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Africa

South Africa’s Mining Sector Production Continues to Fall – Standard Bank

South Africa’s mining sector suffered a drop in production during 2019, following an equally disappointing performance in 2018, according to a report from Thanda Sithole, an economist at Standard Bank. Production fell by 1.4% year-on-year in 2019, after a 1.9% decline in 2018.

18 Feb 2020

Tension Between SDGs Raises Questions About the Growth of Sustainable Finance in South Africa

Given the size and depth of South Africa’s domestic capital markets, many see the country as the continent’s frontrunner for developing the sustainable finance segment. But the key to addressing the UN Sustainable Development Goals (SDG) is in a transition plan likely to be found in the narrow space between the precarious state of the economy, on the one hand, and the country’s worrying carbon…

18 Feb 2020

Angola’s Minister of Finance on Privatisations, Following Through on Free Trade, and Managing the Tricky Balance between Economic Diversification and Oil Dependence

While João Lourenço’s government continues to dominate the headlines - for highly visible corruption indictments against his predecessor José Eduardo dos Santos, his family, and associates - Vera Daves de Sousa, Angola’s young and resolutely optimistic Minister of Finance, is working hard behind the scenes to chart a more financially sustainable path for the country following years of economic…

13 Feb 2020

Securitisations Could Help South Africa-Based Financials Overcome Ratings Challenges and Liquidity Issues

South African lenders could lean on securitisations to help address credit ratings pressures and a lack of liquidity in the banking sector, but key bottlenecks need to be addressed by regulators before the sector can really take advantage of them, according to Gill Raine, a senior policy advisor at The Association for Savings & Investment South Africa (ASISA) and veteran banker.

12 Feb 2020

Ghana Raises USD3bn Across Three Tranches – Including SSA’s Longest-Dated Eurobond

Ghana raised USD3bn across 7, 15, and 41-year notes this week, the region’s longest-dated bond issuance to date and a major milestone for the country.

6 Feb 2020

Twin Deficits Leaves ZAR vulnerable – Standard Bank

Over the past week the rand has weakened as the global coronavirus outbreak causes markets to jitter. The rand is particularly vulnerable due to the country’s twin deficits – both current and fiscal – being run by the government, which “both compare poorly in the global context” according to a recent report by Standard Bank.

5 Feb 2020

African Exchanges are Key to Developing the Region’s Capital Markets, but Most Remain Illiquid

Africa’s securities exchanges have long been seen as a pivotal part of the development of the region’s capital markets, but a lack of liquidity blended with rapidly changing borrower and investor preferences is holding public markets back.

4 Feb 2020

Kenya’s Real Estate Sector Not Heading for a Bubble – Cytonn Investments

Despite a boom in Kenya’s real estate sector in recent years the market is not currently in a bubble, argues a recent report from Cytonn Investments. A bubble is unlikely, the report argues, due to a lack of access to credit, without which unsustainable demand cannot be supported.

31 Jan 2020

Ailing SoEs Pose Systemic Fiscal Risk in Pockets of EM

A new analysis by the IIF indicates that struggling state-owned giants such as Pemex and Eskom remain vulnerable and pose risks to their respective countries’ sovereign credit outlook.

30 Jan 2020

Kenya’s Rate Cap is Dead, but Private Credit Growth May Remain Elusive for Some Time

The introduction of the interest rate cap in 2016 was intended to enhance access to credit for retail customers and Kenya’s large SME sector. Instead, the effect was very much the opposite. But despite the recent repeal of the cap, the path back towards strong private sector credit growth may be more challenging than it may first appear.

30 Jan 2020

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