benign. At the start of the week, the USD has regained a firmer footing, ...

The start of the new month brought with it the PMI data out of Uganda and Kenya. Meanwhile, Kenya’s headline PMI reading fell in September, decreasing to 50.4 from 51.1 in the previous month. That said, the lifting of lockdown measures in many countr...

On the trade front, Kenya and Ethiopia have agreed on a pact that will create a free trade area that will facilitate easier cross-border trade. While international oil prices are likely to remain elevated in the coming months, Kenya’s high court judg...

After the initial knee-jerk reaction to the Fed statement which nudged the USD higher, it has since retreated and lost some of its upside momentum. Much of what had already been priced in has come to pass. The copper market had a stellar session yest...

We present our top picks for the rest of this year – an update to our top picks for 2021, published in December. Angola (B3/CCC+/CCC) has been one of the better-performing markets this year (helped by the recovery in oil prices), with a total return ...

Focus in East Africa over the weekend was centred on the ongoing security issues in Ethiopia. Moreover, we expect the economic recovery in the region to persist in the months ahead, supported by stronger external demand from the region’s trading part...